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ADA Price May Rise Along With THETA, SAFEMOON Pushed to a Downtrend?

The post ADA Price May Rise Along With THETA, SAFEMOON Pushed to a Downtrend? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

ADA Price Might Go Up the Curve In the last week, the Cardano price had been trending in the cryptocurrency market, putting all feats to hit back the $2 mark. The price trend had been highly oscillating, plunging to as deep as $1.4 and hitting $1.87 in the coming hours. For the past few days, …

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ADA Price Might Go Up the Curve

In the last week, the Cardano price had been trending in the cryptocurrency market, putting all feats to hit back the $2 mark. The price trend had been highly oscillating, plunging to as deep as $1.4 and hitting $1.87 in the coming hours. For the past few days, the price was fluctuating and struck at $1.88 but fell hopelessly. Currently some hulls have accumulated the line, and the price will possibly approach $2 once again today.

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ADA

At the time of typing, the ADA price is at $1.533. In the early hours the price fell from $1.62 to $1.55. With a bullish candle in hand, the price was expected to surge, but it only fell deeper near $1.474. Currently it has surged from this point. If this proceeds, the price may hit $1.80 or above in the coming hours. However, if it fails to rally further, it might start dipping from there failing to touch a new ATH.

Technical Specifications 

  • The resistance value is $ 1.688
  • The support value is $ 1.663
  • The indicators point out a sell signal.

THETA Price Advances With a Bullish Trend

The price movements for this token has been between $8 and $10. Trying to deviate from this channel, the price surged to $10.45 but fell back to $9.174 in the last couple of days. Currently, the price is soaring and set off towards a shift from this channel bypassing the $10 mark. 

THETA

At the time of writing, the THETA price gradually lifted its head to $8.931. In the early hours it resumed yesterday’s bearish trend and was dipping rapidly. This happened in two phases, where it first fell to $8.595 and then to $8.369, with the aggravating selling pressure. Now, the movement flipped being bullish and might touch $10, if the bulls rally further. However, failing to do so, the price may dip from this point and sail back at $8.50.

Technical Specifications 

  • The resistance value is $ 9.470
  • The support value is $ 9.075
  • The indicators point out a buy signal.

SAFEMOON Taking a Curve Away from the Moon

For the last couple of days, the SAFEMOON price is dripping slowly. Earlier today, the price survived the bearish storm and striked at $0.00000390 from $0.00000367. However, the momentum ceased and the price plunged deeper in segments, from there. Currently, SAFEMOON is still entangled in a downtrend and is moving downwards. 

SAFE

At the time of typing, the SAFEMOON price is $0.000003596. For the past hours, it has been highly fluctuating between $0.00000345 and $0.00000375. At present the price is positioned downwards and may plunge further to $0.00000354. Following which the price may begin to oscillate within the range again. 

Technical Specifications 

  • The resistance value is $ 0.00000366
  • The support value is $ 0.00000352
  • The indicators point out a sell signal.

Also read: Safemoon price prediction, How high will the price hit by 2021?

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Source: https://coinpedia.org/price-analysis/ada-price-theta-and-safemoon-trends/

Blockchain

UMA Technical Analysis: Price Has Fallen Below the Fibonacci Pivot Point of $12.38

UMA price has tested and fallen below 23.6% FIB retracement level of $13.14. If the price falls below the 23.6% FIB extension level in some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well.

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Universal Market Access is a protocol to create synthetic assets that are based on the Ethereum blockchain. A synthetic asset is a different asset class that represents the value of the underlying asset. However,  UMA helps its users to create self-enforcing financial contracts and run them on Ethereum. The following UMA technical analysis will predict the price trends for the next few days:

Past Performance

On June 10, 2021, UMA started trading at $13.01. As of June 16, 2021, the closing price of UMA was $12.04. Thus, in the past week, the UMA price has plummeted by roughly 7%. In the last 24 hours, UMA has traded between $11.85-$13.14.

https://d229noksprj98s.cloudfront.net/wp-content/uploads/2021/06/uma-technical-analysis-price-has-fallen-below-the-fibonacci-pivot-point-of-12-38.png

https://www.tradingview.com/x/AoAaDOFl/

Day Ahead And Tomorrow

Currently, UMA is trading at $12.20. The price has increased slightly from the opening price of $11.97. Thus, the market looks positive.

READ  Revolut Announces 11 New Tokens for Trading in Cryptocurrencies

The MACD and signal lines are negative. However, a bullish crossover by the signal line over the MACD line has occurred. Thus, the overall market momentum is bullish, and we can expect a price to rise. However, both the lines are close to the zero lines and may change signs soon. Thus, a trend reversal is on the horizon.

The OBV indicator is gradually falling. Thus, selling volumes are higher than buying volumes. Hence, we can expect the UMA price to decrease.

The RSI indicator is at 49%. It has just rallied from the 30% mark. Thus, buying pressures are slowly mounting. Hence, we can expect the price to start rising again in a few hours.

UMA Technical Analysis

The price has fallen below the Fibonacci pivot point of $12.38. As some oscillators have shown bearish signals, we can expect the price to fall below the first Fibonacci pivot support level of $11.81 soon.

READ  Are Bitcoin [BTC] and Gold Prices Correlated? – ‘Pomp’ and Schiff to Battle Soon

The price has tested and fallen below the 23.6% FIB retracement level of $13.14. If the price falls below the 23.6% FIB extension level after some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well.

#UMA #Universal Market Access

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Source: https://www.cryptoknowmics.com/news/uma-technical-analysis-price-has-fallen-below-the-fibonacci-pivot-point-of-12-38

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Blockchain

CNN Launches “Vault” to Sell NFTs of Historic News Moments

The WarnerMedia-owned multinational news channel CNN is launching “Vault by CNN” to offer a select set of NFTs from the channel’s 41-year old archives.

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If you’ve ever wanted to own a piece of history, now might be your chance. The WarnerMedia-owned multinational news channel CNN is jumping into the NFT space with a new offering called “Vault by CNN”. The project will mint a select set of NFTs from the channel’s 41-year old archives on the Flow blockchain, which is also home to NBA Top Shot, a marketplace for sports highlights.

CNN NFTs Will Be Available in Late June

While CNN hasn’t specified the details for its first batch of NFTs, the channel has hinted that the offering will be based on its early exclusives, world history, and Presidential Elections. “Vault” will begin dropping these moments over a span of six weeks starting in late June 2021. Users could expect the successive collections to cover more topics and themes as Vault by CNN adapts to the community.

Explaining the rationale for the launch of its new service, CNN stated:

“Until now, there has been no way to ‘collect’ these moments. Users can often find old footage online, or packaged up in documentaries, but they cannot ‘own’ them or display them in the way they can with a print newspaper or magazine.”

The tokenized news moments will be available in a combination of both limited and open editions. To purchase these tokens, users will have to sign up for “Vault”, where they will store the moments. Unlike other NFT shops, users are not required to fulfill their payments in cryptocurrencies; they can buy their tokens using traditional methods such as credit cards. Although, users will need to create a digital wallet with the mobile application Blocto.

Users Will Be Able to Render Their NFTs Offline

CNN has partnered with video framing company Infinite Objects to help users render their NFTs onto a screen without an internet connection. 

Interestingly, Fox and Time Magazine have also announced their foray into the NFT market before CNN. As of yesterday, Fox Corporation revealed that it was investing $100 million in Blockchain Creative Labs for NFT content creation. 

READ  CHSB Technical Analysis: Breakout of the Pivot Resistance Level of $1.35

#CNN NFTs #Fox NFTs #News NFTs #Vault by CNN

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Source: https://www.cryptoknowmics.com/news/cnn-launches-vault-to-sell-nfts-of-historic-news-moments

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Blockchain

SEC Delays VanEck Bitcoin ETF Decision Yet Again, Deadline Pushed to July

The United States Securities and Exchange Commission (SEC) has delayed its decision on the VanEck bitcoin ETF again, saying in a filing that it wanted public commentary.

The post SEC Delays VanEck Bitcoin ETF Decision Yet Again, Deadline Pushed to July appeared first on BeInCrypto.

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The United States Securities and Exchange Commission (SEC) has delayed its decision on the VanEck bitcoin ETF again, saying in a filing that it wanted public commentary.

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The United States Securities and Exchange Commission has once again delayed its decision on the VanEck bitcoin ETF, the regulator announced in a filing published on June 16. The decision follows the first announcement of a delay in April when it requested an extension of 45 days to make a decision on the approval. The next deadline is set for July 2021.

The SEC will now seek public comments on the proposal to list the product prepared by Cboe Global Markets. Investors will likely be disappointed about the decision but will have to make do with the fact the ETF decision has only been delayed, not outright rejected.

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Concerns over investor protection

A bitcoin ETF would give a much larger swathe of investors the ability to invest in bitcoin easily. It allows investors to access the cryptocurrency market easily via a stock listing. This is the problem foreseen with an ETF, namely that the accessibility could lead to more risk for investors.

In the past, the SEC has cited investor protection and market volatility as the primary reasons behind the absence of bitcoin ETFs. Bitcoin’s recent correction of over 40% — though it has picked up to around the $40,000 range — has only exacerbated this concern.

In the filing, market manipulation and fraud have also been listed as concerns. The SEC asks the Cboe if it has taken any actions to prevent these occurrences, as well as if the trust and shares would be susceptible to manipulation.

More interestingly, it asks the degree to which bitcoin is transparent and how much it has changed in the past five years. It also asks potential commentators on the size and regulation of the bitcoin futures contract.

Insiders and market enthusiasts have pushed for an ETF, saying that it is about time for an asset that is now more or less in the mainstream. But regulators across the world are unsure what to do with such a nascent asset class and envision that there will be both legal and economic challenges to bringing it into greater public access.

Will the U.S. see an ETF approval this year?

The likeliness of a cryptocurrency ETF being approved this year in the U.S. is up in the air. VanEck has also submitted an SEC filing for an ETH-centered ETF, but updates on that are limited as it was only submitted early in May.

Gabor Gurbacs, a Director at VanEck, has called upon officials to embrace bitcoin, saying there are “trillions of dollars in potential value.” The U.S. remains a noticeable laggard in the cryptocurrency arms race, with economic rivals like China and developing nations taking to the technology at a much quicker pace.

The SEC now has several ETF applications on its desk, though the VanEck ETF remains the most prominent of them all. It could be that the SEC and other regulatory bodies are focused on a broader crypto framework first. In any case, the market should hear some news on the matter before the end of the year.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Rahul Nambiampurath is an India-based Digital Marketer who got attracted to Bitcoin and the blockchain in 2014. Since then, he has guided a number of startups navigate the complex digital marketing and media outreach landscapes. His work has even influenced distinguished cryptocurrency exchanges and DeFi platforms worth millions of dollars. He has a Masters degree in Finance.

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Source: https://beincrypto.com/sec-delays-vaneck-bitcoin-etf-decision-yet-again-deadline-pushed-to-july/

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Blockchain

VanEck Bitcoin ETF: SEC delays decision and additionally seeks public comment

The US Securities and Exchange Commission has a history of delaying the approval of Bitcoin ETFs. The regulatory hurdles and the indefinite rejections in the past have dented the hopes of a quick SEC

The post VanEck Bitcoin ETF: SEC delays decision and additionally seeks public comment appeared first on AMBCrypto.

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The US Securities and Exchange Commission has a history of delaying the approval of Bitcoin ETFs. The regulatory hurdles and the indefinite rejections in the past have dented the hopes of a quick SEC approval. Crypto-enthusiasts have already been frustrated by the SEC’s reluctance to sign off on an ETF.

In what is the most recent development, the agency further delayed passing its judgment on the VanEck Bitcoin Trust. 

Usually, the SEC delivers a decision on a particular application within 45-day windows. However, to date, the agency has used the upper cap, 240 days, to review most of the Bitcoin ETF applications and has ended up rejecting them. It should be noted that this is the second time that the regulatory body has extended its review period by 45 days for VanEck’s ETF. Previously, in April, the SEC stated that it needed “sufficient time” to evaluate the aforementioned proposal.

Additionally, the SEC has asked for public comment on VanEck’s application. Interested parties need to answer questions with relevant data to substantiate their views on how vulnerable the ETF would be to “market manipulation” and whether or not the regulatory ecosystem has “changed” since 2016. Other questions require the commentators to shed light on their views about the “transparency” of Bitcoin and their standpoint on the “size and regulation” of CME’s Bitcoin futures contracts. 

The SEC has time and again highlighted its concerns over fraud and manipulation in the BTC markets. Additionally, since the agency doesn’t have any control over exchanges, the regulators in the US feel that their “investor protection” obligation gets obstructed.  

However, the community presumed that the regulatory body would be more receptive to the crypto space under the novel leadership of Gary Gensler, but this decision has not sent out the message the community was expecting. However, Galaxy Digital’s exec, Mike Novogratz had recently stated that, in his opinion, ETFs would go live either by the fourth quarter this year or the first quarter next year. Now, since the brakes have already been applied, the approval is likely to delay itself even further. 


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Source: https://ambcrypto.com/vaneck-bitcoin-etf-sec-delays-decision-and-additionally-seeks-public-comment

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