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2024-05-01

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In a space where past trends can sometimes indicate future outcomes, ETH’s price behavior, when viewed against BTC, offers a tale of potential concern. This spike in volume has led market participants to speculate whether a large trader, referred to as a “whale,” possesses privileged information pertaining to imminent events and has accordingly chosen to accumulate positions. Best Cryptocurrency Wallet for Mobile, DesktopConsidering the weekly price action for BTC, it could be said that BTC has been on a roller coaster ride. It was exchanging hands at $27.55K when the markets opened for trading for this week. For the first three days, BTC price action was all over the place. At times it gained value and rose above the opening market price and, at other times, it lost value and sank below the opening market price. CryptoNight was designed to give CPUs and GPUs an equal opportunity to mine blocks and discourage ASIC miners’ use.

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Encryption transformation Campbell revealed her resignation in a LinkedIn statement on October 9. Cryptocurrency usage skyrockets-InsightsEstablished in May, CyberDefender is a project launched by the Cyber Security and Technology Crime Bureau of the Hong Kong Police Force, aimed at increasing local citizen’s awareness of online security risks. Understanding mining algorithms

Clay Nation, a project of 10,000 non-fungible tokens (NFTs), announced the launch of a new blockchain bridge for Cardano and Polygon networks in The Sandbox metaverse. The United States’ equities markets are on a recovery path. The S&P 500 Index (SPX) surged 2.50% last week to record its best week since June. Even though Bitcoin (BTC) also attempted a relief rally, the bulls could not sustain the higher levels. In the end, Bitcoin finished the week with a marginal loss of 0.5%.One of the main reasons Bitcoin gave back its gains was because the Securities and Exchange Commission delayed its decision on all spot Bitcoin exchange-traded fund (ETF) applications. However, this has not dented the expectations of analysts. In a recent note, JPMorgan analysts said that the regulator will eventually approve several Bitcoin ETFs.Daily cryptocurrency market performance. Source: Coin360The short-term price action in Bitcoin remains in flux, but that has not deterred the long-term investors who have held onto their stockpile. Glassnode data shows that the currently mined supply dormant for three years or more has hit a new high of 40.538%.Could Bitcoin break out of its range in the next few days? What are the important levels to watch out for? Let’s analyze the charts to find out.S&P 500 index price analysisThe S&P 500 index broke above the moving averages on Aug. 29, indicating that bulls have started a strong relief rally. SPX daily chart. Source: TradingViewIf buyers sustain the price above the moving averages, it will suggest that the sentiment remains positive and traders are buying on minor dips. That will enhance the prospects of a rally above the overhead resistance at 4,607. If this level is conquered, the index will try to rise to 4,650 and subsequently to 4,800.Resuming the uptrend is likely to be a difficult task, as the bears will try to yank the price below the moving averages. If they do that, the pair may slump to the strong support at 4,325. The bears will have to break this level to start a new downtrend. U.S. Dollar Index price analysisThe U.S. Dollar Index (DXY) bounced off the downtrend line on Aug. 30 and 31, indicating that the bulls have flipped the level into support.DXY daily chart. Source: TradingViewThe bulls will next try to propel the price above 104.45 and start a rally to the overhead resistance at 106. This level is likely to witness aggressive selling by the bears because a break above it will indicate that the downtrend may be over. The index could then rise to 108. The important support to watch for on the downside is the downtrend line. If this support crumbles, the index may descend to the 50-day simple moving average (SMA) (102.41) and eventually to the critical support at 100.82. Bitcoin price analysisBitcoin is trading near the support of the large range between $24,800 and $31,000. When the price trades inside a range, bulls generally purchase the drop near the support and sell close to the resistance.BTC/USDT daily chart. Source: TradingViewThe $24,800 level will witness an intense battle between the bulls and the bears. If this level gives way, the selling is likely to accelerate, and the BTC/USDT pair could nosedive to the crucial support at $20,000. There is a minor support at $24,000, but it may not hold for long. Another possibility is that the price turns up from the current level. If bulls surmount the barrier at $26,833, the pair could accelerate to the 50-day SMA ($28,221). Such a move will suggest that the pair may extend its stay inside the $24,800–$31,000 range for even longer. Ether price analysisEther (ETH) dipped below the strong support at $1,626 on Sept. 1, but the long tail on the candlestick shows solid buying at lower levels.ETH/USDT daily chart. Source: TradingViewThe bulls are trying to salvage the situation but are struggling to start a rebound. This suggests a lack of demand at higher levels. Both moving averages are sloping down, and the RSI is in negative territory, indicating that the bears remain in command.If sellers drag the price below $1,600, the ETH/USDT pair could dive to the Aug. 17 intraday low of $1,550. This is the pivot level in the near term because a fall below it may open the gates for a decline to $1,368.The first sign of strength will be a break above the 20-day exponential moving average (EMA) ($1,684). The pair could then rise to the overhead resistance at $1,750.BNB price analysisBNB (BNB) has been trading below the breakdown level of $220 for the past few days, but the bears have not been able to build upon their advantage. BNB/USDT daily chart. Source: TradingViewThe failure to sink the price below the psychological level of $200 could embolden the bulls who will try to start a recovery. The first hurdle on the upside is at $220 and then at the resistance line. Buyers will have to thrust the price above the resistance line to indicate that the downtrend may be ending.Contrarily, if the price turns down and breaks below $200, it will suggest the start of the next leg of the downtrend. The BNB/USDT pair then risks sliding to the next major support at $183. XRP price analysisThe bears yanked XRP (XRP) price below $0.50 on Sept. 1, but they could not sustain the lower levels, as seen from the long tail on the day’s candlestick. XRP/USDT daily chart. Source: TradingViewThe bears kept up the pressure and have not allowed the bulls to start a strong rebound off the $0.50 level. This increases the possibility of a downside break. If that happens, the XRP/USDT pair is in danger of plunging to $0.41.Contrary to this assumption, if the price turns up from the current level and breaks above the 20-day EMA ($0.53), it will signal that the bulls are attempting a comeback. The pair may then shoot up to $0.56. Buyers will have to overcome this barrier to indicate the start of a new up-move to $0.65.Cardano price analysis Cardano’s ADA (ADA) has been consolidating between $0.24 and $0.28 for the past few days, indicating indecision between the bulls and the bears.ADA/USDT daily chart. Source: TradingViewThe downsloping 20-day EMA ($0.26) and the RSI below 38 suggest a slight advantage to the bears. If the price turns down from the 20-day EMA, the likelihood of a drop to $0.24 increases. A break below this level may start the next leg of the downtrend to $0.22 and subsequently to $0.20.Contrarily, if bulls push the price above the 20-day EMA, the ADA/USDT pair could challenge the resistance at the 50-day SMA ($0.28). If this level is scaled, the pair is likely to rise to $0.32.Related: Bitcoin ETF applications: Who is filing and when the SEC may decideDogecoin price analysisBuyers tried to push Dogecoin (DOGE) above the 20-day EMA ($0.07) on Sept. 2, but the bears held their ground. DOGE/USDT daily chart. Source: TradingViewThat keeps the DOGE/USDT pair stuck between the 20-day EMA and the important support at $0.06. The downsloping 20-day EMA and the RSI in the negative zone indicate an advantage to sellers. If the price breaks below $0.06, the selling could intensify, and the pair may plummet to the next support at $0.055.If bulls want to prevent the decline, they will have to quickly drive the price above the 20-day EMA. If they succeed, the pair can jump to the 50-day SMA ($0.07) and later surge to $0.08.Solana price analysisSolana’s SOL (SOL) is in a strong corrective phase. Buyers are trying to start a relief rally, but it is likely to face selling at the downtrend line.SOL/USDT daily chart. Source: TradingViewIf the price turns down sharply from the current level or the downtrend line, it will suggest that the sentiment remains negative and traders are selling on rallies. That may pull the price to $18.32 and thereafter to $16.This negative view could be invalidated in the near term if bulls kick the price above the downtrend line. The SOL/USDT pair can then attempt a rally to $22.30, where the bears will likely mount a strong defense.Toncoin price analysisToncoin’s (TON) rally has stalled near the overhead resistance at $2.07, but a minor positive is that the bulls have not ceded much ground to the bears. This suggests that the bulls are holding on to their positions. TON/USDT daily chart. Source: TradingViewThe overbought levels on the RSI suggest a possible correction or consolidation in the near term. The important support to watch on the downside is the 20-day EMA ($1.61) because a break below it could drag the price to $1.53 and later to the 50-day SMA ($1.40).On the upside, the bulls will have to clear the hurdle at $2.07. If they manage to do that, the TON/USDT pair could indicate the resumption of the uptrend. The pair may then attempt a rally to the $2.40–$2.60 overhead zone. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. How to Buy Dogecoin on eToro:A Step-by-Step GuideGeneral Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.“Ethereum is sick”, Claims Engaged Value Investor United States 10-year Treasury yields soared above 4.8% on Oct. 3, their highest level since 2007. DoubleLine Capital CEO Jeffrey Gundlach said in a post on X (formerly Twitter) that the spread between the 2-year and 10-year Treasury yields has narrowed from 109 basis points a few months ago to 35 basis points. He cautioned that this “should put everyone on recession warning.”Arthur Hayes, former CEO of crypto exchange BitMEX, warned in a recent X thread that the government will have to print money to save the bond market as a faster bear steepener — a condition where long-term interest rates rise more quickly than short-term rates — will cause firms to collapse. Some investors believe that this could trigger a cryptocurrency bull market.Daily cryptocurrency market performance. Source: Coin360It also looks like the institutional investors have started to warm up to cryptocurrencies. CoinShares’ latest Digital Asset Fund Flows Weekly Report shows inflows of $21 million into digital asset investment products for the first time in six weeks. In this uncertain macro environment, let’s take a look at the charts to determine the next potential move.Bitcoin price analysisBitcoin (BTC) rose above $28,143 on Oct. 2 but the long wick on the candlestick shows the bears are aggressively selling at higher levels. The bears tried to build upon their advantage on Oct. 3 but the bulls held their ground at $27,160.BTC/USDT daily chart. Source: TradingViewThe upsloping 20-day exponential moving average ($26,903) and the relative strength index (RSI) in the positive territory indicate that bulls have the upper hand. Buyers will once again try to clear the overhead resistance at $28,143.A close above this level will complete a short-term double bottom pattern, which has a target objective of $31,486.This positive view will be invalidated if the price once again turns down from the overhead resistance and plummets below the 20-day EMA. That could yank the price to $26,000. The BTC/USDT pair could then continue to consolidate between $24,800 and $28,143 for a while longer.Ether price analysisEther (ETH) turned down sharply from the overhead resistance of $1,746 on Oct. 2, indicating that the bears are fiercely guarding this level.ETH/USDT daily chart. Source: TradingViewThe 20-day EMA ($1,640) is flattening out and the RSI is near the midpoint, indicating a balance between supply and demand. If the price turns up from the current level, the bulls will again try to overcome the obstacle at $1,746. If they can pull it off, the ETH/USDT pair will complete a double bottom pattern, having a target objective of $1,961.On the other hand, if the price continues lower and tumbles below the moving averages, it will suggest that the pair may extend its stay inside the $1,531 to $1,746 range for some more time. BNB price analysisBNB (BNB) jumped above the $220 resistance on Oct. 2 but the bulls could not sustain the breakout as seen from the long wick on the day’s candlestick.BNB/USDT daily chart. Source: TradingViewThe failure of the bulls to maintain the price above the 20-day EMA ($214) is a negative sign. It shows that traders are rushing to the exit. The BNB/USDT pair could next fall to the uptrend line. If the price rebounds off this level, the bulls will again try to push the pair above $220. A close above this resistance could signal the start of an up-move to $235 and thereafter to $250. Instead, if the price breaks below the uptrend line, the pair may decline to the formidable support at $203.XRP price analysisBuyers pushed XRP (XRP) above the symmetrical triangle pattern on Sep. 29 and then foiled several attempts by the bears to pull the price back into the triangle. XRP/USDT daily chart. Source: TradingViewThe bulls will next try to surmount the overhead resistance at $0.56. If they are successful, it will signal the start of a new uptrend. The XRP/USDT pair could then start its journey toward the pattern at $0.66.Conversely, if the price turns down from $0.56 and dives below the uptrend line, it will suggest that the bulls are booking profits. That could keep the pair range-bound between $0.56 and $0.41 for a few more days. Solana price analysisSolana (SOL) has been oscillating inside a large range between $14 and $27.12. The price action of the past few days has resulted in the formation of a potential inverse head and shoulders pattern.SOL/USDT daily chart. Source: TradingViewAlthough setups formed inside a range tend to be less reliable, still they should not be neglected. If the price turns up and breaks above the neckline, the SOL/USDT pair could attempt a rally to $27.12 and eventually to the pattern target of $32.81.The critical support to watch on the downside is the 20-day EMA ($20.95). If the price slides below this level, it will suggest that the bulls have given up. That could open the gates for a possible drop to $17.33.Cardano price analysisCardano (ADA) turned down from $0.27 on Oct. 2 and reached the 20-day EMA ($0.25) on Oct. 4. This is an important level to keep an eye on in the near term.ADA/USDT daily chart. Source: TradingViewIf the price rebounds off the 20-day EMA, it will indicate a change in sentiment from selling on rallies to buying on dips. The bulls will then try to shove the price above $0.27 and start an up-move to $0.29 and later to $0.32.If bears want to prevent the rally, they will have to drag the price below the 20-day EMA. The ADA/USDT pair may then once again descend to the vital support at $0.24. The bulls are likely to protect this level with vigor.Dogecoin price analysisThe bulls pushed Dogecoin (DOGE) above the 50-day SMA ($0.06) on Oct. 2 but could not sustain the higher levels. This suggests that bears are selling on every minor relief rally.DOGE/USDT daily chart. Source: TradingViewThe DOGE/USDT pair has reached the formidable support at $0.06. The repeated retest of a support level within a short interval tends to weaken it. If the $0.06 level cracks, the pair may slump to the next major support at $0.055. A minor advantage in favor of the buyers is that the RSI has formed a bullish divergence. This suggests the bears may be losing their grip. The indicators are not providing clarity about the next move. Hence, it is best to wait for the price to close above the 50-day SMA or plunge below $0.06 to place directional bets.Related: Bitcoin traders hope $27K holds as BTC price ignores volatile US dollarToncoin price analysisToncoin (TON) fell below the 20-day EMA ($2.09) on Sep. 30 and the bears thwarted attempts by the bulls to reclaim the level on Oct. 1. TON/USDT daily chart. Source: TradingViewThe bears are trying to solidify their position by sinking the price to the 50-day SMA ($1.86). This level may result in a rebound that is likely to face selling at the 20-day EMA.If the price turns down from this resistance, it will suggest that the sentiment has turned bearish and traders are selling on rallies. That will increase the likelihood of a drop below the 50-day SMA.On the contrary, if the price turns up and surges above the 20-day EMA, it will suggest that the markets have rejected the lower levels. The TON/USDT pair could then rise to $2.32 where the bears will again try to halt the up-move.Polkadot price analysisPolkadot (DOT) turned down sharply from the 50-day SMA ($4.24) on Oct. 2 and broke below the 20-day EMA ($4.10) on Oct. 3.DOT/USDT daily chart. Source: TradingViewThe bears challenged the important support at $3.91 on Oct. 4 but the long tail on the candlestick shows strong buying at lower levels. The RSI has formed a bullish divergence, indicating that the sellers may be losing their grip.If the bulls push the price above the 20-day EMA, it will suggest that the DOT/USDT pair may extend its stay inside the $4.33 to $3.91 range for some more time. The bears will have to sink the price below $3.91 to start the next leg of the downtrend to $3.50.Polygon price analysisAfter witnessing a tough battle between the bulls and the bears near the moving averages, Polygon (MATIC) bounced on Oct. 4, indicating that buyers are trying to take charge.MATIC/USDT daily chart. Source: TradingViewThe bulls are trying to build upon the strength and propel the price above the overhead resistance at $0.60. If they manage to do that, it will signal the start of a sustained recovery. The MATIC/USDT pair could then rise to $0.70.Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it will indicate that the bears are active at higher levels. The pair may then retest the crucial support at $0.49. This level is likely to attract solid buying by the bulls.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

— Ally Zach (@0xallyzach) October 6, 2023 The tweets allege these central players have disguised their pursuit of personal wealth as decentralized progress, selling out integrity for monetary gains. However, such inflammatory accusations remain subjective opinions rather than proven facts. How to buy Ethereum (ETH) GuideThe Kering-owned Italian powerhouse has translated the event into dedicated experiences playing out on gaming platforms Roblox, South Korea’s Zepeto, and China’s QQ, ensuring that the aforementioned sense of inclusivity expands also to the metaverse. A day after Valkyrie Investments became the first to offer ether futures exposure in an ETF, the crypto-focused firm is getting rid of those holdings.

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