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27TH SEPTEMBER LATEST CRYPTO NEWS DIGITAL MAGAZINE

Risky assets have been on a sticky wicket since the Federal Reserve hiked rates by 75 basis points for the third time in a row on September 21. While the rate hike in itself was not a surprise, the Fed dot plots projecting a possible Fed funds rate of up to 4.4% by the end of 2022 was more aggressive than what investors had penciled in.

This started a sell-off in the United States equities markets which has pulled the Dow Jones Industrial Average into bear market territory and the S&P 500 to its lowest weekly close in 2022. The equities markets seem to be pricing in a recession due to the aggressive rate hikes by the Fed.

The Fed’s actions have resulted in a massive bull run for the US dollar index (DXY), which is not showing any signs of slowing down. That has already sent the euro to below parity with the dollar and the British pound is also threatening to follow suit. Aggressive tax cuts by the new government led by Prime Minister Liz Truss and reluctance to raise rates by the Bank of England sent the pound tumbling to an all-time low below 1.04 against the dollar on September 26.

We said in our previous analysis that Bitcoin could retest the $18,600 to $17,567.45 support zone but the bulls will defend it aggressively and that is what happened.

The BTC/USD pair dropped and closed below the immediate support of $18,600 on September 21 but the bears could not build upon this advantage. Buyers quickly pushed the price back above $18,600 on September 22. This shows strong buying at lower levels.

The bulls again held the support on September 25 and started a rebound on September 26. The pair picked up momentum on September 27 and has risen above the 20-day exponential moving average (EMA). This is the first sign that the bears may be losing their grip. The pair could next rise to the 50-day simple moving average (SMA).

The zone between the 50-day SMA and $22,800 is likely to pose a strong challenge for the bulls. If the price turns down from this zone, the pair could stay range-bound between $18,000 and $22,800 for a few days.

Conversely, if bulls thrust the price above $22,800, the pair could pick up momentum and rally to the overhead resistance of $25,000. This positive view could invalidate if the price plummets below $17,567.

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

Enjoy the issue!

FEATURING IN THIS WEEKS EDITION

– XRPayNet
– Manilla Finance
– Gauss
– Medabots
– MetaFrames

– Cardalonia
– Age of Zalmoxis
– indu4.0

CRYPTO TRADE OPPORTUNITIES

BITCOIN – BTC/GBP

We said in our previous analysis that Bitcoin could retest the $18,600 to $17,567.45 support zone but the bulls will defend it aggressively and that is what happened. The BTC/USD pair dropped and closed below the immediate support of $18,600 on September 21 but the bears could not build upon this advantage. Buyers quickly pushed the price back above $18,600 on September 22. This shows strong buying at lower levels. Read more

ETHEREUM – ETH/GBP

Ether dropped below the $1,280 support on September 21 but the bears could not sustain the lower levels. The bulls purchased the dip aggressively and pushed the price back above $1,280 on September 22. The bulls thwarted one more attempt by the bears to sink the price below $1,280 on September 25. This started a strong recovery which has pushed the ETH/USD pair to the 20-day EMA. Read more

RIPPLE – XRP/GBP

We stated in our previous analysis that if the price remains stuck between the moving averages and $0.40, the possibility of a break above the range will increase and that is what happened on September 20.

We had also projected a rally to $0.51 which was met on September 23 but the next target of $0.65 could not be achieved as the XRP/USD pair turned down from $0.56. Read more

CARDANO/USD

Cardano dropped to the immediate support of $0.42 on September 21 but the bulls defended the level successfully. That started a rebound on September 22 which turned down from the 50-day SMA on September 23.

The price action of the past few days has formed a descending triangle pattern, which will complete on a break and close below $0.42. If that happens, the ADA/USD pair could drop to $0.39 and if this level also cracks, the pair could plummet to $0.33. Read more

BINANCE – BNB/GBP

The bears tried to sink Binance Coin below the strong support at $256.70 on September 19 but the long tail on the day’s candlestick shows strong buying at lower levels. Although the bears continued to defend the 20-day EMA, they could not pull the price below $256.70.

The 20-day EMA has flattened out and the relative strength index (RSI) has jumped into positive territory indicating that bulls are attempting a comeback. Buyers have pushed the price above the 20-day EMA on September 27 and will challenge the 50-day SMA. Read more

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NFT Market Summary September 26, 2022

Introduction

The crypto and NFT market got a huge boost in the past two years and grabbed the mainstream attentionit needed. However, sentiments turned in the opposite direction from the start of the year 2022, as prices of cryptocurrency and NFT plummeted from the highs.

However, despite the enormous losses suffered by NFT investors following the ongoing bear market, the NFT ecosystem showed sustainable signs of a comeback in the past two weeks. NFT artists, who can no longer count on a frothy crypto market to buoy sales are not giving up but they are having to lower their financial expectations and get more creative. Read more

Digital Money Global: Bridging the Gap between Traditional Money Solutions, Crypto-currencies, and Fiat

Digital Money Global (DMGlobal), a blockchain-powered decentralized platform, is building a revolutionary payment ecosystem that will feature a balanced mix of traditional financial solutions, cryptocurrencies, and fiat.

Launched in July 2020, the team has achieved over 70% of the project milestones and is currently focused on an ongoing XCO (Extended Coin Offering). Coupled with a fully doxxed executive team, DMGlobal credibility is unquestionable. Read more