Day: October 24, 2024

XRP Price Aims to Recover: Can It Reverse the Downtrend?

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XRP price extended losses and tested the $0.5120 zone. The price is now rising and might attempt to clear the $0.5320 resistance zone. XRP price is correcting losses from the $0.5120 zone. The price is now trading below $0.5400 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $0.5280 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5350 resistance zone. XRP Price Starts Fresh Increase XRP…

Bitcoin’s Network Fundamentals Turn Bullish—Here Are The Details

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Amid the ongoing Bitcoin price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D has highlighted key shifts in the asset’s network fundamentals. This key shift in Bitcoin’s network fundamentals includes the rise in Bitcoin’s hashrate, which has surged to an all-time high, marking a significant milestone for the network. According to Mac.D in a recent post on the CryptoQuant QuickTake platform, the rise in BTC hashrate, which measures the computational power miners use, suggests “intensified competition” among miners, driving up the mining difficulty to…

Ethereum Price Faces Key Hurdles: Can It Break Through?

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Este artículo también está disponible en español. Ethereum price extended losses and tested the $2,450 support zone. ETH is recovering losses and faces many hurdles near the $2,550 level. Ethereum started a downside correction below the $2,550 support. 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 $2,560 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,550 and $2,600 resistance levels. Ethereum Price…

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

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Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $66,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $67,500 resistance zone. Bitcoin Price Starts Fresh Increase Bitcoin price…

Bitcoin Options Traders See $80,000 BTC By November End, US Election Outcome Irrelevant

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Este artículo también está disponible en español. According to crypto options traders, Bitcoin (BTC) is primed to break through its previous all-time high (ATH) regardless of who wins the US presidential election in November. US Elections Results Not Consequential As the US presidential elections inch closer, a slight change in tone can be observed among crypto options traders regarding its implications on the digital asset market. Related Reading Notably, options traders are increasingly betting big on $80,000 BTC by the end of November, regardless of whether Republican candidate Donald Trump…

Chainlink Holders Accumulating Amid CCIP Upgrade: Is A LINK Breakout Imminent?

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Chainlink is the leading middleware, linking on-chain dapps with external data securely. While the platform is critical in many crypto sectors, especially DeFi, LINK has recently struggled for momentum. LINK Holders Moving Tokens From Exchanges: Are They Accumulating? However, on-chain streams from IntoTheBlock reveal that more holders are moving tokens from top exchanges like Binance and Coinbase. In a post on X, the analytics platform observes that exchange flow over the past month has been negative, signaling sustained withdrawals. Usually, whenever tokens are moved from exchanges, it could indicate that…

RedStone launches AVS testnet on EigenLayer

RedStone, a modular oracles platform for decentralized finance, has launched the testnet of its data validation service on the restaking network EigenLayer. The oracle platform announced the launch of a testnet for its actively validated service on EigenLayer (EIGEN) on Oct. 23. An Actively Validated Service allows for off-chain validation, enabling users to benefit from reduced gas consumption, price data accuracy, and consistency. Decentralized finance reached all-time highs of over $300 billion in total value locked at its peak in December 2021. According to RedStone, further innovations such as oracle…

Expert Picks 5 Altcoins To Watch, Declaring Arrival Of The Altseason After Three Years

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Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration…

Bitcoin Price Shows Bearish Engulfment After Breakout, Here’s How Far The Price Could Crash

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Este artículo también está disponible en español. The Bitcoin price action is raising concerns after a failed attempt to push past critical resistance levels, with bearish signals now emerging. According to an analysis shared on TradingView by the analyst RLinda, Bitcoin could be on the way to reversing last week’s gains and correcting heavily due to the formation of a bearish engulfing pattern. Failed Push Above $69,000 Marks Bearish Reversal For Bitcoin RLinda’s analysis of the Bitcoin price trajectory is based on a new bearish engulfment candlestick pattern that is…