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As Bitcoin Climbs, Can XRP Price Catch The Wave?

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2 hours ago

October 21, 2024

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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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Related Topics:Bitcoin Catch Climbs Price Wave XRP

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Dogecoin (DOGE) Sets Sights on $0.150: Will The Rally Take Off?

Published

13 mins ago

October 21, 2024

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Dogecoin is rising above the $0.1350 resistance zone against the US Dollar. DOGE is now showing positive signs and might clear the $0.1450 resistance.

DOGE price started a fresh increase above the $0.1320 resistance level.
The price is trading above the $0.1350 level and the 100-hourly simple moving average.
There is a key bullish trend line forming with support at $0.1420 on the hourly chart of the DOGE/USD pair (data source from Kraken).
The price could gain bullish momentum if it clears the $0.1450 and $0.1465 resistance levels.

Dogecoin Price Eyes More Upsides

Dogecoin price started a fresh increase above the $0.1200 resistance zone. DOGE gained traction for a move above the $0.1320 resistance zone, beating Bitcoin and Ethereum. There was also a move above the $0.1350 and $0.1400 resistance levels.

The price traded as high as $0.1467 and recently saw a minor downside correction. The price dipped below the $0.1420 level. It traded below the 23.6% Fib retracement level of the upward move from the $0.1206 swing low to the $0.1467 high.

However, the bulls are active above the $0.1350 level. There is also a key bullish trend line forming with support at $0.1420 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.1320 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1465 level. The next major resistance is near the $0.1480 level.

A close above the $0.1480 resistance might send the price toward the $0.1520 resistance. Any more gains might send the price toward the $0.1550 level. The next major stop for the bulls might be $0.1585.

Are Dips Supported In DOGE?

If DOGE’s price fails to climb above the $0.1465 level, it could start another decline. Initial support on the downside is near the $0.1420 level. The next major support is near the $0.1400 level.

The main support sits at $0.1335 or the 50% Fib retracement level of the upward move from the $0.1206 swing low to the $0.1467 high. If there is a downside break below the $0.1335 support, the price could decline further. In the stated case, the price might decline toward the $0.1250 level or even $0.1220 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.

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

Major Support Levels – $0.1465 and $0.1500.

Major Resistance Levels – $0.1420 and $0.1335.

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Market

Are Crypto VCs Betting on AI Tokens for the Bull Market?

Published

1 hour ago

October 21, 2024

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Investment in artificial intelligence (AI) within the crypto space surged dramatically in the past quarter, accompanied by a significant uptick in investor interest this month.

Hence, it appears that the crypto venture capitalists (VCs) might be betting big on the AI narrative for the next cycle.

Crypto VCs Invest Over $213 Million in AI During Q3

A recent report from Messari revealed that VCs poured over $213 million into AI-related projects last quarter. This figure marks a 340% increase year-over-year and a 2.5x jump from the Q2.

Amount of VCs investing in AI by quarter. Source: Messari.

According to Messari, in addition to projects focused on leveraging AI for decentralized platforms, many AI initiatives have entered various market sectors. These projects now combine AI with social networks, DeFi, and DePin, among others. Moreover, a recent report indicated that AI tokens have the potential to outperform meme coins.

“While overall venture funding in Q3 2024, totaling $3.8 billion, represented a slight dip compared to previous quarters. The strong focus on AI and DePIN suggests that venture capitalists are positioning themselves for long-term growth in sectors they believe will define the next phase of the crypto industry,” Messari commented.

Investor Interest in AI Rises in October

Data from Kaito shows that AI-themed discussions reached a new high in October, with mindshare surpassing 50%. This metric tracks the level of community discussions on a specific topic, and the higher the percentage, the greater the investor interest.

Moreover, the rising interest in AI parallels the resurgence of Nvidia’s (NVDA) stock price to record highs. Last week Nvidia’s market capitalization hit an all-time high of $3.41 trillion, making it the second-largest company globally by market cap.

According to The Kobeissi Letter, Nvidia’s stock has skyrocketed by 190% year-to-date, making it the second-best-performing company in the S&P 500.

This data highlights the correlation between Nvidia’s stock and the growing interest in AI within the crypto market. As such, Nvidia’s upcoming earnings report in November could impact AI token prices.

At the time of writing, the market cap for AI tokens stands at $36.7 billion, a 100% increase from its August low. According to CoinMarketCap, the daily trading volume for AI tokens has reached $1.7 billion.

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 Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

Is This The Start of a Bigger Run?

Published

3 hours ago

October 21, 2024

admin

Este artículo también está disponible en español.

Bitcoin price extended gains above the $68,000 resistance zone. BTC is now consolidating and aiming for more gains above the $69,500 resistance.

Bitcoin remained stable and extended gains above the $68,500 zone.
The price is trading above $68,500 and the 100 hourly Simple moving average.
There is a key contracting triangle forming with support at $68,750 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could rally further if there is a close above the $69,450 resistance zone.

Bitcoin Price Rises Toward $70,000

Bitcoin price remained supported above the $67,500 zone. BTC started another minor increase above the $68,000 resistance zone. The bulls were able to clear the $68,800 barrier.

The price even cleared the $69,000 level. A high was formed near $69,428 and the price is now consolidating gains. There was a minor decline below the $69,000 level, but the price is stable above the 23.6% Fib retracement level of the upward move from the $66,644 swing low to the $69,428 high.

Bitcoin price is now trading above $68,200 and the 100 hourly Simple moving average. There is also a key contracting triangle forming with support at $68,750 on the hourly chart of the BTC/USD pair.

On the upside, the price could face resistance near the $69,200 level. The first key resistance is near the $69,500 level. A clear move above the $69,500 resistance might send the price higher. The next key resistance could be $70,000.

A close above the $70,000 resistance might initiate more gains. In the stated case, the price could rise and test the $71,200 resistance level. Any more gains might send the price toward the $72,000 resistance level.

Another Decline In BTC?

If Bitcoin fails to rise above the $69,500 resistance zone, it could start another decline. Immediate support on the downside is near the $68,750 level and the triangle’s trend line.

The first major support is near the $68,050 level and the 50% Fib retracement level of the upward move from the $66,644 swing low to the $69,428 high. The next support is now near the $67,400 zone. Any more losses might send the price toward the $66,500 support in the near term.

Technical indicators:

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

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

Major Support Levels – $68,750, followed by $68,500.

Major Resistance Levels – $69,500, and $70,000.

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