The market seems to have taken a turn this morning as a correction has set in. Both BTC and ETH have witnessed a small correction, said Zebpay Trade Desk. The same is happening in altcoins as well, it added.
From a technical perspective, Bitcoin’s price action appears to be contained within an ascending parallel channel that developed since Oct. 4. Every time BTC has risen to this technical formation’s upper boundary since then, it has been rejected and retraced to the pattern’s lower edge. From this point, it tends to rebound, which is consistent with the characteristics of a parallel channel.
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What impact do cryptocurrencies have on the environment? Energy consumptions of ...
Our Safemoon prediction for 2025 states that the coin could be valued at around $0.000025 if the developers can improve its current usability.
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Traders can choose strategies such as day trading, where positions are opened and closed within a day for quick profits, or go for a scalping strategy, taking small profits from a large number of trades. Other strategies include trend trading, swing trading, and position trading.
Cryptocurrency market is down 2.24% on the last 24 hours (2.15pm, Thursday 11 November).
The SOL/USDT pair could now drop to the support line of the channel. A strong rebound off this support will indicate that the up-move remains intact. Both moving averages are sloping up and the RSI is in the positive territory, signaling that bulls have the upper hand.
However, as scheduled, the Binance community should expect the Axie-listing today exactly at 8 am EST / 5 am PST. As we are all waiting for the event, users currently have the option to deposit their AXS in preparation for trading.
For instance, whereas a government can easily freeze or even seize a bank account located in its jurisdiction, it’s very difficult for it to do the same with funds held in cryptocurrency — even if the holder is a citizen or legal resident.
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Hank Wyatt, SafeMoon’s vice president of research and development, said in a Discord chat that the team will eventually “host an open beta” version before releasing the full application.
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It follows recent crashes brought on by Tesla making a u-turn on accepting Bitcoin as payment for its products and China clamping down on initial coin offerings, block exchanges and warned against speculative trading.
The value of Safemoon is currently sitting at $0.000003803 - up almost 23% over the past 24 hours, according to CoinMarketCap.
Binance has grown into the world's largest cryptocurrency exchange. During the month of May, Binance had spot trading volume of approximately $1.5 trillion, which was a 63% increase from April. As you can see in the image below, the volume traded on Binance is significantly higher than its closest competitors, Huobi and Okex.
In other words, if you're waiting for Safemoon to hit $1, you'll likely be waiting for a long time.