The above prices are as of 01.09 pm IST on November 9 (Data courtesy: coinmarketcap.com).
Litecoin price has entered a tight congestion zone since the initial spike above the Cloud on October 20th. The trading range has been limited to the Tenkan-Sen at $196 above and Senkou Span B at $188 below. Thus, Litecoin has prime conditions for a bullish expansion move to occur, but bulls are unable or unwilling to make that happen.
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The overall market cap of cryptocurrencies hit $3.3 trillion on Monday, according to CoinGecko pricing.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood.
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Online factors exhibit stronger relationships in the long term, and such relationships were found to be consistently positive. The long term positive relationships suggest long term price trends are linked with online activity. This is an intuitive result, given that successful cryptocurrencies are likely to have active communities; as the community grows, so does belief in the cryptocurrency, and vice versa.
In preparation for the snapshot, deposits and withdrawal of OMG tokens will be temporarily disabled on November 11, 2021, at around 6.45 pm EST/3.45 pm PST. Trading, however, will not be affected.
It will impose a 10 percent penalty tax fee on sellers and redistribute five percent of this tax to other people who already own the cryptocurrency.
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Typically, meme coins don’t gain on fundamentals. Instead, they are usually driven by an internet-based joke.
According to analysts’ forecast, SafeMoon price will hit the $1 level soonest as the price has been showing bullish momentum, steadily moving up since the beginning to attract more buyers. Despite the escalation in SafeMoon cryptocurrency, analysts are cautiously looking at the cryptocurrency market outlook due to the recent drop in crypto prices to their support levels.
The decision to buy cryptocurrency should always have a long-term outlook, as crypto prices can be particularly volatile. Safemoon is no different, as in its short lifespan, the price has already exhibited some significant price swings. To get a better sense of Safemoon’s outlook, let’s take a look at the technical and fundamental factors that could shape price in the future.
Musk’s decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.
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After a year of gains and record highs, crypto currencies are enduring a turbulent time with unpredictable price changes.
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