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.
The hype surrounding popular memecoin Dogecoin had appeared to diminish recently as new altcoins took centre stage.
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Here are some cryptocurrencies that may be unworthy of a slot in your investment portfolio:
Ethereum makes some noteworthy improvements to Bitcoin’s basic architecture. In particular, it utilizes “smart contracts” that enforce the performance of a given transaction, compel parties not to renege on their agreements, and contain mechanisms for refunds should one party violate the agreement.
As recently as May 2021, Binance was under investigation by the U.S. government for tax fraud and money laundering, according to reporting by Bloomberg.
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Squid's developers have made off with an estimated $3.38m (£2.48m), according to technology website Gizmodo.
Shortly after achieving these astronomical new heights, Bitcoin’s price fell back toward $62,700 before recovering slightly to around $64,500, while most altcoins endured near double-digit losses.
Although cryptocurrencies like Bitcoin are virtual currencies, they are treated as an asset for capital gains tax purposes, and “ordinary” investors who purchase Bitcoin as an investment will experience a capital gain or loss when they exchange it for traditional currency, products, or services.
4JNET strives to provide investors with long-lasting projects and maintains transparency in how to invest. First of all, the limited edition NFT of 4JNET was released on October 20th. A total of 5,000 limited edition NFTs will be sold in advance, which will be carried out prior to the token launch on December 1.
In early November, FTM formed an inverse head and shoulder pattern, eventually breaking the neckline with a steep rise close to $3.2. However, it is now recovering from the steep drop it experienced overnight along with the market. On its way down, it broke through several local support levels.
The SafeMoon price is already rising massively in the last 12 months, and it has marked an all-time high price of $0.00001399 a month ago. As per price predictions by analysts, SafeMoon price would close to a new all-time high level before this year-end without any resistance level indication. One more reason for this is the corporate SafeMoon involved in developing charity projects, influencing the liquidity pool attracting more users for investment.
The pair could first drop to $4,146.30 but if this support also gives way, the correction could reach the psychological support at $4,000.
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.
DeFi stands for decentralised finance token. They are very complex but essentially aim to disrupt the finance world to enable people to follow and lend in peer-to-peer networks, without needing a bank.
Elon Musk changes his Twitter name to 'Lorde Edge' - and some users see it as a nod to dogecoin
MoneyNews MoneyMOON MONEY SafeMoon price prediction 2021: Can the cryptocurrency reach $1?