NFT Platform Cargo Founder on Building on Ethereum – CoinCentral


Cargo is an all-in-one platform to create, manage, and sell digital collectibles. Because of the interoperability that Ethereum provides, users can manage all of their compatible digital collectibles on Cargo– not just the ones created on Cargo. 

Launched in July 2020, Cargo represented several years of Founder Sean Papanikolas’ research and experimentation within the Ethereum ecosystem. Sean helped pioneer scalable minting technology on the Ethereum blockchain. 

With the launch of the Cargo Marketplace shortly after, Cargo has grown to voter 265 accounts created and over 170 unique digital items added to the marketplace. So far, the highest an item sold for has been for around $1200. 

We connected with Sean to discuss his entrepreneurial journey within the cryptocurrency landscape and the future of Non-Fungible Tokens

Could you give us a two-minute movie trailer of your life? How did you end up involved in the NFT space?

In 2017 a friend introduced me to Ethereum and It immediately piqued my interest. I’m drawn toward new technologies, but I’ve found the best way to understand them is to build something on them. So, I decided to build a dApp. At the time, I was dating a woman who was a fan of The Bachelor, so I created a smart contract betting on who would win The Bachelor. 

Well, nobody used the contract and the relationship didn’t work out, but I saw the power of Ethereum and learned how to write smart contracts in the process.

I asked my friend if he had an idea about something else we could build on Ethereum and he came back with an idea – a marketplace of 3D models. We planned on calling it Pedddle with three d’s – you know for “3D” models. We had the Pedddle t-shirts made and we were off to the races. 

Through this, I got familiar with the ERC-721 standard and even came up with an ERC-20 token called xR coin that would be used to purchase the 3D models. By the middle of 2017, I had a working prototype where users could upload 3D models and the platform would create NFTs and you could sell them.  

Unfortunately, my partner dropped out, so I scrapped Pedddle and started working on a digital collectible iOS and Android app to bring crypto to the masses. The plan was to abstract all of the crypto stuff and users could pay with a credit card.

The app was called Dolli and it allowed users to buy and collect grungy characters – most notably of which was the infamous Pizza Rob, which was a pretty big hit that I designed. The app was completed and ready to ship, but right before the launch, the payment processor rejected supporting the Dolli app. (At the time, payment processors wouldn’t touch a crypto app with a ten-foot pole.)

I tried a couple of other payment providers but soon came to realize that I was facing a centralization of power – the exact thing bitcoin was supposed to fix. I decided to rebuild Dolli using a decentralized infrastructure. 

That was the catalyst for Cargo. I knew there had to be others like me who would benefit from a platform that allowed you to create digital collectibles, interact with and sell them within your application.

For someone looking to get involved, either as an investor or as an entrepreneur, how would you define opportunity in the cryptocurrency space?

I’m not an investor, so take this with a grain of salt, but you want to look at the technology and the team. Who’s the team building the product, what are they building, and can they pull it off? 

The same applies to launching a startup. Even if the technology may be difficult to understand, you want to look at the team. In my case, I was fortunate to have teamed up with Polyient Labs, an early-stage blockchain incubator founded by Brad Robertson. He and his team understand the crypto and blockchain space, which is why they saw Cargo’s potential.

How will NFTs change day-to-day life?

I think for many people, it’s only a matter of time until NFTs are part of their daily life.

NFTs help make sense for digital ownership. Think about all the digital things you can own – art, tickets, subscriptions, access tokens, the list goes on. 

So, it may be that everyone eventually owns a piece of digital art and has it hanging in an electronic frame on their wall, or they are buying NFT tickets that they can trade or transfer. 

Or imagine that in every video game you played you actually owned the in-game items and could take them out of the game and sell them on secondary markets, or even use them in other games. This is exactly the ecosystem that Polyient Games and I are building.  

What does Cargo accomplishing its 5-year vision look like?

Hard to tell where the space as a whole will be in five years. We are really at an inflection point now, but I imagine that we will have made great strides in usability and scalability. But no matter, Cargo intends to be the platform of choice to power any NFT project regardless of whether it is small or large. 

For now, Cargo will continue building on Ethereum, but Ethereum in its current state could look significantly different in five years. We may be building on the next iteration of Ethereum, or a layer-2 solution. No matter what we are building on, we intend to take our principles of usability and scalability with us.

Can you explain how Cargo differs from other NFT platforms?

Cargo has spearheaded and is the first platform to integrate EIP-2309 which is a standard event to track the infinite creation of NFTs. Using efficient data structures, Cargo pioneered a smart contract allowing creators of the batch-create as many collectibles as they want in one transaction. 

Because of high gas fees, this can save creators thousands (or even tens of thousands) of dollars in transaction fees when creating collectibles at scale.

We’ve also just announced Cargo Gems, which will function as a utility token and payment option on the Cargo platform, as well as a governance token for the upcoming Cargo DAO. What’s exciting is that Gems can be staked inside of any compatible NFT for token rewards.

Cargo is the only platform that allows users to deploy smart contracts which enable them to create an infinite amount of NFTs in one transaction for the same cost as creating one NFT on other platforms. ERC-2309, an open standard on Ethereum that makes this possible, was spearheaded by myself because I realized early on that to scale NFTs we’d need a way to create and transfer large amounts at one time for a price that worked. Recently OpenSea, the largest marketplace for digital goods, started supporting the standard that makes this possible. 

From a feature perspective, we are the first open platform to support 3D NFTs and we also support audio, video files in addition to image NFTs. On Cargo, you can lock digital content within your NFTs that only the token holder can unlock and that content is AES-256 encrypted. 

When I was building Cargo I never thought that it would be only an NFT marketplace and it’s not. Cargo was built to be the engine that powers other NFT projects in a way that scales and is cost-efficient. We have a robust API that allows you to use Cargo’s infrastructure directly in your platform.

From the beginning, we could collaborate with others and automatically split payments – this has been supported via our API.  We are seeing that people want this in the UI of the site, so we are working on including it in a future version of Cargo. 

This is a cool feature and opens the door for a lot of cool projects. 

For example, you could do an art series for charity and you can set it up so each of the charities will automatically receive payment when one of the pieces is sold. Or, if you’re an artist, you can collaborate with other artists, or create your own marketplace that other artists can join.

Where we learn more?

Our next big release will be Cargo Gems which brings the exciting world of Defi to the NFT space. You can find more information here.  

Readers can visit Cargo here. They can also follow Cargo on Twitter

This article is Originally posted on CoinCentral.com
Author: Alex Moskov

Price analysis 9/11: BTC, ETH, XRP, LINK, BCH, DOT, BNB, LTC, CRO, BSV – BTC Ethereum Crypto Currency Blog

Although Bitcoin price is range-bound, a few altcoins have started a relief rally which could push them above key resistance levels.

The President of the European Central Bank (ECB) Christine Lagarde said that the coronavirus pandemic has acted as a catalyst in boosting the adoption of digital payments in the European Union. Lagarde expects the majority of the consumers to continue using digital services even in the future.

In order to support the digitalization, the ECB has formed a task force, which is “exploring the benefits, risks and operational challenges” of developing a digital euro and is expected to announce its findings within the next few weeks.

While a central bank digital currency might build up consumer interest in the short-term, it is unlikely to sustain because the stimulus measures announced across the globe since the start of the outbreak have reduced the confidence in fiat currencies.

Daily cryptocurrency market performance. Source: Coin360

This has driven investors towards other assets such as stocks, gold and cryptocurrencies. Bloomberg’s crypto newsletter shows that the correlation between gold and Bitcoin (BTC), when calculated on a monthly basis has hit a 10-year high. This indicates that several investors are viewing Bitcoin as a safe haven asset similar to gold.

However, every asset goes through periodic corrections. Let’s analyze the charts of the top-10 cryptocurrencies to ascertain whether the correction is over or not.

BTC/USD

The bulls are currently attempting to push Bitcoin to the top of the $9,835–$10,625 range. The price action inside a range is usually random and it is difficult to predict the direction of the breakout with certainty. 

BTC/USD daily chart. Source: TradingView

It is generally assumed that the breakout will happen in the direction of the trend that was prevailing before the range formed. In this case, the BTC/USD pair had dipped from the recent highs of $12,460, which shows that the bears had the upper hand.

The downsloping 20-day exponential moving average ($10,798) and the relative strength index in the negative zone also indicate that the advantage is with the sellers.

If the bears can sink the pair below $9,835, a drop to $9,000 and then to $8,000 is likely. Such a move will be a huge negative.

However, if the bears fail to capitalize on this advantage, the aggressive bulls are likely to start accumulating and they will try to push the price above $10,625. If they succeed, a move to $11,000 and then to $12,460 is likely. 

ETH/USD

Ether (ETH) rose above the $366 resistance on Sep. 10 but the bulls are facing resistance at the 20-day EMA ($379), which is close to the 38.2% Fibonacci retracement of the most recent fall. 

ETH/USD daily chart. Source: TradingView

However, if the bulls do not give up much ground, it will increase the possibility of a break above the 20-day EMA. If the ETH/USD pair sustains above this resistance, a move to the 61.8% Fibonacci retracement level of $419.473 is likely.

The bears will once again attempt to defend this level but if the bulls can overcome their challenge, a retest of $488.134 will be on the cards.

Contrary to this assumption, if the pair turns down from the current levels and dips back below $350, the bears will try to sink the price to $308.392. The selling is likely to intensify on a break below $288.

XRP/USD

The bulls attempted to start a relief rally on Sep. 10 but could not sustain above $0.245, which shows that demand dries up at higher levels. As a result, XRP has again dipped back to the $0.235688 support.

XRP/USD daily chart. Source: TradingView

If the bears sink the XRP/USD pair below $0.229582, the next leg of the down move is likely to begin. The next support on the downside is the $0.19–$0.20 zone. 

The downsloping 20-day EMA ($0.257) and the RSI in the negative territory suggest that bears are in command.

However, if the pair rebounds off the current levels and rises above $0.250, it can move up to the 20-day EMA and above it to $0.268478. A break above this level will suggest that the bulls are back in the game.

LINK/USD

Chainlink (LINK) had broken above the $12.89 overhead resistance but the bulls could not push the price above the 20-day EMA ($13.35), which suggests that the bears are aggressively selling on rallies.

LINK/USD daily chart. Source: TradingView

If the bears can keep up the selling pressure and sink the LINK/USD pair below the trendline, a drop to $8.9080 is possible. A break below this support will be a huge negative.

Conversely, if the pair rises from the current levels or from the trendline, the bulls will once again attempt to scale the price above the 20-day EMA. If they succeed, a relief rally to the downtrend line is likely.

A breakout of this resistance will increase the likelihood of a rally to $17.77 and then to the highs at $20.1111.

BCH/USD

Bitcoin Cash (BCH) has roughly been trading in the tight range of $215–$231 for the past few days, which suggests indecision among the bulls and the bears about the next directional move.

BCH/USD daily chart. Source: TradingView

The downsloping 20-day EMA ($248) and the RSI below the 40 level suggest that bears have the upper hand.

If they can sink the price below $215, a retest of the critical support at $200 is possible. A breakdown of this support will be a huge negative that can result in a fall to $140.

Conversely, if the bulls can push the price above $231, the likelihood of a rally to $245 increases. Above this level, a move to $260 and then to $280 is possible.

DOT/USD

The bulls could not push Polkadot (DOT) above the $4.9210 resistance on Sep. 10, which suggests that the bears are defending this level.

DOT/USD daily chart. Source: TradingView

The bears will now try to sink the DOT/USD pair below the $4–$3.50 support. If they succeed, a drop to $3 and then to $2 is possible.

However, if the price turns up from the current levels or the $4 support, the bulls will again try to push the price above $4.9210. If they succeed, a rally to the 61.8% Fibonacci retracement level of $5.5899 is possible.

Between $4 and $4.9210, the price action is likely to be random. The longer the time spent inside the range, the stronger will be the eventual breakout from it.

BNB/USD

Binance Coin (BNB) turned down from the $25.8262 resistance on Sep.10, which shows that the bears are defending this level. The RSI has formed a bearish divergence, which suggests that the bullish momentum has weakened.

BNB/USD daily chart. Source: TradingView

If the bears can sink the BNB/USD pair below the moving averages, it will be the first sign of weakness, which could result in a drop to $18.

However, both moving averages are sloping up, which suggests that the advantage is still with the bulls. 

The pair has currently bounced off the 20-day EMA ($22.95), which suggests buying on dips by the bulls. They will now again try to propel the price above $25.8262 and if they succeed, a rally to $27.1905 is likely.

LTC/USD

The bulls are struggling to push Litecoin (LTC) to the overhead resistance at $51, which suggests a lack of demand even at the current levels.

LTC/USD daily chart. Source: TradingView

If the bulls do not push the price above the $51 resistance within the next few days, the bears will make an attempt to sink the LTC/USD pair below $45. If they succeed, a retest of the critical support at $39 is possible.

Conversely, if the bulls can push the price above the $51 resistance and the downsloping 20-day EMA ($52.8), it will signal strength. The next target on the upside is likely to be $56 and then $64.

CRO/USD

Crypto.com Coin (CRO) has broken above the $0.154322 resistance and has reached the 20-day EMA ($0.260), which is a positive sign as it shows a lack of selling pressure at lower levels.

CRO/USD daily chart. Source: TradingView

If the bulls can push the CRO/USD pair above this resistance, a retest of the $0.183416–$0.191101 resistance zone is likely. A breakout of this zone could start the next leg of the uptrend.

Contrary to this assumption, if the bears aggressively defend the 20-day EMA, the pair could again dip back to the $0.144743 support. A break below this support could pull down the price to the 38.2% Fibonacci retracement level of $0.127459.

BSV/USD

The relief rally in Bitcoin SV (BSV) hit a wall close to the 20-day EMA ($179), which could have attracted profit booking by the traders who had purchased the recent dip to $150 levels.

BSV/USD daily chart. Source: TradingView

If the bears can now sink the price below the immediate support at $160, a drop to the critical support zone of $146.20–$135 is likely. A break below this zone will be a huge negative that can result in a fall to $100.

Contrary to this assumption, if the BSV/USD pair rebounds off the current levels, the bulls will once again try to push the price above the 20-day EMA. If they succeed, a move to the downtrend line is possible. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Price analysis 9/9: BTC, ETH, XRP, LINK, BCH, DOT, BNB, BSV, LTC, CRO – BTC Ethereum Crypto Currency Blog

If the bulls can find momentum from the current bounce in Bitcoin and altcoins a short-term bottom may be in place.

The short-term gyrations in crypto and stock prices are usually based on sentiment and technicals, while the long-term trends generally follow stronger underlying fundamentals. Therefore, if the fundamentals do not weaken, smart investors view short sharp corrections as a buying opportunity.

Data suggests that large investors, oftentimes dubbed ‘whales’, have been accumulating Bitcoin (BTC) since March. Along with them, several new small traders have also been buying Bitcoin and this suggests that retail and high net worth traders believe that Bitcoin will work as a store of value during the next crisis.

Daily cryptocurrency market performance. Source: Coin360

Morgan Stanley’s head of emerging markets and chief global strategist Ruchir Sharma believes that inflation is likely to rear its head as early as next year, hence, alternative assets are in demand. Sharma said that about 5% of a portfolio could be in gold and the “more adventurous” investors could make allocations to “Bitcoin and other cryptocurrencies.”

While the long-term expectation for Bitcoin price is bullish, do the charts project that a bottom is in place or  is another further fall likely in the next few days? 

Let’s review the charts to find out.

BTC/USD

Bitcoin has been stuck in the $9,835–$10,625 range for the past few days, which suggests that both the bulls and the bears are playing it safe and are waiting for the next trending move to start before making large bets.

BTC/USD daily chart. Source: TradingView

The long tail on the candlesticks of the past five days shows that the bulls have been buying at lower levels but they have not been able to push the price above the top of the range at $10,625, which suggests that demand dries up at higher levels. 

The downsloping 20-day exponential moving average ($10,902) and the relative strength index in the negative zone suggest that bears have the upper hand.

If the bears can sink and close (UTC time) the price below $9,835, the BTC/USD pair can drop to the next support at $9,000 and then to $8,000. 

This bearish view will be invalidated if the bulls can push the price above the $10,625–$11,000 zone. Such a move will indicate that the correction is possibly over. 

ETH/USD

Ether (ETH) has formed inside day candlestick patterns for the past three days, which suggests indecision among the bulls and the bears about the next directional move. 

ETH/USD daily chart. Source: TradingView

This contraction in volatility is likely to resolve with a strong move within the next few days. The downsloping 20-day EMA ($381) and the RSI in the negative zone suggests that bears have the upper hand.

The ETH/USD pair might weaken if the bears sink the price below the $308.392–$288 support zone. If the price sustains below $288, the selling is likely to intensify, which could pull down the pair to $220.

However, if the volatility expands to the upside and the pair breaks above the $366 resistance, a rally to the 50% Fibonacci retracement level of $398.263 is possible.

XRP/USD

XRP has held the $0.235688 support for the past few days but the bulls have not been able to achieve a strong rebound off it, which suggests that demand dries up at higher levels.

XRP/USD daily chart. Source: TradingView

If the XRP/USD pair does not rise above $0.245 within the next few days, the bears will again attempt to resume the correction. The 20-day EMA ($0.26) is sloping down and the RSI has been trading below the 40 level, which suggests that bears have the upper hand.

If the bears sink the price below $0.229, a drop to the $0.19–$0.20 zone is possible. This bearish view will be invalidated if the bulls can push and sustain the price above the overhead resistance at $0.268478.

LINK/USD

Although the bears are aggressively defending the overhead resistance at $12.89, the positive thing is that the bulls have not allowed Chainlink (LINK) to dip below the trendline, which suggests buying at lower levels.

LINK/USD daily chart. Source: TradingView

If the bulls can push the price above the $12.89–$13.24 resistance zone, a rally to the downtrend line is likely. A breakout of this resistance will be the first indication that the downtrend could be over.

However, the downsloping 20-day EMA ($13.53) and the RSI in the negative zone suggest that bears have the upper hand.

If the LINK/USD pair turns down from the current levels or from the resistance zone, the bears will try to sink it below the trendline. If they succeed, a drop to $8.908 is possible. A breakdown of this support will be a huge negative.

BCH/USD

Bitcoin Cash (BCH) has formed a pennant after the recent fall, which usually acts as a continuation pattern. The 20-day EMA ($253) is sloping down and the RSI is below the 40 level, which suggests that bears have the upper hand.

BCH/USD daily chart. Source: TradingView

If the bears can sink the price below the pennant and the $200 support, selling is likely to intensify and a drop to $140 could be on the cards.

Conversely, if the bulls can push the price above the pennant, a move to $245 is likely. The bears are again likely to defend this level but if the bulls can scale the price above it,  the BCH/USD pair could move up to $280.

DOT/USD

Polkadot (DOT) is facing resistance at $4.9210 but the positive thing is that the bulls are not allowing the price to dip below the $4 support.

DOT/USD daily chart. Source: TradingView

If the bulls can push the price above $4.9210, it will be the first sign that the correction might be over. Above this level, a move to the 61.8% Fibonacci retracement level of $5.5899 and then to the 78.6% retracement level of $6.1493 is likely.

Conversely, if the DOT/USD pair again turns down from $4.9210, a few days of range-bound action is possible. The pair will turn negative if the bears sink the price below the $4–$3.5 support zone.

BNB/USD

Binance Coin (BNB) has been among the strongest major cryptocurrencies as it has quickly recovered most of the lost ground. The bulls are currently attempting to sustain the price above the $24 resistance.

BNB/USD daily chart. Source: TradingView

The bears might attempt to stall the up-move at $25.8262 but this resistance is likely to be crossed as the momentum is strong. If the bulls can scale the price above $27.1905, a rally to $32 is likely.

The 20-day EMA ($22.58) has started to turn up once again and the RSI is just above the midpoint, which suggests that the bulls have a slight advantage.

However, if the price turns down from the current levels, the BNB/USD pair could remain range-bound for a few days.

BSV/USD

The relief rally in Bitcoin SV (BSV) is likely to face resistance at the 20-day EMA ($182), which is sloping down. The RSI is also in the negative territory, which suggests that the bears have the upper hand.

BSV/USD daily chart. Source: TradingView

However, if the bulls can push the price above the 20-day EMA, a move to the downtrend line is likely. A break above this resistance will signal strength and can result in a move to $227.

On the other hand, if the BSV/USD pair turns down from the 20-day EMA or the downtrend line, the bears will once again attempt to sink the price below the $146.20–$135 support zone. If they succeed, the decline can extend to $100 and then to $77.

LTC/USD

Litecoin (LTC) has bounced off the $45.1626 support, which suggests strong buying at lower levels. The bulls will now try to push the price to the overhead resistance zone of $51–$52.3594.

LTC/USD daily chart. Source: TradingView

The 20-day EMA ($53.79) is sloping down and the RSI is in the negative territory, which suggests that bears have the upper hand. They are likely to defend the overhead resistance zone aggressively.

If the LTC/USD pair turns down from either resistance, the bears will try to sink the price below the $45.1626 support. If they succeed, a drop to $39 is likely. However, if the bulls can push the price above $52.3594, it will suggest that the correction might be over.

CRO/USD

Crypto.com Coin (CRO) is attempting to rebound off the $0.144743 support, which is just below the 23.6% Fibonacci retracement level of $0.151783. The relief rally is likely to face resistance at the 20-day EMA ($0.160), which is sloping down.

CRO/USD daily chart. Source: TradingView

If the price turns down from the 20-day EMA, the bears will attempt to deepen the correction by sinking the CRO/USD pair below $0.144743. If they succeed, the next support is at the 38.2% Fibonacci retracement level of $0.127459.

Conversely, if the bulls can push the price above the 20-day EMA, a move to $0.183416 and then to $0.191101 is likely. A breakout above this level will indicate the resumption of the uptrend.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Price analysis 9/7: BTC, ETH, XRP, LINK, BCH, DOT, BSV, BNB, LTC, CRO – BTC Ethereum Crypto Currency Blog

Bitcoin and altcoins could consolidate in a tight range for a few days before making the next decisive move.

Corrections are healthy for the strength of an uptrend because they shake out the excess exuberance and provide an opportunity to the traders who missed the bus earlier to make an entry at lower levels.

About 68 crypto investors did the same thing when they used the recent dip to purchase anywhere between 1,000–10,000 Ether (ETH). 

Buying against the prevailing short-term negative sentiment during a correction is not an easy task but it is generally the right thing to do if the medium-term trend is bullish. 

Daily cryptocurrency market performance. Source: Coin360

Tops and bottoms are confirmed only in hindsight, hence, selling at the top or buying at the bottom is a difficult task. Instead, traders can consider buying after the price rebounds off a support level repeatedly.

Even these purchases are not foolproof because many times, the price jumps up a little, only to turn around sharply and break below the support. Therefore, traders should always keep a stop-loss to protect their capital. 

Let’s study the charts to spot the cryptocurrencies that are showing signs of having bottomed out.

BTC/USD

The bulls are attempting to defend the $9,835 level in Bitcoin (BTC) as seen by the long tails on the candlesticks of the past three days. However, they have not been able to push the price above $10,625, which suggests that buying dries up at higher levels.

BTC/USD daily chart. Source: TradingView

The short-term trend has turned negative as the moving averages have completed a bearish crossover and the relative strength index is in the negative territory. This suggests that the bears are back in the game.

If they can sink the BTC/USD pair below $9,835.20, there is a minor support at $9,540, which is close to the large symmetrical triangle and is also the target objective of the head and shoulders breakdown. 

If this support also cracks, a drop to $9,000 and then to $8,000 is possible. Such a move will shatter sentiment and could drive away buyers. 

This bearish view will be invalidated if the bulls can push the price above $11,000 and sustain it.

ETH/USD

The rebound off the $308.392 level could not even reach the previous support turned resistance of $366 on Sep. 6, which is a huge negative. A weak rebound after a sharp fall suggests that Ether (ETH) is likely to face another wave of selling.

ETH/USD daily chart. Source: TradingView

If the bears sustain the price below $308.392, a drop to $288 is possible. This is an important support to watch out for because if this gives way, the decline could extend to $220.

The 20-day exponential moving average ($390) is sloping down and the RSI has dipped into the negative zone, which suggests that the bears have the upper hand.

This bearish view will be invalidated if the ETH/USD pair breaks out of the $366–$400 resistance zone.

XRP/USD

The rebound off the $0.235688 support on Sep. 4 could not rise above the $0.268478 resistance, which suggests that the bears aggressively defended the breakdown level. Currently, the bears are attempting to resume the correction in XRP.

XRP/USD daily chart. Source: TradingView

If the XRP/USD pair sustains below $0.229582, the next support is $0.21, and if that also cracks, the decline could extend to $0.19. 

The moving averages have completed a bearish crossover and the RSI is in the negative zone, which suggests that the bears have the upper hand.

This bearish view will be invalidated if the pair reverses direction and rises above the $0.268478 resistance. Such a move will suggest that the correction has ended. 

LINK/USD

Chainlink (LINK) has been swinging wildly inside the $8.908–$12.89 range for the past three days, which suggests a tussle between the bulls and the bears as they attempt to establish their supremacy.

LINK/USD daily chart. Source: TradingView

The 20-day EMA ($13.83) has started to turn down and the RSI is in the negative zone, which suggests that the bears have the upper hand.

If the LINK/USD pair breaks below the trendline, a drop to $8.908 is possible. This is the important support to watch out for because if this breaks down, a drop to $7 is likely.

On the upside, a break above $12.89 will be the first sign of strength. Above this level, a move to the downtrend line is possible. A breakout of this level will suggest that the correction is over. 

BCH/USD

The rebound off the $200 level fizzled out at $240.38 on Sep. 4 and the price again dipped back close to $217.55. If bears sustain Bitcoin Cash (BCH) below this support, a drop to $200 is possible.

BCH/USD daily chart. Source: TradingView

The 20-day EMA ($259) is sloping down and the RSI is close to the oversold levels, which suggests that the bears are in command.

A break below $200 will be a huge negative as this level has not been broken down convincingly since March 19. The next support on the downside is way lower at $140.

On the other hand, if the bulls defend the $217.55–$200 support zone, the BCH/USD pair could remain range-bound for a few days. 

DOT/USD

Polkadot (DOT) formed inside day candlestick patterns on Sep. 6 and today as the bulls attempt to stall the decline at the 61.8% Fibonacci retracement level of $3.8572.

DOT/USD daily chart. Source: TradingView

However, the rebound on Sep. 6 was short-lived as the bears are currently attempting to resume the decline. 

If they can sink and sustain the DOT/USD pair below $3.8572, a drop to $3.0404 is possible. If this support also cracks, the pair will complete a 100% retracement and drop to $2.

Conversely, if the bulls can push the price above $$4.921, a move to $5.3147 and then to $6 is likely.

BSV/USD

Bitcoin SV (BSV) has rebounded off the $146.2 support, which suggests that the bulls are defending this level. However, the bulls are likely to face stiff resistance at the downsloping 20-day EMA ($185).

BSV/USD daily chart. Source: TradingView

If the BSV/USD pair turns down from the 20-day EMA, the bears will once again attempt to break below the critical support zone of $146.20–$135. If they succeed, a drop to $100 and then to $77 is likely.

However, if the bulls can push the price above the 20-day EMA, a move to the 50-day simple moving average ($202) is possible. A break above this level can retest the $227 resistance.

BNB/USD

Binance Coin (BNB) has been swinging wildly for the past few days, which suggests aggressive buying by the bulls on dips and selling by the bears on rallies as both attempt to wrestle the advantage in their favor.

BNB/USD daily chart. Source: TradingView

Both moving averages are flat and the RSI is just below the midpoint, which suggests a range-bound action between $18–$24 for a few days. If the bears sink the price below $18, the BNB/USD pair can drop to $14.80. 

On the other hand, if the bulls can push the price above $24, the pair could move up to $27.1905. A breakout of this resistance will be a huge positive, with the next target objective at $32.

LTC/USD

The bears did not allow Litecoin (LTC) to sustain above the breakdown level of $51 on Sep. 4, which attracted another round of selling that had pulled down the price to about $46 levels.

LTC/USD daily chart. Source: TradingView

The only minor positive is that the LTC/USD pair has formed long tails for the past three days, which suggests that the bulls are buying the dips. 

However, if the bulls fail to push the price above $51 within the next few days, the bears will again attempt to sink the pair to $42 and then to $39.

This bearish view will be invalidated if the bulls can push and sustain the pair above the breakdown level of $51.

CRO/USD

The bulls could not sustain Crypto.com Coin (CRO) above the breakdown level of $0.154322 on Sep. 5, which suggests profit booking by traders. There is a minor support at $0.14 below which a drop to the 38.2% Fibonacci retracement level of $0.127459 is possible.

CRO/USD daily chart. Source: TradingView

Barring the sharp decline on Sep. 3, the fall in the CRO/USD pair has been gradual, which suggests that traders are not dumping their positions yet. This increases the possibility of another attempt by the bulls to stall the decline. 

However, the moving averages have completed a bearish crossover and the RSI is close to the oversold zone, which suggests that the bears have the upper hand in the short-term.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Sushiswap Founder Reportedly Exit Scams as Sushi Token Price Tanks – BTC Ethereum Crypto Currency Blog

The anonymous founder of Sushiswap has reportedly exit scammed after converting all of his sushi tokens to ETH on September 5. Reports of the alleged scam came a few after the sushi token, which forked from the Uniswap protocol, went up in value to $10 in just 24 hours.

A Twitter user Spensernoon first made the allegations.

However, in a series of seemingly convoluted tweets, Chef Nomi, the self-professed creator of Sushiswap, has denied the allegations. The creator tweeted:

People asked if I exit scammed. I did not. I am still here. I will continue to participate in the discussion. I will help with the technical part. I will help ensure we have a successful migration.

The Sushiswap creator then compares his actions to what Satoshilite (Charlie Lee creator of Litecoin) did and how “Litecoin had no problem surviving.”

Still, Chef Nomi appears to justify his actions insisting he deserved the ETH:

“Maybe you don’t think I deserved that ETH? I think my contributions justified that. I wrote the migration code. I did all the audits. I coordinated the largest LP pools ever. I created a large community. I sprung up 100s of LP scam projects. All in one week.”

The Sushiswap creator also makes an effort to remind his detractors all the work he has done alone. The creator intimates that the token’s price volatility has created unwanted pressure.

“And that is what I do. I created (an) idea. I created (the) community. I did it best when I don’t (sic) have price under pressure. And if you believe in the community. You believe in the idea. You stay. If not, you are free to leave. It is an open experiment. No strings attached,” said the defiant creator.

Throughout the rest of the tweets, the founder casts his actions as benign while complaining that “all I received was blaming and FUDing.

The sushi token was listed on Binance September 1 and according to reports, the Defi liquidity provision platform had managed to have funds worth $1.2 billion under lock. Still, the token price began to plummet, dropping 60% (in 24 hours) to $1.50 at the time of writing.

Meanwhile, the ethereum (ETH) token appeared to take a cue from plummeting defi tokens after dropped 17% to $320 during the same period. The trend also appeared to be the same with many other defi coins like YFI, LEND, and LINK.

The Chainlink token LINK similarly dropped by a double-digit figure of 19.7% to $10.19 while the Polkadot token went down by 28% to $3.83.

However, the rest of the market appears to have incurred losses averaging 6% or less. Bitcoin dropped below $10,000 during the same period.

What do you think of the alleged Sushi exit scam? Share your thoughts in the comments section below.

The post Sushiswap Founder Reportedly Exit Scams as Sushi Token Price Tanks appeared first on Bitcoin News.

https://news.bitcoin.com/sushiswap-founder-reportedly-exit-scams-as-sushi-token-price-tanks/

Original Article
Author: btcethereumadmin

Price analysis 9/4: BTC, ETH, XRP, LINK, BCH, DOT, LTC, CRO, BNB, BSV – BTC Ethereum Crypto Currency Blog

A dead cat bounce from Bitcoin and altcoins’ critical support levels may attract further selling that could result in lower levels over the next few days.

The Nasdaq, S&P500 and Dow all corrected sharply on Sep. 3 and opened today with additional downside, suggesting that traders are rushing to the exit. Bitcoin (BTC) and several other major altcoins have also witnessed a strong bout of profit booking that has pulled down the total crypto market capitalization from $394 billion on Sep. 2 to about $339 billion today.

Even gold, which is a traditional safe haven asset, has not been spared and lost ground in the past two days. This shows that traders are booking profits in every asset class that has run-up in the past few weeks.

Daily cryptocurrency market performance. Source: Coin360

Retail traders may view the current fall as a buying opportunity because over the last few months the fundamentals of Bitcoin and cryptocurrencies have improved remarkably. Even market data suggests that several large investors could be waiting to accumulate at lower levels.

However, in a falling market, the prudent strategy should be to wait for the price to stabilize and confirm a bottom before attempting to buy.  Before buying, it’s crucial to determine where the critical support levels are that might attract bottom fishing from the aggressive bulls. 

Let’s find out!

BTC/USD

Bitcoin plunged below the $11,000 and $10,400 support on Sep. 3 and hit an intraday low of $9,958. This fall completed a bearish head and shoulders pattern, which has a minimum target objective of $9,540. 

BTC/USD daily chart. Source: TradingView

Currently, the bulls are attempting to defend the $10,000 support but the weak bounce suggests that buyers do not think a bottom has been found yet. 

The 20-day exponential moving average ($11,331) has turned down and the relative strength index has dipped into the negative territory, which suggests that the bears have an upper hand.

If the bears sustain the price below $10,000, the next support is at the breakout level of the large symmetrical triangle, which is close to $9,500 but if this support also cracks, the decline could extend to $9,000 and then to $8,000.

This bearish view will be invalidated if the BTC/USD pair rebounds off the current levels and rises above $11,000.

ETH/USD

Although the bulls defended the $415.634 support on Sep. 2, they could not build upon it and push the price higher. The aggressive selling on Sep. 3 broke below the 20-day EMA ($405) and pulled Ether (ETH) down to the next support at $366.

ETH/USD daily chart. Source: TradingView

The bulls are currently attempting to defend the 50-day simple moving average ($368), which is just above the critical support at $366.

Any relief rally from the current level will face stiff resistance at the 20-day EMA. If the ETH/USD pair turns down from this resistance and breaks below $366, a deeper correction to $288 is possible.

However, if the bulls can push the price above the 20-day EMA, the pair could remain range-bound for a few days. 

XRP/USD

XRP broke below the 50-day SMA ($0.265) on Sep. 3 and plummeted to the $0.235688 support. The price has dipped below both moving averages and the 20-day EMA ($0.275) is sloping down, which suggests that the bears are in command.

XRP/USD daily chart. Source: TradingView

Currently, the bulls are attempting to defend the $0.235688 support but any relief rally is likely to face stiff resistance at the 20-day EMA. If the XRP/USD pair turns down from this level and breaks below $0.235688, a deeper correction to $0.19 is possible.

This bearish view will be invalidated if the pair rebounds off the current levels and rises above both moving averages. Such a move will suggest that the bulls accumulated at lower levels instead of panicking.

LINK/USD

Chainlink (LINK) plummeted below the $12.89 support on Sep. 3 and formed a lower low, which broke the uptrend. Currently, the altcoin is trading inside a descending channel and the bulls are attempting to defend the $11 level.

LINK/USD daily chart. Source: TradingView

The 20-day EMA ($14.49) has started to turn down and the RSI has dipped into the negative territory, which suggests that the advantage has tilted in favor of the bears. The relief rally is likely to face resistance at $12.89 and again at the 20-day EMA.

If the LINK/USD pair turns down from either resistance, the bears will try to resume the correction by breaking below the descending channel. If they succeed, a drop to $8.908 is possible.

The first sign of strength would be a break above the 20-day EMA and a rally above the descending channel will suggest that the bulls are back in the game. 

BCH/USD

Bitcoin Cash (BCH) nosedived on Sep. 3 and hit an intraday low of $201.51, which is a huge negative. The 20-day EMA ($270) is turning down and the RSI has slipped into the negative zone, which suggests that the bears are in command.

BCH/USD daily chart. Source: TradingView

Currently, the bulls are attempting to defend the critical $200 support but they are likely to face stiff resistance at $245 and again at the 20-day EMA.

If the price turns down from either level, the bears will again try to sink the BCH/USD pair below $200. If they succeed, a deeper correction to $150 is possible.

However, if the bulls defend the $200 support, the pair could remain range-bound for a few days.

DOT/USD

Polkadot (DOT) has catapulted into the top ten cryptocurrencies by market capitalization, due to its stellar rally of the past few days. The altcoin rallied from $2 on Aug. 18 to a high of $6.8619 on Sep. 1 where traders started booking profits.

DOT/USD daily chart. Source: TradingView

The current correction had pulled down the DOT/USD pair to $4.50, which is just above the 50% Fibonacci retracement level of $4.431. If the pair sustains the current rebound, then a rally to $5.7 and above it to $6.8619 is possible. 

Conversely, if the relief rally fails to find buyers at higher levels, then the next support on the downside is the 61.8% Fibonacci retracement level of $3.8572. 

LTC/USD

Litecoin (LTC) broke below the 50-day SMA ($55) and the $51 support on Sep. 3 and fell to an intraday low of $45.40, which is a huge negative.

LTC/USD daily chart. Source: TradingView

The moving averages are on the verge of a bearish crossover and the RSI has dipped into the negative zone, which suggests that the bears have the upper hand. 

Any recovery is likely to face stiff resistance at $51 and above it at the 20-day EMA. If the price turns down from either level, a drop to $39 is likely.

This bearish view will be invalidated if the bulls can push the LTC/USD pair above $51 and sustain the level for three days.

CRO/USD

Traders rushed to book profits in Crypto.com Coin (CRO) on Sep. 3, which resulted in a break below both the moving averages for the first time since April, which suggests that the upward momentum has broken.

CRO/USD daily chart. Source: TradingView

The next support on the downside is $0.14 and if that cracks, the correction can extend to $0.127459, which is the 38.2% Fibonacci retracement level of the entire up-move that started way back in mid-March.

If the CRO/USD pair rises from either level, it will suggest that the sentiment remains positive as the bulls are buying on dips to strong support levels.

However, if the bears sink the price below $0.127459, the next support is the 50% Fibonacci retracement level of $0.107801. 

BNB/USD

Binance Coin (BNB) had closed (UTC time) above the overhead resistance of $24.4588 on Sep. 2, which showed that the sentiment was bullish.

BNB/USD daily chart. Source: TradingView

However, it did not take long for the sentiment to change and the BNB/USD pair turned around and plunged below the critical support of $20.5710 on Sep. 3. 

This is a good example of how sentiment can turn around in a jiffy, hence, traders should always be very alert.

When the price dips below both moving averages, it signals weakness. The bears will now try to sink the pair to $18.23 and if that support also cracks, the decline could extend to $16.40.

This bearish view will be invalidated if the bulls can push the price above $20.571 levels and sustain it for three days. Such a move will indicate that the current fall was a bear trap.

BSV/USD

The failure of the bulls to sustain Bitcoin SV (BSV) above $200 on Sep. 2 attracted selling, which intensified on Sep. 3 and pulled the altcoin to the critical support at $146.20.

BSV/USD daily chart. Source: TradingView

The weak attempt to rebound from the current levels suggests a lack of confidence among the bulls that this support will hold. If the bears sink the BSV/USD pair below the $146.20–$135 support zone, a drop to $77 is possible.

Conversely, if the bulls defend the $146.2 levels aggressively, the pair could attempt to rise to $200 and remain range-bound between these two levels for a few days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Price analysis 9/2: BTC, ETH, XRP, LINK, BCH, LTC, BNB, CRO, BSV, ADA – BTC Ethereum Crypto Currency Blog

If the bearish patterns on Bitcoin and altcoins complete the current correction could see prices drop to new lows.

The U.S. stock market continues to hit new all-time highs while gold, which acts as a safe haven asset has retreated from it’s all-time highs. This suggests that there sentiment is to own risky assets. Meanwhile, Bitcoin (BTC), which at times behaves as an uncorrelated asset, remains stuck in a range.

However, with the U.S. presidential elections approaching, the volatility in all the markets is likely to pick up. 

If President Donald Trump is re-elected, then there is unlikely to be a huge change in the current economic policies. If Joe Biden wins the election, then economists, traders and corporations are likely to remain cautious for a few weeks and this could lead to a correction as markets hate uncertainty. Therefore, traders should get ready for a roller-coaster ride for the next few months.

Daily cryptocurrency market performance. Source: Coin360

According to PlanB, the creator of the popular stock-to-flow model, Bitcoin’s price action after its halving in May has been closely following the model. If Bitcoin continues to follow the model, then the price is likely to skyrocket within a few months and embark on a long-term bull market, with a target objective of $288,000.

While the long-term picture might look bullish, what do the charts project for the short-term? 

Let’s study them to find out!

BTC/USD

Bitcoin has once again turned down from the $12,113.50 overhead resistance, which suggests that the bears are aggressively defending this level. 

BTC/USD daily chart. Source: TradingView

Currently, the 20-day exponential moving average ($11,558) has flattened out and the relative strength index is just below the midpoint, which suggests a balance between the bulls and the bears.

However, if the bears sink and sustain the price below the $11,000 support, it will complete a bearish head and shoulders pattern, which has a pattern target of $9,540.

It is unlikely to be a straight fall to the target because the bulls will attempt to defend the $10,400–$10,000 zone aggressively.

Conversely, if the price rebounds off the $11,000 levels, the BTC/USD pair is likely to remain range-bound for a few days. The trend will shift in favor of the bulls if they can scale the price above the $12,113.50–$12,460 resistance zone. 

The next few days are critical because the breakout or breakdown from the $11,000–$12,113.50 range could start the next directional move.

ETH/USD

Ether (ETH) surged above the overhead resistance of $446.479 on Sep. 1 and hit its first target objective of $480. This attracted a huge bout of profit booking from traders that resulted in a sharp intraday fall to $416.248 today.

ETH/USD daily chart. Source: TradingView

The bulls are currently attempting to defend the 20-day EMA ($408), which is a positive sign as it shows that the positive sentiment remains intact.

Both moving averages are sloping up and the RSI is still in the positive zone, which suggests that the bulls have the upper hand. However, they will have to push the price above the $480 resistance for the uptrend to resume.

If the bears sink the ETH/USD pair below $415.634, a drop to $366 is possible. A break below this support will tilt the advantage in favor of the bears.

XRP/USD

XRP rallied just above the $0.295813 level on Sep. 1 and the bulls tried to resume the up-move today but they encountered huge selling pressure at $0.303746 and this pulled the the price to $0.262484.

XRP/USD daily chart. Source: TradingView

The positive sign is that the bulls purchased the dip to the 50-day simple moving average ($0.263) again today, which makes this a critical level to watch out for. If the bears sink the price below this support, the possibility of a deeper fall to $0.235688 increases.

Conversely, if the bulls defend the 50-day SMA, the XRP/USD pair could remain range-bound between $0.26–$0.30 for a few days. On a close (UTC time) above $0.30, a move to $0.326113 is possible.

The flat 20-day EMA ($0.280) and the RSI just below the 50 level suggests a balance between supply and demand, with a minor advantage to the bears.

LINK/USD

Chainlink (LINK) attempted to bounce off the 20-day EMA ($14.99) on Sep. 01 but a sharp reversal today resulted in a decline to $14. 

LINK/USD daily chart. Source: TradingView

The 20-day EMA has flattened out and the RSI has dipped close to the midpoint, which suggests that the LINK/USD pair could remain range-bound between $12.89 and $17.7777 for the next few days.

If the bears sink the price below $12.89, it will be a huge negative as that will form a lower high and a lower low pattern, which will suggest that the uptrend has ended.

Conversely, if the bulls manage to push the pair above $17.7777, a retest of the highs at $20.1111 is possible. 

BCH/USD

Bitcoin Cash (BCH) broke above the 20-day EMA ($280) on Sep. 1 but that victory for the bulls was short-lived as the altcoin reversed sharply today, which suggests that bears are selling aggressively at higher levels.

BCH/USD daily chart. Source: TradingView

The BCH/USD pair has bounced off $245.63 today, which is just above the intraday low of $245 made on Aug. 2. This is an important support to watch out for because if it cracks, a drop to $217.55 is possible.

The moving averages are on the verge of a bearish crossover and the RSI has again dropped into the negative territory, which suggests that bears have the upper hand.  This bearish view will be invalidated if the pair rises and sustains above the $280 resistance.  

LTC/USD

Litecoin (LTC) stayed above the 20-day EMA ($59.31) for the past two days but the bulls could not push the price above the $64 resistance, which suggests that the bears are aggressively defending this level.

LTC/USD daily chart. Source: TradingView

The LTC/USD pair has formed a possible head and shoulders pattern, which will complete on a breakdown and close (UTC time) below the neckline. This setup has a target objective of $39.

However, if the pair rebounds off the 50-day SMA ($55.36) or the neckline, the bulls will again attempt to push the price above $64. If they succeed, a rally to $68.90 is possible.

BNB/USD

Binance Coin (BNB) broke out of the $24.4588 overhead resistance on Sep. 1, which suggested a resumption of the up-move.

BNB/USD daily chart. Source: TradingView

However, the BNB/USD pair reversed direction sharply from $25.8262 today. The only positive thing is that the bears could not sink the price below the 20-day EMA ($22.85), which suggests strong buying on dips.

The 20-day EMA is sloping up and the RSI is in the positive territory, which suggests that the advantage is with the bulls.

If the pair rises above $24.4588 once again, it is likely to rally to $27.1905 and if this level is scaled, a move to $32 is possible. The bullish view will be invalidated if the pair breaks below $20.5710.

CRO/USD

Crypto.com Coin (CRO) has broken below the breakout level of $0.176596, which suggests profit booking at higher levels. If the bears sink the price below the 20-day EMA ($0.171), a drop to the 50-day SMA ($0.162) is likely.

CRO/USD daily chart. Source: TradingView

However, the 20-day EMA is gradually sloping up and the RSI is just above the midpoint, which suggests a minor advantage to the bulls.

If the CRO/USD pair rebounds off the 20-day EMA, the bulls will once again try to push the price above the $0.176596–$0.183416 resistance zone. If they succeed, a retest of $0.191101 is likely.

BSV/USD

Bitcoin SV (BSV) broke above the $200 overhead resistance on Sep. 1 but that proved to be a bull trap as the price turned down sharply today and fell to an intraday low of $173.53.

BSV/USD daily chart. Source: TradingView

The next support on the downside is $160 and if that also cracks, a retest of $146.20 will be on the cards. The downsloping 20-day EMA ($198) and the RSI in the negative zone suggest advantage to the bears.

This bearish view will be invalidated if the BSV/USD pair turns around from the current levels and breaks out of the downtrend line. Such a move will suggest that bulls are back in the game.

ADA/USD

The rebound off the $0.10 critical support in Cardano (ADA) hit a barrier just below the previous support turned resistance of $0.13, which suggests that the bears are selling on rallies to critical resistance levels. 

ADA/USD daily chart. Source: TradingView

The 20-day EMA ($0.122) is sloping down and the RSI is in the negative territory, which suggests that bears have the upper hand.

If the bears sink the ADA/USD pair below the $0.10 support, it will be a huge negative as it will suggest the possible start of a new downtrend. The next support on the downside is way lower at $0.08.

However, if the bulls defend the $0.10 support, the pair could remain range-bound for a few days. The trend will shift in favor of the bulls on a close (UTC time) above $0.13.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Revolut Adds Bitcoin Cash and Litecoin Support for US Customers – BTC Ethereum Crypto Currency Blog

Following the launch of Revolut’s new crypto exchange in the U.S. the company has added bitcoin cash and litecoin support. Alongside bitcoin and ethereum support, the trading platform’s added coins provide Revolut users with the ability to buy, store, and sell four different digital assets.

Six weeks ago, Revolut launched a new exchange in the United States and initially, the platform supported bitcoin (BTC) and ethereum (ETH).

Today Revolut has added bitcoin cash (BCH) and litecoin (LTC) support to the exchange’s roster of listed crypto assets. Revolut says the trading platform frictionlessly allows users to swap digital assets at the tap of a button.

Revolut has 13 million customers worldwide and roughly a million users are trading on a regular basis. “Monthly crypto volumes are in the hundreds of millions of dollars,” the firm detailed during the BCH and LTC support announcement.

Moreover, the company says that around 5,000 daily signups are attributed to its crypto service.

“At Revolut we pride ourselves in being a customer-obsessed brand,” Edward Cooper, Head of Crypto at Revolut said. “Since we launched our crypto offering in the States, we had swarms of customers requesting that we add Bitcoin Cash and Litecoin to the product. So, we took notice, got straight to work, and were able to deliver in just four weeks.”

The company highlighted that it aims to construct a financial super application that “provides customers with a checking account, budgeting tools, instant P2P payments.”

Revolut also allows users to spend and transfer the funds using a real-time exchange rate based on 28 different fiat currencies.

“I have said this before, but crypto has traditionally been inaccessible to the average consumer,” Cooper concluded.

“Traditional exchanges can be clunky and confusing, which immediately puts a lot of people off. We have built a platform that gives you exposure to the world of digital currencies at the tap of a button, and that’s the way it should be,” the Revolut Head of Crypto executive added.

What do you think about Revolut adding bitcoin cash and litecoin? Let us know in the comments section below.

The post Revolut Adds Bitcoin Cash and Litecoin Support for US Customers appeared first on Bitcoin News.

https://news.bitcoin.com/revolut-adds-bitcoin-cash-and-litecoin-support-for-us-customers/

Original Article
Author: btcethereumadmin

Price analysis 8/31: BTC, ETH, XRP, LINK, BCH, LTC, BSV, CRO, BNB, EOS – BTC Ethereum Crypto Currency Blog

Bitcoin and altcoins have bounced off their range lows, but they are likely to encounter resistance at higher levels.

The U.S. stock market is on track to clock its best August performance since 1984. Meanwhile, Bitcoin (BTC) is attempting a positive close for the month after having declined consecutively in August 2018 and August 2019. However, gold futures and the U.S. dollar index (DXY) have not been in favor, as both could end the month in the red.

Berkshire Hathaway disclosed a 5% stake each in five leading Japanese trading companies, and just a few days back, the company announced that it had a stake in a gold mining company.

Daily cryptocurrency market performance. Source: Coin360

Max Keiser of the Keiser report believes that these recent purchases by Berkshire are an indication that Buffett is diversifying away from the dollar. Hence, Keiser expects Bitcoin, gold and silver to make new all-time-highs in the near term.

While anything is possible in the markets, does Bitcoin’s chart show bullish setups that support the view of a sharp rally in the short term?

Let’s analyze the charts to find out!

BTC/USD

Bitcoin broke out of the 20-day exponential moving average (EMA) ($11,559) on Aug. 30, which is a positive sign. The bulls will now try to propel the price above the $12,113.50–$12,460 resistance zone.

BTC/USD daily chart. Source: TradingView

If they succeed, it will signal the possible resumption of the uptrend with the next target objective at $13,000 and then $14,000.

However, the 20-day EMA is flat, and the relative strength index is just above the midpoint, which suggests a balance between supply and demand. 

If the price turns down from the overhead resistance, the BTC/USD pair could remain range-bound between $12,113.50 and $11,000 for a few days. 

A break below $11,000 will indicate weakness, and the pair will turn negative on a drop below the critical support zone of $10,400 to $10,000.

ETH/USD

The bulls pushed Ether (ETH) above the 20-day EMA ($400) on Aug. 28 and followed that up with a strong up-move on Aug. 30, which brought the price above the $415.634 resistance.

ETH/USD daily chart. Source: TradingView

With this rise, the 20-day EMA has again started to slope up, and the RSI has broken out of a downtrend line, which suggests that the bulls are in command.

If they can propel and sustain the ETH/USD pair above $446.479, the uptrend is likely to resume with the first target at $480 and then $550.

Contrary to this assumption, if the pair turns down from the overhead resistance, it could spend some more time in consolidation. The momentum will weaken if the bears sink the price back below the critical support at $366.

XRP/USD

The bulls pushed XRP above the 20-day EMA ($0.28) on Aug. 30, which suggests strong buying at lower levels. The 20-day EMA has flattened out, and the RSI has risen above the 50 level, which suggests that the selling pressure has reduced. 

XRP/USD daily chart. Source: TradingView

If the bulls can sustain the price above the 20-day EMA, a move to $0.295 and then to $0.326113 is possible.

Contrary to this assumption, if the XRP/USD pair again dips back below the 20-day EMA, the bears will try to sink the price below the 50-day simple moving average ($0.26). If they succeed, the decline could extend to the 61.8% Fibonacci retracement level of $0.241068.

LINK/USD

Chainlink’s LINK broke above the symmetrical triangle on Aug. 29, which suggests buying at lower levels, but the bears are not willing to give up without a fight. They are currently attempting to stall the up-move at $17.6738.

LINK/USD daily chart. Source: TradingView

However, the 20-day EMA ($15) is sloping up, and the RSI is in the positive territory, which suggests that bulls have the upper hand.

If the bulls do not give up much ground, the possibility of a break above $17.6738 increases. Above this level, a retest of $20.1111 is likely. If the bulls can push the price above this level, the uptrend is likely to resume.

Contrary to this assumption, if the bears sink the LINK/USD pair below the 20-day EMA, a deeper decline to the 50-day SMA ($11.72) is possible. 

BCH/USD

Bitcoin Cash (BCH) has bounced off the $260 support but is facing resistance at $280. The 20-day EMA ($282) is also placed just above this resistance; hence, the bears will try to defend this level aggressively. 

BCH/USD daily chart. Source: TradingView

If the BCH/USD pair turns down from the current levels, the bears will once again try to break below the $260 support. If they succeed, a decline to $245 and then to $232 is possible.

Currently, the 20-day EMA has flattened out, and the RSI is just below the midpoint, which suggests a balance between supply and demand. However, if the bulls push the price above the 20-day EMA, a move to $300 and then to $326.30 is likely. 

LTC/USD

Litecoin (LTC) soared above the 20-day EMA ($59.24) and the downtrend line on Aug. 30, which suggests that the bulls are back in the game. However, the bears are currently attempting to stall the relief rally at the minor resistance of $64.

LTC/USD daily chart. Source: TradingView

If the LTC/USD pair turns down from the current levels, a drop to the 20-day EMA is possible. 

The 20-day EMA has started to turn up, and the RSI has jumped into the positive territory, which suggests a minor advantage to the bulls. If the pair rebounds off this support, the bulls will once again attempt to push the price above the $64–$68.9008 resistance zone.

This bullish view will be invalidated if the bears sink the price below the 20-day EMA. In such a case, a drop to the 50-day SMA ($54.72) is possible.

BSV/USD

The recovery in Bitcoin SV (BSV) is currently facing resistance at the breakdown level of $200. Both moving averages are placed just above this resistance; hence, the bears are likely to defend this level aggressively.

BSV/USD daily chart. Source: TradingView

The 20-day EMA ($201) is sloping down and the RSI is in the negative zone, which suggests that the bears have the upper hand.

If the BSV/USD pair turns down from the current levels, the bears will again attempt to sink the price below the $180 support. If they succeed, the decline could extend to $160 and then to $146.20.

Contrary to this assumption, if the bulls can push the price above the 50-day SMA ($203), a move to the downtrend line is possible. A break above this resistance will suggest that the bulls are attempting a comeback.

CRO/USD

Crypto.com Coin (CRO) broke above the $0.176596 overhead resistance on Aug. 30, which is a bullish sign. The bulls will now try to push the price to $0.191101, and if this level is scaled, a move to $0.20 is possible.

CRO/USD daily chart. Source: TradingView

The 20-day EMA ($0.169) is sloping up, and the RSI has broken above the resistance at 65, which shows that bulls have the upper hand. 

However, the bears are unlikely to give up without a fight. They will try to pull down the price back below $0.176596 and trap the aggressive bulls. If they succeed, a drop to the 20-day EMA is possible. A break below this support could result in a fall to $0.154322.

If the CRO/USD pair rebounds off the 20-day EMA, the bulls will once again attempt to resume the uptrend. Hence, this is the critical support to watch out for on any dips.

BNB/USD

Binance Coin (BNB) is currently facing resistance at the $23.91–$24.4588 zone, which shows a lack of demand at higher levels.

BNB/USD daily chart. Source: TradingView

However, if the BNB/USD pair rebounds off the 20-day EMA ($22.53), the bulls will make one more attempt to push the price above the $23.91–$24.4588 resistance zone. If they succeed, a rally to $27.1905 is possible.

Conversely, if the bears sink the price below the 20-day EMA, a drop to the $20.5710 support is likely. The bulls are likely to defend this support aggressively. If they succeed, the pair could consolidate between $23.91 and $20.571 for the next few days.

EOS/USD

EOS broke above the 20-day EMA ($3.22) on Aug. 30, which suggests that the bears are losing their grip. If the bulls can sustain the price above the 20-day EMA, a move to $3.4275 and then to $3.63 is possible.

EOS/USD daily chart. Source: TradingView

However, if the EOS/USD pair turns down from $3.4272, a few days of consolidation is possible. The flat 20-day EMA and the RSI just above the midpoint suggest a balance between supply and demand.

Contrary to this assumption, if the pair turns down from the current levels and plummets below the 20-day EMA, a drop to the 50-day SMA ($3.03) and then to $2.83 is possible. A break below this level will be a huge negative.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Price analysis 8/28: BTC, ETH, XRP, LINK, BCH, LTC, BSV, CRO, BNB, EOS – BTC Ethereum Crypto Currency Blog

Bitcoin and altcoins are holding key support levels, suggesting bulls will try to break above overhead resistance levels soon.

In his speech on Aug. 27, U.S. Federal Reserve chairman Jerome Powell said that the central bank will allow inflation to stay above its 2% target level if the figure has been languishing below that level for a long time. Some analysts believe that this could mean no rate hikes for at least five years.  

In response to the speech, the U.S.dollar index (DXY) resumed its downtrend while gold is trading in the black. This shows that traders believe that the central bank’s change in strategy could debase the dollar further, hence, the demand for gold as a store of value remains intact.

Gemini co-founder Tyler Winklevoss believes that eventually, Bitcoin (BTC) will overtake gold as the store of value due to its inherent advantages. Bitcoin’s current market capitalization is just above $200 billion while gold’s market cap is roughly $9 trillion. That means Bitcoin will have to rise 45-fold to $500,000 to reach the desired target objective, according to Winklevoss.

Daily cryptocurrency market performance. Source: Coin360

Such a huge spike in Bitcoin’s price is unlikely to happen without the participation of the institutional investors. Fortunately, recent developments have shown that institutional demand has been picking up in 2020.

In order to attract large ticket buyers, Fidelity has filed the paperwork with the US regulators to launch a new Bitcoin fund dedicated to its institutional clients. Even if institutional investors only allocate 1% of their funds into Bitcoin, it could spark a sharp rally.

So, is this a good time for retail traders to consider buying, or could the crypto market enter a period of correction? Let’s study the charts to find out.

BTC/USD

Although Bitcoin had been trading below the 20-day exponential moving average ($11,530) for the past two days, the bears could not sink the price below the $11,000 support, which suggests that bulls are buying on dips. 

BTC/USD daily chart. Source: TradingView

The 20-day EMA has flattened out and the relative strength index is close to the midpoint, which shows a balance between supply and demand.

If the bulls can push the price above the 20-day EMA, a retest of the overhead resistance at $12,113.50 is likely. The next uptrend is likely to start after the bulls can sustain the BTC/USD pair above the $12,113.50–$12,460 resistance.

Conversely, if the pair turns down from $12,113.50, the bears will once again attempt to sink the price below the $11,000 support. If successful, a retest of the critical support at $10,400 is possible. A break below this level will be a huge negative. 

ETH/USD

The bulls are aggressively defending the $366 support, which is a positive sign. If they can sustain the price above the 20-day EMA ($392), Ether (ETH) can rise to $415.634 and above it to the $446.479 resistance.

ETH/USD daily chart. Source: TradingView

The 20-day EMA is flat and the RSI is just above the 50 level, which suggests a balance between supply and demand. A break above $446.479 is likely to resume the uptrend with the next target objective at $480. 

Conversely, if the bears defend the $415.634 resistance aggressively, the ETH/USD pair could drop to $366 levels. Such a move will be a huge negative as that could form a bearish head and shoulders pattern, increasing the possibility of a deeper correction.

XRP/USD

XRP broke below the $0.268478 support on Aug. 27 but the bulls purchased the dip to the 50-day simple moving average ($0.255), which suggests demand at lower levels. 

XRP/USD daily chart. Source: TradingView

Currently, the buyers are attempting to push the price back above $0.268478. If they succeed, a move to the 20-day EMA ($0.28) is possible. This level is likely to act as a stiff resistance but if the buyers can scale the price above it, a move to $0.326113 is likely.

However, if the XRP/USD pair turns down from the 20-day EMA, the bears will try to break the 50-day SMA support and if they succeed, a drop to the 61.8% Fibonacci retracement level of $0.241068 is possible.

With the 20-day EMA gradually sloping down and the RSI in the negative zone, the advantage is with the bears.

LINK/USD

Chainlink (LINK) has been hovering around the 20-day EMA ($14.56) for the past few days and has formed a symmetrical triangle pattern, which suggests indecision.

LINK/USD daily chart. Source: TradingView

If the bulls can push the price above the triangle and the $16 resistance, a move to the pattern target of $18.69 and then to $20.1111 is possible.

The 20-day EMA is rising gradually and the RSI has been sustaining in the positive territory, which suggests that the advantage remains with the bulls.

However, if the LINK/USD pair turns down and breaks below the triangle, it will be a huge negative and can result in a drop to the 50-day SMA ($11.13). Such a move will suggest that a short-term top has been made at $20.1111.

BCH/USD

The weak bounce off the 50-day SMA ($272) on Aug. 26 attracted another round of selling that pulled Bitcoin Cash (BCH) down to the first support at $260.

BCH/USD daily chart. Source: TradingView

Currently, the bulls are defending the $260 support but the recovery is likely to face stiff resistance at $280. The downsloping 20-day EMA ($284) and the RSI in the negative zone suggests that bears have the upper hand.

If the BCH/USD pair turns down from the 20-day EMA, the bears will again attempt to sink the price below the $260 support. If they succeed, a drop to $240 is possible.

However, if the buyers push the price above the 20-day EMA, a retest of the overhead resistance at $326.30 is likely.  

LTC/USD

Litecoin (LTC) has bounced off the 50-day SMA ($53.78), which suggests that the bulls are aggressively defending this support. They will now try to push the price above the downtrend line, which could extend the recovery to $63 and then to $68.9008.

LTC/USD daily chart. Source: TradingView

However, the 20-day EMA ($58.84) is sloping down and the RSI is just below 50, which suggests a marginal advantage to the bears.

If the LTC/USD pair turns down from the downtrend line, it will suggest that the bears are selling on rallies. If they can sink the price below the 50-day SMA, the decline can extend to the critical support at $51. 

BSV/USD

The bulls are currently attempting to defend the $180 support but any recovery in Bitcoin SV (BSV) is likely to face stiff resistance at $200.

BSV/USD daily chart. Source: TradingView

If the BSV/USD pair turns down from $200, the bears will attempt to resume the correction by pulling down the price to $160 and then to $146.20.

Conversely, if the bulls can push the price above the moving averages, the recovery can extend to the downtrend line. The bears are again likely to defend this resistance aggressively.

The pair is likely to pick up strength after the bulls can propel the price above the $227 overhead resistance. 

CRO/USD

Crypto.com Coin (CRO) has been trading above the 20-day EMA ($0.167) for the past three days, which is a positive sign. 

CRO/USD daily chart. Source: TradingView

The 20-day EMA has been gradually sloping up and the RSI is in the positive territory, which suggests that bulls have the upper hand. 

A breakout and close (UTC time) above $0.176596 will signal a possible resumption of the uptrend. The bears are likely to defend the highs at $0.191101 but if the bulls can push the price above it, a move to $0.20 is possible.

Contrary to this assumption, if the bears sink the price below the 20-day EMA, the CRO/USD pair could drop to the 50-day SMA ($0.158) and then to $0.154322.

BNB/USD

Binance Coin (BNB) broke above the downtrend line and the overhead resistance of $22.93 on Aug. 27, which suggests that the bulls are back in the game. 

BNB/USD daily chart. Source: TradingView

However, the bears are unlikely to give up without a fight. They will offer a stiff resistance in the $23.91–$24.4588 zone. If the BNB/USD pair turns down from this resistance, the bears will try to sink the price to $20.5710.

The 20-day EMA ($22.28) has turned up marginally and the RSI is in the positive territory, which suggests advantage to the bulls. If the buyers can push the price above the overhead resistance zone, a rally to $27.1905 is possible.

EOS/USD

EOS corrected sharply from the Aug. 16 highs of $3.95 and fell to an intraday low of $2.8577 on Aug. 27, which completed a 100% retracement of the entire leg of the rally that had started on Aug. 12.

EOS/USD daily chart. Source: TradingView

The bulls are currently attempting to start a relief rally, which is likely to face stiff resistance at the 20-day EMA ($3.23). If the price turns down from this resistance, it will suggest that the bears are selling on rallies. 

They will then try to sink the EOS/USD pair below the $2.83 support and if they succeed, a drop to $2.60 is possible.

Conversely, if the bulls can push the price above the 20-day EMA, the recovery could extend to $3.42 and then to $3.631.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin