PNG experienced a remarkable surge of 910% between February 22 and February 27, 2024, according to the daily chart.
Subsequently, Pangolin has been trading within a prolonged consolidation channel, fluctuating between $0.62000 and $0.34800.In November 2023, Pangolin surged by 460%, followed by a prolonged period of trading within a consolidation zone. Then, in February 2024, a sharp surge of over 900% occurred.If history repeats itself, we can expect another sharp surge after breaking through the $0.62000 resistance level.If the price breach the resistance zone around $0.62000, a significant upward movement is anticipated, potentially leading to new All-Time Highs in the near future.According to Coingabbar Price Prediction, If PNG can't break through resistance, it's likely to stay within the consolidation range, possibly revisiting support in the short term.
KEY LEVELS :
RESISTANCE LEVEL : $0.62000-$0.85000
SUPPORT LEVEL : $0.44000-$0.32000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
#BinanceLaunchpool #buythedip #CryptoWatchMay2024 #altcoins #BTC $PNG @CZ @Coingabbar Analysis

Bitcoin (BTC) surged past the $63,000 mark on Binance at the close of Friday, driven by renewed capital inflows into immediate settlement Bitcoin exchange-traded funds (ETFs) in the United States.

The influx of capital into Bitcoin ETFs in the US resumed, propelling Bitcoin to $63,000 on Binance by the end of Friday's trading session. Notably, Grayscale's Bitcoin Trust ETF (GBTC) broke its streak of 80 days of capital outflows, attracting a substantial $63 million in capital inflows, according to Coinglass data.

As of the time of writing, Bitcoin was hovering around $62,900, marking a 6.5% increase over the past 24 hours, according to CoinGecko. The leading cryptocurrency had dipped below $57,000 earlier in the week ahead of the Federal Reserve's interest rate decision and FOMC meeting extension. However, it began its ascent after crossing the $61,000 threshold earlier in the day.

GBTC stands as the largest Bitcoin spot ETF with assets under management surpassing $18.7 billion. Prior to its transition to an ETF earlier this year, the fund held approximately 620,000 BTC. GBTC has been under pressure from investor withdrawals, especially since competing Bitcoin spot ETFs received approval in January. As of April 18, GBTC's holdings had been cut in half.

Bloomberg ETF analyst Eric Balchunas expressed surprise at GBTC's reversal of its long-standing capital outflow trend, stating, "We're back." While GBTC has seen recent gains, continuous outflows have allowed competitors like BlackRock's iShares Bitcoin Trust (IBIT) to narrow the gap. As of May 2, IBIT held $17.2 billion in Bitcoin assets under management.

The US Department of Labor reported that initial jobless claims remained steady at 208,000 for the week ending April 27, marking the lowest level since mid-February and signaling strength in the labor market. Additionally, the employment cost index rose by 4.2% in the first quarter compared to the same period last year, reinforcing investor confidence. This data has led traders to speculate that the Federal Reserve may consider cutting interest rates by late 2024, creating a favorable environment for risk assets like cryptocurrencies currencies.
#BitcoinETFs #CryptoWatchMay2024 #BullorBear