Kraken Daily Market Report for October 18 2020

Kraken Daily Market Report for October 18 2020

Key Support Levels: $364, $355, $346.
Key Resistance Levels: $380, $396, $400.

Last week, Etheruem had surged as high as $396 as it hit the resistance provided by a bearish .5 Fib Retracement level. Over the week, Ethereum started to head lower from here as it broke beneath $376 to reach the support at the 2019 High at $364 on Friday.

ETH bounced higher over the weekend as it reached as high as $380. However, the coin is now facing short term resistance at a falling trend line and must overcome this level to continue higher toward $400.

It’s worth noting that the cryptocurrency is trapped in a range and it’s unable to break from it for the time being.

Looking ahead, if the buyers manage to break the trend line and head above $380, the first level of resistance lies at $396 (bearish .5 Fib). This is closely followed by resistance at $400. Beyond $400, additional resistance lies at $410 and $416 (bearish .618 Fib).

On the other side, if the sellers push beneath $375, the first level of support lies at $364 (2019 Highs). Beneath this, support lies at $355, $346 (100-days EMA), and $336.

Key Support Levels: 0.032 BTC, 0.0315 BTC, 0.0311 BTC.
Key Resistance Levels: 0.0337 BTC, 0.034 BTC, 0.0347 BTC.

Against Bitcoin, Ethereum is currently trading within a symmetrical triangle pattern that started in the first week of September. Each time the bulls attempt to push above the triangle, they are rejected by the upper boundary and head lower.

Last week, they tried to push above 0.0337 BTC (March 2019 Support – now resistance) but failed to follow through. As a result, they headed into the lower boundary, where the market rebounded over the weekend to reach the current 0.0327 BTC level.

Looking ahead, if the buyers can break the upper boundary, the first level of resistance lies at 0.0337 BTC. Above this, resistance is expected at 0.034 BTC, 0.0347 BTC, and 0.0352 BTC.

On the other side, the first level of support lies at the lower boundary of the triangle. Beneath this, support lies at 0.032 BTC (100-days EMA), 0.0315 BTC, and 0.0311 BTC (.618 Fib Retracement).

The RSI is at the mid-line, which shows the market is in a state of indecision. For a break above the triangle, the RSI must break the mid-line to show bullish momentum within the market.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source: news.coingenius.ai

Author: Published 16 hours ago on October 19, 2020

By Republished by Plato


Chasing the most well liked tendencies in crypto, the EU works to rein in stablecoins and DeFi

Chasing the most well liked tendencies in crypto, the EU works to rein in stablecoins and DeFi

Source: CoinTelegraph.com

The post Chasing the most well liked tendencies in crypto, the EU works to rein in stablecoins and DeFi appeared first on Bitcoin Upload.

Source: crypto-traffic.com


Bitcoin News Roundup for Oct. 19, 2020

Bitcoin News Roundup for Oct. 19, 2020

Key Support Levels: $364, $355, $346.
Key Resistance Levels: $380, $396, $400.

Last week, Etheruem had surged as high as $396 as it hit the resistance provided by a bearish .5 Fib Retracement level. Over the week, Ethereum started to head lower from here as it broke beneath $376 to reach the support at the 2019 High at $364 on Friday.

ETH bounced higher over the weekend as it reached as high as $380. However, the coin is now facing short term resistance at a falling trend line and must overcome this level to continue higher toward $400.

It’s worth noting that the cryptocurrency is trapped in a range and it’s unable to break from it for the time being.

Looking ahead, if the buyers manage to break the trend line and head above $380, the first level of resistance lies at $396 (bearish .5 Fib). This is closely followed by resistance at $400. Beyond $400, additional resistance lies at $410 and $416 (bearish .618 Fib).

On the other side, if the sellers push beneath $375, the first level of support lies at $364 (2019 Highs). Beneath this, support lies at $355, $346 (100-days EMA), and $336.

Key Support Levels: 0.032 BTC, 0.0315 BTC, 0.0311 BTC.
Key Resistance Levels: 0.0337 BTC, 0.034 BTC, 0.0347 BTC.

Against Bitcoin, Ethereum is currently trading within a symmetrical triangle pattern that started in the first week of September. Each time the bulls attempt to push above the triangle, they are rejected by the upper boundary and head lower.

Last week, they tried to push above 0.0337 BTC (March 2019 Support – now resistance) but failed to follow through. As a result, they headed into the lower boundary, where the market rebounded over the weekend to reach the current 0.0327 BTC level.

Looking ahead, if the buyers can break the upper boundary, the first level of resistance lies at 0.0337 BTC. Above this, resistance is expected at 0.034 BTC, 0.0347 BTC, and 0.0352 BTC.

On the other side, the first level of support lies at the lower boundary of the triangle. Beneath this, support lies at 0.032 BTC (100-days EMA), 0.0315 BTC, and 0.0311 BTC (.618 Fib Retracement).

The RSI is at the mid-line, which shows the market is in a state of indecision. For a break above the triangle, the RSI must break the mid-line to show bullish momentum within the market.

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source: news.coingenius.ai

Author: Published 2 hours ago on October 19, 2020

By Republished by Plato


Where to invest $10,000 right now

Where to invest $10,000 right now

The upsurge in COVID-19 instances around the globe has stored world buyers flocking the world’s safe-haven foreign money at an exponential fee, the excessive demand for the dollar is approaching the excessive geopolitical uncertainty prevailing in in the present day’s monetary market.

Additionally, it’s essential to notice on the foreign money market, the usdollar stays king. In accordance with the Worldwide Requirements Group, 90% of foreign money buying and selling achieved globally entails the U.S. greenback, most crypto property, just about probably the most liquid commodities are priced in the usdollar not forgetting about 40% of the world’s debt is dominated within the dollar.

So Nairametrics felt it paramount to ask a hedge fund supervisor,  entrepreneurs, and monetary consultants, about what sectors or property they might put money into if they’d, say, $10,000.

Their responses had been revealing and numerous as they had been diverse—starting from; shopping for world equities, native shares, actual property holdings to investing in digital property.

Gavin Smith, veteran dealer, and managing companion at Panxora Crypto Hedge Funds.

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I’d scale into BTC $2,000 now, $2,000 when it comes off to $10,000, then add $2,000 at $9,000 and one other $2,000 on the $8,000 degree. If BTC then breaks above $13,000 I’d purchase any of the above orders that had not been stuffed of the remaining $2,000. I’d put $500 into every of those 4 DeFi protocols: LINK, COMP, KNC, and OMG.”

DeFi is an exceptionally risky market and these would wish energetic administration, however they signify a possibility with distinctive upside potential. It is a market our analysts are constructing a profile in, to advance our DeFi hedge fund later within the yr.

Debo Adejana – Founder, MD/CEO – Realty Level Restricted.

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I comply with the funding knowledge that claims, ‘put money into what you realize and perceive’. I do know and perceive actual property in all probability greater than every other funding asset class.

So, the choice as per what I’ll put money into with $10,000 which needs to be upwards of N4m is solely; Actual Property. I’ll both do rental earnings property as a part of a correctly organized shared-ownership construction or speculate on land relying on how a lot time I’ve with the cash. The explanations are very primary, actual property investments have been recognized to outlive and surpass any and each problem.”

Darlington-Morsi Onyemaka, Co-founder Quba Alternate Forbes Accelerator Cohort ’20.

One of many foremost tips to funding portfolio is diversified throughout a number of asset courses which needs to be in accordance with the investor’s threat urge for food. Taking a look at my long-term funding technique, actual property matches in completely for Ten-thousand greenback funding. My portfolio is already jam-packed with high-risk property and Actual Property will do a terrific job at hedging the danger components with out minimizing profitability in any vital approach.”

Francis Obasi Cofounder and CEO of Lead Pockets.

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If I’ve a spare $10,000 proper now for funding, first, I’ll make investments 55% of the funds into new crypto startups being run by professionals and backed by corporations like Coinlist; LID Protocol, and Binance. Second, I’ll make investments 20% of the funds into Lead Token as there may be nonetheless potential for large progress within the coming months/years. Third, trying on the state of affairs of Nigeria, and never realizing the place the present protest (rebellion) on #EndSARS is headed, I’ll reserve the remaining 25% in USDC/USDT to carry towards a possible Naira crash. I’m assured that there’s each chance that the Greenback will turn out to be scarce once more within the coming weeks/months as a result of ongoing protest, thereby returning instantaneous positive aspects for rapid spending on primary wants.”

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Dapo-Thomas Opeoluwa International Markets analyst and an Vitality Dealer.

“There are such a lot of methods to take a position $10,000. The actual query is determined by the investor. His threat urge for food, his funding horizon, when does she or he need to liquidate? The solutions to those now restrict the choices of investments. So for secure and long-term investments, I all the time advise investing in index funds, Eurobonds or the Nigeria Worldwide Debt fund. That is with the caveat that claims ‘low threat equals low returns’. Additionally, I normally would say, put money into investments that beat inflation so that you received’t endure adverse actual turns.”

Victoria Njimanze Funding Analyst at a Nigerian Funding Financial institution

Properly, off my head I’ll go along with Bonds, cryptocurrency, Shares, after which alternate options.  I’d undoubtedly make my findings first, however I’ll make a bigger portion go into Bonds say 40%, 30% in cryptocurrency, 20% in shares, and 10% in alternate options like commodity market in order to have a diversified portfolio.”

Akinsola Esan, a credit score threat analyst at Nigeria’s Tier 1 Financial institution.

Principally, the aim is to earn substantial returns on investments – dividends, capital appreciation, and secondly, beat inflation in naira which is presently about 12.85%. With $10,000, I’ll unfold my investments throughout overseas equities corresponding to buying and holding shares of corporations like Apple, Fb, Google, Fastly, Nio, Amazon, to checklist however a couple of, and in addition purchase some top-performing dollar-denominated Mutual funds corresponding to Vantage greenback funds and another ones really helpful by Nairametrics. Lastly, I’ll look within the space of cryptocurrencies by investing as a lot in bitcoin, Ethereum, and different acknowledged Cryptos. There are some dividend-paying shares listed on the Nigerian inventory alternate as properly, I’ll contemplate holding numerous them.

As a result of current fickle nature of worldwide monetary markets, most monetary consultants interviewed above are unsurprisingly eager on principally U.S dollar-dominated monetary property, thus reflecting the dollar’s dominance in demand amid the COVID-19  an infection exploding at an alarming fee.

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Source: gentlecrypto.com


Why a Technical Analyst is Predicting a Sub-$8K Yearn Finance (YFI) Crash

Why a Technical Analyst is Predicting a Sub-$8K Yearn Finance (YFI) Crash

More warnings flashed for Yearn Finance’s governance token YFI even as it showed signs of recovering after an upside weekend session.

Market analyst Teddy Cleps envisioned a waterfall-like trend for YFI/USD, noting that the pair is likely to continue trading lower with anticipations of bouncing back on every support-retest. He further hinted that price floors might trick traders into believing that YFI has bottomed out, but the support with the best possibility of beginning a strong rebound lies $8,000 below the current price levels.

YFI bearish outlook, as presented by Teddy Cleps. Source: YFIUSD on TradingView.com

“[I’m] waiting for 1) Retrace, and 2) Buying contact with resistance (hopefully new support), [followed by] Invalidation back below the dotted line,” tweeted Mr. Cleps. “Patience is key, no need to rush this.”

The analyst appeared confident about YFI’s long-term aspects as a financial asset. Nevertheless, his short-term outlook for the decentralized finance token raised worries about the long period it would take to pare all the losses back to its record high near $44,000.

YFI/USD has corrected by more than 60 percent from the said price top.

Calls for another bearish leg for YFI come as traders show uncertainty over the Yearn Finance’s latest mishaps. Alameda Research and FTX crypto exchange CEO Sam Bankman-Fried noted that investors sold-off their YFI holdings because of three separate but converging reasons.

First, Mr. Bankman-Fried noted a negative sentiment across all the DeFi projects. Almost all of them rose exponentially at a rapid pace earlier this year. That stoked profit-taking sentiment among traders, causing steep declines in every overbought asset, including YFI.

Second, the analyst blamed bad press coverages for fueling the token’s correction further. That included Eminence, a gaming project launched by the Yearn Finance creator Andre Cronje, that lost about $15 million worth of funds locked inside its contracts.

Mr. Cronje, nevertheless, was not seeking anyone to put money into his Eminence contracts, he clarified later, adding that people invested out of their own will, knowing that he was running contracts in a test-stage.

The founder later quit social media.

Third, yields offered by Yield Farming projects plunged heavily during the third quarter. As an aggregator, Yearn Finance relied on higher returns to boost the adoption of YFI. The token’s intrinsic value borrows a portion from the yields generated by the Yearn Finance protocol.

YFI entered a stage where the short positions against it surged higher than the long ones. But over the weekend, the Yearn Finance token defied bearish expectations after rebounding 20.66 percent from its local low at $13,124.

Yearn Finance was on the track of paring part of its weekend gains this week. Source: YFIUSD on TradingView.com

The surge appeared after Polychain, an asset management firm, invested about $5 million into the YF market. Some treated the news as a validation of Yearn Finance’s success as a yield-farming project. Market analyst Chad tweeted:

I have seen some bullish maturing in the $YFI market:
1) The hypersensitive $YFI market is becoming desensitized to sensationalist news.
2) The market is finally accepting that @iearnfinance is not a corp. and Andre is not its CEO
3) Kirby is gone#DeFi

— 아론 | 🦸‍♂️ ΞtherMan | 🍠 Chad | 🐢 $NXM SuperBull (@krugman25) October 19, 2020

Meanwhile, Jason Choi of the Spartan Group warned that traders should not take Polychain’s YFI investment as their cue to long the token. Instead, they should wait for the firm to increase its holdings of the Yearn Finance token.

“In the short term,” he added, “we still need to break this cycle: Collapsing APY -> TVL drain -> fewer fees -> less value capture by YFI. This will likely continue unless yields return and/or yearn strategies diversify beyond reliance on yCRV vault/ yield farming alone.”

YFI was trading at $14,795 at the time of this writing.

Source: icryptodesk.com

Author: admin


Kraken Daily Market Report for October 18 2020


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