Ripple

Price analysis 9/12: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

Bitcoin and altcoins are heating up ahead of the long-awaited Ethereum Merge, but do bulls have enough strength to sustain the rally?

The United States equities markets and the cryptocurrency markets have started the new week on a strong footing. This suggests that investors expect the Federal Reserve’s possible 75 basis point rate hike in the Sept. 20 to 21 meeting to be priced in and it also could mean that investors believe inflation has peaked.

Bitcoin’s (BTC) rally above $22,000 cleared the closely watched metric of the realized price, which according to Glassnode is at $21,700. The next major barrier on the upside is the 200-week moving average near $23,330. A break and close above this resistance could indicate that the bear market may be ending.

*Daily cryptocurrency market performance. Source:* *Coin360*

The current bear market has not driven away institutional investors who continue to believe in the long-term prospects of the asset class. One such example was given by Irfan Ahmad, the Asia Pacific digital lead for State Street’s crypto unit State Street Digital, who said that their institutional clients continued to place strategic bets in the cryptocurrency space in June and July.

Could Bitcoin and altcoins continue their up-move in the near term? Let’s study the charts of the top 10 cryptocurrencies to find out.

BTC/USDT

Bitcoin is attempting to form a bottom. Buyers pushed the price above the 20-day exponential moving average (EMA) ($20,831) on Sept. 9 and the 50-day simple moving average (SMA) ($21,944) on Sept. 12. This suggests that the bears may be losing momentum.

If buyers sustain the price above the 50-day SMA, the BTC/USDT pair could attempt a rally to the overhead resistance at $25,211. The bears are expected to defend this level with vigor. If the price turns down from this level, the pair could spend some time inside a large range between $18,626 and $25,211.

During such periods of consolidation, the weaker hands sell their holdings fearing a further fall while the stronger hands buy expecting that a bottom may be close by. This completes the transfer of assets from the weaker hands to the stronger hands. After the accumulation is complete, the asset usually starts a new bull move.

Another possibility is that the price turns down and breaks below the 20-day EMA. If that happens, it will indicate that traders continue to sell on rallies. The pair could then once again revisit the strong support at $18,626.

ETH/USDT

Ether (ETH) broke above the overhead resistance at $1,700 on Sept. 9 but the bulls are facing stiff resistance at $1,800. This indicates that bears have not given up and they continue to sell at higher levels.

The bears will try to pull the price back below the moving averages while the bulls will attempt to defend this support. The 20-day EMA ($1,652) has started to turn up and the RSI is in the positive territory, indicating a minor advantage to buyers.

If the price rebounds off the moving averages and rises above $1,800, the ETH/USDT pair could rally toward the overhead resistance at $2,000. Such a move will suggest that the pair may have bottomed out.

Alternatively, if the price plummets below the moving averages, the advantage could tilt in favor of the bears. The pair could then decline to the neckline.

BNB/USDT

BNB turned up from $258 and climbed back above the neckline of the head and shoulders pattern on Sept. 7. This suggests that the breakdown may have been a bear trap.

The bears tried to stall the recovery at the 20-day EMA ($287) on Sept. 8 but the buyers bulldozed their way through and pushed the price above the moving averages on Sept. 9. The bears pulled the price below the 50-day SMA ($294) on Sept. 11 and 12 but bulls purchased the intraday dip.

Both moving averages are sloping up gradually and the RSI is in the positive zone, indicating an advantage to buyers. If the price turns up from the current level, the BNB/USDT pair could rise to $308, which could again act as a resistance.

Conversely, if the price breaks back below the 20-day, it will suggest that bears continue to sell on rallies. The pair could then drop to the neckline at $275.

XRP/USDT

Ripple’s (XRP) tight range trading between $0.32 and $0.34 resolved to the upside on Sept. 9, and the price reached the 50-day SMA ($0.35) The bears are attempting to stall the recovery at this level but they have not been able to pull the price below the 20-day EMA ($0.34). This suggests strong buying at lower levels.

The 20-day EMA has started to turn up and the RSI is in the positive territory, suggesting advantage to buyers. If the price breaks and sustains above the 50-day SMA, the XRP/USDT pair could rally to $0.37 and later to $0.39. Buyers will have to clear this hurdle to signal a potential trend change.

Instead, if the price turns down from the current level and breaks below $0.34, it will suggest that bears continue to sell on rallies. The pair could then decline to the strong support at $0.32.

ADA/USDT

Cardano (ADA) climbed back above the 20-day EMA ($0.48) on Sept. 7 and the bulls extended the recovery by pushing the price above the 50-day SMA ($0.49) on Sept. 9.

The ADA/USDT pair has been sustaining above the 50-day SMA for the past two days, indicating that traders are not booking profits as they expect the recovery to continue. If bulls push the price above $0.52, the pair could reach the downtrend line. The bears are likely to defend this level aggressively.

If the price turns down from the downtrend line but rebounds off the 20-day EMA, it will suggest that the sentiment has turned positive. That could increase the likelihood of a break above the downtrend line. The pair could then attempt a rally to $0.70. This positive view could invalidate in the near term if the price turns down and slips below $0.45.

SOL/USDT

Solana (SOL) rose above the $32 level on Sept. 7 and buyers built upon this advantage and pushed the price above the 20-day EMA ($34.25) on Sept. 9. The bears tried to pull the price back below the 20-day EMA on Sept. 11 but the bulls successfully defended the level. This indicates that traders are viewing dips as a buying opportunity.

The bulls are attempting to extend the recovery by pushing the price above the 50-day SMA ($37.42) on Sept. 12. If they succeed, the SOL/USDT pair could pick up momentum and rally toward the overhead resistance at $48. This level is likely to act as a strong barrier but if bulls overcome it, the pair could signal the start of a new up-move.

Contrary to this assumption, if the price turns down from the 50-day SMA, the pair could decline to the 20-day EMA. A break and close below this support could sink the pair to $30.

DOGE/USDT

Dogecoin (DOGE) bounced off the support zone near $0.06 on Sept. 7, indicating buying at lower levels. The price reached the 20-day EMA ($0.06) on Sept. 9 but the bulls could not extend the relief rally to the 50-day SMA ($0.07). This suggests that bears are active at higher levels.

Both moving averages have flattened out and the RSI is near the midpoint, indicating a balance between supply and demand. If buyers drive the price above the 50-day SMA, the short-term advantage could tilt in favor of the buyers. The DOGE/USDT pair could then rally to $0.07 and later to the stiff overhead resistance at $0.09.

Conversely, if the price turns down and sustains below the support zone near $0.06, it will suggest that bears are back in command. That could sink the pair to the crucial support at $0.05.

DOT/USDT

Polkadot (DOT) reached the 50-day SMA ($7.88) on Sept. 9 where the bears are mounting a strong resistance. The sellers tried to pull the price back below the 20-day EMA ($7.50) on Sept. 11 but the bulls held their ground.

Buyers pushed the price above the 50-day SMA on Sept. 12 but the long wick on the day’s candlestick suggests that bears are not willing to surrender. The price has been stuck between the moving averages for the past few days but this tight range trading is unlikely to continue for long.

If buyers sustain the price above the 50-day SMA, the DOT/USDT pair could pick up momentum and rally to $9.17 and later to the overhead resistance at $10. On the contrary, if the price breaks below the 20-day EMA, the pair could retest the support at $6.75.

MATIC/USDT

Polygon (MATIC) broke and closed above the moving averages on Sept. 9 but the bulls could not build upon this advantage and push the price above the immediate resistance at $0.92.

A minor positive in favor of the bulls is that they are buying the dips to the moving averages. This suggests that buyers expect the recovery to continue and the MATIC/USDT pair to rally to the overhead resistance at $1.05. A break and close above this level could clear the path for a possible rally to $1.35.

Contrary to this assumption, if the price turns down and breaks below the moving averages, the pair could drop to $0.79 and later to $0.75. The bears will have to sink the price below this level to gain the upper hand.

SHIB/USDT

Shiba Inu (SHIB) broke and closed above the moving averages on Sept. 9 but the long wick on the day’s candlestick shows selling at higher levels. A minor positive is that bulls have not allowed the price to break below the moving averages.

If the price rebounds off the moving averages, buyers will attempt to clear the overhead hurdle at $0.000014. If they succeed, the likelihood of a rally to $0.000018 increases. The bears are expected to defend this level aggressively.

This positive view could invalidate in the near term if the price breaks below the moving averages and the immediate support at $0.000012. If that happens, the SHIB/USDT pair could drop to $0.000010.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Price analysis 9/7: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

Bitcoin and select altcoins have dropped to critical support levels and the strength of the rebound lacks strength, increasing the risk of further downside.

After trading near the $20,000 level for several days, Bitcoin (BTC) turned down sharply and dropped below $19,000 on Sept. 6. The fall was not limited to the cryptocurrency markets as the United States equities markets also closed lower on Sept. 6.

Risky assets have been facing selling pressure in the past few days as investors are worried that the Federal Reserve could continue with its aggressive tightening policy.

The CME FedWatch Tool shows that the probability for a 75 basis point rate hike in the September meeting has risen to 80% from 69% a week back. This extended the rise in the U.S. dollar index (DXY), which closed above 110 on Sept. 6.

The U.S. equities markets and the cryptocurrency markets are attempting a relief rally on Sept. 7 but the recovery is likely to sustain only after the DXY shows signs of topping out.

Although the bear market has been brutal, it is an encouraging sign to see that venture capital firms have continued to plow money into cryptocurrency and blockchain companies. According to a KPMG report released on Sept. 6, the total investments in the first half of 2022 by these firms hit $14.2 billion, which comes after the record $32.1 billion investments made in 2021.

What are the critical overhead resistances in Bitcoin and altcoins that need to be crossed for the bullish momentum to pick up? Let’s study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin’s tight range trading between $19,520 and $20,576 resolved to the downside on Sept. 6. The bears pulled the price to the strong support zone between $18,910 and $18,626.

If the price rebounds off the zone, the BTC/USDT pair could rally to the breakdown level of $19,520. The bears will attempt to flip this level into resistance. If they manage to do that, the likelihood of a break below the support zone increases.

That could sink the pair to the vital support at $17,622. A break and close below this level could signal the resumption of the downtrend. The downsloping 20-day exponential moving average (EMA)($20,427) and the relative strength index (RSI) near the oversold territory indicate that bears are in control.

The first sign of strength will be a break and close above the 20-day EMA. Such a move will indicate that bulls are attempting a comeback.

ETH/USDT

Ether (ETH) rose above the moving averages on Sept. 6 but the bulls could not clear the overhead hurdle at $1,700. The bears sold aggressively and pulled the price back below the 20-day EMA ($1,597).

The bears will try to build upon the advantage and sink the price below the neckline of the head and shoulders (H&S) pattern. If they succeed, the ETH/USDT pair could drop to $1,422 and then to the important support at $1,280. The pattern target of this bearish setup is $1,050.

Alternatively, if the price bounces off the neckline, it will suggest that bulls continue to view dips as a buying opportunity. The pair could then consolidate between the neckline and $1,700 for some time. A break and close above $1,700 could clear the path for a possible rally to $2,030.

BNB/USDT

BNB turned down sharply from the 20-day EMA ($282) on Sept. 6 and broke below the critical support at $275. This completed a bearish H&S pattern.

Generally, after the breakdown from a major support, the price returns to retest the level. In this case, buyers will try to push the price back above $275. If they manage to do that, several aggressive bears may get trapped. That could result in a short squeeze and the BNB/USDT pair could rally to $308.

On the other hand, if the price turns down from $275, it will suggest that bears have flipped the level into resistance. That could start a decline to $240 and if this support also gives way, the next stop could be the pattern target at $212.

XRP/USDT

The bulls pushed XRP above the overhead resistance at $0.34 on Sept. 6 but the bears trapped the aggressive buyers and pulled the price below the immediate support at $0.32.

A minor positive is that the bulls have not allowed the price to sustain below $0.32. The long tail on the Sept. 7 candlestick shows buying at lower levels. If the price sustains above $0.32, the XRP/USDT pair could extend its range-bound action for some more time.

Contrary to this assumption, if the price turns down from the current level and sustains below $0.32, it will clear the path for a possible decline to $0.30. The bulls are likely to defend this level with all their might.

ADA/USDT

Cardano (ADA) closed above the 50-day simple moving average (SMA) (0.49) on Sept. 4 and the bulls defended the level on Sept. 5. Buyers tried to extend the relief rally on Sept. 6 but met with a wall of selling near $0.51.

The price turned down sharply and broke below the moving averages. Both moving averages are flattish and the RSI is just below the midpoint, indicating a range-bound action in the near term. The ADA/USDT pair could oscillate between $0.44 and $0.51 in the next few days.

The bears will have to sink the price below $0.44 to open the doors for a drop to the crucial support at $0.40. Alternatively, if the price turns up from the current level and breaks above $0.51, the pair could rally to the downtrend line.

SOL/USDT

Solana (SOL) rallied to the 20-day EMA ($33) on Sept. 6 but the bulls could not overcome this barrier. This suggests that the sentiment remains negative and traders are selling on rallies.

A minor positive is that the bulls have not allowed the price to dip below the immediate support at $30. If the price turns up from the current level, the bulls will again try to drive the SOL/USDT pair above the 20-day EMA. If they succeed, the pair could rally to the 50-day SMA ($38).

On the contrary, if the price turns down and breaks below $30, the pair could extend its slide to the vital support at $26. The bulls are likely to mount a strong defense at this level because if this support cracks, the pair could resume its downtrend.

DOGE/USDT

The bulls attempted to push Dogecoin (DOGE) above the 20-day EMA ($0.06) on Sept. 6 but the bears sold the rally aggressively and pulled the price below the immediate support at $0.06.

Buyers are attempting to push the price back above $0.06 on Sept. 7. If they succeed, the DOGE/USDT pair could again rally to the overhead resistance at the 20-day EMA. This remains a critical level to watch out for in the near term because a rally above it could push the price to $0.07.

Contrary to this assumption, if the price turns down from $0.06 or the 20-day EMA, it will suggest that bears are selling on rallies. That could increase the possibility of a drop to the strong support at $0.05.

DOT/USDT

Buyers attempted to push Polkadot (DOT) above the moving averages on Sept. 5 and 6 but the bears defended the level aggressively as seen from the long wick on the candlesticks.

The 20-day EMA ($7.38) is sloping down and the RSI is in the negative territory, indicating advantage to sellers. If bears sink and sustain the price below the immediate support at $6.79, the DOT/USDT pair could slip to the crucial support at $6. The bulls are likely to mount a strong defense at this level.

Alternatively, if the price turns up from the current level and rises above the moving averages, it will suggest strong buying on dips. That could push the pair to $9.17 and later to the overhead resistance at $10.

MATIC/USDT

Buyers defended the 50-day SMA ($0.87) on Sept. 5 and attempted to extend the recovery on Sept. 6 but the bears had other plans. They sold aggressively at $0.92 and pulled Polygon (MATIC) back below the moving averages.

The 20-day EMA ($0.85) has started to turn down and the RSI is near 46, indicating that bears have a slight edge. Sellers will attempt to pull the price to the strong support at $0.75.

This is an important support to watch out for because a break and close below it could complete a bearish H&S pattern. If that happens, the MATIC/USDT pair could start a decline to $0.63 and thereafter to the pattern target of $0.45.

This negative view could invalidate in the near term if bulls push the pair above $0.93. The price could then rise to the strong overhead resistance at $1.05.

SHIB/USDT

The bulls purchased the dip in Shiba Inu (SHIB) on Sept. 5 but they could not sustain the price above the 20-day EMA ($0.000013). This indicates that bears are selling on every minor rally.

The 20-day EMA has turned down and the RSI is just below the midpoint, indicating a minor advantage to bears. The sellers will attempt to sink the price to the psychological support at $0.000010 and then to $0.000009. Buyers are expected to defend this support zone with vigor.

Another possibility is that the price turns up from the current level and breaks above the moving averages. Such a move will suggest that selling dries up at lower levels. The SHIB/USDT pair could first rise to $0.000015 and later to $0.000018.

Market data is provided by HitBTC exchange.

Price analysis 9/5: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

Bitcoin and altcoins are holding their immediate support levels, but traders are searching for a trigger to push the market higher.

The cryptocurrency markets have been quiet over the weekend. The sideways price action continues on Sept. 5 and there are unlikely to be any fresh triggers from the United States equities markets, which are closed for Labor Day.

However, the bullish picture for cryptocurrencies looks clouded as the energy crisis in Europe sent the euro to a two-decade low versus the U.S. dollar. Meanwhile, the U.S. dollar index (DXY) which has an inverse correlation with the equities markets and cryptocurrencies soared above 110 for the first time since June 2002.

A positive sign among all the mayhem is that Bitcoin (BTC) has not given up much ground over the past few days and continues to trade near the psychological level of $20,000. This suggests that traders are not panicking and dumping their positions in a hurry.

Could bulls push and sustain Bitcoin above $20,000 and will this trigger buying in altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin has been stuck inside a tight range between $19,520 and $20,576 for the past few days. This indicates indecision among the bulls and the bears. Although bulls are buying the dips, they have failed to clear the overhead resistance.

The downsloping 20-day exponential moving average (EMA) ($20,775) and the relative strength index (RSI) in the negative territory increase the likelihood of a break below $19,520. If that happens, the BTC/USDT pair could drop to the strong support zone between $18,910 and $18,626.

Buyers are expected to defend this zone with all their might. If the rebound breaks above the 20-day EMA, the pair could rise to the 50-day simple moving average (SMA) ($22,253). The bulls will have to clear this hurdle to open the doors for a possible rally to $25,211.

Conversely, if bears sink the price below $18,626, the pair could retest the final support at $17,622. A break below this support could signal the resumption of the downtrend.

ETH/USDT

Ether (ETH) has been stuck between the 20-day EMA ($1,605) and the neckline of the head and shoulders (H&S) pattern since Aug. 31 but this tight-range trading is unlikely to continue for long.

If buyers push and sustain the price above the 20-day EMA, the ETH/USDT pair could rally to the overhead resistance at $1,700. This is an important level to keep an eye on because a break and close above it could signal that bulls are back in control. The pair could then rally to $2,030 and later to the downtrend line.

This bullish view will be invalidated in the near term if the price turns down from the moving averages and breaks below $1,422. If that happens, the pair could slide to $1,280. The bulls are expected to defend this level with vigor but if the bears overpower them, the decline could extend to the pattern target of $1,050.

BNB/USDT

BNB has been trading near the strong support of $275 for the past few days but the bulls have not been able to achieve a strong rebound off it. This indicates a lack of demand at higher levels.

The 20-day EMA ($286) has been sloping down and the RSI is below 41, indicating that bears have the upper hand. If the price breaks and closes below $275, the BNB/USDT pair will complete a bearish head and shoulders pattern. The pair could then start its decline to $240 and later to the pattern target of $212.

Contrary to this assumption, if the price turns up from the current level and breaks above the moving averages, it will suggest that bulls are back in the game. The pair could then rise to the overhead resistance at $308.

XRP/USDT

Ripple (XRP) has been stuck between $0.32 and $0.34 for the past few days but this tight range trading is unlikely to continue for long.

The bears will attempt to sink the price below $0.32. If they succeed, the XRP/USDT pair could extend its decline to the crucial support at $0.30. Buyers are likely to defend this level aggressively as they had done on three previous occasions.

Alternatively, if the price rebounds off $0.32 and breaks above $0.34, it will suggest a short-term advantage to the bulls. The pair could then rise to the 50-day SMA ($0.36) and later to the stiff overhead resistance at $0.39.

ADA/USDT

Cardano (ADA) broke and closed above the 50-day SMA ($0.49) on Sept. 4 but the bulls could not sustain the breakout. This suggests that bears continue to sell on rallies.

The price turned down and broke below the 50-day SMA on Sept. 5, indicating that bears are attempting to trap the aggressive bulls. If the price dips below the 20-day EMA ($0.47), the pair could drop to $0.44 and later to $0.42.

Conversely, if the price rebounds off the 20-day EMA and rises above $0.51, it will suggest a change in sentiment from selling on rallies to buying on dips. The ADA/USDT pair could then rise to the downtrend line.

SOL/USDT

Solana (SOL) has been trading near $32 for the past few days but a negative sign is that buyers have not been able to push and sustain the price above it.

If the price turns down and slips below $30, the SOL/USDT pair could decline to the vital support at $26. This is an important level for the bulls to defend because if this support gives way, the pair could start the next leg of the downtrend.

In the near term, if buyers push the price above the 20-day EMA ($34), it will suggest that the selling pressure could be reducing. The pair could then attempt a rally to the 50-day SMA ($38) where the bears may again pose a strong challenge.

DOGE/USDT

Dogecoin (DOGE) has stayed above the immediate support at $0.06 for the past few days but the bulls have failed to achieve a strong rebound off it. This indicates that demand dries up at higher levels.

A tight consolidation near a support usually results in a breakdown. The downsloping 20-day EMA ($0.06) and the RSI in the negative zone indicate the path of least resistance is to the downside. If bears sink and sustain the price below $0.06, the DOGE/USDT pair could drop to the crucial support at $0.05.

To invalidate this negative view, buyers will have to push and sustain the pair above $0.07. If they manage to do that, the pair could rise toward the overhead resistance at $0.09.

DOT/USDT

Polkadot (DOT) remains stuck inside a large range between $6 and $10 for the past several days. The price has gradually been inching higher and the bulls are attempting to clear the overhead hurdle at the moving averages.

If they manage to do that, it will suggest that lower levels continue to attract buyers. The DOT/USDT pair could then attempt a rally to $9.17 and later to the overhead resistance at $10.

On the other hand, if the price fails to rise above the moving averages, it will suggest that bears are active at higher levels. The sellers will then attempt to sink the price below the strong support at $6.79. If that happens, the pair could drop to the crucial support at $6, which is likely to attract strong buying.

The price action inside a large range is usually random and volatile. Hence, it is difficult to project the short-term price moves inside the range with certainty.

MATIC/USDT

Polygon (MATIC) has been range-bound between $1.05 and $0.75 for the past several days. Although bulls pushed the price above the 50-day SMA ($0.88) on Sept. 1, they have not been able to build upon this strength. This indicates that demand dries up at higher levels.

The bears will attempt to sink the price below the 20-day EMA ($0.85). If they succeed, the MATIC/USDT pair could drop toward the strong support at $0.75.

This is an important level for the bulls to defend because a break and close below it could complete a head and shoulders pattern. The pair could then start a correction to $0.63 and later to the pattern target at $0.45.

On the contrary, if the price rebounds off the moving averages and rises above $0.91, the likelihood of a rally to $1.05 increases. The bears are expected to pose a stiff resistance at this level.

SHIB/USDT

Buyers pushed Shiba Inu (SHIB) above the 20-day EMA ($0.000013) on Sept. 4 but the long wick on the day’s candlestick shows that bears are selling at higher levels.

The price turned down and slipped below the moving averages on Sept. 5. The bears will now try to sink the SHIB/USDT pair to $0.000012, which is likely to attract buyers. The 20-day EMA is flattening out and the RSI is just below the midpoint, indicating a balance between buyers and sellers.

This balance could tilt in favor of the bears if they pull the price below $0.000012. The pair could then decline to $0.000010. Alternatively, if bulls drive and sustain the price above $0.000014, the pair could attempt a rally to $0.000018.

Market data is provided by HitBTC exchange.

NFT NYC 2022: A look inside a massive NFT conference

NFT NYC 2022 was filled with emerging NFT projects and industry experts.

Cointelegraph senior reporter Rachel Wolfson spent a day exploring NFT NYC 2022 to learn about emerging nonfungible token (NFT) projects and how the sector may advance. A recent market report published by Verified Market Research (VMR) predicts that the NFT market could reach a value of $230 billion by 2030. NFT NYC 2022 certainly demonstrated the potential of the NFT sector, highlighting some of the most promising use cases and industry experts.

For instance, Camila Russo, founder of The Defiant and author of The Infinite Machine, told Cointelegraph that NFT products should advance to bring value to holders, whether that comes in the form of community building or funding for new projects.

Cointelegraph also visited offsite houses hosted by Ripple and Doodles. David Schwartz, chief technology officer of Ripple, told Cointelegraph about the advantages and disadvantages of NFT projects, while Julian Holguin, CEO of Doodles, explained the importance of a physical NFT minting experience. Cryptocurrency influencers “Girl Gone Crypto” and “Tech Con Catalina” also shared their thoughts on the advancing NFT ecosystem.

Watch the full video here.

Price analysis 9/2: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

Bitcoin and select altcoins continue to face selling at higher levels, which is proof that investor sentiment remains negative as traders continue to sell on rallies.

Nonfarm payrolls rose by 315,000 jobs in August, down from the July increase of 526,000 jobs. The report was just below the Dow Jones estimate of 318,000 jobs and the slowest monthly gain since April 2021. The S&P 500 rose in response to the report, but later erased its gains, indicating that bears continue to sell on rallies.

That may be because the U.S. dollar index (DXY), which had retreated from its Sept.1 20-year high, recovered part of its losses. The bears will have to pull the DXY lower to boost the prices of stocks and thcryptocurrency markets as both are usually inversely correlated with the dollar index.

Although Bitcoin (BTC) has dropped more than 70% from its all-time high of $69,000, several traders have held on to their position. Data from trading analysis platform TipRanks shows that 62% of wallets have held Bitcoin for a year or more. The number of wallets holding Bitcoin for less than a month is only 6%. This suggests that investors are taking a long-term approach and holding on to their positions.

Could bulls push Bitcoin and altcoins above the overhead resistance levels? Let’s study the charts of the top 10 cryptocurrencies to find out.

BTC/USDT

Bitcoin broke and closed above the downtrend line on Sept. 1, which is the first indication that the short-term corrective phase could be ending.

There is a minor resistance at $20,576 but if bulls thrust the price above it, the BTC/USDT pair could reach the 20-day (EMA)exponential moving average ($21,091).

This is an important level to watch out for because if buyers clear this hurdle, it will suggest that the negative sentiment could be weakening. The BTC/USDT pair could then attempt a rally to the 50-day simple moving average (SMA)($22,318).

Contrary to this assumption, if the price turns down from $20,576 or the 20-day EMA, the bears will make one more attempt to sink the pair to the critical support zone of $18,910 to $18,626. The bulls are expected to defend this zone aggressively.

ETH/USDT

Ether (ETH) turned down from the 20-day EMA ($1,61) on Aug. 31 but a positive sign is that the bulls did not allow the price to dip below the neckline of the head and shoulders (H&S) pattern.

The price bounced off the neckline on Sept. 1 and has risen to the 50-day SMA ($1,640). The bears will try to defend the zone between the 50-day SMA and $1,700 but if bulls overcome this barrier, the ETH/USDT pair could pick up momentum. The pair could then rise to $1,848 and later retest the stiff resistance at $2,030.

Alternatively, if the price turns down from the overhead zone, the pair could again drop to the neckline. If this support breaks down, the pair could drop to $1,422 and then to $1,280. Although the pattern target of a breakdown from the H&S setup is $1,050, the bulls are likely to defend the support at $1,280 vigorously.

BNB/USDT

BinanBNB) turned down from the 20-day EMA ($289) on Aug. 31 and slipped below the strong support at $275 on Sept. 1. However, the long tail on the day’s candlestick shows aggressive buying at lower levels.

The bulls will again attempt to push the price above the 20-day EMA. If they manage to do that, it will be the first sign that the bears may be losing their grip. The BNB/USDT pair could then rally to $308 where the bears may again mount a strong defense.

Conversely, if the price turns down from the current level or the 20-day EMA, it will suggest that the sentiment remains negative and bears are selling on minor rallies.

That will increase the possibility of a break below the support at $275. If that happens, the pair will complete a bearish H&S pattern. The pair could then slide to $240 and later to the pattern target at $212.

XRP/USDT

XRP has been trading between $0.32 and $0.34 since Aug. 28. This tight range trading indicates indecision among the bulls and the bears.

The downsloping 20-day EMA ($0.34) and the RSI below 39 suggest that bears have the upper hand. If the price turns down and breaks below $0.32, the XRP/USDT pair could drop to the important support at $0.30. If this level also gives way, the pair could start the next leg of the downtrend.

This negative view could invalidate in the near term if bulls drive the price above the 20-day EMA. The pair could then rise to the 50-day SMA ($0.36). Such a move will suggest that the pair may continue to consolidate between $0.30 and $0.39 for some more time.

ADA/USDT

Cardano (ADA) has been trading close to the 20-day EMA ($0.47) for the past three days but the bulls have failed to push the price above it. This suggests that the bears are defending the 20-day EMA but a minor positive is that the bulls have not given up much ground.

If the price turns down from the 20-day EMA and breaks below $0.44, the ADA/USDT pair could drop to $0.42. This level may again act as a strong support but if bears sink the price below it, the pair could decline to $0.40.

Contrary to this assumption, if the price breaks above the 20-day EMA, the pair could rise to the 50-day SMA ($0.49). The bulls will have to overcome this barrier to clear the path for a possible rally to the downtrend line.

SOL/USDT

Solana (SOL) has been stuck in a tight range between $30 and $33 since Aug. 27, which indicates indecision among buyers and sellers.

The downsloping 20-day EMA ($34) and the RSI in the negative territory indicate advantage to bears. If sellers sink the price below $30, the SOL/USDT pair could drop to the crucial support at $26. This is an important level to keep an eye on because a break and close below it could signal the resumption of the downtrend.

Alternatively, if the price turns up from the current level and breaks above the 20-day EMA, the pair could rise to the 50-day SMA ($39). Such a move could suggest that the pair may remain stuck between $30 and $48 for a few more days.

DOGE/USDT

Dogecoin (DOGE) once again bounced off the strong support at $0.06 on Sept. 1 but the rebound lacks strength. This suggests the absence of aggressive buying at these levels.

The downsloping 20-day EMA ($0.07) and the RSI in the negative territory indicate advantage to sellers. If the price turns down from the current level or the 20-day EMA, the bears will again attempt to sink the DOGE/USDT pair below $0.06. If they succeed, the pair could slide to the vital support at $0.05.

This negative view will invalidate in the short-term if bulls drive the price above the moving averages. If that happens, the pair could attempt a rally to the overhead resistance at $0.09.

DOT/USDT

Polkadot (DOT) had been stuck inside a tight range between $7.38 and $6.79 for the past few days, indicating indecision among the bulls and the bears.

This balance could tilt in favor of the buyers if they push and sustain the price above the overhead zone between $7.38 and the 50-day SMA ($7.87). The DOT/USDT pair could then start a rally to $9.17 and later to the overhead resistance at $10.

Conversely, if the price turns down from the overhead zone, it will suggest that the sentiment remains negative and traders are selling on rallies. The bears will have to sink the price below $6.79 to gain the upper hand. The pair could then decline to the crucial support at $6.

MATIC/USDT

Polygon (MATIC) broke and closed above the moving averages on Sept. 1. This opens the doors for a possible rally to the overhead resistance at $1.05. The bears are likely to defend this level aggressively.

If the price turns down from $1.05, the MATIC/USDT pair could extend its range-bound action for some more time.

The 20-day EMA ($0.84) is flat but the RSI has jumped into the positive territory, indicating that the momentum favors the buyers. If bulls thrust the price above $1.05, the pair could extend its up-move to $1.19.

Conversely, if the price turns down and breaks below the 20-day EMA, the pair could again drop to $0.75. A break below this support could sink the pair to $0.63.

SHIB/USDT

Shiba Inu (SHIB) turned down from the 20-day EMA ($0.000013) on Aug. 30 and dropped to the important support at $0.000012. This suggests that bears are active at higher levels.

A minor positive is that the bulls did not allow the price to sustain below $0.000012 on Sept.1. The price remains stuck between the 20-day EMA and the $0.000012 support.

If bulls drive the price above the 20-day EMA, the SHIB/USDT pair could rally to the overhead resistance at $0.000014. This level may again act as a stiff hurdle but if bulls overcome it, the rally could extend to $0.000018.

Conversely, if the price once again turns down from the moving averages and breaks below $0.000012, the pair could decline to $0.000010.

Market data is provided by HitBTC exchange.

Ripple’s plan to tokenize Colombian land stalls amid new administration

A joint effort to permanently store and authenticate Colombian property titles on the XRP Ledger looks set to stall as the new government focuses on other priorities.

A partnership between the Colombian government and Ripple Labs to put land titles on the blockchain appears to have stalled following the project being “deprioritized” by the new administration.

The project was initially announced by the outgoing government’s Ministry of Information Technology and Communications just two weeks before the newly elected president Gustavo Petro was sworn into office.

According to an Aug. 30 report from Forbes, the interim director of the National Lands Agency Juan Manuel Noruega Martínez said the project is not part of the agency’s strategic priorities for 2022, stating:

“This isn’t one of the projects defined in the PETI [Strategic Plan for Information Technologies]”

The shift comes as something of a surprise considering Colombia’s new president is thought to be friendly toward cryptocurrencies, and has previously tweeted his support for them.

¿Y que tal que el litoral pacífico aprovechara las caídas de alta pendiente de los rios de la cordillera occidental para producir toda la energía del litoral y reemplazar cocaína con la energía para las criptomonedas?

La moneda virtual es pura información y por tanto energía. https://t.co/65xdN2whuO

— Gustavo Petro (@petrogustavo) October 2, 2021

The partnership, which included Colombia’s National Land Agency, Ripple, and software development firm Peersyst Technology aimed to tokenize real estate on the blockchain to improve property search processes, create transparent and cheaper property title management, and more efficient processing of financing and payments.

Within the peace agreement in 2016 that officially marked the end of the Colombian conflict was a directive to formalize the property titles for small and medium rural properties. According to a 2013 report, only one of every two small farmers has formal rights to their land.

This lack of formality deters farmers from investing in lands and prevents land from being used as collateral when seeking credit. A blockchain ledger for real estate aimed to solve this by providing landowners with security and an incentive to invest in their property.

The registry was launched on Jul. 1 as tweeted by Peersyst Technology, after having been in development for a year.

On Jul. 30, Peersyst tweeted that the first deed had been added to the ledger, with the land certificate looking like any other except for the QR code incorporated into it verifying the certificate on the blockchain. The QR code can be used by anyone to find the property deed’s location on the XRP blockchain.

There have been no further updates relating to the joint project. Cointelegraph has contacted Ripple Labs seeking comment on any progress but has not heard an immediate response.

Ripple’s plan to tokenize Colombian land stalls amid new administration

A joint effort to permanently store and authenticate Colombian property titles on the XRP Ledger looks set to stall as the new government focuses on other priorities.

A partnership between the Colombian government and Ripple Labs to put land titles on the blockchain appears to have stalled following the project being “deprioritized” by the new administration.

According to a Wednesday report from Forbes, the interim director of the National Lands Agency, Juan Manuel Noruega Martínez, said the project is not part of the agency’s strategic priorities for 2022, stating:

“This isn’t one of the projects defined in the PETI [Strategic Plan for Information Technologies]”

The shift comes as something of a surprise, considering Colombia’s new president is thought to be friendly toward cryptocurrencies and has previously tweeted his support for them.

¿Y que tal que el litoral pacífico aprovechara las caídas de alta pendiente de los rios de la cordillera occidental para producir toda la energía del litoral y reemplazar cocaína con la energía para las criptomonedas?

La moneda virtual es pura información y por tanto energía. https://t.co/65xdN2whuO

— Gustavo Petro (@petrogustavo) October 2, 2021

The partnership, which included Colombia’s National Land Agency, Ripple and software development firm Peersyst Technology, aimed to tokenize real estate on the blockchain to improve property search processes, create transparent and cheaper property title management and more efficient processing of financing and payments.

The registry was launched on July 1, as tweeted by Peersyst Technology, after having been in development for a year.

On July 30, Peersyst tweeted that the first deed had been added to the ledger, with the land certificate looking like any other except for the QR code incorporated into it verifying the certificate on the blockchain. The QR code can be used by anyone to find the property deed’s location on the XRP blockchain.

There have been no further updates relating to the joint project. Cointelegraph has contacted Ripple Labs seeking comment on any progress but has not heard an immediate response.

Price analysis 8/31: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

Bitcoin’s technical setup leans toward an additional downside, leading some traders to exit altcoins, which are struggling at overhead resistance levels.

Bitcoin (BTC) price has been trying to change course while the S&P 500 is still giving up gains on a daily basis. Even though the United States equities markets have been grinding lower since Aug. 26, Bitcoin has managed to hold on to the $20,000 mark.

However, investor interest seems to be shifting away from Bitcoin. That has led to a reduction in assets under management (AUM) for Bitcoin investment products, which dropped 7.16% in August to $17.4 billion, according to a new report by CryptoCompare.

In comparison, the AUM for Ethereum products increased 2.36% to $6.81 billion during the same period, indicating that investors are positioning themselves in Ethereum products ahead of the Merge.

Even though prices are down across the ecosystem, bear markets at least offer attractive opportunities to long-term investors. To capitalize on this opportunity, Reddit co-founder Alexis Ohanian’s venture capital firm Seven Seven Six is aiming to raise $177.6 million for a crypto investment fund. On similar lines, former executives from Galaxy Digital and Genesis are looking to raise a $500 million fund.

Although the near term looks uncertain, long-term investors may be looking for bottom fishing opportunities. Could Bitcoin and major altcoins stay above their immediate support levels? Let’s study the charts of the top 10 cryptocurrencies to find out.

BTC/USDT

Bitcoin turned down from the downtrend line on Aug. 30 but a minor positive is that the bulls purchased the dip near $19,500. The bulls are again trying to push the price above the downtrend line on Aug. 31.

If they succeed, the BTC/USDT pair could rally to the 20-day exponential moving average (EMA) ($21,325), which is an important level to keep an eye on. If the price turns down from this level, the bears will attempt to pull the pair to the strong support zone of $18,910 to $18,626. A break and close below this zone could open the doors for a retest of the critical support at $17,622.

Conversely, if bulls push the price above the 20-day EMA, the pair could rise to the 50-day simple moving average (SMA) ($22,333). If bulls clear this hurdle, the pair could pick up momentum and rally toward the overhead resistance at $25,211. The bulls have to overcome this barrier to indicate that the bottom may be in place.

ETH/USDT

Ether (ETH) turned up from $1,422 on Aug. 29 and climbed back above the neckline of the head and shoulders pattern. This suggests that the breakdown on Aug. 26 may have been a bear trap.

The bulls are attempting to push the price above the moving averages. If they succeed, the ETH/USDT pair could rise to the overhead resistance at $1,700. This is an important level to keep an eye on because a break and close above it could open the doors for a possible rally to $2,000.

This bullish view will be invalidated if the price turns down from the overhead resistance and breaks below $1,422. Such a move will suggest that the recovery may be over. The pair could then decline to $1,280 and later to $1,050.

BNB/USDT

BNB bounced off the strong support at $275 on Aug. 29, indicating that the bulls are defending this level aggressively.

The bulls attempted to push the price above the 20-day EMA ($292) on Aug. 30 and 31 but the bears held their ground. If the price breaks and closes below the $275 support, the BNB/USDT pair will complete a bearish head and shoulders pattern. That could start a decline to $240 and later to the pattern target at $212.

On the contrary, if the price rebounds off $275 and breaks above the 20-day EMA, the pair could rise to $308. A break and close above this resistance could clear the path for a rally to $338.

XRP/USDT

Buyers have been defending the $0.32 level for the past three days but have failed to achieve a strong rebound. This suggests a lack of demand for Ripple (XRP) at higher levels.

The downsloping 20-day EMA ($0.34) and the relative strength index (RSI) in the negative territory indicate that bears have a slight edge. If the price turns down from the current level or the 20-day EMA and breaks below $0.32, the XRP/USDT pair could slide to the vital support at $0.30.

The bulls are expected to defend this level with all their might because a break below this support could signal the resumption of the downtrend. Conversely, if bulls drive the price above the moving averages, the pair may rally to $0.39.

ADA/USDT

Cardano (ADA) bounced off $0.42 on Aug. 29 and reached the 20-day EMA ($0.47) where the bears are mounting a stiff resistance.

If the price turns down from the current level, it will suggest that bears continue to sell on minor rallies. The bears will then try to sink the price to the crucial support at $0.40. This is an important level to keep an eye on because a break and close below it could signal the start of the next leg of the downtrend.

On the other hand, if buyers thrust the price above the moving averages, it will suggest strong demand at lower levels. The ADA/USDT pair could then rally to the downtrend line.

SOL/USDT

Solana (SOL) rebounded off $30 and rose above the $32 level on Aug. 29 but the bears again pulled the price back below the level on Aug. 30. This suggests that bears are selling on every minor rise.

The bulls are again trying to push the price to the 20-day EMA ($35), which is an important level to watch out for in the short term. If bulls drive the price above this level, the SOL/USDT pair could rise to the 50-day SMA ($39).

The downsloping 20-day EMA and the RSI in the negative territory indicate advantage to sellers. If the price turns down from the current level or the 20-day EMA and breaks below $30, the pair could drop to the crucial support at $26.

DOGE/USDT

The bulls successfully defended the support at $0.06 in the past few days but have failed to achieve a strong rebound off it. This suggests a lack of demand for Dogecoin (DOGE) at higher levels.

A tight consolidation near a strong support increases the possibility of a breakdown. If that happens, the DOGE/USDT pair could start its downward move toward the June 18 low near $0.05. This is an important level for the bulls to defend because a break and close below it could resume the downtrend.

Conversely, if the price rises from the current level and breaks above the moving averages, it will suggest that the latest leg of the corrective phase may be over. The pair could then attempt a rally to $0.09.

DOT/USDT

Polkadot (DOT) has been trading below the moving averages since Aug. 19 but the bears have not been able to sink the price to the strong support at $6. This suggests that selling dries up at lower levels.

The bulls will again try to push the price above the moving averages. If they succeed, it will suggest that the DOT/USDT pair could rally to $9.17 and then to the overhead resistance at $10. The bears are likely to mount a strong defense at this level.

Another possibility is that the price turns down from the moving averages and breaks below $6.79. If that happens, the bears will try to sink the pair to the crucial support of $6. A break and close below this level could indicate the resumption of the downtrend.

MATIC/USDT

Polygon (MATIC) rebounded off the $0.75 support on Aug. 29 and reached the 20-day EMA ($0.83) on Aug. 30 but the Doji candlestick pattern indicates indecision among buyers and sellers.

If bulls drive and sustain the price above the moving averages, the MATIC/USDT pair could start its northward march toward the overhead resistance at $1.05. This level is again likely to face stiff resistance from the bears.

Contrary to this assumption, if the price turns down from the moving averages, it will suggest that bears are defending the level vigorously. The pair could then again decline toward the strong support of $0.75. If this support cracks, the pair could drop to $0.63.

SHIB/USDT

Shiba Inu (SHIB) climbed back above the important level of $0.000012 on Aug. 29, indicating that bulls are buying on dips. Buyers tried to push the price above the 20-day EMA ($0.000013) on Aug. 30 but the bears did not relent.

The price is stuck between the 20-day EMA and $0.000012. This tight-range trading is unlikely to continue for long. If bears sink and sustain the price below $0.000012, the SHIB/USDT pair could drop to $0.000010.

Alternatively, if the price breaks above the 20-day EMA, the pair could rally to the overhead resistance at $0.000014. The bulls have to overcome this barrier to open the doors for a possible rally to $0.000018.

Market data is provided by HitBTC exchange.

Price analysis 8/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC

Bitcoin bulls are fighting to hold the $20,000 level and several altcoins have seized upon the range-bound trading by rallying up to 10%.

The United States equities markets are attempting to stabilize after the carnage on Aug. 26. On similar lines, Bitcoin (BTC) is also witnessing a see-saw battle near the psychological level of $20,000 with both the bulls and the bears vying for supremacy.

Although several analysts are bearish on Bitcoin in the near term, it has not stopped the whales from accumulating at lower levels. Data from on-chain research firm Santiment shows that the number of whale addresses holding between 100 to 10,000 Bitcoin has risen by 103 in the past 30 days.

In bear markets, rumors spread fast and could result in quick declines, but many times, the fears are unfounded. Mt. Gox creditors confirmed on Twitter that the rumor of a 137,000 Bitcoin dump spread on social media was false. The creditors said that the infrastructure needed to start the repayment was still notin place.

Could Bitcoin and major altcoins sustain the rebound? Let’s study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin closed below the psychological level of $20,000 on Aug. 28 but the bears could not build upon their advantage. Buyers have pushed the price back above $20,000 on Aug. 29, which shows strong demand at lower levels.

The BTC/USDT pair could rise to the 20-day exponential moving average (EMA) ($21,620), which is an important level to keep an eye on. If bulls push the price above this resistance, it could signal that the bearish momentum is weakening. A break and close above the moving averages could open the doors for a possible rally to $25,211.

Alternatively, if the price turns down from the downtrend line or the moving averages, it will suggest that bears are selling on every minor rise. The pair could then decline to the strong support zone of $18,910 to $18,626. The bulls are expected to defend this zone with all their might because if the support cracks, the pair could drop to the June low at $17,622.

ETH/USDT

Ether (ETH) turned down from the 20-day EMA ($1,638) on Aug. 26 and broke below the neckline of the head and shoulders pattern. This completed the bearish setup, indicating that the sellers are in control.

However, the bears could not sustain the price below the neckline, indicating buying on dips. The bulls are attempting to push and sustain the price above the neckline and challenge the overhead resistance at $1,700. If they succeed, the ETH/USDT pair could rally to the psychological level of $2,000.

Conversely, if the price turns down from the current level or the moving averages, it will suggest that bears are active at higher levels. If the price turns down and breaks below the neckline, the pair could drop to the strong support at $1,280. The bulls are expected to defend this level aggressively but if they fail to do that, the pair could plunge to $1,050.

BNB/USDT

The failure of the bulls to sustain the price above the 20-day EMA ($293) on Aug. 25 attracted heavy selling. BNB turned down sharply on Aug. 26 and broke below the 50-day simple moving average (SMA) ($284).

A minor positive is that the bulls did not allow the price to sustain below the strong support at $275. The buyers are attempting to push the price above the 50-day SMA.

If they succeed, the BNB/USDT pair could rally to the 20-day EMA where the bears may pose a strong challenge. The bulls will have to push the pair above $308 to open the doors for a possible rally to $338.

Conversely, if the price turns down from the moving average and breaks below $275, it will complete a head and shoulders pattern. This negative setup could start a decline to $240 and then to the target objective at $212.

XRP/USDT

The bulls failed to sustain Ripple (XRP) above the moving averages on Aug. 26, indicating that the breakout may have been a bull trap. That intensified selling and the bears are attempting to pull the price to the strong support at $0.30.

Buyers are likely to defend the $0.30 support aggressively because if the support cracks, the XRP/USDT pair could start the next leg of the downtrend. The pair could then decline to $0.25 and later to the pattern target of $0.21.

Alternatively, if the price rebounds off $0.30 with strength, it will indicate strong demand at lower levels. The bulls will then again attempt to push the price above the moving averages. If they can pull it off, the pair could rally to the strong overhead resistance at $0.39.

ADA/USDT

Cardano (ADA) continues to gradually slide toward strong support at $0.40. The bulls have bought the dips to this level on two previous occasions; hence, it may again attract buyers.

The bulls are attempting to push the price above the moving averages. If they succeed, the ADA/USDT pair could rally to the downtrend line and later attempt an up-move to the $0.70 to $0.74 resistance zone.

On the other hand, if the price once again turns down from the moving averages, it will suggest a lack of demand at higher levels. The bears will then try to sink the price below $0.40 and resume the downtrend.

SOL/USDT

Solana (SOL) broke and closed below the strong support at $32 on Aug. 26, indicating that the range has broken down in favor of the bears.

The bulls are attempting to push the price back above the breakdown level of $32. If they succeed, the SOL/USDT pair could rise to the 20-day EMA ($36). This is an important level to keep an eye on because a break and close above it could increase the possibility of the pair remaining inside the $32 to $48 range for a few more days.

Conversely, if the price turns down from the current level or the 20-day EMA, it will suggest that bears are in control. The pair could then decline to the vital support at $26. A break and close below this level could indicate the start of the next leg of the downtrend.

DOGE/USDT

Dogecoin (DOGE) broke and closed below the trendline of the ascending triangle pattern on Aug. 26, which invalidated the bullish setup. The price has dropped to the immediate support at $0.06.

If the price rebounds off the current level, it will suggest that bulls may be accumulating on dips. The buyers will then again try to push the price above the moving averages. If they manage to do that, the DOGE/USDT pair could rally to $0.08. A break and close above this level will be the first sign that the bears may be losing their grip.

Alternatively, if the price breaks below $0.06, the selling could intensify and the pair could drop to the critical support at $0.05. The bulls are likely to defend this support with all their might because if the level cracks, the pair could resume its downtrend.

DOT/USDT

Polkadot (DOT) remains stuck inside the large range between $10 and $6. The downsloping 20-day EMA ($7.68) and the RSI in the negative territory indicate an advantage to bears.

The bulls are attempting to push the price above the moving averages. If they manage to do that, the DOT/USDT pair could rally toward $9.17 and then to the overhead resistance at $10.

On the contrary, if the price once again turns down from the moving averages, it will suggest that bears are selling on rallies. The pair could then decline to the crucial support at $6. The bears will have to sink and sustain the price below this level to suggest the start of the next leg of the downtrend.

SHIB/USDT

Shiba Inu (SHIB) broke and closed below the immediate support at $0.000012 on Aug. 28 but the bears could not build upon the advantage. This suggests that bulls are buying on dips.

If buyers sustain the price above the 50-day SMA ($0.000012), the SHIB/USDT pair could attempt a rally to the overhead resistance at $0.000014. If the price turns down from this level, the SHIB/USDT pair could remain stuck between $0.000012 and $0.000014 for some time.

If bulls thrust and sustain the price above $0.000014, the pair could rally to the stiff resistance of $0.000018. This bullish view will invalidate in the near term if the price turns down and plummets below the Aug. 28 intraday low.

MATIC/USDT

Polygon’s (MATIC) rebound met with stiff resistance at the 20-day EMA ($0.83) on Aug. 28, indicating that bears are defending the level aggressively.

The MATIC/USDT pair bounced off the strong support at $0.75 on Aug. 29, indicating that the bulls are buying the dips to the support of the range. The pair is stuck between the 20-day EMA and $0.75 but this tight-range trading is unlikely to continue for long.

If buyers drive the price above the moving averages, the pair could rally to the overhead resistance at $1.05 where the bears may again pose a strong challenge. Alternatively, if the price plummets below $0.75, the pair could decline to the strong support at $0.63.

Market data is provided by HitBTC exchange.

Ripple CEO comments on Crypto Leaks, denies funding law firm to target others

Kyle Roche allegedly approached Ripple’s CEO to invest in a law firm that would target competitor firms with lawsuits like those Ripple was facing in the United States.

Ripple CEO Brad Garlinghouse took to Twitter to deny recent explosive claims made by Crypto Leaks, an online publication focusing on corruption and fraud-related news in the crypto ecosystem.

Crypto Leaks published a report on Friday containing a series of short videos from an unknown source. The report claimed that Ava Labs formed a secret pact with the law firm to use the American legal system “gangster style” to “attack and harm crypto organizations.”

The same report also alleged that Ripple CEO Brad Garlinghouse funded a law firm to target competitor firms. The report claimed Roche, who founded Roche Freedman, was working with Boies Schiller Flexner, a firm that was representing Ripple in its lawsuit against the United States Securities and Exchange Commission (SEC).

Roche allegedly approached Garlinghouse to invest in a law firm that would target competitor crypto firms with lawsuits quite similar to what Ripple was facing at the time. And Kyle claimed that Garlinhouse agreed to his proposal.

“For whatever reasons Brad Garlinghouse invested in Kyle Roche and supported him on his current path, it certainly didn’t save him from the SEC.”

ThRipple CEO took to Twitter to deny any such allegations and claimed that he has “never met or spoken to (much less invested in) Kyle Roche. “

Can’t comment on the validity of the slew of allegations in here, but I can unequivocally say that I have never met or spoken to (much less invested in) Kyle Roche. https://t.co/s5Qu91AV2Z pic.twitter.com/DjLZ0eSdbe

— Brad Garlinghouse (@bgarlinghouse) August 29, 2022

Crypto Leaks’ recent slew of allegations against Ava Labs and Brad Garlinghouse created quite a buzz in the crypto industry as both the CEOs of the firm have denied any allegiance to Kyle Roche and his law firm.

Ripple and the XRP community were quick to come to the defense of the company’s CEO, where one user pointed toward the flaw in the argument put forward by Crypto Leaks. The user wrote the claims were based on Kyle’s comments, which were later presented as facts without proof.

“According to Kyle” pic.twitter.com/avIqcZRnNz

— Kevin Smith (@KJS_Brainstorm) August 29, 2022

While Garlinghouse denied investing in a law firm that targets competitors, Ripple’s co-founder and executive chairman Chris Larsen was infamously involved in the campaign to change the code of Bitcoin.