Category: Cryptocurrency News

While industry giants like Binance hire and lay off thousands of people, other crypto heavyweights like Tether only have 60 employees.

Elon Musk has consistently proven to be a pivotal figure in cryptocurrencies, particularly Dogecoin (DOGE), his crypto of choice. His influence on DOGE has been nothing short of remarkable, with any mention or action from him causing significant fluctuations in its price. In the digital currency landscape, where DOGE has struggled to keep pace with its counterparts despite the recent positive sentiment surrounding cryptocurrencies, any movement on the meme coin carries a heightened significance. Related Reading: Shiba Inu Encounters Familiar Resistance, Prompting Concerns About Bull Run Enthusiasts eagerly await every word uttered by Musk, recognizing the potential impact his statements can have on the price and overall market sentiment. Given this context, what did Elon Musk, the Tesla and SpaceX top honcho and Twitter owner, say this time, and how did it reverberate within the DOGE community? Elon Musk ‘Doges’ Preference Boosts Dogecoin Price Musk recently responded to a question on a popular social media platform. The question was about his preference between cats and dogs, and the enigmatic billionaire, promptly answered, “Doges.” This seemingly innocuous response had an immediate impact on the price of the meme coin. Doges — Elon Musk (@elonmusk) July 17, 2023 Following Musk’s endorsement, Dogecoin experienced a surge in its price on Monday, with a notable 3% gain. Its trading value climbed from $0.07 to $0.073, reflecting the enthusiastic market response to Musk’s statement. The sudden price increase further solidified the significance of Musk’s influence on Dogecoin and the broader cryptocurrency market. DOGE to USD gets a little boost. Source: CoinMarketCap However, as of the time of writing, the initial excitement has subsided, and DOGE’s price on Coingecko has adjusted to $0.070024. Despite the slight dip from the peak, the meme coin still managed to record a modest increase of 0.5% within the last 24 hours. Over seven days, Dogecoin showcased a more promising rally, with a substantial gain of 8.2%. Source: Coingecko Crypto Trading Expert Foresees DOGE Breakout Meanwhile, crypto trading expert Ali Martinez recently took to Twitter to share his prediction that Dogecoin is on the brink of a breakout, presenting an opportunity for investors. Leveraging an analysis of critical resistance levels and historical data on address accumulation, Martinez foresees a potential 10% price surge if DOGE surpasses the significant $0.75 supply wall. #Dogecoin is trying to break out! Slicing through the $0.75 supply wall will trigger a 10% upswing to $0.85, where 176,000 addresses had previously purchased over 12.34 billion $DOGE. pic.twitter.com/RJw7v7q30X — Ali (@ali_charts) July 15, 2023 His insightful analysis suggests that breaking through the $0.75 supply wall can catalyze a notable upswing in Dogecoin’s price, propelling it toward the $0.85 mark. DOGE market cap nearing the $10 billion level. Chart: TradingView.com Related Reading: Polkadot (DOT) Price Momentum Builds As Open Interest Climbs – Details This specific price level holds particular significance because of the presence of approximately 176,000 addresses that had previously acquired a substantial amount of over 12.34 billion DOGE. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Doha News

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Mark Zuckerberg’s “copycat” app has been forced to impose rate limits to block crypto and spam bots.

CFTC Commissioner Caroline Pham said recent court opinions around digital assets and securities are a first step to crypto regulatory clarity.

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Gensler highlighted market surveillance and three other use cases in which the securities regulator staff could benefit from making greater use of AI.

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Chainlink’s LINK price is gaining pace above $7.00. The price could rise further if it clears the $7.35 and $7.50 resistance levels. Chainlink token price is showing positive signs and rising from $6.50 against the US dollar. The price is trading above the $7.00 level and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support near $6.65 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could gain bullish momentum above the $7.35 resistance zone. Chainlink (LINK) Price Eyes More Gains After a short-term downside correction, LINK price found support near the $6.45 level against the US Dollar. A low was formed near $6.458 and the price started a fresh increase, unlike Bitcoin and Ethereum. There was a clear move above the $6.65 and $6.90 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $7.36 swing high to the $6.458 low. LINK price is now trading above the $7.00 level and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $6.65 on the 4-hour chart of the LINK/USD pair. The pair is now facing resistance near the 76.4% Fib retracement level of the downward move from the $7.36 swing high to the $6.458 low. Source: LINKUSD on TradingView.com The first major resistance is near the $7.35 zone. A clear break above $7.35 may possibly start a fresh increase toward the $7.50 and $7.85 levels. The next major resistance is near the $8.00 level, above which the price could revisit $8.80. Dips Supported? If Chainlink’s price fails to climb above the $7.35 resistance level, there could be a downside correction. Initial support on the downside is near the $6.90 level. The next major support is near the $6.65 level and the trend line zone, below which the price might test the $6.45 level. Any more losses could lead the price toward the $6.00 level in the near term. Technical Indicators 4 hours MACD – The MACD for LINK/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level. Major Support Levels – $6.90 and $6.65. Major Resistance Levels – $7.35 and $8.00.

Ethereum price corrected further lower below the $1,900 level against the US Dollar. ETH is showing bearish signs and might decline further toward $1,825. Ethereum extended its decline and tested the $1,875 level. The price is trading below $1,930 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline further if it stays below the $1,910 and $1,940 resistance levels. Ethereum Price Could Extend Losses Ethereum’s price made a fresh attempt to start a decent increase above the $1,950 resistance. However, ETH struggled to gain strength for a move above $1,950. A high was formed near $1,943 and the price reacted to the downside. There was a break below the $1,900 support zone. A new weekly low is formed near $1,875 and the price is now attempting a fresh increase. It broke the $1,890 and $1,900 levels. There was a move above the 50% Fib retracement level recent decline from the $1,943 swing high to the $1,875 low. Ether is now trading below $1,930 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $1,910 level. There is also a connecting bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD. The trend line is near the 61.8% Fib retracement level recent decline from the $1,943 swing high to the $1,875 low. Source: ETHUSD on TradingView.com The first major resistance is near the $1,950 zone, above which the price could rise toward the $1,985 resistance zone. The next major resistance is near the $2,030 level. Any more gains could send Ether toward the $2,120 resistance or even $2,200. More Losses in ETH? If Ethereum fails to clear the $1,910 resistance, it could start a fresh decline. Initial support on the downside is near the $1,890 level. The first major support is near the $1,875 level, below which the price could extend its decline. The next major support is near the $1,825 support level. Any more losses could send Ether toward the $1,780 support level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,875 Major Resistance Level – $1,910