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6TH SEPTEMBER LATEST CRYPTO NEWS DIGITAL MAGAZINE

August’s nonfarm payrolls data offered some relief to traders as the economy added 315,000 jobs for the month, well below the 526,000 in July. It was the lowest monthly gain since April 2021, increasing hopes that the data leaves some scope for the Federal Reserve to soften its aggressive tightening policy.

The CME FedWatch Tool showed a 60% probability of a 75 basis points rate hike for the September 21 meeting, down from 75% on August 29. The Dow Jones Industrial Average initially rallied by 370 points following the jobs report but it later trimmed its gains and closed down by 337.98 points. The Nasdaq Composite extended its losing streak to six consecutive days for the first time since 2019.

Bitcoin has been trading inside a tight range between $19,500 and $20,715 for the past few days. The failure to push the price back above $20,715 indicates that bears are trying to flip this level into resistance.

The downsloping 20-day exponential moving average (EMA) and the relative strength index (RSI) in the negative territory indicate advantage to sellers. If bears sink the price below $19,500, the selling could intensify and the BTC/ USD pair could drop to the next support zone between $18,600 and $17,567.45. The bulls are expected to defend this zone aggressively because a failure to do so could signal the resumption of the downtrend. The pair could then slide to $16,764. Contrary to this assumption, if the price turns up from the current level and breaks above $20,715, it will suggest that bulls are back in the game.

That could push the price to the 50-day simple moving average (SMA). This level may again act as a resistance but if bulls overcome this barrier, the pair could rally to $24,666.

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

Enjoy the issue!

FEATURING IN THIS WEEKS EDITION

– Gauss
– Manilla Finance
– indu4.0
– Age of Zalmoxis
– Globiance
– Medabots
– WeedoVerse

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

Bitcoin has been trading inside a tight range between $19,500 and $20,715 for the past few days. The failure to push the price back above $20,715 indicates that bears are trying to flip this level into resistance. The downsloping 20-day exponential moving average (EMA) and the relative strength index (RSI) in the negative territory indicate advantage to sellers. Read more

ETHEREUM – ETH/GBP

Ether has been clinging to the moving averages for the past few days. Though the bulls failed to push the price above the 50-day SMA, a positive sign is that they have not ceded ground to the bears. The 20-day EMA has flattened out and the RSI has climbed into the positive territory, indicating that the selling pressure could be reducing. The buyers will make one more attempt to push the price above the overhead resistance at $1,700. Read more

RIPPLE – XRP/GBP

XRP has been stuck inside a large range between $0.29 and $0.38 for the past several days. The price action inside a range is usually random and volatile, hence the best time is to buy on a rebound off the support and sell near the resistance.

The XRP/USD pair has been trading below the 20-day EMA for the past few days but the bears have not been able to sink the price to the strong support at $0.29. This suggests a lack of aggressive selling at lower levels. Read more

CARDANO/USD

The bulls pushed Cardano above the 20-day EMA on September 3 and followed that up with another move higher on September 4, which cleared the hurdle at the 50-day SMA.

The bears tried to pull the price back below the moving averages on September 5 but the long tail on the day’s candlestick shows strong buying at lower levels. Read more

BINANCE – BNB/GBP

We mentioned in our previous analysis that bulls will encounter stiff resistance from the bears at the 20-day EMA and that is what happened on August 30 and 31.

But a minor positive is that the bulls did not allow Binance Coin to dip and sustain below the strong support at $276. This suggests that bulls continue to buy on dips. Read more

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

 

Rise of the GameFi economy

Introduction

Although video games have been around for many years, the advent of blockchain technology has proven to be disruptive for the video game industry. The latter has opened up many new possibilities and utilities out of video games. One such benefit is GameFi, which essentially is a fusion of the two words – game and finance.

GameFi usually refers to play-to-earn games that offer economic incentives to the players and uses cryptocurrencies, NFT and blockchain technology to create a virtual gaming environment. In a typical GameFi ecosystem, players can earn in-game rewards by completing certain tasks, battling against other players and progressing through the different levels of the game.  Read more

Gauss: Curated layer one ecosystem, launching Q4 ’22

Gauss is a high-integrity layer one blockchain designed to be a safe harbor amidst the storm of fraud and scams. An oasis in the desert of accountability in the crypto industry. They empower and support projects launching with them, while their curated ecosystem allows its community to interact in a scam-free arena making it the safest blockchain in the space.

There are numerous hurdles we, as an industry, must overcome to reach toward the goal of mass adoption. The existence of Gauss signals to crypto nay-sayers and brands of all sizes that there is a better way. Each brand, having their own identity and audience they have meticulously built, can safely engage with this new technology to explore and grow for years to come. Read more

Manilla Finance to Support Pure Crypto Payments, Prepares to Make a Huge Leap into the Web 3 Space

The developmental team at Manilla Finance has been working around the clock to ensure the project launches per the roadmap. Necessary infrastructure, including a functional website and social media platforms, are available. It is verified that Manilla Finance is raising funds to prepare for the soon TBA launch. 

“We are raising funds at the moment. Owing to the fact that we have almost finished development, a soft cap of $1m is sufficient for us to scale the ecosystem. The hard cap is capped at $8.4m,” explained Rutherford Atayobo, Manilla Finance CEO. The firm comprises an already doxxed team of 12 Web 3 experts. It also has 25 developers spread across West Africa, South Asia and North America. Rutherford who leads the team has been an important part of two successful Web 3 projects called Vanilla Network and a popular metaverse gaming project, Siverse. The application once ready will be launched during the last quarter of 2022 in 44 countries including Canada, United Kingdom and Australia. Read more