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USDT issuer Tether takes a bite into the food industry. As per the latest sources, the stablecoin behemoth has acquired a 9.8% stake in Latin American agricultural giant Adecoagro for $100 million to diversify its farming and food sector investments. Adecoagro is one of Argentina’s largest major milk producers. This is Tether’s first venture into […]
An analyst has explained how Dogecoin has been forming a Falling Wedge pattern recently, breaking which may kickstart a new bull rally. Dogecoin Has Been Moving Inside A Falling Wedge Recently In a new post on X, analyst Ali Martinez has discussed a pattern that has recently been forming in the 1-day price of Dogecoin. The pattern in question is the “Falling Wedge” from technical analysis (TA), which is a type of Wedge. A Wedge pattern appears when the price of the asset consolidates between two converging trendlines (that is, the lines have different slopes and are angled inwards). Depending on where this consolidation is headed, the pattern is termed as Falling or Rising. Related Reading: Why Has Bitcoin Been Bearish Lately? CryptoQuant Head Chimes In In a Falling Wedge, the upper line of the pattern connects lower highs in the price, while the bottom one connects lower lows. Similarly, a Rising Wedge has the upper line joining together higher highs and the lower one with higher lows. Just like other TA consolidation patterns, the upper line may continue to act as a source of resistance in the near future, while the lower one may provide support. Also, a break out of either of these trendlines can suggest a continuation of pattern in that direction. Wedges specifically are considered to be formations that lead to a reversal, so a break in the direction opposite to that of the Wedge may be considered to be more likely. Dogecoin has recently been showing a Wedge-like consolidation towards the downside in recent months, so the coin may be forming a Falling Wedge pattern. Below is the chart shared by Ali that showcases this formation. As is visible in the graph, the Dogecoin price has recently made an apparent retest of the bottom line of this Falling Wedge pattern and has found support at it. Thus, it’s possible that DOGE may now see a surge towards the upper trendline. Before the coin retests the upper line, though, there is perhaps another important level it has to surpass first: the 0.236 Fibonacci Retracement level. Fibonacci Retracement levels are based on ratios that are found in the famous Fibonacci series. These levels correspond to the percentage of drawdown as measured between two fixed levels. In the current case, Ali has taken the top of the Falling Wedge as the start of these levels (that is, the 100% or 1 mark). Related Reading: Bitcoin Momentum Indicators Are All Showing Death Cross: Say Hello To Bear Market? The analyst notes that if Dogecoin can manage a sustained close above the $0.10 level (that is, above the 0.236 Fibonacci Retracement), it may be able to start a rally toward the $0.15 level. From the current price of the memecoin, such a potential run would mean an increase of around 53%. It now remains to be seen how DOGE develops in the coming days and whether it would be able to follow any similar trajectory or not. DOGE Price Dogecoin had fallen under the $0.090 mark a couple of days back, but the asset appears to have rebounded as it has now recovered to $0.098. Featured image from Dall-E, charts from TradingView.com
DOGE lead developer Mishaboar reiterated that the Dogecoin Foundation is an independent organization working to develop solutions for the meme coin ecosystem. He emphasized that it is an independent organization working on solutions for the meme coin ecosystem, not an official entity of the cryptocurrency as reported in some media outlets. Doubling down on the […]
Forbes' blockchain loyalty platform could revolutionize consumer-brand interactions, offering secure, transparent, and versatile rewards.
The post Forbes to roll out new blockchain-powered loyalty platform appeared first on Crypto Briefing.
$PUSO is a community-led decentralized stablecoin pegged to the Philippine Peso on the Celo blockchain.
Ether.fi's integration with Scroll could significantly boost Scroll's TVL and position it as a leading layer-2 network, enhancing crypto's utility.
The post Ether.fi chooses Scroll as its L2 settlement layer, announces crypto-based credit card appeared first on Crypto Briefing.
Tesla/SpaceX centilionaire Elon Musk has once again sparked renewed optimism around the OG meme coin with his recent tweet, which indirectly referenced DOGE. What Was Musks New Tweet? Elon Musk may suggest establishing himself as the head of a new government institution if former Republican Presidential nominee Donald Trump retakes the White House in the […]
CoinShares expects that a 50-basis-point cut is more likely if inflation comes in below expectations in the upcoming inflation report on Sept. 10.
Significant outflows from Bitcoin funds signal growing investor caution and potential market instability amid macroeconomic uncertainties.
The post Bitcoin funds register $643 million in outflows amid record weekly drawdown appeared first on Crypto Briefing.
Fractal's mainnet launch could revolutionize Bitcoin's scalability, fostering a surge in native applications and innovation within the ecosystem.
The post Bitcoin L2 Fractal launches mainnet after attracting 11.5 million unique addresses appeared first on Crypto Briefing.
Binance launches a zero-fee SEPA bank transfer option for EUR deposits to receive EURI, enhancing user experience and compliance with MiCA regulations. (Read More)
The latest on-chain data shows that Litecoin (LTC) whales have been increasingly active in the market in recent weeks. The question is can they push the altcoins price comeback? Litecoin Whale Activity Ignites In a new post on the X platform, on-chain analytics firm Santiment revealed a sustained increase in whale activity on Litecoin. [...]
The post Litecoin Whales On The Move Can They Drive LTC Price Back To $75? appeared first on Crypto Breaking News.
Dogecoin has had its ups and downs in the past seven days: from breaking down below a support at $0.095, to bouncing back up and hitting notable resistance at $0.099. Following this brief rally, Dogecoin experienced another downward shift as the bulls were unable to maintain the momentum. It dropped once again, breaking through several [...]
The post Dogecoin Price Prediction: Extended Consolidation Or A Break Below/Above? appeared first on Crypto Breaking News.
AssemblyAI introduces its C# .NET SDK and releases new tutorials on AI applications, including a Discord voice bot, AI video conferencing app, and scam call detection. (Read More)
This is Tethers first investment in the agriculture and food sector, after investments in artificial intelligence, Bitcoin mining operations, and digital education initiatives.
Stacks hit a record of over 1,400 monthly smart contract deployments ahead of the Nakamoto upgrade, which is set to revolutionize Bitcoin DeFi and scalability.
The crypto market is experiencing a notable shift in liquidity as investors acquire massive amounts of stablecoins due to market uncertainties in the last few months. CryptoQuant analyst with username Percival has provided more insights into this trend of capital rotation. Open Interest In Crypto Market Shrinks As Stablecoins See Liquidity Influx Following a rather [...]
The post Traders Move $4.7 Billion To Stablecoins Amid Crypto Market Uncertainty Details appeared first on Crypto Breaking News.
Tether's move to back a synthetic dollar with gold could enhance stability and transparency in the crypto market, especially amid regulatory scrutiny.
The post Tether uses gold to back new synthetic dollar as gold is less volatile than Bitcoin, says Paolo Ardoino appeared first on Crypto Briefing.
The post Elon Musks Latest Tweet Rescues Dogecoin from Price Crash, Heres How appeared first on Coinpedia Fintech News
On September 7, 2024, Tesla founder Elon Musk saved the price of Dogecoin (DOGE) from crashing amid bearish market sentiment. Due to the significant sell-offs by whales and institutions, the overall cryptocurrency experienced a notable price decline. Elon Musk Saves Dogecoin from CRASHING Amid this selling pressure, DOGE breached its crucial support level of $0.094 …
Dogecoin (DOGE), mm-bsd cryptocurrncy known for its nthusistic community, is crting buzz mong invstors nd trdrs. A rcnt nlysis by th stmd crypto nlyst Mstr Knobi indicts tht DOGE my b on th brink of notbl pric incrs drivn by blnd of tchnicl signls nd pst trnds. Knobis ssssmnt rlis on th […]
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