The U.S. government has announced a million reward for information leading to the arrest or conviction of Ruja Ignatova, the Onecoin co-founder who is wanted for orchestrating one of the largest global fraud schemes. Ignatova has been a fugitive since 2017 after Onecoin defrauded investors of over billion. US Offers Million Reward […]
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Ethereum Foundation Warns of Compromised Mailing List Leading to Phishing Emails
The mailing list provider used by the Ethereum Foundation for updates was compromised, resulting in a phishing email. Hackers are now using addresses from the breach to send fake emails. These fraudulent emails claim a collaboration between Ethereum and LIDO, promising a high annual percentage yield (APY) for staked assets. Recipients are urged to avoid […]
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Donald Trump Jr. Advocates for Father as Leading Bitcoin Proponent
On Tuesday, Donald Trump Jr. shared an opinion article on the social media platform X and declared that his father Donald Trump is “the best choice for bitcoin.” Trump Jr. Endorses Father as Prime Candidate for Bitcoin, Highlights Bitcoin Magazine Editorial The eldest child of former U.S. President Donald Trump and his first wife Ivana […]
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Tron Price (TRX) Surges Ahead: Leading the Altcoins Pack
Tron price is gaining pace above the .1150 resistance against the US Dollar. TRX is outperforming Bitcoin and could rise further above .1180.
- Tron is moving higher above the .1150 resistance level against the US dollar.
- The price is trading above .1155 and the 100-hourly simple moving average.
- There is a key bullish trend line forming with support at .1160 on the hourly chart of the TRX/USD pair (data source from Kraken).
- The pair could continue to climb higher toward .1200 or even .1220.
Tron Price Regains Strength
Recently, Bitcoin and Ethereum saw a fresh decline below ,500 and ,750 respectively. However, Tron price remained stable above the .1120 support and even climbed higher.
There was a decent move above the .1150 resistance zone. TRX price cleared many hurdles and gained over 3%. There was a move above the .1165 level. A high is formed at .1170 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the .1102 swing low to the .1170 high.
Tron price is now trading above .1160 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at .1160 on the hourly chart of the TRX/USD pair.
On the upside, an initial resistance is near the .1170 level. The first major resistance is near .1180, above which the price could accelerate higher. The next resistance is near .1200. A close above the .1200 resistance might send TRX further higher toward .1225. The next major resistance is near the .1320 level, above which the bulls are likely to aim for a larger increase toward .150.
Are Dips Supported in TRX?
If TRX price fails to clear the .1200 resistance, it could start a downside correction. Initial support on the downside is near the .1160 zone.
The first major support is near the .1150 level or the 100 simple moving average (4 hours), below which it could test .1140. Any more losses might send Tron toward the .1136 support in the coming sessions.
Technical Indicators
Hourly MACD – The MACD for TRX/USD is gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level.
Major Support Levels – .1160, .1150, and .1136.
Major Resistance Levels – .1180, .1200, and .1220.
Best 4 Altcoins to Buy for 10x Profits in June 2024: PolitiFi Tokens Leading The Charge
With the cryptocurrency market constantly evolving, investors are always on the lookout for the next big opportunity. Here, we highlight the top four altcoins that are poised to offer substantial returns in 2024.
1. MAGA VP ($MVP)
MAGA VP ($MVP) is making waves in the crypto community with its unique blend of political engagement and rewarding mechanisms. Known for its strong community support and strategic partnerships, $MVP offers token holders rewards in $TRUMP tokens and participates in significant political events. Recent developments include the launch of a new app featuring a prize pool for voting activities, making it a compelling investment for 2024.
2. NOT Token
Notcoin is a Telegram-based game that has garnered the interest of millions of players in recent months. The game has amassed a total of 35 million players, reaching a peak of six million daily active users. This makes it significantly more popular than most other crypto games.
After experiencing a retracement from its previous high, Notcoin (NOT) has started to show significant bullish momentum, capturing the attention of both traders and investors alike. This continuing upward trend suggests a strong level of market confidence and growing optimism regarding its future potential.
3. Solana (SOL)
Solana continues to be a favorite among investors due to its high-speed transactions and scalability. Solana (SOL) is an open-source project leveraging blockchain’s permissionless structure to provide decentralized finance (DeFi) solutions.
The platform has experienced a surge in the total value locked (TVL) in its DeFi applications. This trend is also boosting the popularity of meme coins on the Solana blockchain. Should market conditions shift, this dynamic could position Solana as a noteworthy crypto asset, making it one of the top altcoins poised for significant growth.
4. Ethereum (ETH)
Ethereum remains a cornerstone of the cryptocurrency market. With ongoing upgrades like Ethereum 2.0 and ETF involvement, ETH is set to maintain its position as a leading investment option. Despite facing criticism for high transaction fees, Ethereum remains a dominant force in the crypto space, powering thousands of applications and other altcoins with its robust blockchain infrastructure.
Conclusion
Investing in altcoins can be highly rewarding, especially with thorough research and strategic choices. The altcoins listed here, including MAGA VP ($MVP) and NOT Token, are set to deliver impressive returns in 2024. Stay informed and consider diversifying your portfolio with these promising assets.
Cover image from MAGA VP, Chart from Tradingview
Meme Coin Market Rises 4.6% With Presidential Meme Token BODEN Leading the Pack
With bitcoin exceeding ,000 on Wednesday, the leading meme coins experienced notable increases over the last 24 hours. Shiba inu (SHIB) advanced 7.7% in the past day, while dogecoin (DOGE) rose 2.1%. Among the top five meme coins by market capitalization, floki (FLOKI) saw a 21.2% increase over the past day. However, BODEN emerged as […]
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FLOKI Token Reaches 417,400 Holders, Leading Memecoin on BNB Chain
The memecoin FLOKI recently crossed 417,400 holders on the BNB Chain, making it the biggest memecoin on that blockchain by market capitalization and number of holders. Recently, the Floki developers launched a new Telegram-based trading bot that allows holders to trade any token on the BNB Chain network, charging a 1% fee, with 50% of […]
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This Bitcoin Metric Is “One Of Crypto’s Top Leading Indicators”: Santiment
The on-chain analytics firm Santiment has explained how this Bitcoin indicator has been one of the top leading indicators in the cryptocurrency market.
Holdings Of Bitcoin Investors With At Least 10 BTC May Correlate To Price
In a new post on X, Santiment has discussed about a metric that has historically been one of the top leading indicators in the sector. The metric in question is the total amount of supply held by the Bitcoin investors carrying at least 10 BTC in their wallets.
At the current exchange rate of the cryptocurrency, this cutoff is equivalent to around 3,000. As such, the investors holding sums of this scale or higher would be larger than the regular retail holders.
Key groups such as sharks and whales fall in this range. These cohorts are generally considered to be influential beings, so their behavior can be worth keeping an eye on.
While the 10+ BTC group wouldn’t solely include these large investors, the trend in its holdings would still at least in part encapsulate what these key holders would be doing.
Now, here is a chart that shows the trend in the combined holdings of investors carrying balance in this range over the last few years:
As displayed in the above graph, the Bitcoin supply held by investors belonging to this group has been going up recently, suggesting that accumulation has been occurring from the large holders.
According to Santiment, there has historically been a pattern between the price and the behavior of the investors falling in this range. “When they accumulate, cryptocurrencies rise. When they dump, extended bear markets come,” explains the analytics firm.
Instances of this trend are also visible in the chart. The supply held by this cohort started rising in October 2019 and kept up the rise throughout the bull run that followed in 2021.
In February 2022, the behavior of these Bitcoin investors changed, however, as their combined holdings started heading down instead. This led into the bear market.
The decline stopped after the FTX crash back in November 2022 and the holdings of these investors took to sideways movement in 2023. At the end of the year, another shift finally happened as the metric gained an uptrend.
This accumulation likely kicked off because of the imminent spot exchange-traded fund (ETF) approval in January. These investors kept up this buying pressure post-approval as well, which all culminated into the rally towards the new all-time high (ATH).
Despite the struggle that Bitcoin has faced recently, the trend in the indicator hasn’t flipped. As such, more bullish price action could be ahead for the asset, if historical pattern is to go by.
BTC Price
Bitcoin has fallen back to sideways movement recently, with its price trading around ,300 at the moment.
Bitcoin Price Struggles: Can the Leading Cryptocurrency Start Fresh Increase?
Bitcoin price extended its decline below the ,000 level. BTC is now slowly moving lower toward the ,250 support zone in the near term.
- Bitcoin extended its downside correction below the ,000 zone.
- The price is trading below ,500 and the 100 hourly Simple moving average.
- There is a key bearish trend line forming with resistance at ,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to move down unless there is a close above the ,500 level.
Bitcoin Price Dips Further
Bitcoin price extended its downside correction below the ,000 level. BTC bears were able to push the price below the ,000 support. Finally, the price tested the ,000 zone.
A low has formed at ,100 and the price is now consolidating losses. It recovered above the ,5000 level and the 23.6% Fib retracement level of the downward wave from the ,600 swing high to the ,100 low, with a bearish angle.
Bitcoin is now trading below ,500 and the 100 hourly Simple moving average. On the upside, the price is facing resistance near the ,000 level. There is also a key bearish trend line forming with resistance at ,900 on the hourly chart of the BTC/USD pair.
The first major resistance could be ,800 or the 50% Fib retracement level of the downward wave from the ,600 swing high to the ,100 low.
The next key resistance could be ,250. A clear move above the ,250 resistance might send the price higher. In the stated case, the price could rise and test the ,000 resistance. Any more gains might send BTC toward the ,600 resistance.
More Losses In BTC?
If Bitcoin fails to climb above the ,000 resistance zone, it could continue to move down. Immediate support on the downside is near the ,250 level.
The first major support is ,000. The next support is now forming near ,250. Any more losses might send the price toward the ,000 support zone in the near term.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – ,100, followed by ,250.
Major Resistance Levels – ,000, and ,800.
Bitcoin Breaks $70K Barrier, Leading to $27.75M in Liquidations
The price of bitcoin has exceeded ,000, increasing by 2.1% during today’s trading sessions. This latest rise led to the liquidation of .75 million in bitcoin short positions. Bitcoin Trades Above K, Leading to Multi-Million Dollar Liquidations Bitcoin (BTC) is up 2.1% today and 3% over the past seven days. The price has also risen […]
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