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A Pause Before the Next Move?

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Bitcoin price extended gains above the $69,200 resistance zone. BTC is now correcting gains and trading near the $67,500 pivot level.

  • Bitcoin struggled to test the $70,000 resistance zone and corrected some gains.
  • The price is trading below $68,500 and the 100 hourly Simple moving average.
  • There was a break below key contracting triangle with support at $68,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start a fresh increase unless there is a close below the $66,500 zone.

Bitcoin Price Dips To Support

Bitcoin price remained supported above the $66,500 zone. BTC started another minor increase above the $68,500 resistance zone. The bulls were able to clear the $69,200 barrier.

However, there was no test of the $70,000 resistance zone. A high was formed near $69,428 and the price is now correcting gains. There was a minor decline below the $68,000 level. There was a break below key contracting triangle with support at $68,500 on the hourly chart of the BTC/USD pair.

The pair tested the $66,500 support. It is now consolidating above the 23.6% Fib retracement level of the downward move from the $69,428 swing high to the $66,564 low.

Bitcoin price is now trading below $68,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $68,000 level or the 50% Fib retracement level of the downward move from the $69,428 swing high to the $66,564 low.

Bitcoin Price
Source: BTCUSD on TradingView.com

The first key resistance is near the $68,750 level. A clear move above the $68,750 resistance might send the price higher. The next key resistance could be $69,200. A close above the $69,200 resistance might initiate more gains. In the stated case, the price could rise and test the $70,000 resistance level. Any more gains might send the price toward the $70,500 resistance level.

More Losses In BTC?

If Bitcoin fails to rise above the $68,000 resistance zone, it could start another decline. Immediate support on the downside is near the $67,000 level.

The first major support is near the $66,800 level. The next support is now near the $66,500 zone. Any more losses might send the price toward the $65,500 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $66,800, followed by $66,500.

Major Resistance Levels – $68,000, and $68,500.



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Chirp’s Game Launch & Privasea’s Node Sale

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Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.

Here’s the latest in the DePin sector: Chirp celebrated two full years of operation and announced its game launch next week, MapMetrics released quality-of-life improvements for its navigation app, and Privasea is conducting a node sale with CVPad.

Chirp Celebrates Two Years

Chirp, the DePin network and IoT ecosystem, celebrated its second birthday on October 18. The firm’s announcement described 2022 and 2023 as years of fundamental construction: laying foundations, building partnerships, and beginning to expand its fledgling network. 2024, however, has been a year of launches, like the airdrop anticipating their CHIRP token’s launch:

“As we celebrate Chirp’s anniversary, we look to the medium and long-term, we are returning to our core vision: building the most innovative IoT solutions within an inclusive decentralized ecosystem. Our goal is to continue strengthening the Chirp network, ensuring that the CHIRP token is deeply integrated with our IoT solutions,” the announcement stated.

The announcement went on to ask, “what’s a birthday without presents?”. The present in question is Chirp’s long-awaited P2E DePin mobile game, which has an impending launch date. Specifically, this launch will take place next week, and users will immediately be able to earn CHIRP tokens. The firm also included an in-game screenshot to hint at its gameplay.

Read More: What Is DePIN (Decentralized Physical Infrastructure Networks)?

Chirp Game Teaser Screenshot
Chirp Game Teaser. Source: Chirp

MapMetrics’ Key Improvements

MapMetrics, a “drive-to-earn” navigation app and GameFi token earner, has greatly enhanced several of its services. In an update for both Android and iOS users, MapMetrics rolled out several quality-of-life features and bug fixes for its navigation functions. These include filtering searches by city, new GPS functionality, and visibility for nighttime driving conditions.

Read More: Tap-to-Earn: What to Know About the Crypto GameFi Trend

In other words, MapMetrics’ updates focused on the app’s navigation features, not its token-earning platform. The firm wishes to ensure that MapMetrics remains a “top-tier navigation tool”, which will help attract and retain users of the GameFi aspects. Additionally, it will continue prioritizing “a stable and refined experience” in future updates.

Privasea’s Node Sale

Privasea, an AI and DePin network, also announced another node sale through project launcher CVPad. This is one of several node sales from Privasea this year, and its August sale sold out in 48 hours. This sale will also feature an airdrop component, such that only these nodes will be eligible for an upcoming token airdrop.

Privasea works to combat fraud and ensure privacy in AI computations. With an impressive list of backers and $10 million in investor funding, the company’s ImHuman app employs its “Proof of Human” tech to verify users’ identities. Whitelisting for this node sale began on October 15, and will continue until October 28.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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SushiSwap Unveils Roadmap: Here’s What’s Coming

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DEX SushiSwap unveiled a roadmap for its future development, promising to “Swap Everything”. The announcement particularly focused on their new Route Processor technology, and how it will impact users.

SushiSwap also mentioned several other features, like a “Native DEX” ecosystem and community outreach opportunities.

SushiSwap’s New Direction

Decentralized exchange (DEX) SushiSwap recently unveiled its roadmap for future development. With two words: Swap Everything, the firm outlined a vision for next-level liquidity access.

“The recently released Route Processor is not just an upgrade – it’s leveling up our multi-chain capabilities x10. It scours the market to find the best routes, delivering top-tier liquidity, competitive rates and access to more tokens than ever. Our swap and aggregation stack is unmatched… with liquidity from hundreds of sources and deepest pools,” it claimed.

Read More: How To Use SushiSwap: A Step-by-Step Guide

SushiSwap may need a major upgrade to regain its status as a prominent DEX. Its SUSHI token hit bottom this June, and this trend continued with further bearish signals as community members questioned the platform’s technical weaknesses.

The platform attempted to reverse this course in September when it released Dojo, a meme coin launchpad. Dojo’s main focus was on preventing pump-and-dump schemes in an already crowded meme coin market, but SUSHI’s price barely budged. A new technical refresh could be the solution to revitalize long-term interest in the platform.

Moreover, despite the launch of the new roadmap, the SUSHI token has been struggling. In the past 24 hours, it is down by over 5%, currently trading at $0.7581.

SushiSwap’s roadmap paid particular attention to the Route Processor. It aggregates liquidity sources from 35 different blockchains and builds upon the DEX platform’s existing infrastructure.

The announcement boasted of increased user convenience, options, and decreased costs due to these upgrades, but it also discussed several other points of interest.

Read More: SushiSwap (SUSHI) Price Prediction 2024/2025/2030

In particular, SushiSwap has also been working on an ecosystem of “Native DEXs,” creating integrated new platforms that cater to specific networks. SushiSwap hopes to onboard new users by offering a broad range of convenient services to customers on these affiliated platforms.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Crypto Airdrops to Watch: SupraOracles, Aptos, Scroll, Eclipse

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The crypto market continues to show strength, with Bitcoin eyeing the $70,000 psychological level. Amidst the broader market optimism, well-informed investors are now eyeing crypto airdrops as a potentially lucrative avenue.

For investors and crypto enthusiasts, these airdrops offer the chance to acquire new tokens and join the vibrant crypto communities. Airdrops aim to distribute free tokens while attracting new followers and expanding user bases. This week, there are four significant airdrops to watch.

SupraOracles: Countdown to Blast off

SupraOracles is airdropping free SUPRA tokens after the Snapshot on October 21. The fundraiser raised $26.52 million, and participants included Coinbase Ventures, HashKey Capital, Animoca Brands, and HTX Ventures.

Users who completed simple airdrop tasks, including participating in the airdrop campaign and completing tasks, can now see the eligible tokens. The users can also select a token claim plan to confirm the token claim method, with participants that fail to choose expected to be enrolled into a 30-month vesting plan automatically.

Read more: What are Crypto Airdrops?

Additionally, SupraOracles has unleashed another activity named Supra Starcade, with 250 million SUPRA tokens allocated. It comes amid a bigger prize pool and more user transactions. Participants will have to guess the prices of different tokens, and all activities will take place in the test network.

Following an October 19 snapshot, new developments have emerged in the Scroll airdrop. The project recently raised $80 million in a fundraiser led by Polychain Capital, with participation from Variant, IOSG, and Bain Capital Crypto. This brings the Scroll airdrop closer to fruition.

The momentum comes after the listing of Scroll’s SCR token on Binance’s launch pool, setting the stage for formal community rewards. The SCR token will debut on major cryptocurrency exchanges on Tuesday, October 22, alongside the launch of the claim portal, allowing farmers to redeem the airdrop.

The airdrop will likely be based on marks accumulated by various Ethereum addresses. On-chain footprint criteria will also be used to filter out Sybil attackers and bots. As reported by BeInCrypto, 1 billion SCR tokens will be available, with 15% allocated to the airdrop, split into two phases of 7% and 8%.

Despite this, community sentiment around the airdrop appears sour. Concerns have arisen about the team’s ability to offer substantial rewards to over 2 million active addresses. Additionally, speculation suggests that some insiders may have unfairly accumulated large amounts of marks.

“Scroll team is so greedy! After allocating %23 to themselves, they also chose to sybil the airdrop by allocating team addresses 1m+ marks each,” said Anon Vee, a crypto investor and trader on X.

Eclipse: Blockchain Infrastructure Token Watchlist

Eclipse, the first Ethereum Layer-2 solution powered by Solana Virtual Machine (SVM), has raised $65 million from investors including Polychain Capital and Delphi Ventures. Tribe Capital, Hack VC, and Placeholder Ventures also co-led contributions.

Although the reward date remains uncertain, Eclipse is among the potential airdrops expected this week. To participate, users will need to mint NFTs as the project’s mainnet or official bridge becomes operational.

“To honor this milestone, claim “Path of Discovery”, a commemorative NFT designed by Nio on Scope. Mint is open for 7 days,” Eclipse wrote.

Notably, participants must add the Eclipse network to their wallets before minting the NFTs, with the bridge allowing a minimum of 0.002 ETH per transaction.

Aptos: Production Ready Blockchain

In the pursuit of new projects, airdrop farmers could forget about existing giants like Aptos. Based on the project’s tokenomics, 51% of tokens are allocated for community rewards. The airdrop also comes as a celebration of the second anniversary of the launch of the mainnet.

Against these backdrops, Aptos has raised $350 million in a fundraiser co-led by Binance Labs, Andreessen Horowitz (a16z), DragonFly Capital, FTX Ventures, and Jump Crypto. Other participants include Coinbase Ventures, Circle, and Multicoin Capital.

With this, it also passes as a potential airdrop with participation involving NFT minting. Aptos released a limited edition NFT to celebrate the second anniversary of the launch of the mainnet.

“Cheers to Two Years! If you’re here, you’re early to celebrate the 2nd Anniversary of Aptos Mainnet, we’ve released a commemorative AptosTwo NFT—available for a limited time. Mint yours today and tell all your friends you were first,” Aptos shared.

Read more: Best Upcoming Airdrops in 2024

While it did not indicate whether there will be an airdrop for this NFT, the mint is free and can give bonuses from Aptos, as well as projects from the Aptos ecosystem. 

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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