Tag: Support

Binance.US Updates Crypto Listing Process, Says Exchange Considering Launching Trading Support for Aptos Rival

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Binance’s US arm is updating the way it lists crypto assets by giving traders advance notice when it is considering adding trading support for a new token. Binance.US says the new procedure aims to provide additional transparency to its listing process. The first asset the exchange is evaluating with the new process is the native token of the recently launched layer-1 blockchain Sui Network (SUI). Sui Network’s mainnet first went live in early May. The project is an Aptos (APT) rival and uses the same coding language, Move, which was…

Flare Network Will Burn 2% of Total Token Supply to Support Ecosystem

“We are very happy to have reached an agreement with our shareholders and thank them for their support,” Hugo Philion, CEO and co-founder of Flare, said in a statement. “Without this burn, the investors would be able to claim approximately 3x their original allocation through the FlareDrops, unfairly diluting community holdings.” Source BurnEcosystemFlareNetworkSupplySupportTokenTotal CryptoX Portal

Bank of Russia to support CBDC development

The Bank of Russia has announced changes to regulating its central bank digital currency (CBDC), the digital ruble. The central bank will allow foreign banks to open digital ruble accounts from Jan. 1, 2025 to promote cross-border payments and financial inclusion. The digital ruble is a digital form of the national currency that will coexist with cash and non-cash rubles. It will be issued and controlled by the Bank of Russia and will have the same legal status and value as other forms of the currency. The central bank plans…

Ethereum Price Plunge Imminent as Key Support Line Collapses

Ethereum price is moving lower toward the $1,500 support against the US dollar. ETH could correct higher, but upsides might be limited above $1,565. Ethereum is struggling to start a recovery above $1,550. The price is trading below $1,565 and the 100-hourly Simple Moving Average. There are two bearish trend lines forming with resistance near $1,555 and $1,570 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher, but the bears might remain active near $1,565. Ethereum Price Extends Losses Ethereum remained in a bearish…

Bitcoin Struggles to Maintain Support Level Above $27K amid Weakness in Altcoins and US Stock Market Rebound

Bitcoin dominance has regained 51 percent of the total crypto market valuation despite the recent struggle to rally beyond $28k amid short-term market uncertainty caused by puzzles of economic geopolitics. Amidst a global shift in economic outlook triggered by the BRICS alliance, Bitcoin (BTC) has been identified as a crucial instrument to hedge against high inflation. However, the Bitcoin price has struggled to rally beyond $28k in the past few days as the mother coin retested around $26.9k in the past 24 hours. According to the latest market data provided…

This Support Could Trigger Fresh BCH Rally

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Bitcoin Cash price is holding the key $205 support against the US Dollar. BCH could start a fresh increase if it stays above the $205 and $200 support levels. Bitcoin cash price started a fresh decline below the $230 level against the US Dollar. The price is trading below $220 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $217 on the 4-hour chart of the BCH/USD pair (data feed from Kraken). The pair could start a fresh increase unless…

Ethereum Price Targets Fresh Lows, Can Bulls Save This Key Support?

Ethereum price is struggling to stay above the $1,550 support against the US dollar. ETH could take a hit if it settles below $1,550 and then $1,540. Ethereum is showing bearish signs and struggling to clear the $1,600. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a recovery wave if the bulls defend the $1,550 support zone. Ethereum Price Struggles…

Shiba Inu Price Dips Below Key Support: Enter Or Exit SHIB?

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The Shiba Inu (SHIB) price currently treads on crucial technical terrains. As highlighted in previous comprehensive analysis, the potential impacts of two distinct chart patterns were observed on the 1-week timeframe for SHIB, both leading to vastly different price trajectories. The 1-week chart reveals a compelling quadruple bottom formation for SHIB. If this pattern materializes, it could suggest a bullish surge of up to 250% from its breakout point, as delineated in prior assessments. Conversely, a starkly contrasting pattern emerges in the form of a descending triangle, which has taken…

Will Support Levels Halt Decline Above $0.27?

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Cardano (ADA) has been on a rollercoaster ride in the cryptocurrency market, with its recent price recovery rally encountering some significant challenges.  As of the latest data from CoinGecko, ADA is trading at $0.261, showing a modest 1.7% gain in the past 24 hours, but boasting a seven-day rally of 4.9%. However, beneath the surface, there are signs of growing overhead pressure that could limit ADA’s upward momentum. ADA’s journey to reclaim its previous highs faces its first major hurdle at the $0.26 mark. But this is just the beginning,…