Hot Market News
🔴 Decentraland price has lost 7% of market value in the last three days. A deeper pullback could occur targeting $0.54. A breach above the recent swing high at $0.84 would invalidate the bearish thesis. Source: fxstreet.com
🔥 🔴 Bitcoin price could test $20,000 again. Bitcoin price shows a distributive pattern on the four-hour chart, hinting at a trend reversal. Shorting BTC on a minor pullback to $23,215 is a good place to start, with $21,269 as the target. Invalidation of this bearish outlook will occur on a four-hour candlestick close above $23,373. Source: fxstreet.com
⚪️ Ethereum corrected lower and tested $1,600 against the US Dollar. ETH is holding the $1,610 support and might attempt a fresh increase. There is a major bearish trend line forming with resistance near $1,640 on the hourly chart of ETH/USD. The pair could start another increase if it stays above the $1,600 support zone. Source: newsbtc.com
🔴 XRP price declines 3% over the last 24 hours as the altcoin fails to tag immediate support at $0.396. Ripple CTO David Schwartz stated the XRP buyback proposal “looks an awful lot like a scam to me”. Since then the altcoin has executed a technical Golden Cross pattern on the daily chart, increasing the chances of recovery. Source: fxstreet.com
🟢 Shiba Inu bulls pushed the meme coin’s price higher as the total value locked on ShibaSwap doubled since November. SHIB and BONE prices increased nearly 30% over the past week as Shiba Inu holders and community members await the launch of layer-2 scaling solution Shibarium. Multiple developments in the Shiba Inu ecosystem and spike in burn rate have fueled a bullish narrative among SHIB holders. Source: fxstreet.com
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