Today, we’re going to be talking about the latest news in the crypto sector. Before we proceed, let’s outline the salient Highlights in this video.
Obscure Omicron token spikes 900% after new variant emerges.
UK digital services tax targets crypto exchanges
Bitcoin risks lowest weekly close in 2 months, but BTC buyers stock up at $53K.
Bitcoin AUM falls 9.5% to record the largest monthly pullback since July.
El Salvador celebrates Black Friday, buys 100 BTC for 20% off.
Polygon Price Analysis: MATIC/USD set to break the intraday highs of $1.69
Solana Price Analysis: SOL/USD to break below $185 in the next 24 hours
Tezos Price Analysis: XTZ/USD to spike to $5.5 next
Chainlink Price Analysis: LINK/USD is bearish for the next 24 hours
MuesliSwap stokes Twitter controversy following the 28th November Cardano listing.
Cardano price analysis: ADA falls to $1.50. Can the bulls defend the level?
Polkadot price analysis: DOT to test support at $32, support at $33.9 already crushed
Ethereum Price Analysis: ETH rejects further downside at $4,000, moves into consolidation?
Aave price analysis: Bearish trend aggravates as price experiences downfall to $225
ATOM Price Analysis: Will ATOM Token Price Break The $26 Support Level?
Avalanche Price Analysis: Is The End Near For The Bull Run of AVAX Coin?
Loopring Price Analysis: The Technical Chart Hints At A Double Bottom Pattern In The LRC Token
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The value of the obscure Omicron token has increased by 900 percent due to the appearance of a new version.
Omicron (OMIC), a relatively unknown cryptocurrency, has reached an all-time high Today after a new fast-spreading COVID-19 variation was given the same name.
During the Monday morning Asian trading session, Omicron’s OMIC token reached an all-time high of $689. The move had added another 200 percent gain for the day and a stunning 945 percent gain since Saturday when it was trading around $65.
The UK digital services tax is aimed at cryptocurrency exchanges.
According to a recent modification to Her Majesty’s Revenue and Customs (HMRC) laws, a digital services tax will be paid on cryptocurrency exchanges operating in the United Kingdom.
According to a Telegraph article, cryptocurrency exchanges in the United Kingdom will now be required to pay a 2% digital services tax. Because the UK’s tax authorities, HMRC, do not consider digital assets financial instruments, exchanges do not qualify for financial exemptions.
On November 28, the authority added cryptocurrency exchanges to the Treasury’s technology tax. The digital services tax on revenue was implemented in April 2020 to target social media and search companies like Facebook and Google.
Bitcoin faces its lowest weekly close in two months, but buyers are stocking up at $53K.
Bitcoin remains appealing to seasoned hodlers, as $50,000 has now become the point where confidence may give way to concern.
Bitcoin (BTC) was hovering around $54,000 on November 28 as the impending weekly close appeared to be heading for two-month lows.
Bitcoin AUM falls 9.5 percent, marking the greatest monthly drop since July.
While Bitcoin’s (BTC) status as a potential hedge against fiat inflation continues to entice investors, fresh data shows a shift in opinion as Ethereum (ETH) and other cryptocurrency products gain traction in the face of plummeting Bitcoin assets under management (AUM).
According to a CryptoCompare analysis, the Bitcoin AUM market declined 9.5 percent to $48.7 billion in November, the year’s greatest month-on-month drop since July. On the other hand, Altcoin-based crypto funds saw their AUM climb 5.4 percent to $16.6 billion.
El Salvador celebrates Black Friday by offering a 20% discount on 100 BTC purchases.
Salvadoran President Nayib Bukele again purchased the dip, spending more than $5 million in Bitcoin after the price fell below $54,000 on Friday.
El Salvador’s president announced in a Friday tweet that he had purchased 100 Bitcoin (BTC) following a global market sell-off in response to the discovery of a new COVID-19 strain in South Africa. According to Cointelegraph Markets Pro statistics, Bitcoin has dropped more than 20% after reaching an all-time high of $69,000 on November 10 to $54,343 at the time of publication, an 8 percent decrease in less than 24 hours.
MATIC/USD is expected to break intraday highs of $1.69, according to Polygon Price Analysis
Today’s triangular price pattern is bearish, as we expect another dip to be followed by a recovery. Since the $1.55 support level was re-established, MATIC/USD should recover part of its losses during the following 24 hours.
Today, the Awesome Oscillator shows red bars as MATIC/USD continues to fall. Because the triangle price pattern is bearish Today, MATIC/USD should recover some of its losses during the following 24 hours. The loss of another $0.2 against the US dollar overnight impacted sentiment toward this cryptocurrency.
Solana Price Prediction: SOL/USD will fall below $185 in the next 24 hours.
Solana appears to be bearish on the price charts Today. We believe that the current bull run will not endure long and that another low peak will be recorded soon. Following a break above $185, SOL/USD should restart its overall bearish trend and attempt to break above $185.
The moving average has begun a strong upward trend and will shortly surpass the upper Bollinger band. This will signal continued bullish momentum, and we may expect SOL/USD to rise further in the next few days.
Tezos Price Prediction: XTZ/USD to Reach $5.5 Next
Tezos is still under negative pressure Today, and we expect another drop once the current consolidation period expires. The XTZ/USD pair remains in a very bearish trend, signaling that the current lower low will not be enough to cause sellers to halt trading.
XTZ/USD is a little more than a percent lower, although it has dropped by 5%. The most striking point on the chart is the break of the lower highs and lows that began to build after July 23. With the current dip below $1.10 below, this signals more bearish momentum in XTZ/USD, which is troubling news for traders holding long positions in the market. A current support level has formed around $1.15, which will need to be tested to continue Today. In an ideal case, this would be expected due to consolidation or just normal market movement between markets.
Chainlink Price Prediction: LINK/USD will fall in the next 24 hours.
Chainlink price analysis is negative Today, as we expect another lower low to be struck beyond the current support at $23, signaling the end of a severe 5% drop. The next significant support level for LINK/USD is anticipated at around $22. It is expected to be breached during the next 24 hours.
The bitcoin market is seeing mixed news flow, with regulators favorably boosting business development and financial institutions looking to examine blockchain solutions.
MuesliSwap stirs up Twitter uproar after listing Cardano on November 28
MuesliSwap had a rocky start in the decentralized exchange (DEX) arena. On November 28, the Swiss crypto company announced its listing on the Cardano Blockchain (BC). As a result, it rose to the position of premier DEX on the BC.
Despite its accomplishment, MuesliSwap became entangled in a Twitter debate. Several platform users expressed reservations about the project’s validity. They cited numerous factors that they believed made MS suspect.
Cardano price analysis: ADA falls to $1.50; can bulls hold?
According to the Cardano price study, after falling to $1.50, ADA could not recover to $1.60 and has since continued to slide after establishing a lower high at $1.585. The price is currently hovering above the $1.50 support level, but there is still room for decline if the selling continues.
Polkadot pricing analysis: DOT to test support at $32, $33.9 support already crushed
Today’s Polkadot price analysis is bearish. DOT/USD has failed to find support, as the previous support level of $33.9 has already been breached due to selling pressure. However, DOT found some support around $33, but the downtrend has resumed as the bears regained control of the price function. The DOT is predicted to continue losing value Today before regaining in the next trading session.
Ethereum Price Analysis: Does ETH reject further declines at $4,000 and enter a period of consolidation?
Today’s Ethereum price analysis is positive, with additional gains expected over the next 24 hours after a higher low was set near $4,000 yesterday. Alternatively, if a lower high is hit later Today, ETH/USD may begin to consolidate in an increasingly narrow range.
Aave price analysis: The bearish trend worsens as the price falls to $225.
The most recent Aave price analysis indicates a downtrend, as the price has dropped significantly in the last 24 hours. When we look at the market as a whole, we can see that the last several weeks have been quite beneficial to purchasers. A consistent downturn has been on the rise. A similar trend was witnessed Today, presenting possibilities to purchasers waiting for a cheaper price, as the market price of AAVE/USD was dragged down to a low of $225.57.
ATOM Price Prediction: Will the ATOM Token Price Break Through the $26 Support Level?
On the daily chart, the ATOM token price movement shows a pullback in the ongoing ascent. However, the price movement suggests the construction of a double bottom pattern near the $26 line. As a result, a bullish reversal can gain significant traction.
Furthermore, the token price shows rising bearish momentum; yet, the pivot point implies support levels between $20 and $12 if the price continues to rise. On the other hand, the support level is at $36 and the $45 mark.
Avalanche Price Analysis: Is the AVAX Coin Bull Run Coming to an End?
The Moving Average (EMA) is a reliable support for currency price movements in the AVAX coin daily price chart, which has 8,13,21,55 EMA. Price increases above the yellow line ensure an uptrend as long as prices are above the moving average, according to investors.
Volume (748.930 K) is lower than the 20-day moving average (4.505 M). Because the volume is modest, the cost has received a minor adjustment. Investors may also notice a drop in volume. This signifies that unusual changes are to be expected in the coming trade days.
Loopring Price Analysis: The LRC Token’s Technical Chart Indicates A Double Bottom Pattern
On November 10, the LRC token reached a new all-time high of $3.85 and entered a corrective phase. This decline drove the token price down to $2.2, where it found adequate support from the 20-day EMA to retest the overhead resistance.
On November 25, the LRC price climbed again to the $3.85 resistance level, intending to break through and continue its rally. However, the price was rejected by the tremendous selling pressure at this level, and the entire structure now resembles a double top pattern.