BTC, ETH, XRP, NEAR, HBAR, RAY, EGLD — Technical Analysis Sept 9
Bitcoin (BTC) created a long lower wick after bouncing at the $44,000 horizontal support area.
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Ethereum (ETH) and XRP (XRP) are trading above horizontal support levels.
Near Protocol (NEAR) reached a new all-time high price on Sept 9.
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Hedera Hashgraph (HBAR) has broken out from a long-term descending parallel channel.
Raydium (RAY) has bounced at the $10 horizontal support area.
Elrond (EGLD) has broken out from an ascending parallel channel.
BTC
After reaching a high of $52,950, BTC dropped on Sept 7 and reached a low of $42,483 the same day. However, it bounced back after reaching support and created a long lower wick (green arrow).
Due to the bounce, BTC validated the Supertrend line (green) and the $44,000 horizontal area as support.
However, technical indicators have turned bearish. The MACD is negative and the RSI is below 50.
Therefore, even though BTC is holding above support, technical indicators are turning bearish.
BTC Chart By TradingView
ETH
On Aug 31, ETH managed to break out from the $3,330 resistance area and proceeded to reach a high of $4,027 on Sept 3.
However, it fell sharply four days later and reached a low of $3,005. It rebounded after making this low and created a long lower wick.
Technical indicators are mixed. While both the MACD and RSI are decreasing, the former is positive and the latter is above 50. In addition to this, the RSI has generated a hidden bullish divergence.
Long-term indicators are showing bearish signs and the wave count suggests that a top has been reached.
XRP
On Aug 13, XRP broke out from the $1.05 horizontal resistance area and validated it as support six days later.
The ascent continued with a breakout from a symmetrical triangle, which led to a high of $1.41 on Sept 6.
However, XRP experienced a sharp drop on Sept. 7, which was preceded by bearish divergences in both the RSI and MACD.
While XRP is still holding above the $1.05 support area, it’s possible that the bullish impulse is complete and XRP is now correcting.
NEAR
On Sept 7, NEAR broke out above the $7.80 horizontal resistance area amid a considerable bullish candlestick. The breakout occurred with very significant volume.
NEAR has been increasing since then and reached a new all-time high price of $11.88 on Sept 9. The high was made just above the 1.61 external Fib retracement level when measuring the most recent drop.
If the upward move continues, the next resistance would be found at $17.27. This target is the 2.61 external Fib retracement level.
Neither the MACD nor RSI is showing any signs of weakness.
HBAR
HBAR had been decreasing inside a descending parallel channel since March 15. The downward movement continued until a low of $0.1382 was reached on June 22.
HBAR has been moving upwards since, and on Aug 14, it broke out from the parallel channel. It dropped back to validate the resistance line of the channel as support (green icon) on Sept 8.
Currently, HBAR is attempting to break out from the $0.34 horizontal area. If it does, the next resistance level would be at $0.42.
Both the MACD and RSI are increasing, supporting the possibility of a breakout.
RAY
RAY had been moving upwards in August and on Aug 28, it reached a high of $17.80.
A drop followed to validate the $10 area as support on Sept 8, and RAY has been increasing since.
If it’s successful in breaking out above the current resistance, the next resistance area would be found at $22.60. This is the 1.61 external Fib retracement resistance level.
EGLD
EGLD had been increasing inside an ascending parallel channel since June 22. On Aug 10, it managed to break out and validate the resistance line of the channel as support (green icon). Following the validation, EGLD experienced a strong rebound.
Currently, EGLD is attempting to move above the $205 horizontal resistance area. Doing so would likely take it towards a new all-time high.
For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
Elrond Blockchain Assets & EGLD Now Supported by Digital Custody Services Provider Copper.co
Elrond Blockchain Assets & EGLD Now Supported by Digital Custody Services Provider Copper.co
Copper.co, a leading digital custody services provider announced today it would offer custody services for Elrond’s native coin EGLD and other digital assets issued on the high-performance, institutional-grade Elrond blockchain.
Copper.co to Support Elrond-Based Digital Assets
According to an announcement made today, Copper.co, a pioneering institutional-grade digital assets custody service provider will provide custody services to the EGLD digital currency and all Elrond-based assets.
For the uninitiated, EGLD is the native digital currency of the decentralized, high-performance smart contract platform, Elrond network.
Among its other use-cases, EGLD is primarily used for transaction fees, and staking on the Elrond consensus layer. In addition, EGLD powers decentralized finance (DeFi) products and helps in the issuance of tokenized assets and non-fungible tokens (NFTs) on the Elrond blockchain.
Notably, Copper leverages the security of MPC (Multi-Party Compution) technology to power its multi-award-winning digital assets custody solution. The custody services provider’s technological offerings are battle-tested across more than 250 digital assets, over 40 exchanges, and are currently being used by more than 300 institutional asset managers.
The partnership will enable institutional players, fund managers, exchanges, trading platforms, and other relevant market players to avail safe, secure, and compliant access to the Elrond Network, an enterprise-grade, high-throughput, low cost, and carbon-negative blockchain protocol and its native digital currency, EGLD.
Commenting, Beniamin Mincu, CEO, Elrond Network, said:
“Best in class digital asset custody services are essential for making the rapidly expanding Elrond ecosystem accessible to more institutional actors, markets, and geographies. With Copper as a robust custodian for assets on the Elrond Network, a new growth chapter is ready to begin for the internet-scale blockchain.”
Similar sentiments were echoed by Alex Ryvkin, Chief Product Officer at Copper.co. He said:
“By expanding our portfolio of integrated technologies to include the highly innovative and carbon-negative Elrond Network, we reaffirm our commitment towards our customers to enable safe, secure, and transparent access and control over the most innovative and sustainable digital assets.”
To learn more about Elrond, consider visiting its website here.
Bitcoin, ETH et Elrond (eGLD), futures monnaies légales au Panama ?
Un projet de loi au Panama souhaite permettre l’utilisation de plusieurs cryptomonnaies à travers le pays. 5 actfs sont proposés parmi lesquels bitcoin (BTC), ethereum (ETH), elrond (EGLD), tether (USDT) et de manière plus surprenante, un inconnu au bataillon le Zeven Utility Token (7UT).
Le Panama se tourne vers les cryptos
Ce lundi 6 septembre 2021, le député indépendant et membre du Congrès panaméen, Gabriel Silva a présenté un projet de loi (Entièrement disponible sur Google Drive) visant à faire du Panama « un pays compatible avec l’économie numérique, la blockchain, les cryptomonnaies et Internet ».
L’homme politique a annoncé la nouvelle sur son compte Twitter quelques heures plus tard :
Gabriel Silva sur Twitter
« Aujourd’hui, nous vous présentons la loi Crypto. […] Elle a le potentiel de créer des milliers d’emplois, d’attirer des investissements et de rendre le gouvernement plus transparent » déclare Gabriel Silva sur Twitter
Nous vous avions déjà parlé de ce cher Gabriel Silva dans la cadre d’un précédent article. Le député aux yeux lasers (incarnation symbolique de tout son soutien pour le bitcoin) enfonce donc le clou avec un proposition concrète.
L’intéressé propose notamment que les cryptomonnaies soient utilisées partout comme moyens de paiements au Panama. Mais plus surprenant, il projette également que les citoyens du Panama puissent régler leurs impôts avec.
Extrait du projet de loi (Entièrement disponible sur Google Drive)
Le projet de loi mentionne un total de 5 cryptomonnaies. Si la présence de Bitcoin, d’Ethereum ou du stablecoin de reference USDT n’étonnera personne, on notera de manière plus surprenante la présence du eGLD du projet Elrond Network, et surtout celle de l’obscur token 7UT. Cet actif, évoluant sour la forme d’un jeton Ethereum ERC-20 est un véritable inconnu au marketcap. Associé à une initiative présentée comme “verte” et au wallet HYT, on n’en retrouve qu’une trace (très limitée) sur Etherscan, ce qui devrait, au-delà du contexte, inciter à la plus grande prudence.
Venez vous exposer au Bitcoin aux côtés de Binance, l’acteur leader du secteur ! «
Une nouvelle déjà relayée (et déformée)
Il n’aura pas fallu longtemps pour que la nouvelle se répande, notamment sur Twitter, certains annonçant parfois sans ambages que le Panama accepterait désormais le bitcoin. Malheureusement, pour l’instant, et aussi intéressante et inédite soit-elle, l’initiative ne relève que du simple projet de loi.
On retrouve ainsi quelques crypto-enthousiastes commentant :
« Le Panama vient de dévoiler le projet de sa nouvelle loi sur les crypto-monnaies. Le meilleur : – cours légal y compris pour payer les impôts – cadre légal des échanges, DEX, ICO, NFT, mining – pas seulement btc mais aussi ethereum »
Patrick Aljord sur Twitter
Contrairement au Salvador, il est a noter que le Panama n’obligerait pas les commerces à accepter le bitcoin (BTC) ou une autre cryptomonnaie comme moyen de paiement. Il s’agirait simplement de pouvoir les proposer de manière encadrée.
« Donner une sécurité juridique, réglementaire et fiscale à l’utilisation, à la possession et à l’émission de valeurs numériques et de cryptomonnaies au sein de la République du Panama » détaille le projet de loi…
Actuellement, les cryptomonnaies ne sont pas interdites au Panama. En effet, la constitution du pays ne permet pas au gouvernement d’imposer une devise nationale. Depuis 1904, le Panama a néanmoins adopté le dollar américain en guise de monnaie courante. Le balboa, une devise locale adossée au dollar, circule également dans le pays.
Même si cette démarche législative a en l’état peu de chance d’aboutir, il est toujours très stimulant de voir des hommes politiques soutenir publiquement les cryptomonnaies. Considérant que nous sommes encore à l’aube de leurs démocratisations. Reste à savoir quelle sera la réaction du congrès Panaméen face à ce vote ? La semaine dernière, le Honduras installait ses premiers distributeurs automatiques de Bitcoin, le Panama va-t-il les rejoindre ?
Que vous soyez amateur d’eGLD, de Bitcoin ou d’une des cryptomonnaies qui peuplent le marché, il est indispensable que vous disposiez d’un compte sur Binance, l’acteur majeur de l’écosystème du trading (lien affilié)