Month: November 2024

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Bloomberg: Shiba Inu (SHIB) trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards. Shiba Inu investors accumulate on the dips Shiba Inu price faces a corrective pullback after surging more than 50% in early November. However, its on-chain metrics suggest a bullish outlook ahead. Santiment’s exchange outflow data shows a massive spike, indicating that 1.67 trillion SHIB worth nearly $41 million has been withdrawn from exchanges. Historically, when SHIB experienced a similar spike in exchange outflow, the meme coin rallied massively. Shiba Inu Exchange outflow chart. Source: Santiment Santiment’s Age Consumed index also aligns with the bullish outlook. Spikes in this index suggest dormant tokens (tokens stored in wallets for a long time) are in motion and can be used to spot short-term local tops or bottoms. For Shiba Inu, history shows that the spikes were followed by a rally in meme coin prices. The most recent uptick on November 14 also forecasted that SHIB was ready for an uptrend. SHIB Age Consumed chart. Source: Santiment Shiba Inu Price Forecast: A recovery on the cards Shiba Inu price declined more than 5% after facing resistance around its weekly level of $0.000028 in the second week of November. The weekly resistance at $0.000028 coincides with the 50% price retracement level ( drawn from a March high of $0.000045 to an August low of $0.000010) at $0.000028, making it a key resistance zone. As of this week, the pullback continues, trading at around $0.000023. If Shiba Inu breaks and closes above $0.000028, it will rally to retest its end-March weekly high of $0.000032. The Relative Strength Index (RSI) on the weekly chart reads 59, above its neutral level of 50, indicating the bullish momentum is gaining traction. SHIB/USDT weekly chart However, if SHIB continues the pullback and closes below $0.000019 weekly support, it will extend the decline to retest the weekly low of $0.000016. submitted by /u/Denchock [link] [comments]

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Nvidia

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Ethereum Price Forecast: ETH could decline by 23% if descending triangle pattern is validated

Bloomberg: Ethereum is down 2% after sustaining $47.88 million in liquidations in the past 24 hours. Liquidating long and short positions accounted for $34.71 million and $13.17 million, respectively. On the 4-hour chart, ETH is trending downward toward the $3,000 psychological level. After posting a series of lower highs and lower lows, the top altcoin’s recent move is following a descending triangle pattern. ETH/USDT 4-hour chart As a result, if ETH declines below the $3,000 psychological level, it could take a 23% dive to the support level near $2,300. However, the $2,817 key level, which bulls defended for nearly four months between April and July, could help prevent such a sharp decline. The Relative Strength Index (RSI) is slightly below its neutral level, indicating bearish momentum is moderately dominant. The Stochastic Oscillator is in the oversold region, indicating strong bearish pressure and potential for a brief recovery. A daily candlestick close above $3,400 will invalidate the bearish thesis. submitted by /u/Denchock [link] [comments]

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Israeli markets seem poised for a leap on positive news. Time to take a closer look at longs. Moreover, despite everything: According to data from the Abraham Accords Research Institute, trade in the first nine months of 2024 compared to the same period last year shows impressive growth:

Israel-Morocco: +53% Israel-UAE: +4% Israel-Bahrain: +988% Israel-Egypt: +51% (Trade volumes with Egypt and Morocco remain low, but the trend is clear nonetheless.) https://preview.redd.it/0rx7edbnw32e1.jpg?width=1200&format=pjpg&auto=webp&s=2577cd67d2014f69dad1a6d920fc2c5a76ca4747 submitted by /u/XGramatik [link] [comments]

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Gold pushes higher on simmering Russia-Ukraine tensions

Bloomberg: Technical Analysis: XAU/USD extends short-term uptrend Gold recovers above a major trendline on Wednesday as it extends its short-term trend higher. Given the principle of technical analysis that “the trend is your friend,” the odds favor more upside to come. XAU/USD 4-hour Chart A break above the daily high at $2,642 will probably indicate an extension of the trend higher. The next target to the upside lies at $2,686, the September 26 high. The precious metal is in a downtrend on a medium-term but an uptrend on a long-term basis, raising risks of moves both higher or lower in line with these broader cycles. submitted by /u/Denchock [link] [comments]

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Be honest what am I doing wrong?

I lost three trades and I still don’t know what is the problem. I use trendlines, support and resistance and BOS analytical tools as well as Fibs but i i can’t still quite get it. What can I do to improve my game? submitted by /u/Denchock [link] [comments]

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PayPal has partnered with Xoom to enable cross-border payments using its stablecoin, PayPal USD (PYUSD), expanding access in Asian and African markets.

https://preview.redd.it/k1lsfw7il12e1.png?width=736&format=png&auto=webp&s=18fd3bb03d992ae289f2cd01a50e642afee424a4 This collaboration aims to facilitate faster transactions outside traditional banking hours. PYUSD, launched in 2023, is backed by US dollars and competes with stablecoins like USDC. Despite its growth, PYUSD still lags behind the market leaders, USDt and USDC, which dominate the stablecoin market. submitted by /u/Pllover12 [link] [comments]

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What’s an AppLovin, and why is it suddenly worth $100 billion?

Barron’s: The company has a software platform that helps app developers, mostly game makers, reach new users who will download the apps and become paying customers. At the heart of it is a recommendation engine powered by artificial intelligence called Axon. The company can also help app owners grow in-game advertising revenue. And it has a couple of hundred of its own casual games, which make money and generate valuable user data. “We are cautious on near-term business fundamentals and long-term competitive positioning,” one Wall Street analyst wrote near the beginning of last year, when AppLovin APP +7.78%’s shares were $11. He initiated coverage at “Sell” and predicted a fall to $7. Oopsie. Now they’re $320. How did we miss it? Worth to note that things in this case have happened quickly. More than $100 of the stock’s climb has come this month. Source: https://www.barrons.com/articles/applovin-stock-price-apple-games-6d939851?mod=Searchresults submitted by /u/FXgram_ [link] [comments]

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Technical Analysis: EUR/USD faces selling pressure near 1.0500

EUR/USD holds the key support of 1.0500 but struggles to extend recovery above 1.0600. The outlook of the major currency pair remains bearish as all short- to long-term daily Exponential Moving Averages (EMAs) are declining. The 14-day Relative Strength Index (RSI) oscillates in the bearish range of 20.00-40.00, adding to evidence of more weakness in the near term. Looking down, the pair is expected to find a cushion near the October 2023 low at around 1.0450. On the flip side, the round-level resistance of 1.0600 will be the key barrier for the Euro bulls. submitted by /u/Denchock [link] [comments]

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