Day: September 3, 2024

Polkadot Price Lags: Can DOT Establish a Base for Recovery?

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Polkadot (DOT) is struggling below $5.00 against the US Dollar. The price must settle above the $4.35 and $4.50 resistance levels to start a decent increase. DOT declined steadily below the $5.50 and $5.00 levels against the US Dollar. The price is trading below the $5.00 zone and the 100-hourly simple moving average. There was a break above a connecting bearish trend line with resistance at $4.18 on the hourly chart of the DOT/USD pair (data source from Kraken). The pair could start a decent upward move if it settles…

XRP Price Eyes $0.60: Can It Pick Up the Pace?

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XRP price started a recovery wave from the $0.5440 zone. The price is now eyeing more gains above the $0.5720 resistance zone in the near term. XRP price started a decent increase from the $0.5400 zone. The price is now trading above $0.5620 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $0.5560 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could climb higher toward the $0.600 zone if it clears the $0.5720 resistance…

Venezuelan President Nicolas Maduro Proposes Retaking the ‘Crypto Path’

Venezuelan President Nicolas Maduro discussed the possible future of the national cryptocurrency system following the so-called PDVSA-Crypto scheme, which resulted in the loss of $20 billion in unaccounted oil sales paid in crypto. Maduro stated that the country needed to retake the crypto path but gave no indications regarding the revival of the national cryptocurrency […] Source CryptoX Portal

Ethereum Maintains Similarities With 2016 Price Movements

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Este artículo también está disponible en español. The Ethereum price action has significantly underperformed traders’ expectations over the past few months. Ethereum is currently trapped in a bearish trend, with its price now down by 23% over a 30-day period. This downturn contrasts sharply with the hopes of many ETH investors who have been anticipating a bullish surge following the launch of Spot Ethereum ETFs. However, technical analysis suggests that Ethereum’s recent performance is not unusual for the cryptocurrency, as it appears to be mirroring a similar pattern observed in…

Can Bulls Sustain the Recovery?

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Este artículo también está disponible en español. Ethereum price is attempting a recovery wave from the $2,400 zone. ETH must clear $2,550 to continue higher in the near term. Ethereum started a decent recovery wave above the $2,450 level. The price is trading above $2,500 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $2,485 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above $2,500 to start another increase in the near term. Ethereum…

Detained Binance Exec Begs Prison Guard for Help in New Court Footage

At first, Gambaryan and his colleague Nadeem Anjarwalla, Binance’s regional manager for Africa and a dual Kenyan-British national, were placed under house arrest. But when Anjarwalla escaped under mysterious circumstances in March, Gambaryan was transferred to the notoriously dangerous Kuje prison and charged with tax evasion and money laundering – seemingly as a scapegoat for his employer, which Nigerian officials have accused, without evidence, of tanking the value of the national currency, the naira. Source

Bitcoin Price Rebounds, But Key Hurdles Could Stall Progress

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Este artículo también está disponible en español. Bitcoin price started a recovery wave from the $57,200 zone. BTC is rising, but it might struggle to surpass the $60,200 and $61,150 resistance levels. Bitcoin is attempting a recovery wave above the $58,000 support zone. The price is trading above $58,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $58,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could face heavy resistance at $60,200…

Legal Advisers Doubt Full Crypto Recovery For Customers

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Este artículo también está disponible en español. The legal team for WazirX said today that the exchange’s customers doubt whether the exchange should be made whole in crypto terms. Another Jolt For The Affected WazirX Users Leading Indian cryptocurrency exchange WazirX suffered a massive security breach on July 18, 2024, resulting in hackers stealing $230 million of customers’ digital assets. In the latest development, the exchange’s legal advisers have opined that users are unlikely to recover their funds in full despite the ongoing restructuring process.  Related Reading Speaking on a…

SBI VC Trade and Metaplanet Team Up for Advanced Bitcoin Trading Solutions

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Metaplanet and SBI VC Trade have formed a strategic partnership to enhance bitcoin trading, storage, and management. This alliance aligns with Metaplanet’s “bitcoin first, bitcoin only” strategy, emphasizing BTC’s scarcity and decentralized nature. The partnership provides Metaplanet access to SBI VC Trade’s tax-efficient corporate custody services and the ability to use bitcoin as collateral, supporting […] Original