The S&P 500 Index is extending its recovery, boosting buying in Bitcoin and select altcoins in the near term.
Bitcoin’s recovery bounce is losing steam, indicating that the bears remain active at higher levels.
Binance, one of the largest crypto exchanges in the world, is facing regulatory scrutiny again. The exchange has been slammed with a show-cause notice from India’s Directorate General of GST Intelligence (DGGI) two months after paying a $2 million fine to the Financial Intelligence Unit (FIU). The notice demands over $80 million from the crypto […]
Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows.
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.
BNB price is holding the $565 support zone. The price is now consolidating and might aim for more gains above $590 in the near term. BNB price started a decent upward move from the $565 support zone. The price is now trading above $580 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $582 on the hourly chart of the BNB/USD pair (data source from Binance). The pair could extend its increase if it clears the $590 resistance in the near term. BNB Price Eyes More Upsides In the past few days, BNB price saw a decent upward move from the $565 support zone, like Ethereum and Bitcoin. The price was able to climb above the $572 and $580 resistance levels. It even cleared the $582 resistance. The current wave surpassed the 50% Fib retracement level of the downward move from the $597 swing high to the $568 low. Besides, there was a break above a key bearish trend line with resistance at $582 on the hourly chart of the BNB/USD pair. The price is now trading above $582 and the 100-hourly simple moving average. It is now consolidating near the 61.8% Fib retracement level of the downward move from the $597 swing high to the $568 low. On the upside, the price could face resistance near the $588 level. The next resistance sits near the $590 level. A clear move above the $590 zone could send the price higher. In the stated case, BNB price could test $600. A close above the $600 resistance might set the pace for a larger increase toward the $620 resistance. Any more gains might call for a test of the $632 level in the near term. Are Dips Limited? If BNB fails to clear the $590 resistance, it could start a downside correction. Initial support on the downside is near the $582 level or the 100-hourly simple moving average. The next major support is near the $575 level. The main support sits at $565. If there is a downside break below the $565 support, the price could drop toward the $550 support. Any more losses could initiate a larger decline toward the $532 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $582 and $575. Major Resistance Levels – $590 and $600.
After a drab week characterized by Bitcoin, Ethereum, and Solana prices either dumping or moving sideways, prices bounced off strongly by the end of last week. Of note, losses in Ethereum were arrested as prices recovered, rising from around $3,000. At the same time, Bitcoin and Solana pushed higher, closing in on $70,000 and $200, respectively. Interest In Bitcoin, Ethereum, And Solana Spikes According to Santiment data, despite weakness across the scene, there were hints of strength at the tail end of last week. Of note was renewed interest, where Solana, Bitcoin, and Ethereum saw a marked spike in trading volume. Related Reading: Fantom (FTM) Regains Momentum After Weeks Long Bleed – Will This Continue? When trading volume surges, it often suggests that market participants are curious and willing to engage, especially if prices are rising. Since these top coins were firm, rejecting losses, especially from Friday, July 26, buyers were in the equation, looking to capitalize. As Santiment analysts noted, how Bitcoin, Ethereum, and Solana perform tends to impact the general market. If Ethereum rallies, for example, it would benefit the broader layer-2 and 3 ecosystems. This will push meme coins and even decentralized finance (DeFi) activity even higher. There were multiple factors behind this interest. In Bitcoin’s case, shifting regulatory perspective on the world’s most valuable coin and increasing endorsement from politicians, especially in the United States, could explain why more are willing to learn about the coin. The Impact Of Trump, Spot Ethereum ETFs, And SOL Flipping BNB Over the weekend, Donald Trump, the former president and the presidential candidate in the upcoming November election, delivered a keynote address at the recently concluded Bitcoin conference in Nashville. Trump expressed his support for Bitcoin, saying he would make America the home of crypto. Meanwhile, eyes were on Ethereum following the approval of spot ETFs by the United States Securities and Exchange Commission (SEC). Though the derivative product began trading at leading bourses, including the NYSE and Cboe, inflows remain low. If anything, Farside data showed that by Friday, spot Ethereum ETFs had posted outflows for three consecutive days. Outflows from Grayscale’s ETHE chiefly drove this. Even amid this unexpected development, BlackRock’s spot Ethereum ETF product saw over $87 million inflows on July 26. Related Reading: Donald Trump Reveals Plans For US Government’s 213,239 Bitcoin If Elected Traders also tracked Solana after the coin flipped BNB as the third most valuable cryptocurrency, excluding stablecoins. According to July 29, SOL commanded a market cap of $88.5 billion, while BNB stood at $86.5 billion, according to CoinMarketCap data. Over the past few weeks, SOL has been edging higher. To put in the numbers, SOL is up 56% from July lows. It will likely register fresh Q3 2024 highs if buyers breach $200. Feature image from DALLE, chart from TradingView
Bitcoin turned up sharply and broke above the overhead resistance, indicating the resumption of the upmove toward $70,000.
Bitcoin turned up sharply and broke above the overhead resistance, indicating the resumption of the upmove toward $70,000.
Bitcoin and altcoin traders set their sight on new all-time highs now that BTC price is back above $63,000.
BNB price started a recovery wave above the $500 resistance. The price is now consolidating and might aim for more gains above $530. BNB price started a decent upward move from the $472 support zone. The price is now trading above $500 and the 100-hourly simple moving average. There is a key rising channel forming with support at $518 on the hourly chart of the BNB/USD pair (data source from Binance). The pair could extend its recovery wave if it clears the $530 resistance in the near term. BNB Price Starts Recovery In the past few days, BNB price saw a decent recovery wave from the $472 support zone, like Ethereum and Bitcoin. The price was able to climb above the $495 and $500 resistance levels. It even cleared the $520 resistance, but the bears were active near the $530 zone. A high was formed at $529.2 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $471 swing low to the $529 high. The price is now trading above $520 and the 100-hourly simple moving average. There is also a key rising channel forming with support at $518 on the hourly chart of the BNB/USD pair. If there is another recovery wave, the price could face resistance near the $530 level. The next resistance sits near the $542 level. A clear move above the $542 zone could send the price higher. In the stated case, BNB price could test $550. A close above the $550 resistance might set the pace for a larger increase toward the $565 resistance. Any more gains might call for a test of the $580 level in the coming days. Another Decline? If BNB fails to clear the $530 resistance, it could start a fresh decline. Initial support on the downside is near the $520 level or the channel trend line. The next major support is near the $508 level. The main support sits at $500 and the 50% Fib retracement level of the upward move from the $471 swing low to the $529 high. If there is a downside break below the $500 support, the price could drop toward the $485 support. Any more losses could initiate a larger decline toward the $472 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently near the 50 level. Major Support Levels – $520 and $500. Major Resistance Levels – $530 and $542.
Binance US is preparing for a legal battle against the Securities and Exchange Commission (SEC) after the District Court for the District of Columbia determined the SEC’s lawsuit would continue. The exchange remains confident in its case after Judge Amy Berman Jackson dismissed several “key claims” in the lawsuit. Related Reading: Germany Shakes Up Crypto […]
A US court dismissed the SEC's claim to classify BNB secondary sales as securities. Experts view this decision as a setback for the SEC.
The post SEC loses bid to classify BNB secondary sales as securities appeared first on Crypto Briefing.
The ongoing legal battle between Nigerian authorities and the crypto exchange Binance has significantly affected the country’s blockchain industry. The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) recently expressed its concerns about the negative impact of the current dispute and urged for a “balanced resolution.” Related Reading: DeFi Protocol Alex Lab $4 Million Hack Linked […]
BNB price started a recovery wave from the $550 support. The price is now consolidating and facing hurdles near the $585 and $592 levels. BNB price started a decent upward move from the $550 support zone. The price is now trading above $575 and the 100-hourly simple moving average. There is a short-term rising channel forming with support at $578 on the hourly chart of the BNB/USD pair (data source from Binance). The pair could gain bullish momentum if there is a close above the $585 resistance. BNB Price Aims Higher In the past few days, BNB price saw a steady decline from the $592 resistance, like Ethereum and Bitcoin. There was a drop below the $575 support and $560. Finally, the bulls appeared near $550. A low was formed at $550.8 and the price recently started a recovery wave. There was a move above the $565 and $575 resistance levels. The price surpassed the 61.8% Fib retracement level of the downward move from the $593 swing high to the $550 low. There is also a short-term rising channel forming with support at $578 on the hourly chart of the BNB/USD pair. The price is now trading above $575 and the 100-hourly simple moving average. Immediate resistance is near the $583 level or the 76.4% Fib retracement level of the downward move from the $593 swing high to the $550 low. The next resistance sits near the $585 level. A clear move above the $585 zone could send the price higher. In the stated case, BNB price could test $592. A close above the $592 resistance might set the pace for a larger increase toward the $620 resistance. Any more gains might call for a test of the $632 level in the coming days. Another Decline? If BNB fails to clear the $585 resistance, it could start another decline. Initial support on the downside is near the $578 level and the channel’s trend line. The next major support is near the $572 level. The main support sits at $565. If there is a downside break below the $565 support, the price could drop toward the $550 support. Any more losses could initiate a larger decline toward the $532 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $572 and $565. Major Resistance Levels – $585 and $592.
Bitcoin has broken below the immediate support of $64,602, increasing the risk of a fall to the crucial $60,000 price level.
Bitcoin is facing intense selling pressure, but charts suggest strong support at $64,500 and again at $60,000.
Changpeng Zhao (CZ), the former CEO of Binance, a leading cryptocurrency exchange, is currently serving a four-month prison sentence for breaching anti-money laundering regulations. Despite his incarceration, CZ’s control over Binance Coin (BNB), the platform’s native token, remains robust. Related Reading: Memecoins Are ‘One Of The Most Powerful Narratives’ In The Crypto Market – CEO According […]
Bitcoin and several altcoins are getting sold into rallies, increasing the risk of a downside breakdown.
BNB price struggled above $720 and started a downside correction. The price is now moving lower and there is risk of more downsides below $600. BNB price started a fresh decline below the $650 support zone. The price is now trading below $650 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $650 on the hourly chart of the BNB/USD pair (data source from Binance). The pair could gain bearish momentum if there is a close below the $600 support. BNB Price Trims Gains After a major increase, BNB price struggled near the $720 resistance. As a result, there was a bearish reaction below the $680 support, like Ethereum and Bitcoin. The price dipped below the $650 support and the 100 simple moving average (4 hours). It traded as low as $613 and is currently consolidating losses below the 23.6% Fib retracement level of the downward move from the $724 swing high to the $613 low. The price is now trading below $650 and the 100-hourly simple moving average. Immediate resistance is near the $630 level. The next resistance sits near the $640 level. There is also a key bearish trend line forming with resistance at $650 on the hourly chart of the BNB/USD pair. A clear move above the $650 zone could send the price higher. In the stated case, BNB price could test $665. A close above the $665 resistance might set the pace for a larger increase toward the $672 resistance. Any more gains might call for a test of the $680 level in the coming days. More Losses? If BNB fails to clear the $640 resistance, it could continue to move down. Initial support on the downside is near the $615 level. The next major support is near the $605 level. The main support sits at $600. If there is a downside break below the $600 support, the price could drop toward the $580 support. Any more losses could initiate a larger decline toward the $550 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level. Major Support Levels – $605 and $600. Major Resistance Levels – $630 and $650.
BNB price struggled above $720 and started a downside correction. The price is now moving lower and there is risk of more downsides below $600. BNB price started a fresh decline below the $650 support zone. The price is now trading below $650 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $650 on the hourly chart of the BNB/USD pair (data source from Binance). The pair could gain bearish momentum if there is a close below the $600 support. BNB Price Trims Gains After a major increase, BNB price struggled near the $720 resistance. As a result, there was a bearish reaction below the $680 support, like Ethereum and Bitcoin. The price dipped below the $650 support and the 100 simple moving average (4 hours). It traded as low as $613 and is currently consolidating losses below the 23.6% Fib retracement level of the downward move from the $724 swing high to the $613 low. The price is now trading below $650 and the 100-hourly simple moving average. Immediate resistance is near the $630 level. The next resistance sits near the $640 level. There is also a key bearish trend line forming with resistance at $650 on the hourly chart of the BNB/USD pair. A clear move above the $650 zone could send the price higher. In the stated case, BNB price could test $665. A close above the $665 resistance might set the pace for a larger increase toward the $672 resistance. Any more gains might call for a test of the $680 level in the coming days. More Losses? If BNB fails to clear the $640 resistance, it could continue to move down. Initial support on the downside is near the $615 level. The next major support is near the $605 level. The main support sits at $600. If there is a downside break below the $600 support, the price could drop toward the $580 support. Any more losses could initiate a larger decline toward the $550 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level. Major Support Levels – $605 and $600. Major Resistance Levels – $630 and $650.
Binance Coin (BNB), the native token of the world’s largest crypto exchange Binance, recently hit an all-time high of $725 on June 6th, the first week of exchange founder Chagpeng Zhao’s (CZ) four-month prison sentence in the US. According to a Bloomberg report, this price rally for the Binance Coin has made CZ the richest […]
Floki Inu (FLOKI), the dog-themed meme coin, has recently achieved a significant milestone by reaching an all-time high (ATH) amidst Binance Coin’s (BNB) upward trajectory. With a 15% surge in the past 24 hours, FLOKI reached a record price of $0.0003491, solidifying its position as the largest meme coin on the BNB Chain. Floki Inu Receives Major Boost As DFW Labs Invests $12M This surge comes as Web3 investor and crypto market maker DFW Labs announced a substantial investment of $12 million in FLOKI tokens to support the Floki ecosystem. The purchase involved acquiring a portion of the tokens from the market and the remainder from the Floki treasury. Notably, DWF Labs purchased $10 million worth of FLOKI tokens in March, which also triggered a significant price surge of over 30%, propelling the token to a nine-month high then. The partnership between Floki and DWF Labs was initially established in May 2023 when DWF Labs purchased $5 million worth of FLOKI tokens. Since then, DWF Labs has been crucial in boosting FLOKI adoption. Related Reading: Shiba Inu Burn Rate Flatlines With 99% Crash, End Of The Road For SHIB? In addition, further developments are on the horizon for Floki, as they plan to release the mainnet version of their flagship utility product, the Valhalla metaverse game, later this year. Moreover, the team is set to launch several key utility products, including the Floki Trading Bot and the Floki Decentralized Domain Name and Website Service. These upcoming releases have garnered significant attention from investors, resulting in increased buying pressure and a rise in token holders. The protocol boasts a notable milestone, with FLOKI recently surpassing 417,400 holders on the BNB chain. The protocol’s development team declared that Floki remains “the dominant meme coin on the BNB chain,” boasting a substantially larger market capitalization than all other BNB chain memecoins combined. Price Correction Temporarily Impacts FLOKI’s Uptrend According to CoinGecko data, FLOKI’s market capitalization is currently at a substantial $3 billion, nearly doubling compared to its market cap in May, which was $1.7 billion. Furthermore, FLOKI’s daily trading volume has surged by 164% in the past 24 hours, amounting to $1.2 billion, highlighting the token’s market attention from investors and its prevailing bullish sentiment. Despite these positive developments, Floki Inu has experienced a price correction of approximately 8% within a matter of hours. It is currently trading at $0.0003164. The next nearest support level for the token is $0.0002985. Related Reading: Crypto Expert Reveals Top 3 Trades To Take Now While there is a clear path for further growth, Floki Inu faces the challenge of investor decision-making on profit-taking and selling, which could potentially impact the token’s short-term uptrend. In such a scenario, a consolidation at current levels would be crucial in maintaining gains and facilitating the resumption of the uptrend once the buying trend resumes. Meanwhile, BNB is trading slightly below its ATH, experiencing a 1.5% decline in the last hour and currently valued at $699. Featured image from DALL-E, chart from TradingView.com
Trading volumes of ecosystem tokens more than doubled in the past 24 hours, with meme coin FLOKI leading gains among larger tokens.
Bitcoin and select altcoins are attempting to break above their respective resistance levels, signaling aggressive buying by the bulls.
SOL price rallied 5% today, but on-chain data raises doubts about whether Solana can overcome the barrier at $190.
ETH price hit $3,100, backed by a favorable court ruling and increased network activity.
Identifying trends in DeFi requires analyzing activity on decentralized exchanges (DEXs). These DEXs are the cornerstone of the DeFi market, at the center of DeFi activity, and the main driving force of the sector. To understand what drives DeFi, we need to look at the volume, trader activity, and variety of trading pairs on DEXs. […]
The post DeFi landscape shifts as Solana dethrones Ethereum in trading volume appeared first on CryptoSlate.
BNB price is attempting a fresh increase from the $540 zone. The price must settle above the $600 resistance to gain bullish momentum. BNB price started a fresh increase after it cleared the $565 resistance zone. The price is now trading above $580 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $592 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could gain bullish momentum if it clears the $602-$610 resistance zone. BNB Price Holds Support After forming a base above the $535 level, BNB price started a fresh increase. There was a steady increase above the $565 and $575 resistance levels, like Ethereum and Bitcoin. The bulls pushed the price above the $580 pivot level and the 61.8% Fib retracement level of the downward move from the $618 swing high to the $5382 low. It is now trading above $590 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $592 on the 4-hour chart of the BNB/USD pair. The pair seems to be consolidating near the 76.4% Fib retracement level of the downward move from the $618 swing high to the $5382 low. Immediate resistance is near the $602 level. The next resistance sits near the $618 level. A clear move above the $618 zone could send the price further higher. Source: BNBUSD on TradingView.com In the stated case, BNB price could test $635. A close above the $635 resistance might set the pace for a larger increase toward the $650 resistance. Any more gains might call for a test of the $680 level in the coming days. Are Dips Supported? If BNB fails to clear the $602 resistance, it could start a downside correction. Initial support on the downside is near the $592 level and the trend line. The next major support is near the $578 level. The main support sits at $555. If there is a downside break below the $555 support, the price could drop toward the $530 support. Any more losses could initiate a larger decline toward the $520 level. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is gaining pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $592, $578, and $555. Major Resistance Levels – $602, $618, and $650.