I work at Mcdonalds making 15.75 an hour in the midwest United States. I already have a Nvidia Geforce RTX 3090 that I can use for mining. I am considering buying a hardware crypto wallet before I begin using the GPU to mine crypto. Combining any money from that and money that I can put…
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Federal Reserve Chairman Jerome Powell says that it is “very premature” to think about pausing rate hikes. “We have a ways to go,” he stressed. However, economist Peter Schiff warned that “Planned rate hikes and QT will only succeed in crashing the economy, not bringing down inflation.” Fed Chair Powell Says ‘Very Premature’ to Talk […]
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Chainlink, the blockchain oracle service provider, continues to keep impressive weekly gains. The token soared with the entire crypto market, bagging over 14% gains. The last week of October has been favorable for the entire crypto market. Just a few days back, the entire crypto market cap crossed the $1 trillion mark. This bullish move acted as a catalyst for most tokens to register substantial gains, including Chainlink. However, the daily chart has been bearish for most coins. Top coins like Bitcoin and Ethereum are facing measurable losses on the day. However, Chainlink has stood out of the crowd, refusing to drop to the red zone. Related Reading: Dogecoin (DOGE) Cracks Over 150% In 7 Days; Is The Top In Yet? Chainlink Soars Thanks To Increased Whale Activity Chainlink (LINK) made a significant rise this past weekend, surging all the way to $8. At the time of writing, LINK was trading at $7.84, giving the blockchain a market cap of $3.8 billion. Strong whale activity served as a backdrop to the LINK price spike over the weekend. On-chain information service Santiment reports that this past weekend saw the highest number of LINK whale transactions in four months. Santiment added: “Chainlink whales have gotten quite active this weekend as market prices have teased the $8 level a few times. Saturday saw 33 different $LINK transactions exceeding a value of $1 million. This was the highest whale activity day since June 27th.” Over the last month, Chainlink (LINK) has been on the radar of investors and crypto traders. This is evident in the number of whale activities throughout the month of October. The price of $8 is a significant resistance for Chainlink at the moment (LINK). If LINK breaks out above that level, it might be the start of a significant upswing. Chainlink has been strongly consolidating in the $6–$8 level for quite some time now. Popular Analyst Sees Bullish Future For Chainlink The cryptocurrency market was down for much of the day. While Chainlink is currently down 3.86%, it’s still one of the best performers among top tokens with a large market cap. One of the most-followed crypto analysts, Pentoshi (anonymously on Twitter), has expressed his optimistic view toward the asset. According to him, Chainlink’s chart has received the most attention over longer time horizons. He instead prefers to talk about the upcoming Chainlink’s staking event, which is slated for December. Pentoshi argues that this will be the catalyst needed to drive LINK’s price to $12.45. At press time, the price of Chainlink is $7.83. So to meet the analyst’s objective, it would need to rocket by more than 55% from its current levels. Related Reading: On-Chain Data Suggests Bitcoin Bottom Comparable To Previous Cycles The expert continues by pointing out that the Total Market Cap of Crypto Index has recently hit a low. This index measures the total value of all altcoins, excluding Bitcoin and Ethereum. According to Pentoshi, the index will make an upward rise that will take it from $387 billion to roughly $456 billion. This signals a bullish outlook for the majority of the altcoins. Featured image from Pixabay and chart from TradingView.com
Shiba has piggybacked on the recent meme coin surge to keep 13% gains last week. The entire meme coin category enjoyed an upswing in the last seven days thanks to Elon Musk’s Twitter takeover. The main attention was on Dogecoin due to speculations of the billionaire adding it as a payment option on the social media platform. However, the Shiba army saw it as an opportunity to push their token to the green zone. October 28 saw Shiba Inu break out of its bullish pennant structure, attracting fresh buyers. This bullish volatile break propelled Shiba towards its high liquidity zone at the Point of Control (POC) in the $0.00001204-area. The breakout has also helped the token register substantial gains on the day. At press time, Shiba is trading at $0.00001204. Related Reading: Bitcoin Bullish Signal: Whales With 1k-10k BTC Have Been Accumulating Shiba’s Relationship With Dogecoin The value of Shiba Inu has often increased simultaneously with that of Dogecoin. Unless there is a sudden shift in the price of meme coins, this pattern will likely persist, at least temporarily. On Halloween, Musk posted a photo of a Shiba Inu dog wearing a Twitter outfit and holding a Twitter pumpkin. He then added a wink emoji as a caption. As expected, the value of Musk’s favorite cryptocurrency, Dogecoin, increased, pulling Shiba Inu along. In the minutes following his post, DOGE decreased by 3.02%. Shiba Inu also saw a significant increase, but not as large as DOGE. It rose by almost 5% to a new local high of $0.0000132. After the initial excitement subsided, the Shiba Inu is now held a 5.17%, trading at $0.0000128. But as of writing, Shiba Inu has shed all that gain and now trades at $0.0000120, over 5%% loss. SHIB’s 20 EMA Become Strong Support After Breakthrough. Shiba Inu concluded a compression period when it surged above the $0.0000101 level. Buyers drove a volatile break above the 20 EMA (cyan), the 50 EMA (blue), and the 200 EMA (green). This latest upswing in SHIB has drawn a bullish pattern on the 4-hour time frame. The pattern broke out after a robust rejection of lower prices at the 20 EMA, accelerating buying pressure. As the 20/50/200 EMAs all pointed north following the golden cross, buyers could try controlling the short-term trend. A rejection from the $0.000013 area might put an end to the run of positive candlesticks. With that in mind, the price of $0.0000123 may serve as the first significant support level that bears try to break. The token might see short-term gains if it closed above the $0.0133 level immediately or eventually. As a result, SHIB may see a bearish invalidation and try to revisit the $0.0000141 resistance level. Related Reading: Brace For Impact, Bitcoin Price Holds At $20,400 Ahead Of FOMC The Relative Strength Index (RSI) also rose over 50, indicating robust purchasing power. The latest string of green candlesticks also had large volumes that indicated an underlying optimistic attitude. Buyers can measure the likelihood of a bullish invalidation by watching for a big reversal on the relative strength index. Featured image from Pixabay and chart from TradingView.com
Hello everyone. For those who missed the original post, last Sunday u/Prussia_dev and I launched TheAvatarFaucet.com. This is a faucet that is exclusive for Reddit users who have a vault and pays out MATIC, reducing the friction to sell an Avatar on Opensea. Prussia also built the banano faucet and the arb-nova faucet. I am…
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MATIC’s price slowed down after showing so much strength as it rallied to a high of $0.97 but got rejected as the price rallied downward. MATIC could suffer retracement as the price site on a crucial support area, holding the price off from sellers with hopes of a rebound. MATIC’s price remains strong on the daily timeframes as the price trades above the 50 Exponential Moving Average (EMA). The price of Polygon (MATIC) showed some incredible price action as the price rallied from a low of $0.35 to a high of $1.2 before facing a rejection back to its key support of $0.77, where bulls were able to hold sell-offs. The crypto market has enjoyed a bit of relief across all assets, with Polygon (MATIC) showing why many faithful would go with this coin on any particular day. With uncertainty in the crypto market creeping in, MATIC could suffer a setback in price as it sits on key support. (Data from Binance) Related Reading: Brace For Impact, Bitcoin Price Holds At $20,400 Ahead Of FOMC Polygon (MATIC) Price Analysis On The Weekly Chart The past week has seen many altcoins continue to produce over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope could be settling into the crypto space once more. The new week looked different, as many altcoins that have had a good run, like MATIC, have struggled to stay afloat as they hold their key support region. MATIC’s price has had a great run but has faced a setback in rallying past the high of $0.97 to a region of $1, as anticipated by many. After its weekly close of above $0.85, the price of MATIC rallied to a high of $0.97; the price faced a minor rejection to break higher to a region of $1. The price of MATIC has maintained its bullish structure above the $0.85 region, but this could be a mirage as the price struggles to hold this region from sellers. Weekly resistance for the price of MATIC – $0.97. Weekly support for the price of MATIC – $0.85-0.77. Price Analysis Of MATIC On The Daily (1D) Chart In the daily timeframe, the price of MATIC continues to be strong as bulls try to hold the price above its key support zone at $0.83, forming strong support to hold off the price from sellers. MATIC currently trades at $0.85, just above its key support on the daily timeframe after successfully rallying from this region several times to a high of $0.97 before being rejected. The price of MATIC needs to hold above this region which corresponds to the Fibonacci retracement value at 38.2%, to avoid bears from taking over and driving the price down to a low of $0.45. Daily resistance for the MATIC price – $0.97. Daily support for the MATIC price – $0.83-$0.77. Related Reading: Litecoin Recovery To End Ongoing Crypto Darkness? LTCUSD November 2, 2022 Featured Image From Daily Hodl, Charts From Tradingview
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Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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Over three billion in value was erased from the stablecoin economy during the past 30 days. The trend occurred despite the number of tethers in circulation rising by 2.2% last month. On Oct. 1, 2022, tether’s market capitalization was approximately $67.95 billion, and it’s risen to $69.36 billion since then. Circle’s usd coin, on the […]
