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Bitcoin SV, Neo, VeChain Price Analysis: 27 January

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Bitcoin SV remained below its 200-SMA as its prime moved south from the support at $167.7. Neo also mirrored the broader market sentiment as the market’s bears targeted a move below the $21.8-support. Finally, VeChain tested its press time support level, but the market’s bulls could hold on to the $0.028-level over the next few trading sessions.

Bitcoin SV [BSV]

Source: BSV/USD, TradingView

Much like the broader altcoin market, Bitcoin SV flashed red at press time as its price traded below $170, down by over 2.3% in the last 24 hours. The 20-SMA and 200-SMA highlighted some key resistance levels, while also indicating the bear market trend for BSV as the candlesticks moved below both moving averages. In fact, the downtrend could continue over the next few sessions unless there is a bullish bounceback in market leaders Bitcoin and Ethereum.

The indicators favored the bears, but showed a lack of strong momentum. The Awesome Oscillator was bearish-neutral and the MACD’s histogram reflected the same sentiment. If the indicators maintain their position, BSV could trade close to its press time support level over the next few sessions.

Neo [NEO]

Source: NEO/USD, TradingView

Much like BSV, NEO was also bearish at the time of writing, with the price heading towards a strong support level at $21.8. Since buying activity and trading volumes were low, the bulls could struggle to hold on to the press time support level. On the other hand, if the price manages to scale the $23.6-resistance level, a strong case could be made for a bullish bounceback.

The On Balance Volume dropped along with the price over the past few trading sessions and showed that buyer numbers were dwindling in the market.

Although the Stochastic RSI was in the oversold zone, the fact that it was pointing lower indicated that the price might remain subdued before a reversal takes place on the charts.

VeChain [VET]

Source: VET/USD, TradingView

VeChain’s price has been on an uptrend since the start of the month and the cryptocurrency has given favorable returns of 41.6% over the past 30 days. However, its latest price action followed its counterparts, NEO and BSV, as VET moved into negative territory and traded around the $0.028-support. Despite the recent bearishness, however, the bulls could hold on to the level, barring a pullback in the broader market. The next few sessions could see the price trade close to the aforementioned support.

The Bollinger Bands showed that VET was primed for a reversal as the candlesticks moved along the lower band, an area from which the price typically reverses direction.

However, the Chaikin Money Flow reflected the weakness in the press time price as the index remained below zero.

Source: https://ambcrypto.com/bitcoin-sv-neo-vechain-price-analysis-27-january/

Amb Crypto

Miami Mayor dismisses Treasury Secretary Yellen’s criticism of Bitcoin

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Over the past few weeks and months, Miami and Mayor Francis Suarez have been working towards positioning the city as the country’s premier crypto-hub. “We want to be one of the most crypto-forward and technological cities in the country,” Suarez had said in a recent interview, with the comments coming on the back of reports […] Source: https://ambcrypto.com/miami-mayor-dismisses-treasury-secretary-yellens-criticism-of-bitcoin/

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FD7 Ventures launches $250M Micro-Fund in India for Cardano, Polkadot-based projects

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A few days after FD7 Ventures, a Dubai-based crypto-investment fund, made news after it announced its decision to sell its Bitcoin holdings worth $750M to buy more Cardano and Polkadot, the fund is in the headlines again. According to a press release, FD7 Ventures has now launched a $250M Micro-Fund in India to invest in […] Source: https://ambcrypto.com/fd7-ventures-launches-250m-micro-fund-in-india-for-cardano-polkadot-based-projects/

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Why Mark Cuban is looking forward to Ethereum’s use cases

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Entrepreneur Mark Cuban is in awe of Ethereum network and thinks that blockchain technology could be a game-changer for various industries. In a recent interview, Cuban said that it is the “simplification of smart contracts” on Ethereum that gets him “excited.” He said: Because now, all these SaaS companies, all these different companies, I could […] Source: https://ambcrypto.com/why-mark-cuban-is-looking-forward-to-ethereums-use-cases/

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Litecoin, EOS, Enjin Coin Price Analysis: 01 March

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Litecoin seemed positioned for additional losses after the long-term moving average closed in on the short-term line. EOS moved within a descending channel after finding support at $3.5. Lastly, ENJ went past a key resistance and saw its price rise on the charts. Litecoin [LTC] Losses in the last seven days amounted to over 25% […] Source: https://ambcrypto.com/litecoin-eos-ftx-token-price-analysis-01-march/

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