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Cryptocurrency Price Analysis Today – ADA, DOGE, TON, DOT

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“Amidst Bitcoin’s predictable trading range, there emerges a tantalizing question: Will the sideways price action beckon altcoin traders to embark on fresh ventures? The allure of a trending move within an asset class often draws traders into the fold, while a stagnant price action compels investors to bide their time. Bitcoin, for the past several months, has found itself ensnared within a confining range. This may well explain the significant drop in spot trading volumes, a matter highlighted by Bloomberg’s report on October 11, citing a 52% plunge in Coinbase’s spot trading volume for Q3 2023 compared to the same quarter in 2022.

Although the immediate future remains cloaked in uncertainty, traders must remain vigilant, as protracted consolidations typically precede a surge of intense price activity. Yet, the conundrum lies in predicting the direction of this inevitable breakout. Notably, the bulls have steadfastly defended Bitcoin’s position, preventing it from slipping below the $25,000 threshold for the past few months, thereby amplifying the prospects of an imminent bullish breakout.

The renowned investor, Paul Tudor Jones, recently shared his perspective during a CNBC interview, expressing a bearish sentiment toward the equities markets. Jones’ apprehensions revolve around the Israel-Hamas conflict escalation, which, if materialized, could induce a risk-averse atmosphere. In such a scenario, assets like gold and Bitcoin might bask in a bullish glow, as per Jones.

The key question that lingers is whether the bears will manage to sink Bitcoin beneath its immediate support and, subsequently, set in motion a more profound market shift. Let us now embark on an exploration of the charts of the top 10 cryptocurrencies to uncover the unfolding narrative.”

1.Bitcoin Price Analysis-

On October 11, Bitcoin elegantly sliced through the 20-day exponential moving average at $27,148. However, the relentless bears found themselves unable to pull the price beneath the 50-day simple moving average, stationed at $26,634. The bulls, with unwavering determination, successfully defended this 50-day SMA on both October 11 and October 12. Despite their resolve, they find themselves grappling to initiate a noteworthy rebound, signifying a conspicuous lack of demand at the higher levels.

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The next strategic move on the part of the bears would involve a concerted effort to drive the price below the 50-day SMA and claim victory. Should this crucial level capitulate, the BTC/USDT pair might then pivot toward testing the robust support located at $26,000, a level anticipated to witness a fervent buying spree orchestrated by the bullish cohort.

A glimmer of optimism emerges with the prospect of a rally above the 20-day EMA, serving as the initial indicator of renewed strength. Should this materialize, the pair could ascend towards the formidable overhead resistance at $28,143, a threshold of immense significance, as breaching it could herald the commencement of a short-term upward trajectory.

2.Ether Price Analysis-

Ether found itself hovering perilously close to the critical support at $1,531 on October 12, but the bulls, in a commendable display of resilience, managed to uphold this crucial level. The RSI exhibits the early stirrings of a positive divergence, hinting at the gradual weakening of bearish momentum. However, the battle lines are likely to form once again as the bulls endeavor to push the price towards the moving averages, with the bears poised to mount a robust defense.

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Should the price witness a sharp downturn from the 20-day EMA, presently at $1,606, it would signify that the bears still retain their grip on the proceedings. This might spell a descent below $1,531, commencing a journey toward the formidable $1,368 threshold. The potential for a resolute bull counteroffensive rests in their ability to overcome the moving averages, a feat that could propel the pair towards $1,746, although they may encounter vigorous opposition from the bearish contingent.

3.BNB Price Analysis-

BNB encountered a stark descent towards the sturdy support at $203, bearing the scars of a tumultuous struggle. The extended tail on the candlestick reflects the fierce determination of the bulls in guarding this critical level. Their next course of action necessitates a swift surge above the moving averages and the downtrend line, indicative of the diminishing grip of the bears. Such a maneuver could set the stage for an upward trajectory, initially targeting $235 and later $250.

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In contrast, a reversal from the moving averages would affirm the bearish sentiment, marking each minor ascent as an opportunity to vend. A breach beneath the $203 support would complete the formation of a descending triangle pattern, possibly initiating a downward movement towards $183.

4.XRP Price Analysis-

The turbulent winds of the market led XRP below the uptrend line on October 11, a telling sign that bullish pressure was waning. This descent foretells a period of oscillation, where XRP is expected to dance between the boundaries of $0.41 and $0.56 for an extended duration. Positioned at $0.46, a support level looms, one that carries the weight of expectations. A breach of this line could result in a precipitous drop to the critical support at $0.41, where bullish forces are primed for an aggressive resurgence, staunchly preserving the range-bound narrative.

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Conversely, a breakthrough and a secure close above the moving averages would constitute the first beacon of strength. Such an event would propel buyers to make another spirited attempt at elevating the price to the formidable overhead resistance at $0.56. The realignment of these stars could usher in the dawn of a new potential uptrend.

5.Solana Price Analysis-

October 12 saw Solana slipping beneath the 20-day EMA at $21.72, a clear indication of the sustained pressure imposed by the bears. Both moving averages have now levelled, with the RSI positioned near the midpoint, reflecting an equilibrium between supply and demand. The bears, undeterred, are poised to consolidate their advantage, aiming to pull the price below the 50-day SMA, residing at $20.44. Such an outcome could result in a slump for the SOL/USDT pair, descending to the crucial juncture at $17.33.

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However, the scenario could pivot if the price veers upwards, scaling past $22.50. Such a move would rekindle the short-term advantage for the buyers, potentially igniting a surge towards the neckline of the inverse head-and-shoulders pattern.

6.Cardano Price Analysis-

Cardano, since October 9, has displayed prolonged tails on consecutive candlesticks, offering tantalizing glimpses of recovery. However, the bulls’ attempts to ignite a rally seem to have faltered, hinting at an underlying lack of demand at higher levels. The ADA/USDT pair currently hovers near the support line of $0.24, with the RSI showcasing a positive divergence, indicative of diminishing selling pressure and the potential for a relief rally. The first checkpoint in this ascent is expected to be the moving averages, and a successful breach could see the pair reaching $0.27, and subsequently $0.28.

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Nevertheless, a contrary trajectory may unfold should the price descend further, plummeting below $0.24. Such a move would affirm the prevailing bearish sentiment, potentially paving the way for a fall to $0.22, and even $0.20.

7.Dogecoin Price Analysis-

Dogecoin, trapped beneath the $0.06 support level since October 9, seems to have acclimated to its lower confines. The bears are plotting to test the crucial support at $0.055, a stronghold likely to encounter staunch resistance from bullish forces.

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If the price rebounds from this level, we might anticipate a consolidation between $0.055 and $0.06 for an extended interval. With the moving averages slanting downward and the RSI flirting with the oversold territory, it is apparent that the bears currently wield the upper hand. The bulls’ resurgence would necessitate a swift rise above the moving averages, potentially catalyzing a recovery towards $0.07.

8.Toncoin Price Analysis-

Toncoin (TON) has been ensnared in a corrective phase for the past few days, as profit booking by traders wrenched the price below the 50-day SMA at $1.98 on October 12. Bulls now grapple to recapture this level, striving to propel the price above the moving averages in the days to come. A successful resurgence in this regard would signify that the drop below the 50-day SMA might have been a bear trap, paving the way for a potential rise towards $2.31.

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Conversely, a downturn from the moving averages would signal a shift in sentiment, with relief rallies rapidly converted into selling opportunities. This would escalate the risk of a descent to $1.60, setting a challenging course for TON.

9.Polkadot Price Analysis-

The Polkadot token continued its downward trajectory in the past few days, ultimately reaching the sought-after objective at $3.50 on October 12. This level now emerges as a robust support, acting as a bulwark against further declines. In the journey ahead, the 20-day EMA at $3.95 becomes a pivotal level to watch closely. Should the price encounter resistance and turn down from this level, it will serve as a clear signal that traders are leveraging relief rallies to vend, potentially increasing the likelihood of a decline below $3.50.

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Contrarily, the bulls might spark a reversal, ensuring the price sustains itself above the 20-day EMA. Such an outcome would underscore a market’s rejection of the lower levels, potentially ensnaring aggressive bears and kindling a short squeeze towards the downtrend line.

10.Polygon Price Analysis-

Polygon’s trajectory seems to gravitate towards the critical support at $0.49, marking a notable reluctance among bulls to initiate buys at higher price points. In a confined range, traders typically engage near the support line and exit near the resistance. For Polygon, this translates to an expectation of a robust buying effort as the price descends to $0.49. A vigorous upward move from this level could see the MATIC/USDT pair touching the moving averages.

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However, if the price sharply declines from the moving averages, it could potentially catalyze a break below $0.49, a scenario that might propel the pair down to $0.45. Conversely, an upward rally beyond the moving averages would indicate an extension of the range-bound market action for a few more days.

In this extensive exploration of cryptocurrency markets, we encounter a landscape replete with dynamics and potential. Each coin’s journey and the intricacies of these narratives are vital for both seasoned traders and new enthusiasts navigating the world of digital assets. Amidst the sways and fluctuations, one thing remains constant – the need for astute vigilance and anticipation to thrive in the realm of cryptocurrencies.

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Toncoin And SUI Post Exciting Gains While NuggetRush Receives Investors From Top Crypto Communities

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TLDR

  • Toncoin (TON) surged explosively from $3.32 to $5.02 within a week, defying the market drop. This surge broke previous resistance levels, making it a favorable investment. The introduction of The Open League contributed to the bullish momentum.
  • Sui (SUI) is a top altcoin with a thriving ecosystem, attracting developers and users, leading to a record $700 million total value locked (TVL). Despite recent market fluctuations, SUI has remained bullish, staying above key moving averages.
  • NuggetRush (NUGX) unleashed a new era for cryptocurrencies by offering tangible use cases through a play-to-earn (P2E) game model. Participants earn income by building a mining empire, participating in in-game activities, and selling collectibles.

Toncoin (TON) has experienced an impressive resurgence, defying market trends with a notable price increase. Elsewhere, Sui (SUI) features an advanced ecosystem that has attracted hundreds of developers and thousands of users. Yet, NuggetRush (NUGX) is a game-changer in the crypto space with its innovative play-to-earn (P2E) model. Here are the reasons Toncoin and Sui’s investors are turning to NuggetRush for lucrative investment opportunities.

>>Buy NuggetRush Now<<

 

Toncoin (TON) Surges: Defying Market Drop and Targets New Highs

With a price gain from $3.32 to $5.02 in just a week, Toncoin (TON) showed a strong rebound, defying the current market drop. Apart from extending the recovery, the 40% surge enabled Toncoin (TON) to break above the previous resistance at $4.58, providing the buyers with another reason to keep holding.

After it retraced 50% to trade at $3.32, Toncoin (TON) resumed its recovery trajectory. Several factors are believed to have an impact on Toncoin’s (TON) price. A large active community incentive program, The Open League, was introduced recently, and it caused a bullish spike for the token.

Starting in April 2024, the program will reward competitive projects and users in the TON network with 30 million Toncoin, valued at nearly $115 million. With such developments, Toncoin (TON) ranks among the best altcoins to buy today.

On March 25, 2024, Toncoin (TON) was trading at $5.03, up 27.75% in the past week. Analysts say Toncoin (TON) will set a new all-time high above $5.25 by the end of March, powered by increased demand for the token.

 

Sui (SUI) Emerges as a Top Altcoin: Growth Trajectory and Price Targets

Sui (SUI) has transformed to become one of the top altcoins in the market. Notably, Sui’s blockchain has attracted hundreds of developers and thousands of users. As a result, the total value locked (TVL) in Sui’s ecosystem has spiked to reach a record $700 million.

Since the beginning of 2024, Sui has been in a strong bullish trend. The token has gained in the recent week, remaining relatively stable in the recent bearish crypto market. SUI has remained above the 50-day and 100-day Exponential Moving Averages. Nonetheless, SUI needs to break the resistance at $1.97 to open the way for a surge toward $2.50.

Coupled with the many developments since May 2023, SUI has been on an upside trajectory in the long term. On March 25, 2024, SUI was valued at $1.69, up 3.66% in the past week. Experts believe SUI will hit $1.77 by the end of March, powered by growing demand for the token.

 

NuggetRush (NUGX): Transforms Crypto with P2E Gaming and Social Impact

In the past, cryptos have lacked defined utilities and have always been highly volatile. Nevertheless, everything changed with the entry of NuggetRush (NUGX). Resembling most of the top play-to-earn (P2E) games, NuggetRush (NUGX) lets participants earn an income using enjoyable in-game activities.

Interestingly, NuggetRush (NUGX) features the building of a mining empire using site discovery and teamwork. Gamers set up mining facilities, trade most available in-game items, collect rare and cool NFTs and set up expert teams to achieve “master miner” status. This prestigious status lets them amass considerable wealth through their mining empire.

Furthermore, NuggetRush (NUGX) offers many income streams via in-game operations. In that context, gamers earn rewards from battles, quests, ranked play, and tournaments. Moreover, they can sell in-game collectibles on NuggetRush’s marketplace.

Remarkably, the platform supports artisanal mining communities in remote and underdeveloped countries. All these utilities make NuggetRush (NUGX) a great crypto to buy.

NuggetRush’s governance design gives the Rush Guild members access to various areas and the power to vote on decisions linked to NUGX’s ecosystem.

Currently, NuggetRush’s blockchain ICO is in the Launchpad round, with each NUGX token trading at $0.019. Furthermore, the project has sold over 248 million NUGX tokens and raised over $3.3 million. Analysts say NUGX will surge significantly after listing on mainstream exchanges. Hence, it is a top crypto to buy now. 

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Bitcoin’s Best Days Are Still Ahead, This AI Altcoin Could Outperform Render by the End of the Year

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With only a month remaining until the Bitcoin (BTC) halving, BTC value has retraced despite recent capital influxes pushing the price to a new all-time high earlier this month. Even so, several prominent crypto figures are largely bullish, projecting that Bitcoin’s better days are ahead and that BTC will still climb higher, surpassing its recent high. Meanwhile, an AI altcoin, InQubeta (QUBE), is causing a stir in the crypto market with its unique proposition.

Given its bullish momentum, investors are flocking to its platform, and InQubeta could outperform Render (RNDR) before the year ends. As a platform that allows fractional investment in AI startups, InQubeta has gained the spotlight as one of the best altcoins to buy this year. The presale has seen significant results, raising over $12.4 million in funding.

Let’s explore how InQubeta could outperform Render before the year ends amidst Bitcoin having better days ahead.

 

InQubeta (QUBE): Governance Token Structure Attracts Investors 

InQubeta, with its innovative approach as the first crypto crowdfunding platform, could outshine competitors like Render by the end of the year. This new DeFi crypto is transforming the crypto AI market by facilitating fractional investments in AI startups through QUBE tokens. The platform aims to transform AI startups’ fundraising and community engagement landscape.

Built on the Ethereum blockchain, QUBE distinguishes itself as the best DeFi crypto with its deflationary token mode. This approach offers crypto investors a unique avenue for portfolio diversification. The tokenomics model positions QUBE holders to earn rewards via token staking, featuring a 2% buy and sell tax directed towards a burn wallet and a 5% buy and sell tax allocated to a dedicated reward pool. This new DeFi crypto structure attracts investors who are bullish on the growth prospects of AI technology startups.

InQubeta designed its QUBE token as a governance token, boosting its potential to surpass Render in the market. This feature makes it the best DeFi crypto and grants holders the authority to engage actively in decision-making processes crucial to the platform. The QUBE governance structure empowers token holders to propose, discuss, and vote on various aspects shaping the platform’s development, ensuring a democratic and community-driven approach.

 

 

Bitcoin (BTC): Samson Mow Remains Optimistic On The Token Value 

Bitcoin has experienced notable price appreciation this year. Starting the year at $42,208 on January 1st, it surged to a new record of $73,737 on March 14th. It has yet to maintain this high as the 30-day countdown progresses. Samson Mow, a long-time predictor of significant price increases, remains optimistic that BTC will soon exceed its previous all-time high.

On the X platform, Ran Neuner advised his followers that a 20–30% decline for BTC “would be entirely typical and beneficial” in a bull market. Even if the decline persists, industry experts suggest that the overall trajectory for the primary cryptocurrency is likely upward. Also, with the United States Federal Reserve contemplating interest rate reductions, analysts anticipate favorable prospects for Bitcoin in the days to come.

 

Render (RNDR): Increase In Whale Activity Boosts Its Market Sentiment 

The Render token has been experiencing upward momentum recently. On-chain reports from Lookonchain indicate notable involvement from major investors, known as whales, in the RNDR market. Three prominent whales have pooled together to deposit 2.5 million RNDR tokens onto centralized exchanges (CEX) in pursuit of profit-taking. 

This deposit is equivalent to $30.8 million. This substantial influx of tokens from these influential investors highlights the increased trading activity surrounding RNDR. It suggests a deliberate strategy to leverage the prevailing bullish sentiment in the market. Despite the positive outlook, InQubeta is set to outshine Render in the market.

 

Conclusion

Despite Bitcoin’s price fluctuation, analysts are predicting better days. InQubeta is trending in the market due to its approach of connecting AI startups with potential investors. As one of the best altcoins, InQubeta is seeing impressive results on its presale. You can be part of the QUBE project by buying the token via the website. Just visit the site and follow the detailed instructions on purchasing the token.

 

Visit InQubeta Presale 

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SWIFT To Launch CBDCs Platform in 2025-26

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SWIFT, the global messaging network used by banks, service providers, clearinghouses, corporate business houses, brokers, is planning to launch a new platform to connect central bank digital currencies (CBDCs) in the next one to two years, according to the firm’s head of innovation, Nick Kerigan.

Central banks around the world are tinkering with their own CBDCs and the race for who will launch a digital currency has a geopolitical component to it.

China has a digital yuan in the works and has been trialing the currency for many years. The Bahamas, Nigeria and Jamaica already have CBDCs. 

Sweden’s Riksbank recently released its final report on its CBDC, the e-Krona, and the European Central Bank is developing the digital Euro too.

SWIFT’s Trials and Roadmap to Launch New Platform

“We are looking at a roadmap to productize (launch as a product) in the next 12-24 months,” Kerigan told the newswire in an interview. 

See Also: US Sanctioned 13 Crypto Firms For Alleged Involvement With Russian Banks

“It’s moving out of the experimental stage towards something that is becoming a reality,” added Kerigan.

Kerigan explained in SWIFT’s latest platform trial it took six months and involved a 38-member group of central banks, commercial banks and settlement platforms, all collaborating on national digital currencies.

The trial was focused on making sure that all the different countries’ CBDCs can all be used together even if built on different underlying technologies and this in turn would reduce payment system fragmentation risks.

The timeframe set out by SWIFT could change if CBDC launches around the world are delayed but for now the global payments firm is developing a new platform.

Bank of International Settlements CBDC Plans

In January the Bank of International Settlements (BIS) unveiled that its CBDC project is entering a new phase this year. 

The BIS’s ‘Aurum’ project is exploring “the privacy of payments in retail CBDCs.” — BIS said this is one of the first six projects for 2024 being developed under its Innovation Hub work programme.

See Also: ‘Binance Is Not Paying Its Taxes In Multiple Jurisdictions,’ – CNBC Reporter

The BIS is also working on Project mBridge, a multi-CBDC common platform for wholesale cross-border payments. 

In September, BIS and central banks of France, Singapore, and Switzerland announced a successful testing of cross-border settlement for wholesale-CBDCs. 

Project Mariana, tested and demonstrated the frictionless transfer of CBDCs across the different networks.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN

 



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