Cryptocurrency

As of the latest trends, XRP has been testing the support level around $0.50, a crucial psychological threshold for the asset. A sustained move below this level could signal further bearish momentum, potentially leading the price to test the next significant support zone around $0.47. XRP/USDT Chart by TradingViewOn the flip side, if XRP manages to stabilize and bounce back from the current support, the initial resistance is likely to be encountered near the $0.54 mark, where the 50-day moving average currently lies. This moving average has historically acted as a dynamic resistance level, and a breakout above could propel XRP toward the $0.56 level, which aligns with the 100-day moving average.Further complicating the chart is the downward trendline that has been in play since the local high established in November. This trendline has repeatedly acted as resistance, pushing the price downward each time it has been tested. For a true reversal to be confirmed, XRP would need to break above this trendline with significant volume to validate the move.At the time of analysis, Solana is trading around the $90 mark, having rebounded with considerable momentum from the support level near $78.35. This pivotal point, bolstered by the 100-day Exponential Moving Average (EMA), has served as a springboard for the recent bullish trend. The price of SOL has been consistently creating higher lows, indicative of strong buying interest at these levels.Resistance for SOL is currently looming at the $100 psychological level, a breakthrough of which could propel the price toward the next significant resistance at $110. The relative strength of Solana is further substantiated by the resurgence of a risk appetite on the market, particularly evidenced by the blossoming of meme coins. This renewed interest in higher-risk assets typically bodes well for ecosystems like Solana that support a variety of decentralized applications and niche crypto projects.At present, Ethereum is hovering around the $2,200 mark, a level that has seen significant activity and is currently acting as a temporary support. However, the lack of bullish conviction suggests that this support level may not hold if a new wave of selling pressure emerges. Resistance levels are observed near the $2,400 range, where previous attempts to break higher have been met with a firm rejection, indicating a substantial barrier to upward movement.The selling pressure is partly attributed to the recent news of Celsius Network liquidating approximately $1 billion worth of Ethereum holdings. This substantial amount has the potential to saturate the market, overwhelming current liquidity and triggering a downturn. As a result, the $2,000 psychological level is eyed as the next critical support zone, a breach of which could see a sharp decline toward the $1,950 region, where the 200-day moving average lies, providing stronger historical support.On the flip side, if Ethereum can absorb the selling pressure and gain the necessary “fuel,” a push above the $2,400 resistance could open the path toward the $2,500 area before challenging the more formidable resistance at $2,600, which aligns with the 50-day moving average.This article was originally published on U.Today More

At the same time, he took a dig at the second-largest cryptocurrency by market cap, Ethereum.MicroStrategy has been adding large BTC chunks to its balance sheet regularly since August of 2020, and Tether holds Bitcoin among the assets that back the USDT supply issued by it. Michael Saylor’s business intelligence giant now holds an astonishing $8.7 billion worth of Bitcoin, and this, surprisingly, exceeds the company’s market capitalization by $1 billion.Earlier this week, by the way, Michael Saylor called on the cryptocurrency community not to sell their Bitcoin, despite the continuous BTC price plunge that is taking place despite spot ETF approval by the SEC regulatory agency.As for Tether, last quarter, it acquired another Bitcoin stash amounting to $380 million worth of Bitcoin. At the time of this writing, Tether holds 66,465 BTC.Mow stressed the importance of the global flagship cryptocurrency Bitcoin as opposed to the second largest one by market capitalization value – Ethereum.card Mow has recently been tweeting about his expectations for Bitcoin to reach $1 million. Elaborating on that forecast in one of his tweets, the Bitcoiner explained that this prediction should not be expected to be fulfilled instantly, like after the spot Bitcoin ETF was greenlit. What he meant was that the overall market fundamentals for Bitcoin have changed compared to how they stood before.In a tweet published earlier today, Mow stated that the Bitcoin price does not depend on the ETF approval, and it rises of its own accord and at its own pace.This article was originally published on U.Today More

This article was originally published on U.Today More

This article was originally published on U.Today More

This article was originally published on U.Today More

In a recent revelation, Kiyosaki asserted that Bitcoin serves as a crucial defense mechanism against the systematic theft of wealth orchestrated by entities like the Federal Reserve, Treasury and Wall Street bankers. The author contends that these institutions exploit the value of traditional currency through inflation, taxation and manipulation of stock prices.Hence, Kiyosaki has chosen to eschew conventional investment vehicles such as stocks, bonds and fiat currency in favor of the decentralized and inflation-resistant qualities of Bitcoin.While Kiyosaki had previously expressed reservations about Bitcoin’s intrinsic value, he now places it alongside gold and silver as indispensable financial tools. Despite acknowledging the cryptocurrency’s volatility, he envisions Bitcoin as not merely a speculative venture but as a genuine store of value.The financial guru’s endorsement of BTC underscores a paradigm shift in his investment strategy, highlighting the growing prominence of cryptocurrencies as a formidable asset class.This article was originally published on U.Today More

The report posits that allocating just 1% of the $250 trillion global investable asset base to Bitcoin could potentially drive its price to $120,000. However, the more noteworthy projection arises with a 19.4% allocation, forecasting a potential price of $2.3 million. While these figures may raise eyebrows, they underscore the evolving perception of Bitcoin as a legitimate asset class.Highlighting key catalysts for Bitcoin in 2024, the report places a spotlight on the upcoming halving, expected in April. This event, occurring approximately every four years, historically coincides with the initiation of a bull market. The forthcoming halving will reduce Bitcoin’s inflation rate from ~1.8% to ~0.9%, potentially influencing its value.Institutional acceptance also emerges as a crucial factor, with ARK anticipating a shift in perception from viewing BTC as a speculative instrument to recognizing it as a strategic investment in diversified portfolios. Notably, influential figures such as Larry Fink, CEO of BlackRock (NYSE:BLK), have signaled a change in stance toward Bitcoin’s potential as a “flight to quality.”This article was originally published on U.Today More

The 200 EMA serves as an important barometer for the long-term trend and investor sentiment. For XRP, remaining below this level suggests that the asset lacks the bullish momentum needed to shift into an upward trajectory. This inability to secure a foothold above the 200 EMA raises questions about the stability of positive price action in the near term.XRP/USDT Chart by TradingViewTechnical analysis shows that the 200 EMA is a dynamic level of resistance that many traders watch closely. A consistent failure to breach this mark can lead to a self-fulfilling prophecy where the resistance level grows stronger, as more traders set their sell orders around this key price point. The ETH chart reveals a telling pattern; the absence of a new higher high is significant. Typically, in a bullish market phase, the price of an asset creates a series of higher highs and higher lows. However, Ethereum’s inability to push beyond its recent peak may suggest that the bulls are running out of steam and a reevaluation of market sentiment could be underway.Analyzing the chart, the local resistance level has been a tough ceiling for Ethereum to break. This resistance, where sell orders tend to cluster, is acting as a barrier preventing further upward movement. On the flip side, the support level represents a price point with a concentration of buy orders, offering a potential cushion against a price drop. If Ethereum fails to uphold the support level, it could trigger a price breakdown, signaling a shift to a bearish trend.If Ethereum’s price continues to struggle, the scenario could unfold where the asset drops further, testing subsequent support levels. While the underlying fundamentals of Ethereum, such as network upgrades and adoption rates, remain robust, the short-term price action could still be subject to corrective forces.The technical outlook for SOL is looking promising. After a period of bullish activity that piqued the interest of many investors, SOL has hit a snag near the $100 resistance level. This resistance level represents a significant psychological and financial barrier, as it is where sell orders tend to accumulate, putting downward pressure on the price.Despite efforts to rally, the asset has been unable to generate the necessary momentum to overcome this threshold with ease and currently consolidates at it. One of the key factors influencing this lackluster performance could be the market’s tepid reaction to the announcement of Solana phone Saga 2. The news, which might have been expected to inject some enthusiasm onto the market, failed to provide substantial support for Solana’s price.Looking at the chart, the local support levels are clearly delineated. The first line of defense for SOL lies around the $88-$90 price range, where previous dips have found buyers waiting. Should this level fail to hold, the next support may not emerge until it reaches the more robust $70 level, which could act as a stronger foothold for the price.Conversely, resistance beyond $100 is now more formidable than ever. With each rejection, the resolve of buyers weakens, and the $100 level transforms from a mere price point into a crucial psychological level you should not miss.This article was originally published on U.Today More