Undeterred by the reported slow adoption of the Nigerian central bank digital currency, the deputy governor of the Reserve Bank of Zimbabwe, Innocent Matshe recently said his institution will proceed with plans to launch its own digital currency. In addition to sending a team to learn from the Central Bank of Nigeria’s experiences, Zimbabwe has […]
I've spend many months analyzing Technical Analysis patterns such as the "Head and Shoulders" (which I recommend highly for those who are looking for new hair products btw), the double bottom (which usually turns into triple, quadruple etc.), the megaphone (I don't really use this much because I live in a quiet neighborhood) and so…
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Litecoin’s momentum indicators signal extremely oversold conditions, hinting at the formation of a potential market bottom.
Tron, a decentralized, open-source blockchain-based operating system with smart contract functionality, recently released its monthly report for the month of October. There, the company behind the cryptocurrency TRX highlighted some of the developments that gave its ever-supportive community plenty of reasons to celebrate. Among those included in the report was Tron becoming the first national blockchain of Dominica which meant digital currencies under its umbrella such as TRX, BTT, JST, NFT, USDD, USDT and TUSD were given permission to be used as medium of exchange within the country. Justin Sun, the founder of the decentralized network, has also been invited by world-leading cryptocurrency trading exchange Huobi Global to be part of its advisory board. Meanwhile, Tron Grand Hackathon, returned for its third season, providing another avenue for blockchain enthusiasts to showcase their ideas and be noticed by crypto experts. Related Reading: Rug Pull: 97% Of Crypto Projects On Uniswap Were Scams, Study Reveals TRX Performs Well In October TRX managed to offset some of its loses back in September when it managed to pump its prices last month, peaking at $0.064 on October 15. Among those possible reasons for the impressive performance of the Tron crypto was the notable influx of 4.45 million new users that joined the network’s ecosystem. This resulted in a major upswing in number of transactions facilitated by the blockchain which reached a tally of 186 million by the end of the month. The altcoin, however, seemed to have lost some of its momentum as it is currently in a declining trend over the last 24 hours according to tracking from Coingecko. At press time, TRX is trading at $0.062 and is now down by 2% over the last seven days. Despite the price dip, the asset is still on the green zone as far its biweekly and monthly charts are concerned. It is the 15th ranked cryptocurrency in terms of market capitalization, having an overall valuation of $5.728 billion. Price Forecast For TRX Although the trading price Tron crypto is currently experiencing a downward movement, the network’s community can expect bullish rally from the asset, at least according to forecasts from Coincodex. Over the next five days, TRX is expected to slightly increase its current spot price by almost 2% to change hands at $0.063. Meanwhile, the digital coin is expected to retain its upward momentum for the next 30 days and is predicted to trade around $0.067. It is important to note, however, that these forecasts are not set in stone as TRX, just like any other cryptocurrency, is always at the mercy of the volatile nature of the crypto market. Related Reading: Crypto Exchange Deribit Loses $28 Million To Cybercriminals TRX total market cap at $5.77 billion on the daily chart | Featured image from Zipmex, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal understanding of the crypto market and should not be construed as investment advice.
Hi Guys and gals, Yesterday I asked this sub about good ways to earn small amounts of crypto. Maybe to get like 2/3 dollars a day. The result was that my inbox exploded. At the time of writing there are 1.2+k comments and a handfull of people PM'ing me with advice. I tried to go…
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Low volatility and high on-chain losses for Bitcoin, but overall UTXOs in loss still have a way to go to match previous market bottoms.
A new NFT drop featuring music industry icons such as Snoop Dogg and Billy Ray Cyrus is bringing together music communities from across the genre spectrum, as well as blockchain networks.
OEV-enabled oracles auction off the right to extract on-chain value to the same third-party searchers who used to bid for the blockspace.
Ripple is facing resistance near $0.46 against the US Dollar. XRP price could start a fresh rally if it is able to clear the $0.46 and $0.478 resistance levels. Ripple is consolidating above the key $0.442 support zone against the US dollar. The price is facing hurdles near $0.460 and the 100 simple moving average (4-hours). There is a crucial bearish trend line forming with resistance near $0.4605 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could start a strong increase if there is a clear move above $0.462 and $0.482. Ripple Price Prepares For The Next Move After a sharp decline, ripple’s XRP found support near the $0.4220 zone against the US Dollar. XRP formed a base above the $0.4220 level and started a fresh increase, similar to ethereum and bitcoin. There was a clear move above the $0.435 and $0.445 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.5118 swing high to $0.4220 swing low. However, the price struggled to clear the $0.4800 resistance and the 100 simple moving average (4-hours). It failed to clear the 61.8% Fib retracement level of the downward move from the $0.5118 swing high to $0.4220 swing low. The price is now facing hurdles near $0.460 and the 100 simple moving average (4-hours). There is also a crucial bearish trend line forming with resistance near $0.4605 on the 4-hours chart of the XRP/USD pair. The main resistance is near the $0.478 and $0.480 levels. A successful break above the $0.478 and $0.480 resistance levels could spark another rally. Source: XRPUSD on TradingView.com The next key resistance is near the $0.500 level, above which the bulls are likely to aim a retest of the $0.55 barrier. Any more gains might send the price towards the $0.60 level. Downside Break in XRP? If ripple fails to start a fresh increase above the $0.478 level, it could start a fresh decline. An initial support on the downside is near the $0.442 level. If there is a downside break and close below the $0.442 level, xrp price could start a major decline. In the stated case, the price could even decline below the $0.422 support. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.442, $0.422 and $0.405. Major Resistance Levels – $0.462, $0.48 and $0.50.
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