23RD AUGUST LATEST CRYPTO NEWS DIGITAL MAGAZINE
The United States equities markets turned down sharply on August 19 after the minutes from the Federal Reserve’s July meeting showed that participants believed “that there was little evidence to date that inflation pressures were subsiding.” Additionally, Federal Reserve Bank of St. Louis President James Bullard said on August 18 that he favored another large rate hike in the September meeting as he did not believe that inflation had peaked.
This stoked fears that the Fed could continue with its aggressive rate hikes. The selling continued on August 22 as market participants speculated that Fed Chairman Jerome Powell may sound more hawkish during his speech on August 26 at the central banking conference in Jackson Hole.
The deteriorating macro environment and the close correlation with equities markets stalled the recovery in cryptocurrencies. Bitcoin witnessed a sharp drop on August 19 which resulted in liquidations of more than $551 million in a 24-hour period, according to data from crypto analytics platform Coinglass.
The bulls repeatedly pushed the price above the overhead resistance of $24,666 between August 13 to 15 but could not sustain the higher levels. The buyers again tried to clear the overhead hurdle on August 17 but the bears held their ground. This may have tempted short-term traders to book profits.
That pulled the price below the 20- day exponential moving average (EMA), which was the first sign that bulls may be losing their grip. The selling momentum picked up on August 19 and the BTC/USD pair plunged to the strong support at $20,715. The bulls have successfully defended the level for the past three days but the shallow rebound suggests that demand dries up at higher levels.
The downsloping 20-day EMA and the relative strength index (RSI) in the negative territory indicate advantage to sellers. The bears will again attempt to sink the price below $20,715. If they succeed, the pair could slide to the next support at $18,600. If this level also cracks, the decline could extend to the June 18 intraday low of $17,567.45.
The first sign of strength will be a break and close above the 20-day EMA. Such a move could open the doors for a possible rally to $24,666. A buying opportunity could open for the aggressive traders above $21,800 with the stops placed just below $20,700
Lastly please check out the advancement’s happening in the cryptocurrency world.
Enjoy the issue!
FEATURING IN THIS WEEKS EDITION
– Medabots
– MetaBrewSociety
– Globiance
– Age of Zalmoxis
– H2O Securities
– Coinhaven
– HoneyWood
– H2O Securities
– Coinhaven
CRYPTO TRADE OPPORTUNITIES
BITCOIN – BTC/GBP
The bulls repeatedly pushed the price above the overhead resistance of $24,666 between August 13 to 15 but could not sustain the higher levels. The buyers again tried to clear the overhead hurdle on August 17 but the bears held their ground. This may have tempted short-term traders to book profits. That pulled the price below the 20-day exponential moving average (EMA), which was the first sign that bulls may be losing their grip. Read more
ETHEREUM – ETH/GBP
We had warned in our previous analysis that if bulls fail to defend the 20-day EMA and the breakout level of $1,700, Ether could plummet to the 50-day simple moving average (SMA) and that is what happened. The ETH/USD pair plunged below $1,700 on August 19, signaling that the recovery was on a sticky wicket. Read more
RIPPLE – XRP/GBP
We suggested in our previous analysis that if bears sink the price below the 50-day SMA, XRP could slide to $0.32 and that is what happened. XRP turned down from the overhead resistance of $0.38 on August 18 and broke below the 20-day EMA Read more
CARDANO/USD
The bulls failed to push Cardano above $0.60 on August 17. This may have tempted short-term traders to book profits. The price broke below the 20-day EMA on August 18 and continued its downward journey on August 19. Read more
BINANCE – BNB/GBP
We said in our previous analysis that the failure to defend the 20-day EMA could pull the price to the 50-day SMA and that is what happened. Binance Coin dipped to the 50-day SMA on August 19 but started a rebound on August 20. Read more
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Age of Zalmoxis: Game Metaverse
Introduction
The Age of Zalmoxis is a Metaverse, which revolves around the ancient fantasy world. It is a MMORPG with Blockchain and NFT integration in a fantasy version of the Dacian Kingdom grounded in history, where threats from other realms emerge.
The game focuses on the Eastern European Kingdom of Dacia and it begins shortly after their ruler, First King Burebista, is assassinated. As the Kingdom shatters into tribes, Dacian nobles compete for leadership. Celtic, Roman, and Sarmatian armies prepare to invade and supernatural threats appear. Read more
Medabots: The Ultimate Gaming Universe for Gamers seeking Entertainment and Earning Opportunities.
MEDABOTS, the first AAA game on the blockchain, is not only allowing gamers to build their Medabots but it also allows them to participate in worldwide tournaments. Gamers have the opportunity to take on the best of the best across the globe for free while still earning rewards.
MEDABOTS is giving gamers more on gaming and investing through the Medabots Universe. Individuals have the option to participate for free or invest in the available NFTs. Since the Medabots inception, the roadmap has been clear with every launch released on time. In the year 2022, gamers have witnessed the “full adventure mode” launch earlier in the year. Later in the month of June, the Multi-player launch was a major success. More recently, the play-to-earn launch that occurred on 28th July focussed on the game’s ability to give monetary and non-monetary rewards. Read more
Free Beer, Multiple Giveaways as MetaBrewSociety’s Very First Mint Event Draws Nearer
MetaBrewSociety (MBS), the world’s first blockchain brewery, is set to breathe life into the antiquated beer industry. Combining the wonders of beer and blockchain, MetaBrew already has a collection of 6,000 unique NFTS ready for minting.
Per the company’s roadmap, however, minting won’t be a one-off event but a three-phased initiative scheduled for September 22nd( for members assigned an MBS discord whitelist role) September 23rd (parties who did order beer from MetaBrewSociety.com but have not joined the MBS discord community) and the 24th which will be the public mint event. Read more
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CRYPTONAIRE WEEKLY
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CRYPTONAIRE WEEKLY
Platinum Crypto Academy provides training to all individuals who wish to take advantage of the phenomenal opportunities that this digital currency revolution presents. Platinum has been providing trading education for over 5 years and is perfectly poised to support you in your quest to becoming a Cryptonaire.
QUICK LINKS
CONTACT DETAILS
CRYPTONAIRE WEEKLY
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