Tag: Support

Bitcoin Price Tests Support: Will It Bounce Back Stronger?

Bitcoin price failed to clear the $61,500 resistance zone. BTC is now retesting the $58,000 support and might attempt a fresh increase. Bitcoin started a fresh decline from the $61,500 resistance zone. The price is trading below $60,000 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support at $59,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might attempt a fresh increase if it stays above the $58,000 zone. Bitcoin Price Holds Support Bitcoin…

Eigenlayer Introduces Permissionless Token Support, Expanding Crypto Economic Security Options

Eigen Labs has announced an upcoming update to the Eigenlayer protocol, introducing Permissionless Token Support. This feature aims to broaden the range of ERC20 tokens that can be utilized as restakable assets, enhancing the crypto economic security of decentralized networks. Permissionless Token Support Is Coming to Eigenlayer Eigen Labs revealed it is set to release […] Source CryptoX Portal

Experts Watch Key Support Level As Price Hits 2-Year Low

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MATIC, Polygon’s native token, recently suffered a significant price decline amid a broader market downturn. The token dropped over 20% in the past month, reaching its lowest price level in two years. As the market recovers, some analysts have made a bullish case for the token but warned of a key level to watch. Related Reading MATIC Hits Two-Year Low Levels Over the past few months, MATIC has registered a steady decline from its one-year high of $1.27. Since July, the token’s price has retraced 20.5%, falling from the $0.55…

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…