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Social Engineering: A Major Threat to Your Privacy

Social Engineering

Protecting your privacy takes more than running a privacy-oriented Linux distro and using a password manager. Many security experts believe the weakest link in any system is the human that operates it. In this article, we’ll learn what social engineering is and why it is such a threat. Then we’ll look at some of the […]

Social Engineering: A Major Threat to Your Privacy was originally found on Blokt – Privacy, Tech, Bitcoin, Blockchain & Cryptocurrency.

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Social Engineering
Social Engineering

Protecting your privacy takes more than running a privacy-oriented Linux distro and using a password manager. Many security experts believe the weakest link in any system is the human that operates it.

In this article, we’ll learn what social engineering is and why it is such a threat. Then we’ll look at some of the social engineering attacks that bad guys can use against you, both online and offline. We wrap it up with a few tips for protecting yourself from social engineering attacks.

What is Social Engineering?

Merriam-Webster defines social engineering as the “management of human beings in accordance with their place and function in society.” That sounds a little creepy in itself. But in recent years, the phrase has taken on a more manipulative, sinister meaning.

Today, social engineering means something like “manipulating people to give you confidential information.” When we talk about social engineering here, this is the sense that we’re using.

Why Social Engineering is Such a Threat

Criminals use social engineering because it is easier than hacking into a computer system. Tricking someone into telling you something they shouldn’t is relatively easy. Most people are trusting of others.

It doesn’t matter how secure your computer system is. Or where you stashed your personal documents. Or how many guards are in front of your offices. Social engineering attacks sidestep all that.

Famous ex-hacker Kevin Mitnick often used social engineering attacks to get into “secure” computer systems.

“Anyone who thinks that security products alone offer true security is settling for the illusion of security.” – Kevin D. Mitnick, The Art of Deception: Controlling the Human Element of Security

Criminals use social engineering attacks, both online and offline. Now we’ll look at some of the most common types of attacks and what you can do to defend yourself against them.

Let’s start with some of the online social engineering attacks beloved by hackers.

“A hacker is someone who uses a combination of high-tech cyber tools and social engineering to gain illicit access to someone else’s data.”John McAfee

Some Online Social Engineering Attacks

Here are a few of the most common online social engineering attacks:

  • Phishing
  • Spear Phishing
  • Baiting

Phishing

According to the Department of Homeland Security website, a phishing attack “uses email or malicious websites to solicit personal information by posing as a trustworthy organization.”

You’ve seen this kind of attack. We all get emails from official-sounding organizations claiming there’s a problem with our account, or they need to verify our credit card information.

The goal is to get you to click on the link in the email. That link will take you to a legitimate-looking, but phony, website for the organization. The website will be set up to trick you into entering your credit card data, Social Security number, or whatever it is that the crooks want to steal.

Spear Phishing

Spear phishing is a type of phishing attack where the attacker customizes the phishing email using personal information about the intended victim. In December 2018, the US Internal Revenue Service (IRS) published a warning about several spear-phishing scams.

These scams were meant to gather the information that goes on IRS Form W-2. The target for these scams was small businesses. The bad guys would use the information to open credit card accounts, file fraudulent tax returns, open lines of credit, and so on.

Spear phishing attacks rely heavily on Pretexting attacks. We cover Pretexting attacks in the next section.

Baiting

Baiting attacks are somewhat similar to phishing attacks. The difference is that baiting attacks offer the target something they want instead of resolve a problem. In these kinds of attacks, you might get offered free music, copies of new movies, or any other kind of prize. To get the prize, you would be required to enter whatever type of personal information it is that the crook is after.

Baiting attacks can also occur offline. One such attack involves leaving USB sticks lying around somewhere employees of a target company might find them. The chances are good that someone will pick one up and plug it into their computer, letting whatever malicious software it contains loose inside the organization.

Some Offline Social Engineering Attacks

Here are some common types of offline social engineering attacks:

  • Pretexting
  • Tailgating/Piggybacking
  • Vishing (Voice Phishing)

Pretexting

Pretexting is using some form of a lie to trick someone into giving up information they should not share. Pretexting attacks can be run both online and offline. They are often used to get the personal information needed to set up Spear Phishing attacks.

An offline example might be someone who calls you, pretending to be from a lawyer’s office. You’ve just inherited a lot of money from a distant relative. All you need to do is provide certain information to prove your identity, and the lawyer will wire you the money. The pretext for the call is the phony inheritance.

Tailgating/Piggybacking

Tailgating usually involves passing through some sort of electronic security system using someone else’s access. Someone following close behind you when you pass through electronic security might not be a fellow employee at all. Instead, they might be someone tailgating on your access to go somewhere they don’t belong.

Vishing (Voice Phishing)

Vishing, or Voice Phishing, is the offline equivalent of a Phishing attack. There are several versions of this attack, but all use the telephone system. They aim to get the victim to divulge a credit card number or some other personal information in response to an official-sounding phone call.

These scams usually use VoIP (Voice over IP) technology to simulate the automated phone system that a real company might use. Phone systems used to be considered safe and trustworthy, making people more vulnerable to Vishing scams.

How to Defend Yourself from ONLINE Social Engineering Attacks

We’ve looked at some of the more common online social engineering attacks in use today. But what can you do to protect yourself from them?

Here are some practices that will reduce your chance of getting scammed:

  • Don’t open unexpected email attachments. If you receive an unexpected attachment, the chances are good that it is malicious. Contact the company IT department (if at work). If not at work, contact the sender (if you know them). Find out why you received it before opening any unexpected attachment.
  • Look up websites on your own. Remember that phishing-type attacks usually direct you to a fake website. You can avoid their trap by looking up the website address yourself rather than clicking on a link in an email message or attachment. If you do find yourself on a website you are unsure about, check out the URL (the address) that appears in the browser address box. While it is possible to make an exact duplicate of a legitimate website, no two sites can have the same URL. Looking up the company in a search engine should get you to the real site.
  • Never reveal your password to anyone online. No legitimate organization is going to ask a user for their password.
  • Use a VPN for additional privacy when browsing the web.

How to Defend Yourself from OFFLINE Social Engineering Attacks

We’ve also looked at common offline social engineering attacks. Here are some things you can do to protect yourself from offline attacks:

  • Don’t give personal information to callers. This may have been safe many years ago, but is not now. If someone calls you and says they need you to confirm some personal information, hang up on the creeps!
  • Don’t let anyone tailgate you to get past security. Regular criminals or ex-employees have been known to use this technique to get back onsite and steal things or exact vengeance.
  • Always demand an ID from anyone who shows up asking you for information.
  • Never plug anything into your computer if you don’t know where it came from!
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Ethereum, Ethereum Classic, Bitcoin Cash Price Analysis: 16 May

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Bitcoin (BTC) has been struggling to rise above the $50,000 mark, which could have resulted in traders dumping their Bitcoin positions to invest in altcoins. Glassnode data suggests that whale addresses owning more than 1,000 BTC have reduced from about 2,500 in February to 2,100.

If large investors continue to sell, Bitcoin could witness a sharp correction until institutional investors step in and buy at lower levels. While MicroStrategy announced the purchase of 271 Bitcoin on May 13, other existing institutional investors appear to be adopting a wait and watch approach.

Crypto market data daily view. Source: Coin360

In an interview with Financial NewsSquare, Square chief financial officer Amrita Ahuja said, at this point, the firm does not have any plans to add Bitcoin to its existing haul of roughly 8,027 Bitcoin purchased in October 2020 and February of this year.

If other institutions also stay away from buying at current levels, Bitcoin’s price is likely to slide further. However, Fundstrat Global Advisors managing partner Tom Lee believes Bitcoin’s rally still has legs. Lee has increased his year-end Bitcoin target from $100,000 to $125,000.

With action becoming coin specific, let’s look at the top-5 cryptocurrencies that may lead the charge in the next few days.

BTC/USDT

The bulls again purchased the dip to the neckline of the head and shoulders pattern today but the long wick on the candlestick suggests profit-booking at higher levels. Bitcoin’s sentiment seems to have changed from buy on dips to sell on rallies.

BTC/USDT daily chart. Source: TradingView

If the bears sink and sustain the price below the neckline, the H&S pattern will complete. This setup has a target objective at $31,653.73. The downsloping 20-day exponential moving average ($53,297) and the relative strength index (RSI) below 36 indicate the bears are in control.

However, the bulls are unlikely to give up easily. They will try to stall the decline in the $43,000 to $40,000 support zone but if they fail, the decline could be sharp.

Contrary to this assumption, if the price turns up from the current level and rises above $51,550, the BTC/USDT pair may rally to the 20-day EMA. A breakout and close above the $60,000 resistance will suggest the bulls are back in the game.

BTC/USDT 4-hour chart. Source: TradingView

The rebound from $46,435.02 fizzled out at the 20-EMA. This suggests the sentiment is negative and traders are selling on rallies to the 20-EMA. If the bears sink the price below the neckline, the selling could intensify.

However, if the bulls again defend the neckline, the pair may attempt to rise above the 20-EMA. If that happens, the rally could extend to $51,538.22 where the bulls are likely to encounter stiff resistance.

If the price turns down from this resistance, the pair may consolidate between $46,000 and $51,500 for a few days.

XRP/USDT

XRP is currently trading inside a symmetrical triangle, which usually acts as a continuation pattern. If the bulls can drive the price above the resistance line of the triangle, the altcoin could retest the 52-week high at $1.96.

XRP/USDT daily chart. Source: TradingView

A breakout and close above $1.96 could start the next leg of the uptrend that may reach $2.68. The RSI has risen into the positive territory but the 20-day EMA ($1.43) is yet to turn up, which suggests that bears are likely to defend the resistance line aggressively.

If the price turns down from the resistance line, the XRP/USDT pair could extend its stay inside the range for a few more days. The pair could turn negative if the bears sink and sustain the price below the triangle. Such a move may pull the price down to $0.88.

XRP/USDT 4-hour chart. Source: TradingView

The price has dipped to the moving averages on the 4-hour chart. If the pair rebounds off the current levels with strength, it will suggest buying on dips. The bulls will then try to push the price above the triangle.

Alternatively, if the bears sink and sustain the price below the moving averages, the pair could drop to $1.35 and then to the support line of the triangle. A break below this support could signal advantage to the bears.

DOT/USDT

Polkadot (DOT) broke out and closed above the overhead resistance at $44 on May 14. The bulls continued the momentum and pushed the price to a new all-time high at $49.78 on May 15 but could not sustain the higher levels. Profit-booking has pulled the price back below the breakout level at $44.

DOT/USDT daily chart. Source: TradingView

If the bulls do not give up much ground from the current levels, it will suggest buying on dips. The DOT/USDT pair could then make one more attempt to rise above the psychological level at $50.

If that happens, the pair could start the next leg of the uptrend that may reach $63.68. The marginally upsloping 20-day EMA ($39.54) and the RSI in the positive territory suggest the path of least resistance is to the upside.

Contrary to this assumption, if the price sustains below $44, the pair could drop to the moving averages. A break below this support could pull the price down to $32.50.

DOT/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bears pulled the price below the 20-EMA but the bulls are attempting to reclaim the support. The buyers will have to push the price above $47 to regain the advantage. If they succeed, a retest of $50 is likely.

On the other hand, if the price fails to climb above the 20-EMA, it will suggest a lack of buying support. That could pull the price down to the 50-simple moving average. The flattening 20-EMA and the RSI near 50 suggest a balance between supply and demand.

XLM/USDT

Stellar Lumens (XLM) is attempting to start a new uptrend. The bulls purchased the dip to the 20-day EMA ($0.61) on May 13 and pushed the price to a new 52-week high at $0.79 today. However, the long wick on the day’s candlestick indicates profit-booking at higher levels.

XLM/USDT daily chart. Source: TradingView

If buyers can sustain the price above $0.73, the XLM/USDT pair could rally to $0.85 and then to $1. The upsloping moving averages and the RSI above 63 indicate that bulls have the upper hand.

Contrary to this assumption, if the price sustains below $0.73, the pair could drop to the 20-day EMA. A strong rebound off this support will suggest the sentiment remains positive. The bulls will then make one more attempt to resume the uptrend.

This positive view will invalidate if the price breaks below the 20-day EMA. Such a move will suggest that traders are closing their positions in a hurry and not buying the dips. That could result in a drop to the 50-day SMA ($0.53).

XLM/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the formation of an inverse head and shoulders pattern. This bullish setup has a target objective at $0.90. The upsloping 20-EMA and the RSI in the positive territory suggest that bulls are in command.

During strong uptrends, corrections are likely to be shallow. Therefore, the current dip may find support at $0.72. A strong bounce off this level could increase the possibility of the resumption of the uptrend.

This bullish view will invalidate if the price dips and closes below the neckline. Such a move could trap the bulls, resulting in long liquidation. The pair may then decline to $0.55.

SOL/USDT

Solana (SOL) had been range-bound between $40 and $49.99 for the past few days. A tight consolidation near the high is a positive sign as it shows that traders are not booking profits in a hurry.

SOL/USDT daily chart. Source: TradingView

The 20-day EMA ($42.86) is sloping up and the RSI has risen above 65, indicating the path of least resistance is to the upside.

If the bulls can sustain the price above the psychological level at $50, the SOL/USDT pair may resume its uptrend. The next target objective on the upside is $60 and then $69.

On the contrary, if the price fails to sustain above $50, the pair may re-enter the range and extend its consolidation for a few more days. This positive view will invalidate if the pair breaks below $40.

SOL/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bulls pushed the price to a new all-time high at $52.60 today but the long wick on the candlestick indicates profit-booking at higher levels. The price has dipped back below $50 but it may find strong support at $46.

A strong rebound off this level will suggest that traders are buying on dips. The bulls will then again try to resume the uptrend. The rising 20-EMA and the RSI near the overbought zone suggest advantage to the bulls.

Contrary to this assumption, if the bears sink the price below $46, the pair may drop to the 20-EMA. Such a move will suggest aggressive selling above $50 and that could keep the pair range-bound for a few more days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-xrp-dot-xlm-sol

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coingenius.news/ethereum-ethereum-classic-bitcoin-cash-price-analysis-16-may/?utm_source=rss&utm_medium=rss&utm_campaign=ethereum-ethereum-classic-bitcoin-cash-price-analysis-16-may

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Ethereum, Ethereum Classic, Bitcoin Cash Price Analysis: 16 May

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Bitcoin (BTC) has been struggling to rise above the $50,000 mark, which could have resulted in traders dumping their Bitcoin positions to invest in altcoins. Glassnode data suggests that whale addresses owning more than 1,000 BTC have reduced from about 2,500 in February to 2,100.

If large investors continue to sell, Bitcoin could witness a sharp correction until institutional investors step in and buy at lower levels. While MicroStrategy announced the purchase of 271 Bitcoin on May 13, other existing institutional investors appear to be adopting a wait and watch approach.

Crypto market data daily view. Source: Coin360

In an interview with Financial NewsSquare, Square chief financial officer Amrita Ahuja said, at this point, the firm does not have any plans to add Bitcoin to its existing haul of roughly 8,027 Bitcoin purchased in October 2020 and February of this year.

If other institutions also stay away from buying at current levels, Bitcoin’s price is likely to slide further. However, Fundstrat Global Advisors managing partner Tom Lee believes Bitcoin’s rally still has legs. Lee has increased his year-end Bitcoin target from $100,000 to $125,000.

With action becoming coin specific, let’s look at the top-5 cryptocurrencies that may lead the charge in the next few days.

BTC/USDT

The bulls again purchased the dip to the neckline of the head and shoulders pattern today but the long wick on the candlestick suggests profit-booking at higher levels. Bitcoin’s sentiment seems to have changed from buy on dips to sell on rallies.

BTC/USDT daily chart. Source: TradingView

If the bears sink and sustain the price below the neckline, the H&S pattern will complete. This setup has a target objective at $31,653.73. The downsloping 20-day exponential moving average ($53,297) and the relative strength index (RSI) below 36 indicate the bears are in control.

However, the bulls are unlikely to give up easily. They will try to stall the decline in the $43,000 to $40,000 support zone but if they fail, the decline could be sharp.

Contrary to this assumption, if the price turns up from the current level and rises above $51,550, the BTC/USDT pair may rally to the 20-day EMA. A breakout and close above the $60,000 resistance will suggest the bulls are back in the game.

BTC/USDT 4-hour chart. Source: TradingView

The rebound from $46,435.02 fizzled out at the 20-EMA. This suggests the sentiment is negative and traders are selling on rallies to the 20-EMA. If the bears sink the price below the neckline, the selling could intensify.

However, if the bulls again defend the neckline, the pair may attempt to rise above the 20-EMA. If that happens, the rally could extend to $51,538.22 where the bulls are likely to encounter stiff resistance.

If the price turns down from this resistance, the pair may consolidate between $46,000 and $51,500 for a few days.

XRP/USDT

XRP is currently trading inside a symmetrical triangle, which usually acts as a continuation pattern. If the bulls can drive the price above the resistance line of the triangle, the altcoin could retest the 52-week high at $1.96.

XRP/USDT daily chart. Source: TradingView

A breakout and close above $1.96 could start the next leg of the uptrend that may reach $2.68. The RSI has risen into the positive territory but the 20-day EMA ($1.43) is yet to turn up, which suggests that bears are likely to defend the resistance line aggressively.

If the price turns down from the resistance line, the XRP/USDT pair could extend its stay inside the range for a few more days. The pair could turn negative if the bears sink and sustain the price below the triangle. Such a move may pull the price down to $0.88.

XRP/USDT 4-hour chart. Source: TradingView

The price has dipped to the moving averages on the 4-hour chart. If the pair rebounds off the current levels with strength, it will suggest buying on dips. The bulls will then try to push the price above the triangle.

Alternatively, if the bears sink and sustain the price below the moving averages, the pair could drop to $1.35 and then to the support line of the triangle. A break below this support could signal advantage to the bears.

DOT/USDT

Polkadot (DOT) broke out and closed above the overhead resistance at $44 on May 14. The bulls continued the momentum and pushed the price to a new all-time high at $49.78 on May 15 but could not sustain the higher levels. Profit-booking has pulled the price back below the breakout level at $44.

DOT/USDT daily chart. Source: TradingView

If the bulls do not give up much ground from the current levels, it will suggest buying on dips. The DOT/USDT pair could then make one more attempt to rise above the psychological level at $50.

If that happens, the pair could start the next leg of the uptrend that may reach $63.68. The marginally upsloping 20-day EMA ($39.54) and the RSI in the positive territory suggest the path of least resistance is to the upside.

Contrary to this assumption, if the price sustains below $44, the pair could drop to the moving averages. A break below this support could pull the price down to $32.50.

DOT/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bears pulled the price below the 20-EMA but the bulls are attempting to reclaim the support. The buyers will have to push the price above $47 to regain the advantage. If they succeed, a retest of $50 is likely.

On the other hand, if the price fails to climb above the 20-EMA, it will suggest a lack of buying support. That could pull the price down to the 50-simple moving average. The flattening 20-EMA and the RSI near 50 suggest a balance between supply and demand.

XLM/USDT

Stellar Lumens (XLM) is attempting to start a new uptrend. The bulls purchased the dip to the 20-day EMA ($0.61) on May 13 and pushed the price to a new 52-week high at $0.79 today. However, the long wick on the day’s candlestick indicates profit-booking at higher levels.

XLM/USDT daily chart. Source: TradingView

If buyers can sustain the price above $0.73, the XLM/USDT pair could rally to $0.85 and then to $1. The upsloping moving averages and the RSI above 63 indicate that bulls have the upper hand.

Contrary to this assumption, if the price sustains below $0.73, the pair could drop to the 20-day EMA. A strong rebound off this support will suggest the sentiment remains positive. The bulls will then make one more attempt to resume the uptrend.

This positive view will invalidate if the price breaks below the 20-day EMA. Such a move will suggest that traders are closing their positions in a hurry and not buying the dips. That could result in a drop to the 50-day SMA ($0.53).

XLM/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the formation of an inverse head and shoulders pattern. This bullish setup has a target objective at $0.90. The upsloping 20-EMA and the RSI in the positive territory suggest that bulls are in command.

During strong uptrends, corrections are likely to be shallow. Therefore, the current dip may find support at $0.72. A strong bounce off this level could increase the possibility of the resumption of the uptrend.

This bullish view will invalidate if the price dips and closes below the neckline. Such a move could trap the bulls, resulting in long liquidation. The pair may then decline to $0.55.

SOL/USDT

Solana (SOL) had been range-bound between $40 and $49.99 for the past few days. A tight consolidation near the high is a positive sign as it shows that traders are not booking profits in a hurry.

SOL/USDT daily chart. Source: TradingView

The 20-day EMA ($42.86) is sloping up and the RSI has risen above 65, indicating the path of least resistance is to the upside.

If the bulls can sustain the price above the psychological level at $50, the SOL/USDT pair may resume its uptrend. The next target objective on the upside is $60 and then $69.

On the contrary, if the price fails to sustain above $50, the pair may re-enter the range and extend its consolidation for a few more days. This positive view will invalidate if the pair breaks below $40.

SOL/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bulls pushed the price to a new all-time high at $52.60 today but the long wick on the candlestick indicates profit-booking at higher levels. The price has dipped back below $50 but it may find strong support at $46.

A strong rebound off this level will suggest that traders are buying on dips. The bulls will then again try to resume the uptrend. The rising 20-EMA and the RSI near the overbought zone suggest advantage to the bulls.

Contrary to this assumption, if the bears sink the price below $46, the pair may drop to the 20-EMA. Such a move will suggest aggressive selling above $50 and that could keep the pair range-bound for a few more days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-xrp-dot-xlm-sol

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coingenius.news/ethereum-ethereum-classic-bitcoin-cash-price-analysis-16-may/?utm_source=rss&utm_medium=rss&utm_campaign=ethereum-ethereum-classic-bitcoin-cash-price-analysis-16-may

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Solana, Theta, MATIC Price Analysis: 16 May

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Bitcoin (BTC) has been struggling to rise above the $50,000 mark, which could have resulted in traders dumping their Bitcoin positions to invest in altcoins. Glassnode data suggests that whale addresses owning more than 1,000 BTC have reduced from about 2,500 in February to 2,100.

If large investors continue to sell, Bitcoin could witness a sharp correction until institutional investors step in and buy at lower levels. While MicroStrategy announced the purchase of 271 Bitcoin on May 13, other existing institutional investors appear to be adopting a wait and watch approach.

Crypto market data daily view. Source: Coin360

In an interview with Financial NewsSquare, Square chief financial officer Amrita Ahuja said, at this point, the firm does not have any plans to add Bitcoin to its existing haul of roughly 8,027 Bitcoin purchased in October 2020 and February of this year.

If other institutions also stay away from buying at current levels, Bitcoin’s price is likely to slide further. However, Fundstrat Global Advisors managing partner Tom Lee believes Bitcoin’s rally still has legs. Lee has increased his year-end Bitcoin target from $100,000 to $125,000.

With action becoming coin specific, let’s look at the top-5 cryptocurrencies that may lead the charge in the next few days.

BTC/USDT

The bulls again purchased the dip to the neckline of the head and shoulders pattern today but the long wick on the candlestick suggests profit-booking at higher levels. Bitcoin’s sentiment seems to have changed from buy on dips to sell on rallies.

BTC/USDT daily chart. Source: TradingView

If the bears sink and sustain the price below the neckline, the H&S pattern will complete. This setup has a target objective at $31,653.73. The downsloping 20-day exponential moving average ($53,297) and the relative strength index (RSI) below 36 indicate the bears are in control.

However, the bulls are unlikely to give up easily. They will try to stall the decline in the $43,000 to $40,000 support zone but if they fail, the decline could be sharp.

Contrary to this assumption, if the price turns up from the current level and rises above $51,550, the BTC/USDT pair may rally to the 20-day EMA. A breakout and close above the $60,000 resistance will suggest the bulls are back in the game.

BTC/USDT 4-hour chart. Source: TradingView

The rebound from $46,435.02 fizzled out at the 20-EMA. This suggests the sentiment is negative and traders are selling on rallies to the 20-EMA. If the bears sink the price below the neckline, the selling could intensify.

However, if the bulls again defend the neckline, the pair may attempt to rise above the 20-EMA. If that happens, the rally could extend to $51,538.22 where the bulls are likely to encounter stiff resistance.

If the price turns down from this resistance, the pair may consolidate between $46,000 and $51,500 for a few days.

XRP/USDT

XRP is currently trading inside a symmetrical triangle, which usually acts as a continuation pattern. If the bulls can drive the price above the resistance line of the triangle, the altcoin could retest the 52-week high at $1.96.

XRP/USDT daily chart. Source: TradingView

A breakout and close above $1.96 could start the next leg of the uptrend that may reach $2.68. The RSI has risen into the positive territory but the 20-day EMA ($1.43) is yet to turn up, which suggests that bears are likely to defend the resistance line aggressively.

If the price turns down from the resistance line, the XRP/USDT pair could extend its stay inside the range for a few more days. The pair could turn negative if the bears sink and sustain the price below the triangle. Such a move may pull the price down to $0.88.

XRP/USDT 4-hour chart. Source: TradingView

The price has dipped to the moving averages on the 4-hour chart. If the pair rebounds off the current levels with strength, it will suggest buying on dips. The bulls will then try to push the price above the triangle.

Alternatively, if the bears sink and sustain the price below the moving averages, the pair could drop to $1.35 and then to the support line of the triangle. A break below this support could signal advantage to the bears.

DOT/USDT

Polkadot (DOT) broke out and closed above the overhead resistance at $44 on May 14. The bulls continued the momentum and pushed the price to a new all-time high at $49.78 on May 15 but could not sustain the higher levels. Profit-booking has pulled the price back below the breakout level at $44.

DOT/USDT daily chart. Source: TradingView

If the bulls do not give up much ground from the current levels, it will suggest buying on dips. The DOT/USDT pair could then make one more attempt to rise above the psychological level at $50.

If that happens, the pair could start the next leg of the uptrend that may reach $63.68. The marginally upsloping 20-day EMA ($39.54) and the RSI in the positive territory suggest the path of least resistance is to the upside.

Contrary to this assumption, if the price sustains below $44, the pair could drop to the moving averages. A break below this support could pull the price down to $32.50.

DOT/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bears pulled the price below the 20-EMA but the bulls are attempting to reclaim the support. The buyers will have to push the price above $47 to regain the advantage. If they succeed, a retest of $50 is likely.

On the other hand, if the price fails to climb above the 20-EMA, it will suggest a lack of buying support. That could pull the price down to the 50-simple moving average. The flattening 20-EMA and the RSI near 50 suggest a balance between supply and demand.

XLM/USDT

Stellar Lumens (XLM) is attempting to start a new uptrend. The bulls purchased the dip to the 20-day EMA ($0.61) on May 13 and pushed the price to a new 52-week high at $0.79 today. However, the long wick on the day’s candlestick indicates profit-booking at higher levels.

XLM/USDT daily chart. Source: TradingView

If buyers can sustain the price above $0.73, the XLM/USDT pair could rally to $0.85 and then to $1. The upsloping moving averages and the RSI above 63 indicate that bulls have the upper hand.

Contrary to this assumption, if the price sustains below $0.73, the pair could drop to the 20-day EMA. A strong rebound off this support will suggest the sentiment remains positive. The bulls will then make one more attempt to resume the uptrend.

This positive view will invalidate if the price breaks below the 20-day EMA. Such a move will suggest that traders are closing their positions in a hurry and not buying the dips. That could result in a drop to the 50-day SMA ($0.53).

XLM/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the formation of an inverse head and shoulders pattern. This bullish setup has a target objective at $0.90. The upsloping 20-EMA and the RSI in the positive territory suggest that bulls are in command.

During strong uptrends, corrections are likely to be shallow. Therefore, the current dip may find support at $0.72. A strong bounce off this level could increase the possibility of the resumption of the uptrend.

This bullish view will invalidate if the price dips and closes below the neckline. Such a move could trap the bulls, resulting in long liquidation. The pair may then decline to $0.55.

SOL/USDT

Solana (SOL) had been range-bound between $40 and $49.99 for the past few days. A tight consolidation near the high is a positive sign as it shows that traders are not booking profits in a hurry.

SOL/USDT daily chart. Source: TradingView

The 20-day EMA ($42.86) is sloping up and the RSI has risen above 65, indicating the path of least resistance is to the upside.

If the bulls can sustain the price above the psychological level at $50, the SOL/USDT pair may resume its uptrend. The next target objective on the upside is $60 and then $69.

On the contrary, if the price fails to sustain above $50, the pair may re-enter the range and extend its consolidation for a few more days. This positive view will invalidate if the pair breaks below $40.

SOL/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bulls pushed the price to a new all-time high at $52.60 today but the long wick on the candlestick indicates profit-booking at higher levels. The price has dipped back below $50 but it may find strong support at $46.

A strong rebound off this level will suggest that traders are buying on dips. The bulls will then again try to resume the uptrend. The rising 20-EMA and the RSI near the overbought zone suggest advantage to the bulls.

Contrary to this assumption, if the bears sink the price below $46, the pair may drop to the 20-EMA. Such a move will suggest aggressive selling above $50 and that could keep the pair range-bound for a few more days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-xrp-dot-xlm-sol

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coingenius.news/solana-theta-matic-price-analysis-16-may/?utm_source=rss&utm_medium=rss&utm_campaign=solana-theta-matic-price-analysis-16-may

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Blockchain

Solana, Theta, MATIC Price Analysis: 16 May

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Bitcoin (BTC) has been struggling to rise above the $50,000 mark, which could have resulted in traders dumping their Bitcoin positions to invest in altcoins. Glassnode data suggests that whale addresses owning more than 1,000 BTC have reduced from about 2,500 in February to 2,100.

If large investors continue to sell, Bitcoin could witness a sharp correction until institutional investors step in and buy at lower levels. While MicroStrategy announced the purchase of 271 Bitcoin on May 13, other existing institutional investors appear to be adopting a wait and watch approach.

Crypto market data daily view. Source: Coin360

In an interview with Financial NewsSquare, Square chief financial officer Amrita Ahuja said, at this point, the firm does not have any plans to add Bitcoin to its existing haul of roughly 8,027 Bitcoin purchased in October 2020 and February of this year.

If other institutions also stay away from buying at current levels, Bitcoin’s price is likely to slide further. However, Fundstrat Global Advisors managing partner Tom Lee believes Bitcoin’s rally still has legs. Lee has increased his year-end Bitcoin target from $100,000 to $125,000.

With action becoming coin specific, let’s look at the top-5 cryptocurrencies that may lead the charge in the next few days.

BTC/USDT

The bulls again purchased the dip to the neckline of the head and shoulders pattern today but the long wick on the candlestick suggests profit-booking at higher levels. Bitcoin’s sentiment seems to have changed from buy on dips to sell on rallies.

BTC/USDT daily chart. Source: TradingView

If the bears sink and sustain the price below the neckline, the H&S pattern will complete. This setup has a target objective at $31,653.73. The downsloping 20-day exponential moving average ($53,297) and the relative strength index (RSI) below 36 indicate the bears are in control.

However, the bulls are unlikely to give up easily. They will try to stall the decline in the $43,000 to $40,000 support zone but if they fail, the decline could be sharp.

Contrary to this assumption, if the price turns up from the current level and rises above $51,550, the BTC/USDT pair may rally to the 20-day EMA. A breakout and close above the $60,000 resistance will suggest the bulls are back in the game.

BTC/USDT 4-hour chart. Source: TradingView

The rebound from $46,435.02 fizzled out at the 20-EMA. This suggests the sentiment is negative and traders are selling on rallies to the 20-EMA. If the bears sink the price below the neckline, the selling could intensify.

However, if the bulls again defend the neckline, the pair may attempt to rise above the 20-EMA. If that happens, the rally could extend to $51,538.22 where the bulls are likely to encounter stiff resistance.

If the price turns down from this resistance, the pair may consolidate between $46,000 and $51,500 for a few days.

XRP/USDT

XRP is currently trading inside a symmetrical triangle, which usually acts as a continuation pattern. If the bulls can drive the price above the resistance line of the triangle, the altcoin could retest the 52-week high at $1.96.

XRP/USDT daily chart. Source: TradingView

A breakout and close above $1.96 could start the next leg of the uptrend that may reach $2.68. The RSI has risen into the positive territory but the 20-day EMA ($1.43) is yet to turn up, which suggests that bears are likely to defend the resistance line aggressively.

If the price turns down from the resistance line, the XRP/USDT pair could extend its stay inside the range for a few more days. The pair could turn negative if the bears sink and sustain the price below the triangle. Such a move may pull the price down to $0.88.

XRP/USDT 4-hour chart. Source: TradingView

The price has dipped to the moving averages on the 4-hour chart. If the pair rebounds off the current levels with strength, it will suggest buying on dips. The bulls will then try to push the price above the triangle.

Alternatively, if the bears sink and sustain the price below the moving averages, the pair could drop to $1.35 and then to the support line of the triangle. A break below this support could signal advantage to the bears.

DOT/USDT

Polkadot (DOT) broke out and closed above the overhead resistance at $44 on May 14. The bulls continued the momentum and pushed the price to a new all-time high at $49.78 on May 15 but could not sustain the higher levels. Profit-booking has pulled the price back below the breakout level at $44.

DOT/USDT daily chart. Source: TradingView

If the bulls do not give up much ground from the current levels, it will suggest buying on dips. The DOT/USDT pair could then make one more attempt to rise above the psychological level at $50.

If that happens, the pair could start the next leg of the uptrend that may reach $63.68. The marginally upsloping 20-day EMA ($39.54) and the RSI in the positive territory suggest the path of least resistance is to the upside.

Contrary to this assumption, if the price sustains below $44, the pair could drop to the moving averages. A break below this support could pull the price down to $32.50.

DOT/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bears pulled the price below the 20-EMA but the bulls are attempting to reclaim the support. The buyers will have to push the price above $47 to regain the advantage. If they succeed, a retest of $50 is likely.

On the other hand, if the price fails to climb above the 20-EMA, it will suggest a lack of buying support. That could pull the price down to the 50-simple moving average. The flattening 20-EMA and the RSI near 50 suggest a balance between supply and demand.

XLM/USDT

Stellar Lumens (XLM) is attempting to start a new uptrend. The bulls purchased the dip to the 20-day EMA ($0.61) on May 13 and pushed the price to a new 52-week high at $0.79 today. However, the long wick on the day’s candlestick indicates profit-booking at higher levels.

XLM/USDT daily chart. Source: TradingView

If buyers can sustain the price above $0.73, the XLM/USDT pair could rally to $0.85 and then to $1. The upsloping moving averages and the RSI above 63 indicate that bulls have the upper hand.

Contrary to this assumption, if the price sustains below $0.73, the pair could drop to the 20-day EMA. A strong rebound off this support will suggest the sentiment remains positive. The bulls will then make one more attempt to resume the uptrend.

This positive view will invalidate if the price breaks below the 20-day EMA. Such a move will suggest that traders are closing their positions in a hurry and not buying the dips. That could result in a drop to the 50-day SMA ($0.53).

XLM/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the formation of an inverse head and shoulders pattern. This bullish setup has a target objective at $0.90. The upsloping 20-EMA and the RSI in the positive territory suggest that bulls are in command.

During strong uptrends, corrections are likely to be shallow. Therefore, the current dip may find support at $0.72. A strong bounce off this level could increase the possibility of the resumption of the uptrend.

This bullish view will invalidate if the price dips and closes below the neckline. Such a move could trap the bulls, resulting in long liquidation. The pair may then decline to $0.55.

SOL/USDT

Solana (SOL) had been range-bound between $40 and $49.99 for the past few days. A tight consolidation near the high is a positive sign as it shows that traders are not booking profits in a hurry.

SOL/USDT daily chart. Source: TradingView

The 20-day EMA ($42.86) is sloping up and the RSI has risen above 65, indicating the path of least resistance is to the upside.

If the bulls can sustain the price above the psychological level at $50, the SOL/USDT pair may resume its uptrend. The next target objective on the upside is $60 and then $69.

On the contrary, if the price fails to sustain above $50, the pair may re-enter the range and extend its consolidation for a few more days. This positive view will invalidate if the pair breaks below $40.

SOL/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the bulls pushed the price to a new all-time high at $52.60 today but the long wick on the candlestick indicates profit-booking at higher levels. The price has dipped back below $50 but it may find strong support at $46.

A strong rebound off this level will suggest that traders are buying on dips. The bulls will then again try to resume the uptrend. The rising 20-EMA and the RSI near the overbought zone suggest advantage to the bulls.

Contrary to this assumption, if the bears sink the price below $46, the pair may drop to the 20-EMA. Such a move will suggest aggressive selling above $50 and that could keep the pair range-bound for a few more days.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-xrp-dot-xlm-sol

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coingenius.news/solana-theta-matic-price-analysis-16-may/?utm_source=rss&utm_medium=rss&utm_campaign=solana-theta-matic-price-analysis-16-may

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