Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Aave Below Its Long Term Support; What To Expect Now?

Aave has been on a downtrend since April amidst intense volatility in the market. Major altcoins have extended losses owing to a major sell off all across the cryptocurrency industry. Over the past week, the coin presented lower lows and displayed intense selling pressure. The altcoin has also experienced high trading volumes which was tied with increased selling pressure. This has also added to the falling market value of the asset on the one day chart. Fall from the current price level would mean Aave could soon eye the support region of $50. Aave has been among the top losers in the industry with a loss of over 51% in the past one week. Aave Price Analysis: One Day Chart Aave was priced at $74.80 at the time of writing. The altcoin traded at this price level a year ago in January. The downtrend for Aave seems strong because the altcoin just broke below its long standing support line of over a year. Chances of a price reversal cannot be ruled out yet because the altcoin has broken below its descending trendline. Often after a sharp fall, prices make a turn around. In case of a price revival, Aave could target $111. Another fall from its present price level would make the altcoin trade near the $61 support line and then hover around the range of $50. As mentioned above, the trading volume rose and was seen in red signifying bearishness in the market. Technical Analysis Aave was in middle of a sharp sell-off, the coin hadn’t registered the same selling pressure in the last one year. This reading shows excessive bearish pressure in the market. On the Relative Strength Index, the indicator stood close to the 20-mark, this meant oversold condition for the coin. Aave last hovered at this point in the month of December 2020. Bollinger Bands that display volatility showed chances of volatility. The bands expanded which are an indication of increased price volatility. Related Reading | TA: Bitcoin Breaks $30K, Why This Could Turn Into Larger Downtrend Awesome Oscillator depicts the price momentum of the market. On the one day chart, the indicator was seen below the half-line. It displayed amplified red signal bars which was a sign of bearish price action. Only in the case of buyers resurfacing can Aave try to display recovery on charts. The chances of revival over the immediate trading sessions seem weak as strength from the broader market is required. Chaikin Money Flow displays capital outflows and inflows. On the chart, the indicator was seen below the half-line and it continued to move southbound as capital outflows exceeded capital inflows. Related Reading | Bitcoin Exchange Inflows Hit Three-Month High As Market Braces For More Downside Featured image from UnSplash, chart from TradingView.com

Korean newspaper reports that Do Kwon requested police protection when someone rang his doorbell

https://twitter.com/DooWanNam/status/1524915757938667521 The source article is in Korean, but here's the Google translation https://news-mt-co-kr.translate.goog/mtview.php?no=2022051308574726920&MT_T&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp He needs to totally get himself and his family into a bunker, move out of the country, or something. He's ruined a lot of people's lives. Better yet, he should just turn himself into the police and get himself in jail. Sooner…
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Coinbase junk bonds tank amid market rout and creditors’ fears

“Nothing about Coinbase changed this week, we are the same company we were yesterday, or a year ago. If anything, we are in an even stronger position given our balance sheet,” assured Coinbase CEO Brian Armstrong.

Rich Dad Poor Dad’s Robert Kiyosaki Plans to Buy Bitcoin When the ‘Bottom Is In’ — Says It Could Be at $17K

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, believes bitcoin could crash to $17K. However, he also believes the cryptocurrency “will win” because America is led by the three stooges. He has been recommending bitcoin to investors alongside gold and silver. Kiyosaki Thinks Bitcoin Could Test the Bottom at $17K […]

Dogecoin Has Dropped 90% Since “The Dogefather” Debuted On SNL

Dogecoin, the most popular meme cryptocurrency, has dropped 30% in the last 24 hours, but has already started to rebound. Someone moved around 250 million Dogecoins during this enormous price drop, with little more than half of that amount going to Robinhood. Whale Move Dogecoin To Robinhood The @DogeWhaleAlert account, which monitors large Dogecoin transfers, has discovered two transactions totaling more than 100 million Dogecoins. The two DOGE lumps had a total of 110,614,220 and 139,261,848 meme coins worth $8,497,274 and $11,625,997, respectively. The second Dogecoin payment was made via the renowned Robinhood trading program, which allows users to invest in equities as well as cryptocurrency such as Bitcoin, Ethereum, Solana, DOGE, Shiba Inu, Bitcoin Cash, and other prominent coins. 🐕🪙🐋🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨 139,261,848 $DOGE ($11,625,997 USD) was transferred from an unknown wallet to a #Robinhood wallet. Fee: 0.756 ($0.063 USD) Tx: https://t.co/ADkdxMqG32#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews — Ðogecoin Whale Alert (@DogeWhaleAlert) May 11, 2022 Following Bitcoin’s slide to $27,000 and Terra’s UST losing its dollar peg, Dogecoin has lost 30% of its value in the last 24 hours, plunging $0.160 to $0.0723. However, the coin has started to recoup some of its losses, climbing 9.47 percent as of press time. DOGE is now trading at $0.0793 on the Binance market. Suggested Reading | Shiba Inu: Biggest Dollar Holding Among Wealthiest Ethereum Whales DOGE Plummets Since Musk’s Endorsement DOGE has plummeted 90% since reaching a historic high on May 8 last year. Following Elon Musk’s declaration of himself as “The Dogefather” on Twitter and subsequent appearance on Saturday Night Live, the meme coin rocketed to $0.7376. (SNL). DOGE/USD has plumetted 90% since Musk appeared on SNL. Source: TradingView However, the presence of Tesla CEO Elon Musk on American television triggered a large selloff, and the token sank to $0.45 three days later. Musk has long been a supporter of Dogecoin, frequently promoting it in his tweets and boosting its value. However, as time passed, these tweets began to have little or no effect on the Dogecoin price. Tesla, the electric car company, began accepting the meme coin as payment for certain items in its online store in January 2022. Musk responded by saying it was an experiment and that he would see how it went. Related Reading | Dogecoin Displays A Falling Wedge Pattern; Here’s What It Means Featured image from UnSplash, chart from TradingView.com  

If you are young, this crash could be the best thing to ever happen to you.

We've all lost money, some more than most. I remember during the second peak of this last run I felt like a fucking genius with a portfolio well into the six figure range. Now, between CRO and UST doing what they did plus the general market conditions being what they are, let's just say my…
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Ethereum Below $2000; Do We See A Relief Rally Soon?

Ethereum has bled heavily owing to the aftermath of the crypto crash. Prices of other altcoins followed suit as Bitcoin hangs below the $30,000 price mark. Ethereum’s current price has hit a new low in 2022. The altcoin had tried to pull off a brief recovery a week back but the broader market weakness finally crept in and caused it to dip further. At the time of writing, ETH is seen below its major support line of $2500. Selling pressure had accelerated as the increased fear index drove investors out of the market. From the technical outlook, Ethereum is set to dip further and then could stage a recovery above $2500. Ethereum’s long entry point could be at $2500, with a stop loss at $2400 and profit between the $3000 to $3100 price level, respectively. Ethereum Price Analysis: One Day Chart Ethereum’s price were given support at the $2500 level for 43 weeks before they fell below the same. At press time, ETH was trading at $1907. The coin had last touched this price level in August 2021. A move below the $1900 level could be expected and ETH might find temporary support at the $1700 area before it makes a bounce back. The altcoin displayed a long descending line (yellow), and at press time, ETH broke below the descending line. Chances of price rebounding cannot be ruled out as the coin is heavily discounted. For ETH to have a successful price rebound, it has to reclaim $2500 and then $3000. Over the last 28 hours, ETH lost 8.8% of its market value and in the past week, the coin depreciated by over 30%. Technical Analysis ETH’s price was seen below the 20-SMA which made investors stay away from buying the coin. A reading below the 20-SMA meant sellers were driving the price momentum in the market. Bulls have tired out as ETH dipped below its crucial support of $2500. The Relative Strength Index was nearing the 20-mark which is considered heavily bullish as it marks an intense sell-off in the market. The RSI last hovered around this range in January, which points toward a multi-month low for the indicator. Related Reading | TA: Ethereum Dives 15%, Why Close Below $2K Is The Key Moving Average Convergence Divergence indicated bearish signal on the chart. MACD underwent a bearish crossover because it displayed growing red signal bars highlighting a negative price action for the coin. On the flipside, a resurgence of buyers can help push prices up briefly. Chaikin Money Flow indicates capital outflow and inflows. The indicator was below the halfline and that meant capital outflows were greater than inflows at press time. Capital inflows have been negatively affected because buyers have left the market. Related Reading | TA: Ethereum Nears Breakout Zone, Why ETH Might Start Recovery Featured image from Unsplash, chart from TradingView.com

Almost 1 Trillion Terra (Luna) are now minted, bringing the price to lower than $0.000003 on FTX

https://terra.smartstake.io/ust There are now over 1 Trillion Luna tokens minted (a little less in circulation), this is a rise from 1,576,957,952 (1.5 billion) tokens yesterday. ​ https://preview.redd.it/qsacgiunb5z81.png?width=917&format=png&auto=webp&s=c13de17a6cee93648a253f9c97345994839c22c3 Multiple exchanges are starting to delist Luna from exchanges including Binance, so be careful when trying to take arbitrage opportunities or finding somewhere to do futures on Luna.…
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Halving?

Is this what they meant by the halving? $.05 to $.025? 😂 submitted by /u/RvnMiner2018 [link] [comments]