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.
Synthetic asset protocol for Polygon raises $1.5M from major investors.
Crypto poses an imminent threat to financial stability: Bank of England Deputy Governor.
DFG piles $12.6M into Astar Network’s Polkadot parachain bid
Paradigm unveils new $2.5B crypto fund
Crypto mining stocks dip as SEC issues subpoena for Marathon Digital mining facility.
Bitcoin falls from $66K highs, Tesla down 3% after Elon Musk warns he could sell more stock.
Litecoin grapples with ‘double top’ risks after LTC price rallies 37% in November.
WAX Price Analysis: Bears Overtake The WAX Coin Price Just After The Bull Run
ThorChain Price Analysis: $13.5 Breakout Can Drive The RUNE Coin Prices Higher
Ankr Price Analysis: Consolidation Range Breakout Drives The ANKR Coin Price Higher
XRP Analysis: XRP stays Sluggish amidst the price fall
Avalanche (AVAX) Analysis: Dips won’t tamper AVAX’s Bullish Rally
Will This Bullish Rally In Enjin Coin Suppress $4.00 Mark?
Decentraland Price Analysis: MANA Crypto Price Is Ready For Another Rally After Seeing Correction
Pancakeswap Token Trying to Jump Above Its Vital DMA Lines
Chiliz Coin Price Heading Towards the Major Supply Zone
Will Loopring Coin Bullish Move Continue till $5.00?
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Polygon’s synthetic asset protocol raises $1.5 million from significant investors.
Polysynth, a Polygon-based synthetic asset platform, has received funding from several DeFi venture capital and angel investors.
On November 15, the company announced a $1.5 million seed round, including participation from Jump Capital, DeFi Alliance, Hashed, and several individuals, including Alan Howard, co-founder of Brevan Howard Asset Management, and Polygon co-founders Sandeep Nailwal and Jaynti Kanani.
Polysynth indicated that the investment would be used to expand its team of engineers, designers, and marketers and conduct security audits for the protocol.
Cryptocurrency poses an immediate threat to financial stability: Deputy Governor of the Bank of England.
According to Sir Jon Cunliffe, the Bank of England’s (BoE) Deputy Governor for Banking Stability, crypto may pose an imminent threat to the traditional financial system.
Cunliffe warned on the BBC’s “Today” show on November 15 that the rapid expansion of digital assets and their integration with traditional financial services could soon pose systemic dangers.
DFG invests $12.6 million in Astar Network’s Polkadot parachain venture.
Polkadot’s first-ever parachain auction is heating up, with major Polkadot ecosystem projects contending for the coveted first position.
DFG Group, a worldwide blockchain investment firm with $1 billion in assets under management, said on November 15 that it had pledged 300,000 DOT tokens (worth $12.65 million) in favor of Astar Network’s parachain proposal.
Paradigm unveiled a new $2.5 billion crypto fund.
Paradigm, a cryptocurrency investment business, has announced a new $2.5 billion “New Venture Fund” to increase its investment in bitcoin firms and protocols.
Paradigm co-founders Fred Ahrsam and Matt Huang declared in a November 15 statement that “the fund and its magnitude are symptomatic of crypto being the most intriguing future in technology.”
The SEC releases a subpoena for Marathon Digital’s mining facility, causing cryptocurrency mining stocks to fall.
The Securities and Exchange Commission (SEC) of the United States has asked cryptocurrency mining company Marathon Digital Holdings to disclose papers and correspondence for one of its mining facilities in Montana.
According to a Monday filing with the SEC, Marathon Digital received a subpoena addressing an investigation into suspected violations of federal securities law linked to its Hardin, Montana data center.
Bitcoin falls from $66K highs, and Tesla drops 3% after Elon Musk warns that he may sell additional stock.
As US markets began on November 15, Bitcoin (BTC) challenged $65,000 as support after a weekend rally that ended in a pullback.
Litecoin is dealing with ‘double top’ dangers following a 37% increase in LTC price in November.
A 37 percent price increase in Litecoin (LTC) in November threatens fatigue, as the “silver cryptocurrency” appears to be creating a double top chart pattern.
The typical bearish reversal setup occurs when the price forms two successive peaks of about equal height, with each upside move met by a sharp drop toward a common support level known as the “neckline.”
WAX Price Analysis: Bears Overtake WAX Coin Price Just After Bull Run
With a rapid reversal on the 4-hour chart, the WAX coin price action develops bearish momentum. Furthermore, the bearish candlestick leads to a drop of more than 10%. The retreat to $0.66, on the other hand, has the potential to halt the decline.
The WAX price is bullish, with the price trading above a few key EMAs of 50, 100, and 200. Furthermore, the critical EMA remains in a positive alignment, bolstering the bullish push. However, the fall may soon test the 20-day EMA.
The coin price suggests lower price rejection; the pivot points imply resistance levels at $0.88 and $1.00 if the price breaks above these levels. On the other hand, the support levels are at $0.66 and $0.55.
ThorChain Price Analysis: A $13.5 Breakout Could Increase RUNE Coin Prices
On the 4-hour chart, the RUNE coin price is gaining strength towards the $12 support zone. Furthermore, the support zone corresponds to the 50% Fibonacci level. However, the price is unable to break beyond the $13.5 resistance zone. As a result, the breakout of this level will provide an excellent breakout entry opportunity.
The coin’s price rejection is lower; the pivot points imply resistance levels at $15 and $17 if the price breaks above. On the other hand, the support levels are $12.25 and $10.50, respectively.
Ankr Price Analysis: ANKR Coin Price Rises Due to Consolidation Range Breakout
The ANKR coin price rises after a bullish breakthrough of a consolidation range on the 4-hour chart. Furthermore, the support zone corresponds to the 50% Fibonacci level. However, the price is unable to break beyond the $13.5 resistance zone. As a result, the breakout of this level will provide an excellent breakout entry opportunity.
The coin’s price rejection is lower; the pivot points imply resistance levels at $0.16 and $0.19 if the price breaks above. On the other hand, the support levels are at $0.13 and $0.10.
XRP Analysis: XRP remains sluggish despite the price decline
XRP is not showing signs of a quick revival, but its current steadiness allows investors to forecast its future. As noted in the previous article, which you can read here, the coin remains in its previously computed support and resistance region. The market cap increased by 2% in a minute, while trading volume decreased by 16% throughout the intraday session. Since yesterday, the current market price has fallen by 2.2 percent. Minor decrements were recorded in the XRP/BTC and XRP/ETH pairs.
Avalanche (AVAX) Analysis: Dips will not derail AVAX’s Bullish Rally
Avalanche, abbreviated as AVAX, is surging with a safe bullish bias. The token encountered setbacks while attempting the climb but managed to maintain pace. On the other hand, the present trading volume has dropped by more than 15% in the last 24 hours. However, once the token enters the demand zone again, the price is likely to skyrocket. The volume/market capitalization ratio is 0.05635. The AVAX/BTC and AVAX/ETH pairs are underperforming marginally during the intraday session after the token had a pullback right before the current market price.
Will Enjin Coin’s Bullish Rally Suppress the $4.00 Mark?
Enjin Coin is trading near its central supply band while remaining above all critical moving averages on the monthly chart. The crypto asset is currently trading above all DMA levels of 20, 50, 100, and 200 days with significantly lesser volume activity. Bulls may reject the resistance zone in the current situation, and a breakout above the area will create new room for the bulls. Meanwhile, the sustained above-all DMA lines will provide more upside in the coming trading sessions, but more volume action is required to sustain higher sides.
Volume on the monthly chart is slightly lower and has to increase significantly to suppress its supply zone. Support is at $2.34 and $2.05 on the downside, and resistance is at $3.64 and $4.00 on the upside.
Decentraland Price Analysis: MANA Crypto Price Is Prepared For Another Rally Following a Correction
Decentraland currency is currently on a solid uptrend and is poised to break over the new high. In the following days, the MANA/BTC pair may also reach a new high.
Pancakeswap Token Attempts to Break Through Its Critical DMA Lines
On the monthly chart, the Pancakeswap token is consolidating below the critical moving averages. Furthermore, the volume activity on the chart is average and requires a significant increase to be sustainably positive. The bulls are attempting to seize the crypto asset, even though it is in a sideways motion and waiting for a positive breakout. The resulting supportive volume activity will attract more buyers when the coin maintains above its critical moving averages.
Volume activity on the monthly chart is average and must increase significantly for the next leg of a bullish surge. Lower-priced support is at $17.30 and $16.10, while higher-priced resistance is $23.80 and $26.67.
The price of Chiliz Coin is approaching the Major Supply Zone.
On the monthly chart, Chiliz currency is trading near its key supply zone and, above all DMA lines. The coin is heading higher after making a strong rebound from lower levels, and volume activity on the chart is also increasing. The CHZ token is placed above the DMA lines of 20, 50, 100, and 200 days on the monthly chart. Volume on the monthly chart must increase significantly to preserve the bullish chart pattern.
When the coin rises above its primary supply zone, the resulting supportive volume activity will attract more buyers in future sessions. Lower-priced support is at $0.440 and $0.380, while higher-priced resistance is at $0.6450 and $0.8920.
Will the Loopring Coin upward trend continue until it reaches $5.00?
Loopring coin price is trading on a strong note on the monthly chart and is still looking promising for additional upward momentum. Over the monthly chart, the crypto asset is in a robust uptrend, having increased over 10x from the monthly lows of $0.3685 to $3.85. The overall medium to long-term trend remains optimistic, with the cryptocurrency asset trading above all important DMA lines of 20, 50, 100, and 200 days. Furthermore, volume activity is increasing and has to improve further to move above $4.00.
The coin has already made a powerful climb from lower levels. Therefore the short-term trend is slight, indicating caution. Lower-priced support is at $2.62 and $2.02, while higher-priced resistance is at $3.36 and $3.85.
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