Author: msmark

BNB price is attempting a fresh increase from the $545 zone. The price could gain bullish momentum if it clears the $585 and $590 resistance levels. BNB price started a fresh increase after it found support near the $545 zone. The price is now trading above $560 and the 100 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $585 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could attempt a fresh rally if it clears the $590 resistance zone. BNB Price Eyes Fresh Surge After a downside…

It was another mixed day in the financial markets, as pre-NFP jitters had traders reacting quickly to leading U.S. jobs indicators. Meanwhile, a surprise build in crude oil inventories didn’t seem enough to stop the commodity’s rally, along with gold which carried on with its ascent to the $2,300 mark. Headlines: Earthquake of 7.5 magnitude near Taiwan reported, tsunami warnings issued in Japan Euro Area Flash CPI for March: 2.4% y/y (2.6% y/y forecast/previous); Core CPI at 2.9% y/y (2.8% y/y forecast; 3.1% y/y previous) Euro Area Unemployment Rate for February remained at 6.5% vs. 6.4% forecast ADP National Employment…

Ethereum price is struggling to recover above the $3,360 resistance zone. ETH is now showing signs of more losses below the $3,300 and $3,250 levels. Ethereum is facing many hurdles near the $3,350 and $3,360 levels. The price is trading below $3,350 and the 100-hourly Simple Moving Average. There was a break below a rising channel with support at $3,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if there is a close below the $3,200 support zone. Ethereum Price Signals Downside Ethereum price traded below the $3,300 level before the bulls appeared.…

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…

Bitcoin price is struggling to recover above the $67,000 zone. BTC could gain bearish momentum if there is a close below the $64,500 level. Bitcoin is facing many hurdles near the $66,500 and $67,000 levels. The price is trading below $67,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $66,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now at risk of a downside break below the $64,500 support zone. Bitcoin Price Upsides Remain Capped Bitcoin price started a consolidation phase after there…

The Japanese Yen draws some support from intervention fears, albeit lacking bullish conviction. The US-Japan rate differential and a positive risk tone seem to undermine the safe-haven JPY. The USD/JPY bulls might wait for a break of a short-term range before placing fresh bets. The Japanese Yen (JPY) ticks higher against its American counterpart during the Asian session on Thursday and looks to build on the previous day’s modest bounce from the vicinity of a multi-decade low. The increasing threat of intervention by Japanese authorities continues to lend some support to the domestic currency. Apart from this, the overnight US…

In the world of finance, words can sometimes be as powerful as actions. Known as “Fedspeak”, the speeches, statements, and even subtle remarks made by key figures within the Federal Reserve can cause significant ripples or even tidal waves across global markets. Understanding this phenomenon is crucial for traders seeking to navigate the ever-changing financial landscape.What is Fedspeak?Fedspeak refers to the public communication of Federal Reserve officials, including the Chair, Board of Governors, and regional Fed Presidents. These communications can range from formal speeches and congressional testimonies to interviews and seemingly off-the-cuff remarks.Why Does Fedspeak Matter?The Federal Reserve wields immense…

A new rug pull alert sounded on Tuesday after crypto detective ZachXBT unveiled on-chain details of an alleged hack suffered by an NFT project last month. The project’s CTO announced that a response was in the works but ultimately vanished as criticism grew. Nuddies NFT, A Hack Or Rug Pull? On-chain sleuth ZachXBT revealed the alleged misuse of funds by the CTO of NFT project Nuddies NFT.  In a now-deleted post, its CTO Kyle explained that the project was “derugged from its previous founder” and built differently from other NFT projects. A short investigation into how @kyledegods faked a hack…

A popular crypto trader is bullish on a blockchain gaming platform. The pseudonymous analyst known as Altcoin Sherpa tells his 213,600 followers on the social media platform X that he sees Gala (GALA) finding support at $0.053 and $0.046, which represent the 0.5 and 0.618 Fibonacci retracement levels. The analyst believes that GALA may bounce after hitting the Fibonacci areas. “GALA: buy here in green boxes if you like money.” Source: AltcoinSherpa/X GALA is nearing that range and trading at $0.0567 at time of writing. The 58th-ranked crypto asset by market cap is down more than 9% in the past…

2024.04.03 2024.04.03 Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 03.04.2024Roman Oneginhttps://www.litefinance.org/blog/authors/roman-onegin/I welcome my readers!I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.The article covers the following subjects:Elliott wave Bitcoin analysisThe BTCUSD market is forming a horizontal correction (4) as a contracting triangle A-B-C-D-E. The first two legs of the triangle, A and B, must have completed, and the Bitcoin price should be moving down in the C wave to a level of 62338.69, the lower construction line.Trading plan for BTCUSD today:Sell 66080.45, Take profit: 62338.69Elliott wave…