State of the DAOs [main weekly news inside] – May 23rd
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submitted by /u/TheKrips [link] [comments]
During the recent weekend, Avalanche (AVAX) witnessed a significant surge in selling pressure, resulting in a bearish breakout. As a consequence, the price of AVAX dipped close to a multi-month low of $13.8. However, on the 24-hour chart, the altcoin displayed a slight upward movement, showing some appreciation. On the other hand, the weekly chart depicted lacklustre performance for AVAX. The technical outlook for Avalanche remains bearish, as both demand and accumulation levels have remained low. The price action of AVAX has been influenced by the undecided nature of Bitcoin (BTC), which recently re-entered the $27,000 range. Related Reading: XRP Aims For $0.50, Hinges on Breaking Through This Price Level This has caused other altcoins, including AVAX, to exhibit uncertainty on their respective charts. The overhead resistance level for AVAX holds significant importance, as surpassing this level could trigger a rally for the altcoin. Conversely, if sellers exert further pressure, AVAX may break its consolidation and fall below its immediate support level, thereby strengthening the bearish sentiment. Broader market strength is necessary for AVAX to reclaim its overhead ceiling. The decline in the market capitalization of AVAX indicates a decrease in buying strength at the current time. Avalanche Price Analysis: One-Day Chart At the time of writing, AVAX was priced at $14.70. It is currently trading in close proximity to its immediate resistance level of $15. A breakthrough above $15 has the potential to propel the altcoin towards $15.80 and ultimately $16. The involvement of buyers in the market is crucial to generate demand and facilitate AVAX’s upward price movement. On the downside, if AVAX fails to sustain its current price level, it may find support at $14 before potentially trading below that level. The recent trading session showed a decline in the amount of AVAX traded, indicating the dominance of sellers in the market. Technical Analysis Throughout May and part of April, AVAX experienced consistently low buying pressure, reflecting a limited demand for the altcoin. The Relative Strength Index (RSI) was below the 40-mark, indicating that sellers had a greater presence than buyers at the time of writing. Furthermore, the AVAX price fell below the 20-Simple Moving Average (20-SMA) line, demonstrating that sellers were the driving force behind the price momentum in the market. A significant move above the $15 price level would help AVAX surpass the 20-SMA line, suggesting a potential shift in momentum and possibly attracting more buying interest. Although AVAX recently returned to the $14 price zone, there are no clear indications of buying strength according to technical indicators. The Moving Average Convergence Divergence (MACD), provides insights into price momentum. It formed only one green histogram, which does not necessarily signify buy signals at this point. Related Reading: Litecoin Surpasses $90, But This Level Remains Crucial For The Altcoin The Bollinger Bands, which reflect price volatility and fluctuations, have remained wide, indicating that the possibility of price fluctuations cannot be ruled out in the upcoming trading sessions. Featured Image From UnSplash, Charts From TradingView.com
Feels like there will always be continued dilution of market caps as more and more chains are developed and evolve with each one adding new layers of privacy, etc, and pulling market cap from each other. Never been called a BTC maxi, but that is really what I’m starting to feel like. I see the…
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A few obvious points from the get go- Just about any type of money can be used for criminals and gangs. If one wants you can literally deal in tons cash bills and smuggle that around, though that obviously has ita risks. I guess one of the unique aspects of crypto is that you can…
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The cryptocurrency exchange filed a petition for rulemaking with the SEC in July and was served a Wells notice for potential violations of securities law in March.
Hi, My goal is to generate Ethereum Private + Public key fully offline. (caveman style) Context : i will be doing this in a new device that will never connect to the internet… ever. Looking forward to hear your ideas 🙂 PS : if you want to answer with one of theses phrases, just don't.…
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“The funding will support our efforts to continue building AI products that people can rely on,” developers wrote.
Reddit Collectible Avatars x Raving Rabbids confirmed Reddit Collectible Avatars x Raving Rabbids was just confirmed on the polygon blockchain. Reddit has deployed a few contracts. Inside them, we can find a lot of references to Raving Rabbids, with a few images released as well. Here is the most likely collection image: Reddit Avatars x…
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The Cardano price has consistently remained below the $0.38 zone for the past two weeks, indicating a strong presence of sellers in the market. Despite attempts by buyers to regain strength over the past month, their efforts have been feeble, unable to overcome the bearish sentiment. This persistent bearish price action has resulted in a notable breach of the crucial demand and support zone between $0.37 and $0.38.Over the last 24 hours, ADA has made a slight upward movement on its chart, but the progress has been limited. Similarly, on the weekly chart, ADA has not shown significant advancement. The technical outlook for ADA reflects bearish pressure and a lack of buying strength. Related Reading: Litecoin Surpasses $90, But This Level Remains Crucial For The Altcoin Demand and accumulation remain low as a consequence. Many altcoins have indicated minor price increases, with Bitcoin returning to the $27,000 price. ADA must maintain trading above its immediate support line to break out of its current narrow trading range. If ADA surpasses its overhead resistance, the altcoin could potentially experience a substantial rally in the following trading sessions. The decrease in ADA’s market capitalization suggests an increase in sellers outweighing buyers in the market. Cardano Price Analysis: One-Day Chart At the time of writing, the price of ADA was $0.37. The altcoin is currently experiencing tight price movement within a highly constricted range. Additionally, ADA is approaching a critical support level at $0.36. On the upside, there is an overhead resistance at $0.38. A successful breakthrough above this level could drive ADA’s price toward $0.40. However, if the price fails to sustain its current level, it could drop below $0.36. This would lead to a trading range near $0.34. The recent session showed a decrease in the amount of ADA traded, indicating a slow buying strength. Technical Analysis Throughout this month, ADA has struggled to generate substantial buying strength due to low demand. The Relative Strength Index (RSI) currently sits below the midpoint, signaling that selling pressure has prevailed in the market. Furthermore, the altcoin price has recently dropped below the 20-Simple Moving Average (20-SMA) line, indicating that sellers have been driving the price momentum. For ADA to experience a breakout, the price would need to attempt to rise above the 20-SMA line. While other technical indicators may not signal ADA bullishness, the one-day chart reveals some buy signals. The Moving Average Divergence Convergence (MACD) has shown green histograms, indicating a positive price action and momentum. Related Reading: Litecoin’s MVRV Has Surged, Why This Is Bearish However, the Parabolic SAR is yet to reflect this positive price action, as the dotted lines remain positioned above the price candlesticks. Featured Image From UnSplash, Charts From TradingView.com
According to the U.S. SEC, IOSCO members together regulate more than 95% of the world’s securities markets.