We wanted crypto to be a free market and decentralized without the control and oversight of any external party. That has long been the ethos of crypto. This is why over the past years, any user who argued in favor of regulation was downvoted to oblivion. A free market is exactly what we got over…
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I'll start this off by giving you the answer. 4 Edit: u/calm-cartographer677 corrected me and indeed NEO (previously "Antshares") is one of the answers bringing the total to 5 The SEC, as part of their suit against Binance, listed a total of 48 cryptocurrencies they consider to be a "security". This includes two that would…
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Bittrex owes $29 million on penalties for sanctions violations and may still face penalties in a case brought by the SEC.
The Cardano (ADA) price experienced a decline, breaking below the $0.33 level. This downward movement has resulted in bears gaining control of the market. ADA has lost around 4% of its value in the past 24 hours and has seen a weekly plunge of approximately 10%. The technical outlook for ADA indicates a bearish intent for the altcoin. Demand and accumulation have significantly decreased on the chart, reflecting a lack of buying interest. The overall market sentiment has remained negative, with Bitcoin also exhibiting volatility. Most other altcoins have followed a similar downward trend. For ADA to initiate a recovery, it would require renewed buying interest in the upcoming trading sessions. Otherwise, there is a possibility that ADA may reach a multi-month low. The recent news of the SEC suing Coinbase and Binance US has had a notable impact on market sentiment, fueling further selling pressure. Related Reading: Shiba Inu Breaks Below This Formation: Signals Potential Further Losses The overhead resistance for ADA is crucial, and breaching that level would be necessary for the altcoin to revive its price. The decline in the market capitalization of ADA suggests that sellers are dominating the market currently. Cardano Price Analysis: One-Day Chart As of the time of writing, ADA was trading at $0.32. In recent trading sessions, ADA broke below the long-standing support line at $0.33, suggesting a potential continuation of the downtrend. The key overhead resistance at $0.33 becomes important for ADA to regain bullish momentum and surpass $0.38. However, if ADA fails to sustain its current price level, there is a possibility of a further decline below $0.30, potentially revisiting its March low of $0.29. The trading volume for ADA in the last session is already lower, indicating weaker buying strength in the market. Technical Analysis As ADA broke below the crucial $0.33 support line, buyers’ confidence diminished, leading the coin to hover around the oversold zone. The Relative Strength Index (RSI) is currently below the half-line and near the 30-mark, indicating nearly oversold conditions. If sellers exert further pressure, ADA may enter the oversold territory. Additionally, ADA is trading below the 20-Simple Moving Average (SMA), indicating that sellers are driving the price momentum in the market. In alignment with other bearish indicators, ADA formed sell signals on the one-day chart. The Moving Average Convergence Divergence (MACD), a momentum indicator, displayed red histograms that are associated with sell signals for the altcoin. Related Reading: Chainlink Bulls Must Uphold This Critical Support Line For Potential 8% Rally This suggests a weakening bullish momentum. The Bollinger Bands, which measure volatility, have diverged significantly. This indicates the potential for price fluctuations and increased volatility in the upcoming trading sessions. Featured Image From UnSplash, Charts From TradingView.com
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The Bitcoin price has shown a strong reaction after the lawsuits filed by the US Securities and Exchange Commission (SEC) against Binance and Coinbase, which may have surprised many. Generally, rising prices on negative news are a strong indication that the sell side is losing steam and a bottom is near. In the case of the Bitcoin price, however, there are still some anxieties hovering over the market at the moment that could mean another, possibly final, drop to the downside. For example, it is still not clear whether the U.S. Department of Justice (DOJ) will also take legal action against Binance and what impact this will have on Binance’s international business. Bullish Arguments Are Growing For Bitcoin Nevertheless, the bullish signals are mounting. As Glassnode co-founders Jan Happel and Yann Allemann write in their latest analysis, Bitcoin’s Bollinger bands pretty much reflect the current state. On the 1-day chart, BTC price remains within the accumulation zone, between the lower band and the 20-day moving average. Related Reading: Bitcoin Is Reportedly Trading At a $2k Premium on Binance.US “Which suggests that this is still a good entry point,” the co-founders of the leading on-chain analysis service say. At the same time, with reference to the chart below, the analysts warn that traders should be aware of widening bands that could herald impending higher volatility that could lead to abrupt moves. Looking at Bitcoin’s open interest, Allemann and Happel state that despite the strong reaction to the bad news, there is no clear direction for now: We believe that the price will continue to consolidate alongside open interest until we approach the FOMC and the market begins to position for the expected output. Remarkably, next week’s Fed meeting – on June 13-14 – will be the first in years without a clear consensus on the rate decision. Since the Fed started raising rates, there has been a clear consensus at every meeting. According to the CME FedWatch tool, futures show a 30% chance that rates will be raised and a 70% chance that they will not. The lack of clarity is also likely to lead to more volatility in the BTC price ahead of the decision. Related Reading: Bitcoin Retests Moving Average That Marked All Major Market Bottoms BTC recently retested the 200-week moving average (MA) at $25,306, but supply liquidity was somewhat thin here. In addition, if price goes down again, a retest of the 50-month MA at $25,898 would be very interesting, where liquidity and sentiment seem to be stronger. It is worth noting that BTC has already formed a double bottom at the 50-month MA. A triple bottom would be bullish. On the other hand, a loss of the 200-month MA would open the way to bearadise. In this respect, a few very important days await BTC in the coming week(s). A defense of the aforementioned price levels is of utmost importance. If defended, a journey to bull paradise could be next, but bulls need to turn the tables on the lower time frames. Featured image from iStock, chart from TradingView.com
Crypto influencers are nothing but just a bunch of paid shills, they don't even look if the project is a rug or a possible honeypot. This guy heavily promoted a scam token to his loads of followers which was later rugged, to which he said https://preview.redd.it/j0oyyaipet4b1.png?width=1046&format=png&auto=webp&s=6d6e2a102124a60ceeebd3ae4a632d834c56dd92 He shilled this scam coin, rugged in…
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U.S. Senators asked the Justice Department to investigate whether the crypto exchange made a false statement to Congress in a letter earlier this year.
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