ORN analysis:
The price has been consistently rejected at the resistance area and is currently moving downward. It's best to avoid trading in this zone and wait for a stronger setup. A break above the resistance area would indicate a bullish trend. Let's observe the price action in the upcoming days. If you decide to trade within the range, be sure to use a tight stop loss.
Support Area: $1.26-$1.33
Resistance Area: $1.76-$1.87
LTC analysis:
Price is currently attempting to hold the support area. LTC must close the daily candle above the support area, or we may witness a heavy sell-off. You can consider opening a small long position at the support area with a tight stop loss below the $70 level.
Support Area: $73-$75
Resistance Area: $82-$83.5
Bitcoin has broken below the support level and is currently retesting it. The price needs to reclaim the $65,000 level to gain some strength. There may be some sideways movement over the weekend.
Читать полностью…Educational Post
What Is a Hard Landing?
In economic terms, a hard landing refers to a situation where an economy rapidly transitions from growth to slow growth or recession. Unlike a soft landing, where the economy moderates and gradually slows down, a hard landing is a sharper, more abrupt change that can cause widespread economic challenges.
Imagine an aircraft descending too quickly and hitting the runway with a jolt - this aptly represents a hard landing scenario in the economy. Much like the passengers in that plane feeling discomfort, the citizens in a country facing a hard landing also experience upheaval as they endure declining markets and potential job losses.
Why Is a Hard Landing Concerning?
Hard landings are cause for concern due to the sharp changes it brings to an economy. Businesses may close, unemployment can rise, and investment can sharply decrease due to the economic contraction. Left uncontrolled, a hard landing can result in a severe recession or even a depression, causing prolonged periods of economic distress.
The Role of Central Banks in Managing a Landing
Central banks play an instrumental role in navigating an economy heading for a hard landing. During economic boom cycles, central banks ideally aim to steer towards a soft landing by controlling inflation. However, if they mishandle the process by raising interest rates too high or too quickly, the economy could swing rapidly into a state of contraction, hitting a hard landing.
The Difficulty in Avoiding Hard Landings
Avoiding a hard landing is no easy task, as it involves the careful interplay of various macroeconomic factors and sound policy-making decisions. Rise and fall are parts of every economy's life cycle. Yet, successful moderation of these cycles to prevent hard landings often requires a timely response, accurate predictions, and appropriate policy interventions.
SOL breaks the triangle in the downward direction and continues the downtrend. The price is testing the support area and needs to hold this level.
Support Area: $125-$130
Bitcoin is currently testing a key support area and it needs to hold this level. If the support is broken, it may lead to further selling in the market, potentially pushing the price down towards the $60,000 level. It is advised to maintain tight stop-loss orders in all open positions.
Читать полностью…NEO dropped to the support area and immediately bounced back up. If you purchased NEO at the support area, raising your stop loss and maintaining the trade is advisable. We might witness a test of the resistance area in the upcoming days.
Читать полностью…Bitcoin is holding strong at the support area and has bounced back. This is a promising sign, and we could see a move towards the $67,000 mark soon.
Читать полностью…There is very low liquidity on the downside and major of the liquidity is sitting around $70,000 level.
Читать полностью…As expected, CKB has dropped to the support area and bounced from there. If you have opened a long position at the support area, you should increase your stop loss to breakeven and hold. We may see a bounce from here towards the resistance area.
Читать полностью…Educational Post
What Is Chain Abstraction?
Chain abstraction is NEAR’s idea of simplifying how users interact with blockchain technology by separating it from the user experience (UX). The goal is that users should not be aware of the specific blockchain they are interacting with or even realize that they are using a blockchain.
How Does Chain Abstraction Work?
Efficiency
Imagine if you could only send messages from an iPhone to another iPhone but not to Android phones. That would be inefficient and impractical. Similarly, users should be able to interact with decentralized applications (DApps) across different blockchains without unnecessary hurdles.
The goal of chain abstraction is to remove or hide the complexities of blockchain technology, allowing users to focus on the functionality and benefits of the DApps they use. For instance, if Sarah wants to use a new DApp called XYZ, she should not have to worry about which blockchain it is built on. From a user perspective, she just wants it to work well and fulfill its purpose.
Similarly, millions of people use the internet every day, but only a smaller percentage understand the technology behind it and how it works. As long as it works as intended and adds value to users, there is no reason for the average user to fully grasp its technical details.
Transactions
Imagine using a DApp that allows you to easily transact across multiple networks and navigate different services. For instance, imagine that Sarah opens the XYZ app on her phone, orders a coffee, and sees a discount for her favorite clothing store. She buys a pair of shoes, earning rewards that are stored as non-fungible tokens (NFTs) on Ethereum. Later, she notices a special offer tied to her reward and buys tickets to an event, which are also NFTs, but on BNB Smart Chain (BSC).
All these transactions could happen in a single app, removing the need for Sarah to manage multiple wallets, switch networks, or directly handle transaction fees. This level of cross-chain interaction is the ultimate goal of chain abstraction.
Bitcoin has once again dropped to the support area and is currently holding this level. The testing of the support area is positive, and we may anticipate some sideways movement around the support area. This could potentially represent the final dip before the next significant movement.
Читать полностью…JUP tested the support area and is now bouncing from there. If you have opened long positions, increase your stop loss below the support area. We may see a move towards the resistance area in the coming days.
Resistance Area: $1.14-$1.23
AGIX analysis:
Price is currently testing the major support area. There might be accumulation at the support area before the next move, so consider opening a long position with a tight stop loss.
Support Area: $0.60-$0.65
Resistance Area: $0.756-$0.80
Educational Post
What is Block Header?
The block header is a section in a block that serves as a summary of the rest of the block. It’s made up of all the metadata – such as the time and difficulty when the block was mined, the Merkle root of the included transactions, and the nonce. Also present is the previous block’s hash, which is what allows us to create the “chain” of blocks. In essence, the block header contains any data that isn’t the list of raw transactions itself.
A block header is what the miners hash to try and make the block valid. This is a lot more efficient than hashing the entirety of the block, which can be made up of thousands of transactions. It would be vastly more cumbersome for a miner to change the nonce and to rehash a whole 2MB block for every attempt. Compare this with hashing Bitcoin’s block headers, for instance, which have a fixed length of 80 bytes.
Block headers are great from a mining point of view, but because of their small size, they’re also ideal for light clients. The Bitcoin blockchain is too large for devices like smartphones to store. If the chain had 100,000 1MB blocks, you’d consume 100GB of space. But with just the block headers for those same blocks, you’d only take up 0.008GB, or 8MB.
In this way, devices with less bandwidth or storage space can still perform some degree of validation. Because the Merkle root encapsulates all of the transactions, they can later check whether a transaction was included in a particular block. This does come at a cost – the user must still rely on a third party to provide them with necessary information. With that said, light clients are preferable to a system where the users perform no verification at all.
MATIC tested the higher time frame support zone and extracted liquidity from there. If the price drops again to the higher time frame support zone, consider acquiring some MATIC for the long term.
Major Support Area: $0.50-$0.532
KLAY analysis:
Price is trading near the support area, indicating potential for sideways movement. Placing buy orders in the support area and waiting is advisable.
Support Area: $0.15-$0.155
Resistance Area: $0.192-$0.203
Since the launch of Bitcoin spot ETFs six months ago, the crypto market has experienced significant growth. Futures, options, and exchange volumes have all surged by approximately 80% on a 6-month moving average. 📈✨
The introduction of these ETFs has undeniably fueled increased trading activity and market engagement.
ETH attempted to break above the resistance area but was rejected. Another resistance area test is possible, and we will observe how the price reacts.
Support Area: $3300-$3360
Resistance Area: $3640-$3700
HBAR analysis:
Price broke below the major support area and is now slowly declining. A test of the lower support area may be imminent, presenting a zone for new entries. It's advisable to wait for some time before making new entries.
Support Area: $0.0667-$0.070
Resistance Area: $0.0937-$0.101
MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per Bitcoin. As of 6/20/24, $MSTR hodls 226,331 BTC acquired for ~$8.33B at average price of $36,798 per bitcoin.
Читать полностью…VANRY bounced from the support area as expected. If you have opened a long position, increase your stop loss to the breakeven point. The support and resistance levels remain the same.
Читать полностью…CAKE analysis:
The price has broken through a significant support area and is currently testing it again. If the price is unable to reclaim this level, we may see a move towards the next support area. It's advisable to wait for some time if you are planning to open new long positions.
Support Area: $1.76-$1.94
Resistance Area: $2.37-$2.54
After the Bitcoin halving in 2020 After the 2020 Bitcoin halving, the price of BTC remained stagnant for 150 days, ranging between $9,000 and $11,000. Currently, 60 days after the halving, many people are feeling deeply pessimistic about the price movement.
Читать полностью…Bitcoin has just dropped below a crucial support level, triggering the liquidation of over-leveraged positions. However, the price is rebounding from this support area. Bitcoin's stability relies on it maintaining this support level. If it falls below $64,500, it could decline towards the $59,000-$60,000 range.
Читать полностью…The altcoin market cap (TOTAL2) has broken below the support trendline, and we may see a test of the major support area before the next move. You can continue accumulating your favourite altcoins during this dip. We may also see some sideways movement before the next significant move.
Читать полностью…CKB is unable to break above the resistance area, and the price is now heading towards the support area. This is a no-trade zone, and waiting for a test of the support area for new entries is better.
Читать полностью…Bitcoin is moving sideways as expected. Some action may occur when global markets open. The first resistance is $67,000; a break above this will open the gates to the $69,000-$70,000 level.
Читать полностью…