Vandell Aljarrah, co-founder of the Black Swan Capitalist, sat down for a conversation with Edo Farina, CEO Alpha Lions Academy. Vandell was asked about his expectations for the SEC lawsuit and the brief spike in XRP’s price that followed the recent court decision. He said that after a 20% surge, the price quickly retraced, returning …
XRP price failed to climb above the $0.5850 resistance zone. The price dipped and now shows a few bearish signs below the $0.5750 level. XRP price is struggling to climb above the $0.5850 level. The price is now trading below $0.5750 and the 100-hourly Simple Moving Average. There was a break below a key rising channel with support at $0.5745 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $0.580 resistance zone. XRP Price Dips To Support XRP price remained stable near the $0.5650 level and attempted more gains. However, it failed to clear the $0.5850 resistance and started another decline like Bitcoin and Ethereum. There was a move below the $0.580 and $0.5750 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.5457 swing low to the $0.5835 high. Besides, there was a break below a key rising channel with support at $0.5745 on the hourly chart of the XRP/USD pair. The price is now trading below $0.5750 and the 100-hourly Simple Moving Average. It is holding the 50% Fib retracement level of the upward move from the $0.5457 swing low to the $0.5835 high. On the upside, the price is facing hurdles near the $0.5750 level. The first major resistance is near the $0.580 level. The next key resistance could be $0.5850. A clear move above the $0.5850 resistance might send the price toward the $0.60 resistance. The next major resistance is near the $0.6150 level. Any more gains might send the price toward the $0.6250 resistance or even $0.6320 in the near term. More Losses? If XRP fails to clear the $0.580 resistance zone, it could start another decline. Initial support on the downside is near the $0.5650 level. The next major support is at $0.560. If there is a downside break and a close below the $0.5600 level, the price might continue to decline toward the $0.550 support in the near term. The next major support sits at $0.5350. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5600 and $0.5550. Major Resistance Levels – $0.5800 and $0.5850.
On-chain data suggests the Bitcoin price found its bottom following the recent crash around this important investor cost basis level. Bitcoin Found Its Bottom Near Active Investor’s Cost Basis According to the latest weekly report from Glassnode, Bitcoin formed its recent bottom near the cost basis of the “active investors.” To understand what this level represents, two other indicators need to be looked at first: the Realized Price and the Liveliness. Related Reading: Bitcoin ETFs Are “Important, But Not The Drivers,” On-Chain Analyst Argues The Realized Price refers to the cost basis or acquisition price of the average investor on the BTC network. The metric determines this by going through the transaction history of each token in circulation to find what price it was last moved at. It then works with the assumption that this previous transfer was the last time that the coin changed hands and so, takes the price at its time to be its current cost basis. Finally, it averages this value out for the entire supply, producing a price that’s often considered to be BTC’s “fair value.” The other indicator, the Liveliness, basically keeps track of the spending/HODLing behavior of the investors. This metric makes use of the concept of “coin days” to calculate its value. A coin day is a quantity that 1 BTC is said to accumulate after staying dormant on the blockchain for 1 day. Thus, when HODLing occurs on the network, new coin days are “created” each day, while when spending occurs, coin days that had been accumulated earlier are “destroyed.” The Liveliness measures the ratio between the cumulative sum of coin days destroyed and the cumulative sum of coin days created over the cryptocurrency’s history. As such, whenever the market is showing a HODLing dominant behavior, the metric’s value tends towards the zero mark, as a low amount of coin days are seeing destruction. Similarly, it leans towards 1 when distribution is high. Now, the actual indicator of focus in the current discussion is the “Realized Price-to-Liveliness Ratio,” also known as the Active Investor’s Cost Basis. This indicator adds a weightage factor to Bitcoin’s Realized price (that is, its fair value) using the Liveliness. Related Reading: Bitcoin Whales Participate In $588 Million Selloff: Is There More To Come? With this modification, BTC’s fair value is estimated higher when HODLing is dominant and lower when distribution is happening. The below chart shows the trend in the Bitcoin Realized Price-to-Liveliness Ratio over the past decade: As displayed in the above graph, the Bitcoin Realized Price-to-Liveliness Ratio is currently at a value of $51,300. In The recent price crash, BTC ended up finding a bottom not too far from this mark. “The Active Investor’s Cost-Basis can be considered as a key threshold delineating bullish and bearish investor sentiment,” notes Glassnode. “Since the market managed to find support near this level speaks to a degree of underlying strength, suggesting investors are generally still anticipating positive market momentum in the short-to-medium-term.” BTC Price Bitcoin has seen a jump of almost 4% during the last 24 hours, which has taken its price above $61,000. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
Layer-2 chains Base and Scroll have contributed to Aave’s recent borrower and depositor growth.
Layer-2 chains Base and Scroll have contributed to Aave’s recent borrower and depositor growth.
Bipartisan crypto legislation could reshape U.S. regulatory landscape, balancing innovation with consumer protection and national security.
The post US crypto bill could ‘happen’ with Harris’ support — Senator Schumer appeared first on Crypto Briefing.
Ethereum price struggled to clear the $2,750 resistance. ETH is now consolidating near $2,635 and remains at risk of more downsides. Ethereum started a fresh decline from the $2,750 resistance. The price is trading below $2,700 and the 100-hourly Simple Moving Average. There was a break below a key contracting triangle with support at $2,695 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it drops below the $2,635 support zone. Ethereum Price Slides Again Ethereum price started a decent increase from the $2,650 support zone. ETH outperformed Bitcoin and surpassed the $2,720 resistance zone. However, the bears were active near the $2,750 zone. The recent swing high was formed at $2,763 before the price corrected gains. There was a move below the $2,720 and $2,700 levels. Besides, there was a break below a key contracting triangle with support at $2,695 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,700 and the 100-hourly Simple Moving Average. A low is formed near $2,635 and the price is now consolidating. If there is another increase, the price might face hurdles near the $2,700 level. It is close to the 50% Fib retracement level of the recent decline from the $2,763 swing high to the $2,635 low. The first major resistance is near the $2,735 level or the 76.4% Fib retracement level of the recent decline from the $2,763 swing high to the $2,635 low. A close above the $2,735 level might send Ether toward the $2,765 resistance. The next key resistance is near $2,800. An upside break above the $2,800 resistance might send the price higher toward the $2,880 resistance zone in the near term. More Losses In ETH? If Ethereum fails to clear the $2,700 resistance, it could continue to move down. Initial support on the downside is near $2,635. The first major support sits near the $2,600 zone. A clear move below the $2,600 support might push the price toward $2,550. Any more losses might send the price toward the $2,520 support level in the near term. The next key support sits at $2,440. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,635 Major Resistance Level – $2,700
Australia’s competition watchdog cited preliminary research that found more than half of the crypto ads on the platform breach Meta’s policies or involve scams.
Australia’s competition watchdog cited preliminary research that found more than half of the crypto ads on the platform breach Meta’s policies or involve scams.
Solana (SOL), one of the largest digital assets in the market by market capitalization, has been in a period of price consolidation, oscillating between the $140 and $150 price range. This period follows a significant drop that saw SOL plummet to $109 on August 5th, with a modest recovery since then. However, despite its resurgence, Solana has struggled to break above upper resistance levels, reflecting a pattern reminiscent of Bitcoin’s (BTC) price movements for the past week. Solana Price Forecast According to crypto analyst “XForce,” Solana is currently positioned in a way that is strikingly similar to Bitcoin’s price action, just on a different scale. Related Reading: Will The Bitcoin Price Return To $20,000? Crypto Analyst Provides Answers The analyst contends that Solana is likely in the midst of a “wave 4” consolidation phase and is poised to enter a “wave 5” that could potentially double its current all-time high of $259, reached during the November 2021 bull run. This would imply a price target of approximately $400-$500 for Solana at the top of this market cycle, which could represent a price increase of nearly 250% from current market levels. However, the analyst also warns that in the near term, Solana could experience a deeper correction, with targets potentially as low as a 22% drop to $110 or even a sharper decline to the $75 mark. This scenario is based on the analyst’s belief that Solana could enter in a “wave Y” correction. Bearish Pattern Emerge, Threatening $100 Support Adding to the technical analysis, Ali Martinez has recently spotted a potential head and shoulders pattern forming on Solana’s hourly chart. This pattern suggests that a breach below the $141 level could trigger a correction, sending Solana down to the $122 range. This level is of particular importance for Solana bulls, as a breach below $141 could potentially jeopardize the token’s year-to-date macro uptrend, which has been in place since February. If the $122 level is lost, the theory put forth by XForce, the first analyst, could come into play, with Solana potentially retesting the crucial $100 support floor. This would be a significant test for the token’s long-term prospects, as a breach of this level could have broader implications for Solana’s overall market sentiment and investor confidence. Related Reading: Ethereum Price To Hit New All-Time High If This Happens: Crypto Analyst Currently, SOL is trading at $144, down over 2% in the 24-hour time frame, mirroring the broader market’s price action. However, in the case of further catalysts for the token’s price action, there are also crucial levels to overcome if the bulls want to get past the $200 mark. On the SOL/USDT daily chart, the first hurdle that led to the current consolidation range for SOL was at $153, as the first barrier that prevented a test of the next obstacle at $163. Gaining these two levels in the short term will be key to anticipate a move towards $183 before a leg up to the $200 mark. Featured image from DALL-E, chart from TradingView.com
A big change is brewing up in the world of Bitcoin. Over time, US-based ETFs will become the largest holders of Bitcoin, surpassing even Satoshi Nakamoto, the mysterious founder of the cryptocurrency. This development certainly also captures how institutional interest in the cryptocurrency space is growing. Related Reading: Binance Exec In Critical Condition In Nigerian […]
Bitcoin price failed to clear the $61,500 resistance zone. BTC is now retesting the $58,000 support and might attempt a fresh increase. Bitcoin started a fresh decline from the $61,500 resistance zone. The price is trading below $60,000 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support at $59,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might attempt a fresh increase if it stays above the $58,000 zone. Bitcoin Price Holds Support Bitcoin price failed to settle above the $61,500 resistance zone. BTC formed a short-term top and started a fresh decline below the $60,500 level. There was a move below the $60,000 and $59,000 levels. Besides, there was a break below a key bullish trend line with support at $59,250 on the hourly chart of the BTC/USD pair. The pair retested the $58,000 support zone. A low is formed at $58,061 and the price is now consolidating losses. Bitcoin price is now trading below $60,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $58,800 level. It is close to the 23.6% Fib retracement level of the downward move from the $61,438 swing high to the $58,061 low. The first key resistance is near the $59,500 level or the 50% Fib retracement level of the downward move from the $61,438 swing high to the $58,061 low A clear move above the $59,500 resistance might send the price further higher in the coming sessions. The next key resistance could be $60,000. The next major hurdle sits at $61,500. A close above the $61,500 resistance might spark more upsides. In the stated case, the price could rise and test the $63,500 resistance. More Losses In BTC? If Bitcoin fails to rise above the $58,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $58,000 level. The first major support is $57,650. The next support is now near the $56,500 zone. Any more losses might send the price toward the $55,500 support zone or even $55,000 in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $58,000, followed by $57,650. Major Resistance Levels – $58,800, and $59,500.
Marathon’s latest 4,144 Bitcoin buy comes after boss Fred Thiel said the company was adopting a “hodl strategy” for the cryptocurrency in July.
Marathon’s latest 4,144 Bitcoin buy comes as boss Fred Thiel last month said it was adopting a “hodl strategy” for the cryptocurrency.
A crypto analyst has issued a bold price forecast for the XRP price, the native token of the XRP Ledger (XRPL). The analyst foresees a massive 42,000% breakout in XRP’s price, potentially pushing the cryptocurrency beyond the $250 mark. Analyst Foresees XRP Price Reaching $263 Javon Marks, a crypto analyst, took to X (formerly Twitter) on August 13 to discuss his analysis of XRP’s recent price movements and future outlook. The analyst boldly suggests that if XRP experiences a bullish breakout today, then the price of the cryptocurrency could reach $263, representing a 42,000% increase from its current value. Related Reading: Bitcoin Flashes Inverted Triangle, Analyst Peter Brandt Explains What This Means According to Marks chart analysis, XRP is nearing the converging point of a nearly seven year old consolidation pattern. The analyst disclosed that the development of this pattern has triggered the appearance of multiple bullish signals, indicating the strong potential for a significant breakout. Marks has grounded his optimistic forecast for XRP on key historical strategies and patterns. The analyst strongly believes that XRP could reach its full potential by experiencing a massive price increase above the $200 mark. This bullish projection is based on the assumption that XRP replicates or follows through the favorable conditions and trends from past successful periods. Given that XRP’s price is presently trading below $1, the analyst’s price forecast may appear as overly optimistic or ambitious. However, since Ripple’s legal win against the United States Securities and Exchange Commission (SEC), many analysts have become incredibly bullish about XRP’s price outlook. A few analysts have suggested that the regulatory clarity from the concluded Ripple and SEC case could trigger bullish momentum for XRP. At the time of writing, XRP is trading at $0.57, reflecting a 12.14% increase over the past seven days, according to CoinMarketCap. XRP Eyes Fresh Breakout To $600 In a recent X post, crypto analyst and XRP supporter Brett Hill declared that XRP’s long-awaited breakout from the 2018 to 2024 triangle pattern was imminent. Hill predicts that if XRP successfully breaks through this unique triangle pattern, it could trigger a dramatic rise to $600. Sharing a price chart of XRP’s movement from 2014 to 2024, the analyst compared XRP’s projected breakout to $600 with a past event between 2013 and 2017, where the cryptocurrency witnessed a massive price surge. Based on this historical trend, Hill suggests that XRP could witness a similar price movement, potentially pushing its price to new all-time highs. Related Reading: Ethereum Price Ready For 75% Breakout To $4,723, Here’s Why Providing a more conservative price forecast for XRP, a crypto analyst identified as ‘Dark Defender’ has outlined several price targets for XRP. The analyst revealed that a Bullish Hammer Candle observed on XRP’s weekly chart was now forming on a larger monthly scale, indicating a potential for a strong bullish trend. Based on this candle pattern, Dark Defender forecasts that XRP could achieve new price targets of around $1, $1.4, and $1.88 if current bullish trends continue. Featured image created with Dall.E, chart from Tradingview.com
Chuck Schumer, the majority leader of the United States Senate, says he will make it his goal to introduce pro-crypto legislation by the end of this year if Kamala Harris is elected president.
Speaking at the Crypto4Harris event, the Senate majority leader said he will make it his goal to introduce pro-crypto legislation by the end of 2024 if Kamala Harris is elected president.
The live Crypto4Harris town hall brought together a number of Democrats hoping to shift the political narrative surrounding crypto.
In a recent report, crypto research firm Kaiko drew the crypto community’s attention to the Bitcoin liquidity crisis. The firm added that this issue has been amplified since the launch of the US Spot Bitcoin ETFs. BTC’s Liquidity Fragmentation Kaiko analysts noted in the report that liquidity fragmentation continues to persist for the flagship crypto, […]
Critics who have a problem with volatile gas prices — on Ethereum or elsewhere — have the wrong vision for the future of crypto.
Critics who have a problem with volatile gas prices — on Ethereum or elsewhere — have the wrong vision for the future of crypto.
U.S. crypto legislation can happen this year, Senate Majority Leader Chuck Schumer (D-N,Y,) said Wednesday at the first major event in which crypto insiders have come out for Vice President Kamala Harris as their favored presidential contender.
The market’s bullishness has now spread to altcoins with Bitcoin SV capturing some of its momentum. According to CoinGecko, the token is up over 10% since last week, becoming one of the top gainers within this market environment. Related Reading: HODLing Resurgence? 374,000 Bitcoin Transfer Ignites Crypto Recovery With private equity enjoying gains as well, the bullishness has leaked to the crypto market, turning the early August wipe into well-deserved upticks. Bitcoin SV On Good Price Range For A Breakout As of writing, the token sits right in the middle of the $40-$46 price range which will be essential for the coming breakout. For the bulls, maintaining the current momentum of the token is vital in the long term. The market’s continuous bullishness should be enough to prop up the bulls if exhaustion takes over. However, the relative strength index (RSI) of the token reveals that the bulls and the bears are in a tight lock, indicating that BSV’s momentum has slightly gone down. But with the general market in support of the bulls in the short term, the token has a shot at taking $62 in the long term if the momentum is consistent. But this also depends on the general outlook of the market. As G7 economies experience slightly better economic conditions, the market will continue to be positive on the coming release of several economic indicators in the coming weeks. Market Hunkers Down As CPI Data Release Nears As of writing, traders in traditional finance are still split between a 25 and 50 base point cut in the coming weeks. However, 51% of traders are still expecting a 50 bps cut once the consumer price data is released. The CPI is one of the most crucial economic indicators that investors and traders are monitoring monthly. Last July, the CPI data showed a slight dip in CPI, indicating a slight dip in the purchasing power of the US dollar. With the release of the CPI data nearing, the general market enters a lockdown phase, gaining slight upticks in the short term to stabilize the price in a manageable price range. The S&P 500 and the Dow Jones are both up over a percent as the market gradually slows its momentum. Related Reading: Helium (HNT) Surges 48% — Here’s What’s Fueling The Rally If the CPI data shows that inflation is dropping, the market’s assumption of a rate cut will eventually come true. A drop in interest rate will not only be beneficial for TradFi but also for the crypto market as the latter’s movement hinges on the movement of private equity. However, another dip in CPI might push the US Federal Reserve to maintain its interest rates which is currently 5.5% after the 8th Federal Open Market Committee last month. This scenario will see large outflows on both stocks and crypto, hurting long-term and short-term gains. Featured image from Host Merchant Services, chart from TradingView
Singapore, Singapore, 15th August 2024, GamingWire
Sam Bousfield explains the complicated road to launching a flying car into production as it moves ahead with its Switchblade vehicle.
Bitcoin is finding it difficult to rise above the overhead moving averages, indicating that the bears are trying to flip the level into resistance.
Bitcoin is finding it difficult to rise above the overhead moving averages, indicating that the bears are trying to flip the level into resistance.
Charles Hoskinson, the founder of Cardano, has officially denied rumors suggesting that Elon Musk’s recent interview with former President Donald Trump took place at his ranch in Wyoming. The crypto community had been abuzz with conjecture following Musk’s hints about the location of the high-profile interview. On Monday, Elon Musk, CEO of Tesla and CTO […]
The project claimed it was allowing users 72 hours to sign up to receive their ETH back, but two months later, the funds have not moved.
The project claimed it was allowing users 72 hours to sign up to receive their ETH back, but two months later, the funds have not moved.