Cardano Price Prediction: Cardano (ADA) has been experiencing a corrective phase for the past three weeks, largely influenced by broader market uncertainty, particularly around the Bitcoin ETF launch. From a recent high of $0.677, ADA price has fallen almost 30%, currently trading around $0.497. Despite this bearishness, there is a silver lining: a bullish reversal pattern is forming in the token. This suggests a potential opportunity for buyers to reignite the currency's recovery trend. $0.49786318 trading now
Over the past seven months, Cardano price movements have largely stagnated, consistently struggling to stay above the $0.7 threshold. This prolonged sideways trend gradually transformed into a bullish 'cup and handle' pattern.
This pattern is often seen as a precursor to an asset price bottoming out, followed by a sustained recovery. Currently, the ADA is in the process of forming a 'handle', a minor correction phase that typically gathers bullish momentum for a breakout above key resistance levels.
With buying pressure building near the $0.46 support level, ADA's price is likely to rise 35%, challenging the neckline resistance at $0.677.
A decisive breakout above this level could be an early indicator of a reversal, possibly sending the price up another 66% to a target of $1.135.
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The daily time frame chart for ADA shows a long-tail rejection candle at the $0.46 support level, indicating continued buyer interest during the bearish price. This support level, reinforced by the 50% Fibonacci retracement level and the 100-day exponential moving average (EMA), forms a strong demand zone, setting the stage for a bullish reversal. However, if buyers fail to maintain this key area, it could indicate strong selling pressure, leading to a possible extended decline and invalidating the bullish pattern. #BTC #ADAUpdate
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1. Is the cryptocurrency world going to end? Recently, many posts in the industry that are pessimistic about blockchain are very popular. Many people outside the industry are asking me if the blockchain scam is over? People in the industry are asking if the industry has no future? What stage of the cycle are we in? Compared with good news, bad news is more likely to make headlines, and bad news is also more likely to get more traffic and attention. What is more worthy of ridicule than people in the cryptocurrency circle pessimistic about the cryptocurrency circle? These behaviors and emotions are constantly contagious, engulfing traffic and intensifying. Even some OG retirements have been magnified as evidence that "the cryptocurrency circle is over." Some industry-firm idealists also reveal anxiety and confusion in their chats with me.
Indonesian cryptocurrency exchange Indodax has reportedly fallen victim to a security breach, resulting in significant losses of approximately $20.5 million. According to blockchain security firm SpotonChain, the exchange experienced large outflows of cryptocurrency from its platform.
Another security group, Cyvers Alerts, flagged suspicious transactions linked to Indodax’s wallets across multiple networks. Cyvers identified that around $14.4 million had already been moved to suspicious addresses, with tokens being swapped into Ether (ETH).
PeckShield reported that 5,204 ETH was being held on Ethereum, along with 6.8 million POL on the Polygon network, and 380 ETH on Optimism. Following the breach, Indodax released a statement on X, stating that their security team was investigating the issue and conducting full maintenance to ensure platform stability. As a result, both the Indodax web and mobile applications were temporarily taken offline.
 Source: Twitter
Further reports suggest the hacker has managed to swap most of the stolen assets and now holds 5,584 ETH worth $13 million, 6.84 million POL worth $2.56 million, 16.7 million TRX valued at $2.55 million, and 25 BTC worth $1.41 million.
Indodax, Indonesia’s largest crypto exchange, has not officially commented on the hack. The exchange, which serves a growing user base of over 28.5 million as of 2024, recently listed Islamic coins and other cryptos. Despite the security breach, Indodax recorded a 24-hour trading volume of $11.5 million, with Ethereum transactions accounting for $415,518 of that volume. #matic #PoolzFinance
OTC Bitcoin Wallets Swell Amid Low Volatility: 57,000 BTC Added In A Month – Details
Over the last month, the price of Bitcoin has been subject to much turbulence, culminating in a total loss of 3.09% according to data from CoinMarketCap. Notably, despite intermittent waves of a price rally, The crypto market leader failed to reclaim the $65,000 price zone in all of August. However, amidst this bearish market, institutional investors have taken the opportunity to strengthen their position in the Bitcoin market. $BTC $BNB $SOL
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Binance Square, formerly known as Binance Feed, aims to be the one-stop social platform for the latest trends in Web3. With a vast selection of content from renowned crypto experts, avid enthusiasts and trusted media sources, the platform serves as a bridge between content creators and their followers, customizing users’ feeds based on their respective engagement history.
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Terms and Conditions: The campaign is open only to users with India KYC.Rewards are capped at $1 per participant.The FDUSD token voucher rewards will be distributed within 30 working days after the activity ends. Users may check their rewards via Profile > Rewards Hub. The validity period for the token voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelines or Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this announcement and the original English version, the English version of this announcement shall prevail.Additional promotion terms and conditions can be accessed here. Risk Warning: Digital asset prices can be volatile. The value of your investment can go down or up and you may not get back the amount invested. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. You are solely responsible for your investment decisions, and Binance is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.
Like and Win: Binance India Community, Welcome to Square!
Dear Binance India Community, welcome to Binance Square! To show our excitement at you being with us, we are launching a “Like and Win” campaign that’s available just for you. Simply like at least one piece of content each day for 7 consecutive days during the campaign period and get a chunk of our prize pool of $5,000 in BNB token vouchers. Campaign Period: 2024-08-16 11:00 to 2024-08-26 23:59 (UTC) How to Participate: Like at least one piece of content on Binance Square each day for 7 consecutive days during the campaign period. Eligibility: This campaign is open only to users with India KYC. Rewards: All eligible participants will share a $5,000 in BNB reward pool, with rewards capped at $1 per participant.
About Binance Square
Binance Square, formerly known as Binance Feed, aims to be the one-stop social platform for the latest trends in Web3. With a vast selection of content from renowned crypto experts, avid enthusiasts and trusted media sources, the platform serves as a bridge between content creators and their followers, customizing users’ feeds based on their respective engagement history.
For More Information What Is Binance Square and Frequently Asked QuestionsBinance Square Creator Academy
Terms and Conditions: The campaign is open only to users with India KYC.Rewards are capped at $1 per participant.The FDUSD token voucher rewards will be distributed within 30 working days after the activity ends. Users may check their rewards via Profile > Rewards Hub. The validity period for the token voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelines or Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this announcement and the original English version, the English version of this announcement shall prevail.Additional promotion terms and conditions can be accessed here. Risk Warning: Digital asset prices can be volatile. The value of your investment can go down or up and you may not get back the amount invested. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. You are solely responsible for your investment decisions, and Binance is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.
A bullish falling wedge pattern appeared on Dogecoin’s chart, and a breakout could allow it to retest its April highs.
Both Dogecoin’s weekly and daily charts were painted green.
Whales were dominant in the market, but a key indicator turned bearish.
As the market turned bullish, several cryptos showed commendable performance, and Dogecoin [DOGE] was one of them. In the meantime, AMBCrypto found a bullish pattern on the memecoin’s chart, which could soon result in yet another bull rally.
Dogecoin’s promising performance
CoinMarketCap’s data revealed that DOGE was among the handful of cryptos that managed to pain their weekly charts green as DOGE was up by over 2%. Things got even better in the past 24 hours as the world’s largest memecoin’s price surged by over 5%.
At the time of writing, DOGE was trading at $0.1096 with a market capitalization of more than $15.9 billion.
Thanks to the memecoin’s bull rally last week, its weighted sentiment remained in the positive zone for the majority of the days.
This meant that bullish sentiment around Dogecoin was dominant. Its social volume also remained relatively high last week, reflecting its popularity in the crypto space.
While DOGE’s price gained upward momentum, AMBCrypto found a bullish falling wedge pattern on its chart. The pattern emerged in April, and since then DOGE’s price has been consolidating inside it.
In case of a bullish breakout, DOGE might retouch its April high in the coming weeks $XRP $BTC
Binance Recovers $73 Million In Stolen Crypto Funds, Surpasses $55M Recovered In 2023
Binance’s security team has recovered or frozen over $73 million in stolen user funds so far this year, surpassing the $55 million recovered in 2023. The crypto exchange noted that the vast majority of these recoveries and freezes i.e. approximately 80% are related to hacks, exploits, and thefts happening externally. The remaining 20% are associated with scams taking place outside the Binance platform. Binance’s Chief Security Officer highlighted the company’s commitment to user protection and improving the security of the crypto ecosystem, leveraging blockchain technology to track and recover stolen funds. $SOL
In Case You Missed It: The World's Biggest Oil Company Saudi aramco Generated $56B In Profits More Than NVIDIA, Meta & Tesla Combined
While investors wait Patiently for any significant Al Profits from the Magnificient 7 and other Players, the Middle Eastern oil juggernaut keeps on Printing cash.
aramco will also Pay a tasty $31B in dividends this quarter ($124B this year) to shareholders.
A major recipient is the Saudi government, which is using the oil Profits to finance their ambitious Vision 2030.
To Put this into Perspective, aramco generated more Profits than Nvidia, Meta & Tesla combined.