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30TH AUGUST LATEST CRYPTO NEWS DIGITAL MAGAZINE

The United States Federal Reserve Chair Jerome Powell dashed hopes of any slowdown in the central bank’s aggressive monetary tightening in his speech at The Jackson Hole Symposium on August 26. Powell said that curbing inflation “requires using our tools forcefully to bring demand and supply into better balance."

He also warned that higher interest rates may “bring some pain to households and businesses.” The central bank’s tightening has been negative for risky assets but the US dollar index (DXY) has been in a strong uptrend with no signs of topping out. There is a minor resistance near 110 but if this level is crossed, the DXY could continue its parabolic move and surge toward 120 as there is no major resistance in between. If that happens, the equities markets and crypto markets may remain under pressure as these assets generally have a strong inverse correlation with the DXY.

We warned traders in our previous analysis that a shallow rebound off the strong support of $20,715 showed that demand was drying up at higher levels. Bitcoin turned down sharply from the 20-day exponential moving average (EMA) and plunged below the $20,715 support on August 26. The bulls are attempting to push the price back into the range but may face stiff resistance at the breakdown level of $20,715.

If the price turns down from this level, it will suggest that the bears have flipped the level into resistance. That could increase the likelihood of a drop to $18,600 and then to the June 18 intraday low of $17,567.45. The bears will have to sink the price below this crucial support to signal the resumption of the downtrend. Alternatively, if bulls push the price back above $20,715, it will suggest strong demand at lower levels. The moving averages may pose a strong challenge but if bulls overcome this barrier, the pair could attempt a rally to the resistance of the range at $24,666.

A break and close above the $25,000 level will be the first sign that the pair may have bottomed out. Until then, the pair could remain in a bottoming formation.

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

Enjoy the issue!

FEATURING IN THIS WEEKS EDITION

– Medabots
– HoneyWood
– MetaBrewSociety
– Age of Zalmoxis
– indu4.0
– PlutusFi
– Globiance

– HoneyWood
– H2O Securities
– Coinhaven

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

We warned traders in our previous analysis that a shallow rebound off the strong support of $20,715 showed that demand was drying up at higher levels. Bitcoin turned down sharply from the 20-day exponential moving average (EMA) and plunged below the $20,715 support on August 26. Read more

ETHEREUM – ETH/GBP

We mentioned in our previous analysis that the bears are trying to flip the $1,700 level into resistance. That is what happened on August 26 when Ether turned down sharply from $1,700 and plummeted below the 50-day simple moving average (SMA). Read more

 

RIPPLE – XRP/GBP

XRP has been oscillating between $0.29 and $0.38 for the past few days. The bulls tried to push the price above the overhead resistance at $0.38 on August 26 but the long wick on the day’s candlestick shows that the bears are defending the level with vigor Read more

CARDANO/USD

Cardano has been stuck between $0.39 and $0.60 for the past few days. The bulls attempted to push the price above the moving averages on August 26 but the bears held their ground. Read more

BINANCE – BNB/GBP

Buyers pushed Binance Coin above the 20-day EMA on August 25 but the long wick on the day’s candlestick shows strong selling at higher levels. The ETH/USD pair turned down sharply on August 26 and plunged below the 50-day SMA. Read more

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

 

NFT Market Summary August 29, 2022

Notwithstanding the short-term turbulence in the prices of crypto and NFT in the markets, the adoption of NFT among the mainstream continues unabated and new and innovative ways are being thought about and launched every day. Apart from the financial incentives, the key aim remains adoption of these digital assets in the mainstream.

Some of the leading fashion and consumer brands are already making millions of dollars from sale of their respective NFT and many existing social media platforms are exploring new ways to tap into this burgeoning segment and integrate NFT into their core operation.

MetaBrewSociety: A fusion of a beer company and NFT

Introduction

Until the Industrial Revolution, beer was considered as an art, which was full of amazing stories, mysteries and secrets. The brewing process is a culmination of a number of steps and that process impacts the yeast performance and the ultimate quality of the beer. Read more

indu4.0: Revolutionizing the Manufacturing Industry with Blockchain Technology

Since the manufacturing industry is regarded as traditional, digital transformation and the adoption of new technologies describe major obstacles. The variety and complexity of product offers prevent efficient matching of purchasers and suppliers in the market. While the purchasers struggle with high efforts to find capable service providers, suppliers mainly face problems in finding appropriate inquiring customers.

With indu4.0, a global marketplace for the manufacturing industry is created. The tool behind indu4.0 addresses the stated problems and provides a digital business-to-business (B2B) platform that enables efficient, quick and cost-effective matchmaking of supply and demand. But how does the project indu4.0 differentiates itself? Read more

Age of Zalmoxis: Ancient Fantasy Play and Earn Game

An ancient fantasy play-and-earn game set in the Dacian kingdom, Age of Zalmoxis has its roots in European history and lore. In this story-driven game, players explore Southeast European historical periods between the 5th century BC and 6th century AD. Age of Zalmoxis lets players create their own characters and explore a living world. The player’s character grows through combat, narrative content, events, crafting, and dungeons. Contrary to other games, Age of Zalmoxis does not require payment, subscriptions, or pre-paid game cards.

The Age of Zalmoxis social and technological ecosystem is built on Unreal Engine 5 and the Elrond blockchain. The Age of Zalmoxis gives life to the ancient Dacian period. There are a lot of things players can do in this game. Investing in the Age of Zalmoxis ecosystem allows investors to play and earn. Some features of this ecosystem include; Read more