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Fantom (FTM) Technical Analysis: The Growth Trend Is Too Strong to End

FTM Technical Analysis

Rate this post https://www.tradingview.com/x/eIfZRVW1/ The weekly candle in the FTM market closed with a hint of the beginning of the growth wave correction on 21 July. Buyers failed to fix above the closing price of the previous weekly candle. At the same time, trading volumes fell twice last week. The global initiative in the FTM market has changed, although this is not yet felt in small timeframes. Seeing the failed attempt of buyers to continue to grow within the global growth channel, investors stopped transferring capital into this cryptocurrency. And they decided to convince the strength of buyers. Given the fact that sellers failed to update the local low of the previous weekly candle over the past week, we can assume the continuation of a narrow consolidation at local FTM price highs. In this scenario, the probability of continuing the growth wave without correction will significantly increase. For this scenario, buyers should not be allowed to update the local low of $1.1335 during this week. However, failure to meet this condition will quickly move the price to $0.87. This mark contains the previous historical high. Technical Analysis of FTM on the Daily Timeframe https://www.tradingview.com/x/PWmhhLDH/ Analyzing the movement of the FTM price on the daily timeframe, we can see two main critical points on the way to the formation of the growth wave from 21 July. Throughout the local growth trend, trading volumes increased markedly in two places on the chart – near the mark of $0.87 and near the mark of $1.4. In principle, until 30 August, buyers managed to raise the FTM price without volumes. This constantly provoked the thought of market weakness and the likelihood of a sharp price correction. However, between 30 August and 9 September, trading in the FTM market increased approximately 5 times. It is likely that during this period in the FTM market there was the unloading of positions of medium-term investors. This is evidenced by a rather weak growth result at such anomalous volumes. If during 9 days of the FTM price growth till 30 August the price grew by approximately 10%-15%, then after the increase in trading volumes in 5 times, the price growth became 15%-20% per day. The FTM price on the middle line of the orange growth channel adds spice to the FTM market. This price position is quite favorable for both the beginning of a sharp fall wave and a sharp growth wave. Loss by buyers of the local mark of $1.12 will lead to a collapse of the price to the mark of $0.87. Though, it is only necessary to fix buyers above $1.5 so that the continuation of price growth to $2.5 becomes the only possible scenario in the FTM market. The FTMBTC Price Hints at Consolidation with Further Growth https://www.tradingview.com/x/98zSeDFp/ Analyzing the FTMBTC chart, we see that after a long lull, the market has finally come to life. Buyers keep the price well and create favorable conditions for the start of consolidation on a weekly timeframe to collect new positions. Such facts increase the probability of a positive scenario in the FTM market, even if the BTC price correction continues. Given the accelerating growth trend on the FTMBTC chart, selling this cryptocurrency to a long-term investor may be the wrong decision. Nevertheless, to enter the FTM market, we should expect a test of the $0.87 mark.

The post Fantom (FTM) Technical Analysis: The Growth Trend Is Too Strong to End appeared first on Cryptoknowmics-Crypto News and Media Platform.

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TradingView Chart

The weekly candle in the FTM market closed with a hint of the beginning of the growth wave correction on 21 July. Buyers failed to fix above the closing price of the previous weekly candle. At the same time, trading volumes fell twice last week. The global initiative in the FTM market has changed, although this is not yet felt in small timeframes.

Seeing the failed attempt of buyers to continue to grow within the global growth channel, investors stopped transferring capital into this cryptocurrency. And they decided to convince the strength of buyers. Given the fact that sellers failed to update the local low of the previous weekly candle over the past week, we can assume the continuation of a narrow consolidation at local FTM price highs.

In this scenario, the probability of continuing the growth wave without correction will significantly increase. For this scenario, buyers should not be allowed to update the local low of $1.1335 during this week. However, failure to meet this condition will quickly move the price to $0.87. This mark contains the previous historical high.

Technical Analysis of FTM on the Daily Timeframe

TradingView Chart

Analyzing the movement of the FTM price on the daily timeframe, we can see two main critical points on the way to the formation of the growth wave from 21 July. Throughout the local growth trend, trading volumes increased markedly in two places on the chart – near the mark of $0.87 and near the mark of $1.4. In principle, until 30 August, buyers managed to raise the FTM price without volumes. This constantly provoked the thought of market weakness and the likelihood of a sharp price correction.

However, between 30 August and 9 September, trading in the FTM market increased approximately 5 times. It is likely that during this period in the FTM market there was the unloading of positions of medium-term investors. This is evidenced by a rather weak growth result at such anomalous volumes. If during 9 days of the FTM price growth till 30 August the price grew by approximately 10%-15%, then after the increase in trading volumes in 5 times, the price growth became 15%-20% per day.

The FTM price on the middle line of the orange growth channel adds spice to the FTM market. This price position is quite favorable for both the beginning of a sharp fall wave and a sharp growth wave. Loss by buyers of the local mark of $1.12 will lead to a collapse of the price to the mark of $0.87. Though, it is only necessary to fix buyers above $1.5 so that the continuation of price growth to $2.5 becomes the only possible scenario in the FTM market.

The FTMBTC Price Hints at Consolidation with Further Growth

FTM

https://www.tradingview.com/x/98zSeDFp/

Analyzing the FTMBTC chart, we see that after a long lull, the market has finally come to life. Buyers keep the price well and create favorable conditions for the start of consolidation on a weekly timeframe to collect new positions. Such facts increase the probability of a positive scenario in the FTM market, even if the BTC price correction continues.

Given the accelerating growth trend on the FTMBTC chart, selling this cryptocurrency to a long-term investor may be the wrong decision. Nevertheless, to enter the FTM market, we should expect a test of the $0.87 mark.

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Source: https://www.cryptoknowmics.com/news/fantom-ftm-technical-analysis-the-growth-trend-is-too-strong-to-end/

Blockchain

Supra Partners #25 — SupraOracles partners with Web 3.0 powerhouse reBaked

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SupraOracles

SupraOracles is delighted to partner with reBaked on a variety of projects in the NFT, metaverse, and DAO (decentralized autonomous organization) space. reBaked is a crowd building DAO platform that grows Web 3.0 ecosystems and finds innovative solutions to DeFi’s most pressing challenges.

SupraOracles will supply real-time data feeds for reBakeds Playshare, an exciting play-to-earn platform that encourages creativity and community gameplay. SupraOracles’ oracle services also track off-chain voting data and distribute it on the blockchain, allowing DAOs to execute decisions transparently — a solution that will be used for reBaked BUILD. Other reBaked-SupraOracles collaborations include cross-chain bridges for NFTs in the metaverse, fast-paced hackathons using reBaked’s CrowdHack, and other stealth-mode projects.

Nikolaos Kostopoulos, Co-Founder of reBaked, commented: “We are excited to work closely with the SupraOracles team, which is undoubtedly one of the strongest technical teams we have worked with. This is verifiable by the number of grants they have received from leading blockchains and tech organisations such as NEAR, Arweave, Digital Ocean, Polygon, Tezos, Dfinity, Zilliqa, and more. SupraOracles team will play an integral role in bringing to life promising projects such as reBaked BUILD, Pioneers, and PlayShare which are DAPPs and Governance Protocols with case studies that involve external data.”

Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented: “reBaked’s impact in the Web 3.0 ecosystem is admirable, to say the least. We are proud to be working with them on such a diverse range of projects! SurpaOracles is looking forward to a long-term and symbiotic partnership with reBaked.”

About SupraOracles

SupraOracles strives to bridge the gap between traditional capital markets and the Web3.0 ecosystem. Our vision and driving mission is to empower the developer community with a novel oracle toolset so that they may conveniently create, deploy, and manage data applications with superior performance, robustness, and agility.

Our project is supported by seasoned professionals with experience in the architecture of consensus mechanisms, randomness research, real-time data services, investment banking, digital securities, traditional stock exchanges, big data, doctoral academia, big 4 consulting, blockchain/DLT, and DeFi.

Together with our developer community and growing list of partners, SupraOracles aims to solve the oracle dilemma and ultimately, power the future of finance.

Join SupraOracles’ community: Website | Twitter | Telegram | LinkedIn | Announcements | Medium

About reBaked

reBaked is building a set of governance, management, and operations tools for DAOs and Web 3.0 ecosystems to better distribute and manage their treasuries- by focusing on value creation.

Our projects across different niche markets help networks to align incentives with contributors- safeguarding the long-term success, and financial well-being of blockchain ecosystems. Tools are designed to offer collaboration tools, growth mechanisms, and governance infrastructure to help projects achieve shared goals

Our protocol allows Web 3.0 Projects to get enhanced deliverables faster, build stronger community bonds, decentralize faster, and achieve a better return of value to the stakeholders.

Our native token $BAKED is backed by ecosystem treasuries accumulated by incubated projects, which are actively managed by the RBKD DAO.

Join reBaked’s Community: Telegram Community | Twitter | Youtube | Medium | Announcements

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Source: https://medium.com/@SupraOracles/supra-partners-25-supraoracles-partners-with-web-3-0-powerhouse-rebaked-da94149bf670?source=rss——cryptocurrency-5

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Blockchain

China asks McDonald’s to Expand Digital Yuan Use Across Outlets, Here’s Why

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By

Prashant Jha

Published 5 seconds ago Updated 5 seconds ago

China is now looking for an aggressive digital yuan push right before the winter olympics. The national soverign digital currency whose development was completed in 2019 is currently being widely tested across various provinces in China before the official launch. The latest report from Financial Times noted that the Chinese government has asked fast-food giant McDonald’s to expand digital yuan use across its chain.

Digital yuan is currently being accepted as payment across 270 outlets across China, however, the report suggests the Chinese authorities want the fast-food outlet to increase digital yuan acceptance along with the likes of other retail giants such as VISA and Nike. One of the spokespeople for McDonald’s in China said,

 “Shanghai is our pilot city and we will learn from customers’ response.”

Is China Planning Official Digital Yuan Launch by Winter Olympics

China is currently at the forefront 0f CBDC development compared against nearly 180 other countries working towards their own soverign digital currency. The reason for its advancement in the field could be attributed to an early start. China ordered the development of the digital yuan back in 2014 and it was finally completed after five years. While speculations about a possible official launch have been rife since the last quarter of 2019, the latest push before the Winter Olympics indicates a possible launch before the games.

A majority of the other nations working towards their CBDC are years behind, but most recently France tested the use of CBDC in government bond settlements and carried out nearly 500 operations during the trial. South Korea and Russia have stated that the pilot programs for their CBDC would begin by early 2022, while the United States is still in the pre-development phase.

Many believe the most recent crackdown and crypto ban imposed by the Chinese Central Bank was done keeping the launch of the digital yuan in mind. Given the governance in China, the government doesn’t recognize any private digital assets as a form of currency or exchange.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Source: https://coingape.com/china-asks-mcdonalds-to-expand-digital-yuan-use-across-outlets-heres-why/

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ACN Newswire

Zeronauts Assessment Platform Goes Live in Q4 2021

Wil, Switzerland, Oct 20, 2021 – (ACN Newswire) – Recently, Zeronauts has launched the beta tester program for their crypto assessment platform. The official platform will go live at the end of Q4/2021.

Zeronauts is the first crypto review platform from the crypto community for the community with a focus on sustainability. The Swiss crypto project Zeronauts emerges as a leader and pioneer in creating a more sustainable crypto market. Based on the crypto token ZNS, it pursues the vision of bringing ecological and social responsibility to crypto.

The challenge of an unsustainable crypto market

The team behind Zeronauts has recognized the issue that the concept of sustainability has been strongly neglected in crypto. The crypto market is known for fraud, pump and dump schemes and the high energy consumption of Bitcoin. 98% of cryptos that were created during the crypto bubble between 2016 and 2018 do not exist anymore. Most projects were scams or colossal failures. Unfortunately, the negative image of crypto also hits long-term valuable crypto projects that have found a way to use the Blockchain technology in a meaningful way.

In this market circle, it is about time that investors can easily differentiate between long-term promising or in other words sustainable crypto tokens and unsustainable ones.

How Zeronauts transforms the crypto industry

This is where Zeronauts enters the game. Zeronauts builds a community-based rating platform for cryptos. Different to other rating platforms, Zeronauts uses scientific methodologies that consider economic, social and ecological factors to rate cryptos. There is a clear focus on assessing the long-term success of crypto tokens. To scale the Zeronauts rating platform quickly, it uses a unique approach to involve the whole crypto community to write assessments. ZNS transaction fees are used to reward community members for their service of writing crypto ratings. As Zeronauts grows, this can become extremely lucrative for token auditors. All assessments are reviewed by the Zeronauts team before they are uploaded to the assessment platform to guarantee a high-quality standard. With this approach, Zeronauts aims to become the largest crypto rating platform in a short time period.

Zeronauts searches beta testers for their assessment platform. Interested crypto community members can register for the “Become a Zeronaut” program: Become a Zeronaut – Zeronauts. The assessment platform goes live in Q4/2021.

The Zeronauts labels – a unique and meaningful NFT use case

Based on the rating platform, Zeronauts introduces sustainability NFT labels to the crypto market. This allow investors to identify very easily sustainable crypto tokens. They do not waste time and money on one of the many existing scams.

Crypto projects can request an audit of their token for a fee. When their token meets the Zeronauts sustainability standards, they earn a Zeronauts NFT label.

Zeronauts implements a label tier system with bronze, silver, gold and a diamond labels. As the labels are NFTs, they are stored on a blockchain, where everyone can verify the label authenticity.

Part of the audit fee is directly reinvested into the ZNS token. That means, the more assessments are written, the higher the ZNS price will be. This makes the ZNS token also extremely interesting for investors.

Zeronauts NFT label tier system with bronze, silver, gold and diamond labels

Zeronauts mission to become the central authority for a sustainable crypto movement

Sustainability is a clear trend in the crypto market and will become much more important in the future. Especially with stronger regulations, there is a high need for differentiating between sustainable and non-sustainable crypto tokens.

Building a fast growing and highly active assessment platform is the first important milestone for the Zeronauts project. The project team has a clear vision that even the largest crypto tokens will strive for a Zeronauts label to proudly show their efforts in building a sustainable token.

Yet, the Zeronauts project will not stop there. Long-term goals include building the Zeronauts DEX, a decentralized and sustainable exchange platform as well as a learning platform with focus on sustainability.

About Zeronauts

The work done by Zeronauts is one of a kind. The team behind Zeronauts are Swiss blockchain enthusiasts who share the passion for the crypto universe. Driven for something bigger than themselves, with great commitment, revolutionary thinking and team spirit, they are up to revolutionize the crypto space and make it much more sustainable. The company incorporation will take place at the beginning of next year.

Social Links
Twitter: https://twitter.com/Zeronauts_io
Instagram: https://instagram.com/zeronauts
Twitter: https://twitter.com/Zeronauts_io
Telegram: https://t.me/Zeronauts

Media Contacts
Company: Zeronauts
Contact: Simon Nef, Director of Partnership
Email: info@zeronauts.io
Website: https://zeronauts.io



Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com

Published

on

Wil, Switzerland, Oct 20, 2021 – (ACN Newswire) – Recently, Zeronauts has launched the beta tester program for their crypto assessment platform. The official platform will go live at the end of Q4/2021.

Zeronauts is the first crypto review platform from the crypto community for the community with a focus on sustainability. The Swiss crypto project Zeronauts emerges as a leader and pioneer in creating a more sustainable crypto market. Based on the crypto token ZNS, it pursues the vision of bringing ecological and social responsibility to crypto.

The challenge of an unsustainable crypto market

The team behind Zeronauts has recognized the issue that the concept of sustainability has been strongly neglected in crypto. The crypto market is known for fraud, pump and dump schemes and the high energy consumption of Bitcoin. 98% of cryptos that were created during the crypto bubble between 2016 and 2018 do not exist anymore. Most projects were scams or colossal failures. Unfortunately, the negative image of crypto also hits long-term valuable crypto projects that have found a way to use the Blockchain technology in a meaningful way.

In this market circle, it is about time that investors can easily differentiate between long-term promising or in other words sustainable crypto tokens and unsustainable ones.

How Zeronauts transforms the crypto industry

This is where Zeronauts enters the game. Zeronauts builds a community-based rating platform for cryptos. Different to other rating platforms, Zeronauts uses scientific methodologies that consider economic, social and ecological factors to rate cryptos. There is a clear focus on assessing the long-term success of crypto tokens. To scale the Zeronauts rating platform quickly, it uses a unique approach to involve the whole crypto community to write assessments. ZNS transaction fees are used to reward community members for their service of writing crypto ratings. As Zeronauts grows, this can become extremely lucrative for token auditors. All assessments are reviewed by the Zeronauts team before they are uploaded to the assessment platform to guarantee a high-quality standard. With this approach, Zeronauts aims to become the largest crypto rating platform in a short time period.

Zeronauts searches beta testers for their assessment platform. Interested crypto community members can register for the “Become a Zeronaut” program: Become a Zeronaut – Zeronauts. The assessment platform goes live in Q4/2021.

The Zeronauts labels – a unique and meaningful NFT use case

Based on the rating platform, Zeronauts introduces sustainability NFT labels to the crypto market. This allow investors to identify very easily sustainable crypto tokens. They do not waste time and money on one of the many existing scams.

Crypto projects can request an audit of their token for a fee. When their token meets the Zeronauts sustainability standards, they earn a Zeronauts NFT label.

Zeronauts implements a label tier system with bronze, silver, gold and a diamond labels. As the labels are NFTs, they are stored on a blockchain, where everyone can verify the label authenticity.

Part of the audit fee is directly reinvested into the ZNS token. That means, the more assessments are written, the higher the ZNS price will be. This makes the ZNS token also extremely interesting for investors.

Zeronauts NFT label tier system with bronze, silver, gold and diamond labels

Zeronauts mission to become the central authority for a sustainable crypto movement

Sustainability is a clear trend in the crypto market and will become much more important in the future. Especially with stronger regulations, there is a high need for differentiating between sustainable and non-sustainable crypto tokens.

Building a fast growing and highly active assessment platform is the first important milestone for the Zeronauts project. The project team has a clear vision that even the largest crypto tokens will strive for a Zeronauts label to proudly show their efforts in building a sustainable token.

Yet, the Zeronauts project will not stop there. Long-term goals include building the Zeronauts DEX, a decentralized and sustainable exchange platform as well as a learning platform with focus on sustainability.

About Zeronauts

The work done by Zeronauts is one of a kind. The team behind Zeronauts are Swiss blockchain enthusiasts who share the passion for the crypto universe. Driven for something bigger than themselves, with great commitment, revolutionary thinking and team spirit, they are up to revolutionize the crypto space and make it much more sustainable. The company incorporation will take place at the beginning of next year.

Social Links
Twitter: https://twitter.com/Zeronauts_io
Instagram: https://instagram.com/zeronauts
Twitter: https://twitter.com/Zeronauts_io
Telegram: https://t.me/Zeronauts

Media Contacts
Company: Zeronauts
Contact: Simon Nef, Director of Partnership
Email: info@zeronauts.io
Website: https://zeronauts.io


Topic: Press release summary
Source: Zeronauts


https://www.acnnewswire.com

From the Asia Corporate News Network

Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Source: https://www.acnnewswire.com/press-release/english/70368/

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