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Motor Oil Brand Mobil Super Sponsors Edward Gaming 

Chinese esports organization Edward Gaming (EDG) announced on Saturday that the company has signed a sponsorship deal with the U.S.motor oil brand Exxon Mobil Super.  Financial terms of the deal were not disclosed.  For promoting the sponsorship deal, Exxon Mobil China reached out to the Shanghai government and planned an unmanned aerial vehicle group to […]

The post Motor Oil Brand Mobil Super Sponsors Edward Gaming  first appeared on The Esports Observer.

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Chinese esports organization Edward Gaming (EDG) announced on Saturday that the company has signed a sponsorship deal with the U.S.motor oil brand Exxon Mobil Super

Financial terms of the deal were not disclosed. 

For promoting the sponsorship deal, Exxon Mobil China reached out to the Shanghai government and planned an unmanned aerial vehicle group to fly over Shanghai’s The Bund, a waterfront area and a protected historical district in the central part of the city, EDG told The Esports Observer. 

Mobil Super is also one of the sponsors of China’s top League of Legends competition, the League of Legends Pro League (LPL). In February, British Petroleum’s Castrol also signed a sponsorship deal with Tencent for the Honor of Kings franchise, the King Pro League (KPL). 

Apart from Mobil Super, EDG currently has seven sponsors, including Intel, Razer, gaming social media Bixin, home appliances TCL, electric car HYCAN, and live streaming platform Penguin Esports, among others.

Source: https://esportsobserver.com/mobil-super-sponsors-edward-gaming/?utm_source=rss&utm_medium=rss&utm_campaign=mobil-super-sponsors-edward-gaming

Blockchain

Cardano must remain above this level to revive from current lows or else…

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Cardano, following the lead of Bitcoin and Ethereum was falling today. In fact, in some ways, the third-generation coin has been following the second-generation coin. ADA’s price movement has been imitating ETH’s price action. It is important to consider what this means for the investors. We know they are hit by losses but how bad is that hit? Can they recover from it?

Cardano following Ethereum?

The coin has seen a consistent price fall in the same 5 day period as Ethereum did, falling by 15.08% at press time. At $2.12, things do not look good for ADA holders.

Cardano’s 15.08% drop | Source: TradingView – AMBCrypto

Those who bought ADA for around $2.41, are presently struggling to sell their holdings. As mentioned due to the price falling to $2.14 these people are dealing in losses. At the moment they represent 67% of all ADA investors.

The addresses in profits did not suffer much, however, but those at break-even did. These addresses went into losses and the total number of addresses in loss rose by 4%.

4% Cardano addresses move into losses | Source: Intotheblock – AMBCrypto

These losses further led to the average balance on every Cardano holders’ address dropping from $40k to $37k.

Cardano addresses’ average balance falls | Source: Intotheblock – AMBCrypto

So are there any hopes of recovery?

Hopes of recovery are alive but for that Cardano will have to maintain its strength somehow. Already its correlation to Bitcoin has dropped to 0.71. 

But that hasn’t stopped bullish investors from trying to gain as much profit as possible. The market books show a 16 million ADA worth $34.2 million higher demand for buying even during such a market.

Cardano continues to be bought | Source: Intotheblock – AMBCrypto

At present, $2 is the immediate and critical support. To minimize losses Cardano must remain above it as a fall from it could lead to further downfall.

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Source: https://ambcrypto.com/cardano-must-remain-above-this-level-to-revive-from-current-lows-or-else

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Blockchain

XRP, EOS, Chainlink Price Analysis: 20 September

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Broader crypto market sentiments remained quite bearish over the last 24 hours. The likes of XRP, EOS and Chainlink registered substantial losses.

XRP was trading below a dollar’s mark after over a month’s time. EOS lost 15.4% of its valuation and inched closer to its immediate support level. Lastly, Chainlink declined by 13.5% and was oversold after a gap of multiple months in between. 

XRP

XRP, EOS and Chainlink Price Analysis: 20 September

XRP/USD, TradingView

XRP depreciated 14.6% over the last 24 hours and was trading at $0.90. Immediate support level for the coin was at $0.77. 

Technical outlook suggested negative price action. MACD displayed red bars on the histograms. The Relative Strength Index was near the 20-mark indicating that XRP was oversold. Bollinger Bands diverged, suggesting that price volatility might be on the rise.

Conversely, if XRP’s buying pressure finds its way back, then the first resistance point stands at $1.06. Other price ceilings awaited the alt at $1.20 and $1.31 respectively. 

EOS

XRP, EOS and Chainlink Price Analysis: 20 September

EOS/USD, TradingView

EOS recorded a 15.4% fall over the last 24 hours and was trading at $4.26. The token had last traded around this price level over a month ago. A dip below the current price level could push EOS to trade at $3.90 support line. 

On the four-hour chart, the price of EOS was below the 20-SMA line. This reading meant that momentum belonged with the sellers. The Relative Strength Index was positioned inside the oversold territory.

Chaikin Money Flow was below the half-line as capital inflows also declined. MACD displayed red bars on the histogram. On the flipside, the first resistance mark for the coin was at $4.54. Additional price ceilings were at $5.10 and $5.48. 

Chainlink (LINK)

XRP, EOS and Chainlink Price Analysis: 20 September

LINK/USD, TradingView

Chainlink was priced at $24.07 after it plunged by 13.5% over the last 24 hours. Immediate support line was at $22.50, a price level it last touched on 11 August. The price of LINK was seen below the four-hour 20-SMA, indicating that price momentum belonged to the sellers. 

The Relative Strength Index was on a multi-month low. It was parked near the 20-mark signifying an oversold state. Awesome Oscillator displayed red signal bars. MACD flashed red bars on the histogram. 

In the event of a price reversal, LINK’s immediate resistance was at $27.78. Other resistance lines awaited LINK at $32.37 and $35.83.

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Source: https://ambcrypto.com/xrp-eos-chainlink-price-analysis-20-september

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Blockchain

Altcoins Are Spiking Like Mad, and This Has Analysts Worried

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As altcoins spike heavily in recent weeks, many analysts and crypto heads are worried that the digital currency space is heading into dangerous territory similar with what it saw last May.

Altcoins Are All the Rage Right Now

About four months ago, the digital currency arena saw many assets spiking unexpectedly. Bitcoin, for example, had just reached a new all-time high of approximately $64,000 per unit, while Ethereum also hit a new peak of about $4,000. Many altcoins and competitors to BTC saw their prices jumping to unprecedented levels, though this eventually came back to bite them in the butt.

It wasn’t long before the crypto space saw a nasty dive that ultimately took prices down to their lowest points in many months. Bitcoin lost more than 50 percent of its value at one point, falling (albeit briefly) into the $29,000 range, while ETH fell below $3,000. Many analysts are seeing rises in altcoin prices as of late that are comparable to what happened last May. Thus, there is heavy concern that the same falls could occur not too far down the line.

Assets like Cardano’s ADA, Binance Coin, and Ethereum-competitor Solana have jumped in recent weeks given that many traders are excited about their growing presences in the world of decentralized finance (defi). What’s interesting is that many of these altcoins remain in higher positions despite a recent market selloff that caused several mainstream cryptocurrencies to experience solid drops, so the big question is, “How long before these altcoins slip, and how big will those slips be?”

According to Nikolaos Panigirtzoglou – a global market strategist at JPMorgan – says the current altcoin rally is not sustainable and may lead to a heavy period of gloom and doom for interested traders. In a recent interview, he stated:

There is a big question mark here. Is the hype with Cardano, Binance, Solana, [and other] alternatives to Ethereum justified? Will there be enough traffic in these networks [and] wallet addresses to justify these kinds of valuations?

He says that what’s common is for investors to rush mindlessly into the world of altcoins that are spiking as a means of capturing small gains along the way. He says that this behavior never leads to positive results, and that the market may fall in the coming weeks. He comments:

I think we could have a repeat of what we saw in May.

Maybe Things Aren’t as Scary as They Look

At the time of writing, Solana is up by approximately 318 percent. Cardano’s ADA is up by close to 30 percent, while Ripple’s XRP is trading for about 23 percent higher over the past few weeks.

Curtis Ting – managing director for Europe at crypto exchange Kraken – is one of the few analysts that doesn’t see this leading to anything negative. Rather, he feels that altcoins are helping the market to “reset itself.”

Tags: Altcoins, Curtis Ting, Nikolaos Panigirtzoglou
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Source: https://www.livebitcoinnews.com/altcoins-are-spiking-like-mad-and-this-has-analysts-worried/>

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