In a development that could offer relief for Bitcoin (BTC) and the broader crypto ecosystem, Mt. Gox, the defunct cryptocurrency exchange that was hacked in 2014, has announced a significant delay in its repayment plan for affected creditors. Originally set for October 31, 2024, the new deadline for repayments has been pushed to October 31, 2025. Mt. Gox Trustee Announces New Repayment Timeline This delay is particularly notable given that the repayment of approximately 200,000 BTC to creditors could have exerted downward pressure on Bitcoin’s price. Had the repayments proceeded as scheduled, there was concern that many affected investors might liquidate their holdings en masse, potentially exacerbating Bitcoin’s existing downtrend and leading to a sharp price decline. In a statement released on Thursday, the Rehabilitation Trustee outlined the current status of the repayment efforts. It noted that while significant progress has been made in processing repayments, many creditors have yet to receive their funds due to incomplete procedures or issues encountered during the repayment process. The Trustee stated: However, the statement highlighted that a considerable number of rehabilitation creditors still await their repayments. In light of these challenges, and with permission from the court, the Trustee determined it was in the best interest of all parties to extend the deadline for repayments. Key Levels To Watch For Bitcoin Amid Ongoing Fluctuations Despite recent optimism surrounding the Bitcoin market, the cryptocurrency has once again fallen below the critical $60,000 mark. This decline follows a brief uptrend triggered by the US Federal Reserve’s (Fed) decision to cut interest rates on September 18, which initially boosted confidence among crypto investors. Bitcoin had rallied to approximately $66,500 on September 27, marking its best September performance in over a decade. However, the cryptocurrency has since faced a sell-off, resulting in losses exceeding 2% in the last 24 hours and nearly 9% over the past two weeks. Crypto analyst Rekt Capital has pointed out that Bitcoin is currently down around 6% for October. Historically, the cryptocurrency has experienced downturns in October only twice: in 2014, when it fell by 12.95%, and in 2018, with a decline of 3.83%. Both years were characterized by bear market conditions. With the current year being a Halving year—an event that historically has led to price increases—there is a prevailing sentiment that Bitcoin may avoid a negative monthly close this October, according to Rekt’s analysis. Rekt Capital also noted that Bitcoin is currently testing the Weekly Re-Accumulation Range Low, which is around $60,600. This level serves as crucial support, and maintaining a weekly close above it could set the stage for a potential upward movement. Conversely, if Bitcoin fails to hold this support, the analyst warns that it could lead to further declines, potentially pushing the price below $55,000. At the time of writing, BTC trades at $59,650, as seen in the daily BTC/USDT chart below. Featured image from DALL-E, chart from TradingView.com

The cryptocurrency market is buzzing with activity, with select projects stealing the spotlight. Ethereum is caught in a challenging bearish grip, while Tron is riding a wave of bullish energy. The talk of the town is undoubtedly BlockDAG! Its presale is making waves, raking in a colossal $10 million from heavy hitters in just 72 hours, bringing the total to a staggering $92 million. The launch of the BlockDAG Explorer has set the developer community abuzz, providing an innovative tool for tracking transactions in real time. With these developments, BlockDAG is rapidly claiming its place as a key player in the cryptocurrency arena. Ethereum Battles Resistance Ethereum is striving to rebound after a drop below $2,350, facing a significant challenge at the $2,400 mark. With its price lingering below $2,400 and the 100-hourly Simple Moving Average, Ethereum is entrenched in a bearish phase. Ethereum needs to breach the $2,400 and $2,420 resistance levels to turn the tide. Success here could propel it towards $2,480 or possibly $2,550. However, if Ethereum fails to overcome this resistance, it risks falling further, with support possibly forming around $2,300 and $2,220. The trading community is on high alert for any signs of a turnaround or further decline in the upcoming trading sessions. Tron Gains Bullish Momentum Tron is demonstrating robust bullish momentum, distinguishing itself even as other major cryptocurrencies like Bitcoin and Ethereum face challenges. Its open interest has soared by over 15%, showcasing significant market enthusiasm. On October 4, 2024, Tron marked a bullish milestone after successfully retesting a crucial level, backed by a solid bullish daily candle. Currently trading at around $0.1572, Tron has experienced a 2% increase in price over the last 24 hours and a 13% boost in trading volume, indicating a surge in buyer interest. Positive on-chain data, including a Long/Short ratio of 1.034, hints at a bullish outlook. If Tron maintains this trajectory, it could be on the brink of setting new all-time highs soon. BlockDAG’s Explosive $10M Raise & New Explorer Launch BlockDAG’s presale has ignited the market with an explosive $10 million influx from whales in just 72 hours, pushing the hype to new heights and accelerating demand. The presale, now totaling $92 million, is moving at a breakneck pace. The excitement around BlockDAG is palpable, with buyers quickly snapping up spots as each new batch is released, pushing prices upward and making BlockDAG a central topic in crypto discussions. Currently in batch 24 and priced at $0.0206, early adopters have achieved a remarkable 1960% return since batch 1. The enthusiasm is further fueled by the rollout of the highly anticipated BlockDAG Explorer. This new tool is captivating the blockchain developer community, enabling real-time interaction and analysis of the network. With its sleek design and instant transaction visibility, the Explorer is revolutionizing how developers engage with the blockchain. Traders are electrified, developers are thrilled, and the entire crypto universe is on the edge of its seat, eager to see what comes next. With its explosive presale and state-of-the-art BlockDAG Explorer, BlockDAG has rocketed to the forefront as one of the most buzzworthy initiatives in the world of cryptocurrency. Market Dynamics: Highs and Lows As the cryptocurrency landscape fluctuates, Ethereum grapples with significant resistance levels, while Tron shows signs of a strong bullish uptrend that could lead to new highs. Amid these dynamics, BlockDAG is capturing widespread attention with its significant fundraising success and the strategic launch of its Explorer, attracting both traders and developers. With its rapid presale progress and innovative tools, BlockDAG is positioning itself as a formidable force in the cryptocurrency market, drawing eyes from across the sector. For those involved in trading or development, BlockDAG represents a pivotal project in 2024 that simply cannot be overlooked. Discover More About BlockDAG: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

This week in the crypto market has been a mix of rapid growth and sharp declines. Avalanche has suffered a significant price fall, with more decreases likely on the horizon. Cardano has also reached its lowest trading volume this year and could drop even further. On the brighter side, BlockDAG has rapidly gained $10 million from presale activities in just 72 hours, fueled by large-scale interest. This influx came right after they offered a 50% bonus to celebrate their successful Testnet launch. BlockDAG is stacking up victories, keeping traders eager about its future prospects. Avalanche Faces Major Price Drop Concerns The Avalanche (AVAX) price has plummeted 21% from its recent high of $30, indicating possible market instability. After peaking at $65 earlier in the year, AVAX is now adjusting downward, with current prices testing the $20 support level. Despite a short recovery, there’s uncertainty about whether this uptick is the start of an upward trend or merely a brief pause before further drops. Analysts are watching the $30 resistance level closely as it will play a key role in deciding AVAX’s next moves. Failure to surpass this mark could lead to continued price drops for Avalanche in the weeks to come. Cardano in Trouble: Potential 30% Price Drop Ahead Recent developments suggest Cardano might see a 30% price reduction, driven by growing selling pressure, according to on-chain data from Santiment. Since early September, daily active addresses for Cardano have decreased from 52,000 to 22,000. Moreover, trading volume has reached its second-lowest point in 2024 at $458 million, and ADA’s price has fallen 17% in the past month. Although there is some activity from large holders, the overall negative trends might push Cardano’s price down further if it doesn’t overcome the $0.41 resistance level. Continuing this trend, ADA could reach a new low of $0.27 this year, presenting significant challenges for the cryptocurrency. $10M in 72 Hours: BlockDAG’s Presale Jumps to Over $92M BlockDAG has seen a remarkable increase in its presale, collecting $10 million in just 72 hours. This sharp rise in funds is due to significant interest from large traders, who are quick to grab this chance for high returns. BlockDAG’s position as a major beneficiary of the recent market upturn has boosted this trend, drawing substantial investments into the project. Currently priced at $0.0206 in its 24th batch, BlockDAG has raised over $92 million through the sale of 14 billion coins, surpassing expectations. BlockDAG’s attractive 50% bonus offer on coin purchases, which lasts for seven more days, has played a big part in the presale’s recent success. This deal has motivated large holders to move fast, keen to make the most of the high return potential that BlockDAG’s presale presents. Traders wanting to join can use the code BDAG50 until October 14th. Early supporters are excited to see the presale pick up speed. With swift expansion and strong backing from large traders, BlockDAG’s presale has quickly become one of the fastest-growing cryptos in its early stages. The mix of market confidence and this limited-time offer has created an ideal scenario, attracting attention from both major traders and the wider crypto community. Final Thoughts On Fastest Growing Crypto While Avalanche & Cardano face potential price drops that keep their communities on edge, BlockDAG stands out with substantial activity from large traders that has boosted its presale figures. BlockDAG saw a $10 million increase in just 72 hours, aided by their 50% bonus offer which allowed large traders to get more BDAG for their money. With the presale gaining momentum and the bonus ending in 4 days, traders are keeping a close eye on BlockDAG to see how it performs in the coming week. Join BlockDAG Presale Now: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

Solana trading in tight range between $130 and $140 Technical analysis suggests potential breakout, with targets at $150.54 or $136. Market sentiment and political factors could influence SOL’s future price action. Solana (SOL) finds itself at a critical juncture as it navigates a tight consolidation range, prompting market analyst Edward to anticipate a sudden movement. The cryptocurrency’s price has been oscillating between $143.33 and $144.70, creating a defined trading range that has caught the attention of traders and investors alike. Edward’s TradingView analysis highlights SOL’s current hesitation, with prices consistently testing both support and resistance levels. This consolidation pattern has set the stage for a potential breakout, which could determine Solana’s next significant trend. Solana price plunges to $136 Two primary scenarios emerge from this technical setup. A bullish breakout above $144.70 could propel SOL towards the next resistance level at $150.54. Conversely, a bearish move below $143.33 might trigger a pullback to $137.25, establishing a crucial support level for traders to monitor. Beyond technical factors, broader market events and political developments could significantly influence Solana’s price trajectory. Market analyst Geoff Kendrick from Standard Chartered has made a bold prediction, suggesting that SOL could surge by up to 500% if Donald Trump wins the 2024 U.S. presidential election. This projection is based on expectations of a more favorable regulatory environment for cryptocurrencies under a Trump administration. Adding another layer of complexity to Solana’s market dynamics is the current bearish sentiment observed across the cryptocurrency landscape. Data from Santiment reveals that SOL, along with other top digital assets, has been subject to negative crowd narratives. The price of Solana has now plunged alongside the overall bearish market condition.

Solana tested the $135 support and recently corrected losses. SOL price is rising and might gain bullish momentum if it clears the $144 resistance. SOL price is attempting a fresh increase from the $135 zone against the US Dollar. The price is now trading below $145 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $139 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could gain bullish momentum if it breaks the $145 resistance zone. Solana Price Aims Higher Solana price climbed above the $146 and $148 levels before the bears appeared. SOL traded as high as $152 and recently saw a fresh decline like Bitcoin and Ethereum. The price declined below the $145 and $140 support levels. A low was formed at $135.39 and the price is now rising. There was a decent move above the $140 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $152 swing high to the $135.39 low. There was a break above a key bearish trend line with resistance at $139 on the hourly chart of the SOL/USD pair. Solana is now trading below $145 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $144 level. It is close to the 50% Fib retracement level of the downward move from the $152 swing high to the $135.39 low. The next major resistance is near the $146 level. The main resistance could be $150. A successful close above the $150 and $152 resistance levels could set the pace for another steady increase. The next key resistance is near $162. Any more gains might send the price toward the $175 level. Another Decline in SOL? If SOL fails to rise above the $144 resistance, it could start another decline. Initial support on the downside is near the $138 level. The first major support is near the $134 level. A break below the $135 level might send the price toward the $132 zone. If there is a close below the $132 support, the price could decline toward the $120 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $138 and $135. Major Resistance Levels – $144 and $150.

XRP price is moving higher from the $0.5220 support. The price could gain bullish momentum if it clears the $0.5360 and $0.5450 resistance levels. XRP price is slowly moving higher above the $0.5320 support. The price is now trading above $0.5340 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $0.5280 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5360 and $0.5450 resistance levels. XRP Price Aims Higher XRP price remained stable above the $0.5220 support, unlike Bitcoin and Ethereum. A base was formed and the price started a fresh increase above $0.5350. There was a test of the $0.5450 resistance before the price dipped back to $0.5240. A low was formed at $0.5239 and the price is again rising. There was an increase within a range and the price climbed above the $0.5320 resistance. The price cleared the 50% Fib retracement level of the recent decline from the $0.5439 swing high to the $0.5239 low. The price is now trading above $0.5320 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $0.5280 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $0.5360 level. It is close to the 61.8% Fib retracement level of the recent decline from the $0.5439 swing high to the $0.5239 low. The first major resistance is near the $0.5420 level. The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5680 resistance or even $0.5750 in the near term. The next major hurdle might be $0.600. Another Decline? If XRP fails to clear the $0.5360 resistance zone, it could start another decline. Initial support on the downside is near the $0.5285 level. The next major support is near the $0.5240 level. If there is a downside break and a close below the $0.5220 level, the price might continue to decline toward the $0.5120 support in the near term. The next major support sits near the $0.5050 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5285 and $0.5220. Major Resistance Levels – $0.5360 and $0.5450.

Ethereum price extended losses and tested the $2,320 support. ETH is now correcting losses and might aim for a fresh increase above the $2,420 resistance. Ethereum remained in a bearish zone and traded below the $2,360 zone. The price is trading below $2,420 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,350 support level to start decent increase in the near term. Ethereum Price Aims Upside Break Ethereum price failed to start a fresh increase above the $2,450 resistance zone. ETH remained in a bearish zone like Bitcoin and traded below the $2,365 support zone. There was also a move below the $2,350 level. The price tested the $2,320 support zone. A low was formed at $2,329 and the price is now rising. There was a move above the $2,350 and $2,365 levels. The price climbed above the 23.6% Fib retracement level of the downward wave from the $2,468 swing high to the $2,329 low. Ethereum price is now trading below $2,420 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,420 level. There is also a connecting bearish trend line forming with resistance at $2,420 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the downward wave from the $2,468 swing high to the $2,329 low. A clear move above the $2,420 resistance might send the price toward the $2,450 resistance. An upside break above the $2,420 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,500 resistance zone in the near term. The next hurdle sits near the $2,550 level or $2,560. More Losses In ETH? If Ethereum fails to clear the $2,420 resistance, it could start another decline. Initial support on the downside is near the $2,380 level. The first major support sits near the $2,350 zone. A clear move below the $2,350 support might push the price toward $2,320. Any more losses might send the price toward the $2,265 support level in the near term. The next key support sits at $2,220. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,320 Major Resistance Level – $2,420

Cardano founder Charles Hoskinson took X to defend the project from its detractors, arguing that the network has continued to grow and thrive despite the criticism. As ADA’s price falls 2.9%, some analysts warn of the next key level to watch out for. Charles Hoskinson Defends Cardano On Thursday, Charles Hoskinson addressed the adverse response towards Cardano in an X post. Hoskinson noted that the crypto community’s sentiment about the project has lately been more negative than usual. However, he argued that Twitter’s sentiment change isn’t a reflection of the project failing “but rather the desired result of Voltaire.” Cardano’s “Voltaire” era is set to turn the network into “the most advanced blockchain governance system,” focusing on decentralized governance and its future sustainability. Hoskinson believes that Cardano’s collaborative efforts and the transparency of the network is what sets it apart from the rest of the crypto space. “It’s why we are loathed by a lot of others. Their backroom deals and dirty tricks can’t be hidden because there is no one to ask to do it under the table,” he added. In the post, the project’s founder also underscored Cardano’s “passion” for integrity and long-term vision for growth and progress: Lastly, Hoskinson remarked that the project is not dying but “thriving and growing.” He that ADA is one of the last cryptocurrencies still wanting to be a real crypto instead of “the patron of Blackrock and Wall Street for number go up preferences.” ADA Could See A 10% Drop Soon The crypto community reacted to Hoskinson’s message, with many arguing that, regardless of the developments, the Network’s “lack of volume” and “limited” ecosystem growth remains a problem for its community. Meanwhile, part of ADA’s community agreed with Hoskinson, concurring that “it is the only chain that has truly built what I can only see as the groundwork to deliver on the promise of crypto.” Despite the ongoing criticism, some market watchers remain bullish about ADA’s future price action. Crypto analyst Dan Gambardello recently predicted that the cryptocurrency will “easily” reclaim the $1 mark before year’s end. To Gambardello, the exponential surge “could happen fast” and leave many “flabbergasted.” Additionally, he stated that after the 200% surge, ADA’s potential targets of $5 and $10 would “look more realistic.” Conversely, crypto analyst Sebastian warned about a key level to watch for following ADA’s recent performance. Earlier this week, the analyst highlighted that ADA showed signs of a breakout after retesting the trendline it had recently broken above $0.35. However, the cryptocurrency’s price dropped 2.9% in the last 24 hours, falling below the $0.34 mark. The analyst signaled that ADA must hold the current levels as failing to bounce from the $0.335 level could send the token to a retest of the $0.30 support level. As of this writing, ADA is trading at $0.337, a 1.95% and 2% decline in the weekly and monthly timeframes.

Bitcoin price extended losses and traded below the $60,000 zone. BTC is now attempting a recovery wave and facing hurdles near $60,800. Bitcoin is struggling to start a fresh increase above the $61,200 zone. The price is trading below $61,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $60,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could struggle to recover if it stays below the $62,000 resistance zone. Bitcoin Price Falls Again Bitcoin price failed to start a fresh increase above $62,000 and started a fresh decline. BTC traded below the $61,500 and $60,500 levels. It even broke the $60,000 support. A low was formed at $58,888 and the price is now consolidating losses. There was a minor increase above the $60,000 level. The price was able to climb above the 23.6% Fib retracement level of the downward move from the $64,420 swing high to the $58,888 low. Bitcoin price is now trading below $61,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $60,800 level. There is also a key bearish trend line forming with resistance at $60,800 on the hourly chart of the BTC/USD pair. The first key resistance is near the $61,650 level or the 50% Fib retracement level of the downward move from the $64,420 swing high to the $58,888 low. A clear move above the $61,650 resistance might send the price higher. The next key resistance could be $62,000. A close above the $62,000 resistance might initiate more gains. In the stated case, the price could rise and test the $63,200 resistance level. Any more gains might send the price toward the $64,000 resistance level. More Downsides In BTC? If Bitcoin fails to rise above the $60,800 resistance zone, it could start another decline. Immediate support on the downside is near the $59,600 level. The first major support is near the $58,850 level. The next support is now near the $58,500 zone. Any more losses might send the price toward the $57,200 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $59,600, followed by $58,850. Major Resistance Levels – $60,800, and $61,650.

After briefly rising above $63,000 in recent days, renewing investor’s hope on “uptober,” Bitcoin has once again dampened this excitement by decreasing to as low as the $60,000 region today. This unappealing performance has led to a CryptoQuant analyst, Aytekin, raising and sharing insight on an important question: “Is it reasonable to expect a final shakeout before the next big move?” Bitcoin Next Move: Major Correction Looming? In a recent post on the CryptoQuant QuickTake platform, the analyst explained that Bitcoin is currently in a high open interest zone, having exceeded the critical $18 billion level. Historically, when open interest levels reached this point, major corrections followed. The analyst mentioned that the current market sentiment appears divided, noting: Aytekin added that funding rates, though slightly above the 200-day simple moving average (SMA), suggest that long traders are still dominant. However, significant price corrections in the past often occurred when funding rates turned negative, which hasn’t happened yet. Aytekin concluded that, while a final shakeout might occur, the depth of the correction may not be as severe given the relatively moderate funding rates. BTC Price Outlook As Bitcoin has struggled to break through key resistance levels, its recent price action reflects ongoing market indecision. Over the past few weeks, Bitcoin maintained stability above the $60,000 mark, but failed to make a major move to reclaim $70,000. In the past 24 hours, Bitcoin has slipped by 2.9%, currently trading at $60,485. This decline follows the asset’s brief surge to $63,774 earlier in the week, which sparked optimism for a possible move toward the $65,000 and then $70,000 mark. Prominent crypto analyst Ali recently commented on Bitcoin’s price action, noting that Bitcoin is still trading within a “descending parallel channel.” According to Ali, the asset was rejected at the upper boundary of this channel, signalling the potential for further downside. “We might see a drop to the middle boundary at $58,000 or even the lower boundary at $52,000,” Ali noted in a post on X. He emphasized that a bullish breakout is unlikely unless Bitcoin clears the $66,000 level, a price point that has acted as a significant resistance point in recent weeks. Featured image created with DALL-E, Chart from TradingView

According to a crypto analyst, Bitcoin (BTC) may be heading towards a capitulation due to tightening on-chain liquidity. However, this capitulation could be followed by a “full bull” market. Bitcoin Headed Lower Before Higher In a detailed thread on X about BTC price analysis, crypto analyst Cole Garner stated that capitulation might be on the horizon for the leading digital asset. Garner attributes the potential downturn to tightening on-chain liquidity. Tracking global liquidity from central banks worldwide, the analyst said he sees a “buy signal” for digital assets. However, more downsides for cryptocurrencies could come before liquidity-enhancing measures undertaken by central banks buoy them. In his analysis, Garner stated that “if China doesn’t ring that bell, the Fed or Japan should do the job,” likely pointing toward the recent economic stimulus injected by the Chinese central bank in a bid to boost the country’s grim economic outlook. Garner referenced the recent economic stimulus from China’s central bank but noted that this week, the People’s Bank of China (PBoC) refrained from injecting additional liquidity, tempering expectations for risk-on assets like crypto. Garner emphasized the low supply of stablecoins compared to the beginning of October 2024. Analyzing the “Bitfinex grail,” which is essentially the total supply of two leading stablecoins on the exchange – USDT and USDC – Garner noted its quarterly rate of change is declining, potentially leading to lower prices for digital assets in the short term. Despite these concerns, Garner pointed out that Bitcoin has printed a higher high on the 8-hour chart, and the market structure remains bullish. Even if BTC dips to its range lows in the high $40k range, the overall price action is still considered positive. Garner suggested that should BTC hit its range of lows, traders and investors can consider buying at that price. Even if they are low on liquid cash, they must ensure they don’t get spooked by the market and panic-sell their current holdings. Another crypto analyst, Ali, seemed to echo Garner’s outlook, stating that Bitcoin is stuck in a descending parallel channel and runs the risk of sliding to channel lows of around $52,000. The analyst stressed that BTC must overcome the $66,000 level for a bullish breakout. Can Bitcoin Hit New All-Time Highs In 2024? With the remainder of 2024 ahead, Bitcoin bulls anticipate interest rate cuts by the US Federal Reserve (Fed) to fuel a new rally. However, BTC must clear several hurdles to sustain its bullish momentum. Crypto analyst Carl Runefelt recently noted that BTC must overcome the $64,000 resistance level to trigger a rally in Q4 2024. Failure to break through this price level could lead to further downside. Further, Bitcoin’s price finally turned green in October, giving bulls hopes of another “uptober” for the asset, which was marked by significant price increases. BTC trades at $60,711 at press time, down 2.4% in the last 24 hours.

Uniswap is making a surprising move, rallying in the face of bearish market conditions, and showing signs of resilience despite the downward pressure seen across the crypto space. As bullish sentiment begins to build, market participants are now focused on whether UNI can maintain this upward momentum and break new ground. As UNI continues to display strength, this analysis aims to determine whether Uniswap’s recent upward movement in spite of the broader bearish market conditions, has the potential to break through key resistance levels and reach new highs by examining the current price action and technical indicators. Indicators Point Toward More Upward Movement For Uniswap On the 4-hour chart, Uniswap is showing strength as it approaches the $8.7 resistance level while trading above the 100-day Simple Moving Average (SMA). UNI’s positioning above the SMA indicates a firm trend, suggesting that buyers are gaining confidence with the potential of targeting higher resistance levels. An analysis of the 4-hour Relative Strength Index (RSI) points to the possibility of continued upward movement, as the RSI has rebounded to the 73% threshold after previously dipping to 52%. This rise indicates that positive momentum is gaining traction, suggesting that buyers are increasingly in control and that further gains could be on the horizon. After successfully breaking above the daily 100-day SMA, UNI has been exhibiting strong upbeat movement signifying a shift in market sentiment, with buyers gaining confidence and pushing the price higher. If Uniswap can sustain this push, it may open the door for additional price appreciation and challenge higher resistance levels. Furthermore, the RSI on the daily chart is currently at 65%, having risen from a previous low of 43%. This upward movement suggests that UNI is gaining momentum, signaling more growth. If buying interest continues to hold steady, the positive trajectory indicated by the RSI could support an extended rally for Uniswap, reinforcing positive sentiment in the market. Potential Upside Targets: How Far Can the Bulls Push UNI? As Uniswap maintains its upward momentum, the immediate resistance level to watch is $8.7, which could pave the way for a challenge of higher thresholds if surpassed. A breakout above this level could see UNI targeting the $10.3 mark, where significant psychological resistance may come into play. However, if Uniswap fails to maintain this strength and breaks above the $8.7 resistance level, it could result in a pullback, with the price sliding back toward the $6.7 support zone. A breakdown below this level could lead to more losses, possibly targeting lower support areas.

Cardano (ADA) struggles below $0.3550 support, trading at $0.3385. Analysts warn of potential drop to $0.22-$0.26 range if $0.33 support fails. 77.50% of ADA holders are out of money, potentially creating resistance at higher levels. Cardano (ADA) finds itself at a critical juncture as it grapples with persistent bearish pressure, struggling to maintain key support levels. The cryptocurrency’s recent price action has drawn significant attention from analysts and investors alike, particularly following its test of the $0.3680 resistance on October 7. Despite this brief show of strength, ADA has since experienced a notable decline, mirroring the broader market’s downward trend. TradingView analyst Siyamakbayrami highlights a descending weekly trend for Cardano, tracing its trajectory from a peak of approximately $0.80 in March to its current consolidation phase. This period of range-bound trading between $0.33 and $0.45 reflects market indecision and could serve as a pivotal moment for ADA’s future price action. The analyst warns that a failure to hold the $0.33 support could potentially trigger a severe decline to the $0.22-$0.26 range, levels not seen since early 2023. 77.5% Cardano holders in losses The Global In/Out of the Money analysis provides additional context to ADA’s market dynamics, revealing that 77.50% of addresses holding Cardano are currently out of the money. This concentration of underwater positions could create significant resistance between $0.35 and $0.54, as holders may seek to exit their positions to recover losses. This selling pressure poses a substantial challenge to any potential upward movement for ADA in the near term. Despite the prevailing bearish sentiment, crypto analyst Ali Martinez offers a contrarian perspective, suggesting that Cardano investors may be experiencing the “depression” phase of the market cycle. Historically, this phase of extreme pessimism often precedes market bottoms and could present a unique buying opportunity for long-term investors. Martinez posits that accumulation during this downturn could yield substantial returns as the market potentially transitions into a “disbelief” phase, signaling the start of a new bullish cycle.

As we advance into the final stretch of the year, the cryptocurrency market is abuzz with activity. October is shaping up to be a defining month for crypto enthusiasts and stakeholders, with the sector attracting considerable interest due to groundbreaking technological innovations and increasing worldwide acceptance. This confluence of factors is setting the stage for a landscape filled with intriguing prospects. This article explores four cryptocurrencies poised to make significant impacts this October 2024: BlockDAG, Chainlink, Shiba Inu, and Toncoin. It examines why these specific cryptos are on an upward trajectory and are expected to lead the charge, thanks to their advances in scalability, speed, and creative applications. 1. BlockDAG: DAG-Based Crypto for Speed and Scalability This October, all eyes are on BlockDAG, a cryptocurrency that’s quickly distinguishing itself with its pioneering Directed Acyclic Graph (DAG) technology. This innovative approach is transforming how transactions are handled, offering unparalleled speed, scalability, and security—essential for a broad spectrum of applications. The enthusiasm surrounding BlockDAG is evident from its presale achievements, where it amassed an impressive $92 million across 24 batches. The price of BDAG coin has soared by a remarkable 1960%, rising from merely $0.001 to $0.0206 in its latest batch. Market experts are anticipating a potential escalation in BDAG coin’s valuation to $30 by 2030. BlockDAG’s global influence is also growing, thanks to strategic partnerships with elite soccer clubs such as Borussia Dortmund and Inter Milan. Furthermore, a time-sensitive 50% bonus offer is attracting a substantial number of participants, fostering a strong community foundation. Armed with advanced technology, strategic alliances, and a formidable financial track record, BlockDAG is on track for substantial expansion. It stands out as a crucial entity to monitor this month, poised to play a significant role in the rapidly evolving crypto landscape. 2. Chainlink: Enhancing Blockchain with Oracle Solutions As October 2024 unfolds, Chainlink captures the spotlight with its innovative decentralized Oracle network that significantly enhances blockchain functionality. By seamlessly integrating smart contracts with external data sources, Chainlink extends its utility across various domains, particularly finance. The LINK token experienced a robust 13% uptick in September, signaling a growing appreciation for its capabilities, notably the Cross-Chain Interoperability Protocol (CCIP). Through continuous expansion of its applications and forging new alliances, Chainlink is reinforcing its essential role within the dynamic blockchain ecosystem. 3. Shiba Inu: Memecoin Evolving with Growing Utility Shiba Inu stands out this October as it demonstrates remarkable adaptability and growth. Operating on the Ethereum network, SHIB has seen a notable 35% increase in its value over the past week, reflecting a surge in active engagement. Transitioning from its roots as a meme coin, SHIB has developed into a utility-rich asset with initiatives such as ShibaSwap, its decentralized exchange, and ventures into NFT platforms and decentralized governance. Despite some daily indicators suggesting a potential pullback, the overall bullish trend and strong community involvement position Shiba Inu as a significant crypto contender this month. 4. Toncoin: Scalable Crypto with Expanding Use Cases Toncoin is commanding attention in October 2024, supported by strong fundamentals and growing adoption. As the flagship currency of The Open Network (TON), Toncoin thrives on a robust proof-of-stake system that ensures scalability and security. Its utility stretches beyond typical transactions, embracing decentralized storage, DNS services, and anonymous networking. Projected valuations for Toncoin range between $6.45 and $30.30 by 2025, reflecting its promising growth trajectory. Backed by an engaged community and the TON Foundation, Toncoin is poised to be a key player in the crypto arena this month. Which Crypto Stands Out? Wrapping up our analysis of the top four cryptocurrencies for October 2024 BlockDAG, Chainlink, Shiba Inu, and Toncoin each brings unique and advantageous features. Chainlink excels in bridging blockchain with real-world data, Shiba Inu enhances its appeal with diversified utilities, and Toncoin stands out for its scalability and wide-ranging applications. However, BlockDAG claims the spotlight with its swift technological progress, competitive edge, and strategic partnerships. The impressive capital raised during its ongoing presale and its potential for substantial future growth make BlockDAG a particularly noteworthy cryptocurrency this month, shaping it as a pivotal force in the crypto landscape. Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

Crypto analyst TradingShot recently revealed that the Bitcoin price is forming a similar fractal pattern to the one that happened in October 2023. This is bullish for the flagship crypto, considering what happened last year when the fractal pattern formed. Bitcoin Prices Flashes Fractal Similar To October 2023 TradingShot mentioned in a TradingView post that the Bitcoin fractal similar to the one that occurred in October 2023 is happening again. He explained that the similarities are more evident in the 1D timeframe, where the Bitcoin price currently ranges within the 1D 50-day moving average (MA) and the 1D 200 MA. According to him, BTC also traded similarly precisely a year ago in the first two weeks of October 2023. In October 2023, BTC is said to have made a marginal break above the 1D 200 MA before quickly pulling back below it. TradingShot further revealed that the Bitcoin price started its “long-term aggressive rally” of the Channel Up after it tested and held the 1D 50 MA, peaking on March 14 this year, when it hit its current all-time high (ATH) of $73,000. Interestingly, Bitcoin tested and held this 1D 50 MA at the start of this month, indicating another long-term aggressive rally might be on the horizon. TradingShot claimed that as long as the 1-week 50 MA continues to hold as the long-term support, there is a high probability that the Bitcoin price could hit $100,000 even before the end of this year. From a fundamentals angle, market experts like Standard Chartered have also predicted that Bitcoin could reach $100,000 even before the US presidential elections on November 5. Meanwhile, Bernstein analysts expect BTC to at least come close to this price level based on their prediction that the flagship crypto could hit $90,000 if Donald Trump wins the elections. What Next For The Leading Crypto? The Bitcoin price has remained stagnant amid market uncertainty thanks to the macro data, the upcoming US elections and rising tensions in the Middle East. This has raised questions about what to expect next from the leading crypto with such a bearish outlook. Crypto analyst Ali Martinez has provided some insights, predicting that BTC could soon lose the $60,000 support level. While noting that Bitcoin remains stuck in a descending parallel channel, Martinez remarked that a recent rejection of the upper bounder could lead to a decline to the middle boundary at $58,000. He added that the BTC price could drop to the lower boundary at $52,000. According to him, a bullish breakout for Bitcoin won’t happen until its price clears $66,000. At the time of writing, the Bitcoin price is trading at around $61,000, down almost 2% in the last 24 hours, according to data from CoinMarketCap.

Ethereum has been experiencing sluggishness in its price performance recently, as the cryptocurrency continues to closely follow Bitcoin’s movements. Currently trading at $2,392, Ethereum is down 1.5% in the past 24 hours, adding to its gradual decline in recent days. This drop follows a brief price surge last week, where Ethereum saw a slight surge to above $2,600. Despite the minor increase, Ethereum remains down by 51% from its all-time high of $4,878, recorded in 2021. Ethereum Potential To Fall 53% The sideways movement in Ethereum’s price has left traders cautious. Amid this, renowned crypto analyst Ali has offered his perspective on Ethereum’s current trajectory in a recent post on X. Ali pointed out that Ethereum’s price action tends to follow a particular pattern based on TD Sequential indicators. He explained that whenever Ethereum breaks above the TD setup resistance trendline, a strong bull run often ensues. However, when Ethereum dips below the TD setup support trendline, it typically results in a significant price correction. According to Ali, Ethereum is nearing a critical support level of $2,250, warning that if this support is breached, it could trigger a major price drop. Ali further emphasized that ETH has previously seen an average of 53% corrections following similar breakdowns, suggesting that losing the $2,250 level could spell trouble for the cryptocurrency. On The Flip Side While Ali expresses concern over Ethereum’s potential for a significant downturn, other analysts remain optimistic about its long-term potential. A crypto analyst going by the name EtherNasYoNAL on X recently shared a bullish outlook for ETH, suggesting that the cryptocurrency could be on the verge of entering a new “mega bull” cycle. According to the analyst, ETH is currently in the final stages of what they describe as a “retest and accumulation process.” This phase is reminiscent of Ethereum’s price movements in 2020, where it underwent a similar process before the 2021 mega bull run. The analyst added that Ethereum’s price action in the months of August, September, and October 2020 followed a specific pattern, with accumulation and retests before the asset saw a significant rise. EtherNasYoNAL believes Ethereum is currently mirroring this process and is poised to enter another mega bull cycle, expected to occur around 2025. Despite the current decline, the analyst remains confident that Ethereum’s long-term trajectory is still bullish, encouraging investors to remain patient and await the expected price surge. Featured image created with DALL-E, Chart from TradingView

SUI reaches a new ATH of $2.18 but bullish momentum fades. Transaction volume drops 30% in 48 hours, signaling waning interest. Technical analysis suggests potential 23% decline to $1.45 support level. SUI, having recently achieved a new all-time high (ATH) of $2.18, finds itself at a critical juncture as the bullish momentum that propelled it to this peak shows signs of waning. This shift in market dynamics has raised concerns among investors about the potential for a significant price correction, with some analysts projecting a possible 23% decline. The most immediate indicator of this changing sentiment is the sharp decline in SUI’s overall transaction volume. Within a mere 48-hour window, transaction volume has plummeted by 30%, falling from $1.1 billion to $830 million. This substantial decrease in market activity suggests a rapid cooling of interest in the altcoin, potentially foreshadowing further price weakness. SUI transaction volume plunges This reduction in transaction volume carries broader implications for SUI’s market health. Decreased participation often precedes price corrections, as lower liquidity makes it challenging for an asset to maintain recent gains. Source: Santiment The evident caution among investors could act as a self-fulfilling prophecy, exerting downward pressure on SUI’s price in the near term. From a macro perspective, technical indicators paint a bearish picture for SUI. The Chaikin Money Flow (CMF), a key metric for gauging buying and selling pressure, has been consistently negative since the beginning of the month. The CMF’s position below the zero line confirms ongoing capital outflows, suggesting investors are actively moving funds away from SUI to mitigate potential losses. Looking ahead, SUI’s price action appears precarious. The loss of bullish momentum that drove it to its recent ATH puts the critical $1.70 support level at risk. A breach of this threshold would likely confirm the bearish outlook, potentially paving the way for a further decline to the next significant support at $1.45.

Solana’s smart money investors, known for their insightful early-stage market analysis have identified a potential XRP killer, ETFSwap (ETFS), which is poised to achieve a 1500x surge in value by November 2024. Their belief in this emerging XRP killer’s potential is fueled by its unique approach that bridges the gap between traditional and decentralized finance, bringing in an innovative, safe and transparent way for investors to trade tokenized ETFs. Why Solana Smart Money Investors Are Betting Heavily On ETFSwap (ETFS) ETFSwap (ETFS) is an Ethereum-based revolutionary crypto project that has captured the attention of Solana smart money investors and is hailed to be an XRP killer that will challenge the dominance of XRP in the crypto market. This decentralized blockchain platform offers investors the best of both worlds: the security of traditional finance combined with the transparency and accessibility of decentralized finance (DeFi). To enhance security, it uses advanced blockchain technology and is audited by Cyberscope, a key player in the cyber security and blockchain audit industry. Also, the ETFSwap (ETFS) team has concluded their KYC verification process conducted by a reliable smart contracts security audit firm called SolidProof. Solana smart money as well as other investors can trade and swap various tokenized ETFs confidently as all listed ETFs on the platform are backed with real-world assets and secured by Mica-compliant regulated investment banks. ETFSwap (ETFS): The XRP Killer Aiming For A 1500x Surge By November 2024 With the ETFSwap (ETFS) presale still ongoing and its beta launch around the corner, this XRP killer has seen rapid adoption from Solana smart money and other investors all over the world, positioning it to become a major player in the DeFi space, with the potential to surge up to 1500x by 2025. Solana smart money investors are excited to finally have access to the benefits promised by this XRP killer. These benefits include 24/7 liquidity and market access, permissionless trading, early ETF listings, personalized ETF trading recommendations and governance rights to influence major decisions. In addition, they can bypass extra costs imposed by intermediaries and earn passive income with up to 87% APR yield when they stake their ETFS tokens. This XRP killer also allows investors to increase their trading positions by up to 10x during perpetual trading while enjoying discounted trading fees and reduced transaction fees. To promote fairness and reliability within the ETFSwap (ETFS) ecosystem, the distribution strategy of this XRP killer reserves 40% for public sale and 4% for the community. It is also designed to be a deflationary token so that its price can be maintained and regulated to avoid inflation. The much anticipated ETFSwap (ETFS) beta launch is around the corner and will give Solana smart money and other investors a peek into this XRP killer’s innovative features. The first stage of this beta launch will allow users to participate in staking mechanisms, liquidity pools and swapping of all kinds of ETFs in full DeFi mode. Its second strange will follow after, introducing AI-driven features designed to help every investor in their decision-making. With AI tools such as ETF trackers, ETF screeners and ETF filters, these advanced tools will be able to perform predictive analysis and sentiment analysis to provide data-backed recommendations tailored to every investor’s needs. Invest In This XRP killer Now With ETFSwap (ETFS) presale in its final phase, this XRP killer is selling at a discounted rate of $0.03846. This presale is ongoing and has sold over 500 million tokens with Solana smart money investors betting heavily on its potential to achieve a 260X price surge at the end of the presale and a 1500x increase in value by 2025. This is a final call for all investors to participate in the ETFS presale and be part of this potentially profit-maximizing crypto project. For more information about the ETFS Presale: Visit ETFSwap Presale Join The ETFSwap Community Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Dogecoin is currently testing a crucial demand level after experiencing a 23% decline from its local highs of $0.13. As the meme coin navigates this turning point, the broader crypto market anticipates a potential rally in the coming weeks, driven by the Federal Reserve’s recent decision to cut interest rates. However, October kicked off with increased selling pressure, leaving investors searching for signs of strength in Dogecoin’s price action. Top analyst Mister Crypto has shared a bullish outlook, stating that Dogecoin could begin its next rally “any time now.” His technical analysis highlights key support levels and suggests that the current price could be a launchpad for significant upside movement. Despite the recent dip, many traders remain optimistic that DOGE could soon recover and enter a new bullish phase. All eyes are now on whether Dogecoin can hold its critical demand level and break out shortly. Dogecoin Testing Crucial Demand Dogecoin is currently surrounded by speculation as investors and analysts offer varying opinions on its future price action. After several weeks of significant ups and downs, the meme coin has seen massive volatility, reflecting the broader market’s uncertainty. Some analysts remain optimistic about Dogecoin’s prospects, while others caution against getting too bullish too soon. A technical analysis shared by prominent analyst Mister Crypto on X suggests a potentially bullish scenario for DOGE. His analysis highlights a 4-day (4D) price chart, where a bullish triangle pattern has just been broken. This breakout signals a possible rally ahead, which, if realized, could lead to gains exceeding 100%. Mister Crypto’s forecast has sparked renewed hope among Dogecoin traders, who are now carefully managing their risk in anticipation of this potential move. However, despite the optimism, there is still no clear confirmation that Dogecoin has entered a new bull run. For this bullish scenario to be validated, the price must close above the current demand level and hold support. Until then, the market remains cautious, and investors are waiting for further price action to confirm whether Dogecoin will break out or continue to trade sideways. With so much speculation and uncertainty, the coming days will be critical for DOGE’s trajectory. Price Action: Technical Levels To Hold Dogecoin (DOGE) is currently trading at $0.106 after experiencing an 8% dip since Monday. The price has lost both the 4-hour 200 moving average (MA) at $0.107 and the 200 exponential moving average (EMA) at $0.108, placing DOGE in a precarious position as it now tests crucial demand levels. For bullish momentum to return, DOGE needs to break back above these key indicators and reclaim the $0.12 mark. A surge beyond this level could set the stage for a higher push, giving bulls the control they need to shift market sentiment. However, the current market environment remains fragile, and any failure to recapture the 4-hour MAs could signal further downside. If DOGE fails to hold its current levels, analysts anticipate a deeper correction that could drive the price down to around $0.08, a key support zone. Traders are watching closely to see if DOGE can stabilize or if more downside is ahead. This makes the coming days crucial for determining whether the meme coin can rebound or face further selling pressure. Featured image from Dall-E, chart from TradingView

Sonic SVM, a Solana-based blockchain gaming Layer-2 infrastructure firm, has developed the first Web3 game with an embedded wallet on TikTok, the world’s most popular video sharing app. With the help of its embedded wallet, the new game SonicX makes it easier for TikTok users to get started and introduces them to the advantages of Web3 and decentralization. The first atomic SVM L2 built to support sovereign game economies that finalize on Solana is Sonic SVM. It is powered by HyperGrid, a core technology developed by Mirror World to support Solana grids, which allows developers to implement unique Sonic Solana Virtual Machine (SVM) chains that provide significant scalability benefits. Building on the popularity of “tap-to-earn” games like Notcoin and Hamster Kombat on Telegram, SonicX is an HTML5 clicker game. Users may start playing the game right away since it’s embedded within the TikTok app. They only need to touch the screen to create rings that are hosted on-chain. Players will be able to earn more blockchain-based incentives, such as cryptocurrency and NFTs, by gathering rings. The game’s inbuilt wallet offers account abstraction features that enable players easily recover their passwords without having to handle private keys. To begin, users just need to sign in using their TikTok account. From there, the blockchain will record all of their accomplishments and the rings they earn. Along with completing daily tasks and moving up the game’s leaderboard, players may get extra rewards by recommending friends. With $12 million in funding, Sonic SVM is building a foundation for Solana’s blockchain gaming industry. It has created a cutting-edge Solana infrastructure that developers can use to build game-specific rollups, or Layer-2 networks that group transactions off-chain to execute them more quickly and at a reduced cost. This is an area that is ready to expand. Due in part to the emergence of blockchains specifically targeted at gaming, such as Immutable X, Solana has mostly gone unnoticed by blockchain game creators, despite the fact that it is already a formidable power in DeFi, where its expanding ecosystem rivals Ethereum’s. Sonic SVM dramatically increases Solana’s speed and scalability with its innovative architecture, which makes use of the Sonic Virtual Machine and HyperGrid, a strong horizontal scaling framework. This makes Solana the perfect network for Web3 games. The ability to quickly export one’s private key for use with other Web3 apps in the Solana ecosystem is a fundamental benefit of SonicX’s integrated wallet. Chris Zhu, Co-founder & CEO, commented: The introduction of SonicX on TikTok demonstrates how much account abstraction wallets may hasten the adoption of Web3. More than 120,000 TikTok users have already been onboarded into Web3 for the first time since its introduction last month.