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With its bullish structure now invalidated, those looking for long positions will need to eye support levels at $2.44 and $2.2. Should the crypto market remain bearish (with BTC having a probability of revisiting $60-62K), these levels are likely to come into play.
Discrepancy in price of token on spot and futures markets opens opportunities for arbitrageurs
Former Trump principal deputy solicitor of the U.S. Department of Interior Gregory Zezan argues cryptocurrencies and stablecoins give people financial freedom, which the Biden admin is fighting against.
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.
Liquidity measures how easy (or difficult) it is to swap one asset for another. Traders want to be able to convert one asset for another asset while having a minimal impact on the price. The more illiquid an asset is, the harder it will be to trade it without causing a major price change. Therefore, liquidity is an extremely important factor to consider before deciding where to trade.
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Dogecoin, which was initially set up as a joke in 2012 before seeing its shares skyrocket, has also dropped while Solana has seen its market price rise by more than 8%.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood. In late July, Elon Musk said Tesla was "most likely" to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Cryptos feed Dogecoin price provides perfect buy opportunity for a 50% breakout
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Dogecoin, which was initially set up as a joke in 2012 before seeing its shares skyrocket, has also dropped while Solana has seen its market price rise by more than 8%.
Decentralised Finance segment has seen growth with the rise in interests in Crypto assets. However it's sudden surge in Indian market has been noteworthy. Ashish Anand of Bru.Finance helps decode the growth as he speaks with Sidhartha Shukla of ET Online in ET Markets Cryptologue. Listen in!
Play iconA circle surrounding a triangle pointing right. It indicates, "this type of media can be played."Crypto investing: All you need to know!
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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