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XRP, Tron, Synthetix Price Analysis: 25 January

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XRP formed a bullish reversal pattern and was set to test the $0.3 level of resistance over the next few days. Tron showed bullish momentum as the recent spate of selling appeared to have ended. Synthetix surged to $17.7 from $14 and could reach $20 in the coming days.

XRP

XRP, Tron, Synthetix Price Analysis: 25 January

Source: XRP/USD on TradingView

XRP formed a descending broadening wedge and climbed above the pattern with above-average trading volume. This pattern projects a target of $0.31 for XRP, with a level of strong resistance at $0.3.

The Chaikin Money Flow was above 0 to show net capital inflow into the market, while the A/D indicator began to rise upwards over the past few days.

A dip back toward $0.272 is possible, but a further dip would likely invalidate the setup. Retesting the $0.26 level would imply short-term bearish strength.

Tron [TRX]

XRP, Tron, Synthetix Price Analysis: 25 January

Source: TRX/USDT on TradingView

Over the past week of bearish pressure, TRX found support at the $0.027 horizontal level of support, as well as the 4:1 Gann fan line, to bounce toward the $0.032 level of resistance.

The RSI rose above neutral 50 and retested it as support to indicate an uptrend in progress. At the time of writing, the Stochastic RSI was in the overbought territory even as the RSI was climbing. This does not imply an immediate pullback, but there is a possibility of rejection once more at the $0.032 level.

This would see TRX revisit the $0.03 region of support.

Synthetix [SNX]

XRP, Tron, Synthetix Price Analysis: 25 January

Source: SNX/USDT on TradingView

SNX flipped the $14 level to support after a dip to test the $11.2 level of support. Since flipping $14, SNX has surged past the $16.5-$16.8 region that was expected to offer some resistance.

The Awesome Oscillator showed strong bullish momentum, while the trading volume was also significantly high over the past few trading sessions. These factors taken together hinted at strong market conviction that could take SNX to $20.78 in the coming days.

The Directional Movement Index also saw the ADX (yellow) climb above 20 to indicate the presence of a strong trend. The +DI (blue) showed the bullish nature of this trend.

Source: https://ambcrypto.com/xrp-tron-synthetix-price-analysis-25-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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