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What 1-hour chart says? Fundamental Development:- Stable coins highlight ‘structural fragilities’ of crypto — Federal Reserve The Federal Reserve’s board of governors pointed to stable coins as a potential risk to financial stability amid a volatile crypto market. In its Monetary Policy Report released on Friday, the board of governors of the Federal Reserve System said “the collapse in the value of certain stable coins” — likely referring to Terra USD Classic (USTC) becoming unpaged from the United States dollar in May — in addition to “recent strains” in the digital asset market suggested “structural fragilities.” The government department pointed to the President’s Working Group on Financial Markets report from November 2021, in which officials said legislation was “urgently needed” to address financial risks. Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $20400-$19600 ranges. BTC is made low $19,650 and now consolidating within a range. Yesterday it made high near $20,800 and then it continue to decline. Bitcoin is struggling to gain momentum above $20,800. Alternative Scenario: If Bitcoin fails to clear the $20,800 resistance zone, it could start another decline. An immediate support on the downside is near the $19,200 level.
BINANCE:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development:- XRP was trading at $0.33748 . on the Investing.com Index on Thursday, up 10.04% on the day. It was the largest one-day percentage gain since February 25.The move upwards pushed XRP's market cap up to $16.24440B, or 1.70% of the total cryptocurrency market cap. At its highest, XRP's market cap was $83.44071B.XRP had traded in a range of $0.33486 to $0.34696 in the previous twenty-four hours. Over the past seven days, XRP has seen a drop in value, as it lost 16.11%. The volume of XRP traded in the twenty-four hours to time of writing was $2.27271B or 1.80% of the total volume of all cryptocurrencies. It has traded in a range of $0.2939 to $0.4117 in the past 7 days. At its current price, XRP is still down 89.74% from its all-time high of $3.29 set on January 4, 2018. Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $22,800-$22,000 ranges.BTC is made low 20,038 and now consolidating within a range. Yesterday it made high near $22,267 and then it continue decline. Bitcoin is struggling to gain momentum above $22,300. Alternative Scenario: If Bitcoin fails to clear the $23,300 resistance zone, it could start another decline. An immediate support on the downside is near the $20,100 level.
BINANCE:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development:- Spam and bots have been the bane of anyone that uses the internet for years, but recently this digital scourge has ramped up activity in the crypto sector in a big way. Crypto intelligence provider Lunar Crush has revealed spam in the cryptographer has increased by an astonishing 3,894%. The firm has been collecting crypto-specific social data since 2019, and says not only is spam at an all-time high, it's also “the fastest growing metric on social media.” The findings were published in a May 25 report, stating that “more spam accounts than you would think are actually people.” For this reason, it is often a challenge for software to detect and flag spam. Twitter is the social media platform of choice for the crypto industry, and it is awash with spam and bots. There has been an estimated 1,374% increase in Twitter spam volume over the past two years. Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $32,000-$28,000 ranges.BTC is made low 27,900 and now consolidating within a range. Yesterday it made high near $29,850 and then it continue to climbed up to near 200 simple moving average. Bitcoin is struggling to gain momentum above $29,800. Alternative Scenario: If Bitcoin fails to clear the $29,800 resistance zone, it could start another decline. An immediate support on the downside is near the $28,000 level.
BINANCE:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development: Cardano (ADA) leads by a wide margin in a Twitter poll by the crypto community on May 18, 2022, getting 82% of votes over three other altcoins.A Twitter user with 26.7k followers ran a poll requesting people to vote for the coin they believe will remain until 2030. Along with ADA, they listed Solana (SOL), Avalanche (AVAX), and Algorand (ALGO). At the time of writing, 12,983 Twitter users voted. 82% of the respondents favored Cardano’s ADA, while only 3% picked Avalanche.However, a commenter expressed zero confidence in the four listed tokens. Citing the unfortunate implosion of Terra (LUNA). They said their conviction remains with Bitcoin (BTC) and Ethereum (ETH).While it is impractical to tell which coin is the next Bitcoin, experts have parameters in place to vet the sustainability of a crypto project. The sustainability of a coin may be from its use cases, team, web presence, community, etc. The Case for Cardano Cardano has a community of 1.3 million followers on Twitter. Its blockchain was developed by Charles Hoskinson, the co-founder of the Ethereum network. From its official website, Cardano claims to be a blockchain platform for change makers, innovators, and visionaries, with the tools and technologies to bring about positive global change. Its blockchain can authenticate pharmaceutical products to eliminate the risk of buying counterfeit drugs, among other fascinating use cases.Nonetheless, every cryptocurrency has a reason to exist. It may exist as a payment method like BTC, or a utility token, like ETH, to verify transactions on a blockchain. The absence of a use case for a coin is a strong indication of something fishy.A crypto project’s website and social media presence also gauge its activity level and give an insight into the project. Knowing the team behind a project adds an extra layer of credibility to the project. All of these are true for Cardano (ADA). Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $31,400-$28,400 ranges.BTC is made low 25,200 and now consolidating within a range. Yesterday it made low near $28,600 and then it continue to climbed up to near 200 simple moving average. Bitcoin is struggling to gain momentum above $30,500.The price is now trading near the $29,800 level and the 200 hourly simple moving averages. Alternative Scenario: if Bitcoin fails to gain pace above the $30,500 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $28,800 level and the next major support is near the $28,300 level.
BITSTAMP:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development: During a recent event hosted by The Wall Street Journal, Bank of England Jon Cunliffe opined that retail investors do not actually understand cryptocurrencies. He added that cryptocurrency buyers could end up losing all their money since digital assets are highly speculative. The oft-repeated warning is highly relevant in the wake of the collapse of the Terra protocol. Its native LUNA token plunged to zero in days, impoverishing its investors. Cunliffe believes that digital assets have no intrinsic value, which is why they fluctuate depending on market sentiment. He added that cryptocurrencies are not actually viewed as a financial investment by retail investors. The BoE official has added that cryptocurrencies should be treated as risky securities. The total cryptocurrency market capitalization currently stands at $1.29 billion. Short Term Technical View: On daily time frame BTC is trading below 200 simple moving averages and trading between $30,900-$29,200 ranges. Yesterday it made high near $30,700 resistance zone and then it fell down sharply and found support near $29,300 support zone. Bitcoin is struggling to gain momentum above $30,500 and $30,700.The price is now trading near the $29,800 level and the 200 hourly simple moving averages. Alternative Scenario: if Bitcoin fails to gain pace above the $30,700 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $29,300 level and the next major support is near the $28,700 level.
COINBASE:BTCUSD
by nehabaraskar
💎 BTCUSDT: Ready For Next Legup Towards 50k💣💣💣💣Hello Traders, as u can see btc successfully made healthy correction towards 0.5% fib ratio area which is 48800$. looks like a retracement has been done of recent rally. btc must go up frm here if there is further drop possibility then it will test 0.618 fib ratio which is at 41587$. after daily strong confirmation we can build long position frm here and target is 50k. Great alts ideas are in pipeline .. like share and follow me
Long
by Rohit_Shinde
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