Tag: Support

SOL Jumps 15% In 24 Hours As Solana Receives Support From Ethereum Founder

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Solana (SOL) has been completely engulfed in FUD since the FTX crash. This invariably resulted in the price of the token declining much faster than the rest of the market, and last week, SOL touched single-digit values for the first time in almost two years. However, there seems to be a turn in the tide for the digital asset as it receives support from Vitalik Buterin. Vitalik Buterin Offers Support To Solana  Taking to Twitter, Ethereum founder Vitalik Buterin expressed support for Solana for the first time. Solana which had…

Polygon (MATIC) Depicts Further Downtrend Next Support Level

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The Polygon (MATIC) price has been on a downward spiral for the last couple of weeks. Over the last 24 hours, MATIC lost 4% of its value. The altcoin has also lost about 6% in the last week. Earlier in November, MATIC touched the $1.20 price mark and plunged significantly. Since the coin plummeted in November, the Polygon price has noted a freefall in its value. Going by the technical outlook on the daily chart, buyers are nowhere to be found. It will be difficult for MATIC to sustain itself…

Dogecoin Price Tumbles Below Support, Why This Could Be Strong Bearish

Dogecoin extended its decline below the $0.070 support against the US Dollar. DOGE could continue to move down towards the $0.0620 support zone. DOGE gained pace and traded below the $0.072 support against the US dollar. The price is trading below the $0.0700 zone and the 100 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.0698 on the 4-hours chart of the DOGE/USD pair (data source from Kraken). The pair could dive further towards the $0.062 support in the near term. Dogecoin Price…

NEAR Struggles As Bulls Aim To Flip $1.45 Resistance Into Support

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NEAR, the native crypto of Near Protocol, seems to continue mirroring the trajectory of Bitcoin, one of the main driving forces of the cryptocurrency industry. The largest crypto asset boasting a total market capitalization of $320.76 billion has so far failed to establish a strong upward momentum that will enable it to exit 2022 with a higher value. In fact, BTC, which is trading at $16,658, is in danger of ending the year with a meager gain of less than 2%. At the time of writing, the maiden crypto has…

Ethereum Price Could Resume Decline If This Support Paves Way

Ethereum started a fresh decline from the $1,230 resistance against the US Dollar. ETH could accelerate lower if there is a clear move below the $1,180 support. Ethereum is showing bearish signs and trading well below the $1,230 resistance zone. The price is now trading below $1,200 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,205 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if there is a clear move below…

Recovery Could Derail If This Support Gives Way

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Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it stays below the $0.3720 resistance. Ripple is currently recovering above the $0.355 resistance zone against the US dollar. The price is now trading near $0.360 and the 100 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $0.3480 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh decline if…

MATIC Seen Breaking Present Support With Sustained Momentum

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MATIC has shown rapid accumulation or increase in the supply since the final days of November. More so, there was also an increased demand seen in the derivatives market which could be the outcome of positive Binance Funding Rate on the MATIC/USDT pair. CoinMarketCap data shows that MATIC price is now up by 1.48% or trading at $0.8019 at the time of writing. With the rate it’s going, Polygon could further retest of even breach the present support level with sustained momentum. Price still could potentially slide further towards $0.7736…

Bitcoin rebound to $18.4K? BTC price derivatives show strength at key support zone

Bitcoin (BTC) price lost 11.3% between Dec. 14 and Dec. 18 after briefly testing the $18,300 resistance. The move followed a 7-day correction of 8% in the S&P500 futures after the U.S. Federal Reserve chair Jerome Powell issued hawkish statements after raising the interest rate on Dec. 14. Bitcoin price retreats to channel support Macroeconomic trends have been the main driver of recent movements. For instance, the latest bounce from the 5-week-long ascending channel support at $16,400 has been attributed to the Central Bank of Japan’s efforts to contain inflation.…

Wallet Developer SafePal Announces Support for The Open Network (TON)

This partnership with TON will allow SafePal’s hardware and software wallet users to store and send the $TON coins and interact directly with TON dApps. On Wednesday, December 21, Singapore-based wallet developer SafePal announced adding support for The Open Network (TON). The Telegram team had originally designed TON which is now an independent and entirely open community project. SafePal and TON This partnership with TON will allow SafePal’s hardware and software wallet users to store and send the $TON coins. The integration would also allow SafePal users to interact directly…