Pharrell Williams joins CXIP to help form a DAO that protects artist rights - cyptoranking.com

2024-04-27

Popular crypto exchanges(2023 Update) 2024-04-27
Image: cyptoranking.com

Bitcoin (BTC) is attempting to trade above $27,000 in a positive sign. In the past few days, Bitcoin’s price held above $26,000 in adverse conditions as the U.S. Dollar Index rose sharply and the S&P 500 index was plunging. This suggests that selling dries up at lower levels.The decision by the United States Securities and Exchange Commission to delay the applications for multiple spot Bitcoin exchange-traded funds (ETFs) ahead of schedule also did not dent prices. This indicates that the market participants are taking a longer-term view of Bitcoin. Bloomberg ETF analyst James Seyffart believes that the regulator took an early decision because of the risk of a U.S. government shutdown on Oct. 1.Daily cryptocurrency market performance. Source: Coin360Bitcoin’s resilience over the past few days seems to have boosted trader’s sentiment. That helped start a recovery in most major altcoins, which are trying to climb above their respective resistance levels.Could Bitcoin extend its up-move in the near term and will that start a revival in the crypto space? Let’s study the charts of the top 10 cryptocurrencies to find out.Bitcoin price analysisAfter struggling for several days, the bulls finally propelled Bitcoin above the moving averages on Sept. 28. The bulls are currently trying to thwart attempts by the bears to yank the price back below the 20-day exponential moving average ($26,534).BTC/USDT daily chart. Source: TradingViewThe moving averages are on the verge of a bullish crossover, and the relative strength index (RSI) is in the positive territory, indicating that the path of least resistance is to the upside. There is a minor resistance at $27,500, but it is likely to be crossed. The BTC/USDT pair could then rally to the overhead resistance at $28,143. This level is again likely to witness a tough battle between the bulls and the bears.On the downside, the $26,000 level is important to watch out for. If this level gives way, the advantage will tilt in favor of the bears. The pair may then nosedive to the formidable support at $24,800.Ether price analysisEther (ETH) climbed and closed above the 20-day EMA ($1,622) on Sept. 28, indicating that the selling pressure is reducing. The buyers continued their purchase and cleared the hurdle at the 50-day simple moving average ($1,660) on Sept. 29.ETH/USDT daily chart. Source: TradingViewThe bulls will try to drive the price to the overhead resistance of $1,746. This is an important level to keep an eye on because if buyers overcome this barrier, the ETH/USDT pair will complete a double bottom pattern. This reversal setup has a target objective of $1,961.On the contrary, if the price turns down from $1,746, it will indicate that the bears remain sellers on rallies. The price could then dip to the 20-day EMA. If the price rebounds off this support, it will enhance the prospects of a rally above $1,746. The bears will be back in the game if they drag the price back below the 20-day EMA.BNB price analysisBNB (BNB) has been trading inside the $220 to $203 range for the past few days. The bulls are trying to nudge the price to the overhead resistance at $220.BNB/USDT daily chart. Source: TradingViewThe 20-day EMA ($213) is flat but the RSI has risen into positive territory, indicating that the momentum is turning in favor of the bulls. If the $220 resistance is surmounted, the BNB/USDT pair could surge to $235.Contrary to this assumption, if the price turns down sharply from $220, it will indicate that the range-bound action may continue for a while longer. The next leg of the downtrend will begin after bears tug the price below $203.XRP price analysisBuyers pushed XRP (XRP) above the 20-day EMA ($0.50) on Sept. 28 and followed that up with a move above the resistance line of the symmetrical triangle pattern on Sept. 29.XRP/USDT daily chart. Source: TradingViewIf the price sustains above the triangle, it will signal that the uncertainty has resolved in favor of the buyers. The XRP/USDT pair could then rally to the overhead resistance at $0.56. This is an important resistance to watch out for because a break above it will clear the path for a potential rally to the pattern target of $0.64.Contrarily, if the price turns down and reenters the triangle, it will indicate that markets have rejected the higher levels. The bears will then try to gain the edge by pulling the price below the uptrend line of the triangle.Cardano price analysisThe bulls are trying to sustain Cardano (ADA) above the 20-day EMA ($0.25) on Sept. 29, which shows that the bears are losing their grip.ADA/USDT daily chart. Source: TradingViewA break and close above the downtrend line will invalidate the bearish descending triangle pattern. Generally, the failure of a bearish pattern results in a sharp up-move as the sellers rush to exit their shorts and the bulls waiting on the sidelines start buying. That could propel the ADA/USDT pair to $0.29 and subsequently to $0.32.Time is running out for the bears. If they want to regain control, they will have to defend the downtrend line and pull the price below $0.24. The next support on the downside is at $0.22.Dogecoin price analysisDogecoin’s (DOGE) range has shrunk in the past few days, increasing the prospect of a range expansion within the next few days.DOGE/USDT daily chart. Source: TradingViewThe 20-day EMA ($0.06) is flattening out and the RSI is just below the midpoint, indicating a balance between supply and demand. If buyers kick the price above the 20-day EMA with force, it will signal the start of a recovery. The DOGE/USDT pair could first rise to $0.07 and thereafter to $0.08.If bears want to prevent the upside, they must quickly drag the price below $0.06. If they do that, the pair may plunge to the next critical support at $0.055.Solana price analysisSolana (SOL) remains stuck inside the large range between $27.12 and $14 for the past several days. Trading inside a range can be random and volatile as bulls typically buy at the support and sell near the resistance.SOL/USDT daily chart. Source: TradingViewThe bulls are trying to start a relief rally, which has reached the 50-day SMA ($20.44). This is an important level to watch out for because a break above it will suggest that the bulls are back in the game. The SOL/USDT pair could then rise to $22.30.Instead, if the price turns down from the 50-day SMA, it will indicate that the bears are active at higher levels. Sellers will have to tug the price below $18.50 to open the doors for a retest of $17.33.Related: Why is Ether (ETH) price up today?Toncoin price analysisToncoin (TON) rebounded off the 20-day EMA ($2.13) on Sept. 27, indicating that the sentiment remains positive and traders are buying on dips. TON/USDT daily chart. Source: TradingViewThe long wick on the Sept. 27 and 28 candlestick shows that the bears are selling at the 38.2% Fibonacci retracement level of $2.28. However, a positive sign in favor of the bulls is that they have not allowed the price to slip below the 20-day EMA. Buyers will have to shove the price above the 61.8% Fibonacci retracement level of $2.40 to open the doors for a retest of the stiff overhead resistance at $2.59. This positive view will invalidate if the price turns down and plummets below $2.07.Polkadot price analysisThe failure of the bears to sink Polkadot (DOT) below the $3.91 support indicates that the range-bound action remains intact.DOT/USDT daily chart. Source: TradingViewBuyers will try to drive the price above the 20-day EMA ($4.10) and challenge the overhead resistance at the 50-day SMA ($4.32). If this level is cleared, the DOT/USDT pair could surge to the downtrend line. The bulls will have to overcome this barrier to signal a potential trend change.The important support to watch on the downside is $3.91. A break below this level will suggest the resumption of the downtrend toward $3.58.Polygon price analysisPolygon (MATIC) turned up from $0.50 on Sept. 28 indicating solid buying at lower levels. The price has reached the 20-day EMA ($0.52), which is an important level to keep an eye on.MATIC/USDT daily chart. Source: TradingViewThe positive divergence on the RSI indicates that the selling pressure is reducing. That enhances the prospects of a break above the moving averages. The MATIC/USDT pair could then retest the overhead resistance at $0.60. The bears are expected to protect this level with vigor.If bears want to maintain their control, they will have to yank the price below the strong support at $0.49. If this support gives way, the pair may drop to $0.45.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. In August, the London-based institutional crypto exchange outlined plans to expand its offerings with Solana and Litecoin. The platform also announced support for trading pairs against USDC and GBP. Initially, Archax offered trading pairs for Bitcoin and Ethereum against the US dollar. Pharrell Williams joins CXIP to help form a DAO that protects artist rights“A lot of game studios are building games from Web2 and slapping an NFT on top of it,” Sunarto said. “I’m really passionate about finding interesting ways to use crypto levers to make Web3 gaming much more appealing beyond just having collectibles.” Even after The Merge, Ethereum still continues to have the same gas fees. But, that is good news for Polygon, because everyone would require the layer scaling solution of Polygon with reduced gas fees and it will also help clear up the blockchain congestion.

Exchange Rankings Crypto
Image: cyptoranking.com

Number of New Addresses Buying Bitcoin Drops to 4-Month Low The ongoing legal showdown between Ripple and the United States Securities and Exchange Commission (SEC) took a significant turn recently with Ripple securing its second consecutive victory, setting the stage for a critical trial scheduled for April 23, 2024. Southern District of New York|Russian Nationals Charged ...Cowen recognizes that The Merge, with its deflationary component, could mean ETH might not toe its historical line. This deflationary aspect could be Ethereum’s wild card, making its trajectory even more elusive. “You have a contact,” Carrica says. “You message them through WhatsApp and say, ‘I want to sell a thousand dollars.’”

Yet, it’s not all bleak. Cowen remains measured, as he acknowledges the change the nature of “The Merge” brought on Ethereum’s ecosystem, believing it is a “game changer.” While Cowen wasn’t overly optimistic, the analyst refrained from forecasting ETH’s next moves, primarily due to the unpredictable ripple effects of The Merge. The presenter mentioned Nishad Singh, another early hire at Alameda, as one of the people to testify against SBF. Singh served as the director of engineering at Alameda before becoming the head of engineering at FTX after it launched. The Altcoin Daily host noted that Singh was one of the three people who controlled the keys to FTX’s marching engine. In February, Singh pleaded guilty to six criminal charges, including fraud and conspiracy. Buy Bitcoin on Ripio (Argentina/Brazil)-Purse Help CenterThe digital yuan, China’s central bank digital currency, is debuting a new interconnecting feature with the Hong Kong banking system that allows visitors and tourists to create and top up a digital yuan wallet using foreign accounts. The system, designed by the Digital Currency Research Institute of the People’s Bank of China (PBOC), links digital yuan wallets with the Faster Payments System (FPS) of the Hong Kong Monetary Authority. High Gas Fees Alert: Binance Wallet Records $840,000 in Abnormal Ethereum Charges

Among other requirements, Uzbekistan’s cryptocurrency watchdog demanded companies set up a dedicated room for installing mining equipment and only mine crypto by the registered address. The rules also require crypto mining firms to provide timely and full payment or mining fees established by regulators. Presently, Fluid is in its preliminary testing stages. The team expects to finalize the audits by the end of November and is planning a bug bounty event in December. The official release of the protocol is projected for January. Dogecoin Price Prediction-Will Dogecoin reach $1 thanks to Elon?“You can buy stocks in New York and then transfer them to Argentina,” for example, or “you can buy casino chips in a casino in Uruguay that has a location in Buenos Aires.” How Does Pig Butchering Work?

Have an opinion on this story? Share it!