RVN analysis:

On the daily timeframe, there is a significant falling wedge pattern, and the price has already surpassed it. Currently, RVN is oscillating between the support and resistance areas. It is advisable to wait for a distinct breakout above the resistance area or a test of the support zone before considering new entries.

Support Area: $0.01570-$0.0164

Resistance Area: $0.0195-$0.0202

📊 Crypto Fear and Greed Index

🧭 Index Value : 72
😱 Sentiment : Greed
💰 BTC Price : $37808

#TRX / USDT : Chart Analysis

TF : 4h

Current Price : $0.1033

Trend : Uptrend , HHs & HLs structure formation above 200 Ema .

-Price respecting Trendline look for Long position near 200Ema .
-Anticipating a Bullish Momentum till $0.109 Level .

Plan :
-Entry : $0.1033
-Target : $0.1095
-SL : $0.0995

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2⃣In the APP, go to #Kickstarter and #Launchpad
3⃣Quick Commit to grab them all!
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1St time using #eRupee

Educational Post

The simple moving average (SMA)

The SMA takes data from a set period of time and produces the average price of that security for the data set. The difference between an SMA and a basic average of the past prices is that with SMA, as soon as a new data set is entered, the oldest data set is disregarded. So if the simple moving average calculates the mean based on 10 days worth of data, the entire data set is constantly being updated to only include the last 10 days.

It's important to note that all data inputs in an SMA are weighted equally, regardless of how recently they were inputted. Traders who believe that there's more relevance to the newest data available often state that the equal weighting of the SMA is detrimental to the technical analysis. The exponential moving average (EMA) was created to address this problem.

Pin our channel on top to never miss a signal or educational post. @tamil_btc

1/🚨Big update in crypto from the Indian🇮🇳 parliament.

a) Existing AML & CFT guidelines now apply to foreign crypto exchanges serving the Indian market.

b) Registration process initiated for offshore Virtual Digital Asset (VDA) service providers, akin to foreign exchanges.

c) Major action will be taken against offshore exchanges if found non compliant.

2/ Question: a request was made to provide the list of reporting entities in India🇮🇳 (crypto companies) dealing in VDA .

Here’s the list of reporting entities dealing in VDA is mentioned below👇

1. $ETH Staked Realized Price Breakout: The surge in Ethereum's value is attributed to a breakout in the realized price of staked ETH.

2. Deflationary Phenomenon Intensifies: Ethereum is experiencing an intensification of deflationary factors, contributing to its upward trajectory.

3. Grayscale Ethereum Trust Premium Gap Narrowing: The narrowing gap in the premium of Grayscale Ethereum Trust adds to the overall positive sentiment, influencing the rise of $ETH.

RDNT analysis:

Price is currently trading within a symmetric triangle pattern and has been rejected from the upper trendline. It is recommended to wait for a test of the support area before entering new positions.

Support Area: $0.23-$0.237

Resistance Area: $0.267-$0.272

The $45k Threshold: A Turning Point for Bitcoin's Medium-Term Investors

1. Significance of $45k:

The $45k mark is pivotal for Bitcoin, representing the cost basis for investors who acquired Bitcoin 2 to 3 years ago.

2. Investor Cohort Impact:

This cohort, holding 16% of the Bitcoin supply, plays a significant role in the market dynamics.

3. Realized Cap Impact:

Investors at the $45k threshold represent 33% of the Realized Cap, underscoring their influence on the market.

This convergence at $45k marks a crucial juncture for medium-term Bitcoin holders, shaping the narrative and potential future market trends.

[XWallet Withdrawal Notification] The XWallet will be discontinued on Dec 31, 2023. Please withdraw your assets now. For inquiries, contact support@pundix.com.