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BNB Price Poised for Fresh Increase: Will Momentum Build?

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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Will TRUMP Price Hit a Yearly Low Ahead of the Elections?

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TRUMP price has witnessed a notable decline in the past few weeks. The Trump-inspired meme coin is now trading at $3.31, reflecting a 27% decline over the past week.

With the election just one week and six days away, TRUMP is poised to revisit its yearly low of $1.70. This analysis explores the factors making that scenario increasingly likely.

MAGA Sees Spike in Selloffs

TRUMP’s price has declined by 22% in the past 24 hours. During the same period, its trading volume has totaled $12 million, rising by 122%. 

When an asset’s price drops while its trading volume skyrockets, it indicates strong selling pressure in the market. The combined interpretation of this trend suggests that many TRUMP traders are selling off their positions. This shows that holders are losing confidence in the asset as the election date approaches, prompting a rush to sell.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

TRUMP Price/Volume
TRUMP Price/Volume. Source: Santiment

TRUMP’s negative Chaikin Money Flow (CMF) supports this bearish outlook. As of this writing, this indicator is in a downtrend, below the zero line at -0.04.

The CMF indicator measures money flow into and out of an asset. When its value is above zero,  it indicates that an asset is being accumulated, suggesting bullish sentiment, as buying pressure exceeds selling pressure.

Conversely, a CMF reading below zero suggests a bearish sentiment. It signals that selling pressure dominates the market, and downward momentum will likely continue.

TRUMP CMF
TRUMP CMF. Source: TradingView

Furthermore, TRUMP’s double-digit decline has pushed its price below the 20-day exponential moving average (EMA), which tracks its average price over the past 20 trading days. 

This is a bearish signal because it suggests that Trump’s short-term trend is weakening. It indicates that the meme coin sellers are gaining control and have pushed its price below the moving average of the past 20 days.

TRUMP 20-Day EMA
TRUMP 20-Day EMA. Source: TradingView

TRUMP Price Prediction: Meme Coin May Revisit Yearly Low

If the current trend continues, TRUMP’s price is at risk of revisiting its yearly low of $1.70, marking a 48% decline from its current value. However, if market sentiment shifts from bearish to bullish and new demand for the meme coin surges, TRUMP’s price could rebound and begin an uptrend.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

TRUMP Price Analysis
TRUMP Price Analysis. Source: TradingView

In this scenario, it would aim to break through resistance at $5.49. If successful, TRUMP could potentially rally further, targeting $11.64.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Scroll Airdrop Takes Center Stage

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The crypto market encountered a setback yesterday as Bitcoin (BTC) fell short in its attempt to reach $70,000. Despite this, several other cryptos managed to maintain their positions on the list of altcoins trending today.

Among these, some coins showcased solid performance, while others trended for different reasons despite not delivering strong results. As of today, October 22, the top three trending altcoins on CoinGecko are Scroll (SCR), Solidus Ai Tech (AITECH), and KOALA AI (KOKO).

Scroll tops the list of altcoins trending today due to its native token, SCR. On Monday, October 21, Scroll, a leading zero knowledge rollup built on Ethereum, announced the launch of SCR. According to its official statement, the launch also comes with an airdrop for contributors and its community.

“We’ve allocated 55,000,000 SCR tokens (5.5% of the total supply) to participants who have actively contributed to the Scroll ecosystem through their on-chain activities in our Sessions Program. Out of this allocation, 40,000,000 SCR (4% of the total supply) are proportionally allocated among onchain participants who have accumulated 200 or more Marks as of October 19, 2024,” the project wrote.

One reason Scroll is trending is the controversy surrounding its airdrop allocation. On X (formerly Twitter), numerous early adopters are expressing frustration over transacting thousands of dollars on the chain only to receive SCR tokens valued significantly less.

For example, a pseudonymous user with the handle Picolas Cage noted that this allocation means that the project has lost a six-figure DeFi user.

Read more: 10 Best Crypto Exchange Reviews for October 2024

Scroll trending altcoin list
Scroll Daily Price Chart. Source: TradingView

Meanwhile, as seen above, SCR launched at approximately $1.70. However, its value has dropped in the last 24 hours and is currently trading at $1.24. In addition, it might be too early to predict SCR’s next price movement, as it seems to still be in price discovery mode.

Solidus Ai Tech (AITECH)

This is the third time AITECH is on BeInCrypto’s trending altcoins list. This time, the price did not increase as it has seen a modest 3% decline in 24 hours. However, it remains on this list due to the broader market interest in the project

On the daily chart, the Relative Strength Index (RSI) has dropped below the 50.00 neutral region. This suggests that the momentum around the token is bearish, and the recent downturn can accelerate.

If that remains the same, then SCR’s price might retrace to$0.080 from $0.094, where it currently stands. However, if buying pressure increases, the prediction might invalidated, and the trending altcoin’s value might jump to $0.12.

AITECH price analysis altcoins trending today
Solidus Ai Tech Daily Price Analysis. Source: TradingView

KOALA AI (KOKO)

KOALA AI is another altcoin that has previously appeared on this list. Like the previous time, KOKO is trending because of its massive price increase. 

Over the last 24 hours, KOKO’s price has increased by 125% and currently sits at $0.0000067. Based on the daily chart, the Bollinger Bands (BB) has expanded, indicating a high level of volatility around the cryptocurrency.

However, the upper band of BB has touched KOKO’s price, indicating that it is overbought and a decline looms. Assuming the lower band tapped the price, it would have been termed oversold. 

Read more: Which Are the Best Altcoins To Invest in October 2024?

KOALA AI price analysis trending altcoins
KOALA AI Daily Price Analysis. Source: TradingView

Considering this current condition, the altcoin’s value might drop by 20% to $0.0000055. On the other hand, if bulls continue to buy the token, it might sustain the uptrend and could rally to $0.0000084.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Will Bulls Step In to Protect the Trend?

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Este artículo también está disponible en español.

Ethereum price struggled to continue higher above the $2,750 resistance. ETH started a downside correction and traded below the $2,680 support.

  • Ethereum started a downside correction below the $2,680 support.
  • The price is trading below $2,650 and the 100-hourly Simple Moving Average.
  • There was a break below a key bullish trend line with support near $2,680 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh increase if it clears the $2,650 and $2,680 resistance levels.

Ethereum Price Trims Gains

Ethereum price remained stable above the $2,620 level like Bitcoin. ETH extended gains above the $2,650 resistance level to move further into a positive zone.

However, the bears remained active near the $2,765 level. A high was formed at $2,765 and the price started a downside correction. There was a break below a key bullish trend line with support near $2,680 on the hourly chart of ETH/USD.

The pair dipped below the $2,650 level. A low was formed at $2,626 and the price is now consolidating near the 23.6% Fib retracement level of the downward move from the $2,757 swing high to the $2,626 low.

Ethereum price is now trading below $2,680 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,665 level. The first major resistance is near the $2,700 level. It is close to the 50% Fib retracement level of the downward move from the $2,757 swing high to the $2,626 low.

Ethereum Price
Source: ETHUSD on TradingView.com

A clear move above the $2,700 resistance might send the price toward the $2,725 resistance. An upside break above the $2,725 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,780 resistance zone in the near term. The next hurdle sits near the $2,840 level or $2,880.

More Downsides In ETH?

If Ethereum fails to clear the $2,680 resistance, it could start another decline. Initial support on the downside is near the $2,625 level. The first major support sits near the $2,600 zone.

A clear move below the $2,600 support might push the price toward $2,550. Any more losses might send the price toward the $2,500 support level in the near term. The next key support sits at $2,440.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,600

Major Resistance Level – $2,680



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