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Chrono.Tech Closes $30 Million Funding Round Led By Venture Capitalist Mark Carnegie

SYDNEY, Jan. 27, 2022 /PRNewswire/ — Chrono.Tech — an Australian blockchain software company — has attracted over $30 million in investment funds to grow its HR-focused solutions aimed at solving a number of problems in the recruitment industry using blockchain technology. The funding round was led by Australian venture capitalist Mark Carnegie and a leading  European Family Office. […]

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NGPF Announces Scholarship Winners in 5th Annual PAYBACK Challenge

PALO ALTO, Calif., Jan. 27, 2022 /PRNewswire/ — Next Gen Personal Finance (NGPF), a nonprofit committed to ensuring ALL students graduate high school with personal finance skills, is pleased to recognize 2 students as National Grand Prize winners in their 2021 PAYBACK Challenge. Congratulations to the following students who will receive a $2,500 award from […]

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DEAC e Neste cooperam com soluções sustentáveis de armazenamento de dados

HELSINKI e RIGA, Letônia, 27 de janeiro de 2022 /PRNewswire/ — A DEAC e a Neste unem forças para cooperar em soluções de armazenamento de dados sustentáveis. A DEAC é um dos maiores data centers independentes do norte da Europa, que tem adquirido eletricidade renovável desde 2021. A cooperação com a Neste, líder mundial na produção […]

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Notabene Publishes The State of Crypto Travel Rule Compliance Report

NEW YORK, Jan. 27, 2022 /PRNewswire/ — On a mission to help companies adjust to the new crypto regulatory landscape, Notabene has completed the first ever comprehensive global Travel Rule compliance survey, releasing results in The State of Crypto Travel Rule Compliance Report. “Our experience with the regulators and Travel Rule implementation have taught us […]

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DEAC y Neste cooperarán en soluciones sostenibles de almacenamiento de datos

HELSINKI y RIGA, Letonia, 27 de enero de 2022 /PRNewswire/ — DEAC y Neste unen fuerzas para cooperar en soluciones sostenibles de almacenamiento de datos. DEAC es uno de los centros de datos independientes más grandes del norte de Europa y ha estado adquiriendo electricidad renovable desde 2021. La cooperación con Neste, el productor líder a […]

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ETH to hit $20 trillion market cap by 2030: Ark Invest

A new report from Cathy Woods’ ARK Invest forecasts Ethereum (ETH) will meet or even exceed a $20 trillion market cap within the next 10 years, which would equate to a price around $170,000 to $180,000 per ETH.The report also predicted big things for Bitcoin (BTC), saying it is “likely to scale as nation-states adopt (it) as legal tender… the price of one bitcoin could exceed $1 million by 2030.”ARK Invest is a tech focused American asset management firm based in the United States with $12.43 billion AUM.#BigIdeas2022 Report is here! To enlighten investors on the impact of breakthrough technologies we began publishing Big Ideas in 2017. This annual research report seeks to highlight our most provocative research conclusions for the year. Download! https://t.co/QvUbuqVpIL— ARK Invest (@ARKInvest) January 26, 2022The prediction in ARK Invest’s report Big Ideas 2022 is predicated on how quickly the Ethereum network has grown in utility and efficiency. Much of the growth over the past two years has come from decentralized finance (DeFi). ARK described the appeal of DeFi, stating:“Decentralized Finance promises more interoperability, transparency, and financial services while minimizing intermediary fees and counterparty risk.”According to ARK, smart contracts and decentralized apps (DApps) on Ethereum is “usurping traditional financial functions at the margin.” The report highlighted that banking and lending, exchanges, brokerages, asset management, insurance, and derivatives can all be found on Ethereum-based smart contracts.What’s more, DeFi is a lot more efficient too. ARK estimated that DeFi outperformed traditional finance over the last twelve months in terms of revenue per employee $88 million to $8 million.In terms of Bitcoin, the report forecasts $1.36 million per BTC with a market cap of $28.5 trillion by 2030. ARK researchers assigned an estimated future value to eight of Bitcoin’s use cases, and used the sum of all of them to reach their conclusion about BTC price. By 2030, the firm expects Bitcoin to account for 50% of global remittances at 1.5x velocity, 10% of emerging markets’ currency, 25% of US bank settlement volumes, 1% of nation-state treasuries worldwide, 5% of global high net worth individual (HNWI) wealth, 2.55% of institutional asset base, 5% of the cash from S&P 500 companies, and 50% of gold’s total market cap.ARK also argued that Bitcoin mining “could revolutionize energy production.” While global concerns have been raised about the tremendous amount of energy that Bitcoin mining requires, the researchers believe that “Bitcoin mining will encourage and generate more electricity from renewable carbon-free sources.”“The addition of Bitcoin mining into power developers’ toolboxes should increase the overall addressable market for renewable and intermittent power sources.”Related: Ban less likely? Putin says crypto mining has advantages in RussiaBoth ETH and BTC have had a rough past seven days by falling 22.2% and 13% respectively according to CoinGecko.

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IRS special agent: Crypto's the future but there are ‘mountains of fraud’

A top special agent from the Internal Revenue Service has told a conference that NFTs and crypto are the “future” but highlighted that fraud and manipulation is still rampant in the space. Ryan Korner from the IRS Criminal Investigation’s Los Angeles field office made the comments virtual event held on Tuesday by the USC Gould School of Law, Korner. Bloomberg reports Korner said: “We’re just seeing mountains and mountains of fraud in this area.”He told the event the IRS CI division acknowledges the significant growth of the crypto sector, but noted that the usage of digital assets has not been limited to payments and trading. He outlined various illicit behaviors such as fraud, including money laundering, market manipulation and tax evasion. Korner highlighted market manipulation in particular, pointing to high-profile investors having the ability to sway asset prices with a single Tweet. He spoke about the involvement of celebrities in the space, perhaps thinking of examples as Kim Kardashian and Floyd Mayweather — who recently got into hot water over promoting an allegedly fraudulent token dubbed EthereumMax. Korner said: “We’re not necessarily out there looking for celebrities, but when they make a blatant or open comment that says ‘Hey, IRS, you should probably come look at me,’ that’s what we do.”‘This space is the future’During the event, Korner stated the reason the division was actively training and educating its agents on crypto and NFT regulation, was because “this space is the future” and wasn’t going anywhere. Korner also stated that the IRS has collaborated with other federal agencies, including the Justice Department to “make sure everyone is on the same page and staying ahead of the criminals,’ he said. Related: Crypto crime’s overall impact set to fall even further in 2022: ChainalysisIRS investigators seized $3.5 billion worth of cryptocurrencies tied to financial crimes during the fiscal year 2021. This accounted for 93% of all the assets seized by the division in that time frame. “IRS CI ended the year with 80 cases in its inventory that it was still actively working on where the primary violation was tied to crypto,” Korner said.

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Crypto money laundering up by one third in 2021 but still below record

A new Chainalysis report has revealed that $8.6 billion in value was laundered through cryptocurrency in 2021. It marks a 25% increase from 2020, but still remains well below the high watermark hit in 2019. That year $10.9 billion in value was laundered via cryptocurrency. Since 2017, Chainalysis estimates that a total of $33.4 billion in crypto has been laundered.Chainalysis points out the $33.4 billion in crypto laundered since 2017 pales in comparison to the estimated $2 trillion in fiat is laundered yearly from offline crimes such as drug trafficking. However, a reliable assessment of the amount of fiat laundered is more difficult to determine than crypto due to the use of untraceable cash in offline crimes. The report states:“The biggest difference between fiat and cryptocurrency-based money laundering is that, due to the inherent transparency of blockchains, we can more easily trace how criminals move cryptocurrency between wallets and services in their efforts to convert their funds into cash.”According to the cybersecurity analytics provider the value of the laundered crypto was derived from “crypto-native crimes” in which “profits are virtually always derived in cryptocurrency rather than fiat currency.”For the first time since 2018, centralized exchanges (CEX) accounted for less than half (47%) of the value laundered, signalling a potential change in cyber criminals’ behavior. DeFi protocols saw their utility for illicit addresses increase nearly 2,000% from a 2% share in 2020 to 17% in 2021.Hackers, such as the infamous North Koreans who stole about $400 million, strongly preferred DeFi while scammers tended to prefer CEX, which Chainalysis attributes to a “relative lack of sophistication.”Chainalysis said, “Mining pools, high-risk exchanges, and mixers also saw substantial increases in value received from illicit addresses as well.”Of the funds laundered in 2021, a greater proportion arrived at the top-five laundering services in 2021 (58%) than in 2020 (54%). The overall concentration of money laundering, however, decreased in 2021 as 583 addresses received deposits of at least $1 million in value while in 2020, 270 such addresses were used.Related: Crypto crime’s overall impact set to fall even further in 2022: ChainalysisBy asset, altcoins saw the largest amount of concentration as 68% of those laundered went to the 20 largest deposit addresses used for illicit activity. Ethereum (ETH) was next with 63%, stablecoins at 57%, and Bitcoin (BTC) was by far the least concentrated with only 19% going to the top addresses.

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The Sandbox announces $50M fund for its startup accelerator program

Virtual world project The Sandbox announced its metaverse accelerator program that will push the development of the open metaverse by investing $50 million in startups. The Animoca Brands subsidiary is partnering with the venture accelerator firm Brinc to target 30 to 40 blockchain startups a year for the program.The Sandbox Metaverse Accelerator Program will allocate up to $250,000 in investment to each potential project and will give additional incentives to top-performing projects. The bonuses include The Sandbox (SAND) digital asset and LAND, digital real estate within The Sandbox’s metaverse. Apart from this, the best-performing startups will also have access to additional investment grants and high-profile mentors.According to The Sandbox Co-Founder Sebastien Borget, the program is an expansion of its goal to support a new wave of metaverse entrepreneurs. Through this, startups across the world can make their ideas come to life. “We’re especially eager to support underrepresented founders in their ambitions as they explore the infinite possibilities offered into The Sandbox ecosystem,” he said.Applications are now open, and the first batch of investments is scheduled to proceed by the second quarter of 2022. The program runs within Launchpad Luna, a collaboration effort by Animoca Brands and Brinc that aims to support the development of startups.The program supports the development of an open metaverse, the metaverse that is not owned by any single entity. According to Animoca Brands Co-Founder and Executive Chairman Yat Siu, the open metaverse “presents an incredible opportunity to create a participatory and collaborative nonzero-sum environment based on openness, equitability, user governance, and digital property rights.”Related: NFT-focused Animoca Brands valued at $5B following $358M raiseApart from supporting businesses, the development of the metaverse may also help the environment in the long run. Manav Gupta, the founder and CEO of Brinc believes that “as digital experiences develop, we will find ourselves having fewer reasons to emit carbon to travel for work or play.” Gupta says that this can decrease the demand for physical products like art and merch that have unsustainable production methods. 

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Ethereum bulls aim to flip $2.8K to support before calling a trend reversal

The dire predictions calling for the onset of an extended bear market may have been premature as prices appear to be in recovery mode on Jan. 26 following a signal from the U.S. Federal Reserve that interest rates will remain near 0% for the time being. After the Fed announcement from, prices across the cryptocurrency market began to rise with Bitcoin (BTC) up 4.11% and making a strong push for $39,000. This sparked a wave of momentum that helped to lift a majority of tokens in the market, but at the time of writing BTC price has pulled back to the $37,000 zone.Data from Cointelegraph Markets Pro and TradingView shows that the top smart contract platform Ethereum (ETH) also responded positively to the rise in bullish sentiment as its price climbed 8.11% on the 24-hour chart to hit a daily high at $2,723. ETH/USDT 1-day chart. Source: TradingViewHere’s a look at what several analysts in the market are saying about the price action for Ethereum and where the top altcoin could be headed in the short term. Ether had a “nice 12% bounce” from the recent lowsShort-term analysis of Ether’s price action was provided by crypto trader and pseudonymous Twitter user ‘CryptoAmsterdam’, who posted the following chart outlining one possible path the price of Ether could take in the near future. ETH/USDT 1-hour chart. Source: TwitterAfter noting the “nice 12% bounce” in the price of Ether “since the flip,” CryptoAmsterdam gave the warning that they “wouldn’t chase the green here.” CryptoAmsterdam said, “Will look for a potential short-term flip of bias if we get back under the lower time frame range high and break that little trendline.”A bottoming pattern on the Ether chartFurther insight into the state of Ether was offered by options trader and pseudonymous Twitter user ‘John Wick’, who posted the following chart highlighting the formation of a bottoming pattern on the Ether chart. ETH/USD 4-hour chart. Source: TwitterWick said, “Ethereum showing the same bottoming pattern trying to break out of the resistance zone. Needs to see more upside from BTC to breakout.”Related: Altcoins book 40% gains after Bitcoin and the crypto market enter a relief rallyEther bulls need to reclaim support at $2,850A final bit of analysis on key levels to keep an eye on moving forward was shared by crypto trader and pseudonymous Twitter user ‘TheCryptoCactus’, who posted the following chart outlining a key support and resistance zone, as well as an area of heavy accumulation. ETH/USD 2-day chart. Source: TwitterAccording to TheCryptoCactus, those that “longed the bottom” are in a good position for an “easy hedge” at these levels, but the trader cautioned that what is needed next is “to get a valid support/resistance flip of $2,850.”TheCryptoCactus said, “Personally, would rather wait till we flip $3,000 into support again and then just ape a huge position.”The overall cryptocurrency market cap now stands at $1.734 trillion and Bitcoin’s dominance rate is 41.5%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Bitcoin’s Inflation-Hedging Credentials Tested by Fed Resolve

January 26, 2022 by Bloomberg News | | Share This (Bloomberg) — Bitcoin is proving that it’s not immune to uncertainty around the Federal Reserve’s ability to cool the hottest inflation in nearly 40 years despite its billing by advocates as a hedge against rising prices. The cryptocurrency’s recent tumble spotlighted how sensitive it is […]

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The names to know as Biden mulls Breyer's replacement

President BidenJoe BidenDeputy AG: DOJ investigating fake Trump electors On The Money — Vaccine-or-test mandate for businesses nixed Warner tests positive for breakthrough COVID-19 case MORE is set to have his first opportunity to appoint a judge to the Supreme Court after news broke that Justice Stephen BreyerStephen BreyerWill the justices end race-based affirmative action?  Overnight […]

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SEC pushes decision on ARK 21Shares Bitcoin ETF to April 3

The U.S. Securities and Exchange Commission has extended its window to approve the ARK 21Shares Bitcoin exchange-traded fund (ETF) originally proposed in July 2021.According to a Tuesday filing from the SEC, the regulatory body will push the deadline for approving or disapproving the ARK 21Shares Bitcoin ETF from Feb. 2 for an additional 60 days, to April 3. SEC Assistant Secretary J. Matthew DeLesDernier noted in the filing that it was “appropriate to designate a longer period” for the regulatory body to consider the proposed rule change, allowing the ETF to be listed on the Cboe BZX Exchange.The exchange originally filed the paperwork to apply for the ARK 21Shares Bitcoin ETF in July 2021, with the SEC able to delay its decision and open the offering to public comment for up to 180 days, with the option for a final 60-day extension starting on Feb. 2. After April 3, the SEC should not be able to extend the deliberation window further and will approve or disapprove of the crypto ETF.In a separate filing, the SEC also extended its window on a proposed rule change, allowing shares of an ETF tracking Bitcoin futures from agricultural fund provider Teucrium to be listed on NYSE Arca. The firm applied for the investment offering in May 2021 and will likely receive a final decision from the SEC by April 8.Related: Valkyrie aims for ETF linked to Bitcoin mining firms on NasdaqU.S. regulators have yet to approve ETFs with direct exposure to cryptocurrencies like Bitcoin (BTC) but gave the green light to investment vehicles linked to BTC derivatives for the first time in October 2021. At the time of publication, shares of Bitcoin futures-linked funds from Valkyrie and ProShares are currently listed on Nasdaq, with VanEck’s Bitcoin Strategy ETF trading on the Chicago Board Options Exchange.

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Stephens Wins $18.2 Million in Raiding Claim Against Ben Edwards

January 26, 2022 Share This In a split decision, Stephens, Inc. won nearly $18.2 million in an arbitration claim accusing regional brokerage competitor Benjamin F. Edwards & Company of raiding an Arkansas branch, according to an award issued last week.  Little Rock, Arkansas-based Stephens’ claim, which also named Ben Edwards’ chief executive Benjamin F. “Tad” […]

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Altcoins book 40% gains after Bitcoin and the crypto market enter a relief rally

Crypto investors are beginning to feel a sense of hope once more on Jan. 26 as the wider cryptocurrency market is seeing green and Bitcoin (BTC) price trading near $38,000. Even with the breakout, traders are advising caution ahead of the Federal Open Market Committee meeting where the Federal Reserve is expected to unveil their plans for hiking interest rates. As bullish sentiment begins to return, several altcoin projects have seen their prices spike more than 41% as dip buyers sought to secure a position ahead of a possible market rally. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Frontier (FRONT), Decentral Games (DG) and Quantstamp (QSP).Frontier lists at BithumbFrontier is a chain-agnostic decentralized finance aggregator designed to allow users to store, earn, swap and invest in crypto assets on multiple blockchain networks from one interface. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for FRONT on Jan. 24, prior to the recent price rise. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. FRONT price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for FRONT rose into the green zone on Jan. 23 and hit a high of 86 on Jan. 24, around 33 hours before the price spiked 100% over the next day. The surge in FRONT price comes as the token was listed on the Korean-based Bithumb cryptocurrency exchange. Decentral Games rolls out ICE pokerDecentral Games is a play-to-earn gaming protocol that offers users an opportunity to make a living through incentivized gameplay, self-custody and the delegation of yield-bearing Metaverse assets. Data from Cointelegraph Markets Pro and CoinGecko shows that the price of DG has rallied 55% from a low of $0.236 on Jan. 25 to a daily high of $0.366 on Jan. 26.DG/USD 1-hour chart. Source: CoinGeckoThe increase in price for DG comes as the beta version of the protocols ICE poker game is now live and allowing users to create avatars and earn money in a virtual reality skyline ICE poker lounge. Related: BTC price hits $38K as Bitcoin analysts focus on weekly closeQuantstamp services are in high demandThe blockchain security and code audit provider Quantstamp saw its token price rise 66% on Jan. 26 to hit a daily high of $0.357. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for QSP on Jan. 23, prior to the recent price rise. VORTECS™ Score (green) vs. QSP price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for QSP climbed to a high of 73 on Jan. 23, around 10 hours before the price staged a 69% rally over the next two days.The climbing price of QSP follows a series of audits conducted by the Quantstamp team for multiple projects including the code for the CasperSwap decentralized exchange and the MakersPlace NFT market. The overall cryptocurrency market cap now stands at $1.734 trillion and Bitcoin’s dominance rate is 41.8%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Key Trends In Online Fashion Retail in 2022 – Including Sustainability and Personalization

Everyone with even a trivial interest in fashion is looking to see what the industry has in store in 2022; with Covid-19 lockdowns giving way to more relaxed regulations, people are slowly starting to think about fashion trends beyond pajamas and sweatpants. Image Credit: Cesar Cruz – Valuewalk Q4 2021 hedge fund letters, conferences and […]

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Price analysis 1/26: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

Bitcoin (BTC) and most major altcoins have bounced off their strong support levels but could the rally sustain to the extent that traders feel confident that a bottom is in place? Bloomberg Intelligence senior commodity strategist Mike McGlone said that Bitcoin’s price is “about 30% below its 20-week moving average,” roughly at the same position, which had led to bottom formations in March 2020 and July 2021.Although Bitcoin has corrected sharply in January, the exchanges’ balances dropped from 2.428 million Bitcoin on December 28 to 2.366 million Bitcoin on Jan. 24, according to data from CryptoQuant. This indicates that investors may be stashing away their recent purchases safely.Daily cryptocurrency market performance. Source: Coin360However, it may not be a V-shaped recovery for Bitcoin as volatility is likely to remain high. Traders will keenly watch the U.S. Federal Reserve’s decision following the conclusion of its two-day policy meeting on Jan. 26. Could Bitcoin and most major altcoins extend their relief rally? Let’s study the charts of the top-10 cryptocurrencies to find out.BTC/USDTThe long tail on Bitcoin’s Jan. 24 candlestick shows aggressive buying at lower levels. Sustained buying by the bulls has propelled the price above the immediate resistance at $37,332.70.BTC/USDT daily chart. Source: TradingViewThe BTC/USDT pair could now reach the 20-day exponential moving average ($40,438), which has been acting as a strong resistance during relief rallies. If the price turns down from this resistance, the bears will try to pull the pair below $32,917.17. If they succeed, the pair could drop to the strong support at $30,000.Conversely, if the price breaks above the 20-day EMA, the pair could rally to the 50-day simple moving average ($44,935). A break and close above this resistance will be the first sign that the corrective phase could be over. The pair could then challenge the 200-day SMA ($48,750).ETH/USDTEther (ETH) sharply bounced off $2,159 on Jan. 24, as seen from the long tail on the day’s candlestick. This suggests that bulls are aggressively buying at lower levels.ETH/USDT daily chart. Source: TradingViewSustained buying has pushed the price back into the channel today. This is the first sign of strength. The buyers will now attempt to push and sustain the price above the overhead resistance at $2,652.If they manage to do that, the ETH/USDT pair could rise to the 20-day EMA ($2,966). The bears are likely to mount a strong defense of this level.If the price turns down from the 20-day EMA, it will suggest that sentiment remains negative and traders are selling on rallies. The bears will then again try to resume the downtrend by pulling the pair below $2,159.BNB/USDTBinance Coin (BNB) rebounded sharply off the $330 support on Jan. 24 as seen from the long tail on the day’s candlestick. This suggests that buyers are aggressively accumulating near $330.BNB/USDT daily chart. Source: TradingViewThe bulls pushed the price back inside the channel on Jan. 25 and will now attempt to drive the BNB/USDT pair to the 20-day EMA ($435). If this hurdle is overcome, the pair could rally to the resistance line of the channel.On the contrary, if the price turns down from the current level or the 20-day EMA, it will suggest that traders continue to sell on rallies. The bears will then again try to sink the pair below the strong support zone at $330 to $320.ADA/USDT Cardano (ADA) is attempting to bounce off the strong support at $1, indicating that bulls are buying on dips to this level. The relief rally could now reach the 50-day SMA ($1.28).ADA/USDT daily chart. Source: TradingViewIf bulls thrust the price above the 50-day SMA, the ADA/USDT pair could rally to the resistance line of the descending channel. A break and close above the channel will signal a possible change in trend.Conversely, if the price turns down from the moving averages, it will suggest that bears continue to sell on rallies to strong resistance levels. The bears will then again attempt to sink and sustain the price below $1. If they succeed, the pair could decline to $0.80.SOL/USDTThe bulls again successfully defended the support line of the descending channel on Jan. 24 as seen from the long tail on the day’s candlestick. If bulls push the price above $104.82, Solana (SOL) could reach the 20-day EMA ($125).SOL/USDT daily chart. Source: TradingViewA break and close above the 20-day EMA will be the first sign that the selling pressure could be reducing. The SOL/USDT pair could then rise to the resistance line of the descending channel. The bulls will have to push the price above the channel to signal a change in trend.Conversely, if the price turns down from the 20-day EMA, it will suggest that bears continue to sell on rallies. The bears will then again try to sink the pair below the channel. If they succeed, the bearish momentum could pick up and the pair could drop to the psychological support at $50.XRP/USDTRipple (XRP) has been trading inside a tight range between $0.65 and $0.54 for the past few days. This suggests that both bulls and bears are playing it safe and not waging large bets.XRP/USDT daily chart. Source: TradingViewThe downsloping 20-day EMA ($0.70) and the relative strength index (RSI) near the oversold territory indicate that bears have the upper hand. If the price turns down from $0.64, the XRP/USDT pair could plummet to the psychological support at $0.50.Contrary to this assumption, if bulls drive the price above $0.64, the pair could challenge the 20-day EMA. A break and close above this resistance could open the gates for a rise to the 50-day SMA ($0.79). The bulls will have to clear this hurdle to signal a possible change in trend.LUNA/USDTTerra’s LUNA token continues to trade inside the descending channel pattern. The downsloping 20-day EMA ($73) and the RSI in the negative zone indicate an advantage to sellers.LUNA/USDT daily chart. Source: TradingViewIf bears pull the price below $59.13, the LUNA/USDT pair could again drop to the support line of the channel. This level has held during the previous two declines, hence the bulls will again try to defend it.If they do, the pair could rise to the 20-day EMA and then rally toward the downtrend line of the channel. A break and close above the channel will be the first sign that the downtrend could be over. Related: Can DeFi and CeFi coexist? Three takeaways from experts panelDOGE/USDTThe buyers once again purchased the dip below $0.13 on Jan. 24 as seen from the long tail on the day’s candlestick. This started a relief rally, pushing Dogecoin (DOGE) to the 20-day EMA ($0.15).DOGE/USDT daily chart. Source: TradingViewIf bulls drive the price above the moving averages, the DOGE/USDT pair could rally to the critical overhead resistance at $0.19. If the price turns down from this resistance, the pair could extend its stay inside the $0.19 to $0.13 range for the next few days.Contrary to this assumption, if the price turns down from the moving averages, it will suggest that demand dries up at higher levels. The bears will then try to pull and sustain the price below $0.13. If they do that, the pair could resume its decline to the psychological support at $0.10.DOT/USDTThe bulls have successfully held Polkadot (DOT) above the critical support at $16.81 for the past few days. This could attract further buying by short-term traders propelling the price toward the breakdown level at $22.66.DOT/USDT daily chart. Source: TradingViewThe 20-day EMA ($22.77) is sloping down and the RSI is in the negative zone, indicating that bears have the upper hand. The DOT/USDT pair is likely to face stiff resistance at this level. If the price turns down from the 20-day EMA, the bears will again try to pull the pair to $16.81. If this support holds, the pair could remain range-bound for a few days.A break and close below $16.81 could start the next leg of the downtrend while a break above the 50-day SMA ($25.88) may open the doors for a possible rally to $32.78.AVAX/USDTThe failure of the bears to sink Avalanche (AVAX) below the $51.04 to $47.66 support zone may have attracted buying from aggressive bulls who have pushed the price above the 200-day SMA ($65).AVAX/USDT daily chart. Source: TradingViewThe AVAX/USDT pair could now rise to the breakdown level at $75.50 where the bears may mount a stiff resistance. This is an important level to watch out for as the 20-day EMA ($80) is placed just above it.If the price turns down from the breakdown level, the bears will try to pull the pair below the 200-day SMA. If they succeed, the pair could again drop to $51.04. Alternatively, a break and close above the 20-day EMA could open the gates for a possible rally to the downtrend line.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.Market data is provided by HitBTC exchange.

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