Day: August 29, 2024

Solana Price (SOL) Slips: Will a Break Below $140 Trigger More Downside?

Solana started a fresh decline below $155 and $150. SOL price tested $140 and is currently struggling to start a recovery wave. SOL price started a fresh downward move below $150 against the US Dollar. The price is now trading below $148 and the 100-hourly simple moving average. There is a short-term declining channel forming with resistance at $145.50 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a recovery wave if it clears the $148 resistance zone. Solana Price Revisits $140 Solana…

Why is Solana down by 30% from its 2024 high?

Solana price has remained in a deep bear market, falling by over 30% from its highest point in 2024. Solana (SOL), the fifth-largest cryptocurrency in the industry, was trading at $145, down from its year-to-date high of $210. Its valuation has retreated from a YTD high of $86 billion to $68 billion. SOL is in a bear market because of its correlation with Bitcoin (BTC) and other altcoins. Bitcoin has dropped by almost 20% from the YTD high while coins like Ethereum (ETH), Avalanche (AVAX), and Cardano (ADA) are down…

XRP Bulls Target New Gains: Will They Achieve a Breakout?

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XRP price dropped toward the $0.5550 level before the bulls appeared. The price is now consolidating and might aim for a fresh increase above $0.580. XRP price started a consolidation phase after a drop toward the $0.5550 zone. The price is now trading below $0.580 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.5720 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could attempt a recovery wave if it clears the $0.580 resistance zone. XRP…

TON-Based Memecoin Becomes Largest Gainer With 30% Jump

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Despite adverse market conditions, dogs (DOGS) saw a significant price jump in the last 24 hours. The token, launched on The Open Network (TON), saw a 34% surge amid the market volatility and the blockchain’s recent outage. Its performance propelled the price to a market cap above $800 million, fueling a bullish sentiment among investors. Related Reading TON-Based Memecoin Takes The Market By Storm DOGS is a TON-based memecoin centered around a dog mascot, “Spotty,” created by Telegram’s founder, Pavel Durov. The project recently announced a massive airdrop and listing…

Ethereum Price Hints at Recovery: Is a Comeback in Sight?

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Ethereum price tested the $2,400 zone and recovered some losses. ETH must clear the $2,550 resistance zone to start a decent increase in the near term. Ethereum started a consolidation phase after a sharp decline to $2,400. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,555 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a recovery wave if it clears the $2,555 and $2,600 resistance levels. Ethereum Price Eyes…

TON Back Online After Second Outage

On Wednesday local time, Durov was indicted in a French court on charges related to enabling illicit transactions and child exploitation on the platform, failing to cooperate with police and providing encryption services without controls, following his recent arrest near Paris, among other charges. Source

Can Bulls Launch a Recovery?

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Bitcoin price started a consolidation phase near the $58,500 level. BTC must clear the $60,500 resistance to start a recovery wave in the near term. Bitcoin tested the $58,000 zone before there was a minor recovery. The price is trading below $62,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance at $60,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might slip again if there is no move above the $60,500 resistance. Bitcoin Price Starts…

Crypto.com and PayPal team up to simplify US crypto purchases

Crypto.com and PayPal are teaming up to use PayPal as a funding method for Crypto.com users. This collaboration enables U.S. users to fund their crypto purchases using PayPal. By linking their PayPal and Crypto.com wallets, users can easily transfer digital assets. Although currently available only in the U.S., the company plans to expand this feature to other markets. The introduction of PayPal as a payment method enhances Crypto.com’s offerings, allowing users also to top up their Crypto.com Visa Cards.  This news comes as PayPal’s stock has surged over 26% this…

Tether Collaborates with Rezo Money to Enhance Blockchain Education in Guinea

Darius Baruo Aug 29, 2024 02:40 Tether and Rezo Money team up to promote blockchain education in Guinea, aiming to boost digital literacy and financial inclusion. Tether Operations Limited, a leading company in the digital asset industry, has announced a strategic partnership with Rezo Money, a digital payment platform, to advance blockchain education in Guinea. This collaboration aims to foster digital literacy and financial inclusion in emerging markets, according to tether.io. Educational Workshops in Conakry As part of this initiative, Rezo Money…

Bitcoin’s Sudden Drop: Could This Be a Setup for a Massive Rally? Analyst Weighs In

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Bitcoin, the world’s leading cryptocurrency, has experienced a noticeable decline in its price over the past two days, dropping from a high of $63,000 to as low as $57,000. This decrease can be considered as unexpected as it surprised many. So far, crypto analysts are reassessing their outlook on Bitcoin. Despite no hope of a bullish catalyst in sight, some analysts believe this ongoing plunge could be a temporary setback in a larger bullish trend. Bitcoin Decline Suggests A Setup For Massive Rally? Renowned crypto analyst Javon Marks recently shared his updated perspective…