Tag: Support

Bitcoin price risks falling to $44k if key support breaks

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As the recent Bitcoin price recovery stalls, there is a risk that the coin could drop by 25% in the coming weeks. Bitcoin (BTC) recovered by 27% from its lowest point on Aug. 5 but faced strong resistance at $62,000. It has recently lost key support at $60,000 and was trading at $59,000 on Aug. 13. Data from CoinGlass shows that Bitcoin’s 24-hour volume in the spot market has stabilized at $34 billion. However, open interest in the futures market has moved sideways in recent days, standing at $28 billion,…

Bitcoin Technical Analysis: BTC Struggles Amidst Bearish Pressure, Eyes Key Support Levels

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Bitcoin’s price on August 12, 2024, stands at $59,777, with intraday 24-hour prices ranging between $57,814 and $61,054. The cryptocurrency’s market capitalization is $1.16 trillion, supported by a 24-hour trade volume of $29.81 billion. As bitcoin navigates this challenging environment, technical indicators reveal continued bearish momentum, testing the resolve of bullish investors. Bitcoin The 1-hour […] Original

Will This Level Support a Rebound?

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…

XRP Price Reaches Support: Will It Trigger a Turnaround?

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XRP price started a downside correction from the $0.6480 resistance. The price is now testing the $0.550 support and might eye a fresh increase. XRP price started a downside correction below the $0.620 and $0.600 levels. The price is now trading below $0.600 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.5750 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $0.580 resistance zone. XRP Price Hits…

Dogecoin Bounces Off Key Support Following Crash Below $0.1

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Dogecoin (DOGE) was one of the tokens significantly affected by the recent crypto market crash. With the crypto market recovering, the meme coin is showing signs of life and is looking to reclaim the psychological support level of $0.1, having bounced off key support.  Dogecoin Bounces Off Key Support With $0.1 In Sight Crypto analyst World of Charts mentioned in an X (formerly Twitter) post that Dogecoin is bouncing from the key support at $0.09. In line with this, the analyst revealed that he will be adding to his position…

Ethereum (ETH) Community Comes in Numbers To Support Utility Memecoin Mpeppe Built On ETH Blockchain

The Ethereum (ETH) community has rallied in significant numbers to support Mpeppe (MPEPE), a new utility memecoin that is making waves on the Ethereum (ETH) blockchain. As the cryptocurrency landscape continues to evolve, Mpeppe (MPEPE) is capturing the attention of Ethereum (ETH) enthusiasts with its unique blend of blockchain innovation and meme culture. Here’s why the Ethereum (ETH) community is flocking to support this promising new project. MPEPE: A New Breed of Memecoin on Ethereum (ETH)’s Blockchain Mpeppe (MPEPE) is not just another memecoin; it represents a new wave of…

Bitcoin bill gains support, thousands push US senators to back it

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U.S. citizens are backing a bill to create a Strategic Bitcoin Reserve following remarks from former President Donald Trump and Wyoming Senator Cynthia Lummis. According to Bitcoin (BTC) proponent Dennis Porter, nearly 3,000 U.S. constituents requested Senatorial support for a “Strategic Bitcoin Reserve” bill.  Porter highlighted that Democratic Senators received the lion’s share of letters from Americans, about 1,746 in number. The petitions to co-sponsor are likely in response to and support of Senator Lummis’s crypto legislation.  BRREAKING: Nearly 3,000 letters sent to U.S. Senators asking them to co-sponsor the…

Bitcoin may restest $48.9k support

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Bitfinex analysts opined that Bitcoin might retest support around $48,900 as a potential local bottom after crypto markets dropped under $2 trillion. Bitcoin (BTC), crypto’s bellwether asset, could reach lower levels as worldwide economic uncertainty wiped out over $570 billion in digital asset value since August began. Bitfinex analysts shared that Bitcoin could revisit support after plunging under $50,000 if bullish momentum remained unavailable.  Following the latest downswing, BTC dominance rose as high as 60%, meaning that Bitcoin made up most of the market and was the leading asset for…

Circle to Cease USDC Support on Flow Blockchain Amid Network Upgrade

Jessie A Ellis Aug 05, 2024 16:39 Circle announces the discontinuation of USDC support on the Flow blockchain due to an upcoming network upgrade, effective September 3, 2024. Circle has announced that it will discontinue support for USDC on the Flow (Cadence) blockchain effective September 3, 2024, due to an upcoming network upgrade. According to Circle, the minting of USDC on Flow will continue until August 27, 2024, at noon ET. Impact on USDC Holders Circle has urged Circle Mint customers, retail…