Have a nice and productive day for everyone, and for some of them, more recently, fruitful work on the "farm"! As always, I offer you a daily review of the market news:
BTC. The asset failed to gain a foothold above the resistance level of $37,600, negative news from China accelerated the correction of bitcoin, the price closed under the lower limit of the ascending channel, falling to the correction level of 0.786 on the Fibo ($36,200). On the four-hour timeframe, a bearish signal was formed - a top-down intersection of the faster exponential moving average of 21 EMA 4H and the slower one of 50 EMA 4H, which signaled a likely pullback. At the moment, the instrument is trading above the support level - $35,500. To develop an upward movement, bitcoin needs to gain a foothold above the 0.786 Fibo correction level ($36,200), followed by a proto-trade above it. Otherwise, the asset will roll back to the $35,400 mark.
ETH. The asset failed to gain a foothold above the resistance level of $2,750, after which the ether went for a correction following bitcoin to the support level at $2,500, above which it is currently consolidating.
Weibo, known as the Chinese version of Twitter, has blocked the accounts of users associated with the cryptocurrency industry. The social platform has blocked about 25 accounts with a large number of subscribers. The accounts belonged to well-known crypto traders, representatives of the decentralized finance industry, and news portals.
Weibo is China's largest microblogging platform, with about 230 million daily users as of March 2021. The service is not the first time it blocks crypto-influencers, previously the accounts of Huobi, OKEx and Binance, Justin Sun and the head of Binance were blacklisted.
China is going to continue to pursue a policy of pressure on the crypto industry, which means that other Chinese social networks and media can follow the example of Weibo. The market reacted with a decline to the next and not the last China FUD, it's time for the industry to start developing immunity to such news that does not radically change the overall picture.
El Salvador will be the first country in the world to make bitcoin legal tender alongside the US dollar. President Naib Bukele, in a video broadcast at the Bitcoin 2021 conference in Miami, announced El Salvador's partnership with Digital wallet Strike to create a modern financial infrastructure with an integrated BTC network.
The adoption of digital gold as a means of payment at the state level will help unlock the potential of bitcoin for everyday use, contributing to the spread of cryptocurrencies. 2 camps of countries that are opposite to cryptocurrencies are being formed - the" digital asset receiver " still has a numerical advantage, I wonder which of them will be joined by a neutral-undecided part in the near future.
ะะปั Altos: In anticipation of the announced IDO of Iagon on the TosDis (DIS) platform, the value of DIS increased by 25% (against the dollar).
The launch of the farming program and the upcoming airdprop by the TEN (TENI) project led to a 20% increase in the price of TENFI at the peak (against the dollar).
The strategic partnership with the dao announced by Yam Finance (YAM) was the reason for the growth of YAM by 20% (against the dollar).
the total value of digital assets over the past 24 hours has decreased by 5.3%, the dominance of the main cryptocurrency, despite the intraday growth momentum, has not changed much. A local rebound of the cryptocurrency market is likely after impulsive sales.