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#Write2earn #Polkadot 's Price Struggles: Analysis of Recent Trends #Altcoins #Dot........ #PolkadotAnalysis Polkadot (DOT) remains on a downward trajectory, struggling to breach the $7 mark amidst persistent selling pressure. Following a significant recovery over the weekend, reaching $7.47 on Monday, DOT has faced a notable downturn. Trapped within the $6.40 to $7 range, Polkadot shows limited signs of gaining traction as its value continues to dwindle. With a drop of over 30% in the past month, dipping below the crucial $7 threshold, DOT's decline contradicts hopes sparked by a substantial weekend surge aiming for the $8 level. Saturday's 8.38% spike propelled DOT past the 200-day SMA, previously a resistance, to $7.24. Despite Sunday's dip to $6.97, DOT rebounded, closing above $7 at $7.14. Monday's trading maintained upward momentum, supported by the 200-day SMA, yet facing resistance at the 20-day SMA, settling at $7.47. Despite support from the 200-day SMA, DOT entered negative territory on Tuesday, dropping nearly 3% to $7.25. Despite holding above $7 with 200-day SMA support, Wednesday's attempt to breach resistance failed, with sellers driving prices below the 200-day SMA to $6.92, breaking support. Facing resistance at the $7 mark and a bearish cross between the 20-day SMA and 200-day SMA, DOT is down over 3% in the current session, trading at $6.52, with support expected around $6.40. The RSI at around 40 suggests potential bullish momentum if buyers seize control. Meanwhile, a bullish MACD indicates potential stabilization around the support level, inviting buyer participation. Potential catalysts for reversing DOT's bearish trend include the introduction of the Join-Accumulate Machine (JAM) protocol by Polkadot founder Gavin Wood, aiming to merge features of Polkadot and Ethereum. Discussions for an $8.8 million sponsorship deal with Inter Miami could also attract attention.

#Write2earn #Polkadot 's Price Struggles: Analysis of Recent Trends #Altcoins #Dot........ #PolkadotAnalysis

Polkadot (DOT) remains on a downward trajectory, struggling to breach the $7 mark amidst persistent selling pressure.

Following a significant recovery over the weekend, reaching $7.47 on Monday, DOT has faced a notable downturn.

Trapped within the $6.40 to $7 range, Polkadot shows limited signs of gaining traction as its value continues to dwindle. With a drop of over 30% in the past month, dipping below the crucial $7 threshold, DOT's decline contradicts hopes sparked by a substantial weekend surge aiming for the $8 level. Saturday's 8.38% spike propelled DOT past the 200-day SMA, previously a resistance, to $7.24. Despite Sunday's dip to $6.97, DOT rebounded, closing above $7 at $7.14.

Monday's trading maintained upward momentum, supported by the 200-day SMA, yet facing resistance at the 20-day SMA, settling at $7.47. Despite support from the 200-day SMA, DOT entered negative territory on Tuesday, dropping nearly 3% to $7.25. Despite holding above $7 with 200-day SMA support, Wednesday's attempt to breach resistance failed, with sellers driving prices below the 200-day SMA to $6.92, breaking support.

Facing resistance at the $7 mark and a bearish cross between the 20-day SMA and 200-day SMA, DOT is down over 3% in the current session, trading at $6.52, with support expected around $6.40. The RSI at around 40 suggests potential bullish momentum if buyers seize control.

Meanwhile, a bullish MACD indicates potential stabilization around the support level, inviting buyer participation.

Potential catalysts for reversing DOT's bearish trend include the introduction of the Join-Accumulate Machine (JAM) protocol by Polkadot founder Gavin Wood, aiming to merge features of Polkadot and Ethereum.

Discussions for an $8.8 million sponsorship deal with Inter Miami could also attract attention.

Ansvarsfriskrivning: Inkluderar åsikter från tredje part. Ingen ekonomisk rådgivning. Kan innehålla sponsrat innehåll. Se användarvillkor.
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#write2earn Are AI Cryptocurrencies Losing Steam or Gaining Momentum? #AI #CryptoAI $RNDR $GRT $FET AI Cryptos Surge: AI cryptocurrencies like Turbo and Spectre AI are seeing significant growth despite fading from the trending list. The Rise of AI in Crypto: AI-infused cryptocurrencies enhance blockchain features like scalability, security, and decentralized governance. AI trading bots drive much of the hype, though some worry about limited expansion potential. Meanwhile, meme coins are dominating the market. AI Crypto Hype: The AI crypto boom started in late 2022 with OpenAI's ChatGPT. Despite initial popularity, limited features constrained profits. Spikes in demand occur with AI tech advancements, like the early 2024 launch of SORA, which boosted AI cryptos like Big Data Protocol (up 4000%), AGIC (up 669%), and GNY (up 946%). Current Market Performance: While the overall AI crypto market cap dropped 5% in the last 24 hours, coins like Turbo and Spectre AI show strong gains. However, popular AI cryptos like Near Protocol, Render, The Graph, Fetch.ai, and Injective have seen declines. Final Thoughts: AI cryptos still hold a significant market presence despite fluctuations. Coins like Turbo and Spectre AI's rise indicate ongoing investor interest in AI-driven digital assets.
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#Write2earn #Bitcoin Market Analysis : Bearish Trend Although Ethereum ETF Approval #ETF #BTC #MarketAnalysis $BTC The Securities and Exchange Commission (SEC) greenlit all Spot Ethereum ETFs on Thursday, but the aftermath saw Bitcoin and the overall crypto market facing another downturn. Bitcoin is currently down nearly 2% on Friday. Ethereum ETF Approval Fails to Ignite BTC Price Despite the significant milestone of SEC's unexpected approval of Spot Ethereum ETFs, it failed to spark the anticipated surge in the crypto market. Instead, the following day witnessed Bitcoin struggling to maintain its position above $67,000, with Ethereum experiencing over a 3% decline, and several altcoins faring even worse. A 'Sell The News' Scenario The Ethereum community had likely anticipated a 'sell the news' scenario, considering Ethereum had already surged by over 28% in the last four days. BTC Breaks Out of Mini Bull Flag On the short-term hourly chart, Bitcoin has broken downwards out of a small bull flag, signaling a bearish trend. While there is support below, the price needs to hold steady to avoid dropping to the next support level at $64,000. False Breakout on Large BTC Bull Flag On the higher daily timeframe, a larger bull flag is evident. However, the price has reentered the flag, indicating a false breakout. Nonetheless, there is solid support at this level. If the price continues to decline, it could potentially fall back to $55,000. BTC Shows Positive Signs for the Future Despite these fluctuations, the 4-hour, 8-hour, and 12-hour stochastic RSIs are bottoming out, suggesting that upward momentum may soon resume for Bitcoin. In summary, the bull flag remains relevant, with substantial support levels beneath the current price, including highs from the previous 2021 bull market. Additionally, the weekly stochastic RSI indicates a cross up from the bottom, indicating a potential return of momentum. A shift is underway in the US political landscape concerning crypto, and with elections scheduled for November.
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#Write2earn Optimism for ADA & AVAX from Market Analyst Dan Gambardello $ADA $AVAX #Cardano #Avalanche #ETFs Dan Gambardello, a prominent market analyst and the brains behind CryptoCapitalVenture, sheds light on Cardano's potential ascent following the recent green light from the U.S. Securities and Exchange Commission (SEC) for spot Ethereum exchange-traded funds (ETFs). In a recent video, Gambardello referenced remarks from Coinbase's chief legal officer, Paul Grewal, who affirmed Ethereum's new status as a commodity. Gambardello suggests that this classification might extend to Cardano, asserting: "ADA has its own narrative, particularly regarding ETFs, given its decentralized nature and unique design. AVAX also boasts its own narrative, with Ava Labs' president actively advocating for the AVAX ETF." Gambardello holds strong convictions that both Cardano and AVAX are poised to emerge as standout performers among blue-chip altcoins. He anticipates ADA to surprise the market despite current holders feeling a sense of impatience. Furthermore, Gambardello stresses that the approval of ETH ETFs bodes well for all altcoin investors, including those backing Solana (SOL) and Cardano (ADA). He concludes that the "anti-crypto army" is on the losing end, signaling a positive shift in the crypto landscape.
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#Write2earn #SEC Approves Spot Ethereum ETFs from Major Players, Marking a New Era in Crypto Investing $ETH #ethereum #ethereumETF The U.S. Securities and Exchange Commission (SEC) has approved eight spot Ethereum ETFs from major players like BlackRock, Fidelity, and Grayscale, marking a significant shift in crypto investment options. Overview of the Approval On May 23, 2024, the SEC gave the green light to 19b-4 filings from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise through an omnibus order. This approval follows the recent introduction of spot Bitcoin ETFs in January, highlighting growing acceptance of digital asset investment products in the U.S. Details of the Process The approved ETFs will be listed on three major exchanges: CBOE, NYSE ARCA, and NASDAQ, broadening Ethereum's accessibility to investors. Despite this progress, trading can only commence once the issuers receive approval for their S-1 registration statements. While this process can take a few weeks, it has historically taken up to three months. Political Influence and Market Reactions The SEC's decision came unexpectedly, especially given their recent lack of engagement with issuers. Political pressure from House lawmakers, including Majority Whip Tom Emmer and NJ Democrat Josh Gottheimer, may have influenced the rapid approval. They urged the SEC to approve the ETFs to align with the agency's recent approval of spot Bitcoin ETFs. Insiders suggest that some parts of the SEC were surprised by the swift approval. Market analysts like Bloomberg’s Eric Balchunas estimate that Ethereum ETFs could attract 10-15% of the investment expected for Bitcoin ETFs, potentially garnering $5-$8 billion in the first few years. Next Steps and Market Outlook Issuers are now focused on obtaining S-1 registration approval, which is essential for trading to begin. Conversations between the SEC and issuers have started, but the exact timeline for approval remains uncertain.
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#Write2earn Crypto Market Faces Critical Support Loss Amid Bearish Trends and Regulatory Developments $BTC $ORDI #TotalMarketCap #MarketAnalysis The overall cryptocurrency market cap has dipped below the crucial $2.50 trillion mark, a key psychological support level. Bitcoin is also feeling the pressure, currently trading at $67,300. The market is experiencing mixed signals, with bearish macroeconomic conditions and bullish crypto developments. Among altcoins, Ordinals has taken the biggest hit. Today's Headlines: SEC Approves Ethereum ETFs CBDC Anti-Surveillance State Act Market Analysis: Total Crypto Market Cap: The total cryptocurrency market cap has fallen below the $2.50 trillion support level, a significant psychological barrier. This decline is concerning, especially given the bearish macroeconomic environment. Even the approval of spot Ethereum ETFs hasn't counteracted the bearish trend, potentially pushing the market cap down to $2.39 trillion. Reclaiming the $2.50 trillion level could signal a rise to $2.60 trillion. Bitcoin Price Movement: Bitcoin has seen a consistent decline, marked by a fourth consecutive red candlestick. The price has dropped from $71,800 to $67,293. Falling below the $68,500 support level has intensified bearish sentiment, with a potential further drop to $64,883. However, if Bitcoin reclaims the $68,500 support level, it could resume its bullish trend, potentially reaching $71,800. Ordinals Price Drop: Ordinals, after a ten-day upward trend, saw a sharp decline in the last 24 hours, dropping 10% to $37.4. This decline delays a potential breakthrough of the $44 resistance level, requiring a 12% recovery to reach this target. Achieving this recovery would invalidate the current bearish outlook and boost profits for ORDI holders.
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