Shiba Inu (SHIB) has been a subject of great interest in the crypto community, particularly in its performance in October. Over time, SHIB has grappled with a critical psychological barrier at the $0.00008 price level. This resistance has proven quite formidable, repeatedly halting its attempts to surpass it.
SHIB Price Poised For Massive Rally in October?
As October nears, the market may open its doors to more bull rallies. The data provided by the CryptoRank transpires this. Experts say historical data never lies, and deep down, there is an exciting trend for Shiba Inu (SHIB) that worked for the coin in the past. Previous parameters have seen notable price movements for SHIB and the broader crypto market in October. In October 2021, SHIB surged an astonishing 822%, reaching an all-time high of $0.00008845.
Even in October 2022, it gained 10.4% despite a slight dip the previous month. For those speculating on Shiba Inu’s potential price pump, it’s worth noting that if the cryptocurrency follows its average October increase of 422% from its current price of $0.00000735, it could reach a price point of $0.00003101. Since the coin had failed multiple attempts to break out of the consolidated range, the breakout happened for a very short period, following which the bears pulled back again, resulting in the coin trading sideways.
However, it’s crucial to remember that past performance doesn’t guarantee future results, especially in the unpredictable crypto world. So, while these projections are intriguing, it’s wise to be cautious and not rely solely on them for investment decisions. Always be mindful of potential risks.
So, what developments are Pumping this Huge Rally?
Notably, a long-dormant Shiba Inu ($SHIB) whale recently became active after a year. This came to light when Shiba Inu ($SHIB) expressed plans to renounce the $BONE smart contract. Renouncing $BONE is essential for potential listing on major exchanges, and the community is urging the Shiba Inu team to take this step.
Another significant event is that HSBC added it to its payment system with XRP. On-chain Shiba Inu activity is also raising investor interest. After Shibaruim tethered Shiba’s adoption hype, ShibariumID’s domain name service will launch in late October. It will be interesting to see if this digital authentication system can cause a Shiba Inu token price boom or if it will be a nosedive fall.
Over the past two weeks, Shiba Inu has traded in a descending wedge between $0.000000712 and $0.00000742, suggesting extensive price activity.
The cryptocurrency world has recently been a roller-coaster ride, with Bitcoin ($BTC) and Solana ($SOL) taking center stage. Bitcoin, the pioneer crypto for beginners, has been making waves with its gains this year, while Solana, a promising blockchain ICO platform, is poised for a surge.
Amid these developments, a relatively new player, InQubeta ($QUBE), has entered the scene with the potential for a jaw-dropping 1,700% rally. Let’s delve into these exciting developments in the cryptocurrency space.
Can Bitcoin Reach $1,000,000 Soon?
Since its dip in value at the end of 2022, Bitcoin has seen a strong recovery. While still very much a volatile asset, this top ten cryptocurrency has performed well this year, leading to speculations among industry experts and investors that It could reach the $1 million mark within the next few years.
Among those making notable predictions, Standard Chartered, a leading British multinational bank, has raised its Bitcoin ($BTC) price forecast to $100,000 to $120,000 by the end of 2024. This optimism is driven by expectations of increased profitability for Bitcoin miners. The bank also foresees Bitcoin hitting $50,000 by the end of the current year.
Samson Mow, a Chinese-Canadian Bitcoin entrepreneur and CEO of JAN3, suggests that Bitcoin could reach $1 million within five years. Mow’s rationale is rooted in the belief that as the world grapples with the possibility of hyperinflation, the U.S. dollar’s value will weaken, prompting people to seek refuge in Bitcoin and other top crypto coins. Hyperinflation refers to a dramatic and sustained increase in the prices of goods and services.
However, some of the best cryptocurrency experts caution against expecting such rapid gains. Marshall Beard stated, “Bitcoin to be a million dollars in 90 days, some crazy things are happening in the world, which we don’t want.” Such extreme predictions may take a decade or more to materialize.
While $BTC may not reach $1 million as soon as some enthusiasts hope, the overall sentiment remains positive. Bitcoin remains a hot topic for investors seeking the best crypto investment that can withstand economic downturns and provide long-term gains.
Is a Price Surge in the Horizon for Solana ($SOL)?
While Bitcoin remains in the spotlight, other cryptocurrencies like Solana ($SOL) are making waves in the market. Solana has been going through a consolidation phase, struggling to break free from the $20 mark. Although attempts have been made to increase the altcoin price, $SOL has faced resistance and slipped back.
$SOL’s price prediction revolves around its consolidation phase, which aims to sustain above the 20-day exponential moving average (EMA) and break through the upper trendline. Buyers must accumulate faster to provide the necessary momentum for this to happen. Solana has been trading within a price range of $17.38 to $20.50, emphasizing the consolidation.
Despite short-term fluctuations, Solana has shown resilience and progress over time. It gained around 3.29% over the past week and a significant 19.41% year to date, underlining its recovery in 2023.
Technical indicators, like the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI), suggest a positive trend for $SOL. RSI, at 47, is moving towards neutrality, while the MACD line is above the signal line following a positive crossover. These indicators indicate the potential for upward momentum.
Investors interested in Solana should monitor $SOL’s ability to sustain above the consolidation phase’s upper threshold, which may lead to a breakout and further price appreciation.
1,700% Rally Anticipated for InQubeta ($QUBE)
InQubeta ($QUBE) is a revolutionary cryptocurrency platform garnering significant attention in the venture capital sector. Considered by many industry insiders to be one of the best DeFi projects this year, it aims to transform the cryptocurrency market and elevate the future of artificial intelligence (AI) to new heights.
How does it achieve this? By integrating the equity of AI startups into fractionalized NFTs, InQubeta is breaking down the barriers posed by the high capital requirements typically associated with investing in AI companies. This groundbreaking approach makes it accessible for novice cryptocurrency investors to participate in the thriving AI industry.
The early signs of InQubeta’s success are already apparent. Since news of its crypto ICO debut broke, $QUBE has experienced a remarkable sale of over 360 million tokens during the presale, generating more than $3 million in revenue. This strong start has convinced many investors that InQubeta ($QUBE) is one of the top altcoins to watch.
$QUBE has already seen an impressive 90% rally from its initial value of $0.007. Now in the fourth stage of the crypto ICO, $QUBE is priced at $0.0133 and is expected to climb to $0.0280 when the presale concludes. With InQubeta’s upcoming presale rally predicted to yield an impressive 110% gain for early investors, it’s clear why this project is gaining so much attention.
Even more exhilarating is that InQubeta ($QUBE) continues its relentless progress. As the platform gears up for its launch, it plans to list $QUBE on tier-1 crypto exchanges, which has garnered significant attention from its vibrant Twitter community. This development has sparked high expectations of exponential price growth, with optimistic observers speculating that $QUBE may embark on a remarkable 100x rally shortly.
Bitcoin and Solana are two of the most popular crypto assets in the market today, and both can experience a price surge with the right catalysts. As investors await these developments, InQubeta ($QUBE) is solidifying its position as the best cryptocurrency to invest in today, with its upcoming listing and the potential for widespread platform adoption setting the stage for it to compete with the said crypto giants on the market. As the crypto landscape continues evolving, InQubeta ($QUBE) is a shining example of innovation and opportunity in digital assets.
Bitcoin (BTC) could be on the cusp of a significant price surge if the US government experiences a shutdown beginning on October 1, 2023. This prediction is based on historical precedents where Bitcoin experienced a rally during times of financial uncertainty.
While Bitcoin ages are linked directly to policies and decisions of the Federal Reserve, US government shutdowns and banking crises have always benefitted the king of crypto. Hence, crypto experts project that Bitcoin traders may benefit psychologically if prices break $30,000, as fear, uncertainty, and doubt (FUD) may catch up with the US closure.
Let’s see where the Bitcoin tide is heading.
Flashback to Shutdowns?
Previous government shutdowns have negatively impacted decision-making for cryptocurrency-related businesses. For example, an ambitious proposal for a bitcoin exchange-traded fund may get shelved, with insiders pointing to the shutdown as the cause.
Crypto Reaction Remains Bullish for Bitcoin?
Earlier in 2023, Bitcoin saw a boost in its price due to the regional banking crisis triggered by bank runs at influential institutions like the Silicon Valley Bank. Similarly, concerns over a potential US government shutdown have led to upward movement in BTC’s price. Meanwhile, Bloomberg experts suggest this could be catastrophic for the US banking sector.
Stephane Ouellette, co-founder of FRNT Financial, noted that Bitcoin’s rally could serve as a hedge against potential banking turmoil. Notably, this sentiment aligns with recent comments from Martin Gruenberg, Chair of the US Federal Deposit Insurance Corporation (FDIC), who highlighted significant risks to the banking industry due to inflation and high interest rates.
James Butterfill, head of research at a crypto asset manager, echoed this sentiment, drawing parallels to a previous debt ceiling stalemate that contributed to a surge in Bitcoin prices.
“This scenario resembles the debt ceiling stalemate experienced earlier this year, which ended up bolstering Bitcoin prices.”
Not All Will Be Good?
While a government shutdown might trigger a Bitcoin rally, it could also lead to liquidity challenges for crypto businesses. Additionally, the US Securities and Exchange Commission (SEC) may cut down its staffing at a crucial time when considering the approval of Ethereum futures ETFs. There’s speculation that the Valkyrie Bitcoin and Ether ETFs launch might be expedited due to the SEC’s contingency plans in anticipation of a potential shutdown.
Can Bitcoin Hit $30,000 by End of 2023?
Bitcoin is under a bear trap. Therefore, traders and experts decide whether it will recoup $30,000 before the year ends. Since Bitcoin is susceptible to interest rate swings, macroeconomic conditions matter. Following the Federal Reserve’s aggressive tightening program to curb record-high inflation, rates remain high. Next comes the US government shutdown, which may create FUD with significant selling pressure in the market. It will be interesting to see if BTC can hit a new ATH in this changing dynamic.
In a recent Twitter thread, Chill|TheResponsibleDΞGΞN (@ChillTRD) has presented a compelling case for the impending arrival of Bitcoin’s most substantial bull market. At the heart of his analysis are two critical factors poised to reshape the cryptocurrency landscape 2023: the Debt Crisis and Rising Interest Rates.
US Debt Reaches All-Time High – A Cause for Concern
During the tumultuous Global Financial Crisis 2008, central banks worldwide took a momentous step by reducing interest rates to zero. This move allowed individuals and organizations to manage their debts more affordably. However, it effectively shifted the burden of unmanageable debt onto the Federal Reserve’s balance sheet, where it remained rather than disappearing. This action played a pivotal role in rescuing the global economy.
Due to this policy, governments and corporations gained the opportunity to refinance their obligations, primarily within a 3-5-year timeframe. This, in turn, gave rise to a recurring economic cycle spanning 3.5 to 5 years.
When the interest on this debt comes due, it often leads to an economic slowdown, compelling central banks to lower interest rates—an almost inevitable pattern.
More recently, the world witnessed an unprecedented monetary printing spree by the Federal Reserve during the COVID pandemic. This resulted in trillions of dollars in interest payments now due in the fourth quarter of this year.
Failure to meet these payments could potentially trigger an economic disaster, leaving policymakers with no alternative but to print more money and devalue the currency—a drastic move that could send the crypto market soaring to new heights.
Fed’s Urgent Need for New Debt Issuance Spells Historically Low-interest Rates
With current payments deemed unaffordable, massive rate cuts loom on the horizon. This impending development carries far-reaching implications for the cryptocurrency market.
If you were amazed by the crypto market’s performance in 2021, prepare for what’s on the horizon. The convergence of these unstoppable forces—rate cuts and USD devaluation—is poised to usher in the most significant crypto bull market ever.
These forces are beyond our control, and the prudent choice is to prepare for the opportunities they will bring. Now is the time to strategically position yourself to maximize your returns.
Dogecoin (DOGE) has undeniably experienced significant growth since the end of the 2021 crypto bull rally, despite enduring a 19-month bear market.
According to on-chain data from Tokenview, the Dogecoin network boasts approximately 5.8 million holders who have facilitated over 171 million transactions. It’s worth noting that Dogecoin maintains a total hash rate of around 869 TH/s and a mining difficulty of 12.98 million, which provides a high level of security against a 51 percent attack.
Why Dogecoin Price is Well-Positioned for More Growth?
One of the primary reasons why Dogecoin is well-positioned for further growth is its strong ecosystem, buoyed by unwavering support from tech billionaire Elon Musk. Musk prominently displays his affiliation with Dogecoin through his X status and has issued numerous tweets expressing his support for this meme coin. Additionally, Musk has mentioned that he purchased some Dogecoin as a long-term investment for his son.
As a result, Dogecoin is well-prepared to surpass its all-time high (ATH) during the next crypto bull rally. According to a crypto analyst using the pseudonym Stockmoney Lizard on the X platform, the forthcoming Bitcoin halving, which is just six months away, and the imminent integration of Dogecoin into the X platform for payments, are the missing bullish triggers.
DOGE price has consistently outperformed Bitcoin since its inception, and this momentum is expected to persist in the future, despite diminishing returns. Furthermore, Dogecoin’s annual inflation is projected to decrease by as much as 1.9 percent by the year 2050.
From a technical perspective, the Dogecoin price has been forming a symmetrical triangle, signaling a potential breakout towards a new all-time high (ATH).
Bitcoin (BTC) has been sitting around the $26,000 mark for more than a month following an 11% drop in the previous month.
Are there any similarities between Bitcoin’s current behavior and its past patterns?
Rekt Capital discussed the key phases of Bitcoin’s price movements, comparing the pre-halving years of 2019 and 2023. Analyst divided these phases into three distinct periods: the pre-halving period, post-halving resistance, and post-halving parabolic phase.
The analysis pointed out that Bitcoin currently appears to be trading within a defined range, with a high resistance level and a low support level. This range has similarities to the situation observed in 2019. However, Rekt Capital highlighted that Bitcoin tends not to revisit the range’s lower support level in the macro range, even if historical trends were to repeat.
Another key observation is the potential for a market crash during the pre-halving period, which could offer a buying opportunity for investors. Rekt Capital suggested that Bitcoin might experience a pullback into a higher low, with the specific level depending on when the crash occurs.
He said that we might be seeing a relief rally right now. If this rally reaches its highest point, Bitcoin could drop back to $26k and turn it into a resistance level. This is similar to what happened before when a relief rally was followed by Bitcoin dropping below $26k and then making it a resistance before continuing to drop.
Bitcoin’s current price of over $26,700 marks a positive shift from the long-standing support at $25,000 that has been holding since June. If Bitcoin successfully breaks through the $27,000 barrier, it will be a significant move.
The Federal Reserve’s decision this week will impact cryptocurrency prices. Most experts expect the Fed to keep interest rates as they are.
Maintaining the deep correction phase, the ALGO price remains under a strong bearish influence. Trading at a 98% drop from the all-time high of 3.77, Algorand struggles to find a reversal spot. If the downtrend continues, the crypto might shortly trade lower than the listing price.
Check out our ALGO Price Prediction Now to learn more about the Future of ALgorand.
With a strong resistance trendline in action, the ALGO price trend forms a descending triangle pattern. With the baseline close to $0.090, the bounce back triggers a positive cycle in the triangle.
By forming a morning star, the Algorand coin price jumps 6.11% and increases the breakout possibility. However, the daily candle shows higher price rejection with no intraday growth; the Algorand coin price trades at $0.0935.
Moreover, the ALGO price action forms a triple white soldier pattern in the daily chart to form a V-shaped reversal. However, the uptrend will soon face opposition from the overhead resistance trendline.
RSI indicator: With the bullish divergence clear as the day, the RSI line spikes higher and teases a bullish comeback.
MACD indicator: With the MACD and signal lines regaining the bullish alignment, the indicator redials into the bullish force.
Will ALGO Price Rise Above $0.10?
For ALGO to reach $0.10, the bulls must break through the resistance trendline and keep the rally going. If they can do that, the price could keep rising beyond $0.1089 and end 2023 on a high note.
Conversely, if the ALGO price is rejected at the resistance trendline, it could trigger a new downtrend. Traders can expect the ALGO price to find a new bottom at $0.081.
On August 17th, Litecoin (LTC) price broke the crucial support zone of $70 with a 13% intraday drop. The demand belt, present close to $70, was successful in bouncing the prices higher twice in 2023.
Moreover, the downtrend cracks the trend line supporting the pullback phase, reflecting the solid supply pressure.
With a negative 11% year-to-date return in 2023, LTC price loses all the 2023 gains and trades at $62.14. Making a short V-shaped reversal, the LTC price retests the broken trendline for the second time, bringing a 5.63% recovery.
Currently, the Litecoin price clings close to the crucial price action zone at $62. With the overall market recovery, the altcoin price can surface above the broken trendline, which may boost the price higher to the 50-day EMA at $71.
However, post-death cross (bearish crossover of 50 and 200-day EMA), the increased selling pressure warns of a sharp profit booking to put out the recovery.
Coming to the technical indicators, the MACD and RSI are presenting a recovery in motion. The RSI line resurfaces from the oversold zone to highlight a bullish divergence. Moreover, the MACD indicator takes a positive alignment with bullish histograms on the rise.
Will LTC Price Bounce To $70?
Despite the buyers making a comeback to challenge the $62 belt, the overall trend remains bearish. However, with the market leaders finding fresh relief, the altcoins are set to enter a recovery phase.
Therefore, with an impressive recovery, the LTC price can break above the trendline to reach $70.
On the flip side, a downtrend continuation will breach the $60 zone, to test bullish dominance at $50 demand belt.
The surge in Tradecurve Markets by 150% has emerged as a beacon of hope for ApeCoin (APE) and Compound (COMP) holders. This rally showcases the unpredictable yet fascinating nature of the crypto market, providing a breath of fresh air to investors. Despite being in its presale phase, Tradecurve Markets is already making considerable waves and setting high expectations for its full debut. Let’s learn more.
Tradecurve Markets (TCRV): A Beacon Amid the Crypto Whirlwind
Tradecurve Markets is on a mission to create a comprehensive trading hub that offers a unified platform for trading diverse assets like stocks, bonds, commodities, and digital currencies.
What truly sets Tradecurve Markets apart is its hassle-free onboarding. With just an email and a DeFi wallet, users can dive into the world of trading, sidestepping cumbersome KYC checks and maintaining their anonymity.
Beyond being a mere trading portal, Tradecurve Markets packs a plethora of cutting-edge tools. From the allure of copy trading and AI-driven trading insights to a Metaverse-centered trading academy, it’s a one-stop shop for enthusiast traders.
The heart of Tradecurve Markets beats with its native TCRV token. Holding TCRV isn’t just symbolic; it opens the door to perks like passive income rewards, slashed trading fees, and account upgrades. This incentivization has been a key factor driving the demand for TCRV in this presale phase.
Moreover, Security and longevity are top priorities for the Tradecurve Markets crew. They’ve cemented the platform’s future by ensuring liquidity for two solid years and fortifying it with smart contracts vetted rigorously by Cyber Scope.
The current fifth presale phase has already witnessed the sale of a staggering 40 million TCRV tokens, underscoring the market’s belief in Tradecurve transformative potential. Industry experts foresee the TCRV token’s leap from today’s price of $0.025 to a commanding $1.00 in 2023.
ApeCoin (APE): Chart Troubles and Tradecurve Markets (TCRV) Transitions
ApeCoin’s price surged to an impressive $28 just a year ago. However, Apecoin has dropped to just $1.41 since that zenith after bearish sentiment swept across the market.
In addition, Apecoin’s allure was bolstered by tantalizing offers to its holders, including exclusive merchandise and unique purchasing benefits within the ApeCoin DAO ecosystem. Its close ties to the Bored Ape Yacht Club (BAYC) NFT Collection added to its initial magnetism.
However, with the BAYC and ApeCoin DAO seeing no new interest, there was not enough buzz to sustain its appreciation. The drop below the descending channel on the daily chart has only added to the misery for ApeCoin holders.
It seems ApeCoin holders need a lifeline, and that’s where Tradecurve Markets steps up. By exchanging APE tokens for TCRV tokens in the current presale phase, previous ApeCoin backers can come out of the investment on the upside.
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Compound (COMP): From $50 to $80 and Down Again
Compound is a leader in the decentralized finance (DeFi) space. The Compound platform allows users to lend and borrow cryptocurrency from its protocol. However, With the goal of “compound” returns by leveraging the power of liquidity in crypto markets.
Though Compound recently saw a price bump, moving from roughly $50 to a peak of $80. Many believe this was merely a temporary magnetism because it broke out of a bullish structure on the chart. With its price back to $42, Compound holders are again worrying about their investment.
The consensus is clear: the DeFi sector is saturated with competition and for Compound to stand out. It needs to offer something uniquely compelling, a feat Tradecurve Markets seems poised to achieve. Until the Compound firmly breaches and consolidates above the $100 mark. And many are casting their eyes toward the promising prospects of Tradecurve Markets’ presale.
For more information about the Tradecurve Markets (TCRV) presale:
Buy presale: https://app.tradecurvemarkets.com/sign-up
In the past 24 hours, Bitcoin (BTC) has experienced significant price volatility, fluctuating between highs of $25,941 and nearly dropping below the $25,000 mark. This heightened volatility coincides with an eagerly anticipated legal ruling sought by FTX executives in the Delaware bankruptcy court.
Furthermore, this surge in Bitcoin’s price unpredictability precedes important economic data releases in the United States, including the Consumer Price Index (CPI) on Wednesday, as well as the Producer Price Index (PPI) and unemployment claims on Thursday.
Captain Faibik, a prominent crypto analyst on the X platform with over 65,000 followers, has weighed in on Bitcoin’s price action. Despite recent bearish sentiments, Captain Faibik believes that Bitcoin is poised for a relief rally of approximately 15.76 percent.
This analysis is rooted in technical indicators, notably the daily Relative Strength Index (RSI), which displays a bullish divergence within the context of a declining trend. Consequently, Captain Faibik has set a price target in the range of $28,900 to $29,300 for the near future.
However, it’s worth noting that Captain Faibik emphasizes the importance of Bitcoin reclaiming the $28,000 level as a support threshold to solidify a bullish outlook. Failure to do so could lead to a potential drop in Bitcoin’s price, especially if the 200-weekly Exponential Moving Average (EMA) fails to provide substantial support in the weeks ahead.
Following the remarkable gains in early 2023, the FLOKI price maintains a downside trajectory and continues to break demand levels. Continuously losing its Yeat-to-date gain, the Floki Inu is at another demand belt with a reversal potential.
Trading at a 95% discount from its all-time high of $0.0003437, FLOKI price action displays a sign of potential reversal.
Following the descending triangle breakdown, the FLOKI price transcends to even lower levels with a 23% drop. Finding a solid footing at $0.0000165, the breakdown rally settles into a sideways trend with lower high formations.
The demand belt forming at $0.0000165 has been notable a bounce-back spot for Floki last month. Moreover, the lower price rejection in FLOKI teases a reversal rally to challenge the broken level of $0.000020.
The daily RSI is still going up even though the FLOKI price is staying the same. Leading to a bullish divergence, it signals the meme coin price might go up soon. The MACD indicator is also showing a bullish crossover, which is another sign that the price might go up.
Considering the FLOKI price action starts a new bull cycle, the reversal rally can pump the meme coin by 30% to $0.000020.
On the flip side, a breakdown below $0.00001685 will plunge the FLOKI coin price to test the $0.000012 mark.
The cryptocurrency landscape experienced a roller-coaster ride this week. Initial optimism, sparked by regulatory developments, saw Bitcoin surge by 7%, only for it to backtrack, dragging other major tokens down with it.
A Short-lived Boost from a Regulatory Victory
Earlier in the week, the crypto market lit up with optimism as a U.S. federal appeals court directed the Securities and Exchange Commission to reconsider its refusal of a bid that could potentially convert the Grayscale Bitcoin Trust into an exchange-traded fund. The hopeful environment nudged Bitcoin’s price to nearly touch $28,143, a peak it hadn’t reached in close to a fortnight. Yet, the high didn’t hold.
The aftershock of Bitcoin’s fleeting rally was evident across the digital asset spectrum. Major tokens like XRP (XRP) and Solana (SOL) experienced a decline, registering over 5% dips from their Tuesday highs. At the time of writing, Bitcoin’s price stands at $27,170, dropping from its recent zenith of $27,900.
Analyzing Bitcoin’s Price Movements
Despite its recent spike, Bitcoin closed its daily trading above two essential moving averages. However, this hasn’t translated into solid intraday support. The uncertainty left market observers treading carefully.
Bitcoin’s sharp upswing on August 29 hinted at the likelihood of its price fluctuating between $24,800 and $31,000 in the coming days. Now, as the 20-day exponential moving average stabilizes around $27,160, and the relative strength index hovers just below the midpoint, it suggests a weakening selling pressure.
Bulls and Bears: The Ongoing Tussle
Market bulls will likely be on the defensive, guarding the breakout threshold of $26,833. Holding this ground will indicate their control, possibly pushing Bitcoin towards the 50-day simple moving average of $28,600, and potentially further towards $31,000.
On the flip side, if the bears manage to bring the price under $26,833, it might signify their dominant position, leveraging every rally attempt. In such a scenario, Bitcoin might once again approach the solid support base of $24,800.
Bitcoin might be getting a boost soon, and it’s all because of Binance, the big crypto platform. The expert Mike Alfred has a unique idea – if Binance stops letting people take out their money, Bitcoin could come back stronger.
Recent crypto regulations have caused Binance some problems, so the company is selling some of its Bitcoin to support Binance Coin (BNB) in order to help the coin’s price stability.
Just a few days ago, the price of BNB went below $205, which is not good because it lost more than 31.3% of its value this year. CZ, who’s in charge of Binance, is continuing the selling Bitcoin to help BNB, but it doesn’t seem to be working, as BNB’s value keeps dropping.
People who know about crypto are worried that Binance might end up in a mess similar to what happened with another company, FTX if BNB keeps going down. At the same time, Bitcoin’s price is also going down, and now it’s less than $26,100.
But here’s the interesting part – Mike Alfred thinks that if Binance shuts withdrawals for all customers, Bitcoin price could make a comeback and even see a God candle.
As Bitcoin (BTC) maintains its position under the $27,000 mark, both investors and day traders are eagerly awaiting a bullish surge that could drive Bitcoin’s momentum toward the $51,000 threshold.
The much-anticipated “god candle” is essentially a massive green candle that can propel Bitcoin toward new all-time highs with divine force.
A lot of traders think that $10,000 daily candles for Bitcoin are coming inevitably, but whether that fast movement comes to this bull cycle or the next is anyone’s guess.
Something is not Happening right for BNB.
BNB’s price went up a bit after it fell to $205. Right now, Binance Coin (BNB) costs $210, which is a bit higher. The whole value of all the BNB coins together is around $32.9 billion.
BNB went up a bit from $205, and that made Bitcoin’s price not fall as much. People who work with CZ and Binance aren’t really hiding what they’re doing. We can see it happening.”
Notable voices within the market arena have joined the chorus of skepticism surrounding Binance. One of the famous people in trading, Peter Brandt, said:
“I’ve been saying for years that CZ and @binance are up to no good, and $BNB isn’t worth a lot. Watch as things start to go downhill.”
Right now, everyone is waiting to see what Changpeng Zhao, the boss of Binance, will say about all this. But he hasn’t said anything yet, even though lots of people are talking about it.
In the ongoing correction, Dogecoin falls 25% in value in just 23 days, reaching the bottom support level of $0.60. Falling around 20% last week, the crashing markets fueled the negative cycle in Dogecoin, breaking multiple support levels.
However, the meme coin finds support and hatches a reversal plan to reboot a bull run.
Dogecoin Sellers Dominate The 1-Week Charts
In the 1-week chart, Dogecoin presents a sharp downtrend within a falling wedge since November 2022. Completing the recent negative cycle, the lower price rejection from the support trendline and buoyancy above $0.060 teases a sharp upcycle.
Moreover, the reversal rally can challenge the overhead resistance trendline moving along with the 50-week EMA. In the case of the confluence resistance breakout, Dogecoin is set to embark on a solid bullish path.
DOGE Buyers Hatch A Reversal Plan
Following the drastic crash last week, the DOGE prices manages to avoid a downfall at $0.060. Dogecoin forms a double bottom pattern in the 4H chart, leading to a sideways trend, teasing a potential reversal.
With a neckline at $0.065, the breakout rally can improve the meme coins sentiments and helps an overall sectorial betterment. The breakout rally will likely face the 50-day EMA before challenging the $0.070 mark.
On the flip side, a bearish continuation will lead to a $0.060 breakout dropping Dogecoin to lower levels. As per the Automatic Fibonacci trend retracement, the support levels after the $0.060 breakout are present at $0.056 and $0.053.
While there are different trends in the crypto landscape and innovations constantly popping up, memecoin has become an integral part of the space. As such, Pepe (PEPE) and Dogecoin (DOGE) are poised to become frontrunners in the impending memecoin craze, thanks to their stance. On the other hand, Everlodge (ELDG), an innovative concept on the blockchain, is set to surge by 50x for its disruption of the real estate industry. Continue reading to find out why these projects represent compelling investment opportunities.
Pepe (PEPE) Gathers Momentum in Preparation for the Impending Memecoin Rally
Pepe (PEPE), although recently launched in the second quarter of the year, has become a popular name within the memecoin ecosystem. This is thanks to its memetic appeal, strong community, and other unique offerings it offers investors. After establishing itself as one of the top meme-inspired cryptocurrencies, Pepe is poised to spearhead the next memecoin rally.
Although Pepe has no tangible utility, its allure of significant profit has captivated the interest of investors. Its other appeals include a no-tax policy, a deflationary token, and a redistributive system for long-term stakers.
Moreover, beyond its lighthearted nature, Pepe has demonstrated resilience amidst bearish pressure and sentiment. While currently ranked as the 68th largest token by market cap, Pepe has been gathering momentum for its next bullish leg.
Dogecoin (DOGE): The Pioneering Memecoin To Lead the Memecoin Surge
Dogecoin (DOGE) has become a household name in the world of memecoin. As the pioneering memecoin, nothing less is expected. Dogecoin’s narrative is a marvel, as none would have believed a “joke” token would rise to such relevance.
However, Dogecoin’s unique approach to blockchain and crypto, which centres around fun and lightheartedness, was met with enthusiasm. Today, it has transcended its meme origins to become a symbol of community-driven value.
Although Dogecoin has had its fair share of surges and retracements—just like with all cryptocurrencies—it’s nonetheless the poster boy for memes. As a result, Dogecoin is expected to be at the forefront of the next memecoin rally on the horizon.
Everlodge (ELDG): The Rising Star Poised for a Strong Rally
Everlodge (ELDG) is another investor favourite for its innovative concept and astounding growth potential. This unique project highlights everything savvy investors prioritize in projects, thanks to its unique blend of innovation and value proposition.
Everlodge aims to be the world’s first property marketplace that allows fractional vacation home ownership and other luxury homes. This idea was born due to the high cost of owning vacation properties. Imagine how surreal it is to partially own a multi-million-dollar vacation with as little as $100.
This innovative project sets out to solve the challenges facing investment in the real estate sector by introducing property-backed NFTs. It aims to disrupt the sector by creating a hybrid co-ownership model. This seamlessly enables its community to invest in real-world property via its innovative marketplace.
As a result of its disruptive concept and impending adoption, Everlodge is expected to soar. The ELDG presale is currently in its beta stage and priced at $0.01, expected to rise by 280% during this phase. Additionally, it will soar by 50x during its launch, making it a compelling investment.
Find out more about the Everlodge (ELDG) Presale
To a greater extent, it is true that there is always a bull rally in the crypto market. As Bitcoin and other top digital assets struggled to maintain a bullish uptrend in the past few weeks, an upcoming meme coin called HarryPotterObamaSonic10Inu has grabbed the attention of most altcoin traders. The meme coin has rallied approximately 343 percent in the past 30 days to trade around 18 cents on Wednesday.
But there is a Catch
According to the latest crypto market data, HarryPotterObamaSonic10Inu had a fully diluted valuation of about $188.2 million and a 24-hour trading volume of approximately $12.7 million. The notable increase in trading volume and network growth has, however, seen a significant uptick in social dominance, which is considered bearish, according to Santiment. Moreover, the crypto markets often tend to reverse every time the FOMO traders enter en masse a given trade.
Meanwhile, HarryPotterObamaSonic10Inu traders have been cautioned to proceed with extra measures after blockchain experts uncovered glaring shortcomings in the smart contract. Reportedly, the HarryPotterObamaSonic10Inu deployer has the ability to modify the smart contract to either disable selling, change fees, mint new tokens, or transfer tokens.
The EEC-20 meme coin has attracted significant trading due to its enhanced liquidity of up to $6 million on Uniswap, according to aggregate data provided by dexscreener. Notably, the HarryPotterObamaSonic10Inu token has risen to trade among the top meme coins, currently higher than Baby Doge Coin, and Dogelon Mars.
With a 62.92% gain in the last 60 days, the Shiba Inu coin price remains one of the most successful coins in the crypto industry. Currently, the Shiba Innu coin price trades slightly above the psychological mark of $0.000010 with an intraday gain of 3.52%.
With the recent surge after the Binance Collateral announcement, the Shiba Inu price trend finds fresh momentum. Moreover, with the meme coin rising above the 200-day EMA, the possibility of a golden crossover increases.
The Shiba Inu coin price fell drastically in a day due to the bankrupt crypto lender Voyager Digital moving almost $6 million in ETH and SHIB to Coinbase. Nonetheless, the Shiba Inu coin price regains bullish momentum and resurfaces above $0.000010.
With the Fibonacci retracement starting from the 2023 high, the recovery rally challenges the 50% Fibonacci level. However, the higher price rejection in the 12th August candle, leading to the evening star pattern, highlights extensive selling pressure.
With the increasing trading volume supporting the recovery, SHIB prices can continue the uptrend. Moreover, the Open Interest rising to $87.68M signals a high demand for Shiba Inu.
If the bullish trend manages to sustain about 50%, the breakout release is expected to reach 78.60%. Accounting for a 21% gain in market value, the Shiba Inu coin will present an excellent breakout entry opportunity.
On the flip side of the coin price fails to rise above the 50% Fibonacci level. The reversal release is expected to retest the bullish dominance and 200-day EMA currently at $0.0000093.
As we move into 2024, the upcoming halving event for Bitcoin takes center stage. Alongside this significant event, the next few months hold key factors influencing Bitcoin’s price trends: the establishment of clear regulatory guidelines, the growing adoption by large institutions, and the impending halving process.
As highlighted by Thinking Crypto’s new YouTube video, here are the five major use cases for Bitcoin and cryptocurrencies in the coming year that could impact their prices:
Mass Adoption of Cryptocurrencies: The question of where and by whom the first significant use case for cryptocurrencies will be established remains open. This early stage of mass adoption could lead to increased demand and price growth.
Crypto ETFs: Major financial players are creating crypto exchange-traded funds (ETFs), allowing cryptocurrencies to be bought on traditional stock markets. This could bring substantial buying power into the market, potentially driving prices up.
Amazon and Ripple: With Amazon’s CFO joining Ripple’s board of directors, there is speculation that Amazon might introduce its own cryptocurrency product. The exposure of Ripple (XRP) on Amazon’s official website indicates positive developments in the works.
Payment Systems and Adoption: Payment platforms like PayPal and others are integrating cryptocurrencies, making them more accessible to the masses. This increased adoption, especially by influential figures like Elon Musk, could lead to price surges.
Geopolitical Uncertainty: During global crises, Bitcoin has often been considered a safe haven. Recent geopolitical tensions, such as the situation in Ukraine, have ignited interest in cryptocurrencies as a hedge against uncertainty.
Investors are taking a lot of interest in the crypto world right now. This week, eleven new startups got nearly $60 million in funding. They’re mostly working on something called “liquid staking” and making smart contracts more secure. For example, Helio Protocol got $10 million to make a new kind of staking technology. Puffer Finance also got $5.5 million to improve staking.
Talking about Bitcoin Halving, the analyst said that it happens every four years and in 2024, even fewer coins will be around because institutions and people are holding onto them. This could make less supply and higher prices for Bitcoin.
In a fascinating turn of events, XRP, the digital currency associated with blockchain company Ripple, is making headlines once again.
Following Ripple’s recent legal victory against the U.S. Securities and Exchange Commission (SEC), a renowned cryptocurrency analyst has painted an optimistic picture for XRP’s future trajectory, suggesting that it could surge to an impressive $21 in the coming years.
Key Factors for a Possible $21 Surge
The analyst, who goes by the nickname “CoinsKid,” has precisely examined XRP’s price movement on a weekly basis. His in-depth analysis, presented through a video on his YouTube channel, sheds light on a potential major breakthrough.
CoinsKid careful examination has disclosed a crucial factor that could drive XRP’s fortunes – the 78.6% Fibonacci retracement level, currently placed at $1.30. If XRP manages to conquer this significant milestone, it might serve as a compelling buy signal, potentially pushing the cryptocurrency to an impressive $21 by the year 2025.
Unveiling XRP’s Bullish Journey
While CoinsKid’s analysis goes even deeper, suggesting that XRP has been riding a “massive” bull market wave since 2020. They view the recent corrective phase as a natural ebb and flow within the broader bull market cycle. This perspective underscores their unwavering belief in XRP’s long-term potential
At present, XRP is trading at $0.643, showcasing a modest 2.19% gain in the past 24 hours. However, over the past week, it has seen a decline of 9.6%. On a monthly scale, XRP has shown remarkable resilience with a robust 32.54% gain, reflecting its dynamic nature.
Market observers are noting that the recent correction in XRP’s price may be attributed to investors capitalizing on the cryptocurrency’s higher prices. Sellers have come into play while buyers seem to be holding back, possibly due to market uncertainties.
Litecoin Price Triggers a Recovery from $80 Low! Is a Bullish Rally Approaching After LTC Halving Event?
Litecoin’s much-anticipated halving event on Aug 2 has resulted in a 15% price correction from $94 toward the $80 territory. Such a sharp movement has raised eyebrows and sparked intense discussions among crypto traders. However, there’s a hope of bullish momentum as the LTC price ceased its downward trajectory and pivoted upwards from its low. This suggests that bullish players are stepping into the game, positioning the LTC price to regain its previous momentum.
Long Term Holders Increase Despite Selloff By Miners
After Litecoin’s halving, its price dropped significantly due to the “sell the news” trend. Many experienced investors expected this. Data shows long-term holders sold during the price rise, possibly predicting the peak. However, the subsequent price drop was driven by short-term holders, with the current average holding time being around a month, indicating they’re quickly selling to avoid losses.
Recent on-chain data from IntoTheBlock reveals that LTC Miners sold 90,000 coins from their reserves in the past 5 days. On Aug 3, miners had a total of 2.49 million LTC, which decreased to 2.4 million LTC by Aug 7.
With the rewards for mined blocks halving to 6.25 LTC, many miners might need to sell more to cover increasing mining expenses. If Litecoin doesn’t see gains soon, its price might face a sharp decline.
Despite recent challenges, the increasing balance by time held offers a promising view. Even with LTC’s bearish trend over the last 12 months, the number of holders continues to grow. While there were around 32 million holders during the 2021 bull run, that number has now exceeded 41 million, even as the LTC price struggled to surge above $100. This suggests long-term holders remain bullish.
What’s Next For LTC Price?
LTC price has shown a notable recovery rally in the last 24 hours as buyers bought near the dip of $79. Bears tried to break below the bearish consolidation but failed as buyers triggered a surge above 0.038 Fib channel. LTC price broke the consolidation upward at $83 and continued to surge. As of writing, LTC price trades at $84.1, surging over 3% in the last 24 hours.
LTC price recently climbed above the EMA20 trend line and is now aiming to continue its surge by maintaining a momentum above EMA50, which will likely onboard more buyers. The surging EMA lines and the RSI level trading above the midline suggest that bulls have complete control of the price chart.
If the price continues to move upward, it will soon clear the resistance of $88, which will further push the price toward its crucial resistance at $95.
For a bearish turnaround, the price must decline below the bearish channel pattern at $80. If successful, sellers might plunge the token to crucial support of $75.
Bitcoin’s (BTC) investors are facing a dilemma as the top crypto coin’s price keeps falling. The $3 billion decline in BTC’s trading volume pushes crypto whales to cryptocurrencies with massive growth potential. Since the beginning of its presale rally, DigiToads (TOADS) has shown immense promise for long-term growth. Bitcoin investors should consider joining DigiToads for incredible portfolio gains.
DigiToads is reaching a new milestone as it nears $7 million in the presale rally. With ambitious tokenomics and a brilliant blockchain ICO, DigiToads is one of the best meme coins to buy in 2023. The project integrates Web3 and a P2E gaming feature to enable users to make passive income and generate significant returns on investment.
This article will explain how Bitcoin’s investors could consider DigiToads’ presale for potential gains as it soars in demand.
DigiToads (TOADS) Presale Rally Soars Increasingly as Launch Draws Closer
DigiToads has been a media sensation since the beginning of its presale rally. The innovative DeFi project has been among the best-performing meme coins within the last few months, raising over $6.6 million in ten presale stages. The TOADS token has sold over 93% of the tokens allocated for presale, and with the current price at $0.05, interested investors can move into the project for massive returns.
The unprecedented growth of this meme coin is because it has some of the best DeFi offerings for investors. The project allows users to make money and NFTs by playing an immersive game and staking their tokens and earnings for more rewards. Recent reports from analysts have shown that the TOADS token is the top crypto to buy for an unprecedented increase. The TOADS token uses a deflationary mechanism to increase its value over time. The project is predicted to increase by over 500% before the end of the year.
TOADS Tokens- Top Crypto to Buy!
The DigiToads ecosystem is user-friendly, enabling easy navigation around the platform. The TOADS token is the gateway to the exciting offerings of this top DeFi project. Users can create and build their avatars by purchasing in-game items with TOADS tokens. At the end of every gaming season, the top players on the leaderboard will receive some of the coolest NFTs and TOADS tokens. Also, the incredible blockchain ICO will enable users to stake their prizes for more rewards.
As investors prepare for the next bullish rally, DigiToads promises incredible long-term benefits for investors. As one of the best DeFi projects in the market, DigiToads’ strategic marketing indicates its future performance. The presale rally has successfully sold over 375 million tokens to interested investors. The demand for the TOADS token will reach new heights as it becomes the top crypto to buy for future wealth generation and incredible portfolio gains.
Over the years, Bitcoin has remained the most-established cryptocurrency based on market capitalization. The recent price decline has pushed this crypto giant below the market threshold, and investors are reconsidering their investments. Bitcoin’s trading volume has fallen by $3 billion, bowing to the market’s resistance level.
According to new insights from experts, BTC’s recovery may be gradual. Although the current price is around $29,000, BTC is expected to bounce off the resistance line in the coming weeks. As the bullish season draws near, BTC’s trading is in a tight range as the coin’s volatility can make it slip lower than its current price.
DigiToads’ ambition to become one of the top meme coins in the market is gradually coming into shape as the coin reaches a new milestone. With the launch in sight, early investors will witness a sudden surge in the value of the TOADS token as demand increases. The market volatility of BTC within the past few months is making some of its top investors consider DigiToads for significant portfolio recovery. As Bitcoin’s trading volume dips by over $3 billion, investors could shift to the unique TOADS token because it presents the potential for massive growth. Early investors stand the best chance to increase their portfolio gains with this revolutionary DeFi project.
Shiba Inu (SHIB), the self-proclaimed “Dogecoin killer,” has taken the crypto market by storm over the last few days, with its price skyrocketing to new levels. However, as with all things in the volatile market of memecoins, the rally has begun to show signs of slowing down. Amidst the bullish anticipation of Shibarium’s debut, the recent deceleration in its price surge has left investors and enthusiasts speculating about a possible rebound rally and an opportunity to purchase during the dip.
Shiba Inu’s Trading Volume Surges
In a positive twist for the meme coin sector, Shiba Inu is witnessing a substantial rise in its price movement. A key driver behind this remarkable upswing has been a surge in trading volume. This influx of funds into the Shiba Inu market points to a revived interest from investors, possibly signaling a return of bullish momentum.
The recent climb of SHIB offers a compelling contrast to the wider market’s challenges, marked by scams and rugpull incidents involving other meme coins such as BALD and PEPE. While these tokens have been facing drastic price declines, Shiba Inu has managed to sustain a degree of stability.
Recently, Shiba Inu unveiled its latest product, ShibariumSSI, a platform focused on Self-Sovereign Identity (SSI). This move, aimed at enhancing user control over digital identities amid growing data privacy concerns, has ignited bullish confidence in the project.
Moreover, Binance has declared an expansion of its Flexible Loan and VIP Loan services, now including more collateral and loanable crypto assets. Notably, the meme coin Shiba Inu is among the newly added collateral options. As Shibarium is poised to get launched this August, investors will likely push the meme coin above, achieving long-term bullish goals.
What’s Next For SHIB Price?
SHIB’s price rebounded from the 20-day EMA at 0.00000837 today, suggesting that buyers are stepping in at lower levels. As of writing, SHIB’s price trades at $0.00000865, surging over 4.5% in the last 24 hours.
However, the upward momentum couldn’t push the price beyond the resistance near $0.0000088. Capitalizing on this, the bears have once again driven the price below the 23.6% Fib channel. If this happens multiple times, it could indicate that bullish control is weakening, potentially leading to a drop to the breakout level of $0.00000816 for the Shiba Inu price.
As the RSI level continues to hold momentum and surges to the overbought region, bulls are again attempting to send the price above $0.0000088 to trigger another skyrocketing surge. This implies that the market sentiment is still positive and that bulls are capitalizing on the dips. This could increase the likelihood of breaking through the resistance overhead, potentially pushing the price toward $0.0000091 and then to $0.00001.
Failing to sustain above the $0.80 mark, XRP price action maintains a declining trend leading to a falling wedge pattern in the four-hour chart. The remarkable 20% drop in market value over the last two weeks brings the XRP coin price under the $0.70 mark.
Currently, the XRP coin price dives from the overhead resistance trendline, accounting for a 5.79% drop in the last 24 hours. However, the 4-hour chart displays lower price rejection from the support trendline highlighting the buyer’s acceptance to absorb the excessive selling pressure.
As per the Fibonacci retracement level, the four XRP price takes support from the support conference of the 50% level and the 200 EMA at $0.65. However, the decline in the 50 EMA line projects a possibility of a death cross.
Moreover, the RSI indicator displays positive divergence within the falling wedge pattern, which may increase the chances of a bullish reversal leading to an upside breakout.
If the Ripple price trend manages to exceed the overhead supply at $0.69, leading to a bullish breakout, the XRP market value may reclaim the $0.80 mark. Even challenge the overhead supply to potentially create a new swing high above $1.
On the opposite end, a bearish breakdown of 50%, Fibonacci level at $0.65 can lead to a further decline in the Ripple market value. The breakdown rally can crash the XRP prices by 6.48% to test the bullish dominance at $0.60, coinciding with the 61.80% Fibonacci level.
Struggling to regain bullish momentum over the last few months, the FLOKI coin price is declining. Taking constant support from the $0.000023 level, FLOKI price action forms a descending triangle pattern.
Currently, the FLOKI price action is forming a bearish candle with an intraday fall of 1.56%. However, the overall price trend close to the support level increases a positive cycle possibility.
Maintaining a sideways trend, FLOKI coin price action forms a consolidation range at the bottom support of the triangle pattern. Moreover, the price action displays multiple lower price rejection candles representing buyers ready to absorb any spike in supply pressure.
The daily RSI line maintains positive growth despite the sideways trend in the FLOKI price, giving rise to a bullish divergence. Moreover, the MACD indicator showcases a bullish crossover in action. Therefore, the technical indicators maintain a positive standpoint for the meme coin.
Considering the FLOKI price action starts a new bull cycle, the unleashed price trend can pump the fourth largest meme coin by 10% to $0.0000249. Optimistically, a triangle breakout can prolong the uptrend to the $0.000030 mark.
On the flip side, a breakdown below $0.000023 will plunge the FLOKI coin price by 23% to test the $0.00001715.
With a sharp recovery of 4.70% in the last 24 hours, the PEPE coin price reclaims its spot in the top-performing cryptos. Ranking as the third biggest meme coin per market cap, the PEPE coin price finds a sharp recovery, ready to give a breakout entry opportunity.
PEPE coin price action maintains a declining trend under the influence of a strong resistance trendline. The bear trend accounts for a significant price drop of 24% within the last three weeks.
Currently, the PEPE coin price action forms a double bottom pattern by finding support at the 61.80% Fibonacci level. The Fibonacci level is at $0.000001225 and bounces higher PEPE coin price to challenge the resistance trendline.
However, the meme coin faces higher price rejection leading to an evening Star pattern. Hence, we can expect another negative cycle before any breakout.
Moreover, the bullish divergence in the RSI indicator projects a potential reversal in the meme coin. It can lead to the resistance trendline breakout and the 50% Fibonacci level at $0.000001343.
Optimistically, the 50% Fibonacci level breakout can drive the meme coin price by 20% to reach the 23.60% Fibonacci level at $0.00000160. However, a further decline in the meme coins market value can break down the 61.80% Fibonacci level. The breakdown can drop the prices by 15% to test the 78.60% Fibonacci level at the psychological mark of $0.0000010.
Former SDNY Attorney Joins Ripple’s Defense Team in XRP Lawsuit Appeal, Market Expects Bullish Rally
Excitement and anticipation ripple through the XRP community as Ripple, the prominent blockchain technology company, bolsters its legal defense against the United States Securities and Exchange Commission (SEC). In the midst of recent changes in legal representation for Ripple Labs and its executives, Brad Garlinghouse and Chris Larsen, the addition of an esteemed attorney brings newfound strength to the defense team.
The attorney in question is none other than Douglas Samuel Zolkind, a partner at the prestigious law firm Debevoise & Plimpton. According to a filing in the District Court for the Southern District of New York (SDNY), Zolkind has formally entered his appearance on behalf of Ripple Labs, significantly bolstering their legal front.
With a background in white collar criminal defense, government investigations, and internal investigations, Zolkind’s expertise adds substantial firepower to Ripple’s defense strategy. Notably, he previously served as a senior member of the Criminal Division’s Public Corruption Unit of the SDNY, showcasing his wealth of experience in complex legal battles.
Zolkind’s involvement brings light as SEC looks to appeal
As the US SEC gears up to file an appeal against Judge Torres’ summary judgment ruling, Zolkind’s involvement comes as a timely boost to Ripple’s position in the ongoing legal tussle. The case has garnered immense attention from the cryptocurrency community and regulatory circles, and the outcome could have far-reaching implications for the industry.
Presently, Magistrate Judge Sarah Netburn has urged both Ripple and the SEC to come to an agreement on dates for a possible settlement, focusing on other matters related to the sale of XRP to institutional investors. However, amidst the settlement discussions, the SEC has dropped hints of a potential appeal, setting the stage for further contention.
For the XRP community, the addition of Douglas Samuel Zolkind to Ripple’s legal team brings renewed hope and confidence. As the case continues to unfold, stakeholders eagerly await the next developments and the potential implications they may have on the broader crypto landscape.
The legal showdown between Ripple and the SEC has become a captivating saga that has caught the attention of crypto enthusiasts and legal experts alike. As the courtroom drama plays out, the implications of the final verdict will undoubtedly reverberate throughout the cryptocurrency industry, shaping the regulatory landscape and investor sentiment towards digital assets.
Ethereum’s Recovery Rally Fades As Sellers Prevent A Surge Above $1900! Here’s ETH Price’s Next Move
Ethereum’s struggle to surpass the $1,900 mark is mirrored by Bitcoin, which remains unable to break past the significant $29.5K threshold. Sellers have built up a strong resistance, causing the previously promising rally to lose momentum. Despite numerous attempts, Ethereum failed to surge above $1.9K due to the intense selling pressure. As a result, the price has entered a phase of consolidation, fluctuating around a crucial price level.
Bulls Continue To Book Profit Near Higher Levels
As Ethereum struggles with the $1,900 resistance level, a noticeable trend has emerged. Bulls continue to book profits near these higher levels. This trend is a clear indication of the current market sentiment – investors are taking advantage of the price spikes to secure their gains.
Coinglass data reveals that as Ethereum’s price approaches the $1.9K threshold, investors are quickly closing their positions. The chart indicates that when Ethereum’s price reached $1,875 on July 30th, the combined liquidation of both long and short positions surpassed $7 million. Notably, bullish investors were the primary contributors to this liquidation, closing positions worth over $5.6 million.
This profit-booking activity near the $1,900 mark is contributing to the selling pressure that’s preventing Ethereum from breaking through this critical resistance level. Each time the price nears this level, a wave of sell orders comes in, causing the price to retreat.
While this may be frustrating for those hoping for a sustained rally, it’s a common occurrence in volatile markets. Investors, particularly those who may have bought in at lower levels, are often keen to lock in profits when prices reach certain targets. In Ethereum’s case, the $1,900 level appears to be one such target.
If the ETH price gains enough buying pressure to overcome the sell orders at $1,900, it could potentially trigger a new wave of buying activity.
What’s Next For ETH Price?
Ether has been trading in a range-bound zone between the moving averages in recent days, indicating that while bulls are capitalizing on dips to the 50-day EMA, they are struggling to send the price beyond the 20-day EMA. As of writing, ETH price trades at $1,862, declining over 0.98% in the last 24 hours.
This tight trading range is likely to result in a solid breakout, either in a downward or upward direction. If the bulls manage to push the price above the 20-day EMA at $1,878, the ETH price could potentially break above $1,900 and test its resistance near $1,960. A successful surge from this level will send the price toward $2K.
On the flip side, if the price reverses and dips below the 100-day EMA, it would signal that the bears are gaining control. In this scenario, the price might continue to fluctuate within the broader range of $1,624 to $1,800 for an extended period.
Last week was catastrophic for Bitcoin as it lost its support at $30,000, while Bitcoin (BTC) price continued to consolidate around $29,000 to $29,500 on Monday. This has left many crypto traders worried due to the short-term price fluctuations in the Bitcoin market.
Bitcoin’s Massive Bull Rally is On the Horizon?
But one such analyst is optimistic about Bitcoin (BTC) as he predicts the cryptocurrency is gearing up for an impressive bull run that could propel it to an all-time high before the year’s end.
In a recent video shared with his substantial Twitter following of 343,200, Credible Crypto identifies Bitcoin’s current trend as a five-wave uptrend, according to the principles of Elliott Wave theory, a technical analysis approach rooted in crowd psychology and wave patterns.
His take is on the third wave, he specifically points out that BTC is currently in the midst of its major third wave, which is typically the strongest and sets the stage for a parabolic surge to the upside. He sees a major bull run once the crypto breaks out of its current consolidation phase, expressing confidence in the potential for “monthly candles” around $10,000 once the breakout occurs.
BTC to Hit Its ATH in November?
Meanwhile, Elliott Wave theory suggests that rising prices occur in a five-wave pattern during a bullish rally, with waves one, three, and five characterized by more rapid increases in value. Furthermore, each major wave is further broken down into smaller movements (sub-waves) of five waves.
“Generally, the third wave is the strongest”
He placed his initial wager in stage three, and further analysis of his theory led him to conclude that Bitcoin is entering the most powerful third sub-wave of its third major wave. From here onwards, he forecasts that the next upswing might drive Bitcoin’s price to $42,000.
However, looking at the graph, it’s clear that Credible Crypto expects Bitcoin’s major wave three to push the price above $58,000 by the end of October. A retracement to $49,000 after this rise would finish the fourth big wave. Then, he believes BTC will continue to rise until it reaches $75,000 in November, marking the end of a five-wave advance.
As of the time of writing, Bitcoin is trading at $29,345. With Credible Crypto’s bullish outlook and the cryptocurrency’s history of significant price movements, the crypto community eagerly awaits to see if BTC can fulfil these ambitious targets and potentially reach new record highs.