Luna Classic struggles to overcome key resistance: Big drop ahead? #LUNAUpdate
A short-term price bounce is expected for Terra Luna Classic, but can a range breakout follow from this?
âą Terra Luna Classic was rejected from the range highs but could see a price bounce soon.
âą The liquidity levels indicated that the token could see a double-digit percentage drop over the next two weeks.
#LUNAđ„đ„đ„
Terra Luna Classic [LUNC] retested the two-month-old rangeâs highs during the recent rally but was unable to breach the resistance level. It climbed past the mid-range level on the 21st of August when Bitcoin [BTC] jumped above the $60k mark.
The bankruptcy court order in Terraform Labsâ case meant the Shuttle Bridge could be opened to facilitate token movements between Terra and other blockchains. This could help in the companyâs restructuring efforts.
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The range-bound price action continues
Luna Classic has traded within the $0.0000637-$0.0000964 range since early July. Its most recent attempt the break the range highs met with failure. According to the Awesome Oscillator, the momentum was bullish but weakening.
#CryptoMarketMoves
The OBV was unable to break the highs from July, which meant the buying volume was not large enough to boost the chances of a LUNC breakout.
#BinanceBlockchainWeek
The current market price was still above the mid-range support level. It is unclear if prices can hold this level or will be headed for a deeper price drop. The liquidity charts offered some clues.
LUNC could be headed for the lows, but bears need patience #LUNARtoken
The liquidation heatmap showed that the $0.0001 and the $0.000063-$0.000071 zones were the next magnetic zones for the price.
Given the range high rejection, AMBCrypto concluded a move downward.
The cumulative liq levels delta of the past few days has been intensely negative. The conclusion here is that a short squeeze is likely before the move to the range lows can commence
The $0.000087 and $0.000091 levels were the short-term bullish targets.
đ **Binance to Support Cardanoâs Chang Hard Fork!**
Binance has announced its support for Cardanoâs (ADA) upcoming Chang hard fork, set for Sept. 1, 2024, at 20:45 UTC. Ahead of the upgrade, ADA deposits and withdrawals will be paused, but trading remains unaffected. Binance will handle all technical requirements, so users need not worry.
đ§ **Why the Chang Hard Fork Matters:**
- Part of Cardanoâs roadmap to the Voltaire era, aiming for a self-sustaining ecosystem.
- Includes governance improvements like voting and a treasury system.
đŹ What are your thoughts on Cardanoâs future? Share in the comments!
**Crypto in the Driverâs Seat this Election Season! đ**
- A recent Fairleigh Dickinson University poll shows Trump leading among crypto owners by 12 points over VP Kamala Harris in the 2024 U.S. Presidential race.
- 50% of likely crypto-owning voters back Trump, compared to 38% for Harris. Among non-crypto owners, Harris leads with 53% to Trumpâs 41%.
- 15% of registered U.S. voters have owned crypto, NFTs, or similar assets, with a higher composition of men, younger voters, and racial minorities.
- Trumpâs pro-crypto stance contrasts his 2021 criticism, aiming to make the U.S. the âcrypto capital of the planetâ if re-elected.
- Harrisâs campaign launched Crypto4Harris to engage the crypto community and counter Republican efforts.
What do you think about cryptoâs role in politics? Share your thoughts below! đŹ
đ Exciting News in Crypto & AI! đ
Qubic has just unveiled Aigarth, an innovative project merging AI with decentralized blockchain systems! đ Aigarth aims to emulate natural evolution, enabling AI to learn, adapt, and evolve autonomously. Unlike traditional AI, Aigarth's independent development could lead to more sophisticated and adaptive intelligence.
Key Highlights:
- AI evolves from basic to complex functions
- New AI security system protects creators' rights
- Potential leap towards Artificial General Intelligence (AGI)
Join the conversation! What do you think about AI and blockchain integration? Comment below! đŹ
The Tether exchange reserve has been trending higher since early August. It was an indication of rising buying power in the market.#CryptocurrencyTravel
However, it is hard to tell when the crypto market prices would begin to rally, but the metric showed that there is room for expansion.
Liquidity explains why crypto is down
#CryptoNewsCommunity
Investors fleeing to stablecoins is a good measure of market sentiment. Another way to gauge where prices are likely to go is from the liquidation charts.#BNBChainMemecoins
$USDC
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Since Bitcoin and Ethereum are the largest assets and most major altcoinsâ price performance has a high positive correlation with them, AMBCrypto decided to examine their liquidation heatmaps.#TON
$SOL
On the 27th of August, Bitcoin plunged through multiple short-term liquidity clusters, quickly reaching the $58k liquidity pool. It has stabilized since then, but liquidity is a key driver of price movements.
$BTC
Liquidity and market sentiment were the key factors behind why crypto is down. The move caused millions of dollars in liquidations, and the crypto market could consolidate over the next few days.
đšâïžâïžThe Polkadot-Inter Miami partnership is a groundbreaking deal that brings together the worlds of sports and Web3 đ. Here's a detailed breakdown of the partnership and its implications:
$DOT đ‎ïžđȘ
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*Partnership Details đ*
1. *Global Reach đ*: Inter Miami's international presence will help Polkadot tap into new markets and audiences, increasing its brand visibility and reach.
3. *Web3 Engagement đ»*: The partnership may lead to Web3-related initiatives, such as fan engagement programs, digital collectibles, and more.
*Implications đ€*
1. *Increased Adoption đ*: The partnership could lead to increased adoption of Polkadot's technology and ecosystem, driving growth and innovation.
2. *Mainstream Recognition đ*: Polkadot gains mainstream recognition, potentially attracting new users, investors, and partners.
3. *Sports and Web3 Convergence đđ»*: The deal highlights the growing convergence of sports and Web3 technologies, paving the way for future collaborations.
*What to Watch Out For đ*
1. *Partnership Developments đ*: Monitor the partnership's progress and potential Web3 initiatives.
2. *Polkadot's Growth đ*: Watch for Polkadot's growth and adoption rates following the partnership.
3. *Sports and Web3 Collaborations đ€*: Expect more collaborations between sports teams and Web3 companies, driving innovation and adoption.
This partnership is a significant milestone in the Web3 space, showcasing the potential for decentralized technologies to reach mainstream audiences through sports and entertainment đ.
đ Bitcoin's Dance: Will It Break Free? đ
Bitcoin (BTC) is playing the waiting game at $59,500, teasing traders with its sideways shuffle. Despite the latest U.S. PCE inflation data, BTC remains rangebound, leaving us all wondering if it will break free soon.
đž Key Level Alert: $62,000! Popular trader Crypto Ed says, "Break above $62K, and I'll be a lot more bullish!"
đž Ichimoku Cloud Magic: Titan of Crypto hints that reclaiming $59,600 could flip resistance into support.
What do you think? Will Bitcoin break out or keep us on our toes? Drop your thoughts below! đŹ
#Bitcoin #CryptoTrends #BTC
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$BTC Why is crypto down today? Market sentiment has a role to play
Tether Dominance rose by 10.91% as the crypto market crashed, signifying that investors held more stablecoins.
âą The market sentiment soured, and liquidity pockets attracted prices lower.
âą Bitcoin and Ethereum faced rejections at their respective resistance zones.
On the 26th of August, the total crypto market capitalization dropped from $2.216 trillion to $2.041 trillion the next day. This was a $215.87 billion or 9.7% drop across the market.
$ETH
Certain tokens were affected more than others.
In the past 24 hours, the market prices have already begun rebounding. Bitcoin [BTC] and Ethereum [ETH] were up 3.84% and 6.82% respectively. But what could explain why crypto is down since the 26th?
Market participant behavior
The Tether dominance chart measures Tetherâs market capitalization as a share of the total crypto market cap. The chart above showed USDT.D rose by 10.91% from Monday, running into a resistance zone at 5.9%.
Since then, it has declined. The Tether dominance and crypto price movements are inversely related.
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$BNB
When USDT.D goes up it signifies more investors and market participants exchanging their crypto for Tether, implying a lack of confidence and a surge in sell pressure.
This has abated in recent hours and a price bounce was witnessed across the major altcoins and for Bitcoin.
The Tether exchange reserve has been trending higher since early August. It was an indication of rising buying power in the market.
However, it is hard to tell when the crypto market prices would begin to rally, but the metric showed that there is room for expansion.
Liquidity explains why crypto is down
**Bitcoin Stays Steady Amid US Inflation Data**
Bitcoin (BTC) remained stable at the Wall Street open on August 30, hovering around $59,500 despite new US inflation data. The Personal Consumption Expenditures (PCE) Index came in slightly below expectations, reinforcing the likelihood of anticipated interest rate cuts in September.
Traders are eyeing $62,000 as a crucial resistance level. Popular trader Crypto Ed noted that surpassing this mark could turn him more bullish. Meanwhile, Josh Rager drew parallels with the 2020 Bitcoin breakout, cautioning that a stock market dip could impact BTC.
Optimistically, Titan of Crypto suggested that breaking through the Ichimoku Cloud at $59,600 might trigger an upward move. As August nears its end, Bitcoin is set to close the month down by 8%, yet it has rebounded 40% since early August.
đ **Crypto News Flash: Popcat Meme Coin Dips 22% After Peak!**
- Popcat (POPCAT) token has dropped over 22% from its recent high, hitting $0.6098, its lowest since Aug. 23.
- Despite the dip, Popcat maintains a market cap of $608M and stable futures open interest at $50.63M.
- Listings on Binance, KuCoin, and OKX boosted Popcat earlier this month, but the hype has since cooled.
- Popcat's decline mirrors trends in major cryptos like BTC and meme coins DOGE, SHIB, and Floki.
- Competing with new Tron (TRX) tokens, Popcat faces a challenging market.
- Analysts suggest a potential bullish breakout, eyeing the $0.70 level.
đŹ What are your thoughts on Popcat's future? Share below!
đ **Crypto Market Buzz: Intel Markets Presale Soars!** đ
- **Ethereum & Solana Exodus**: Investors are shifting from ETH and SOL to new projects. Intel Markets' presale is the hot new destination!
- **ETH Price Dip**: Ethereum struggles below $3,000, impacted by institutional outflows and lower transaction fees post-EIP-4844.
- **Solana on Robinhood**: SOL gains momentum with its recent listing on Robinhood, hinting at an 18% price rise.
- **Intel Markets Presale**: Raised over $175,000! Features dual-chain trading on Solana & Ethereum, AI-driven trading bots, and 1000x leverage.
đŹ **Join the conversation! What are your thoughts on these market shifts?** đŹ
#CryptoNews #IntelMarkets #Ethereum #Solana
đš Breaking News: US PCE Inflation Hits 2.5% - Bitcoin & Altcoins Poised for Rally đ
$BTC $SOL $XRP đ‎ïžđȘ
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The latest US Personal Consumption Expenditures (PCE) inflation data has been released, showing a 2.5% increase đ. This development could be a game-changer for the cryptocurrency market, potentially leading to a rally in Bitcoin and Altcoins đ.
_Why This Matters:_
1. _Federal Reserve Reaction đ€_: The moderate inflation rate might lead the Federal Reserve to maintain or even lower interest rates, boosting the appeal of riskier assets like cryptocurrencies.
2. _Increased Adoption đ_: A favorable economic environment could lead to increased mainstream adoption and investment in digital assets.
3. _Market Sentiment đ_: The news could shift market sentiment, leading to increased optimism and a potential rally in cryptocurrency prices.
_Possible Outcomes:_
1. _Bitcoin Surge đ_: Bitcoin's price might experience a significant surge, potentially breaking through key resistance levels.
2. _Altcoin Rally đ_: Altcoins could follow Bitcoin's lead, leading to a broader market rally.
3. _Increased Volatility đ_: Cryptocurrency markets might experience increased volatility, presenting opportunities and risks for traders.
_Stay Ahead:_
1. _Monitor Market Movements đ_: Keep a close eye on cryptocurrency price movements and market trends.
2. _Adjust Strategies đ_: Be prepared to adjust your investment strategies according to the evolving market landscape.
3. _Stay Informed đ°_: Continuously update yourself with the latest news and developments in the cryptocurrency space.
Get ready for a potential rally in the cryptocurrency market! đ
According to dogegod, this pattern could be expected to repeat in the current cycle, with a potential start as early as the first week of September. #DogecoinCommunity
He anticipated that the coming weeks could be predominantly bullish for Dogecoin, mirroring the previous cyclesâ behavior after the critical intersection.
Fundamentals and market indicators
In addition to these technical patterns, Dogecoinâs fundamentals have also shown notable trends in recent months.
According to data from Santiment, the number of active Dogecoin addresses has seen a significant decline, dropping from 4.5 million active addresses in March to below 600,000 as of press time. #dogeâĄ
This reduction in active addresses could suggest a decrease in user activity and engagement, which might impact DOGEâs price negatively, if the trend continues.
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Furthermore, data from CryptoQuant revealed that Dogecoinâs Relative Strength Index (RSI) was sitting at a neutral condition with a figure of 50 at press time. #BNBChainMemecoins
The RSI is a momentum oscillator used in technical analysis to measure the speed and change of price movements.
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An RSI of 50 indicates that the asset is neither overbought nor oversold, suggesting that the market sentiment towards Dogecoin is balanced. #CryptoMarketMoves
This neutral RSI could mean that Dogecoin is in a consolidation phase, where neither buyers nor sellers have a clear advantage, potentially leading to a period of sideways price movement before a more decisive trend emerges.#BinanceBlockchainWeek
đ Bitcoin Miners: From Debt to Diversification! đ
Remember the 2022 crypto winter? đ„¶ Bitcoin miners were buried in debt, but now they're thawing out! Miners have shifted from debt to equity financing, raising a whopping $4.9 billion between Q3 2023 and Q2 2024.
Why the shift? Lower debt means fewer headaches and more focus on cool stuff like AI and HPC. Companies like TeraWulf and Hut 8 are already diving in, boosting their stock values by 25%!
Meanwhile, Marathon Digital is hodling hard, buying $100M in Bitcoin. What do you think of their strategy? Comment below! đŹ
#CryptoNews #Bitcoin #HPC #AI
LDO/USDT Market Analysis Update:
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đ LDO Trading Outlook: Preparing for a Bullish Move? đ
$LDO
LDO is currently trading around $1.06, having recently rebounded from a significant weekly support level. This could signal a potential bullish reversal, suggesting an interesting opportunity for traders.
đ Key Insights:
Chart Pattern: Earlier in August, LDO started forming an Initial Diagonal Triangle. According to Elliott Wave Theory, this pattern is a five-wave impulse. Waves 1-2-3-4 seem to have completed, and we might now anticipate a rise in the 5th wave.
Potential Target: In a Broadening Wedge pattern, the 5th wave often falls short of the upper boundary. This suggests the upward move could potentially reach the $1.30-$1.35 zone.
â ïž Important Reminder:
This trade setup looks bullish, but it's essential to employ risk management strategies. Always be prepared for market volatility and trade accordingly.
Stay tuned for further updates, and as always, trade wisely!
Disclaimer: This is not financial advice. Please conduct your own research and trade responsibly.
WALKERSâ€ïž
$BTC $ETH #DOGSONBINANCE #BNBChainMemecoins #Write2Earn! #PowellAtJacksonHole #CryptoMarketMoves
**Bitcoin Mining Industry Shifts Gears Amid Crypto Winter**
The 2022 crypto winter hit Bitcoin miners hard, pushing many into bankruptcy due to high debt levels. By Q3 2022, the industry began deleveraging, cutting down debt to improve creditworthiness and focus on strategic growth. The exception was Q2 2024, skewed by a $150 million investment in Hut 8.
From Q4 2023, miners turned to equity issuance, raising over $4.9 billion by Q2 2024, a 300% increase from the previous three quarters. Funds were mainly used for hardware upgrades to stay profitable post-halving.
Miners like TeraWulf and Hive are diversifying into high-performance computing (HPC) and AI, gaining easier access to equity capital. This move has boosted their valuations by 25% year-to-date, compared to a 3% decline for traditional miners.
Marathon Digital, however, is doubling down on Bitcoin, planning to acquire $100 million worth and adopting a full hodl strategy. Investors are skeptical, fearing over-reliance on Bitcoin prices and potential equity dilution.
As the industry evolves, Bitcoin miners are exploring new revenue streams, but face stiff competition from giants like Amazon Web Services and Google Cloud.
**Crypto Narratives: The Good, The Bad, and The Meme-tastic!**
- **Memecoins Mania**: Riding high on humor and hype, memecoins are the life of the crypto party. But remember, what goes up on a meme might come down just as fast! đ¶
- **DePINs & RWA Tokenization**: Serious contenders like decentralized physical infrastructure networks and real-world asset tokenization are here to solve real problems. Experts say RWAs could unlock a $30 trillion market!
- **ETFs Galore**: Spot Bitcoin and Ether ETFs are the new bridge between traditional finance and crypto, with BlackRockâs Bitcoin ETF alone snagging over $20 billion in BTC.
Stay tuned as these narratives evolveâsome might just be the next big thing, while others could fade into crypto history!
đ Crypto Market Narratives: The Good, The Meme, and The Lightning! đ©ïž
In the wild world of crypto, market narratives are the true puppet masters. From the rise of memecoins to the serious business of decentralized physical infrastructure networks (DePINs) and real-world asset (RWA) tokenization, 2024 has seen it all.
- **Memecoins**: Thriving on hype and humor, these tokens are the life of the party, but their longevity? Questionable.
- **DePINs & RWAs**: Solving real problems, these could unlock a $30 trillion market!
- **ETFs**: Bridging traditional finance and crypto, BlackRockâs Bitcoin ETF alone has snagged over $20 billion in BTC.
Whatâs your favorite crypto trend? Comment below! đŹ
Is Dogecoin's recovery coming? Bullish indicators emerge #dogeburn
Dogecoin is slowly seeing a rebound. If this trend sustains, DOGE can reclaim the $0.10 mark soon.
#DogeStrong
âą Dogecoin has shown signs of recovery after a recent dip, with analysts pointing to bullish reversal patterns.
âą A potential MACD crossover and RSI suggested a possible surge in Dogecoinâs price.
$SOL
Dogecoin [DOGE], the popular meme-based cryptocurrency, has seen a noticeable decline in its price over the past week, dropping by 5%.
However, the asset was showing signs of recovery, with a 1% increase in the past day, bringing its trading price to $0.1008 at the time of writing. This marked a significant rebound from the lows of $0.096 recorded earlier this week.
Technical outlook on Dogecoin #DogeLove
Amid these price movements, several crypto analysts have shared their insights on Dogecoinâs future price action.
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Among them is the well-known crypto analyst Trader Tardigrade, who expressed a bullish outlook in a post on X (formerly Twitter).
He pointed out a potential bullish reversal for Dogecoin, highlighting a âDiamond Reversal Patternâ on the DOGE H4 chart.Â
According to Tardigrade, this pattern indicated that Dogecoin may have reached its bottom in the current downtrend.
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A bullish crossover in the MACD (Moving Average Convergence Divergence) is likely to happen soon, which could signal a strong upward move for the asset.
The Diamond Reversal Pattern is a technical analysis chart pattern that signals a potential reversal in a securityâs price trend.
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Typically, this pattern forms after a prolonged trend, either bullish or bearish, and resembles a diamond shape on the chart. The pattern begins with a widening price range that eventually narrows, forming a diamond. #DogeForever
A breakout from this pattern, usually in the opposite direction of the prior trend, indicates a potential reversal.
**Crypto Market Narratives in 2024: Trends to Watch**
Success in crypto trading often hinges on understanding market narratives. These stories drive price movements, even if they aren't always fundamentally sound. In 2024, several key narratives have emerged:
- **Memecoins**: These tokens thrive on hype and humor, attracting quick-profit seekers despite lacking real utility. Their longevity remains uncertain.
- **Decentralized Physical Infrastructure Networks (DePINs)**: These aim to decentralize infrastructure like energy grids using blockchain technology.
- **Real-World Asset (RWA) Tokenization**: Tokenizing assets like real estate could unlock a $30 trillion market, though this is yet to materialize.
- **Spot Bitcoin (BTC) and Ether (ETH) ETFs**: The approval of these ETFs is bridging traditional finance and crypto, encouraging institutional adoption. BlackRockâs Bitcoin ETF alone has acquired over $20 billion in BTC, fueling market optimism.
As these narratives evolve, it's crucial to remember that many trends may fade or fall short of expectations. Stay informed and cautious in this dynamic market.