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Dogecoin Is in a Fresh Downtrend, Poises to Revisit the $0.21 Low

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May 30, 2021 at 08:23 // News

As the downtrend resumes, then the bears may want to push DOGE price to the lows

On May 29, 2021, Dogecoin (DOGE) price was in another downtrend. Now the token is in trade at the level of $0.30 at the time of writing.

Dogecoin (DOGE) Price Long-term Prediction: Bullish

Following the last bearish impulse last week buyers and sellers have been in price tussle between $0.28 and $0.38. Buyers attempted to push the DOGE price above the moving averages but were repelled. The bulls were rejected at $0.36 and $0.38 resistance which caused the altcoin to resume selling pressure. As the downtrend resumes, then the bears may want to push DOGE price to the lows of either $0.24 or $0.21. 

In the previous price action, the market fell to these lows but the bulls bought the dips. On May 20, DOGE price corrected upward but was resisted at $0.44. This plunged the altcoin to a $0.24 low. Again, the bulls bought the dips as the price corrected upward to $0.38. Dogecoin continued its downward correction before the last rejection at $0.36. 

Dogecoin (DOGE) Indicator Reading 

Now the DOGE/USD pair price has broken below the 21-day and 50-day SMAs which suggest a further downward movement of the prices. Dogecoin is below the 40% range of the daily stochastic. This indicates that the market has bearish momentum. The 21-day SMA and 50-day SMAs are sloping downward.

DOGE_-_COINIDOL,_May_29.png

Technical indicators:  

Major Resistance Levels – $0.80 and $0.85

Major Support Levels – $0.45 and $0.40

What is the next direction for Dogecoin (DOGE)?

Dogecoin has resumed a fresh downtrend as price breaks below the moving averages. The downtrend on May 10 with a retraced candle body tested the 61.8 % Fibonacci retracement level indicates that the altcoin will fall to level 1.618 Fibonacci extension or level $0.18. 

DOGE_-_COINIDOL_2_CHART,_May_29.png

Disclaimer. This analysis and forecast are the author’s personal opinions, are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.

Source: https://coinidol.com/doge-price-fresh-downtrend/

Blockchain

EGLD Technical Analysis: Breakout of Price Beyond $240.83 Seen, Bullish Day Ahead

EGLD Technical Analysis: Breakout of Price Beyond $240.83 Seen, Bullish Day Ahead

Rate this post Elrond is described as a part of the technology ecosystem for the new internet, including, fintech, decentralized finance, and even the Internet of Things. Elrond platform is capable of performing 15,000 transactions per second, with a latency of six seconds. Let us look at the technical analysis of EGLD. Past Performance On September 16, 2021, EGLD started trading at $241.89. As of September 22, 2021, the closing price of EGLD was $230.51. Thus, in the past week, the EGLD price has decreased by roughly 4.90%. And, in the last 24 hours, EGLD has traded between $202.34-$241.99. https://www.tradingview.com/x/iqVxlFYS/ EGLD Technical Analysis The EGLD price is in a regression trend, which is trading in an upward direction. The price takes support from the support line of the trend and bounces back to the mid-range level. Currently, the price is trading near the mid-range and its long-term resistance level. As per the Elrond market behavior, we can expect it to give a breakout from this range.  Let us see what the indicators are indicating: Currently, EGLD is trading at $240.83. The price has increased from the opening price. Thus, we can witness some bullish momentum in the EGLD token. However, on the chart, we can see that the price is trading in an upward direction. A breakout can be on the horizon. On the daily chart, the MACD and Signal lines are in the positive zone. Moreover, by forming a bearish crossover by the MACD line over the Signal line. Thus, the overall market momentum is bearish, and we can expect the EGLD price to fall. However, both the lines are close to the zero lines and may change signs soon. Thus, there may be a trend reversal on the horizon. The RSI indicator is at 57%. It is currently resisting itself to move upward. Thus, the buying pressure can be seen mounting slowly. Hence, we can expect the price to rise again after a few hours. Day-Ahead and Tomorrow The EGLD price has fallen below the Fibonacci pivot point of $250. As some of the oscillators have shown bullish signals, we can expect the price to rise above the Fibonacci pivot level of $249.35 soon. A breakout from this level will highlight the next resistance at $273. The price has tested and fallen below the 23.6% FIB retracement level of $249.37. If the price falls below the 23.6% FIB extension level after some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well. Furthermore, the price can retest the support level at $202.87.

The post EGLD Technical Analysis: Breakout of Price Beyond $240.83 Seen, Bullish Day Ahead appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Elrond is described as a part of the technology ecosystem for the new internet, including, fintech, decentralized finance, and even the Internet of Things. Elrond platform is capable of performing 15,000 transactions per second, with a latency of six seconds. Let us look at the technical analysis of EGLD.

Past Performance

On September 16, 2021, EGLD started trading at $241.89. As of September 22, 2021, the closing price of EGLD was $230.51. Thus, in the past week, the EGLD price has decreased by roughly 4.90%. And, in the last 24 hours, EGLD has traded between $202.34-$241.99.

TradingView Chart

EGLD Technical Analysis

The EGLD price is in a regression trend, which is trading in an upward direction. The price takes support from the support line of the trend and bounces back to the mid-range level. Currently, the price is trading near the mid-range and its long-term resistance level. As per the Elrond market behavior, we can expect it to give a breakout from this range.  Let us see what the indicators are indicating:

Currently, EGLD is trading at $240.83. The price has increased from the opening price. Thus, we can witness some bullish momentum in the EGLD token. However, on the chart, we can see that the price is trading in an upward direction. A breakout can be on the horizon.

On the daily chart, the MACD and Signal lines are in the positive zone. Moreover, by forming a bearish crossover by the MACD line over the Signal line. Thus, the overall market momentum is bearish, and we can expect the EGLD price to fall.

However, both the lines are close to the zero lines and may change signs soon. Thus, there may be a trend reversal on the horizon.

The RSI indicator is at 57%. It is currently resisting itself to move upward. Thus, the buying pressure can be seen mounting slowly. Hence, we can expect the price to rise again after a few hours.

Day-Ahead and Tomorrow

The EGLD price has fallen below the Fibonacci pivot point of $250. As some of the oscillators have shown bullish signals, we can expect the price to rise above the Fibonacci pivot level of $249.35 soon. A breakout from this level will highlight the next resistance at $273.

The price has tested and fallen below the 23.6% FIB retracement level of $249.37. If the price falls below the 23.6% FIB extension level after some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well. Furthermore, the price can retest the support level at $202.87.

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Source: https://www.cryptoknowmics.com/news/egld-technical-analysis-breakout-of-price-beyond-240-83-seen-bullish-day-ahead/

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Blockchain

Bitcoin, Ether, or XRP – The crypto of choice for terror funding is…

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It has been a tense time for Coinbase. The crypto-exchange recently felt the regulatory squeeze when the United States SEC reportedly threatened to sue if Coinbase launched its high-interest crypto product – Lend.

These developments, however, haven’t stopped the exchange from highlighting its efforts towards compliance. A recently-released Twitter thread is a case in point.

The crypto-exchange yesterday shared statistics about cryptocurrencies’ link to global terrorism, and what it is doing to combat the threat.

Coinbase investigates

Cryptocurrency’s “links” to terrorism are a major reason behind the FUD among international policymakers and regulators.

And yet, a report by Coinbase’s Special Investigations Team found that “illicit activity” made up less than 1% of all activities in the crypto-space in 2020. This was an observation arrived at after looking at the BTC, ETH, LTC, BCH, and XRP blockchains or ledgers.

About terrorism, the report stated,

“Further breaking down illicit activity, we find that transactions associated with terrorist financing (TF) in 2020 made up less than 0.05% of all illicit volume. As such, terror funding in cryptocurrencies remains extremely low in overall terms.”

It’s worth noting, however, that the report identified the Palestinian militant group Hamas as having raised the most funds among terrorist organizations.

Do terrorists have any preferences?

According to the said report, Hamas has collected more than $750,000 in Bitcoin since 2018. After Hamas, the Saudi-led jihadi activist movement has raised more than $250,000 in Bitcoin and altcoins. In third place, came an Al Qaeda-related exchange service.

Source: Coinbase Blog

Bitcoin was the most prominent crypto in terrorism financing, but the report also identified the growing popularity of altcoins such as XRP and Ether.

Bitcoin’s popularity could be due to its status as the biggest crypto and the coin’s relative stability. Meanwhile, XRP’s use case is similar to the cross-border hawala remittance practice common in Middle Eastern and South Asian cultures.

In order to stop terror funding campaigns, Coinbase claimed it would “blocklist” crypto-addresses related to such institutions, use its analytics, and work with agencies like the FBI.

Analyzing Hamas

Put simply, the Palestinian organization aims to destroy Israel. It has two main components – A military force and a social welfare arm.

In 2020, Chainalysis reported how the organization’s Izz ad-Din al-Qassam Brigades (AQB) launched multiple campaigns to raise Bitcoin donations. Their tactics included instructional videos for both basic and experienced tech users, as well as unique payment addresses for every donor.

While crypto-terror funding is a small part of the vast DeFi sector, traders can expect to see more exchanges and companies keeping a watch on organizations classified as terror groups.

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Source: https://ambcrypto.com/bitcoin-ether-or-xrp-the-crypto-of-choice-for-terror-funding-is

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Blockchain

British Bitcoin Miner Argo Reveals IPO Pricing for Nasdaq

Argo IPO Nasdaq

Rate this post British Bitcoin miner Argo Blockchain Plc is gearing up to list its IPO on the Nasdaq Global Select Market at the price of $15 per share. Bitcoin Mining Firm Argo Blockchain Reveals  IPO Pricing for Nasdaq Argo Blockchain, a crypto mining firm registered on the London Stock Exchange, announced the pricing for its initial public offering (IPO) in the US on Wednesday. The firm stated that its 7,500,000 American Depositary Shares (“ADSs”) will be sold for the price of $15.00 per ADS.  The IPO, which will trade under the ticker ARBK from September 23, will be available to investors through the RobinHood IPO access portal. According to a September 22 release, the IPO sale is being managed by banking heavyweights Barclays and Jeffries. The institutions are acting as the offering’s main book-running managers, while Canaccord Genuity and Stifel GMP are acting as co-lead managers. Compass Point, D.A. Davidson & Co., Ladenburg Thalmann, Roth Capital Partners, finnCap Ltd, and Tennyson Securities are serving as the IPO’s co-managers. As a crypto mining business, Argo made £5.6 million in July and £6.8 million in August. It also claims to hold 1,659 Bitcoin and Bitcoin equivalents worth £56,898,756 million as of August 31. Upcoming Projects and Controversies Like many crypto mining businesses, Argo is expanding its operations in North America.  Earlier this month, the company entered into a financial arrangement with Galaxy Digital to develop a 200 watt Bitcoin mining facility in Texas. The resulting complex will provide an additional boost to Argo’s existing facilities which have a total of 21,000 mining rigs that can generate over 1,075 petahash per second. That said, the deal has been criticized by industry experts who believe Argo had overpaid up to 10 times while purchasing the property for the Texas plant. Meanwhile, Argo’s CEO Peter Wall justified the expenses on social media. “We feel like it was a fantastic bargain for the project in Texas since it wasn’t simply a land acquisition, it was a project acquisition,” he stated.

The post British Bitcoin Miner Argo Reveals IPO Pricing for Nasdaq appeared first on Cryptoknowmics-Crypto News and Media Platform.

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British Bitcoin miner Argo Blockchain Plc is gearing up to list its IPO on the Nasdaq Global Select Market at the price of $15 per share.

Bitcoin Mining Firm Argo Blockchain Reveals  IPO Pricing for Nasdaq

Argo Blockchain, a crypto mining firm registered on the London Stock Exchange, announced the pricing for its initial public offering (IPO) in the US on Wednesday.

The firm stated that its 7,500,000 American Depositary Shares (“ADSs”) will be sold for the price of $15.00 per ADS. 

The IPO, which will trade under the ticker ARBK from September 23, will be available to investors through the RobinHood IPO access portal.

According to a September 22 release, the IPO sale is being managed by banking heavyweights Barclays and Jeffries. The institutions are acting as the offering’s main book-running managers, while Canaccord Genuity and Stifel GMP are acting as co-lead managers. Compass Point, D.A. Davidson & Co., Ladenburg Thalmann, Roth Capital Partners, finnCap Ltd, and Tennyson Securities are serving as the IPO’s co-managers.

As a crypto mining business, Argo made £5.6 million in July and £6.8 million in August. It also claims to hold 1,659 Bitcoin and Bitcoin equivalents worth £56,898,756 million as of August 31.

Upcoming Projects and Controversies

Like many crypto mining businesses, Argo is expanding its operations in North America. 

Earlier this month, the company entered into a financial arrangement with Galaxy Digital to develop a 200 watt Bitcoin mining facility in Texas. The resulting complex will provide an additional boost to Argo’s existing facilities which have a total of 21,000 mining rigs that can generate over 1,075 petahash per second.

That said, the deal has been criticized by industry experts who believe Argo had overpaid up to 10 times while purchasing the property for the Texas plant. Meanwhile, Argo’s CEO Peter Wall justified the expenses on social media.

“We feel like it was a fantastic bargain for the project in Texas since it wasn’t simply a land acquisition, it was a project acquisition,” he stated.

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://www.cryptoknowmics.com/news/british-bitcoin-miner-argo-reveals-ipo-pricing-for-nasdaq/

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