The 14-day RSI for Bitcoin has touched the 20 level, indicating that the price is oversold. Bitcoin is trading at $26,045 as per data from CMC and is down 11.33% in the last 7 days. The crypto market has faced severe selling pressure for the last few days. The price of Bitcoin declined all the way to the $25,000 range. At the time of writing the price has been trading in a confined range. During the severe crash, the majority of altcoins have also lost remarkably, reaching record lows. Moreover, Santiment reports an 8.49% decrease in the 30-day moving average of Bitcoin’s market value over realized value (MVRV). This indicates that the asset’s current price is below its true worth. Furthermore, long-term active BTC investors are still in the green, since the 365-day MVRV ratio is now over 5%. Price Struggles to Gain Momentum The 14-day RSI on a daily time frame for Bitcoin has touched the level of 20, indicating that the price is oversold. This drop brings the present range to its lowest level since the collapse in March 2020. Source: TradingView Usually, if the RSI reading drops below 30 or crosses into the oversold territory, it indicates that selling pressure is increasing. Investors may be surprised to see the indicator usually stay in the oversold zone for far longer than they had expected. Source: CoinMarketCap The price has been consolidating ever since it briefly recovered from the $25,411 mark. For the price to gain strong momentum, it needs to cross the $26,870 mark. On the other hand, further decline can be expected if the price breaches the recent support level of $25,710. At the time of writing Bitcoin is trading at $26,045 as per data from CMC and is down 11.33% in the last 7 days. Moreover, the trading volume is up 15% in the last 24 hours.

XRP, the cryptocurrency known for its ties to Ripple, has recently faced a bout of volatility in the market. The coin’s value, currently hovering around $0.517 according to CoinGecko, experienced a 1.0% decline in the past 24 hours alone. Over the span of a week, XRP witnessed a significant 17.4% slump, reflecting the ongoing volatility that has come to characterize the cryptocurrency market. Despite its potential, XRP’s journey to break through the 200 Exponential Moving Average (EMA), a significant technical indicator, has hit a roadblock, casting doubts on its short-term performance. Understanding XRP’s 200 EMA And Its Impact The 200 EMA is a widely followed technical indicator that helps traders and analysts gauge the overall trend of a cryptocurrency’s price. It calculates the average price of an asset over a specific time period, giving more weight to recent data points. Breaking through the 200 EMA is often seen as a bullish sign, suggesting that the cryptocurrency’s price is gaining momentum and may experience upward movement. However, XRP’s recent struggle to surpass this threshold highlights the challenges it faces in regaining solid footing in the market. Market observers suggest that the failure to breach the 200 EMA could be attributed to the broader market sentiment, regulatory concerns, and the ongoing lawsuit between the US Securities and Exchange Commission and Ripple. XRP: Weekend Recovery And Regulatory Complexities Over the weekend, XRP exhibited signs of recovery, momentarily soothing investor jitters. Notably, this recovery came in the absence of any new regulatory filings from both the SEC and Ripple regarding their ongoing lawsuit. The lawsuit has played a crucial role in shaping XRP’s price trajectory, causing significant fluctuations based on legal developments. In the initial stages of the SEC-Ripple lawsuit, the SEC categorized XRP as a “digital asset security,” raising concerns about its regulatory status and potential impact on the broader cryptocurrency landscape. However, the regulatory body has since shifted its stance, asserting that digital assets lack inherent value and are merely strings of computer code. This evolving perspective has introduced a layer of complexity to XRP’s regulatory outlook, influencing both investor sentiment and price dynamics. As the XRP market navigates through these regulatory intricacies and attempts to find stable ground, analysts and traders are keeping a close eye on both technical indicators and legal developments. The dynamics between these factors will likely continue to shape XRP’s trajectory in the coming weeks, with the cryptocurrency community closely watching whether it can overcome the hurdles posed by the 200 EMA and regulatory challenges. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Forbes Advisor

Ethereum faces a prolonged bearish trend, testing investor resilience. Analysts warn of potential heavy correction, with $1,000 as key target. The crypto market is currently dominated by bears and one of the leading cryptocurrencies, Ethereum, stands as a testimony to it. ETH has been experiencing a steady downward momentum for an extended period. After briefly reaching $2000 following Ripple’s victory over the SEC in mid-July, the price was hovering in the range of $1845 to $1900 till the end of July. During the first two weeks of August, it ranged between $1750 and $1875. In the past week, the price hit a low of $1552 on August 17, marking the lowest price range since Q2 of the year, with values fluctuating between $1650 and $1698. Looking at the percentile, ETH experienced a decline of 9.66% over the past week and 12.25% over the month. As of now, ETH is priced at $1,662, reflecting a decline of 1.05% in 24H. Despite the current bearish momentum, some investors continue to “HODL,” holding onto their investments. And believing in the longevity of one of the eldest altcoin. This has resulted in a trading volume increase of 24.15% in the past 24h resting at $4 billion. Additionally, the wounded bulls might find solace if the SEC approves Ethereum ETFs. There is optimism in the market about this prospect, as it could potentially uplift the current bearish market sentiment. In contrast, analysts predict a potential risk of a significant price correction for Ethereum. If ETH falls below the $1,600 to $1,550 range, conditions might be ripe for a further decline, potentially reaching a hefty correction of 37% to 45%, with a target of $1,000. Meanwhile, according to the data from Messari, the supply distribution charts indicate that whales, the large holders of Ethereum, have not been offloading their holdings. Instead, they have been increasing their positions. Notably, Ethereum’s co-founder, Vitalik Buterin, recently transferred $1 million worth of ETH to Coinbase, with the reasons for this transfer remaining undisclosed. How Long Will the Bearish Momentum Persist? An analysis of Ethereum’s recent price movements reveals a prevailing bearish trend on the daily chart. The short-term 9-day exponential moving average (EMA) is currently situated at $1713, signifying the ongoing bearish sentiment. The Relative Strength Index (RSI) stands at 24, indicating that the asset is oversold. Ethereum (ETH) Daily Price Chart (Source: TradingView) If the price continues to decline and drops below $1,626, this would suggest that bears still maintain control. In such a scenario, the ETH/USDT pair might retest the intraday low of $1,550 established on August 17. Conversely, a price rebound from the current level, pushing it above $1,700. It would signal the beginning of a more robust recovery. The initial target could be the 20-day EMA ($1,777), and surpassing this level might propel the pair toward the 50-day SMA ($1,852). Will ETH Break its Bearish Pressure? Share your thoughts by tweeting us at @The_NewsCrypto

Polygon (MATIC) has entered a phase of consolidation, hovering just above the crucial $0.50 mark. The coin’s recent retracement to June lows has garnered significant attention from bullish investors, even as the broader crypto market remains hounded by uncertainties and price plunges. With the cryptocurrency market experiencing a notable downturn over the past week, Polygon’s native token, MATIC, has not escaped unscathed. The token’s value has witnessed a decline of nearly 19% over the span of seven days, further amplified by a 4% drop in the last 24 hours alone. The current CoinGecko-listed price stands at $0.547. The present state of MATIC at $0.54 marks its lowest valuation this year, with year-to-date lows just shy of the June benchmark of $0.59. The recent downturn is closely linked to the broader market crash, during which Bitcoin suffered a plunge to $26,000, triggering nearly $2 billion in liquidations. Technical Indicators Signal Caution For MATIC Technical indicators echo the prevailing bearish sentiment surrounding MATIC. The Relative Strength Index (RSI) notably retreated to the oversold territory on August 17th and continues to linger there. This persistent oversold condition underscores the ongoing selling pressure that has yet to abate. Similarly, the Chaikin Money Flow (CMF) has maintained a position below zero, indicating a subdued influx of capital. This trend accentuates the bearish outlook for MATIC in the spot market. Navigating The Road Ahead For Polygon Despite its recent dip, MATIC encountered a measure of stabilization at the bullish order block (OB) situated above the $0.50 level. Notably, this level aligns with the June lows, which have historically facilitated successful rebounds upon retesting. This downturn has visibly impacted investors, leading to growing losses in their portfolios. However, the overall strength of Bitcoin—whose performance has been lackluster—might potentially hinder MATIC’s ability to stage a robust recovery. MATIC seven-day price action. Source: CoinMarketCap As the crypto market grapples with its recent setbacks, the fate of MATIC remains entwined with the broader industry trends. Investors are keenly watching for signs of a substantial reversal in MATIC’s fortunes, gauging whether it can successfully break free from the gravitational pull of the current market downtrend. In the midst of this challenging environment, MATIC enthusiasts and market analysts alike are closely monitoring the coin’s technical indicators and its ability to hold above the critical support level of $0.50. Only time will tell whether Polygon’s MATIC can weather the storm and reclaim its upward trajectory. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Cointribune

Cybersecurity Solutions Provider Ensures Organizations Victimized by Ransomware Have Immediate Access to Skilled Threat Actor Negotiators HERNDON, Va.–(BUSINESS WIRE)–#cybersecurity—GuidePoint Security, a cybersecurity solutions leader enabling organizations to make smarter decisions and minimize risk, today announced the availability of its Threat Actor Communications Retainer. Regardless of the threat actor communications strategy, the retainer is designed to help organizations that have fallen victim to ransomware implement a dynamic, risk-based strategy that allows them to gain investigative knowledge and time for their business and technology teams to recover. In scenarios where a customer is considering a payment to the threat actor, the retainer also provides negotiation services that focus on risk mitigation, payment reduction, and mutually agreed upon terms. By having pre-paid access to ransomware negotiators, customers don’t have to worry about finding experienced negotiators while handling an active incident. Instead, customers are able to rely on retained ransomware negotiators that are familiar with their organization and desired strategy, and are always available based on defined SLA’s. The GuidePoint Research and Intelligence Team’s (GRIT) threat actor negotiators are highly-trained cyber threat intelligence analysts with extensive experience in public and private sectors. By leveraging the team’s breadth and depth of expertise, GuidePoint Security’s threat actor negotiators understand the challenges organizations face when impacted by ransomware and use knowledge of threat actor operations to craft an effective strategy that maximizes results. GRIT’s ransomware negotiation capabilities have reduced the average ransom demand by 50%, with the largest reduction being 85% less than the original demand. “When an organization is hit by ransomware, that’s obviously a very stressful situation,” said Drew Schmitt, GRIT Lead Analyst, GuidePoint Security. “In addition to a wide range of ransomware investigation and response services, our team of seasoned negotiators can communicate on a customer’s behalf with threat actors that have stolen and encrypted sensitive information and provide a rapid, risk-informed communication strategy to ensure the best possible outcome for your organization.” Key benefits of GuidePoint’s Threat Actor Communications Retainer include: Effective communication strategies based on profiled threat actor behaviors and GRIT’s collective experiences Gaining an understanding of data at risk and insight into how the threat actor may have operated within the environment Secure retrieval of data, tools, or other information gathered as a result of communications with the threat actor Coordination with legal counsel, insurance personnel, and the incident response investigation Facilitating all aspects of the threat actor communications process—from start to finish—including cryptocurrency payment, if needed Customers of this offering receive a dedicated hotline that is staffed 24x7x365 for escalation support and defined SLAs for how quickly GRIT negotiators can assist in the effort. Any unused retainer will convert directly into a Cyber Threat Profile Discovery that performs a point-in-time assessment of your external attack surface, deep and dark web presence, and brand risk, and translates findings into recommendations and threat profiles that identify the threat actors most likely to target your organization. This offering rounds out a complete portfolio of ransomware services that GuidePoint Security provides, including: Incident Response Planning, IR Playbook Creation and Review, Incident Response Retainers, Ransomware Tabletops, Purple Team Exercises, Ransomware Investigation and Response, Ransomware Readiness, and Business Resilience, Data Backup and Recovery Services. For more information on GuidePoint Security’s Threat Actor Communications: Download the Datasheet Read the Blog About GuidePoint Security GuidePoint Security provides trusted cybersecurity expertise, solutions and services that help organizations make better decisions that minimize risk. Our experts act as your trusted advisor to understand your business and challenges, helping you through an evaluation of your cybersecurity posture and ecosystem to expose risks, optimize resources and implement best-fit solutions. GuidePoint’s unmatched expertise has enabled a third of Fortune 500 companies and more than half of the U.S. government cabinet-level agencies to improve their security posture and reduce risk. Learn more at www.guidepointsecurity.com. Contacts Danielle Ostrovsky [email protected] 410-302-9459

Shytoshi Kusama claims that Shibarium is now improved and optimized. New features are being added to Shibarium to make it more scalable. On Tuesday, Shibarium’s primary developer, Shytoshi Kusama, said that the Shibarium was nearing completion of a public reopening. After experiencing extreme blockchain traffic, Shibarium entered a fail-safe mode for testing and adjusting settings. To avoid block creation and other problems, the Shibarium team is increasing the chain’s size by 1500%. New features are being added to Shibarium to make it more scalable, stable, and decentralized. Increased network safety and the ability to stake more BONE tokens are the results of new validators going live. Improved and Optimized Moreover, after two days of testing and fine-tuning settings, chief developer Shytoshi Kusama claims on the official blog posted on August 22 that Shibarium is now improved and optimized. More importantly, the chain is once again making blocks and is about to reopen. Rate limitation at the RPC level and automatic server reset are two of Shibarium’s new fail-safe mechanisms. Shiba Inu team members will also begin using ShibPaper in order to establish an effective management and governance structure. Also, the usefulness of the Shibarium chain will grow as more projects and Dapps are built on top of it, leading to more token burning. On the other hand, after a short halt before the Shibarium mainnet launch, activity on Puppynet resumed, and the network surpassed 32 million total transactions. Post going online, daily transactions immediately increased to above 170,000. Additionally, over 2.1 million blocks have been generated on the testnet. But the number of linked wallets has fallen from over 17 million to a little over 10 million. Highlighted Crypto News Today: Optimism (OP) Defies Downtrend with 5% Rally

After the Bitcoin price crash last week, on-chain data reveals a picture that points to a “top-heavy” price. Glassnode’s latest insights shed light on the current market dynamics, where a significant chunk of the BTC spot supply finds itself with a cost basis either near or surpassing the prevailing price. “Here we see that 12.8% (2.48M BTC) of the supply fell into an unrealized loss this week, setting a lower low on this metric. This suggests that ‘top heaviness’ in spot markets may also be a factor in play,” commented Checkmate, Glassnode’s chief analyst. Notably, Long-Term Holders (LTHs) have displayed remarkable resilience in this turbulent period. Their interaction with exchanges remains largely unaltered, with the aggregate balance of LTHs marking a new All-Time High (ATH) this week. In stark contrast, the behavior of Short-Term Holders (STHs) emerges as particularly salient. Checkmate notes, “With LTH supply at ATH, we can also see that STH supply remains at multi-year lows.” The data further underscores this: out of the 2.56M BTC held by STHs, a mere 300k BTC (11.7%) remains in profit, meaning that 88.3% are in loss. This needs to recover quickly, else it adds to the bear case, according to Checkmate. Historical data indicates sharp upticks in STH supply losses following periods characterized as ‘top heavy markets’ – similar to the events observed in May 2021, December 2021, and once again, the last week. Implications For Bitcoin Price The fluctuating dynamics between profits and losses witnessed in the market can be further distilled through the Profit or Loss Bias (dominance) metric. As the 2023 rally unfolded, a discernible shift was noted in the STH cohort’s position: “This week we saw the largest loss dominance reading since the March sell-off to $19.8k. This suggests that the STH cohort are both largely underwater on their holdings, and increasingly price sensitive,” added Checkmate. An intriguing revelation comes from Glassnode’s experimental tool aimed at discerning market inflection points. With a meticulous design that maps macro trends of investors and the prevalence of profitability over losses (and vice versa), this tool offers a nuanced ‘Momentum indicator’. According to Checkmate, “We can see that after several months of declining profit dominance, Loss momentum and dominance have increased meaningfully.” Notably, while false positives have been recorded – as observed in the March 2023 correction – sustained declines have historically been precursors to sharper downtrends. Overall, the Bitcoin price crash on August 17 stands as the most significant single-day decline YTD. The sell-off was primarily a futures market leverage flush out, and is thus primarily a result of short-term positioning and market structure. However, the predominant sentiment is one of caution, largely because the most significant impact has been technical, specifically falling below long-term moving averages, a factor that could sway market sentiment. Long-Term Holders remain stoic, but the spotlight is on the Short-Term Holders. With an overwhelming 88.3% (equivalent to 2.26M BTC) of their supply at an unrealized loss, combined with an uptick in realized losses sent to exchanges and a breach of key technical support, the onus is on the bulls to defend their stance. Checkmate concludes: At press time, the Bitcoin price stood at $26,084.

Circle will launch six new blockchains between September and October. Centre will no longer exist as a stand-alone entity. Coinbase, the leading crypto exchange, is increasing its support for stablecoins with an investment in Circle. Moreover, the stablecoin provider Circle and Coinbase will also maintain a commercial relationship. The two firms jointly launched the stablecoin USD Coin five years ago. Now the Circle will take full operational and governance responsibility. On August 22, Circle released a blog post announcing its redefined commercial relationship with the crypto exchange Coinbase. The two firms have agreed with the regulatory clarity on stablecoins in the U.S. and around the world. USDC will launch six new blockchains between September and October. Coinbase and Circle Reach a New Agreement According to the blog post, the requirement of a separate government body like the Centre is no longer needed. Moreover, the Centre will no longer exist as a stand-alone entity. It brings governance and operation responsibilities in-house. The new structure will enhance responsibilities, including holding smart contract keys and regularity compliance. Jeremy Allaire, the CEO and co-founder of Circle, has tweeted that Circle and Coinbase are extending and deepening their commercial relationship, with the crypto exchange taking an equity stake in Circle. Moreover, there is no value stated for the Coinbase share. As a part of this partnership, the crypto exchange and Circle have reached a new agreement. The two firms will now have even greater strategic and economic alignment for the future of the financial system. Moreover, Coinbase and Circle will continue to generate income from the USDC reserves. The crypto exchange is committed to the long-term success of stablecoins, especially USDC.

COLOGNE, Germany–(BUSINESS WIRE)–#Aviation–The European Union Aviation Safety Agency (EASA) has awarded the contract to conduct a research project on assessing blockchain technologies for the management of approved aircraft parts and components to FPT Software Europe. The project, named VIRTUA (Digital Transformation – Case Studies for Aviation Safety Standards – Virtualisation), employs an alliance of organisations, including FPT Software, the International Air Transport Association (IATA), SkyThread, and PwC France. It aims to evaluate the blockchain capacity to improve the safety management processes used by aviation authorities, operators, and a variety of industry stakeholders. The project will assess the benefits and constraints of blockchain implementation, considering the different stakeholders involved in the management of aircraft parts and components. It will investigate different types of blockchains and different use cases for their implementation along the lifecycle of approved parts and components. If the benefits are confirmed, the project will assess the main changes to be introduced in regulations, standards, and working processes, as well as the preparation of guidelines and supporting materials for regulatory evolutions and the deployment of the related solutions. “The implementation of blockchain technologies for the management of approved aircraft parts and components could impact the whole lifecycle of certificates, from their issuance by production organizations to the changes introduced by design or maintenance organizations,” said Nick Careen, IATA’s Senior VP Operations, Safety and Security. “We believe that this project will provide a comprehensive vision on how blockchain solutions could contribute to addressing the issue.” “In aviation, the complexities of new technology implementations often result in delayed access to the benefits of innovation. But blockchain holds the power to enhance efficiency, simplify transactions, and improve safety,” said Inigo Arsuaga, FPT Software’s Aviation Digital Transformation Expert. “With the VIRTUA project, there will be a roadmap for blockchain that guides the sector to fruitful results from implementing it,” he added. The project is expected to contribute significantly to the improvement of safety management processes in the aviation industry and is aligned with EASA’s mission to promote the highest common standards of safety and environmental protection in aviation. With years of industry experience and an extensive partner network with major airline giants in Europe, the United States, and Vietnam, FPT Software has been contributing to transforming the global aviation industry through disruptive digital services and solutions. In Europe, the company has established a solid presence in eight countries, serving nearly 100 organizations. About FPT Software FPT Software, a subsidiary of FPT Corporation, is a global technology and IT services provider headquartered in Vietnam, with $803 million in revenue (2022) and over 27,000 employees in 28 countries. The company champions complex business opportunities and challenges with its world-class services in Advanced Analytics, AI, Digital Platforms, Cloud, Hyperautomation, IoT, Low-code, and so on. It has partnered with over 1,000+ clients worldwide, 89 of which are Fortune Global 500 companies in Aviation, Automotive, Banking, Financial Services and Insurance, Healthcare, Logistics, Manufacturing, Utilities, and more. For more information, please visit https://fptsoftware.com/ Contacts Mai Duong (Ms.) FPT Software PR Manager [email protected]

Bullish HT price prediction for 2023 is $2.6725 to $3.7268. Huobi Token (HT) price might reach $5 soon. Bearish HT price prediction for 2023 is $1.3386. In this Huobi Token (HT) price prediction for 2023, 2024-2030, we will analyze the price patterns of HT by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency. TABLE OF CONTENTS INTRODUCTION Huobi Token (HT) Current Market Status What is Huobi Token (HT)? Huobi Token (HT) 24H Technicals HUOBI TOKEN (HT) PRICE PREDICTION 2023 Huobi Token (HT) Support and Resistance Levels Huobi Token (HT) Price Prediction 2023 — RVOL, MA, and RSI Huobi Token (HT) Price Prediction 2023 — ADX, RVI Comparison of HT with BTC, ETH HUOBI TOKEN (HT) PRICE PREDICTION 2024, 2025, 2026-2030 CONCLUSION FAQ Huobi Token (HT) Current Market Status Current Price $2.40 24 – Hour Price Change 0.17% Down 24 – Hour Trading Volume $11,074,565 Market Cap $390,020,336 Circulating Supply 162,233,844 HT All – Time High $39.81 (May 12, 2021) All – Time Low $0.8903 (On Jan 30, 2019) HT Current Market Status (Source: CoinMarketCap) What is Huobi Token (HT) TICKER HT BLOCKCHAIN Etehreum CATEGORY Decentralized digital asset LAUNCHED ON January 2018 UTILITIES Governance, security, gas fees & rewards Huobi Token (HT) is the native cryptocurrency of the Huobi Global exchange. It was founded in 2018 and facilitates on-platform governance, rewards, and special event access. It became popular among the early investors which let users invest in trading and Initial Coin Offerings (ICOs). Huobi Token 24H Technicals (Source: TradingView) Huobi Token (HT) Price Prediction 2023 Huobi Token (HT) ranks 84th on CoinMarketCap in terms of its market capitalization. The overview of the Huobi Token price prediction for 2023 is explained below with a daily time frame. HT/USDT Descending Channel Pattern (Source: TradingView) In the above chart, Huobi Token (HT) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend. Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts. At the time of analysis, the price of Huobi Token (HT) was recorded at $2.40. If the pattern trend continues, then the price of HT might reach the resistance levels of $2.9924, $3.4972, and $4.0680. If the trend reverses, then the price of HT may fall to the support of $2.3406 Huobi Token (HT) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of Huobi Token (HT) in 2023. HT/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as the resistance and support levels of Huobi Token (HT) for 2023. Resistance Level 1 $2.6725 Resistance Level 2 $3.7268 Support Level 1 $1.9224 Support Level 2 $1.3386 HT Resistance & Support Levels Huobi Token (HT) Price Prediction 2023 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Huobi Token (HT) are shown in the chart below. HT/USDT RVOL, MA, RSI (Source: TradingView) From the readings on the chart above, we can make the following inferences regarding the current Huobi Token (HT) market in 2023. INDICATOR PURPOSE READING INFERENCE 50-Day Moving Average (50MA) Nature of the current trend by comparing the average price over 50 days 50 MA = $2.6283Price = $2.3914 (50MA > Price) Bearish(Downtrend) Relative Strength Index (RSI) Magnitude of price change;Analyzing oversold & overbought conditions 25.67 <30 = Oversold 50-70 = Neutral>70 = Overbought Oversold Relative Volume (RVOL) Asset’s trading volume in relation to its recent average volumes Below cutoff line Weak Volume Huobi Token (HT) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of Huobi Token (HT) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI). HT/USDT ADX, RVI (Source: TradingView) From the readings on the chart above, we can make the following inferences regarding the price momentum of Huobi Token (HT). INDICATOR PURPOSE READING INFERENCE Average Directional Index (ADX) Strength of the trend momentum 64.5961 StrongTrend Relative Volatility Index (RVI) Volatility over a specific period 33.74 <50 = Low >50 = High Low Volatility Comparison of HT with BTC, ETH Let us now compare the price movements of Huobi Token (HT) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs HT Price Comparison (Source: TradingView) From the above chart, we can interpret that the price action of HT is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of HT also increases or decreases respectively. Huobi Token (HT) Price Prediction 2024, 2025 – 2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Huobi Token (HT) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030. Year Bullish Price Bearish Price Huobi Token (HT) Price Prediction 2024 $6 $2 Huobi Token (HT) Price Prediction 2025 $8 $2.5 Huobi Token (HT) Price Prediction 2026 $11 $3.3 Huobi Token (HT) Price Prediction 2027 $15 $3.6 Huobi Token (HT) Price Prediction 2028 $18 $3.7 Huobi Token (HT) Price Prediction 2029 $20 $3.9 Huobi Token (HT) Price Prediction 2030 $25 $4 Conclusion If Huobi Token (HT) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Huobi Token (HT) price prediction for 2023 is $3.7268. Comparatively, the bearish Huobi Token (HT) price prediction for 2023 is $1.3386. If there is a positive elevation in the market momentum and investors’ sentiment, then Huobi Token (HT) might hit $5. Furthermore, with future upgrades and advancements in the Huobi Token ecosystem, HT might surpass its current all-time high (ATH) of $39.81 and mark its new ATH. FAQ 1. What is Huobi Token (HT)? Huobi Token is an ecosystem token launched by Huobi Global, which offers benefits such as trading fees and margin discounts and access to certain trading events. 2. Where can you buy Huobi Token (HT)? Huobi Token (HT) has been listed on many crypto exchanges which include Huobi Global, LBank,BitMart , Gate.io, and MEXC 3. Will Huobi Token (HT) record a new ATH soon? With the ongoing developments and upgrades within the Huobi Token platform, Huobi Token (HT) has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of Huobi Token (HT)? Huobi Token (HT) hit its current all-time high (ATH) of $39.81 on May 12, 2021. 5. What is the lowest price of Huobi Token (HT)? According to CoinMarketCap, HT hit its all-time low (ATL) of $0.8903 on Jan 30, 2019. 6. Will Huobi Token (HT) hit $5? If Huobi Token (HT) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $5 soon. 7. What will be the Huobi Token (HT) price by 2024? Huobi Token (HT) price might reach $6 by 2024. 8. What will be the Huobi Token (HT) price by 2025? Huobi Token (HT) price might reach $8 by 2025. 9. What will be the Huobi Token (HT) price by 2026? Huobi Token (HT) price might reach $11 by 2026. 10. What will be the Huobi Token (HT) price by 2027? Huobi Token (HT) price might reach $15 by 2027. Top Crypto Predictions Pepe (PEPE) Price Prediction 2023 Waves (WAVES) Price Prediction 2023 Avalanche (AVAX) Price Prediction 2023 Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Optimism (OP) experienced a rally of 5%, propelling its price to $1.79. A surge in active addresses, hitting 22.9K, highlighted Optimism’s (OP) most promising day in 2023. In the midst of a challenging period for major altcoins, Ethereum’s scaling solution, Optimism (OP), defies the downtrend. Today, the cryptocurrency displayed its resilience with a 5% rally, propelling its value to $1.79. Further, a significant 22.9K active addresses marked one of the most promising days for Optimism (OP) in the entirety of 2023. According to market intelligence Santiment, high-value addresses—predominantly held by influential whales and sharks—have consistently maintained their positions, collectively amounting to $781.9 million. This commitment from major players signals strong confidence in the long-term potential of Optimism (OP). Optimism (OP) Price Back on Track? Since August 10th, a downward trend has been evident in Optimism’s (OP) price. This challenging period underscores the significance of the OP cryptocurrency. At the time of writing, Optimism’s (OP) price is at $1.53, showcasing a significant rally of 3.80% with a market cap of $1.09 billion. Further, the trading volume has surged by 110% during the intraday trading session, indicating renewed interest and active participation from the trading community. Zooming out to a week’s time frame, Optimism (OP) has exhibited a modest increase of around 0.26%. Over the past month, the cryptocurrency has declined by approximately 2.79%. Despite these price fluctuations, it’s essential to highlight the recovery in Optimism (OP), an impressive gain of 66.48% year-to-date. Optimism (OP) Price Chart (Source: TradingView) Further, the recent development is the convergence of Optimism’s (OP) 50-day moving average (50MA) towards its 200-day moving average (200MA). This trend sentiment finds positive momentum in Optimism’s (OP) current positioning above its 50-day exponential moving average (50-day EMA). Moreover, a crucial metric, the Relative Strength Index (RSI), is presently situated at 51, indicating a new correlation in the price momentum. Recommended for you Optimism (OP) Price Prediction 2023

Bullish ETC price prediction for 2023 is $18.20 to $26.10 Ethereum Classic (ETC) price might reach $30 soon. Bearish ETC price prediction for 2023 is $9.31. In this Ethereum Classic (ETC) price prediction 2023, 2024-2030, we will analyze the price patterns of ETC by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency. TABLE OF CONTENTS INTRODUCTION Ethereum Classic (ETC) Current Market Status What is Ethereum Classic (ETC)? Ethereum Classic (ETC) 24H Technicals ETHEREUM CLASSIC (ETC) PRICE PREDICTION 2023 Ethereum Classic (ETC) Support and Resistance Levels Ethereum Classic (ETC) Price Prediction 2023 — RVOL, MA, and RSI Ethereum Classic (ETC) Price Prediction 2023 — ADX, RVI Comparison of ETC with BTC, ETH ETHEREUM CLASSIC (ETC) PRICE PREDICTION 2024, 2025, 2026-2030 CONCLUSION FAQ Ethereum Classic (ETC) Current Market Status Current Price $15.711 24 – Hour Price Change 1.02% Up 24 – Hour Trading Volume $114,261,797 Market Cap $2,240,134,554 Circulating Supply 142,602,562 ETC All – Time High $176.16 (May 06, 2021) All – Time Low $0.4524 (On Jul 25, 2016) ETC Current Market Status (Source: CoinMarketCap) What is Ethereum Classic (ETC) TICKER ETC BLOCKCHAIN Ethereum Classic CATEGORY Blockchain-based distributed computing platform LAUNCHED ON July 2015 UTILITIES Governance, security, gas fees & rewards Ethereum Classic (ETC) is the native cryptocurrency that exists on the Ethereum Classic blockchain. Ethereum Classic is an open-source smart contracts-based platform that holds onto the original Ethereum blockchain. This sister chain of Ethereum was launched as a result of a controversial hard fork of Ethereum in July 2016. Ethereum Classic secures its blockchain through the proof-of-work (PoW) consensus mechanism. It is merely the continuation of the pioneer Ethereum Chain. It allows developers and users to create dApps through lucrative smart contracts. Ethereum Classic 24H Technicals (Source: TradingView) Ethereum Classic (ETC) Price Prediction 2023 Ethereum Classic (ETC) ranks 29th on CoinMarketCap in terms of its market capitalization. The overview of the Ethereum Classic price prediction for 2023 is explained below with a daily time frame. ETC/USDT Descending Channel Pattern (Source: TradingView) In the above chart, Ethereum Classic (ETC) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend. Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts. At the time of analysis, the price of Ethereum Classic (ETC) was recorded at $15.71. If the pattern trend continues, then the price of ETC might reach the resistance levels of $16.31, $20.84, $25.70, and $35.24. If the trend reverses, then the price of ETC may fall to the support of $14.11 Ethereum Classic (ETC) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of Ethereum Classic (ETC) in 2023. ETC/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as the resistance and support levels of Ethereum Classic (ETC) for 2023. Resistance Level 1 $18.20 Resistance Level 2 $26.10 Support Level 1 $12.95 Support Level 2 $9.31 ETC Resistance & Support Levels Ethereum Classic (ETC) Price Prediction 2023 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Ethereum Classic (ETC) are shown in the chart below. ETC/USDT RVOL, MA, RSI (Source: TradingView) From the readings on the chart above, we can make the following inferences regarding the current Ethereum Classic (ETC) market in 2023. INDICATOR PURPOSE READING INFERENCE 50-Day Moving Average (50MA) Nature of the current trend by comparing the average price over 50 days 50 MA = $18.15Price = $15.79 (50MA > Price) Bearish(Downtrend) Relative Strength Index (RSI) Magnitude of price change;Analyzing oversold & overbought conditions 32.59 <30 = Oversold 50-70 = Neutral>70 = Overbought Oversold Relative Volume (RVOL) Asset’s trading volume in relation to its recent average volumes Below cutoff line Weak Volume Ethereum Classic (ETC) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of Ethereum Classic (ETC) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI). ETC/USDT ADX, RVI (Source: TradingView) From the readings on the chart above, we can make the following inferences regarding the price momentum of Ethereum Classic (ETC). INDICATOR PURPOSE READING INFERENCE Average Directional Index (ADX) Strength of the trend momentum 47.41 StrongTrend Relative Volatility Index (RVI) Volatility over a specific period 61.42 <50 = Low >50 = High High Volatility Comparison of ETC with BTC, ETH Let us now compare the price movements of Ethereum Classic (ETC) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs ETC Price Comparison (Source: TradingView) From the above chart, we can interpret that the price action of ETC is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of ETC also increases or decreases respectively. Ethereum Classic (ETC) Price Prediction 2024, 2025 – 2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Ethereum Classic (ETC) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030. Year Bullish Price Bearish Price Ethereum Classic (ETC) Price Prediction 2024 $35 $9.55 Ethereum Classic (ETC) Price Prediction 2025 $38 $10 Ethereum Classic (ETC) Price Prediction 2026 $41 $13 Ethereum Classic (ETC) Price Prediction 2027 $45 $16 Ethereum Classic (ETC) Price Prediction 2028 $48 $17 Ethereum Classic (ETC) Price Prediction 2029 $50 $19 Ethereum Classic (ETC) Price Prediction 2030 $55 $20 Conclusion If Ethereum Classic (ETC) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Ethereum Classic (ETC) price prediction for 2023 is $26.10. Comparatively, the bearish Ethereum Classic (ETC) price prediction for 2023 is $9.31. If there is a positive elevation in the market momentum and investors’ sentiment, then Ethereum Classic (ETC) might hit $30. Furthermore, with future upgrades and advancements in the Ethereum Classic ecosystem, ETC might surpass its current all-time high (ATH) of $176.16 and mark its new ATH. FAQ 1. What is Ethereum Classic (ETC)? Ethereum Classic (ETC) is the native cryptocurrency of the Ethereum Classic blockchain. Ethereum Classic is an open-source smart contracts-based network that is built based on the original Ethereum blockchain. 2. Where can you buy Ethereum Classic (ETC)? Ethereum Classic (ETC) has been listed on many crypto exchanges which include Binance, OKEx and Huobi Global. 3. Will Ethereum Classic (ETC) record a new ATH soon? With the ongoing developments and upgrades within the Ethereum Classic platform, Ethereum Classic (ETC) has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of Ethereum Classic (ETC)? Ethereum Classic (ETC) hit its current all-time high (ATH) of $176.16 on May 06, 2021. 5. What is the lowest price of Ethereum Classic (ETC)? According to CoinMarketCap, ETC hit its all-time low (ATL) of $0.4524 on Jul 25, 2016. 6. Will Ethereum Classic (ETC) hit $30? If Ethereum Classic (ETC) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $30 soon. 7. What will be the Ethereum Classic (ETC) price by 2024? Ethereum Classic (ETC) price might reach $35 by 2024. 8. What will be the Ethereum Classic (ETC) price by 2025? Ethereum Classic (ETC) price might reach $38 by 2025. 9. What will be the Ethereum Classic (ETC) price by 2026? Ethereum Classic (ETC) price might reach $41 by 2026. 10. What will be the Ethereum Classic (ETC) price by 2027? Ethereum Classic (ETC) price might reach $45 by 2027. Top Crypto Predictions Pepe (PEPE) Price Prediction 2023 Waves (WAVES) Price Prediction 2023 Avalanche (AVAX) Price Prediction 2023 Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Ripple’s token price is showing bearish signs below $0.580 against the US Dollar. XRP price could start another decline if it trades below $0.480. Ripple’s token price is struggling to recover above $0.550 and $0.580 against the US dollar. The price is now trading below $0.56 and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.580 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might start another decline if there is a break below $0.480. Ripple’s Token Price Faces Uphill Task After a major decline to $0.40, Ripple’s XRP started an upside correction against the US Dollar. The price recovered a few points above the $0.45 and $0.48 resistance levels, similar to Bitcoin and Ethereum. The bulls pushed the price above the 50% Fib retracement level of the main decline from the $0.6654 swing high to the $0.3995 low. The price climbed above the $0.50 level. However, the bears are active near the $0.550 resistance zone. XRP is now trading below $0.56 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.580 on the 4-hour chart of the XRP/USD pair. Initial resistance on the upside is near the $0.550 zone. The next major resistance is near the $0.565 level or the 61.8% Fib retracement level of the main decline from the $0.6654 swing high to the $0.3995 low. The main resistance is now forming near the $0.580 zone and the trend line. Source: XRPUSD on TradingView.com A successful break above the $0.580 resistance level might send the price toward the $0.60 resistance or the 100 simple moving average (4 hours). Any more gains might call for a test of the $0.6650 resistance. Another Drop in XRP? If ripple fails to clear the $0.565 resistance zone, it could start another decline. Initial support on the downside is near the $0.500 zone. The next major support is near $0.480. If there is a downside break and a close below the $0.480 level, XRP’s price could extend losses. In the stated case, the price could retest the $0.400 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.50, $0.480, and $0.40. Major Resistance Levels – $0.550, $0.565, and $0.580.

Ethereum price is struggling to recover above the $1,700 resistance against the US Dollar. ETH could start a fresh decline if it stays below $1,700 and $1,720. Ethereum is struggling to recover above the $1,700 and $1,720 levels. The price is trading below $1,700 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,680 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline if it stays below the $1,700 level in the near term. Ethereum Price Consolidates Below $1,700 Ethereum’s price started a recovery wave from the $1,520 zone. ETH managed to recover above the $1,550 and $1,580 levels, similar to Bitcoin. However, the price is struggling to recover above the $1,700 and $1,720 levels. It is now moving lower and trading below the 23.6% Fib retracement level of the recovery wave from the $1,517 swing low to the $1,716 high. There is also a key bearish trend line forming with resistance near $1,680 on the hourly chart of ETH/USD. Ether is now trading below $1,700 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1,680 level and the trend line. Source: ETHUSD on TradingView.com The next resistance is near $1,690 or the 100-hourly Simple Moving Average. The first major resistance is forming near $1,700 and $1,720. A close above the $1,720 level could start a decent increase in the near term. The next major resistance is near the $1,750 level. Any more gains might send the price toward the $1,820 resistance or even $1,880 in the coming days. Another Drop in ETH? If Ethereum fails to clear the $1,700 resistance, it could start another decline. Initial support on the downside is near the $1,620 level or the 50% Fib retracement level of the recovery wave from the $1,517 swing low to the $1,716 high. The first major support is near the $1,600 zone. If there is a downside break below $1,600, there could be more losses. The next major support is near the $1,565 support level. Any more losses might send the price toward the $1,520 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,600 Major Resistance Level – $1,700

Bitcoin price is struggling to recover above the $26,500 level. BTC could gain bearish momentum if there is a move below the $25,600 support. Bitcoin is struggling to recover above the $26,500 resistance zone. The price is trading below $26,400 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support near $26,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if there is a break below the $25,600 support. Bitcoin Price Aims Lower Bitcoin price attempted a recovery wave above the $26,000 resistance zone. BTC climbed above $26,200 but struggled to continue higher. It formed a top near the $26,500 zone and recently started a fresh decline. There was a move below the $26,200 level. Besides, there was a break below a connecting bullish trend line with support near $26,000 on the hourly chart of the BTC/USD pair. Bitcoin tested the 50% Fib retracement level of the recovery wave from the $24,800 swing low to the $26,981 high. It is now trading below $26,400 and the 100 hourly Simple moving average. Immediate resistance is near the $26,100 level and the 100 hourly Simple moving average. The next major resistance is near $26,250. A clear move above the $26,250 resistance might send the price toward the $26,500 resistance zone. Source: BTCUSD on TradingView.com The main breakout zone is now forming near the $27,000 zone. A close above the $27,000 resistance could start a decent increase toward the $27,550 resistance zone. Any more gains might set the pace for a larger increase toward $28,150. Another Decline In BTC? If Bitcoin fails to clear the $26,250 resistance, it could continue to move down. Immediate support on the downside is near the $25,900 zone. The next major support is near the $25,600 level or the 61.8% Fib retracement level of the recovery wave from the $24,800 swing low to the $26,981 high. A downside break below the $25,600 level might push the price further into a bearish zone. In the stated case, the price could drop toward $25,000. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $25,900, followed by $25,600. Major Resistance Levels – $26,250, $26,500, and $27,000.

In a recent development, THORChain (RUNE), the liquidity network, has unveiled its lending feature, enabling users to leverage their native Layer-1 (L1) assets, such as Bitcoin (BTC) and Ethereum (ETH), to secure loans denominated in TOR, a USD equivalent stablecoin. According to the announcement, this move opens up new avenues for financial participation, allowing users to borrow funds without the “burdens” of interest, liquidations, or expiration. THORChain Introduces Interest-Free Loans The lending process is designed to be user-friendly and “straightforward,” focusing on minimizing cognitive burden. Depending on prevailing market conditions, borrowers can collateralize their assets within a range of collateralization ratios (CR), ranging from 200% to 500%. The CR determines the amount of debt borrowers can receive in proportion to their collateral. One of the critical advantages of THORChain’s lending protocol is the absence of interest charges. By eliminating interest, the protocol encourages borrowers to hold onto their loans for extended periods, thereby increasing the equity value of the protocol. This approach aims to align the interests of borrowers with the protocol itself, fostering a mutually beneficial ecosystem. Furthermore, THORChain’s lending system does not involve liquidations. In traditional lending models, borrowers risk having their collateral forcibly sold if its value falls below a certain threshold. However, THORChain’s design eliminates this risk by treating the collateral as equity (RUNE IOU). Consequently, if the collateral falls below the debt value, it does not pose a problem, as the stored equity acts as the liability. Per the report, this approach ensures a more user-friendly experience and eliminates the need for borrowers to monitor asset prices constantly. The loans issued through THORChain’s lending feature have a minimum period of 30 days, providing borrowers with flexibility. Repayment can occur anytime after the initial 30-day period, allowing borrowers to manage their debt according to their circumstances. Partial repayments are also possible, although the collateral is not released until the debt is fully repaid. THORChain’s Circuit Breaker System To enhance security and protect against inflation, THORChain has implemented a circuit breaker mechanism. In the event of a drastic drop in RUNE’s price-native token of the THORchain network- against collateral assets such as BTC and ETH, which could lead to net inflation of RUNE, the system will pause new loans and disable the lending feature. At this point, no further inflation of RUNE can occur, and the protocol’s reserve will cover the remaining collateral payouts. Initially, the lending feature will support BTC and ETH collateral, with plans to expand to other Layer 1 gas assets, including Binance Coin (BNB), Litecoin (LTC), Avalanche (AVAX), and DOGE. According to the announcement, this expansion will further diversify borrowing options, accommodating a broader range of users and assets. Overall, with the introduction of the lending feature, THORChain takes a significant step toward expanding financial opportunities within its liquidity network. As of the latest update, THORChain’s native token, RUNE, has experienced a decline of nearly 8% within the past 24 hours, currently trading at $1.694, despite the anticipation surrounding the announcement of the new lending protocol. Nevertheless, the token has successfully maintained substantial gains of 20% and 80% over the past seven and fourteen days, respectively, attributed to a simultaneous increase in the social volume of the THORChain cryptocurrency. Featured image from iStock, chart from TradingView.com

While most altcoins are looking toward a recovery from the recent market crash, the AVAX price seems to be gearing up for the opposite. The reason behind this is the massive token unlock that is set to occur this week, which will undoubtedly place more sell pressure on the already struggling price of the digital asset. $102 Million In AVAX Set To Be Unlocked The Avalanche network, like a lot of others, has locked a portion of its total token supply to be released into circulation on a periodic basis. Given that these unlock events can put bearish pressure on a token, they can often be a signal to exit. For AVAX, the next token unlock event is set to take place on August 26, five days from now. But the most interesting thing about this event is the number of tokens set to be brought into circulation. According to the token tracking website Token Unlocks, a total of 9.54 million tokens are set to be unlocked on Saturday. This accounts for 2.77% of the total circulating supply of the asset, worth $102.29 million at current prices. The website also shows that the unlocked tokens are being distributed in four allocations. These include 1.13 million tokens ($12.06 million) for airdrop, 1.67 million tokens (17.87 million) for Foundation, 2.25 million tokens ($24.12 million) for strategic partners, and 4.5 million tokens ($48.24 million) for the team. With this unlock, over 55% of the total token supply will be unlocked, leaving less than 45% of the supply locked. And as these 9.54 million tokens make their way to the market, it could be very bad for investors. Will AVAX Price Be Impacted? Given the allocation of the $102 million in tokens set to be unlocked, it is likely that a large chunk of it is going to hit the open market. As a result of such a large amount of selling, the AVAX price will certainly be impacted, making an already bad situation worse. This will likely see the price of the digital asset fall below $10 for the first time since July 2021. Trading in the single-digit will see AVAX holders plunged further into losses, even though the vast majority are already sitting in the red, according to data from IntoTheBlock. AVAX’s indicators are also incredibly bearish at this point with the price sitting below the 100-day and 200-day simple moving averages. This rules out a recovery for the digital asset in the short term, especially with the unlock event coming up. At the time of writing, the AVAX price is sitting tentatively at $10.56, down 13.15% in the last week.

The largest cryptocurrency by market cap, Bitcoin (BTC), dropped after a prolonged period of consolidation around the $29,000 mark. The failure to sustain this level has resulted in a decline to $26,000. Interestingly, Bitcoin’s recent reversal has coincided with speculations of an imminent bull run, with many believing that the cryptocurrency winter is over and that lower price levels will not be revisited. Nonetheless, this sentiment shifted on July 14th when the US Dollar Index (DXY) initiated a robust rally, surging from 99 points to its current level of 103. As the DXY began its ascent, Bitcoin’s trajectory turned downward, leading to a downtrend that caused the cryptocurrency to relinquish a significant portion of its 2023 gains. Conversely, before July, BTC experienced a surge to its yearly high of $31,800, while the DXY declined. Despite this development, Glassnode co-founder Yan Allemann suggests that in the coming months, it will be Bitcoin’s turn to reclaim the spotlight and assert its dominance once again. BTC’s Last Consolidation Phase? Glassnode co-founder Yan Allemann has shared insights on the current market conditions and predicts an imminent surge in Bitcoin’s value as the autumn approaches. Allemann’s analysis suggests that the US Dollar is expected to reach a peak level of 106, which will catalyze a prime environment for Bitcoin. Historically, the inverse correlation between the Dollar and Bitcoin has been observed, where a stronger Dollar tends to put downward pressure on the cryptocurrency’s price. Conversely, a peak in the Dollar often coincides with a favorable environment for Bitcoin to thrive. This said, Allemann believes that Bitcoin is projected to reach the $37,000 level before embarking on a significant upward movement during the autumn season. This anticipated surge in value aligns with the patterns observed in previous market cycles, where Bitcoin has experienced notable price rallies during the latter part of the year. It remains to be seen how this narrative unfolds, but one thing is clear: the dynamics between Bitcoin and the US dollar continue to shape the cryptocurrency landscape. Historical Data Reveals September Struggles For Bitcoin According to data by CoinGlass, August, and September have historically presented challenges for Bitcoin, making them notorious months for the cryptocurrency’s performance. With 10 days remaining until the monthly close, August has already proven to be a difficult month for Bitcoin, experiencing a 12% decline over the past 30 days. However, this downtrend may not come to a halt just yet, as historical data indicates that September could pose additional obstacles to Bitcoin’s price trajectory. Examining the chart above, it becomes evident that September has historically been a challenging period for Bitcoin. In some instances, the cryptocurrency has witnessed substantial price drops, reaching as high as 19%. This suggests that the coming month could potentially be characterized by further downward pressure on Bitcoin’s price. However, it is important to note that historical trends also indicate the possibility of more modest declines. In 2013, for example, Bitcoin’s price only decreased by 1% during September, defying the broader negative sentiment associated with the month. This demonstrates that while September has a historical reputation for difficulty, it does not guarantee a significant downturn for Bitcoin in every instance. While Bitcoin has faced headwinds in August and historically in September, it is worth remembering that the cryptocurrency has demonstrated resilience and the ability to recover from downturns in the past. Market conditions, macroeconomic factors, and regulatory developments can all contribute to the price fluctuations of Bitcoin and other cryptocurrencies. Featured image from iStock, chart from TradingView.com

Shiba Inu (SHIB) token has witnessed high-value transactions again, leading to intrigue among its community. As significant amounts of SHIB change hands, many wonder if these moves signal a forthcoming positive shift in its market position or a rebound, as the asset is currently in a downtrend. Whale Alert, a renowned blockchain tracking platform, disclosed that a transaction of 4.65 trillion SHIB tokens, equating to approximately $38.39 million, moved from Bitvavo to an unidentified wallet. High-Value Transactions Coincide With Shibarium’s Developments It’s worth noting that this isn’t an isolated event. A similar transaction occurred just a day prior, where an almost equivalent amount of 4.6 trillion SHIB tokens (around $38.70 million) was transferred from one undisclosed wallet to another. These high-value transfers correlate with the start of Shibarium, the Ethereum-based layer-2 blockchain, which has been the cause of a spike in SHIB transactions. The surging activity, especially after introducing the Shibarium blockchain, naturally raised eyebrows within the Shiba Inu community. To address rising concerns about the safety of assets, the Shiba Inu team came forward in its “All Is Well” blog post, offering clarity on the technical issues, and emphasizing the security of the users’ assets. SHIB Rebound On The Horizon? While it’s undeniable that there may be growing attention on Shiba Inu, especially after these whale activities and the Shibarium blockchain’s developments. It may be too soon to forecast the exact trajectory SHIB will take. However, analyzing the Shiba Inu price chart suggests there could be a potential rebound, though it might not be imminent. On the 4-hour chart, Shiba Inu displays a pronounced downward wick. This indicates the presence of more liquidity in this downside range, which could suggest further decline as market makers may seek to capture this liquidity. To clarify, a wick refers to the thin line/vertical line above or below the main body of a candlestick. The wick represents an asset’s highest and lowest prices during a specific time frame, such as the candle marked above. Regardless of the above analysis, significant whale purchases highlight the commitment of Shiba Inu’s investors. Such activities underscore their interest in adding to their SHIB holdings. This growing attention on SHIB is especially noteworthy given its recent Shibarium project launch. Featured image from Unsplash, Chart from TradingView

Bitcoin price just experienced one of its fastest and sharpest corrections in over a year, dropping 10% in a matter of minutes. The mass liquidations and panic from the selloff caused BTCUSD daily charts to reach the most oversold level since the COVID crash in early 2020. BTC Panic-Selling Reaches Extremes Not Seen Since COVID Crash As much as people try to fight it, investing and trading is an emotion-driven process. Few emotions cause humans to take action more urgently than those associated with fear and panic. This is precisely why selloffs tend to be sharper and scarier than bull markets. “Bulls take the stairs, bears ride the elevator” is just one adage that symbolizes this noted market behavior. For example, the COVID collapse in March 2020 took only a matter of days to erase 70% of Bitcoin’s price. This instance was the last time the Relative Strength Index technical indicator on the daily timeframe became this oversold. After Bitcoin’s recently drop this week, the daily RSI is back at a similar extreme for the first time in more than three years. What isn’t clear quite yet, is if the extreme represents another ideal buying opportunity, or if this is the onset of a deeper decline. Bitcoin Daily RSI Plunges To Most Oversold Level Since 2020 The Relative Strength Index is a momentum indicator that tells investors and traders when an asset is overbought and oversold on a relative basis. When the tool reaches extremes above 70 or below 30, it can present an opportunity to buy or sell. The RSI is now lower than the LUNA or FTX collapse, or at any point since March 2020. During especially strong moves, however, the RSI can remain elevated for extended phases despite reaching such overheated readings. Such was the case in December 2018, the previous instance of the daily Bitcoin RSI reaching such a low. In that case, the RSI stayed hot for two full weeks, cutting down BTCUSD price by another 40% before it was all said and done. A 40% correction in Bitcoin would take prices back to the November 2022 bottom. If Bitcoin instead rebounds and reacts more akin to 2020, new all-time highs could be just months away. If not, a deeper reset is possible.