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Ethereum, Aave, Algorand Price Analysis: 24 January

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Ethereum rose above $1250 and was trading at $1326 with the likelihood of testing $1440 on the back of demand from buyers. Aave continued to surge and targeted $260, and Algorand broke above an important region of supply and looked to flip that region into one of demand.

Ethereum [ETH]

Ethereum, Aave, Algorand Price Analysis: 24 January

Source: ETH/USD on TradingView

ETH closed beneath the ascending channel but this reversal pattern did not see the coin revisit the base of the channel. Rather, it reached a low of $1039 and bounced back strongly over the past few days.

The OBV made a series of higher lows to denote strong buyer interest even though ETH’s dip of around 25% over the course of three days. The Awesome Oscillator formed a bullish twin peak set up to generate a buy signal.

ETH rose past the $1220-$1270 region that has provided liquidity in the past. This ascent could see the price make another attempt at the $1440 local highs.

Aave [AAVE]

Ethereum, Aave, Algorand Price Analysis: 24 January

Source: AAVE/USDT on TradingView

Using the Fibonacci retracement tool, and its 27% extension level, a target of $260 was set for the bulls in the short-term. Momentum was strongly in favor of the bulls.

However, the Stochastic RSI was in the overbought territory, while the RSI too was on the verge of going above the 70 value. This does not indicate a reversal, rather it shows that a pullback can materialize. A Doji candlestick on heavy trading volume would give an early sign that the market sentiment was beginning to shift in the short-term.

Algorand [ALGO]

Ethereum, Aave, Algorand Price Analysis: 24 January

Source: ALGO/USD on TradingView

ALGO rose above the $0.54-$0.56 pocket of liquidity, a sign of bullish strength. The MACD showed strong bullish momentum, while the trading volume was also above average.

The next level of resistance lies at $0.63. Bulls will seek to defend the highlighted region from bearish pressure, failing which a level of support lies at $0.5.

A week ago, ALGO formed local highs at $0.6 but was unable to stay there. A repeat of that situation would see a double top form for ALGO- subsequent drops beneath $0.54 could be hard to recover from for the bulls.

Source: https://ambcrypto.com/ethereum-aave-algorand-price-analysis-24-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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