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Polkadot (DOT) Grinds 15% Higher Amid Sustained Buying

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Polkadot (DOT) Grinds 15% Higher Amid Sustained Buying

There’s no stopping Polkadot (DOT) price as it continues to locomote up. It’s the second consecutive day of winning streak for Polkadot as it spiked by 15% in gains.  

According to CoinMarketCap, Polkadot (DOT) price is currently up by 5.92% or at $8.02. It currently has a total market cap of 7,916,976,700 as of this writing.

DOT price has experienced sustained and robust buying pressure after touching on lows on Tuesday at $6.52. The coin has successfully bounced back from the $6.50 support line.

Can DOT Spike To $8.50?

The coin has recovered steadily as seen in the past two sessions and has also generated heightened massive investor interest and price hike. A breach above the $8.00 level would reinforce gains for DOT.

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Looking at the daily chart, DOT price has been experiencing resistance close to the sloping line that stretches from $9.5.But, the downside is seen close to the $6.25 zone. Breaking through the resistance level of $8.05 requires strong buying pressure.

Polkadot price is looking extremely volatile and continues to be unpredictable in terms of price movement. Meanwhile, the bulls are trying to jab the price pushing it further the descending trend line.

As DOT/USD nears the 50-day EMA or Exponential Moving Average, the price could potentially shoot for $8.50.  Additionally, RSI has also traversed the average line and could jump higher. RSI is currently at 56.

With the hourly time frame, DOT price hints more gains or higher than 15% from yesterday’s $6.73. After retesting at $7.93, DOT price has retraced and swerved way up with the current session’s high. This implies that buying pressure is close to the lower zone.

Bulls In Command, Conquer Mode

The histogram bars seem to plunge with the MACD indicator revealing a downward bullish trend. RSI is showing positive or is neutral and neither bearish nor bullish.

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DOT is definitely looking optimistic when perceived on a higher time frame. However, on the lower time frame, it still shows negative in perspective. So, it would be wise to hold your horses and await validation before pushing through more aggressive bids.

DOT price shows that the bulls have been manning its price since September this year. The market has witnessed slopes or combinations of higher highs and higher lows, which implies that the bulls have the upper hand too on DOT price. DOT prices were previously seen to be merging in the $6.42 and $7.2 range.

DOT’s RSI is above 50 which strongly indicate that the coin is bullish. On the other hand, if Polkadot prices plunge to $6.61 and under, this would hint that the bears were able to take over the market.

It seems the bulls are in command and conquer position. Polkadot is set to continue with its bullish momentum as triggered by an overall positive market sentiment.

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DOT total market cap at $7.8 billion on the daily chart | Source: TradingView.com    Featured image from VOI.id, chart from TradingView.com

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Solana Price Climbs To $47 As SOL Bulls Outshine Pesky Bears

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Solana Price Climbs To $47 As SOL Bulls Outshine Pesky Bears

Solana (SOL) price has locked its sights on the goal from day one.

  • Solana’s price is extremely bullish
  • Price spiked aggressively to $47
  • SOL/USD pair key resistance spotted at $49.5

Evidence to that, SOL price has behaved extremely bullish as the price surged to $47. The bulls have been consistent with orchestrating an uptrend for a couple of days now.

Solana Showing Uptrend Signals Despite Correction

In fact, due to stubborn resistance, the price of SOL spiked to $48.4 early yesterday. It was apparently a short-term surge and then the price went back to the same level. Notably, the SOL/USD pair continues to move forward incrementally. The next resistance for the pair is spotted at the $49.5 mark.

On a one-day timeframe, SOL price has shown an impressive uptrend a few hours ago as it trades at $47.  Additionally, the SOL/USD pair price has also dipped in value by 0.40% as observed in the past 24 hours.

According to CoinMarketCap, the SOL/USD pair is experiencing correction and is now trading at $44.34, or a drop of 5.65% as of press time. Total volume for SOL has increased by 42.05% or currently at $1,372,667,870. Solana’s price also recorded a profit of 18.93% as seen in the past couple of days as the price has been on an uptrend.

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Volatility has been on a rise for SOL as presented on the divergence of Bollinger bands which hints at spiked volatility in the coming days. The Bollinger upper band is spotted at $47 with the price actively trading above that level. On the other hand, the lower band is seen at the $36 mark denoting the most active support for SOL. More so, the mean average is also spotted at the $41.7 level right below the MA seen at the 43.1 level.

RSI for SOL is now prominent at index 64 and is seen to trade upwards indicating a robust spin in buying pressure. The overall sentiment of SOL is still very optimistic.

SOL Price To Retest $49.5 

On 4-hour time fame, the chart shows that the price breach was aggressively bullish and seen trekking upwards early today. The trend is seen to go upwards for roughly 16 hours following a retracement. Remarkably, SOL price exhibited some pullback in the past four hours even if the bulls were gaining more dominance.

Chart from TradingView.com

The volatility of the coin has peaked as seen on the 4-hour chart with the Bollinger bands expanding with the indicators hinting a breach upwards implying a bull run in the coming days.

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The upper band is seen right at the $48.3 level, which keys in the resistance for the coin, while the lower band or key support is spotted at $41.5. RSI is spotted at index 68 which is close to the lane of the overbought zone with the upward movement of the RSI implying a boost in buying pressure.

SOL price has definitely recovered in the past couple of days and is expected to retest the $49.5 resistance zone in the next couple of hours.

SOL total market cap at $15.2 billion on the daily chart | Source: TradingView.com    Featured image from Altcoin Buzz, Chart from TradingView.com

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Monero (XMR) Climbs Over 7% Before Weekend Hard Fork

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Monero (XMR) Climbs Over 7% Before Weekend Hard Fork

Monero (XMR) price has surged by as much as 7% in a matter of 24 hours before network upgrade or hard fork on August 13.

  • XMR climbs by over 7% overnight before the weekend hard fork.
  • Binance recently announced support for Monero’s hard fork or network upgrade.
  • Crypto targets $200; then $217 next.

 Historically, upgrades have always triggered a boost in XMR price.

The altcoin is seen to have soared by 65% since midway of June which signals a robust price movement. With consistent and continuous recovery of the crypto market, XMR price might even shoot above $200.

According to CoinMarketCap, XMR has soared by 1.28% or trading at $167.70 as of this writing.

The Monero Hard Fork

With this upgrade rescheduled a lot of times, everyone is excited that it’s finally here. Monero is set to perform a hard fork to boost network performance, speed, wallet syncing capability, privacy, security, and decrease volatility in prices.

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Monero announced in a tweet that the network upgrade via a hard fork will transpire at block 2,688,888 on August 13. More so, the privacy protocol has also officially rolled out Ledger Monero App v1.8.0 as well as the CLI & GUI v0.18.1.0 “Fluorine Fermi.”

It is highly important for exchanges, merchants, services, and users to run the v0.18 prior to the launch of the network upgrade and also to ensure uninterrupted use of XMR blockchain.

The ring size of the crypto has also enlarged from 11 to 16 which aim to boost the privacy of transactions done on its blockchain. Additionally, Bulletproofs+ also aims to decrease transaction sizes and boost and speed up verifications by up to 7%.  More so, vital security patches and multi-signature fixes will be integrated as well.

The view tags also aims to boost wallet synch speed by as much as 40% and the changes in fees will also greatly reduce volatility plus enhance security which is very crucial to a blockchain.

Binance Supports Hard Fork

Binance, one of the most popular and giant crypto exchanges have also announced their strong support for the hard fork.  In lieu with this, Binance is set to put to hold any transactions on the network such as XMR withdrawals and deposits on August 13 at 14:00 UTC.

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Notably, Binance also assured XMR HODlers and trades that that the digital assets are heavily secured and transactions will resume following completion of the hard fork upgrade.

The recent delays in the launch of the hard fork have worried many investors. Regardless, it has been worth the wait as the price may shoot over $200, with the next target resistance spotted at $217.

Overall, XMR shows a strong bullish trend and is set to go green all the way during and after the hard fork upgrade.

Crypto total market cap at $1.15 trillion on the daily chart | Source: TradingView.com    Featured image from Phemex, Chart from TradingView.com
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APECoin Retraces 2.5% In Last 7 Days – More Selloff In The Offing?

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APECoin Retraces 2.5% In Last 7 Days – More Selloff In The Offing?

ApeCoin (APE) has been a high-performer with the price surge seen in the past couple of weeks.

  • ApeCoin moving erratic in an ascending parallel channel.
  • Price maintains to hold above the key support zone of $6.5.
  • APE/USD pair gearing sideways spotted at 0.000286 Satoshis.

The buying pressure has been impeccable pushing the prices way up. With the recent uptrend, APE registered a 9-week high peaking at $7.8 in the past week.

On the other hand, buyers are trying to keep the coin soaring this week – and it seems like they’re facing hard times. The altcoin is seen to retrace by 2.5% as seen in the past seven days with increased selloffs looming in the next coming days.

APECoin Price Trades at $6.83

According to CoinMarketCap, APE coin price has dropped by 1.39% and trading at $6.83 as of press time.

A weekly price candle has shaped up in conformity with the past bullish candle. On the 4-hour timeline, the altcoin’s price action is observed to appear with a strong wave of higher-lows and higher-highs within the ascending parallel channel.

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At this point, buyers are trying to maintain APE as it hovers above the support line of $6.5.

A bullish hurdle for the bulls is spotted right at $8.0. Now, if the bulls are able to breach this critical resistance zone, then $10 may be the next target. The RSI for APE has hovered downwards to revisit the semi-line as seen on the daily price timeline.

Despite the MACD staying above the neutral zone, it still looks rather tepid or flat. More so, the histogram is also weakening.

RSI Shows Retracement; Bears Trying To Claw Their Way In

ApeCoin still managed to trade in an upward parallel channel despite the withdrawal in price seen close to the resistance level of $8.0. RSI shows a bit of retracement and in the event that RSI breaches below the half-line, the bears could potentially breach the parallel channel.

On the daily chart, APE has dipped to 20 EMA or below 100 DMA but is trying to hold on positioning itself above 50 EMA. More so, APE coin price is seen to trade within an ascending parallel channel for over a month now or since July 13. The bears kept on clutching the token but the bulls are not taking it lightly and continuously trying to swing the token near the upper trendline.

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APE coin currently trades showing strong downward movement closing near the lower trendline of the ascending parallel channel. Now, APE coin must gain massive support from the bulls the soonest it gets into the trendline and hit reverse to prevent further dips below the channel. 

APE total market cap at $2.09 billion on the weekend chart | Source: TradingView.com    Featured image from AirdropAlert, Chart from TradingView.com

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