Verified Company Solid ECN ✔️ Posted March 10, 2022 Verified Company Share Posted March 10, 2022 XRPUSD XRPUSD continues to trade within a long-term downward channel, but recently the price of the token has been consolidating around 0.7500 (center line of Bollinger Bands, Fibonacci retracement 61.8%). The key point for the "bears" is still 0.6836 (Murray [2/8], the lower line of Bollinger Bands), the breakdown of which will allow quotes to fall to the levels of 0.5859 (Murray [0/8]) and 0.5371 (Murray [-1/8]). If the central level of Murray's trading range is broken out, the price will rise to the levels of 0.8789 (Murray [6/8]), 0.9100 (50.0% Fibonacci retracement). Technical indicators don't provide a clear signal: Bollinger Bands are directed downwards, confirming the continuation of the downtrend, MACD is near the zero line, its volumes are insignificant; however, Stochastic is reversing upwards, which does not exclude the continuation of corrective growth. Resistance levels: 0.7812, 0.8789, 0.91. Support levels: 0.6836, 0.5859, 0.5371. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted March 11, 2022 Author Verified Company Share Posted March 11, 2022 Cryptocurrency Market Review This week, the cryptocurrency market attempted corrective growth, but now the decline has resumed, and most of the leading digital assets have lost a significant part of their previously won positions. Currently, BTC is trading around 39000.00 (–0.2%), ETH is at 2600.00 (–1.1%), USDT is around 1.0004 (+0.01%), BNB is around 370.00 (–3.9%), and USDC – at 0.9997 (–0.01%). By the end of the week, the total market capitalization reached 1.747T dollars, and the share of BTC was 42.41%. An attempt at a corrective rise in prices occurred against the backdrop of the signing by US President Joe Biden of a decree on coordinating efforts to regulate the cryptocurrency sector by federal agencies. Investors welcomed this document, as it could be the first step towards establishing clear rules for regulating digital assets in the United States, which businesses are waiting for. The document assumes the intensification of the work of departments in several directions: to protect consumers and investors, to ensure financial stability, to suppress illegal activities, to maintain US competitiveness on the world stage, and financial inclusion. The most important direction is to ensure the protection of crypto market participants. Also, the possibility of developing new supervision measures over the cryptocurrency market and creating means of protection against systemic risks, fraud, illegal financing, and so on is being considered. We also note that the decree orders to speed up the study of the possibility of repaying the digital dollar, which clearly expresses the concern of the US administration about China's success in this matter. China has been actively testing the digital yuan for a long time. It could even be used during the last Olympics in Beijing. The US Federal Reserve began studying the issue only last year, and the regulator has not yet decided whether it is worth launching a digital national currency at all. Although the market greeted the document positively, it also had critics. In particular, experts were not satisfied that the government does not bring any decisions to promote the development of new digital technologies. Later, the growth in quotations of digital assets was again replaced by a fall amid a likely tightening of supervision over the sector by the EU and US authorities. It was facilitated by the comments of the head of the US Securities and Exchange Commission (SEC), Gary Gensler. Shortly after the issuance of Joe Biden's decree, he said that the regulator would cooperate with other departments to implement the presidential directive but added that loyalty to cryptocurrencies would not interfere with seeking tougher supervision behind the industry. The EU authorities said that digital currencies are included in the category of securities, which means that they should be subject to economic sanctions imposed against Russia against the backdrop of a special military operation in Ukraine. In the meantime, US senators are proposing to require cryptocurrency exchanges to provide the personal information of customers who make transfers to private e-wallets to prevent the digital sector from circumventing sanctions. In general, instead of additional investments, which many market participants were counting on, the industry can learn more restrictions, which, in turn, is very alarming for investors and puts pressure on prices. In other news of the week, we note that the volume of ETH blocked in the Ethereum 2.0 network has exceeded 10M coins. Traders expect the new network to be launched soon, testing of which is entering the homestretch. Next week, users will evaluate the Kiln network, the latest version, before the final transition to the Proof-of-Stake (PoS) algorithm. Bloomberg reported this week that investment holding Goldman Sachs is considering providing clients with access to a new derivative — the so-called two-way cryptocurrency options, which allow holders of cryptocurrency assets to hedge their risks or increase profitability. Next week, quotes of most cryptocurrencies may consolidate or continue to decline. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted March 14, 2022 Author Verified Company Share Posted March 14, 2022 BTCUSD, the market is in a state of uncertainty Last week, the BTC/USD pair showed ambiguous dynamics: quotes rose to the 42600.00 area but have now fallen to the area of 37500.00. Two opposing trends persist in the market: Hopes for an influx of investment in the crypto sector against the backdrop of financial restrictions imposed on the Russian economy and fears that the fight against sanctions circumvention will cause tightening of regulation of the digital currency sphere the US and EU authorities. So far, probably, the second trend prevails. Experts point out that the interest of Russian investors in crypto assets is growing: the number of users on exchanges has increased by 2–3 times in March. Russians seek to preserve capital at a time of rising inflation and global uncertainty. Meanwhile, EU and US authorities are trying to prevent current sanctions from being circumvented by tightening controls on digital assets and classifying digital assets as securities. Today, the European Parliament will adopt a bill containing restrictions on cryptocurrencies based on the Proof-of-Work (PoW) algorithm. It is assumed that the trading of tokens in the EU will continue if they meet certain economic standards. However, the descriptions of the standards themselves are not yet available. Meanwhile, US authorities want to require cryptocurrency exchanges to provide personal information of customers who make transfers to private e-wallets to hinder the work of Russian users or block their accounts. So far, most of the largest companies in the digital sector have refused to restrict the access of Russians to the market, excluding those whose names are directly on the sanctions lists. However, further pressure on the cryptocurrency market may continue soon. Resistance levels: 39900, 42200, 43750. Support levels: 37500, 36000, 34375. solidecn.com ------------------------------------------------------------------------- instagram | facebook | twitter | linkedin Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted March 15, 2022 Author Verified Company Share Posted March 15, 2022 ETHUSD, the possibility of a decline in the token remains The market is under pressure due to the possible tightening of regulation by the authorities of the world's leading economies. As one of the creators of Ethereum, Joseph Lubin, noted, in the current geopolitical crisis, blockchain technology has become a weapon, and each of the parties is striving to learn how to use it in their interests. Indeed, on the one hand, the adoption of cryptocurrencies can accelerate, as it will become a matter of national security. On the other hand, the freedom of users and the activities of digital platforms can be seriously limited. Under pressure from the authorities, crypto exchanges have already begun to block the accounts of Russian citizens, even those not included in the sanctions lists. In response, there was a statement about the possibility of creating their cryptocurrency platforms in Russia. As for Ethereum itself, it is worth noting that the developers have launched the new Kiln test network, which is the last step before the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS). The test network will fully simulate this transition. The developers have recommended that all application creators conduct a full cycle of testing and deploying them on the Kiln network to avoid failures in the future. However, the approach of a full-fledged launch cannot yet support the price of ETH. Resistance levels: 2680, 2930, 3125. Support levels: 2500, 2350, 2187. solidecn.com ------------------------------------------------------------------------- instagram | facebook | twitter | linkedin Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted March 16, 2022 Author Verified Company Share Posted March 16, 2022 The XRPUSD pair is moving within a wide downward channel. This week, the price of the token moves within the range of 0.7812 - 0.7324, and is currently testing its upper limit. The consolidation above it allows growth to 0.83 and 0.8790. The breakdown of 0.7324 will allow the asset to fall to 0.6836, 0.6348, and 0.586. Resistance levels: 0.7812, 0.83, 0.879. Support levels: 0.7324, 0.6836, 0.6348, 0.5859. solidecn.com ------------------------------------------------------------------------- instagram | facebook | twitter | linkedin Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted March 23, 2022 Author Verified Company Share Posted March 23, 2022 XRPUSD, token growth amid positive court news The XRPUSD pair continues the upward trend of trading for the third week in a row within the framework of the general market trend and on the eve reached two-month highs around 0.8609. The strengthening of positions allowed the token to reach the sixth place in capitalization among the leading digital assets. The quotes continue to be supported by hopes that Ripple will win a lawsuit from the US Securities and Exchange Commission (SEC). The regulator accuses the management, Brad Garlinghouse and Chris Larsen, of selling 600M dollars worth of tokens to investors, and considers the coin itself a security that was issued and distributed bypassing American legislation. The SEC requires an injunction against further XRP sales, the return of all funds raised and the payment of fines. Lawyers point to the fact that a digital asset is not fundamentally different from other currencies, for example, ETH, which, according to a senior official of the regulator, William Hinman, is not a security, therefore, XRP should not be considered as one either. Currently, the SEC has requested a delay from the court to provide new materials, and observers see the weakness of the positions of American officials in this, increasing the likelihood of a Ripple victory. It should also be noted that despite the proceedings in the USA, the company's business continues to expand worldwide. Currently, 55 leading banks use its technologies for making cross-border payments, and recently cooperation was confirmed with the largest Canadian Imperial Commercial Bank in the country. Resistance levels: 0.85, 0.893, 0.928. Support levels: 0.781, 0.7325, 0.6836. solidecn.com ------------------------------------------------------------------------- instagram | facebook | twitter | linkedin 1 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted March 24, 2022 Author Verified Company Share Posted March 24, 2022 ADAUSD, technical analysis The growth of the ADAUSD pair continues for the second week in a row, adjusting to a long-term downward trend. Currently, the price has reached six-week highs around 1.1450. The key for the "bulls" is the 1.1718 mark. Its breakout will give the prospect of further growth to 1.285 and 1.465. In case of a breakdown of the 0.9765 level the decline may resume up to 0.781. In general, the potential for upward movement is still preserved, as evidenced by the upward reversal of the Bollinger Bands and the Stochastic, the MACD histogram increases in the positive zone, but the entry of the Stochastic into the overbought zone and the exit of the price chart beyond the upper Bollinger Band do not exclude the possibility of a decline. Resistance levels: 1.1718,1.2850, 1.4650. Support levels: 0.9765, 0.7810. solidecn.com ------------------------------------------------------------------------- instagram | facebook | twitter | linkedin Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted March 28, 2022 Author Verified Company Share Posted March 28, 2022 BTCUSD, the growth potential of "digital gold" remains All last week, the BTCUSD pair continued its upward trend and today reached the 47500 mark. The positions of "digital gold" are strengthening against the backdrop of the protracted Ukrainian crisis and the sanctions war, which is an additional incentive for the growth of global inflation and the depreciation of fiat currencies. An additional driver of growth was the statement of representatives of the Russian authorities about the possibility of trading energy for cryptocurrency, which can lead to serious investments in the sector. No official decision has been made on this, but it is being worked out. Earlier it was reported that digital assets can become a base for payments for ordinary goods supplied, for example, from Turkey. Perhaps in the near future, access to the digital market will be facilitated for ordinary Russians, at least the chairman of the Russian government Mikhail Mishustin stated the need to integrate the mechanism of turnover of digital currencies into the financial system of the country. A number of experts believe that the short-term support for the market is also provided by the acquisition of 1.1B dollars worth of BTC by Luna Foundation Guard (LFG) to ensure the stability of the UST stablecoin. Nevertheless, it cannot be ruled out that the entry of large Russian assets into the digital market will be able to meet obstacles from US and EU regulators, since they are not interested in circumventing the imposed economic restrictions. Thus, the US Congress continues to discuss a law allowing the National Ministry of Finance to block transactions of cryptocurrency exchanges from the addresses of persons included in the sanctions lists. US Treasury Secretary Janet Yellen once again confirmed that cryptocurrencies can pose a threat to financial stability and be an instrument of illegal activity, even though they occupy an increasing place in investment activities. Support and resistance Technically, the price is testing the resistance zone 46300 - 46875. Consolidating above it will give the prospect of growth in the area of 50000. In case of a breakdown of the 43750 mark, the beginning of a decline to the levels of 42000 and 37500 is not excluded. The indicators point out the continuation of the upward trend: the Bollinger Bands are directed upwards, the MACD histogram is increasing in the positive zone, and the Stochastic is horizontal in the overbought zone. Resistance levels: 46875, 50000. Support levels: 43750, 41000, 37500. solidecn.com ------------------------------------------------------------------------- instagram | facebook | twitter | linkedin Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted March 29, 2022 Author Verified Company Share Posted March 29, 2022 ETHUSD, technical analysis The ETHUSD pair continues to grow actively, correcting upwards in relation to the mid-term downward trend. This week, the price of the cryptocurrency reached the level of 3437.5, which it is currently testing. Consolidation above it will give the prospect of further upward dynamics to the 3600 and 3900. The key level for the "bears" is 3125, the breakdown of which will allow quotes to fall to the area of 2920.00 (Fibo retracement of 23.6%, the middle line of Bollinger Bands) and 2500, but so far this option of price movement seems less likely, since the indicators point out the continuation of the upward trend: the Bollinger Bands and the Stochastic are directed upwards, and the MACD histogram increases in the positive zone. Resistance levels: 3437, 3600, 3900. Support levels: 3125, 2920, 2500. solidecn.com ------------------------------------------------------------------------- instagram | facebook | twitter | linkedin Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted March 30, 2022 Author Verified Company Share Posted March 30, 2022 XRPUSD, correction within the uptrend At the beginning of the week, the XRP/USD pair continued to grow and rose to the 0.9130 area, after which it corrected downwards. However, the general upward trend persists. According to several experts, the token could be under pressure due to a new initiative of Chris Larsen, one of the leaders of Ripple. He supported Greenpeace and several other organizations' "Change the Code, Not the Climate" campaign to use greener algorithms instead of Proof-of-Work with 5M dollars. However, the idea was received strongly negatively in the cryptocurrency world, and Larsen was accused of hypocrisy and even promoting the interests of his currency, XRP. Market participants questioned the motives of the creator of Ripple, noting his indifference to environmental issues during his company's use of environmentally harmful technologies in the past. Also, the very attempt to put pressure on the 50 leading market participants seems dangerous to crypto enthusiasts since they advocate maximum decentralization. As for the litigation between Ripple and the US Securities and Exchange Commission (SEC), there has been some lull here as the court awaits responses from the digital company to new regulator charges that must be filed before April 8. On the daily chart, there is a formation of successive Doji candlestick analysis patterns below 0.8479, which indicate uncertainty in the market and signal a likely downward reversal. A confirming signal to sell is the formed Shooting star model, which formed under the resistance level of 0.9131. The long shadow of this candle emphasizes the exhaustion of the "bulls" and the activation of sellers at the current level. At the moment, the asset may test the support level of 0.7831. If it is broken by the "bears," the price will continue its downward movement to 0.6961–0.4193. An alternative scenario can be implemented if the quotes consolidate above 0.9131. Resistance levels: 0.9131, 1.0157, 1.1346, 1.2814 | Support levels: 0.7831, 0.6961, 0.5887, 0.4193 solidecn.com ------------------------------------------------------------------------- instagram | facebook | twitter | linkedin Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted March 31, 2022 Author Verified Company Share Posted March 31, 2022 The ADAUSD pair continues to correct upwards in relation to the long-term uptrend. Currently, the price is testing the 1.2207 mark, consolidation above which will give the prospect of further growth to the levels of 1.2950 (Fibo retracement of 23.6%) and 1.4100. The key for the "bears" is seen at 1.1230. In case of its breakdown, a correction to 1.0253 is possible and 0.9765, however, so far this option of price movement seems less likely, since the potential for upward movement remains, which is confirmed by technical indicators. The Bollinger Bands are directed upwards, the MACD histogram increases in the positive zone, and the Stochastic leaves the overbought zone, which does not exclude a decline within the current upward trend, but its potential seems limited. Resistance levels: 1.2207,1.295, 1.41 | Support levels: 1.1230, 1.0253, 0.9765 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted April 1, 2022 Author Verified Company Share Posted April 1, 2022 Cryptocurrency market review The cryptocurrency market started the week with an attempt to grow but then moved to a decline and lost all the gained positions. BTC is currently trading around 44500.00 (–3.4%), ETH is at 3200.00 (+0.9%), USDT is around 1.0003 (–0.01%), BNB is at 420.00 (–2.5%), while USDC is around 0.9998 (+0.02%). The total capitalization has decreased to 2.066T dollars, and the share of BTC has fallen to 41.3%. The struggle between two trends continues in the market: hopes for an influx of investments in the sector due to global financial instability and fears of the introduction of tougher regulation of the cryptocurrency market by the US and the EU. The sector's growth at the beginning of the week is associated with the withdrawal of investors into digital assets amid a significant increase in inflation and the depreciation of fiat currencies. Also, the market was hoping for significant investments after hints from the Russian authorities that goods produced in Russia, including energy, could be sold for cryptocurrencies. Currently, such a mechanism is being worked out at the highest level. Turkey may become the first country with which trade will be carried out based on cryptocurrencies. Several experts believe that the Luna Foundation Guard (LFG) acquisition of BTC in the amount of 1.1B dollars to ensure the stability of the UST stablecoin also provides short-term support to the market. Despite the general enthusiasm of investors, by the middle of the week, the market began to correct, which continues to this day. The EU and the US authorities are still very wary of the continued adoption of cryptocurrencies in society and are constantly reminded of this, calling for the development of clear regulations for the digital asset market. This week, the European Systemic Risk Board (ESRB) warned that cryptocurrencies in general and stablecoins, in particular, pose a threat to European financial stability that needs to be countered with the necessary regulatory action. Earlier, US Treasury Secretary Janet Yellen spoke in a similar vein, stating that cryptocurrencies can be an instrument for illegal activities, although they occupy an increasing place in the investment activities of US citizens. Currently, the European Parliament is preparing amendments to the rules on combating money laundering (AML), which provide for the abolition of anonymity for any cryptocurrency transaction. The means to ensure this requirement has not yet been established, and the European Central Bank (ECB) has spoken out against such a decision. Previously, crypto-currency companies were only required to identify the transaction recipient of over 1,000 euros. Among other market news, it is worth highlighting the scandal in the cryptocurrency community caused by the initiatives of several environmental organizations. So, Greenpeace, together with other environmentalists, launched an information campaign called "Change the code, not the climate" to pressure the BTC community to move from the Proof-of-Work algorithm to a greener one. The campaign was supported by one of the leaders of Ripple, Chris Larsen, who allocated $5M for its implementation. The crypto community reacted negatively to this initiative and accused Larsen of hypocrisy and promoting the interests of his currency (XRP). Experts say that while he was earning his millions using environmentally harmful technologies, he was not interested in ecology. Also, the very attempt to put pressure on the fifty leading digital companies (mining, crypto-exchanges, and so on) seems to the cryptocurrency community a dangerous attempt by third parties to dictate their will to independent digital asset enthusiasts. Next week, quotes of most cryptocurrencies may continue to decline or consolidate. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted April 4, 2022 Author Verified Company Share Posted April 4, 2022 BTCUSD, "digital gold" is preparing to continue its growth After unsuccessful attempts to break the support level of 35800.00 in January-February of this year, the first cryptocurrency strengthened its position and reached the area of 45000, preparing to continue the upward momentum in the mid-term. The quotes of "digital gold" are supported by the growing geopolitical tensions, which has already caused an increase in energy prices and, as a result, acted as a catalyst for global inflation. In the USA in February the figure was the highest in 40 years of observations of 7.9% in annual terms, and in the eurozone the value reached 7.5%. To protect themselves from risks, large investors direct their capital into alternative means of savings, and bitcoin is one of the most preferred tools for long-term investments at the moment. The long-term uptrend in the BTCUSD pair is confirmed by technical analysis. Last month, market participants gained a foothold above the level of 45000, and the next target is the mark of 52000. The nearest support level from which new purchases can be considered is at the level of 44000. The mid-term trend is also upward. Last week, the resistance level of 45800.00 was broken, but then the price adjusted to the area of 44400. A new upward momentum has started from this level, the purpose of which is to update the high of last week and test the resistance level of 48500. Long positions should be considered with a target at 44,400 - 42,400. Resistance levels: 48500, 52000, 58800 | Support levels: 44000, 42400, 37600 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted April 5, 2022 Author Verified Company Share Posted April 5, 2022 ETHUSD, Murray analysis The ETHUSD pair has been actively adding in value since the middle of last month, correcting upwards in relation to the mid-term downward trend. Earlier, the price of the crypto asset tested the mark of 3593.75 (Murray [7/8], Fibo retracement 50.0%), consolidation above which will give the prospect of further growth to the levels of 3750.00 (Murray [8/8]), 3900.00 (Murray [+1/8], Fibo retracement 61.8%). The key for the "bears" seems to be the level of 3280.00 (Murray [5/8], Fibo retracement 38.2%). In case of its breakdown, correction to 2965.00 (Murray [3/8], Fibo retracement 23.6%), 2812.50 (Murray [2/8]) is not excluded, however, so far this option of price movement seems less likely, since technical indicators point out the continuation of the current trend: the Bollinger Bands are directed upwards, the MACD histogram is increasing in the positive zone, the Stochastic has entered the overbought zone, but is also directed upwards. Resistance levels: 3593.75, 3750, 3900 | Support levels: 3280, 2965, 2812.5. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted April 6, 2022 Author Verified Company Share Posted April 6, 2022 XRPUSD, Murray analysis Last week, the XRP/USD pair tested the upper limit of the descending channel, rising to the area of 0.8930 (Fibo retracement of 38.2%), but then began to decline and today tested the 0.7812 mark (Murray [4/8], Fibo retracement of 23.6%). If consolidated below it, the price will continue to decline along the upper border of the descending channel to the levels of 0.7324 (Murray [3/8]) and 0.6836 (Murray [2/8]). The key for the "bulls" is the resistance zone 0.8930-0.8789 (Fibo retracement 38.2%, Murray [6/8]). Its breakdown will be able to cause further growth to the levels of 0.9800 (Fibo retracement of 50.0%, Murray [8/8]), 1.0254 (Murray [+1/8]). Technical indicators do not give a single signal: the Bollinger Bands are horizontal, the Stochastic is reversing downwards, the MACD histogram is shrinking in the positive zone. In general, the resumption of the decline within the long-term downward trend in the near future seems more likely. Resistance levels: 0.893, 0.98, 1.0254 | Support levels: 0.7812, 0.7324, 0.6836 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted April 7, 2022 Author Verified Company Share Posted April 7, 2022 The pressure on the cryptocurrency sector is associated with the expected sharp tightening of monetary policy by the US Federal Reserve, which will lead to the strengthening of the dollar against major alternative assets. The minutes of the last meeting of the American regulator, published yesterday, confirmed that officials intend to start reducing the balance sheet by 95B dollars a month from May while increasing interest rates by 0.50% is allowed. The "hawkish" policy is expected to continue until the end of this year. A well-known crypto enthusiast and founder of Galaxy Digital, Mike Novogratz, believes that during this period, BTC, and therefore altcoins in general, may remain under pressure but as soon as the US Federal Reserve pauses in tightening monetary policy, a serious increase in cryptocurrencies will resume. Cardano blockchain and ecosystem continue to develop actively. Since the beginning of the year, the number of active wallets has increased by 500K and exceeded 3.2M. Most of them contain ADA tokens in 100 to 100K dollars. This week, Da Vinci Locker (DVL), a new cross-chain NFT marketplace based on the Cardano blockchain, was launched. The main goal is that any owner of a unique intellectual product can turn it into an NFT token and sell it without intermediaries. DVL will use Cardano's version of OpenSea smart contracts. The marketplace is currently distributing DVL utility tokens. Despite this positive news, the fundamental picture remains unfavorable for the market, and the ADA price is under pressure. The price is testing 1.0742 (Murrey [6/8]), consolidation below which allows a decline to 0.9765 (Murrey [4/8]) and 0.8789 (Murrey [5/8]). The key "bullish" level is (Murrey [8/8]). The consolidation above may cause growth to 1.2950 (Fibonacci correction 23.6%). The indicators do not give a single signal: Bollinger bands are directed upwards, the MACD histogram decreases in the positive zone, and Stochastic has rushed down. Resistance levels: 1.1718, 1.295 | Support levels: 1.0742, 0.9765, 0.8789 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted April 8, 2022 Author Verified Company Share Posted April 8, 2022 Cryptocurrency Market Review This week, the cryptocurrency market has corrected downwards. BTC is currently trading around 43500.00 (–6.5%), ETH is at 3250.00 (–8.0%), USDT is around 1.0002 (+0.01%), BNB is at 435.00 (–4.1%). %), and USDC is around 0.9999 (+0.01%). The total market capitalization has decreased to 2.025T dollars, and the share of BTC in it has decreased to 40.98%. The correction was associated with the expected sharp tightening of the US Federal Reserve's monetary policy, which could strengthen the US currency against alternative assets, including digital instruments. Published this week, the minutes of the last meeting of the US Federal Open Market Committee (FOMC) said that from May, officials intend to begin reducing the balance sheet by $95B a month while allowing an increase in interest rate growth by 0.50%. It is expected that an aggressive monetary policy will continue at least until the end of this year. Bloomberg L.P. analysts noted another danger of the current situation. In their opinion, the tightening of monetary policy may put pressure on the stock market, which will pull the markets for raw materials and cryptocurrencies in the event of a collapse. Mike Novogratz, a well-known crypto enthusiast and founder of Galaxy Digital, believes that while the US Federal Reserve raises rates, BTC and altcoins may remain under pressure. Still, serious cryptocurrency growth will resume as soon as the regulator pauses in tightening monetary policy and the economic situation stabilizes. Representatives of large financial institutions have made several comments and initiatives. On Monday, UK Chancellor of the Exchequer, John Glen, announced that the government would develop legislation to regulate the use of stablecoins for electronic payments. These cryptocurrencies will be included in the legal space, and the Bank of England will take care of their regulation. The officials will also consider the potential of using blockchain to create British government bonds or securities. Glen noted that the authorities see great potential for digital assets, while the head of the Bank of England, Andrew Bailey, is of the opposite opinion. He spoke about the growing use of cryptocurrencies for criminal purposes and called on technology companies to work more actively with the regulator to eliminate the possibility of fraud and illegal activities. The head of the US Securities and Exchange Commission (SEC), Gary Gensler, once again called for closer cooperation with the US Commodity Futures Trading Commission (CFTC), which will regulate and control the platforms on which securities and any other assets are traded, in including cryptocurrencies, the status of which has not yet been fully determined. Meanwhile, Meta Platforms Inc. discusses the possibility of launching a cryptocurrency within its metaverse. Creating an internal digital currency operating in various applications is being considered. Also, the social network will be able to reward active participants or the most popular authors with it. American cryptocurrency exchange Coinbase has entered the Indian market. Representatives of the company said that the citizens of India show a serious interest in cryptocurrencies and a desire to use new products, which makes this market promising, despite the country's strict legislation. Also, this week, the Da Vinci Locker (DVL) cross-chain NFT trading platform, created based on the Cardano blockchain, was launched. Its main goal is that any owner of a unique intellectual product can turn it into an NFT token and sell it without intermediaries. DVL will use Cardano's version of OpenSea smart contracts. Next week, quotes of most cryptocurrencies may continue to decline or consolidate. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted April 11, 2022 Author Verified Company Share Posted April 11, 2022 The BTCUSD pair was actively declining last week and by its end reached the 42200 mark (Fibo retracement 23.6%), which it is actively testing at the moment. The general pressure on the cryptocurrency sector was exerted by the comments of US Fed officials, indicating an acceleration of monetary policy tightening. In particular, a sharper increase in rates is expected (by 0.50%) and a rapid reduction in the regulator's balance sheet (by 95B dollars monthly). These measures are aimed at reducing the rate of inflation and should support the exchange rate of the US currency. A number of experts, for example, Galaxy Digital founder Michael Novogratz, believe that the cryptocurrency sector will be under pressure for the entire period of active actions of the US Fed, at least until the end of the year, but as soon as the economic situation stabilizes, we can expect a new serious growth of digital assets. An additional pressure factor was the ban on the provision of cryptocurrency services to individuals and legal entities from Russia and Belarus, including deposits and maintenance of cryptocurrency wallets. Earlier, experts believed that economic sanctions caused by the Ukrainian crisis would force large Russian capital to enter the crypto market, but there are fewer opportunities for this. Technically, if the price is consolidated below the 42200 mark (Fibo retracement of 23.6%), the decline in the digital asset will be able to continue to the levels of 40000, 37500 (Murray [4/8]). The key for the "bulls" is the level of 43750 (Murray [6/8]). Its breakout will give the prospect of resuming growth in the area of 46300 (Fibo retracement of 38.2%), 48200 (the area of March highs). Technical indicators do not give a single signal: the Bollinger Bands are directed horizontally, the MACD histogram is preparing to move into the negative zone and form a sell signal, but the Stochastic can leave the oversold zone and form a buy signal. Resistance levels: 43750, 46300, 48200 | Support levels: 42200, 40000, 37500 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted April 12, 2022 Author Verified Company Share Posted April 12, 2022 The ETHUSD pair started the week lower as part of the general market trend and fell below 3000. Experts continue to link the general weakening of the market with investors' reaction to the upcoming serious tightening of the US Federal Reserve's monetary policy. Investors fear that the US economy will react with a slowdown to a sharp increase in interest rates or even start a recession. Yesterday, in this background, the yield of 10-year bonds reached a three-year high of around 2.78%, which led to a decrease in risky assets, including cryptocurrencies. According to several representatives of the cryptocurrency community, the digital asset sector will remain under pressure as long as the regulator continues to tighten monetary policy, which may take a long time. However, after stabilizing the economic situation, serious growth will resume. As for Ethereum itself, the developers continue to prepare for the transition to the Proof-of-Stake (PoS) algorithm and the launch of the Ethereum 2.0 network. On Monday, the developers tested the merger of the two networks, the so-called "shadow fork," which was successful but had several minor problems. The next stage of the test is scheduled for April 22. After it, the developers will probably be able to determine the launch date of the Ethereum 2.0 network more accurately, as one of the leading experts, Tim Beiko, hinted at. Ethereum founder Vitalik Buterin previously assumed that the transition to the new system would take place before July of this year. Technically the price is trading around 2950 (Murrey [6/8], Fibonacci retracement 23.6%). Consolidation below this level allows a decline to 2656.75 (Murrey [1/8]) and 2500.00 (Murrey [0/8]). The key "bullish" level is 3281.25 (Murrey [5/8], Fibonacci retracement 38.2%, the middle line of Bollinger bands). Its breakdown allows growth to 3595 (Murrey [7/8], Fibonacci correction 50.0%), 3900.00 (Murrey [+1/8], Fibonacci correction 61.8%). The indicators do not give a single signal: Bollinger bands and Stochastic are horizontal, and the MACD histogram is preparing to move into the negative zone and form a sell signal. Resistance levels: 3281.25, 3595, 3900 | Support levels: 2950, 2656.75, 2500 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted April 13, 2022 Author Verified Company Share Posted April 13, 2022 Ripple continues to trade within a wide descending channel. At the end of last month, quotes tested its upper limit around 0.8930, after which they began to decline, which continues to this day. The day before, the price tested the level of 0.6836 (Murray [2/8]), fixing below which will give the prospect of further decline to the levels of 0.6348 (Murray [1/8]), 0.5859 (Murray [0/8]) and 0.5371 (Murray [-1/8]). The key level for the "bulls" is seen at 0.7810 (Murray [4/8], Fibonacci retracement 23.6%). If this level is broken out, as well as the center line of Bollinger Bands, the quotes may try to leave the descending channel and return to 0.8930 (Fibonacci retracement 38.2%). Technical indicators don't provide a clear signal: Bollinger Bands are reversing downwards, MACD is increasing in the negative zone, and Stochastic has entered the oversold zone, which does not exclude the corrective growth. In general, a continuation of the decline in the long-term downtrend in the near future seems more likely. Resistance levels: 0.7810, 0.8930, 0.9277 | Support levels: 0.6836, 0.6348, 0.5859, 0.5371. Link to comment Share on other sites More sharing options...
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