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Cardano (ADA) at Risk: Breakdown Signal Suggests Further Decline

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Cardano price started a fresh decline from the $1.00 zone. ADA is consolidating and might continue to move down below the $0.9350 support.

  • ADA price started a fresh decline from the $1.00 zone.
  • The price is trading below $0.950 and the 100-hourly simple moving average.
  • There was a break below a key bullish trend line with support at $0.950 on the hourly chart of the ADA/USD pair (data source from Kraken).
  • The pair could start another decline if it trades below the $0.9350 support zone.

Cardano Price Turns Red

After struggling to stay above the $1.00 level, Cardano started a fresh decline unlike Bitcoin and Ethereum. ADA declined below the $0.9650 and $0.950 support levels.

There was a clear move below the $0.950 support zone. Besides, there was a break below a key bullish trend line with support at $0.950 on the hourly chart of the ADA/USD pair. The pair even traded below the 50% Fib retracement level of the upward move from the $0.9007 swing low to the $0.9881 high.

Cardano price is now trading below $0.950 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.950 zone. The first resistance is near $0.9650.

Cardano Price

The next key resistance might be $0.9880. If there is a close above the $0.9880 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.00 region. Any more gains might call for a move toward $1.050 in the near term.

Another Decline in ADA?

If Cardano’s price fails to climb above the $0.950 resistance level, it could start another decline. Immediate support on the downside is near the $0.940 level and the 100-hourly simple moving average.

The next major support is near the $0.9350 level or the 61.8% Fib retracement level of the upward move from the $0.9007 swing low to the $0.9881 high. A downside break below the $0.9350 level could open the doors for a test of $0.9040. The next major support is near the $0.8550 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is gaining momentum in the bearish zone.

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

Major Support Levels – $0.9400 and $0.9350.

Major Resistance Levels – $0.9500 and $0.9880.



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XRP price prediction signals upward rally: Technical indicators suggest big run for WallitIQ (WLTQ) in February 2025

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The crypto market is buzzing with optimism as XRP price predictions hint at an upward rally, drawing attention from traders and investors alike. However, the real standout in this dynamic landscape is WallitIQ (WLTQ), poised for an extraordinary surge by February 2025, according to technical indicators. While XRP shows promise, WallitIQ’s (WLTQ) explosive growth potential and unique market positioning make it the clear choice for those seeking unparalleled returns in the evolving crypto space.

Crypto Spotlight: WallitIQ (WLTQ) Eyes Huge Growth Potential

WallitIQ (WLTQ) is rapidly emerging as a standout cryptocurrency, capturing the spotlight with its trailblazing innovations and the potential for a staggering surge in February 2025. Technical indicators highlight WallitIQ (WLTQ) as the top high-reward investment opportunity, primed to outpace competitors with revolutionary tools reshaping the decentralized finance (DeFi) landscape. While the XRP price trajectory hints at growth, savvy investors are turning their focus to WallitIQ (WLTQ), drawn by its state-of-the-art advancements and brighter prospects. 

The token’s strength lies in its unmatched security features, boosting trust among crypto enthusiasts. WallitIQ (WLTQ) integrates cutting-edge AI fraud detection, biometric authentication, facial recognition, and live verification, establishing a secure foundation that underpins its optimistic outlook for transformative gains in February 2025. 

WallitIQ’s (WLTQ) presale is already attracting substantial interest, with individual and institutional investors flocking to acquire it at a remarkably low price of $0.0420 an exceptional chance to be part of its historic 30,000% run in February 2025.

Further solidifying its reputation, WallitIQ (WLTQ) has successfully undergone a complete SolidProof audit, guaranteeing transparency and minimizing risks. Its real-time smart contract monitoring improves its status as a secure and trustworthy investment. 

With robust technology, unparalleled security, and explosive growth potential, technical indicators position WallitIQ (WLTQ) as a must-have for investors looking to ride the next wave of DeFi innovation and reap significant returns from its run in February 2025.

Riding The Wave: What’s Behind The XRP Price Surge?

The XRP price is capturing significant attention as it gears up for a potential upward rally. Recent predictions suggest that the XRP price could break past critical resistance levels, fueled by favorable technical indicators and growing adoption.

One factor driving this optimism is Ripple’s legal victories and partnerships, which have bolstered confidence in its ecosystem. As the XRP price hovers near pivotal thresholds, bullish sentiment grows among traders who anticipate strong momentum.

Market dynamics also favor the rise of the XRP price, as institutional interest and trading volumes surge. For those watching the XRP price, this rally could represent a significant opportunity. If support holds steady, the XRP price may continue climbing, delighting investors.

In conclusion, the XRP price stands at the brink of an exciting ascent, a testament to its resilience and potential for long-term growth.

WallitIQ (WLTQ) Presale: Revolutionizing Crypto Investments

Although the XRP price indicates an upward rally, crypto traders are increasingly turning their attention to WallitIQ (WLTQ)’s presale, drawn by its attractive entry price of $0.0420 and forecasts from several analysts that predict a surge of up to 30,000% in February 2025. WallitIQ (WLTQ) is quickly gaining recognition as a standout AI-powered altcoin, supported by cutting-edge technology that redefines decentralized finance (DeFi).

Its decentralized framework incorporates advanced AI capabilities such as adaptive machine learning algorithms, intuitive multimodal chatbots, and a revolutionary QR-based scan-and-pay system. These innovative features improve user engagement with DeFi platforms, making WallitIQ (WLTQ) both accessible and highly efficient in the fast-evolving crypto world.

Adding to its appeal, WallitIQ (WLTQ) offers a groundbreaking Crypto Wallet Management Mobile App. This app combines QR code payment functionality, simulated transaction tools for secure transfers, and real-time market insights powered by CoinGecko’s API, empowering users with informed decision-making capabilities for achieving massive returns in February 2025.

Traders are particularly excited by these state-of-the-art advancements, which they believe will drive WallitIQ (WLTQ)’s run and establish it as a premier investment. With surging presale momentum and increasing demand, this token presents a unique opportunity for forward-thinking investors to secure significant returns while embracing its ambitious February 2025 run.

Join the WallitIQ (WLTQ) presale and community: 

Join WallitIQ (WLTQ) Presale

Join the WallitIQ (WLTQ) Community



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Arkansas Rejects Crypto Mining Restrictions

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The Arkansas Senate has rejected Senate Bill 60, which would have prohibited crypto mining facilities within a 30-mile radius of any military facility in the state.

The bill required digital asset mining operations within this zone to cease operations unless they had obtained permits before December 31, 2024.

Arkansas Lawmakers Say No to Crypto Mining Restrictions

Senate Bill 60, titled “To Prohibit a Digital Asset Mining Business from Being Located Within a Thirty-Mile Radius of a Military Facility,” was rejected on Thursday in a 6-1 vote, according to the Arkansas Democrat-Gazette.

Senator Ricky Hill and Representative Brian S. Evans introduced the bill. They argued that while digital asset mining—commonly known as crypto mining—presents economic opportunities, it also carries risks.

“Risks posed by digital asset mining include without limitation threats to national security and the security of the State of Arkansas,” the bill read.

The bill added that these crypto mining risks are heightened when such facilities operate within a thirty-mile radius of military bases in Arkansas.

“This act is immediately necessary in order to ensure the health and safety of the State of Arkansas and its citizens,” the bill asserted.  

Had it passed, the legislation would have required digital asset mining businesses within the designated radius to shut down. This would have applied unless they had obtained permits from the Oil and Gas Commission before December 31, 2024.

Additionally, ongoing construction of mining facilities within these zones would have been required to cease. The bill also granted the Attorney General the authority to investigate potential violations. This included the power to issue subpoenas and collect sworn statements to enforce compliance.

Despite these provisions, the bill failed to gain sufficient support, leaving digital asset mining businesses free to operate without the proposed restrictions.

This development follows Arkansas’ April 2023 “Right to Mine” law. The law protected Bitcoin mining activities in the state by loosening restrictions on commercial crypto mining. Nonetheless, it faced substantial opposition, with critics citing environmental and energy consumption concerns.

Meanwhile, lawmakers in North Dakota have introduced legislation to safeguard the rights of cryptocurrency users and miners. Representative Nathan Toman has put forward a bill designed to protect fundamental Bitcoin-related rights.

Dennis Porter, CEO of the Satoshi Action Fund, confirmed the bill’s introduction via social media platform X (formerly Twitter).

“This bill will protect the: Right-to-Mine – Right Self-Custody – Right to Peer-2-peer Transactions – Right to Run a Node,” Porter stated.

These developments come as interest in crypto grows at the national level. President Donald Trump, now serving his second term, has voiced strong support for the domestic Bitcoin mining industry. He has publicly advocated for all future Bitcoin mining to take place within the US, reinforcing his administration’s pro-crypto stance.

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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Bitwise’s Bitcoin and Ethereum ETF Gets SEC’s Green Light

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The US Securities and Exchange Commission (SEC) has given initial approval for Bitwise’s spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Fund (ETF). 

The SEC confirmed that the filing received accelerated approval. This came after the regulator approved similar ETFs last month.

SEC Approves Bitwise’s Bitcoin and Ethereum ETF

On January 30, the SEC approved NYSE Arca’s 19b-4 filing. The filing allows Bitwise’s combined Bitcoin and Ethereum ETF to be listed and traded. 

According to the filing, the fund’s asset allocation will closely reflect the relative market capitalizations of Bitcoin and Ethereum. Furthermore, its holdings would be limited to these two cryptocurrencies and cash reserves.

Notably, according to the SEC, the filing received accelerated approval. The agency determined that the filing was substantially similar to other approved spot crypto ETFs, which allowed for an expedited approval process.

“The Commission finds good cause to approve the Proposal prior to the 30th day after the date of publication of notice of Amendment No. 126 in the Federal Register,” the SEC stated.

The development follows the SEC’s approval of the first-ever combined Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton in December 2024.

“Because hashdex and Franklin were already approved it made sense that this would also be approved in short order,” Bloomberg ETF analyst James Seyffart pointed out on X.

Bloomberg Senior ETF Analyst Eric Balchunas also commented on the decision on social media platform X. He said that the decision was “news but expected.” 

“Even Gensler’s SEC would approve these,” Balchunas wrote.

Balchunas also highlighted the speed of the SEC’s decision. He noted that the approval process took only 45 days instead of the standard 240-day review period.

“I really want to interpret this as a sign the new SEC will be faster but no way to know really. Litecoin on deck, know more soon,” he added.

NYSE Arca filed the 19b-4 on November 26, 2024. After a public comment period and a revision to the filing on January 21, 2025, the SEC decided to fast-track its approval. The approval adds to Bitwise’s growing footprint in the crypto ETF space.

The investment manager has also submitted applications for Solana (SOL), XRP (XRP), and Dogecoin (DOGE) ETFs. Nonetheless, given its higher volatility and speculative nature, whether the SEC will approve a meme coin ETF remains to be seen.

Meanwhile, the Bitwise 10 Crypto Index Fund also remains under review. This fund is designed to track the performance of the top cryptocurrencies.

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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