WILL $0.60 SUPPORT HOLD AS MOMENTUM FADES?
The question of whether the $0.60 support will hold as momentum fades seems to be related to cryptocurrency, specifically Cardano (ADA). According to recent analyses, Cardano's price has been struggling to maintain its momentum.
Key Points to Consider:
-Cardano's Price History: ADA's price has faced resistance and struggled to break above certain levels, leading to a decline in momentum.
Current Trends: The cryptocurrency market is experiencing a slowdown, which could lead to a correction within the uptrend.
Technical Indicators: The Relative Strength Index (RSI) and Moving Averages (MA) are crucial in determining the trend direction and potential support levels .
Analysis of $0.60 Support:
Support Level: The $0.60 level has been mentioned as a potential support zone, but recent news suggests it might be challenging for ADA to maintain this level if momentum fades further.
Market Sentiment: Market sentiment plays a significant role in determining the direction of crypto market trends. If sentiment turns bearish, it could impact ADA's price .
Given the current market conditions and technical indicators, it's essential to monitor ADA's price action and market sentiment closely. If you're considering investing or trading ADA, keep an eye on key support levels and trend directions to make informed decisions.#MarketRebound #BinanceAlphaAlert #ADA $ADA
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SEC CHAIR SUPPORTS BITCOIN SELF CUSTODY POLICY SHIFT!
The US Securities and Exchange Commission (SEC) Chair, Paul Atkins, has indeed expressed support for Bitcoin self-custody, calling it a "foundational American value". This stance marks a significant shift in regulatory approach, prioritizing individual control over digital assets .
Key Points from SEC Chair's Statement:
Self-Custody as a Foundational Right: Atkins emphasized that the right to self-custody digital assets is essential and should not be restricted by the SEC.
Flexibility for DeFi Sector: The SEC Chair advocates for greater flexibility in the DeFi sector, allowing market participants to self-custody crypto assets without unnecessary transaction costs or restrictions.
Criticism of Past Crypto Crackdown: Atkins criticized the previous SEC leadership's approach to crypto regulation, particularly around staking and self-custody, as overreaching and harmful to innovation.
Call for Congressional Approval: Atkins believes that staking regulation needs explicit congressional approval to ensure clarity and effectiveness .
Potential Impact:
-Growth in Crypto and DeFi: The proposed shift in regulatory approach could unleash massive growth in the crypto and DeFi sectors, empowering users and fueling innovation.
New Exemption for DeFi Projects: A potential "innovation exemption" could allow DeFi projects to launch more quickly, promoting development in the space .#Tradersleague #MarketRebound #BTC110KSoon? #SEC
🌏 XRP at a Turning Point as Ripple Doubles Down on Asia-Pacific Expansion
XRP's upswing is weakening, signaling trader weariness and profit-taking.
Ripple adds $5 million to Asia-Pacific blockchain innovation financing.
As global markets await the outcome of the second day of trade discussions between senior US and Chinese officials, XRP's price is around $2.27, down over 2% on the day.
Ripple invests more in APAC
With $5 million in financing from its worldwide University Blockchain Research Initiative, Ripple has increased its APAC commitment.
Six nations are involved, including renewed cooperation in South Korea, Japan, and Singapore and new funding to Taiwan and Australia.
Ripple's growing emphasis in APAC matches governments' efforts to clarify crypto legislation and boost digital finance.
UBRI has been establishing the groundwork for blockchain innovation in higher education in communities of builders, stakeholders, and users.
Ripple will spend $1.1 million in Korea University over six years under the renewed ties. The previous connection with Yonsei University is continued here.
Ripple extended its Kyoto University relationship to enhance blockchain research in Japan. The cooperation grants $1.5 million.
Nanyang Technological University (NTU) will expand its cooperation with NUS with $3 million.
"We can involve more students and researchers in the blockchain ecosystem by allowing them to build on the XRPL and contribute to its growth, advancing our blockchain education initiatives," stated NTU College of Computing & Data Science Professor Yang Liu.
Along with funding, UBRI promotes research and development to create blockchain, cybersecurity, and information systems skills. UBRI has spent over $11 million in APAC blockchain and fintech education, adoption, and innovation.
XRP's price upside remains strong despite the unprecedented financing news, but technical signs are pessimistic. Current support is $2.25 and resistance is $2.32 for the coin.
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