Aurelia Butler

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  • 88 Shares179 Views

    in Cryptocurrency

    Polkadot Running for Bullish but Bearish Soon?

    Looking at the daily trading chart of DOT/USDT, Polkadot (DOT) is in a downtrend since November 2021. Following reaching its highest price of $55, the token has been forming a descending channel. After breaking out of the first support zone of $18-$14, its price continues to drop and is now reaching the second support zone.
    DOT/USDT 1H Chart (Source: TradingView)The relative strength index (RSI) measures the relative momentum in the magnitude of recent price changes to deduce oversold or overbought assets. The RSI value of the daily chart is 33.48 after a reversal from 12.16. This shows that DOT has been oversold and now slightly tends to form an uptrend.As seen in the daily trading chart above, the buying pressure around the support line hasn’t broken the selling momentum yet. Although the price is having multiple retests to the support line, it’s still under the 200 EMA line in both 1H and 4H charts. If the bearish chart pattern tends to break out of the current support zone, the traders can find an opportunity to short.By seeing that traders and investors put a buying order block at $6.3, the price may come for a reversal for a short period. But if it cannot break the descending channel from May to June 2022 for a bullish run, the price will continue to drop deeper into the bearish market.According to CoinMarketCap, Polkadot seems to have regained interest from traders as its trading volume increased up to 30.05% within 24 hours. Having the market presence of the top 12, its price stands at $6.49, with a 24-hour increase in price change of 1.41%.Continue reading on CoinQuora More

  • 138 Shares189 Views

    in Cryptocurrency

    Chinese Internet Firm Shuts Down NFT Platform Due to ‘Slow Sales’

    Tencent, China’s largest internet company, has shut down one of its digital collection platforms due to “slow sales,” according to a report.A Chinese report said that Tencent had replaced the “Digital Collections” section in its original APP with “Digital Orders,” leaving a note that they are “suspending the sales service of digital collections.”The report also noted that Tencent only has the introduction of paintings by famous teachers such as Qi Baishi, Pan Tianshou, and Fu Baoshi, with the comment section flooded with users requesting refunds.A holder told BlueWhale Finance that compared with other platforms, the digital collections released by Tencent had “slow sales,” and some works were in an unsalable state.According to Tencent’s financial report for the first quarter of 2022, the group’s total revenue was over $20 billion, down by 6%. And under non-IFRS, net profit was above $3 billion, but down by 23% year-on-year.In related news, the Shanghai Municipal People’s Government of China is going all out to embrace blockchain, cryptocurrency, NFT, and the metaverse. This was captured in its five-year plan to develop its digital economy sent to governments of all districts and the municipal government’s committees, offices, and bureaus. The country will develop open source platforms, NFTs, and other business models to accelerate the exploration of digital technology applications in virtual assets, artworks, intellectual property, games, etc. This is an exciting development that comes after years of bans and regulations.Continue reading on CoinQuora More

  • 138 Shares99 Views

    in Cryptocurrency

    ADA In Top 10 Most Purchased Tokens Amongst 2000 BSC Whales

    Recent data from whale tracking website, WhaleStats, indicates that Cardano (ADA) is one of the top 10 purchased tokens among the top 2000 biggest BSC whales in the last 24 hours. Other crypts on the list include SOD, EUT, FWT, BAKE, and UNI.One possible reason for this increase in ADA purchases could be an increase in excitement due to the long-awaited Vasil Hard Fork that is around the corner for Cardano.Another reason could be the fact that payments in ADA are now available to more than 7 million users through a newly launched ADA Pay plugin that was developed as part of COTI’s Project Catalyst challenge.The pay plugin is on Odoo, which is an open-source solution for business applications with millions of users. Its applications have been adopted by several startups and large enterprises.In addition to this, the team has also created another ADA Pay plugin for eight different shopping platforms which include, WordPress, Joomla, and WooCommerce.This launch also comes at a time in which the number of smart contracts deployed on the Cardano network is coming closer to its 3,000 milestone.The excitement surrounding Cardano could also be on the increase as some analysts predict that the price of ADA could reach $2.9 by September of this year.According to CoinMarketCap, ADA is currently trading at $0.4282 after a 0.96% decrease in price over the last 24 hours.In terms of 24-hour trading volume, ADA is currently standing at $995,121,555.12 after a 38.88% increase.Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.Continue reading on CoinQuora More

  • 150 Shares169 Views

    in Cryptocurrency

    LTC Price Analysis: Things Went Downhill for LTC After Rejection at $55

    Despite Litecoin (LTC) trying to rise in price, in its 4- hour trading chart, the bears proved to be too strong. The broader market weakness could be one of the causes of LTC’s downward price movement.At the moment, the closest support level for LTC is $45 and the price of the crypto was trading very close to this point. Unfortunately, the latest drop in the LTC price invalidated LTC’s weekly gains. If LTC sees even the slightest bit of demand, it could push the price above the $50 price mark.
    Litecoin / U.S. Dollar 4h (Source: TradingView)A price analysis of LTC’s 4-hour chart reveals that LTC was trading at $48. There are also other support lines; one at $47 and the other at $45. Specifically, these support lines point out the possibility of LTC dropping further only if it goes below the support levels. LTC could visit $47 and then move down to trade at a lower level.The resistance for LTC rested at $50. If the demand for crypto rises, LTC could rise above the $50 level. In order for the bearish thesis to be invalidated, LTC has to trade above the $51 level for an extended period of time.Unfortunately, the amount of LTC that was traded in the last session saw a drop which indicates a fall in buying strength. As soon as LTC lost the $50 support, buyers started to quit the market.The RSI showed a small pitch which signals LTC’s struggle to recover in the market. Also, its price is currently under the 20-SMA line which means that sellers are now in control of the market. The RSI is also below the half-line which proves the overpowering selling pressure for the crypto.Continue reading on CoinQuora More

  • 125 Shares189 Views

    in Cryptocurrency

    India’s Sole Crypto Advocate, Policy Body Has Been Shut Down

    According to recent reports, the Internet and Mobile Association of India (IAMAI) concluded that it is time to disband the Blockchain and Crypto Assets Council (BACC). However, as of the time this article was written, the IAMAI had not yet made any kind of official comment on the matter.The fact that IAMAI has distanced itself from BACC may prove to be another blow to crypto exchanges and enterprises in India that are already having a difficult time recovering from the market fall and the installation of a stringent tax system for cryptocurrencies.Many factors contributed to the decision, including lack of maturity among crypto founders, inaction around critical issues despite being chastised by India’s parliamentary finance committee, and the creation of an environment that was toxic, a source with knowledge of the internal consultation process has said.Since its inception, BACC worked tirelessly to unite India’s crypto community under one roof. The committee’s primary focus used to be on public policy, and it has collaborated closely with legislators, regulators, and industry representatives.All of the council’s member crypto exchanges have signed on to a self-regulatory code of conduct that was developed in conjunction with the industry’s main stakeholders.Indian authorities, in contrast to their colleagues in other countries, have been dismissive of the potential of cryptocurrencies to revolutionize payments, financial services, and financial inclusion.Unfortunately for crypto enthusiasts, BACC will now no longer be operating. The business community will be without a significant policy lobbying arm when BACC is dissolved.Continue reading on CoinQuora More

  • 125 Shares129 Views

    in Economy

    U.S. producer prices accelerate in June, but underlying inflation slowing

    The producer price index for final demand climbed 1.1% last month after rising 0.9% in May, the Labor Department said on Thursday. In the 12 months through June, the PPI increased 11.3%after advancing 10.9% in May.A 2.4% rise in goods prices accounted for three quarters of the increase in the PPI. Goods prices gained 0.4% in May. Nearly 90% of last month rise in goods prices was attributed a 10.0% jump in energy prices. There were strong increases in the prices of gasoline, diesel fuel, electric power and residential natural gas. Wholesale food prices edged up 0.1%.The cost of services rose 0.4% after climbing 0.6% in May.Economists polled by Reuters had forecast the PPI rising 0.8% and increasing 10.7% year-on-year.The government on Wednesday reported an acceleration in consumer prices in June, with the annual rate posting its largest increase since late 1981. Inflation is soaring, fueled by snarled global supply chains and massive fiscal stimulus from governments early in the COVID-19 pandemic. Russia’s dragging war against Ukraine, which has caused a spike in global food and fuel prices, has worsened the situation. But there are some glimmers of hope that price pressures could be nearing a peak. Crude oil prices have fallen sharply, with the global benchmark Brent trading below $100 per barrel after surging to $139 in March, which was close to the all-time high reached in 2008. Other commodity prices are also coming off the boil.Excluding the volatile food, energy and trade services components, producer prices rose 0.3% in June. The so-called core PPI increased 0.4% in May. In the 12 months through June, the core PPI advanced 6.4% after rising 6.7% in May.The Federal Reserve is expected to raise its policy rate by another 75 basis points at the end of this month as it fights to cool demand and bring inflation down to its 2% target. The U.S. central bank has hiked its overnight interest rate by 150 basis points since March. More

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    in Economy

    Brazil's Economy Ministry raises 2022 GDP growth forecast to 2%

    Gross domestic product is expected to rise by 2% rather than 1.5% expected previously, as first reported by Reuters on Tuesday. The ministry maintained its 2023 GDP growth outlook at 2.5%.The government’s estimates are more optimistic than those by market economists, who see economic growth of 1.59% this year and just 0.5% next year, according to a weekly central bank survey.The Ministry’s Secretariat for Economic Policy also lowered its 2022 inflation forecast to 7.2% from 7.9% in May, incorporating the impact of measures passed in Congress to reduce taxes on key goods, such as fuel and energy. Even so, the figure remains far from the official inflation target of 3.5% this year, with a margin of 1.5 percentage point up or down.For 2023, the government now expects inflation at 4.5%, up from 3.6%, against a 3.25% official target with the same band of 1.5 percentage points. More

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    in Economy

    Outgoing Sri Lankan president lands in Singapore after fleeing uprising

    COLOMBO/SINGAPORE (Reuters) -Outgoing Sri Lankan president Gotabaya Rajapaksa landed in Singapore on Thursday, flight tracking data showed, after fleeing mass protests over his country’s economic meltdown, and troops patrolled the capital Colombo to enforce a curfew. Rajapaksa, who fled to the Maldives on Wednesday to escape a popular uprising over his family’s role in a crippling economic crisis, headed on to Singapore on a Saudi Arabian airline flight, according to a person familiar with the situation. A passenger on the flight, who declined to be named, told Reuters that Rajapaksa was met by a group of security guards and was seen leaving the airport VIP area in a convoy of black vehicles.Singapore’s foreign ministry said Rajapaksa had entered the country on a private visit, and had not sought or been granted asylum. Rajapaksa has yet to resign despite promising to do so by Wednesday, which has stirred renewed uncertainty in crisis-ridden Sri Lanka. His decision on Wednesday to make his ally Prime Minister Ranil Wickremesinghe the acting president triggered more protests, with demonstrators storming parliament and the premier’s office demanding that he quit too.”We want Ranil to go home,” Malik Perera, a 29-year-old rickshaw driver who took part in the parliament protests, said on Thursday. “They have sold the country, we want a good person to take over, until then we won’t stop.”Protests against the economic crisis have simmered for months and came to a head last weekend when hundreds of thousands of people took over government buildings in Colombo, blaming the powerful Rajapaksa family and allies for runaway inflation, shortages of basic goods, and corruption.Rajapaksa, his wife and two bodyguards fled the country on an air force plane early on Wednesday and headed to the Maldives.Inside the president’s residence early on Thursday, ordinary Sri Lankans wandered the halls, taking in the building’s extensive art collection, luxury cars and swimming pool.”The fight is not over,” said Terance Rodrigo, a 26-year-old student who said he had been inside the compound since it was taken over by protesters on Saturday along with the prime minister’s official residence.”We have to make society better than this. The government is not solving people’s problems.”The usual protest sites, however, were calm and organisers handed back the president and prime minister’s residences to the government on Thursday evening.”With the president out of the country…, holding the captured places holds no symbolic value anymore,” Chameera Dedduwage, one of the organisers, told Reuters.But another organiser, Kalum Amaratunga, said a crackdown could be imminent after Wickremesinghe branded some protesters “fascists” in an address the previous evening.The government imposed a curfew in Colombo from noon (0630 GMT) on Thursday to early morning on Friday in a bid to prevent further unrest. Local media showed armoured vehicles with soldiers atop patrolling the city’s streets.The military said troops were empowered to use force to protect people and public property.ONE DEAD, 84 HURT IN CLASHESPolice said one person was killed and 84 injured in clashes between riot police and protesters on Wednesday near the parliament and prime minister’s office, as people demanded the ouster of both Rajapaksa and Wickremesinghe.The army said two soldiers were seriously injured when they were attacked by protesters near parliament on Wednesday evening and that their weapons and magazines were snatched.Police said the man who died was a 26-year-old protester who succumbed after he was injured near the premier’s office. Rajapaksa had repeatedly assured the speaker of parliament that he would step down on Wednesday, but his resignation letter had not arrived as of Thursday, said an aide to Speaker Mahinda Yapa Abeywardena.A planned session of parliament on Friday was postponed, with opposition leaders due to meet on Friday to decide the next course of action, the speaker’s office said in a statement. The speaker could seek the advice of the attorney general on next steps if Rajapaksa’s resignation did not come by the end of Thursday, said the aide, who did not want to be named given the sensitivity of the matter.Former prime minister Mahinda Rajapaksa and former finance minister Basil Rajapaksa, both brothers of the president, informed the Supreme Court through their lawyer that they would remain in the country until at least Friday.They were responding to a petition filed by anti-corruption body Transparency International seeking action “against persons responsible for the current economic crisis https://www.tisrilanka.org/tisl-asks-sc-to-issue-travel-restrictions-on-6-respondents-including-mahinda-rajapaksa-basil-rajapaksa-ajith-cabraal-and-s-r-attygala”.Immigration officials had stopped Basil Rajapaksa from flying out of the country on Tuesday.Parliament is expected to name a new full-time president on July 20 and a top ruling party source told Reuters that Wickremesinghe was the party’s first choice, although no decision had been taken. The opposition’s choice is their main leader, Sajith Premadasa, the son of a former president. More