BeInNews Academy Ltd © Street: Suite 1701 – 02A, 17/F, 625 King’s Road, North Point. Hong Kong.
The cryptocurrency space has remained relatively uneventful over the past 24 hours with(BTC) stubbornly anchored in the $9,100 – $9250 range.
Even Ether (ETH), the second-largest crypto by market cap, has remained low-key just above support at $220. The low We can describe volatility as how much the value of an asset changes over a given time. A volatility index... More has expectedly raised some speculation on whether it is consolidating before a bounce towards $250.
(XLM) is the only top-20 asset that saw some action, relatively speaking. Its price rallied an impressive 5% over the last 24. Apart from that, there are no other signs of major price moves, barring probably two highly volatile altcoins that could soon resume their upward momentum.
Continue reading for more on these and other big stories from the day.
The Bitcoin price has been falling alongside a descending resistance line since June 24. During this time, it created a minor support area at $9,050. After bouncing at this area yesterday, the price broke out from the resistance line and reached a high of $9,238, but has been declining ever since.
As long as the price is trading above the aforementioned $9,050 minor support area, BTC should move up towards the range highs.
TikTok, the Chinese-origin online video sharing platform, is no stranger to controversies relating to privacy. For example, just yesterday, the Indian government banned TikTok, along with 58 other Chinese apps citing privacy and Once you've bought or received bitcoins; you now need to keep them as safe as possible. This guide will provide... More concerns.
Even before that, back in Feb 2020, Reddit CEO Steve Huffman called TikTok “fundamentally parasitic.” BeInCrypto’s Rick D. delves deep into the major security nightmare that TikTok presents on multiple fronts.
It’s worth a read if you or anyone in your family/friend circle, for that matter, has been using TikTok. The report also sheds light on how decentralization may be a legitimate solution to these reoccurring security breaches.
Ever since its launch back in May 2019, the MATIC price has been following a long-term rising support line. As of today, the price moved slightly above that line. Technical indicators are signaling bullish price action, however, the price is still facing considerable resistance at 300 satoshis. Vigilant long traders will need to keep that in mind.
As for LOOM, the price is trading slightly above the 50-day MA, which has been a remarkably good predictor of the trend so far. The RSI is at 50, so it’s unclear yet whether the trend is bullish or bearish.
Messari researcher, Ryan Watkins [@RyanWatkins_] dives deep into Decentralized Finance (DeFi) is a term that is being used to describe the world of financial services that are increasingly... More token valuations. In a lengthy thread, the industry expert explains that DeFi tokens produce income through a value extraction mechanism at the protocol level.
Watkins mentions that traditional valuation methods can be used to frame discussions about the worth of these tokens. The three most common methods are Discounted Cash Flow (DCF), Comparable Company Analysis (Comps), and Precedent Transactions (Precedents).
In what looks like a rare instance of a coordinated clampdown, YouTube, Reddit, and Twitch have almost simultaneously banned a number of high-profile accounts, citing content guideline violations.
The banned accounts include the likes of r/thedonald, a leading subreddit for Donald Trump supporters; a similar channel on Amazon-owned Twitch; and the controversial YouTube account of FreeDomainRadio host Stefan Molyneux. All bans took place within an hour.
The hourly chart reveals that the Ethereum price has been following a descending resistance line since June 24. A suspected bounce will not take place unless the price breaks out above this line and the 200-hour MA.
The closest resistance area is found between $232 – $236, the 0.5 – 0.618 Fib levels, which previously acted as resistance. Therefore, this should be the reversal level at which Ethereum declines.
Do you want to Be In Crypto?Join our Telegram Trading Group for FREE Trading Signals,a FREE Trading Course for Beginners and Advanced Tradersand a lot of fun! Images courtesy of Shutterstock, TradingView and Twitter.