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Fable Of The Dragon: A Pioneering Blend of Blockchain InnovationIntroduction: In the rapidly evolving world of cryptocurrencies, unique projects often stand out due to their innovative nature and commitment to societal impact. One such project is "Fable Of The Dragon," which not only leverages blockchain technology for security and transparency but also aims to contribute significantly to anti-aging research and community building. This initiative reflects a thoughtful integration of technology with philanthropic goals, driven by the $TYRANT token. Soulbound Tokens (SBTs) "Fable Of The Dragon" is distinguished by its use of Soulbound Tokens (SBTs). These digital tokens are a novel concept in the blockchain space, representing non-transferable assets that signify an individual's achievements, interests, and identity. Unlike traditional tokens, SBTs cannot be traded, making them a personal and permanent fixture in a user's digital portfolio. This attribute enhances the security of digital identities and provides a new layer of interaction within the blockchain community. The project's ecosystem also includes an engaging digital marketplace where these unique tokens can be showcased and celebrated. This platform not only fosters a sense of community among participants but also allows them to contribute to charitable causes effectively. The Gaming Experience: An integral part of "Fable Of The Dragon" is the "Legend of Fantasy War" game, which offers an immersive experience where players can engage in adventures, customize characters, and participate in narrative-driven events. The game is designed to reward players with SBTs for their achievements, further promoting the concept of digital identity and community within the ecosystem. Security Measures: The security framework of "Fable Of The Dragon" is robust, incorporating advanced blockchain technologies to safeguard user data and assets. The project employs a unique approach by integrating Soulbound NFTs into its security measures, ensuring that each digital asset is securely linked to its owner's identity. Additionally, the $TYRANT token operates on a 0% tax policy, minimizing potential vulnerabilities associated with transaction fees. Market Performance and Tokenomics: The $TYRANT token is not only a medium of exchange within the ecosystem but also a symbol of the project's broader goals. It facilitates transactions across the platform, including the trading of NFTs and participation in the digital marketplace. The token's design is aimed at simplifying transactions while ensuring security and fostering a user-friendly experience. Technical Outlook The $TYRANT token is currently trading at $0.0531, showing signs of stabilization after a prolonged downtrend. Several key technical indicators suggest a potential shift in momentum. The token is hovering around a significant support level at $0.05, which has held firmly in recent sessions. If this level continues to act as support, it could provide a foundation for a further upward move. Immediate resistance is located around the $0.087 mark, which coincides with the 200-day Moving Average (MA). A breakout above this point would be a bullish signal, potentially leading to further gains. Shorter-term resistance can be observed near the 50-day MA at $0.0463. - Moving Averages: - The 50-day MA is at $0.0463, and the price has managed to stay above it, indicating short-term upward momentum. - The 200-day MA sits at $0.0874, which may act as a stronger resistance if the price continues to rise. The MACD indicator is currently signaling a potential bullish crossover, with the MACD line crossing above the signal line. This could indicate that bullish momentum is starting to build. The Relative Strength Index (RSI) is currently at 59, suggesting that the token is in a neutral zone. A move toward 60 would indicate increased buying pressure and could be a sign of further upside potential. - Cup and Handle Pattern: A potential cup and handle pattern is forming on the daily chart, which is a classic bullish setup. The "cup" has formed over a longer period with a rounded bottom, while the "handle" is currently developing. This pattern typically signals an upward breakout if confirmed by rising volume and a price surge above resistance. Overall, $TYRANT is showing early signs of recovery, and traders should watch for a potential breakout above the $0.087 resistance level. A break above this key resistance would likely confirm a reversal from its prolonged downtrend. However, failure to maintain the $0.05 support could signal further downside risk. Conclusion: "Fable Of The Dragon" stands out in the blockchain community for its innovative use of technology to build a secure and engaging ecosystem. The project's focus on creating meaningful social impact, coupled with its commitment to enhancing digital identity security, sets a new standard for what blockchain technology can achieve. As the project continues to evolve, it offers a promising model for how technology can be harnessed to benefit society at large. Whether you are a gamer, a crypto enthusiast, or a philanthropist, "Fable Of The Dragon" offers a unique opportunity to be part of a revolutionary project that bridges the gap between technology and social good.
UNISWAP:TYRANTWETH_3AF73B.USDLong
by DEXWireNews
ETH Ethereum Potential Rally soon!I told you about the 'buy the rumor, sell the news' strategy on Ethereum after the Bitcoin ETF approval in the last article We approached the price target of $2330 last Friday, and I believe that was the last dip for now! With the stock market at an all-time high, I anticipate crypto assets to follow suit. Elon Musk is likely to implement Bitcoin, Ethereum and Dogecoin to his new platform, X Payments. So, yes, exciting times ahead! According to Elliott waves, the price target for ETH should be $2600.
Long
by TopgOptions
1
Ethereum's Price Surge and the Path Ahead Ethereum ( CRYPTOCAP:ETH ) has emerged as a resilient force, defying broader market trends with a nearly 2% gain in the past 24 hours. The surge in Ether's price, currently hovering around $2,651, is notable against the backdrop of sharp pullbacks experienced by major tokens, including Bitcoin. This positive momentum comes on the heels of the Securities and Exchange Commission's (SEC) recent approval of multiple spot Bitcoin exchange-traded funds (ETFs), signaling potential optimism for Ethereum's future. Ether's Impressive Rally: Since the SEC's approval of spot Bitcoin ETFs, Ethereum has rallied above the $2,600 mark, capturing the attention of market participants. This price surge has propelled the supply of Ether in profit to a multi-year high, currently standing at an impressive 89.4%, a level not seen since 2021. While this statistic may evoke optimism, on-chain analysis suggests potential short-term price correction risks that could impact the second-largest digital asset by market cap. Short-Term Correction Risks: Despite the bullish sentiment, concerns arise as The Block's Data Dashboard highlights the elevated circulating supply of Ether in profit. The question looms: Could this heightened supply encourage traders to take profits, triggering a short-term correction in the digital asset's price? Analysts warn of a cautious approach, emphasizing the need to monitor market dynamics closely. The SEC Effect and Speculation: The recent SEC approval of spot Bitcoin ETFs has fueled speculation regarding a potential spot Ether ETF in the near future. André Dragosch, Head of Research at CRYPTOCAP:ETC Group, points to this development as a bullish catalyst for Ethereum. The prospect of an Ether ETF could attract institutional interest and further legitimize the digital asset, potentially paving the way for sustained upward momentum. Stabilizing Factors and Long-Term Outlook: Despite the short-term correction risks, Dragosch contends that the current high in Ether's circulating supply in profit could act as a stabilizing factor for the token. The reduced incentive to sell among longer-term holders may counterbalance potential profit-taking by weaker hands. This stabilization, in turn, could provide support for Ethereum's ongoing bull market, presenting a nuanced picture for investors to consider. Conclusion: As Ethereum continues to navigate the dynamic cryptocurrency landscape, its recent price surge and the accompanying supply dynamics present a complex but intriguing scenario. The SEC's actions and the potential for an Ether ETF add layers to the narrative, shaping Ethereum's future trajectory. While short-term correction risks exist, the stabilizing factors suggest resilience in the market. Investors and enthusiasts alike must stay vigilant, recognizing both the challenges and opportunities inherent in Ethereum's evolving journey.
BINANCE:ETHUSDLong
by DEXWireNews
Ethereum Price to Cross $3k After Bitcoin ETF Approval? Ethereum ( CRYPTOCAP:ETH ) has seen a remarkable surge in price, briefly breaking past the $2,400 mark today January 10th, 2023 with a notable 10% gain within the weekly timeframe. The rally comes amidst heightened anticipation for a positive Bitcoin ETF approval, despite recent controversies surrounding a false announcement by the U.S. Securities and Exchange Commission (SEC). Let's delve into the dynamics of Ethereum's recent price performance, comparing it to Bitcoin, and explores the potential for CRYPTOCAP:ETH to reach $3,000 post-BTC ETF approval. Ethereum's Resilient Uptrend: Despite the crypto market's widespread volatility on January 9, triggered by the SEC's false announcement on Bitcoin ETF approval, Ethereum's price has exhibited a steadfast uptrend. Trading as high as $2,440 on January 10, Ethereum's 11% price growth between January 7 and January 10 outpaced Bitcoin's 4%. This trend has sparked interest among crypto derivatives traders, who are increasingly betting bigger on CRYPTOCAP:ETH compared to BTC. Derivative Market Metrics: One key metric indicating Ethereum's potential for further gains is the funding rate. As of January 10, CRYPTOCAP:ETH boasts a funding rate of 0.014%, marginally exceeding BTC's 0.12%. A higher positive funding rate for Ethereum suggests increased demand for long positions in the CRYPTOCAP:ETH derivatives market, reflecting a more optimistic sentiment among traders. Open Interest Dynamics: Further supporting the bullish outlook for Ethereum, open interest dynamics reveal a significant divergence between CRYPTOCAP:ETH and BTC. ETH's open interest has surged by 14.6% from $3.71 billion on January 7 to $4.57 billion on January 10, outpacing Bitcoin's more modest 5% boost from $6.4 billion to $7.3 billion. This suggests that new entrants are bringing fresh capital to Ethereum, reinforcing the notion that traders anticipate larger price gains in the days ahead. Conclusion: In conclusion, Ethereum's recent surge past $2,400, fueled by strong derivative market metrics and open interest dynamics, paints a bullish picture for the cryptocurrency. As the market eagerly awaits the Bitcoin ETF verdict, CRYPTOCAP:ETH 's resilience and the optimism of derivative traders suggest a potential breakout above $2,500, reaching levels not seen since May 2022. However, investors should remain cautious of potential resistance levels and profit-taking behaviors as ETH aims to reclaim the $3,000 territory.
BINANCE:ETHUSDLong
by DEXWireNews
ETH - ETHERIUM confirmed 👌 it's dump The analysis ⏰ made based supply and demand zone 📌 #DYOR Based on 1W time frame chart 📉📈 lower position price shift to high 📌 good 👍 / but / It's confirmed 👍 the pattern was HH >> LH ( shifted 🙄 ) But recent times slowly movement got shifted 🙄 BINANCE:ETHUSDT Lower low to lower high 📌 this turned/shift movement to bearish 📍 ( last price action recent) Is any chance to get price move postive upside 🚀 2 possible ways :: 1-> lower low to lower High should complete in between previous High and high to high lower This helps to price push 🙂 upside 🚀 2-> We need to have oder block strong upside 🚀 should break high and high of previous This helps to price push even harder 🙂 upside 🚀 If these things are happened 😂 my analysis is completely ⚡ invalid 📌 Expecting small rise towards >> $1720 - $1820 Then return dump 📍 lower low's >> $1130 - $1295 The strong correction area around 30-40% drop 🩸 I explained clear drop analysis with Invalid point ☝️ chart is clear 📍 i am here Drop ur question ⁉️ in comments box ☑️ Check profile and follow article if u are interested to get updates 😉 Give boosting 🚀 to article and share to ur frnds Have a nice day 🙂
BITSTAMP:ETHUSDShort
by raj5_7_5
Ethereum Loses Long-Term Trend Channel: What Does This Mean?Recently, Ethereum experienced the breakage of its long-term trend channel, which had been maintained since its inception. This channel represented a consistent growth trajectory over the years. The loss of this technical support suggests a significant shift in the cryptocurrency market, with the possibility of an extended adjustment period that could extend until the end of 2024. The breaking of this channel is a relevant technical event that deserves the attention of the cryptocurrency community as it may indicate changes in the medium-term market dynamics.
INDEX:ETHUSDShort
by joaowedsonf
Telegram Trading Bots - The New Hype 🦄☛🐴 (aka Uni-Horse )🥕 First of all let's start with the Big Winner and real Unicorn: 🦄The one and only, his Etherum highness, Vitalik Buterin! The master of the gases always wins. ref: ''Telegram-based trading bot Unibot generates $650,000 in gas fees in one day'' 🥕 The second winner and also second force behind this success: TELEGRAM! You see, Unibot is a Telegram bot! Unibot offers a suite of features, including “limit orders,” “mirror sniper,” “fail guard sell,” and “private transactions.” The platform also has a real-time token scanner that allows customers to create alerts on newly created tokens on the Ethereum blockchain. When a new user joins the bot, the latter generates three new wallets, one of which must be funded on the Ethereum network. Then, users must top up one of the addresses with ETH before they can start trading. 🦄 🤠To the cheese: So yes, UNIBOT (or UniHorse as it should be called) is a Telegram Bot that makes money for Ethereum and also for Telegram. 🤠I would propose you stay safe, careful and cautious: 🐴Such Telegram bots, as Unibot and Genie Bot, might not be entirely safe. 🐴Individuals wishing to trade using bots can transfer their funds back to their old-school crypto wallets when closing their trades. 🐴There are also chances that most of the trading bots will go to zero as the market becomes oversaturated. 🐴You can also make your own. nothing too difficult or special here Just another hype imo... One Love, The FXPROFESSOR🤠 PS. 🦄Vitalik makes ALL the money, as always... why isn't Ethereum rising? 🥕🐴
by FX_Professor
7
ETH Ethereum Price Target| Binance vs SEC Lawsuit|Whales DumpingBinance disputes the SEC's allegations of mishandling customer funds, deceiving investors, and violating securities laws. The legal battle between Binance and the SEC has sent shockwaves through the cryptocurrency community. Binance and its affiliates assert that the SEC is overreaching its jurisdiction on digital assets, especially without any clear legislative guidance from Congress. The original lawsuit, filed in June, accused Binance of unlawfully listing unregistered securities. Historically, the actions of whales have been instrumental in shaping the price movements of Bitcoin and the broader cryptocurrency market. Non-whale addresses, those holding less than 100 BTC, now account for over 41% of the total Bitcoin supply. Meanwhile, whales, entities holding between 100 and 100,000 BTC, have witnessed a decline in their collective holdings to 55.5%, marking their lowest ownership level since May. The decrease in whale holdings could signal a potential change in the market's dynamics, potentially leading to increased volatility and uncertainty. These developments collectively cast a shadow over the cryptocurrency market's near-term prospects. In this context, my price target for ETH Ethereum is $1310. Looking forward to read your opinion about it!
Short
by TopgOptions
6
ETH The Potential Downfall of EthereumThe recent developments involving a giant whale associated with Vitalik Buterin depositing a significant amount of 2,013 ETH to OKX, combined with Ethereum Co-Founder Vitalik Buterin expressing concerns about the security of over $40 billion worth of staked ETH, present potential reasons for a decline in Ethereum's value. The deposit of such a substantial amount by a prominent figure like Vitalik Buterin's associate raises questions about market dynamics. It could imply a potential sell-off or a lack of confidence in the future performance of Ethereum. Large-scale transactions like these often have a psychological impact on investors and traders, potentially leading to increased selling pressure. The expressed concerns of Vitalik Buterin regarding the vulnerability of over $40 billion worth of staked ETH highlight potential security risks within the Ethereum ecosystem. Such concerns can erode investor confidence and create uncertainty about the overall stability and reliability of the Ethereum network. If investors perceive Ethereum as susceptible to theft or hacking, it may lead to a loss of trust and a subsequent decrease in demand for the cryptocurrency. When a co-founder of a project raises concerns about its security, it can generate negative sentiment among the community and wider market participants. This negative sentiment may result in increased caution or even withdrawals from staking, further impacting Ethereum's price. My Price Target for ETH Ethereum is now $1750, close to the 200 Moving Average on the Daily Timeframe. Looking forward to read your opinion about it.
Short
by TopgOptions
Post-upgrade review: what’s next for Ethereum?Ethereum’s network keeps evolving When the ethereum network enabled withdrawal of staked Ether (ETH) and related rewards on 12 April 2023, several upgrades were made into the blockchain. Many investors wonder why the ‘Shanghai upgrade’ was rebranded as ‘Shapella upgrade’. This was due to the fact that software upgrades were made both on the execution layer of the blockchain (the Shanghai upgrade) and on the consensus layer of the blockchain (Capella upgrade). The execution layer is an environment where applications and smart contracts reside and where transactions within and between applications are processed. The consensus layer, on the other hand, is a place where the network rules are enforced. This layer became active with the introduction of Proof-of-Stake (PoS) consensus mechanism. The combination of these upgrades is called ‘Shapella’. It is typical for the Ethereum network that it keeps evolving and improving. In fact, Ethereum’s inventor, Vitalik Buterin, has stated that after the completion of the Merge, the network is only 50% complete. Staking yield varies On 30 May 2023, Ethereum’s annual staking yield was estimated at 5.6%1. The estimated yield varies depending on the amount of validators, the amount of transactions, whether maximum extractable value (MEV) technology is used, and how ETH is staked: via solo home staking, staking-as-a-service, via liquid staking pools or via centralised exchanges. The number of validators has increased to a total of almost 593,000 validators2. One could assume that when the validator number increases, the annual percentage yield (APY) might go down, but transaction fees and MEV technology, on the other hand, might increase the yield. MEV is about prioritising the transactions and outsourcing the block production to third parties to maximise the yield. As more use cases are being developed, and more ETH is being used, the transaction portion of the yield might increase. Number of validators keeps increasing, making the network more secure The more validators there are the more secure the network is, although there comes a point when additional validators no longer add value in terms of security but add to the cost of securing the network. In fact, Ethereum developers are planning to cap the number of validators to make sure they do not overpay for economic security and to have plenty of new ETH for staking and for collateral purposes behind decentralised stablecoins. It also appears necessary to restrict the growth of validators as some future upgrades on Ethereum, such as single slot finality, require every validator to respond in seconds. To have a million validators might make this process technically challenging3. The largest individual new validators since the unstaking event come from liquid staking providers Lido Finance (19%) and Rocketpool (4%) and centralised exchange provider Coinbase (7%). Over 50% of new validators are unidentified4. Validators wanting a full exit has dropped significantly After withdrawal of staked ETH and related rewards were allowed, the Ethereum network limited the number of full validator exits to maintain the stability and security of the network. The number of full exits was limited to seven validators per epoch, which is 6.4 minutes, meaning that a maximum of 1,575 validators could exit the network per day5. Although there was an initial flurry of exits, on 30 May 2023, just 53,028 ETH or approximately $101 million of ETH was waiting for a full exit. This number is down 6x from early May when over 350,681 ETH was waiting for a full exit from the network. The number of validators that have exited fully so far is approximately 10% and, at the moment, the number of validators waiting for a full exit is just 1,642, down from 10,920 validators in early May6. A big part of exited validators come from Kraken, and was expected, as Kraken has settled a lawsuit with the Securities and Exchange Commission in the US and promised to stop offering its staking-as-a-service product to US customers. Other large exits have come from Binance, Coinbase, and Huobi7. It also looks as though 50% of ETH waiting for withdrawal has come from Kraken8. The feared downside price pressure on ETH did not materialise and, in fact, the price of ETH has not changed much since unstaking. The price is flat since 12 April 2023, although the price has varied somewhat during this time period. ETH, however, has had a meaningful run since the beginning of 2023, and is up by more than 50% this year9. Increasing amount of staked ETH shows the attraction of staking yield for investors Since the Merge in September of last year, the amount of ETH staked has increased by 60% to a total of over 21.6 million from 13.5 million of ETH staked last September. This number includes the ETH rewards10 and is close to 16% of the total ETH in circulation. The number of validators has increased as well by 40% since the Merge last September to 593,000 from 420,000. We expect the staking ratio to increase further and to at least double in the next year or so. Increased amount of staking activity and the increasing number of validators are positive signs for the Ethereum network and show that staking yield is part of the attraction for investing in Ethereum. Slow transaction processing and high costs remain to be resolved The Shapella upgrade does not solve the problem of network congestion or high gas/transaction fees, which became a problem during the last bull market of 2021-2022. Several other layer 1 networks, such as Solana, were actively developed and promoted during this time, because Ethereum’s gas fees rose to exceedingly high levels during high demand periods. For the moment, the network’s ability to handle transactions remains limited to 15-30 transactions per second. Up until recently, to address the capacity limitation problem, the Ethereum developers have talked about implementing sharding later this year. Sharding is a term whereby the network is split into smaller ‘shards’ to increase capacity. What seems to have taken precedence recently, instead, is to work together with layer 2 networks and to increase the Ethereum’s network capacity via Proto-Danksharding. Short-term scalability is expected to be achieved via Proto-Danksharding Proto-Danksharding is a way to address the scalability problem on the Ethereum blockchain. It uses layer 2 rollups (optimistic rollups, zero-knowledge rollups) to move transactions off-chain, bundle them up, and verify them back as a single transaction on the Ethereum’s layer 1 blockchain. If there is a problem with a transaction, this transaction can be reconstructured on Ethereum’s layer 1 network. This need to post the transaction data back to the layer 1 network is expensive because data is posted on all Ethereum nodes and is expected to live on the chain forever. Proto-Danksharding aims to solve this problem by attaching data ‘blobs’ into the network temporarily. Blobs would be large portable bundles that could contain cheap transaction data. These blobs would not be accessible to Ethereum Virtual Machine’s (EVM) environment and would be automatically deleted after a fixed time period. This would enable layer 2 rollups to send transaction data back to layer 1 much more cheaply and pass these savings on to users resulting in cheaper transactions. Sources 1 Source: Ethereum 2 Source: Ethereum 3 Source: Tim Beiko & Justin Drake, Ethereum Foundation, April 2023. 4 Source: Nansen 5 Source: Ethereum 6 Source: Nansen 7 Source: Rated Network Explorer. 8 Source: Nansen 9 Source: Nansen 10 Source: Nansen
E
by aneekaguptaWTE
DOTBTC 2023 outlook Polkadot price actionTime to look at my favourite altcoin and it's pretty dismal perfomance over the last year agaisnt BTC I've outlined my basic outlook on the weekly chart using candle stick closes and Log fibs. Coincidentally its touched the .886 retrace to the T. Typical sign of weak altcoins to retrace all the way back to the .886 level. I'm pretty confident the bottom for DOT/BTC is in based on this and the fact that its nearly an 80% correction from ATH vs BTC My mid term outlook is bullish (for a change) Looking at best case scenario retrace up to .618 from ATH placing it at the .0004830 sat region I've marked out 3 different TP below and above this level respectively as I've become accustomed to DOT usually underperforming against market competitors. So my TP is more conservative vs others. With the exception of TP3 being higher as I see this as an ATH for this market cycle Some thoughts on DOT Personally this is my favourite altcoin of them all. Admittedly one should not have emotion when it comes to trading as we're all here to make money and not love My bias is fundamentally based and I will probably always keep staking my DOT from my ledger for years to come Point 1 - Its not a security, this gives institutional interest and clarity on adding it to their basket or portfolio Point 2 - Highest DEV activity compared to other L1 : Link : www.thecoinrepublic.com Point 3 - Interoperability (future proof) Point 4 - Staking offline (my personal favourite) Point 5 - Gavin Wood (some food for thought for the ETH maxi's) There are more use cases to be made however one can only consider an argument valid if you can argue from both ends, So my concern for this project is as follows: Point 1 - Concensus mechanism too slow. One of my dear friends informed me they wanted to launch TAO on their parachain but it was too slow for their timeline, in turn they self funded the crowdloan Point 2 - Inflation. As great as APR is with Staking this shows inflation in the ecosystem and given that DOT has no FINITE market cap it can dampen price action in future I'll be adding my DOT/USDT analysis to this post and updating it over time. As this is afterall my favourite ))
Long
by Andy1GP
1
Ethereum Price Outlook - Feb 15th 2023Given the recent price action of Ethereum and the markets, it seemed reasonable to check out how the asset's been doing lately - especially since the price of $ETH is rubbing against a long-term overhead horizontal resistance. Ethereum on the Daily Resolution In the chart above, we can see the price recently testing the EMA-50 (successfully) before heading directly up to re-test the overhead horizontal resistance at $1660 or so. In just under a month, the price of Ethereum has bumped against this overhead horizontal resistance four times. Momentum Indicator Overlays Support an Entry on the Daily If we look at our various custom coded momentum indicators (which are overlaid on top of the price chart itself), we can see that they're near unanimous in signaling 'entry'. Librehash Reversion Ribbon V2 What we're going to see below should spark some intrigue for readers. As one can see above, the Librehash Reversion Ribbon V2: 1.) Has re-colored all of the candles red. 2.) The ribbon is showing a recent convergence of the ribbon (from 'red' to what should eventually be 'green' when the ribbon changes colors once it faster moving average crosses back over the slower one ). In laymen's terms, this exemplifies a major shift in sentiment for this asset (Ethereum). 3.) The color of the ribbon itself shifted from dark red to lighter red. This shift occurred on February 10th, 2023 (less than 5 days ago before we saw this shift in sentiment reflected in the price). 4.) The ribbon dipped just below the histogram, but it appears to be curving back upward, currently in a trajectory to cross back above the histogram (zero line). Balance of Power RSI This is a custom momentum indicator that we've created for the purpose of tracking the underlying buy/sell pressure for a given asset. The biggest benefit conferred by this indicator is its ability to track underlying shifts in buying/selling activity well before other indicators can (like the RSI(14)). In the photo above, we can see that the inflection point for this indicator was on February 13th, 2023. In this case, the indicator was not premature in its signal as it aligned with the pivot in price action that occurred on that same day as well. Balance of Power RSI on the Weekly Resolution While the Balance of Power RSI on the daily resolution isn't too insightful, the weekly resolution provides us with a great look at an underlying shift from bullish exuberance to gradually increased bearish price action (selling). Upon closer look we can see the shift in the Balance of Power RSI's trend (overall direction; think 'line of best fit'). Closer observation reveals that the 'second high' (localized) is lower than the first one. Let's look at the other momentum indicators vs. the Balance of Power RSI over the same timeframe. Librehash RSI(14) Cryptomedication Volatility RSI Which One Do We Trust? As we can see from the charts above, the Balance of Power RSI strongly contradicts the Librehash RSI & Cryptomedication Volatility RSI. In this case, we're going to place more weight on the Balance of Power RSI than the latter two indicators due to the fact that its specifically designed to track underlying changes in sentiments well ahead of other indicators. Conclusion We're going to abstain from entering into a position on Ethereum here. It is likely that the price will continue to increase in the short term, but we can't see enough upside over the medium term to justify entry into a 'long' position at the time of writing. We're also not going to be crazy enough to advocate for a short since the prevailing market sentiment seems to be overwhelmingly bullish at this point (compared to where it was toward the beginning to mid-Fall 2022).
INDEX:ETHUSD
by librechain
$TYRANT Fable Of The Dragon 👑🐉💫💖🕊️ The live Fable Of The Dragon price today is $0.468304 USD with a 24-hour trading volume of $1,125,701 USD. We update our TYRANT to USD price in real-time. Fable Of The Dragon is down 16.77% in the last 24 hours. The current CoinMarketCap ranking is #2695, with a live market cap of not available. The circulating supply is not available and a max. supply of 10,000,000 TYRANT coins. $TYRANT is a 0% Tax token is based on Vitalik's Twitter profile description linking to an animated 12-minute Tyrant Dragon Fable film. Our mission is to help fuel anti-aging research around the world through special programs, donations and community.
Long
by BADQOMOCAWGOWLD
3
$SHIBUSDT Going to the Moon!What is Shiba Inu (SHIB)? Shiba Inu (SHIB) is a meme token which began as a fun currency and has now transformed into a decentralized ecosystem. During the initial launch, 50% of the supply was allocated into Vitalik Buterin's ethereum wallet. The price of SHIB has soared from as low as $0.000000000056 to an all time high of $0.000084, that is a 150,000 times increase within 8 months. As a result of that, Vitalik proceeded to donate 10% of his SHIB holdings to a COVID-19 relief effort in India and the remaining 40% is burnt forever. That donation was worth about $1 billion at that time, which makes it one of the largest donation ever in the world.
Long
by BADQOMOCAWGOWLD