The Fibonacci retracement indicator, measured from the Oct. 17 swing low at $3,640 to the Oct. 21 swing high at $4,375, suggests that Ethereum is sitting on stable support. The combination of the 50% Fibonacci retracement level with the 50 four-hour moving average at $3,922 is the most significant interest area underneath ETH.
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin.
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“Bitcoin appears to be pushing out of a bullish flag pattern, and Ether is likely to confirm a long-term breakout on a close above resistance this Friday,” said Katie Stockton, founder and managing partner of Fairlead Strategies, in a note.
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5% is reflected on to all holders for passive income. 5% is added to the liquidity pool. A burn wallet receives a portion of the reflections to never be seen again.
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It appears the coin became widely recognised on Twitter and many of its posts have thousands of likes by cryptocurrency watchers.
The two ways of adding funds achieve the same result. Which you choose depends on your preference between centralized exchanges and decentralized finance (Defi). Many people prefer increased control over the transaction that is possible with Defi. You may prefer the customer service of a centralized exchange.
Cryptocurrencies’ supply and value are controlled by the activities of their users and highly complex protocols built into their governing codes, not the conscious decisions of central banks or other regulatory authorities.
We’ve attempted to list the most relevant factors involved in crypto price fluctuations, but in this fast-paced industry, it’s likely more will arise as the market develops. If you think we’ve missed any, feel free to let us know.
Bitcoin wasn’t the only cryptocurrency to feel the initial effects, with most of the top 10 all experiencing dips in value.
And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.