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If the price turns down from the resistance line of the channel, the pair could drop to the support line. This is an important level to keep an eye on because a break below it will suggest a possible change in the short-term trend.

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On Thursday, Brooks made the announcement in a statement describing his new employer as an established leader in the digital asset industry, renowned for its sustained research and development efforts and best-in-class proprietary technologies.
Here are some cryptocurrencies that may be unworthy of a slot in your investment portfolio:

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Six out of the top-10 cryptocurrencies were trading higher at 9.30 hours IST. Binance Coin and Solana witnessed profit booking whereas XRP gained 9 per cent.

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    The surge in Bitcoin’s value in recent weeks follows the much anticipated first Bitcoin ETF debuting on the New York Stock Exchange, and a record-breaking October for the stock market in general.

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    Fig 1. Price series for each cryptocurrency considered (each cryptocurrency priced in USD).

    The price fluctuations came as conflicting reports on whether Chinese property giant Evergrande had "defaulted" on its loan surfaced.
    Under Brooks' leadership at OCC, the regulator issued guidance regarding banks' use of stablecoins and blockchains, as well as an interpretive letter clarifying that national banks are allowed to provide cryptocurrency custody services.

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Contrary to this assumption, if the pair rebounds off the current level and rises above the downtrend line, it could reach $0.000065. The flattish 20-day EMA and the RSI near the midpoint suggest a range-bound action in the near term.

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In this eventuality, BTC could drop toward the 100 or 200 four-hour moving average. These demand zones sit at $59,000 and $52,000 respectively.

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