34% of gamers want to use crypto in the Metaverse, despite the backlash
According to Globant, 34% of gamers are interested in conducting crypto transactions in the Metaverse, while 16% have purchased NFTs in the past.
According to Globant, 34% of gamers are interested in conducting crypto transactions in the Metaverse, while 16% have purchased NFTs in the past.
Polkadot has witnessed continued downfall in price since the last month. It has now established its support level at $6.30, however, the coin has been trading very close to that support level. After it broke below the $6.66 support line, the coin has spiralled downwards. It retested the $6.30 level the past month. Technical outlook for the coin displayed build up of bullish pressure. The price of the altcoin has remained sandwiched between the $6.58 and $6.30 levels over the last trading sessions respectively. DOT has continued to face rejections at the $7 level and that had exhausted the bulls on the chart. Broader market weakness is also to be blamed for DOT’s mundane price action. DOT briefly traded below the support line of $6.30 in July which had led to a sell-off on the chart. Indicators display recovery of buying strength. If buyers regain the momentum then there is a chance for DOT to climb above its immediate resistance mark. Polkadot Price Analysis: Four Hour Chart DOT was trading at $6.53 at the time of writing. If the coin manages to trade at this price level for a significant period of time then it might topple over the $6.66 resistance mark. Once it moves above the $6.66 mark, Polkadot can attempt to revisit the $7 price ceiling. If Polkadot trades above $6.80 then it could invalidate the bearish thesis for the coin. On the flipside, being stuck at the present price level for too long could drag DOT down to $5.90. Trading volume of Polkadot declined which indicated that buying strength remained less in the market. Technical Analysis DOT pictured recovery of buying strength on the chart as coin moved upwards. Buying strength displayed an uptick on the four hour chart. In accordance with the same, Relative Strength Index swiftly climbed above the zero-line. A reading above the zero-line indicated that buying pressure took over the market. It is too early to say if the bearish action is fading out, DOT’s price action could also be a brief relief rally. Price of DOT also rose above the 20-SMA as demand for the coin shot up. This signalled that buyers were responsible in driving the price momentum in the market. Related Reading | Bitcoin Price Spends Four Weeks At 2017 Peak Prices, What Comes Next? The altcoin captured the rise in price and reflected it in the technical indicator. Awesome Oscillator determines the price movement and registers reversal in the same. AO pictured green histograms as price direction showed reversal on the chart. These green histograms on the AO were buy signal for the coin. Bollinger Bands points towards price volatility and fluctuations. The narrowing of the bands indicated that price of DOT will trade around the same levels over the upcoming trading sessions. Related Reading | Why StarkWare Faces Backlash Over Token Design Featured image from The Market Periodical, chart from TradingView.com
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The interior ministry of Russia has decided to go after those providing money-laundering services to crypto fraudsters, suggesting they should go to prison. The department wants to introduce criminal liability for the activities of these people, also known as ‘droppers.’ Law Enforcement in Russia Targets Droppers Involved in Fraudulent Crypto Schemes The Ministry of Internal […]
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The bankrupt CeFi crypto lender is about $1.2 billion in deficit, with the majority of its liabilities being customer deposits some believe they may not be required to give back.
Bitcoin started a decent increase above the $20,000 resistance against the US Dollar. BTC is trading above $20,500 and eying more gains towards the $22,000 level. Bitcoin is slowly moving higher above the $20,000 resistance zone. The price is now trading above the $20,200 level and testing the 100 hourly simple moving average. There is a key bullish trend line forming with support near $20,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might gain bullish momentum if it clears the $20,750 and $21,000 levels. Bitcoin Price Gains Momentum Bitcoin price formed a base above the $19,000 level and started a decent increase. The price traded above the $20,000 resistance zone to move into a positive zone. There was a clear move above the 23.6% Fib retracement level of the downward move from the $22,500 swing high to $18,916 low. At first, the price saw a rejection near the $20,500 level. However, the bulls were active near the $19,600 level. Bitcoin started another increase above the $20,500 resistance zone. It is now trading above the $20,200 level and testing the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $20,400 on the hourly chart of the BTC/USD pair. On the upside, the price could resistance near the $20,750 level. It is near the 50% Fib retracement level of the downward move from the $22,500 swing high to $18,916 low. The next key resistance is near the $21,000 zone. Source: BTCUSD on TradingView.com A close above the $21,000 resistance zone could set the pace for a decent increase. In the stated case, the price may perhaps rise towards the $21,650 level. The next major resistance sits near the $22,000 level. Fresh Decline in BTC? If bitcoin fails to clear the $20,750 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $20,500 level. The next major support now sits near the $20,400 level and the trend line. A close below the trend line support zone could accelerate losses. In the stated case, there is a risk of a move towards the $20,000 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $20,400, followed by $20,000. Major Resistance Levels – $20,750, $21,000 and $21,650.
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