Crypto News

Analysts called the market move "a corrective pullback within an uptrend," ahead of Thursday’s Jackson Hole Economic Symposium.Source link

SUI trades at $3.55 after institutional partnerships with Sygnum Bank and potential ETF approval create mixed signals for traders. (Read More)Source link

The cryptocurrency industry is mobilizing in Brazil to shut down the Provisional Measure that expands the crypto income tax for all users. Analysts agree that if enacted, this measure would hinder adoption and divert crypto activity to decentralized platforms. Brazil Faces Crypto’s Breaking Point With Generalization of Crypto Income Tax The cryptocurrency industry in BrazilSource link

This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.Bitcoin (BTC) remains susceptible to further downside, having lost over 7% since hitting record highs above $124,000 on Thursday.Bullish momentum fadingThe weekly chart (candlestick format) shows that BTC's ongoing decline follows repeated bull failure to secure a foothold above $122,056, the Fibonacci golden ratio. It also marked the inability to keep gains above the significant long-term resistance trendline that connects the bull market highs of 2017 and 2021.Additionally, the weekly stochastic oscillator has rolled over from the overbought zone above 80, signaling a potential correction ahead.Daily chartOn the daily chart, BTC’s latest candle has broken below the bullish trendline extending from April lows, following Friday’s bearish outside-day...

XLM trades at $0.40 after a 6.4% daily decline, showing mixed signals as recent protocol upgrades clash with short-term bearish momentum in the crypto market. (Read More)Source link