TAO approaches the important $685 resistance level after a surge in volume and technical strength. Market sentiment is supported by rising open interest, rising MA crossover, and low social dominance. Bit Tensor (TAO) It recently experienced a significant surge in 24-hour trading volume exceeding $500 million, reflecting strong interest and market activity. A surge in activity signals has fueled interest, with TAO’s trading price rising 8.01% over the past 24 hours to $599.66. As a result, TAO’s market cap has reached $4.43 billion at press time, indicating new momentum as it approaches the key resistance level of $685. On the…
Author: Crypto Flexs
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Preliminary results from the US congressional elections show that more than 250 candidates supporting the digital asset sector have entered the new Congress. As FOX Business reports, this election coincided with the presidential election, which Donald Trump won. Journalists point out that representatives of the digital asset industry have donated more than $200 million to cryptocurrency supporters, a record amount. Some cryptocurrency supporters may be able to bypass experienced lawmakers who have been in Congress for years. For example, in Ohio, Republican Bernie Moreno defeated Democrat Sherrod Brown, who had served in Congress for 18 years. In Pennsylvania, votes are…
Bitcoin (BTC) price is attempting to break the $90,000 level but is experiencing some resistance. Let’s take a quick look at why.On the BTC/USDT 1-hour chart, we can see a block of sell orders at $90,000. As BTC price hits these demands, the selling adds some gravitas to the price momentum and the price falls slightly. Another request block can also be seen at $91,150. BTC/USDT 1-hour chart. Source: TRDR.ioLooking at the entire order book, we can clearly see how the $90,000 level is being defended. Count the BTC/USDT order book. Source: TRDR.ioBullish traders would like to break above the…
Ether (ETH) price has surged more than 37% over the past seven days, trading at highs not seen since July 24, as expectations rise about a cryptocurrency-friendly business environment in the United States following Donald Trump’s presidential victory.ETH/USD daily chart. source: TradingViewAt the time of this writing, Ether is trading at $3,392 due to increased demand via the spot Ethereum ETF, and on-chain indicators suggest the altcoin’s upward trend remains intact.Ethereum open interest has reached an all-time high.Ether’s rally over the past seven days has led to an increase in open ETH long positions in the futures market. Ethereum’s total…
Cardano price began a consolidation phase below the $0.6650 area. ADA is holding on to gains and could target a fresh increase above $0.6500. ADA price started a downward correction after a strong rally towards $0.6600. The price is trading above $0.580 and the 100-hour simple moving average. On the hourly chart of the ADA/USD pair, a major contract triangle has formed with support at $0.5780 (data source from Kraken). Breaking out of the $0.6060 resistance area, the pair could begin another rally. Cardano price consolidates gains Over the past few days, Cardano has shown significant gains above the $0.40…
lawrence jenga November 12, 2024 03:50 Binance announces support for Filecoin (FIL) network upgrade and temporarily suspends deposits and withdrawals on November 20, 2024. Transactions will not be affected. Leading cryptocurrency exchange Binance has announced support for the upcoming Filecoin (FIL) network upgrade. According to Binance’s official announcement, the exchange plans to temporarily suspend deposits and withdrawals of FIL tokens from 22:00 UTC on November 20, 2024. Upgrade details The network upgrade is scheduled to take place at block height 4,461,240, which is estimated to occur around 23:00 UTC on the same day. Binance…
The price of Ether (ETH) soared to $3,444 on November 12, hitting its highest level since July. The rally follows Bitcoin (BTC) hitting an all-time high of $89,957 before correcting to $87,000 on November 12. Now, traders are questioning whether excessive leverage in Ether futures could increase the risk of an ETH price correction below $3,200.Ethereum 8-hour funding rate. Source: Laevitas.chPerpetual futures, also known as inverse swaps, have built-in fees to offset excessive leverage demands. When market sentiment is excessively bullish, the funding rate becomes positive. However, cryptocurrency traders tend to be naturally optimistic, so interest rates of up to…
Over $755 million worth of various altcoins will be offloaded during this week’s token unlock period. Solana broke annual record at $220, but linear unlock could cause havoc. Two high-tech Layer-1s, Aptos and Celestia (TIA), secure approximately 2% of the supply. The surprising cryptocurrency market rally following the US election has developed into a new all-time high for Bitcoin (BTC) and massive rallies in several blue-chip altcoins. For example, Aptos (APT), which incorporates Move technology, recovered double-digit figures for the first time since April 2024.Aptos unlocks at a profit.If Aptos’ bullish momentum continues, the altcoin could retest its yearly high…
Canary Capital has applied for the Hedera HBAR cash exchange-traded fund with the U.S. Securities and Exchange Commission. This is the first cryptocurrency fund of its type.The cryptocurrency investment company filed its S-1 registration statement with the SEC on Tuesday. According to the fund, it seeks to “provide exposure to the underlying asset value of the Hedera network.” filing. HBAR is the native digital asset of the Hedera network, a decentralized public network that uses the Hashgraph consensus algorithm. Hedera facilitates fast and secure transactions globally and is governed by a council of prominent companies and organizations. This governance model…
A cryptocurrency strategist who follows closely believes that two altcoins that are invisible to most traders are poised for massive upside. Analyst Ali Martinez told his 78,600 followers on social media platform X that he is bullish on the underlying asset of Filecoin (FIL), a peer-to-peer file storage network. According to analysts, FIL appears poised to rise to the top after honoring its long-term support. Martinez also believes that FIL could witness an exponential rise if it overcomes critical resistance levels. “Despite missing the $2.94 entry, I remain bullish on Filecoin FIL at this level. The lower limit is likely…