Solana (SOL)

In a vibrant start to the week, Bitcoin is registering a modest increase of nearly 0.50%, trading at $26,647. This uptick coincides with notable developments in the crypto landscape.

Financial educator Robert Kiyosaki has voiced his strong reservations about traditional fiat currency, going as far as to label it 'criminal money,' while throwing his weight behind cryptocurrency.

On the platform front, FTX has efficiently manoeuvred past a recent cybersecurity breach, ensuring full access to its Claims Portal.

Parallelly, in the political arena, Senator Elizabeth Warren's cryptocurrency bill draws attention and amasses considerable support among her US legislative peers.

Robert Kiyosaki's Perspective on Fiat Currency vs. Cryptocurrency

Renowned author Robert Kiyosaki has expressed his support for cryptocurrencies, especially Bitcoin, labeling traditional fiat currencies as "criminal money."

Kiyosaki, who predicts Bitcoin will reach $120,000 within the next year, cautions about an imminent economic crisis and advocates for digital assets as a protective refuge.

His optimism for Bitcoin arises from his faith in its resilience and its potential to bounce back after market slumps, primarily influenced by upcoming halving events.

He contends that fiat currencies, including the US dollar, are headed for depreciation due to extensive monetary injections into the economy, resulting in rampant inflation.

Although Kiyosaki links inflation and its anticipated repercussions to the green energy policies under President Joe Biden, recent data challenges this claim.

Bank of America states that such policies have generated over 86,000 clean energy jobs, 50,000 of which are in the electric vehicle sector, with projections of an additional 1.5 million jobs in the upcoming decade.

Kiyosaki's consistent critique of the US government's and the Federal Reserve's monetary strategies aligns with his prediction of a substantial economic downturn. He champions Bitcoin and other cryptocurrencies as sturdy assets in the face of the forecasted storm.

In light of these developments, BTC/USD is witnessing a favourable price movement today, with investors increasingly viewing Bitcoin as a potential safeguard against fiat currency devaluation and broader economic unpredictability.

FTX Resumes Full Access to Claims Portal Following Cybersecurity Breach

FTX, the cryptocurrency exchange, has fully reinstated access to its claims portal for users affected by its November 2022 collapse, following a recent cybersecurity breach.

In response to a cyberattack on claims manager Kroll in August, FTX had frozen certain user accounts, but it has now unfrozen all affected accounts and fortified the portal's security.

In August, there was a breach that involved a "SIM swapping" attack on a T-Mobile US account. The account was linked to an employee of Kroll, which led to unauthorized access to the personal data of bankruptcy claimants.

The affected companies include FTX, Blockfi, and Genesis. Kroll stated that there is no evidence to suggest that other systems or accounts were affected by this incident.

FTX has received approval from a bankruptcy judge to liquidate its digital assets, which are valued at over $3.4 billion. As a result, the cryptocurrency market, including BTC/USD, may experience a positive impact on prices.

This is due to increased confidence in FTX's recovery efforts and overall market sentiment. FTX holds significant amounts of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), which will be used to repay creditors.

Cryptocurrency Bill by Senator Elizabeth Warren Gains Momentum Among US Lawmakers

Nine US lawmakers have expressed their support for the Digital Asset Anti-Money Laundering Act, which is a bipartisan bill that was reintroduced by Senators Elizabeth Warren, Roger Marshall, Joe Manchin, and Lindsey Graham.

The aim of this legislation is to enforce anti-money laundering and counter-terrorism financing regulations for cryptocurrency companies.

However, experts are concerned about how this move could potentially impact the privacy and personal freedom of cryptocurrency users.

The bill was initially introduced by Senator Warren in December, and then reintroduced in July. Recently, several additional senators have announced their support for it.

The bill has received endorsements from various organizations, such as the Bank Policy Institute and Transparency International US, all of which are focused on curbing illicit financial activities that involve cryptocurrencies.

This news may have contributed to the recent rise in BTC/USD prices, signaling increased regulatory attention in the crypto sector and potentially boosting investor confidence in cryptocurrency markets' legitimacy and security.

Bitcoin Price Prediction

Bitcoin's technical analysis shows a slight bearish tendency. Currently, Bitcoin is stable near the $26,800 resistance, just above the $26,500 support, indicating a potential double-top pattern.

An existing downtrend at $26,750 might limit its ascent. Breaking it could aim for $27,000, with $27,600 as a major barrier before reaching $28,000.

Bitcoin Price Chart - Source: Tradingview

Conversely, failing to exceed the $26,750 could lead to a decline to $26,000 or even $25,250. Several technical indicators hint at a possible bullish shift.

The $26,500 level is pivotal for investors: prices above suggest buying, while below signal selling.

Top 15 Cryptocurrencies to Watch in 2023

Get ahead of the game in the world of digital assets by checking out our carefully curated selection of the top 15 alternative cryptocurrencies and ICO projects to watch for in 2023.

Our list is compiled by industry experts from Industry Talk and Cryptonews, so you can expect professional recommendations and valuable insights for your cryptocurrency investments.

Stay updated and discover the potential of these digital assets.

See the 15 Cryptocurrencies

Find The Best Price to Buy/Sell Cryptocurrency

Crypto Price Tracker - Source: Cryptonews

Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication - cryptocurrencies are highly volatile investments with considerable risk, always do your own research.

Toncoin (TON), the native cryptocurrency of The Open Network, has entered a significant price rally, after its recent partnership with Telegram. The TON price has rallied all the way to $2.50 and is currently eyeing the next milestone of $3.

As of press time, TON is trading at a price of 12.21% at $2.38 with a market cap of $8.2 billion. With the recent price surge, Toncoin has toppled the likes of Solana to become the ninth-largest cryptocurrency by market cap. If the TON price rally continues to $3, it can even overtake Cardano during the recent surge.

Over the last week, the TON price has surged by more than 35%, while it has gained over 66% over the last month. If the bulls can push the price past the $2.66 level, there’s a good chance it could rally up to the $3 mark. However, if the price falls below the $1.95 support level, it may test the next support at $1.63. Despite the generally bearish market conditions, TON’s price has shown remarkable resilience with a strong bullish momentum.

Additionally, the TON/USD price is in an overbought condition, as evidenced by the stochastic RSI, which is currently below its signal line at 85.71. This situation could lead to a short-term decline or a phase of market consolidation as traders either take profits or look for a more favorable entry point.

Furthermore, should the stochastic RSI fall below the 70 threshold, it could indicate a weakening of bullish momentum and potentially signify an impending reversal in the price trend.

Toncoin Telegram Partnership

The recent performance of Toncoin over the weekend was significantly influenced by its partnership with Telegram. Furthermore, the excitement surrounding Toncoin received a substantial boost with the announcement of Telegram’s integration of the crypto wallet Ton Space.

Telegram, known for its vast user base, has generated substantial enthusiasm among traders and investors through its collaboration with Toncoin. It will be interesting to see whether TON price breaks past

As cryptocurrencies continue to evolve, two key consensus mechanisms have emerged for validating transactions on the blockchain: proof-of-work (PoW) and proof-of-stake (PoS). This explainer will examine how these protocols differ and the unique benefits and drawbacks of each.

Consensus Mechanisms in Cryptocurrency

Proof-of-work (PoW), first introduced by Bitcoin in 2009, requires miners to compete to add new blocks to the blockchain. By expending significant computational power, miners prove that the work was done to validate transactions.

Bitcoin mining is frequently misconstrued as miners tackling mathematical puzzles, a myth debunked in an editorial by the BTC mining pool, Braiins. In reality, the procedure resembles a lottery, where a mining pool’s hashpower directly influences its odds of discovering a block. It’s not about racing to solve complex equations, but more about sheer chance and persistence.

The first miner to win the race and discover a block is rewarded with newly minted cryptocurrency. PoW relies on decentralized consensus – no single entity controls the network. However, its critics consider it incredibly energy-intensive.

Proof of stake, first conceptualized in a bitcointalk.org thread in 2011, works differently than PoW. Rather than miners, PoS networks have “validators” who stake or lock up their coins to participate in transaction validation.

The idea is that staking coins aligns incentives between token holders and the network. In some versions of PoS, validators are randomly selected to propose new blocks, rather than competing to discover them.

In PoS, when the network requires a new block, the consensus protocol gives a random staker the privilege to validate the next block. This selection is lottery-based, influenced by each staker’s proportion of the overall staked assets. Naturally, a staker with a heftier stake stands a higher likelihood of mining the upcoming block and clinching the lottery.

Comparing PoW and PoS and the Future of Cryptocurrency Consensus

PoS advocates consider this much less computationally expensive. However, PoS networks are considered susceptible to various attacks, like censorship, whales manipulating consensus, Sybil attacks, and the nothing-at-stake attack.

The first implementation of PoS was the Peercoin (PPC) network crafted by the anonymous Sunny King. The second-largest network, Ethereum (ETH), changed over from PoW to PoS last year with “The Merge.” In September 2023, among the leading ten crypto assets, a mere two of them are PoW-centric coins – bitcoin (BTC) and dogecoin (DOGE).

Some PoS networks like Cardano and Solana launched with staking built-in. Others like Polkadot use unique hybrid models. PoW advocates argue proof of work is more decentralized and secure, as the barrier to entry is higher for miners.

PoS proponents believe proof of stake is the future, enabling faster, cheaper transactions. Both have trade-offs. Hybrid models aim to combine the best of both worlds.

The debate rages on over which method is superior. However, it is clear PoW and PoS will coexist as crypto continues to disrupt financial and technological paradigms. The innovations produced by this competition will shape the future of digital assets.

What do you think about the differences between PoW and PoS? Share your thoughts and opinions about this subject in the comments section below.

A closely followed crypto strategist believes that Solana (SOL) is still in a downtrend despite last week’s surge.

Pseudonymous analyst Altcoin Sherpa tells his 196,300 followers on the social media platform X that Solana is facing a key resistance level at around $19.50.

According to the analyst, Solana has been printing bearish lower-high setups ever since hitting its 2023 high of $32.30 in July.

“Would be cautious on this current move up. It’s nice to see some recovery but every rally the last few weeks has resulted in just a lower high. Regardless, if you’re in it for an investment, it cant be bad to accumulate sub-$20.”

At time of writing, SOL is trading for $19.04, up over 8% from its seven-day low of $17.57.

Should SOL’s latest rally fade, Altcoin Sherpa says that the $14 level could act as support. However, he warns that SOL’s prospects of staying above $14 all depend on how the bankrupt crypto exchange FTX liquidates its massive Solana trove to the tune of $1.16 billion.

“This one should take a while to form a bottom though. I don’t know if the FTX stuff is ‘priced in.’ The next few months will be very interesting to see how the price reacts to the large supply on the market.”

While Altcoin Sherpa is sounding the alarm about FTX’s large Solana holdings, investor Chris Burniske tells his 263,400 followers on the social media platform X that only a tiny amount of the defunct crypto exchange’s SOL trove is liquid.

“Only ~13% of FTX’s SOL holdings are liquid.”

Burniske, who is a partner at the crypto-focused venture capital firm Placeholder, says that he’s long-term bullish on SOL despite its FTX baggage.

“ETH and BTC both have baggage and have made new ATHs (all-time highs) in each major expansion. Every human is flawed, every institution is flawed and every coin is flawed.

In other words, we all have baggage, and many of us, be it a human, institution, or coins, continue to make new ATHs.”

A trio of celebrities have settled lawsuits against them related to sponsorship deals struck with the failed crypto-exchange FTX before it collapsed last year.

Trevor Lawrence, an NFL quarterback for the Jacksonville Jaguars, reportedly settled a suit that accused him of misleading investors in FTX for an undisclosed sum. Youtubers Tom Nash and Kevin Paffrath also agreed to settlements, but the terms were not disclosed.

These developments were first reported by Bloomberg News.

Before FTX collapsed, Lawrence had signed a sponsorship deal with Blockfolio, an FTX subsidiary, in 2021. According to a filing submitted to the U.S. Bankruptcy Court on August 31, Lawrence received $205,555.35 from the company.

Shaq Got Nearly $750,000 From FTX Amid Millions In Celebrity Deals

At the time, FTX's then-COO Sina Nader told Decrypt that sponsorships with Lawrence and other celebrities helped to ensure taboos around cryptocurrency were "officially shattered."

"When it comes to my crypto portfolio, I wanted a long-term partner in the space that I could trust," Lawrence said at the time of the Blockfolio deal. The athlete has not commented on the settlement or the Bloomberg report.

Nash, a prominent YouTube influencer with 289,000 subscribers, was also paid by FTX for an endorsement, according to a class-action complaint filed against him and other influencers by the Moskowitz Law Firm in March.

After FTX collapsed, the complaint states, Nash and other influencers scrubbed their channels of any content touting the company or its disgraced founder Sam Bankman-Fried.

Nash, who is a citizen of Australia, did not initially respond to the lawsuit, prompting Moskowitz to request a federal judge to allow them to serve the lawsuit through a tweet.

Top NFL Prospect Trevor Lawrence Signs Deal with Blockfolio, Will Receive Bonus in Crypto

Paffrath, another influencer with a following of 1.88 million subscribers on his ‘Meet Kevin’ YouTube channel, acknowledged in a video on November 17, 2022 that he was previously sponsored by FTX, something that he called a "scar" that he regretted.

In a second video on March 16, one day after being included in Moskowitz's class-action lawsuit, Paffrath doubled down on blaming SBF for the fraud. He described suggestions that influencers contributed to losses from FTX’s fraud as "ludicrous.”

These three are part of a longer list of celebrities who FTX worked to cultivate before its demise. Among others now facing legal action for partnering with the exchange are former NFL quarterback Tom Brady, his ex-wife Gisele Bundchen, former NBA player Shaquille O’Neill, and tennis star Naomi Osaka.

FTX Gets Court Approval to Sell Billions in Bitcoin, Ethereum and Solana

News of these settlements arrive after FTX was hit by a cyber-attack that briefly shut down an online portal for former clients to submit reimbursement claims. Meanwhile, a federal judge authorized FTX to begin selling off the $3.4 billion in Solana, Ethereum, Bitcoin and other assets it held as part of the bankruptcy proceedings.

Shiba Inu, the meme coin that took the crypto world by storm, is showing signs of life again. After languishing in the 7-9% profitability range — a level so low it practically screamed "don't bother" — the coin has clawed its way back to the 10% profitability mark.

This is a breath of fresh air for long-term holders, many of whom have been carrying this asset like a millstone around their necks.

As of the latest data, Shiba Inu is trading at $0.0000073. While this might not sound like much, it is a significant uptick for a coin that seemed to be stuck in a profitability rut. The jump to 10% profitability is a far cry from the glory days of 2021 when Shiba Inu was a money-making machine. But it is a start, and for many, it is a sign that maybe — just maybe — it is time to pay attention to this meme coin again.

Now, let's talk about the elephant in the room: the long-term holders. These are the folks who have been holding onto Shiba Inu through thick and thin, through highs and lows and pretty much everything in between.

With profitability finally hitting double digits, the temptation to sell is going to be strong. After all, who wouldn't want to offload an asset that has been more of a liability than a boon? But here's the kicker: If everyone starts selling, we could see a price drop that sends Shiba Inu back to the gloom.

Shiba Inu's current price stands at a neutral short-term level, indicating a passive approach among Shiba Inu investors, who are not yet ready to make serious moves. However, it is worth noting that Shiba Inu does not have a significant presence in the DeFi landscape, unlike blockchains like Solana or Ethereum.

Solana's leading NFT marketplace is making waves, boasting nearly as many daily traders as all Ethereum-based NFT platforms combined. This is not just a fluke; it is a testament to the unique synergy between Solana's user-friendly, cost-effective blockchain and the ever-popular world of NFTs.

Why is this a big deal? Solana's blockchain is not just fast; it is also incredibly accessible. Combine that with NFTs, which have a universal appeal, and you've got a recipe for mass adoption. While Ethereum's NFT marketplaces are still performing well, the sheer volume of activity on Solana's top NFT platform should make anyone sit up and take notice.

Now, let's talk numbers. Solana's current total value locked (TVL) stands at approximately $306.8 million, according to DefiLlama. This robust DeFi landscape adds another layer of allure to Solana's NFT marketplace, making it a one-stop-shop for all things crypto.

As for Solana's price performance, the latest data shows that one SOL is valued at around $18. While this might not be its all-time high, the coin has shown resilience and potential for growth, especially considering the anti-FUD measures Solana influencers are taking in order to battle the effect of the upcoming FTX liquidation.

But let's not get carried away. Ethereum has its strengths, and its NFT marketplaces are far from obsolete. However, the rapid rise of Solana's NFT platform is a wake-up call. It is a vivid reminder that the crypto space is ever-evolving, and what's hot today might not be tomorrow.

So, what is the takeaway? Solana and its NFT marketplace are a force to be reckoned with. They have tapped into a formula that combines speed, low costs and mass appeal. And while Ethereum will continue to be a major player in the NFT scene, it might just have to share the spotlight with Solana for a while.

On-chain data from Santiment shows Bitcoin wallet activity continues to grow as it hits a new 5-month high in activities as the price of Bitcoin has failed to show promising moves in the past few weeks as price remains in a range below $26,500.

Bitcoin’s (BTC) price is yet to show signs of its impending halving in 2024 as many analysts and investors speculate the lower price action of Bitcoin in the present bear market is a cause for worry. It could lead to a different trend in Bitcoin price rally than in the past.

The price of Bitcoin continues to attract much attention, considering it would have had a big impact on the cryptocurrency market and the prices of other altcoins as its halving approaches in 6 months, around April of 2024.

Will Bitcoin price reclaim its previous all-time high of $69,000 and surpass its high of $200,000? This has been one of the talking points of many analysts despite recent high on-chain Bitcoin activities.

Although Bitcoin has shown a glimpse of its price action as price rallied from $16,000 to $32,000, price suffered a shocking decline as it struggled to break above its yearly high.

Compared to last week, the price of Bitcoin looks promising, above $26,500, as the price could aim to go higher to a region of $27,500 if the Bulls increase their activities, as bears have remained much dominant in the past few weeks.

The heat map above shows the current market state after a brief bounce in prices across all markets, with the price of Bitcoin, Ethereum, SOL, XRP, and other weekly top 5 cryptocurrencies showing promising signs of a possible rally higher ahead of a new week.

Ahead of the Consumer Price Index (CPI), the price of Bitcoin suffered a new price decline to a low of $24,800 as the price bounced from that region to a high of $25,800 ahead of the CPI. The price rallied further to a high of $26,800 after the CPI data was released, with BTC bulls holding the price above $26,500.

The price of Bitcoin, holding above $26,500, is a good sign for the bulls as the price could aim to break out from the bearish trend it has maintained for months now. The price of Bitcoin, between $25,000 and $26,500, could give bulls much time to break out into an uptrend.

BTC’s price trades below its 50-day and 200-day Exponential Moving Averages (50-day and 200-day EMAs), indicating that the price needs to break higher and close above $27,500 for more bullish price movement.

The price of Bitcoin on the daily timeframe continues to hold above the 61.8% Fibonacci Retracement Value (61.8% FIB Value) and on other higher timeframes, indicating much advantage for the bulls as the price aims to go higher.

If the price of BTC closes below $24,500, this could be challenging for BTC bulls as bears would aim to push the price lower, but Bitcoin has shown incredible strength holding above $25,000.

The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) on the daily timeframe show a trend change as bulls could push the price higher if $27,500 is reclaimed.

Bitcoin’s price movement has had much effect on Ethereum (ETH) as the price of ETH has remained in a range movement for weeks between the range of $1,570 to $1,650 as the price of Ethereum has failed to reclaim the high of $1,800 to resume its bullish price movement.

Ethereum price trades below its 50-day and 200-day EMAs, indicating that the price remains downtrend despite a short price bounce from $1,550. If the price of ETH holds above $1,500, there are higher chances of bulls flipping the highs of $1,800 into support.

Bitcoin and Ethereum’s price range has remained in the shadows of other top trending altcoins as many altcoins continue to rally with over 500% in weeks leading to key analysis of this week’s top 5 cryptocurrencies (TRB, SHIB, XRP, RNDR, MATIC) to watch.

Shiba Inu (SHIB) Daily (1D) Price Analysis – Top 5 Cryptocurrency to Watch

SHIB USDT DAILY PRICE CHART 1D

The crypto bear market hasn’t discouraged the likes of the Shiba Inu team, as they have maintained a high need to build and evolve the community during the bear market. Many traders and investors have applauded such innovation and believe SHIB would do well in the nearest altcoin season.

Shiba Inu’s faithful have welcomed the creation of Shibarium and Shiba Inu’s Web3 restaurant as they hope this will be a huge boost and catalyst for the price of SHIB/USDT to rally high.

On-chain data from Sibarium Scan shows high activity on its network since its creation, registering over $2.7 Million successful transactions on the Shibarium chain. Such staggering growth reflects mass adoption by whales and traders.

The price of SHIB/USDT has struggled to rally high after its post-Shibarium launch as the price of SHIB/USDT rallied high to $0.00001100 before suffering rejection from bears from such regions acting as resistance for SHIB price.

SHIB/USDT dropped to a region of $0.00000730 below its 50-day EMA as the price holds well above the key level of 38.2% FIB value as the price could aim to rally high if bulls hold above $0.00000700 to reclaim the resistance at $0.00000850.

If the price of SHIB/USDT reclaims the resistance of $0.00000850, flipping it into the support, we could see the price aiming to rally high to $0.0000220, which will remain an area of supply for bears.

The MACD for SHIB/USDT on the daily timeframe looks promising as the price could resume its bullish trend with the RSI trading just above the 40-mark area.

Major SHIB/USDT support zone – $0.00000700

Major SHIB/USDT resistance zone – $0.00000850

MACD trend – Bullish

Ripple (XRP) Daily (1D) Price Analysis

XRP USDT PRICE CHART

Ripple (XRP) remains a top 5 cryptocurrency for many traders and investors. It is hoped to outperform other higher marketcap cryptocurrencies like Solana and ADA, as it has gained much popularity and partnerships in recent months.

Analysts, investors and traders still hope for a major price rally for Ripple to a high of $5 and more in the coming bull market. Despite the harsh bear market, this cryptocurrency has remained one of the strongest with good fundamentals.

A few weeks back, the price of XRP/USDT was at the brick of breaking $1 as the price rallied past $0.93 before suffering price rejection by bears and has since struggled to replicate such price action.

The price of XRP/USDT has remained in a price range for weeks now as the price has formed strong support at $0.46 as the price retested this region, bouncing off to a high of $0.5.

The price of XRP/USDT needs to break out of its range and close above $0.55 to resume its bullish price rally to a high of $0.75 and possibly $1. If the price of XRP/USDT closes below $0.45, we could see the price retest its yearly low of $0.35.

Ripples MACD and RSI indicators on the daily timeframe suggest that the price could be ready for a minor bounce to its resistance of $0.55 as bears would be looking to reject its price, or bulls could break past this region to initiate a bullish price rally.

Major XRP/USDT support zone – $0.46

Major XRP/USDT resistance zone – $0.55

MACD trend – Bullish

Tellor (TRB) price Analysis as a Top 5 Cryptocurrency to Watch

TRB USDT PRICE CHART

Tellor (TRB) has been one of the top-performing altcoins for the past few weeks, outperforming the likes of Bitcoin, Ethereum, and Polygon Matic. The price action for TRB/USDT suggests the price could still have room to rally high to $55 or $60.

After suffering a price decline of over -60% during this bear market to a low of $9, the price of TRB/USDT formed a good demand zone around $9 as the price bounced from this region, showing a bullish price rally.

The price of TRB/USDT rallied from this low to a high of $20 as the price flipped its bearish price movement to a bullish price movement, with bulls buying more into this token as the price has increased over 500% in the past week.

The price of TRB/USDT currently trades above the 50-day EMA, acting as support for price on the daily timeframe and other higher timeframes.

Tellor’s price rally corresponds with its MACD and RSI movement, indicating bulls are much in control of the price and could push the price higher to $55-$60, but the bear would take over if the price breaks below $25.

Major TRB/USDT support zone – $32

Major TRB/USDT resistance zone – $60

MACD trend – Bullish

Render Token (RNDR) Price Analysis on the Daily (1D) Timeframe

RNDR USDT PRICE CHART

Render Token (RNDR), an AI token (Artificial Intelligence token), remains one of the undervalued tokens with great utility and use case and will continue to grow with much adoption ahead of Bitcoin halving in 2024.

The price of RNDR/USDT has struggled during this bear market as the price has seen over -80% drop from a high of $8 to a low of $0.4 as the price of RNDR/USDT rallied from this region with so much hype suffering AI tokens.

After rallying to a yearly high of $2.9, RNDR’s price declined from this supply zone by bears to a region of $1.25, forming good support for the price. The price of RNDR maintained a downtrend before breaking this trend to an upside.

RNDR trades above the 50-day EMA after a successful breakout from its downtrend. There are high chances of price retesting $2.9-$3 if price reclaims above $1.9, corresponding to 38.2% FIB value, to resume much bullish price action.

The MACD and RSI indicators for RNDR suggest bullish price action as the price could push higher with bulls much in control of the price.

Major RNDR/USDT support zone – $1.9

Major RNDR/USDT resistance zone – $2.5-$3

MACD trend – Bullish

Polygon Matic (MATIC) Price Analysis on the Daily Timeframe

MATIC USDT PRICE CHART

Polygon Matic (MATIC) has struggled to hold above $0.75 support as the price trades below its 50-day EMA, acting as resistance and below $0.55. After rallying to a yearly high of $1.6, the price of MATIC/USDT has suffered a much downtrend.

MATIC’s price has remained considerably under the influence of bears as bulls struggle to change its trend from bearish to bullish.

The price of MATIC/USDT needs to break and close above $0.57 to resume a minor price bounce to a high of $0.65-$0.75. If MATIC’s price fails to close above $0.56, then we could see the bear dominate price more to a region of $0.45.

Polygon Matic needs to reclaim $0.75 for a better bullish bounce corresponding to a 38.2% FIB value and could also signal MACD and RSI trend reversal to a bullish trend.

Polygon Matic remains one of the top 5 cryptocurrencies with a huge community, partnerships and use cases that would continue to shape the cryptocurrency market and help smaller projects looking to enter the blockchain mainstream.

Major MATIC/USDT support zone – $0.5

Major MATIC/USDT resistance zone – $0.65

MACD trend – Bearish

The sentiment in the crypto market seems to be mixed on Saturday, September 16, as investors are playing safe amid hovering concerns. Most of the major cryptos have traded near the flatline, with Bitcoin (BTC), with the overall market noting a slight gain from yesterday. Meanwhile, the crypto market Fear and Greed index remained at 38 during writing, signaling that the condition remains in the “fear” zone.

Bitcoin price decreased by 0.21% and traded at $26,597.09 as of writing, and its market cap slumped at the same percentage to $518,298,589,375. Its trading volume for the last 24 hours was down 8.87% to $11,573,780,915.

The Ethereum price ticked up 0.39% over the last 24 hours to trade at $1,639.90, and its trading volume declined 8.38% to $4,385,076,220. The Cardano price dropped by 0.63% to $0.2525 during writing on September 16, while its volume jumped 18.45% to $128,425,908.

The Solana price noted a slight gain of 0.53% to $19.32, while the BNB price surged at a rate of 0.92% to $215.07. The XRP price was down 0.61% to $0.5006 as of writing.

However, the meme coins seem to be showing some resilience against the backdrop of major cryptos in red, with Dogecoin price increasing 0.26% to 0.06237, while its trading volume at $163,370,476,979,612, down 7.22%. The Shiba Inu price also rose 1.12% to $0.00000753 from yesterday, and its trading volume decreased by 1.96% to $73.19 million.

Meanwhile, the performance of the global crypto market stayed near the bay, suggesting that the recent economic data, that came in hotter-than-expected, might have affected the risk-bet appetite of traders. The global crypto market cap added 0.48% to $1.06 trillion over the last day, and the total crypto market volume plummeted 1.15% to $26.43 billion during writing.

The Top Cryptos For Today Are:

Pepe Coin Adds 0.99%

At the time of writing, the Pepe coin price was at $0.0000006888, noting a gain of 1.06% in the last 24 hours. Its market cap was up 1.02% to $269.66 million, and its trading volume rose 5.93% to $43.02%. The Pepe coin continues to be on the watchlist of traders, amid choppy trading in the global crypto market.

THORChain (RUNE) Surge over 9%

The THORChain price noted a gain of 9.13% over the past 24 hours on Saturday and traded at $1.90 during writing. The one-day trading volume of the crypto soared 51.19% to $111,774,733 during writing. Although there is no news for the recent surge, it seems that the investors are focusing on the crypto, sending its price up nearly 20% over the past week.

Aave (AAVE) soars 6.71%

During writing, Aave price soared 9.29% to $59.91, while its last 24 hours volume soared 79.31% to $102,318,738. The crypto had a market cap of $870,976,452, up 9.28% over the past day. The project recently said that it is going to participate in the ETHGlobal event in New York, a three-day event on September 22-24.

Maker (MKR) up about 6%

The Maker price rose at a rate of 5.41% during writing on September 16 and traded at $1,281.20. The last 24 hours volume of the crypto rose 5.42% to $1,252,678,279. The project said on their X account that details for a Maker Governance poll have just been released with details, that await approval for the activation of SparkLend on Gnosis Chain.