A Step-by-Step Guide on How to Invest in Cryptocurrency - cyptoranking.com

2024-05-03

Popular crypto exchanges(2023 Update) 2024-05-03
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Payouts: Mining incentives are often dispersed to users in the form of bitcoin based on their share of total mining power. Depending on the contract terms, payments may be made daily, weekly, or monthly. The SEC is not making new policy when it comes to digital assets and is instead enforcing the existing law, NASAA argued in its brief. A Step-by-Step Guide on How to Invest in Cryptocurrency“Quarterly expiries are typically the most significant, in terms of volume and value,” Strijers said. “In the past month, we have seen stable markets while the Gamma of the September expiries has increased gradually as a function of time.” Bitcoin has been stuck inside a large range since April, indicating indecision about the next directional move. Efforts by the bears to sink the price below the support of the range were thwarted by the bulls on Sept. 11. However, Bitcoin (BTC) is not out of the woods yet. Jamie Coutts, a chartered market technician and crypto market analyst at Bloomberg Intelligence, told Cointelegraph that if the tightening cycle extends, followed by “an uptick in unemployment and more stress in the banking sector, then there could be a bit more pain for risk assets like Bitcoin.” Daily cryptocurrency market performance. Source: Coin360Cryptocurrency traders have also remained cautious. A Bitfinex report shows that the cryptocurrency industry witnessed capital outflows of $55 billion in August. The drop in liquidity has caused isolated events to “have a bigger impact on market movements,” the report added.Will Bitcoin turn down and retest its pivotal support? Could Bitcoin’s weakness trigger further selling in altcoins? Let’s study the charts of the top 10 cryptocurrencies to find out.Bitcoin price analysisBitcoin broke and closed above the 20-day exponential moving average (EMA) of $26,228 on Sept. 14, indicating that the downside momentum is weakening.BTC/USDT daily chart. Source: TradingViewThe 20-day EMA is flattening out and the relative strength index (RSI) is near the midpoint, signaling that the BTC/USDT pair may stay range-bound between $24,800 and $28,143 for some more time. If bears want to make a comeback, they will have to quickly pull the price back below the 20-day EMA. Such a move will suggest that higher levels are being sold into. That could result in a retest of the strong support at $24,800.Ether price analysisEther (ETH) plunged below the $1,550 support on Sept. 11, but the bears could not build upon this strength. This suggests solid buying at lower levels.ETH/USDT daily chart. Source: TradingViewThe bulls thereafter started a recovery, which has reached the 20-day EMA ($1,638). This level is likely to witness a tough battle between the bulls and the bears. A break and close above the 20-day EMA could trap several aggressive bears, resulting in a short squeeze. That could propel the price to $1,745.Instead, if the price turns down from the 20-day EMA, it will suggest that the bears remain in command. The sellers will then make another attempt to sink the ETH/USDT pair below $1,550 and resume the downtrend.BNB price analysisBNB (BNB) bounced off the psychological support near $200 on Sept. 12, indicating that the bulls are active at lower levels. BNB/USDT daily chart. Source: TradingViewThe recovery has reached the 20-day EMA ($215), which is an important level to watch out for. If the BNB/USDT pair turns lower from the current level, it will indicate that the sentiment remains negative and traders are selling on relief rallies. That will increase the risk of a breakdown below $200. Contrarily, the RSI is forming a positive divergence, indicating that selling pressure could be falling. A rise above the 20-day EMA could open the doors for a retest of the 50-day simple moving average (SMA) at $225.XRP price analysisXRP (XRP) has been trading between $0.41 and $0.56 for the past several days. The price has recovered to the 20-day EMA ($0.50), which is an important level to keep an eye on.XRP/USDT daily chart. Source: TradingViewIf buyers thrust the price above the 20-day EMA, it will indicate that the selling pressure is reducing. That could start a sustained recovery toward the overhead resistance at $0.56. This level may again act as a roadblock.If the price turns down from $0.56, it will indicate that the range-bound action may continue for some more time. The next trending move is likely to begin after bulls push the price above $0.56 or bears sink the XRP/USDT pair below $0.41.Cardano price analysisThe strong selling in Cardano (ADA) pulled the price to $0.24 on Sept. 11, but the bears could not break the crucial support.ADA/USDT daily chart. Source: TradingViewThe rebound off $0.24 on Sept. 12 reached the 20-day EMA ($0.26) on Sept. 15. This level is likely to witness a tussle between the buyers and sellers. If the ADA/USDT pair turns down sharply from the 20-day EMA, it will indicate that every minor rise is being sold. That could increase the risk of a drop to $0.22.Contrarily, if buyers shove the price above the 20-day EMA, it will signal the start of a stronger recovery to $0.28. Dogecoin price analysisDogecoin (DOGE) continues to trade between the 20-day EMA ($0.06) and the solid support at $0.06. This tight-range trading is unlikely to continue for long, and a breakout may happen soon. DOGE/USDT daily chart. Source: TradingViewIf buyers kick the price above the 20-day EMA, it will suggest that the sellers may be losing their grip. That could start a relief rally to the 50-day SMA ($0.07), where the bears are expected to intensify selling. Contrary to this assumption, if the price turns down sharply from the 20-day EMA, it will enhance the prospects of a break below $0.06. If this support breaks down, the DOGE/USDT pair may plummet to $0.055.Solana price analysisSolana’s SOL (SOL) has been swinging between $14 and $27.12 for the past several months. The price has reached the 20-day EMA ($19.51), where the bears are likely to pose a stiff challenge.SOL/USDT daily chart. Source: TradingViewIf buyers thrust the price above the 20-day EMA, the SOL/USDT pair could reach the overhead resistance at $22.30. This level may again act as a strong hurdle, but if bulls overcome it, the pair could climb to $27.12.On the contrary, if the price turns down from the 20-day EMA, it will signal that demand dries up at higher levels. The bears will then try to resume the downtrend and yank the price to the vital support at $14.Related: Japan to allow startups to raise funds by issuing crypto instead of stocks: ReportToncoin price analysisToncoin (TON) snapped back from the 20-day EMA ($1.75) on Sept. 12, indicating that the bulls are viewing the dips as a buying opportunity.TON/USDT daily chart. Source: TradingViewThe price reached the first resistance at $1.98 on Sept. 13, where the bears are trying to halt the up move. A minor advantage in favor of the bulls is that they have not ceded ground to the bears. This suggests that the bulls are in no hurry to book profits as they anticipate the up move to continue.If the $1.98 level is taken out, the TON/USDT pair could reach $2.07. This is an important level for the bears to defend because a break above it could propel the pair to $2.40. On the downside, a slide below the 20-day EMA could tilt the advantage in favor of the bears.Polkadot price analysisPolkadot's DOT (DOT) has been trading below the breakdown level of $4.22 for the past few days, which is a negative sign.DOT/USDT daily chart. Source: TradingViewThe bulls are trying to start a relief rally, but that is likely to face strong selling at $4.22. If the price turns down from the overhead resistance, it will suggest that bears remain in control. The sellers will then try to sink the DOT/USDT pair below $3.90. If they succeed, the pair could collapse to $3.44.If bulls want to prevent the decline, they will have to push and sustain the price above $4.22. If they do that, it will suggest that the markets have rejected the breakdown. The pair may then attempt a rally to the 50-day SMA ($4.61).Polygon price analysisPolygon’s MATIC (MATIC) slipped below the critical support at $0.51 on Sept. 11, but the bears could not maintain the selling pressure. That started a rebound, which is nearing the 20-day EMA ($0.54).MATIC/USDT daily chart. Source: TradingViewThe bears will attempt to stall the recovery at the 20-day EMA and tug the price below $0.50. If they manage to do that, it will signal the resumption of the downtrend. The MATIC/USDT pair could then slump to $0.45.Although the downsloping moving averages indicate advantage to bears, the positive divergence on the RSI suggests that the bearish momentum may be slowing down. If buyers clear the obstacle at the 20-day EMA, the pair may climb to $0.60.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.

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Lower operational costs The city-state already has a thriving crypto sector within it. Singapore houses the corporate offices of market data company Nansen, exchange Crypto.com, and DeFi protocol Kyber Network. Why crypto is falling?Is Dogecoin ready to soar? Ripple, on the other hand, has vehemently denied the SEC's charges. According to the business, XRP is not a security, but rather a digital currency akin to Bitcoin and Ethereum. Ripple claims that XRP has valid use cases, such as facilitating cross-border payments, and therefore it should not be classified as a security under US law.

HSBC Accepts SHIB for Mortgage Payments: From Sept. 26, HSBC started accepting Shiba Inu (SHIB) for mortgage payments as part of a groundbreaking move. The integration, facilitated by blockchain payment processor FCF Pay, enables HSBC customers to make mortgage payments with cryptocurrencies like Bitcoin (BTC) and SHIB. Advantages of DAO One Of These Cryptos Has 100x Price Potential In 2023, Dogecoin (DOGE) And Tradecurve (TCRV)The restructuring at Blocknative adds to job cuts in the blockchain industry that have accelerated in recent weeks with digital-asset markets seemingly stalled, including prices for bitcoin (BTC) and Ethereum’s ether (ETH), and deepening the pall known as “crypto winter.” For the longest time, crypto has served as an alternative institution: Whether it’s for finance, art or community, it’s considered a tokenized counter-cultural movement. Permissionless, trustless, decentralized, open, embracing the fringe — a community where everyone is welcome, and no one can tell us what to do.

Christen Ager-Hanssen believes Craig Wright is running the Satoshi account. Source: X (Twitter) This type of non-fungible token, represented by the ERC-6551 token standard, which improves some aspects of the well-known ERC-721 standard, has been a huge success on Polygon for a few months now. What Do Binance.US's New Rules on Trading Dollars ...According to the release, the platform received reports from customers about unauthorized trades occurring shortly after their passwords had been reset. XRP technical analysis hints at 50% crash in 2023From a technical perspective, XRP’s recent price action has painted what appears to be a bump-and-run-eversal (BARR) pattern.BARR forms when excessive speculation drives an asset’s price higher speedily, eventually leading to a “bull trap” situation. The pattern is confirmed after the price breaks below its lead-in trendline, falling by as much as its maximum height, as illustrated below.XRP/USD three-day price chart ft. BARR pattern setup. Source: TradingViewThus, the bearish target for XRP price in this scenario is a 50% drop to $0.25 over the next few months. Related: Bitcoin bulls encircle $28K as trader says ‘big’ buyer must step inConversely, the downside outlook may become invalid if XRP price reclaims the lead-in-trendline and its 50-3D (the red wave) and 200-3D (the blue wave) exponential moving averages (EMAs) as support. XRP/USD three-day price chart. Source: TradingViewThis bullish case would put XRP’s price next upside target at its 0.236 Fib line near $0.69, up around 40% from current price levels. 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.

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