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19TH JULY LATEST CRYPTO NEWS DIGITAL MAGAZINE

Bitcoin soared above $22,000 and Ether above $1,500 on July 18, raising hopes that the worst may be over for the cryptocurrency markets. Bitcoin’s recovery started on July 13 even as the United States inflation in the month of June hit a 40-year high of 9.1%, much higher than economist expectations of 8.8%, according to Refinitiv.

The recovery in Bitcoin and Ether on July 18 pushed the total crypto market capitalization above $1 trillion for the first time since June 13, according to coinmarketcap data. Does the recovery mark the end of the bear phase in Bitcoin? Market intelligence firm Glassnode believes that a “genuine bottom formation could be underway” but more sideways action is likely in the next few weeks.

We had projected in our previous analysis that if Bitcoin rebounds off the support line, it could reach the resistance line of the ascending channel and that is what happened. The price has turned down from the resistance line, indicating that bears are active at higher levels.

If the price rebounds off the 20-day exponential moving average (EMA), the bulls will make another attempt to clear the overhead hurdle. If they succeed, the BTC/USD pair could pick up momentum and rally toward the pattern target of $26,500. If this level is crossed, the up-move could reach $32,000. On the other hand, if the price slips below the 20-day EMA, the pair could drop to the support line of the channel.

A bounce off this level will suggest that the pair may extend its stay inside the channel for a few more days. The flattish 20-day EMA and the relative strength index (RSI) near the midpoint also suggest a range-bound action in the near term. The bears will have to sink the price below the channel to gain the upper hand. That could open the doors for a retest of the June 18 intraday low of $17,567.45.

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!

FEATURING IN THIS WEEKS EDITION

– Globiance
– Cardalonia
– LunaOne
– Age of Zalmoxis
– AiBook.Art

– DDC
– Hubble Protocol
– World Mobile Token
– CleanCarbon

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

We had projected in our previous analysis that if Bitcoin rebounds off the support line, it could reach the resistance line of the ascending channel and that is what happened.

The price has turned down from the resistance line, indicating that bears are active at higher levels. If the price rebounds off the 20-day exponential moving average (EMA), the bulls will make another attempt to clear the overhead hurdle. Read more

ETHEREUM – ETH/GBP

Ether bounced off the strong support at $990 on July 13 and broke above the overhead resistance at $1,280 on July 16. This indicates that the ETH/USD pair may have bottomed out at $879.80.

The bears tried to stall the up-move at the 50-day simple moving average (SMA) on July 17 but sustained buying by the bulls cleared the overhead hurdle on July 18. The pair could reach $1,700 where the bears are expected to mount a strong resistance. Read more

RIPPLE – XRP/GBP

XRP has been trading between $0.29 and $0.38 for the past few days. In a range, traders buy near the support and sell near the resistance. The 20-day EMA has flattened out and the RSI is in the positive territory, indicating a slight advantage to buyers.

If the price rebounds off the 20-day EMA, the likelihood of a break above $0.38 increases. If that happens, the XRP/USD pair could rally to the next overhead resistance at $0.45. The bears are expected to defend this level with vigor. Read more

CARDANO/USD

Cardano bounced off the crucial support at $0.39 on July 13, indicating strong demand at lower levels. The buyers cleared the 20-day EMA hurdle on July 18 but are facing resistance at the 50-day SMA.

The 20-day EMA has flattened out and the RSI is just above the midpoint, suggesting that the selling pressure could be reducing.

If the price turns down from the current level but rebounds off the 20-day EMA, it will enhance the prospects of a break above the 50-day SMA. If that happens, it will suggest that the bulls are back in the game. Read more

BINANCE – BNB/GBP

The bulls aggressively defended the $211 support on July 13, indicating that this level could be acting as a strong floor. The buyers pushed Binance Coin above the 20-day EMA on July 14 and cleared the hurdle at the 50-day SMA on July 18. This is the first indication that the BNB/USD pair may have bottomed out.

The moving averages are on the verge of a bullish crossover and the RSI is in the positive territory. This suggests that buyers have the upper hand. The critical level to watch on the downside is the 20-day EMA. Read more

Subscribe to the latest crypto news digital magazine for the latest updates about profit and loss in cryptocurrency.

NFT Market Summary July 19, 2022

Since the crypto and NFT markets are going through a very turbulent phase at the moment, discussions around their potential use cases in real world have gained prominence yet again in general conversations and discourse.

Critics of the crypto and NFT feel bolstered by the sharp fall in prices of most of the digital assets and are questioning the potential use cases of these digital assets in real-world. They even say that most potential use-cases being talked about, are hypothetical and yet to be tested.

However, changes are happening slowly and real-world use cases of crypto and NFT are being implemented, which are set to prove the critics wrong. Last week, a UK judge has given the nod to serve legal documents over the blockchain ledger through an NFT. Read more

Gamestop NFT Marketplace Records US $3.5 Million Sales Within Days Of Launch

The new NFT marketplace of US-based video-game retailer GameStop has already seen over US $3.5 million worth of trading volumes in less than a week of its launch on Monday. The NFT marketplace has already outperformed Coinbase NFT, which was launched with lot of hype in April and the waitlist for Coinbase NFT platform reaching more than three million users.

Both the platforms are being in the Beta phase and are not open to all creators and artists. The Coinbase NFT marketplace has recorded an all-time trading volume of around 1,704 ETH, valued at around US $1.8 million, despite being around for over two months. Read more

NFT Marketplace Opensea To Cut 20% Of Its Workforce

OpenSea, the world’s largest NFT marketplace, has announced that it would cut its total workforce by 20% to reduce costs in the face of a prolonged slump in the digital asset markets, the company said. Since OpenSea does not disclose the number of its employees, it is unclear exactly how many people are impacted by the job-cut decision. The New York-based company had explosive sales and volume growth in 2021, when the rise in cryptocurrency prices lured many people, including speculators, into digital assets. The crypto space exploded during the pandemic with prices of major crypto assets rocketing up, which led to the hiring spree among crypto and NFT firms. Read more

Hubble Protocol Partners With Lido Finance To Bring You A New Collateral ($Stsol) To Mint $Usdh

Hubble Protocol, a platform that allows you to mint USDH stablecoin against multiple types of collateral, has partnered with LidoFinance, to expand your investment portfolio through a new token integration and reward program. 

Thanks to this partnership, individuals can now use $stSOL to mint &USDH. The Lido Finance stablecoin, StSOL, is now acceptable as collateral. $stSOL holders can benefit from $stSOL Hubble acceptance through the following: Read more

Aibook: Where Famous Book Quotes Get Immortalized On The Blockchain

If you are a book reader or a lover of classic literature, then you must be fascinated by some of the quotes that authors of those books have used in some of their masterpieces and wished they could be better preserved in other forms as well, apart from your mind, of course.  

After all, those quotes have transcended geographical boundaries, lived through generations and have eventually become timeless classics over the years. Even though the world is moving at lightning speed thanks to the rapid advancements in technology, these quotes and the personalities who have written them, will always remain valuable to literary enthusiasts.  Read more