Please share if you find this article interesting. Battered DeFi Market Continues Descent: Compound, Synthetix, Balancer Slip 10% The beaten and bruised decentralized finance (DeFi) market has continued its descent despite a rally in Bitcoin’s price. Top coins pertaining to this segment of the crypto space have continued to slide lower. Coins such as Compound (COMP), Synthetix Network Token (SNX), Balancer (BAL), and a handful of others have dropped in excess of 10% in the past 24 hours. To put their performance into context, Bitcoin is down by only 0.1% in the past 24 hours. Furthermore, Ethereum has shed 1.8% in the past 24 hours, a performance far better than the coins based on its network. 14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradi
Please share if you find this article interesting. Yearn.finance (YFI) Resumes Downtrend Following Rejection at $20,000 Yearn.finance’s YFI token has been subjected to immense volatility over the past few days. A variety of different factors have played a role in this, including a myriad of community drama coupled with continued weakness across the aggregated DeFi sector. This catalyzed a capitulatory selloff that sent the DeFi giant reeling down to lows of $16,000 earlier this week, which came about in the form of a violent decline that was followed by a sharp “v-shaped” recovery to over $20,000. 14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradise! Play Now! This recovery has been short-lived, however, as YFI is now in the process of reeli
Please share if you find this article interesting. Uniswap’s UNI Crashes Below $3.00 as Analysts Eye Further Downside Uniswap’s newly released governance token – called UNI – has taken a serious beating throughout the past few days, with its price bearing witness to unrelenting selling pressure that has slowed its ascent and caused it to shatter multiple key technical levels. Analysts are now growing concerned with the cryptocurrency’s near-term outlook, as its latest bout of selling pressure has struck a serious blow to its market structure. One analyst is now noting that the last ditch support level he was closely watching has been shattered, and that significantly further downside could be imminent in the coming days. 14 BTC & 95,000 Free Spins for every player, only in mBitc
Please share if you find this article interesting. SushiSwap (SUSHI) Vies for Buyers as Liquidity Pool Loses Out $1.13B There is nothing delicious about SUSHI anymore. The SushiSwap decentralized exchange’s governance token continued on its downtrend as its price fell another 15 percent in the new week. As of 1130 UTC, SUSHI/USD was trading at $0.75, down 94 percent from its record high at $12.48, a level achieved on September 1, 2020. 14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradise! Play Now! Trust Issues The SushiSwap liquidity pool also suffered a major blow. The total valued locked (TVL) inside it plunged from $1.428 billion on September 12 to circa $289 million as of today. That marked withdrawals of almost $1.13 billion in just
Please share if you find this article interesting. Bitcoin Forms Pivotal Long-Term Uptrend Signal Last Seen in 2014 Bitcoin has traded in a relatively tight $2,000 range over the past two months after a rejection in the $12,000 region. The slow price action in the leading cryptocurrency also comes as legacy markets, such as the S&P 500 and precious metals, have undergone some stagnation. Bitcoin’s inability to break higher after retaking crucial long-term supports has led some investors to fear that the cryptocurrency market is primed to see a strong reversal lower. Fortunately for bulls, it was just confirmed that a long-term uptrend signal just recently confirmed that should indicate more upside is to come. The signal was last formed in 2014, prior to the bull trend that took B
Please share if you find this article interesting. Ripple (XRP) Smashes Key Resistance: Dips Could Be Attractive To The Bulls Ripple rallied further 4% and it cleared the main $0.2550 resistance against the US Dollar. XRP price is now showing bullish signs, and dips could find strong bids near $0.2500 or $0.2450. Ripple extended its rally above the $0.2520 and $0.2550 resistance levels against the US dollar. The price traded to a new weekly high at $0.2589 and settled above the 100 simple moving average (4-hours). There was a break above a significant bearish trend line with resistance near $0.2425 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could correct lower, but the previous resistance near $0.2550 or $0.2450 could provide support. Ripple Pric...
Please share if you find this article interesting. Ethereum Key Indicators Suggest A Strong Rally if it Clears $355 Ethereum is trading near a major resistance zone at $355 against the US Dollar. ETH price is likely to accelerate higher once there is a proper close above $355. Ethereum is attempting a major upside break above the key $355 resistance zone. The price must stay above the 100 hourly simple moving average and $350 for a possible bullish break. There is a key contracting triangle forming with resistance near $355 on the hourly chart of ETH/USD (data feed via Kraken). The pair could also decline heavily below $350 if it continues to struggle near $355. Ethereum Price is Testing Crucial Resistance Ethereum started a fresh recovery wave from the $335 support level. ETH pr...
Please share if you find this article interesting. Uniswap’s UNI Could Drop a “Lot Lower” as Key Support Level Risks Breaking Uniswap’s UNI token has been sliding lower over the past few days, and there’s no end in sight to its ongoing descent. The strength of this selloff has been intense and has struck a serious blow to both investor sentiment and its market structure. Many analysts are now noting that the cryptocurrency is at risk of seeing significantly further downside in the days and weeks ahead, which may come about regardless of how the entire market trends. 14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradise! Play Now! If UNI incurs a downtrend independent from the rest of the market, this could further perpetuate the weakness it h
Please share if you find this article interesting. Crypto Market Analysis: 5th October 2020 The S&P 500 rose steadily through the week to 3,348 by Friday evening as it recovered the ground lost last week. By contrast, the STOXX 600 and FTSE All-Share showed very little signs of life, ending the week much as they started it at 362 and 3,294, respectively. In crypto, bitcoin has continued to show remarkably low levels of volatility, while altcoins had a mixed bag of a week, with Cardano and Binance Coin on upwards trajectories and Chainlink, Tron, Tezos and Neo all taking hits. The Solidity of the $10,000 Bitcoin Bitcoin displayed remarkable consistency last week, nearly touching the $11,000 mark at times but spending most of the time hovering between $10,700-10,800. There was some...
Please share if you find this article interesting. Calls for YFI Crash Grows as It Confirms Traditionally Bearish Setup At least two traders have confirmed their bearish bias for YFI, a token that represents the year’s most popular decentralized finance project, yearn.finance. The pseudonymous entities noted that YFI/USD’s recent price moves made a so-called Head and Shoulder Pattern. So it appears, the pair formed three peaks atop a single baseline-like support level. The middle peak was higher than the other two, which made it look like one big head with two lowered shoulders on both sides. H&S is a trend reversal pattern, according to Investopedia. 14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradise! Play Now! YFI/USD confirms the H&S