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Demand Grows for Prince Philip’s UFO Files To Be Released

The late Prince Philip was not mentioned too often during the funeral of his wife, Queen Elizabeth II, but he has been getting a lot of press since then for a reason that has nothing to do with the royal family (thank goodness!). It has long been known in paranormal circles that the prince had a great deal of interest in UFOs and extraterrestrials – collecting books and government reports on the phenomena over his 70+ years of marriage to one of the most powerful (at one time) women in the world with control over a vast earthly empire. With that kind of access, many imagine that Prince Philip’s collection was not only large but full of secret, privileged information. With his son now in charge, there has been a call to release the ‘Philip files’. What might be in them and what are the chances that the public will be allowed to view them – now or ever?

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The Horrific Realization of Being Digested by Paranormal Creatures

The world around us is not as it appears to be. In fact, far from it. As we go about our daily business, working, and living our lives, behind the scenes something dark and dangerous is taking place. And it has been going on since the dawn of civilization. Most people remain oblivious to the truth and don’t even realize it. Now and again, however, someone will stumble upon the startling reality that, potentially, affects and dictates the lives of just about all of us. What am I talking about? Nothing less than a monstrous collection of supernatural entities that terrify and torment us, and have done so for millennia. They do far more than that, however: they feed upon us. Like bloated, paranormal leeches, they suck us dry as they seek to fuel themselves with our psychic energy, high states of emotion, sexual energy, and the human life-force. They hate and despise us, but, paradoxically, they cannot live without us.

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NFTs bring in-game ownership to a new level, says Blokhaus founder

NFTs improve interactivity by allowing users to unlock fully modular, community-driven in-game experiences to which they own the pieces, explains Mark Soares, the founder of Blokhaus Inc.

Nonfungible tokens (NFTs) have taken the gaming world by storm. Whether it’s through limited edition collectibles, avatar enhancement or play-to-earn incentivization, digital assets have given in-game ownership a new meaning.

The ways in which NFTs are available to players are becoming increasingly tangible. In the case of Blockxer, the latest blockchain game from Blokhaus Inc., every component of the game has been NFT-ized and available for modification by users. 

Mark Soares, the founder of Blokhaus Inc., told Cointelegraph that when every aspect of the game is an NFT, users can create completely “bespoke” game experiences. Everywhere a user turns in this 8-bit, arcade-inspired game, there is an NFT — from the background and the characters to the weapons and more:

“Imagine the ability to create your own characters, in your own scene, and the ability to gift or sell these mods as an NFT pack to other players.”

NFTs allow users to unlock fully modular, community-driven in-game experiences to which they own the pieces. Soares likens this customization of an NFT-driven game, such as Blockxer, to 90s mixtapes, saying that it puts the “power of game creation in the players’ hands.”

As explained by Soares, the design of Blockxer is quite simplistic, harkening back to pixelated arcade games of the nineties. It highlights crypto-meme culture and includes characters like a zombie doge.

Zombie Doge NFT character sample. Source: Blockxer

Even though the game design is simplistic, Soares stated that it doesn’t mean the utilities of the NFTs have to be simple as well. In fact, he said that too simplistic thinking of NFTs is a problem in the blockchain gaming industry.

“Usually [they’re] just add-ons, rewards or badges for games that you can purchase – we think they can and should be much more.”

This is only the beginning of NFT integration into the world of gaming. Recently MyMetaverse and Enjin games began implementing NFTs into popular games such as Minecraft and Grand Theft Auto 5 servers.

Related: Solitaire, Counter-Strike, Snake: How casual gaming could be a ‘huge’ Bitcoin on-ramp

Other gaming giants like SEGA games have recently shown interest in blockchain gaming and its features.

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Bitcoin was almost named Netcoin by Satoshi Nakamoto, hints domain data

Domain purchases under AnonymousSpeech around similar timelines revealed the creation of Netcoin.org on Aug. 17, 2008 — just a day prior to the creation of Bitcoin.org.

Coming up with a good name is often one of the most challenging decisions one needs to make when launching a new service or business. Historical data of domain name purchases suggest that Satoshi Nakamoto, the creator of Bitcoin (BTC), had an alternate naming option in mind that did not make it to the whitepaper.

Bitcoin.org, the website domain linked to the original Bitcoin, was created on Aug. 18, 2008, under AnonymousSpeech, a service in Japan that allowed users to buy domain names anonymously. Domain purchases under AnonymousSpeech around similar timelines revealed the creation of Netcoin.org on Aug. 17, 2008 — just a day prior to the creation of Bitcoin.org.

Did you know? A day before the https://t.co/oDfOFzFVNi domain was first registered, someone purchased https://t.co/KLzoDxJjrz using the same registrar. Looks like Satoshi was contemplating between the two names and later dropped https://t.co/KLzoDxJjrz#Bitcoin pic.twitter.com/yqwZYRefvX

— Or Weinberger (@orweinberger) September 23, 2022

After further research, crypto locksmith Or Weinberger confirmed that no content was ever present on the Netcoin.org domain “except only after it was repurchased by another person later on.”

The decision to stick with Bitcoin may have been crucial to its success due to the fact that numerous members of the crypto community highlighted their dislike for the name Netcoin, as one stated:

“That’s interesting. I’m glad they stuck with Bitcoin, sounds way better.”

The finding further helps Bitcoin distance itself from the people that have previously claimed to be Satoshi Nakamoto. The Netcoin.org domain was later deleted and re-registered to a subsidiary of Web.com in 2010.

Related: El Salvador’s Bitcoin decision: Tracking adoption a year later

Despite the mysteries behind the creation of Bitcoin, the asset continues to dominate the financial markets. BitPay confirms this notion as its data showed Bitcoin to be a major payment tool despite huge price volatility.

Speaking to Cointelegraph, BitPay’s vice president of marketing Merrick Theobald stated that the sales volumes of Bitcoin-based payments on BitPay accounted for as much as 52% in the first quarter of 2022.

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Crypto Biz: DID you see what Africa is doing with Web3?

Decentralized identity services could play a vital role in promoting Web3 payments in emerging markets like Africa. This week’s Crypto Biz has the latest.

If you’ve spent any time reading about blockchain and Web3, you know that this industry is filled with big buzzwords and half-baked concepts. But, concepts such as decentralized identity services, or DIDs, bring real meaning and utility to Web3. If you haven’t yet wrapped your mind around DID, it refers to a self-owned, independent identity that enables trusted data exchange. In other words, it puts digital identity management and administration directly in your hands instead of some third party’s. 

In this week’s Crypto Biz, we take a look at a Web3 partnership designed to bring DID-powered payment solutions to Africa. We also chronicle Maple Finance, the European Central Bank and Nasdaq.

Payments platform Fuse integrates ChromePay to bring DID services to Africa

Is Web3 even possible without decentralized identity services, or DIDs? It depends on who you ask. For Web3 payment solutions Fuse and ChromePay, DIDs will play an essential role in expanding access to the decentralized internet, especially in places like Africa. This week, the companies announced a new partnership to bring a suite of DID-powered Web3 payment products to the African continent. Specifically, ChromePay will integrate the Fuse blockchain, allowing users to access both traditional and blockchain-based payments directly on their mobile devices.

Crypto is booming in Africa!

A new report reveals venture funding for African cryptocurrency startups grew 11x in 2022.

(Reporting via @ezrareguerra) https://t.co/aJwcPQSr9V

— Cointelegraph (@Cointelegraph) May 23, 2022

Maple Finance launches $300M lending pool for Bitcoin mining firms

Crypto lending platform Maple Finance is showing no signs of slowing down amid the bear market. The company announced this week that it would provide up to $300 million worth of secure debt financing to Bitcoin (BTC) mining firms. Why is this important? Well, for starters, the loan could help miners stay afloat during one of Bitcoin’s most severe downturns. The loan will be secured by physical and intellectual assets owned by the mining firms, including their BTC mining rigs.

European Central Bank chooses Amazon and 4 other firms to prototype digital euro app

The European Central Bank, or ECB, will prototype its digital euro app with five e-commerce and fintech companies led by Amazon. Nexi, EPI, Worldline and CaxaBank round out the list of partners the ECB has chosen to develop specific functions for the digital euro prototype. Although the ECB has been vague about its intent to release a central bank digital currency, the monetary authority appears to be laying the groundwork for its implementation. I’m no fan of CBDCs, so make of this what you will.

Nasdaq reportedly preparing crypto custody services for institutions

The bear market might be a perfect opportunity for institutional investors to learn about crypto and, by extension, begin investing in the digital asset class. (Regulatory clarity will also help.) It was reported this week that financial services firm Nasdaq is preparing to offer digital asset custody services — a move that could make buying and holding BTC and other cryptocurrencies more palatable for institutional investors. In my view, it’s only a matter of time before banks, hedge funds and family offices begin dabbling in crypto. At this stage, not considering Bitcoin is a major career risk for investors. Ignore BTC at your peril!

Before you go: Why did the crypto market dump after the Ethereum Merge?

Ethereum’s highly anticipated Merge was completed successfully last week, but even that didn’t prevent crypto prices from crashing again. In this week’s Market Report, I sat down with Marcel Pechman, Benton Yaun and Ray Salmond to discuss the factors impacting crypto markets. I also shared my thoughts on when Bitcoin could reach its definitive cycle bottom. You can watch the full replay below.

Crypto Biz is your weekly pulse of the business behind blockchain and crypto delivered directly to your inbox every Thursday.

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Framework to ban members of Congress and SCOTUS from trading stocks includes crypto provision

A bill based on the proposed framework banning crypto investments could help to “restore the public’s faith and trust in their public officials,” according to Zoe Lofgren.

Members of the United States House of Representatives and Senate as well as Supreme Court justices currently trading cryptocurrencies may have to stop HODLing while in office should a bill get enough votes.

According to a framework released on Thursday, chair Zoe Lofgren of the Committee on House Administration — responsible for the day-to-day operations of the House — said she had a “meaningful and effective plan to combat financial conflicts of interest” in the U.S. Congress by restricting the financial activities of lawmakers and SCOTUS justices, as well as those of their spouses and children. The bill, if passed according to the framework, would suggest a change in policy following the 2012 passage of the Stop Trading on Congressional Knowledge Act, or STOCK Act, allowing members of Congress to buy, sell and trade stocks and other investments while in office, but also requiring them to disclose such transactions.

“Congress can act to restore the public’s faith and trust in their public officials and ensure that these officials act in the public interest, not their private financial interest, by restricting senior government officials — including Members of Congress and the Supreme Court — and their spouses and dependent children from trading stock or holding investments in securities, commodities, futures, cryptocurrency, and other similar investments and from shorting stocks,” said Lofgren.

She added:

“I will soon introduce legislative text for a bill built on this framework for reform. Many Members have already concluded that reforms are necessary.”

The framework suggested that lawmakers and SCOTUS justices could still hold and disclose a portfolio with diversified mutual funds, exchange-traded funds, Treasury bills, and other investments that did “not present the same potential for conflicts of interest.” The bill’s framework also proposed disclosure amounts be more precise rather than the “extremely broad” range currently used — for example, fro$5 million to $25 million — and be available to the public.

Under the STOCK Act, lawmakers are required to report the purchase, sale or exchange of any investment over $1,000 within 30 to 45 days but the law provides minimal financial and legal consequences for not filing in time — sometimes as little as a $200 late fee. The proposed framework suggested enforcing fines of $1,000 for every 30-day period an individual was in violation of disclosure rules, increasing the late fee to $500, and authorizing the Department of Justice to bring civil actions if necessary. The House Press Gallery’s Twitter account reported on Thursday that the House could consider the proposed legislation as early as next week.

Senators Jon Ossoff and Mark Kelly proposed similar reforms for the STOCK Act in the Senate in January, but there has been no movement on the bill in more than 8 months. According to Lofgren, House Speaker Nancy Pelosi tasked the committee to review potential financial conflicts of interest in Congress. However, the speaker previously pushed back against efforts to prohibit lawmakers from owning or trading stocks, saying “they should be able to participate in that.”

Related: Powers On… Why US officials ignore ethics and STOCK Act by trading stocks?

A number of House members and senators have disclosed their exposure to crypto investments, including Illinois Representative Marie Newman, Florida Representative Michael Waltz, Wyoming Senator Cynthia Lummis, Texas Representative Michael McCaul, Pennsylvania Representative Pat Toomey, Alabama Representative Barry Moore, and New Jersey Representative Jefferson Van Drew. In December 2021, New York Representative Alexandria Ocasio-Cortez said it inappropriate for her to hold Bitcoin (BTC) or other digital assets because U.S. lawmakers have access to “sensitive information and upcoming policy.”

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Tornado Cash saga left a void, says Chainalysis chief scientist: Finance Redefined

A new report suggests the Ethereum staking ecosystem could become a formidable industry impacting a wider crypto economy.

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.

Chainalysis chief scientist shared his views on the Tornado Cash saga and said that the incident has left a void for illicit fund mixing services, but the real impact of the sanctions could be determined in the long run.

The staking ecosystem of Ethereum post Merge could have a significant impact on the crypto economy, according to a new report. Institutional lending platform Mapple Finance launched a $300 million lending pool for Bitcoin mining farms.

The Tribe DAO, a decentralized autonomous organization, voted in favor of repaying affected users of the $80 million exploit on DeFi platform Rari Capital’s liquidity pools. BNB Chain launched a new community-led security initiative called Avenger DAO.

Top-100 DeFi tokens by market cap have a mixed week in terms of price action, where many tokens traded in red while a few others showed weekly gains.

Tornado Cash left a void, time will tell what fills it — Chainalysis chief scientist

The sanctions on cryptocurrency mixer Tornado Cash have left a vacuum for illicit fund mixing services, but more time is needed before we’ll know the full impact, according to Chainalysis’ chief scientist.

During a demo of Chainalysis’ recently launched blockchain analysis platform Storyline, Cointelegraph asked Chainalysis chief scientist Jacob Illum and country manager for Australia and New Zealand Todd Lenfield about the impact of the Tornado Cash ban.

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Tribe DAO votes in favor of repaying victims of $80M Rari hack

After months of uncertainty, the Tribe DAO has passed a vote to repay affected users of the $80 million exploit on DeFi platform Rari Capital’s liquidity pools.

Following several rounds of voting and governance proposals, Tribe DAO, which consists of Midas Capital, Rari Capital, Fei Protocol and Volt Protocol, took the decision to vote on Sunday with the intent to fully reimburse hack victims.

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Staking providers could expand institutional presence in the crypto space: Report

The Ethereum blockchain’s carbon footprint is expected to reduce by 99% following last week’s Merge event. By positioning staking as a service for retail and institutional investors, the upgrade could also have a significant impact on the crypto economy, according to a report from Bitwise on Tuesday.

The company said it projects potential gains of 4%–8% for long-term investors through Ether (ETH) staking, while J.P. Morgan analysts forecast that staking yields across PoS blockchains could double to $40 billion by 2025.

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Maple Finance launches $300M lending pool for Bitcoin mining firms

On Sept. 20, institutional crypto lending protocol Maple Finance and its delegate Icebreaker Finance announced that they would provide up to $300 million worth of secured debt financing to public and private Bitcoin mining firms. Qualified entities meeting treasury management and power strategies standards located throughout North America, as well as those in Australia, can apply for funding.

On the other hand, the venture seeks to deliver risk-adjusted returns in the low teen percentages (up to 13% per annum) to investors and capital allocators. The pool is only open to accredited investors who meet substantial income and/or net worth qualifications within a jurisdiction.

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BNB Chain launches a new community-run security mechanism to protect users

BNB Chain, the native blockchain of Binance, has launched AvengerDAO, a new community-driven security initiative to help protect users against scams, malicious actors and possible exploits.

The security-centric DAO has been developed in association with leading security firms and popular crypto projects such as Certik, TrustWallet, PancakeSwap and Opera, to name a few.

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DeFi market overview

Analytical data reveals that DeFi’s total value locked registered a minor dip from the past week. The TVL value was about $50.64 billion at the time of writing. Data from Cointelegraph Markets Pro and TradingView show that DeFi’s top 100 tokens by market capitalization had a mixed week, with many tokens making a recovery toward the end of the week while a few others traded in red on the weekly charts.

Compound (COMP) was the biggest gainer, registering a 15% gain over the past seven days, followed by PancakeSwap (CAKE) with an 8.8% gain. Theta Network (THETA) was another token in the top 100 to post a 5% weekly gain.

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education in this dynamically advancing space.

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Moscow Exchange drafting bill on digital financial assets and securities trading: Report

The Russian stock exchange expects to become a registered digital asset exchange and begin trading both digital financial assets and digital asset-based securities.

The Moscow Exchange (MOEX) is drafting a bill to allow trading in digital financial assets and securities based on them, according to a report in the Russian press. The stock exchange is writing the bill on the behalf of the Central Bank, which does not have the power to introduce legislation, Vedomosti newspaper reported Sept. 22. 

Speaking at a banking conference, MOEX supervisory board chair Sergei Shvetsov said the bill in preparation foresees trading in both DFAs and DFA certificates that would trade like securities. “The exchange and its subsidiaries will apply to the regulator and I hope that they will receive the status of exchange operators” in order to trade in DFAs, Shvetsov said. He added:

“We want the market to make its own choice between blockchain accounting and depositary accounting, and if the law is passed, Russian depositories will be able to hold DFAs in their accounts on the blockchain – as soon as the client needs the underlying asset, they redeem the certificate and receive the asset in their account on the blockchain.”

Lack of familiarity is an impediment to distributed ledger technology in Russia, according to Shvetsov. “When you don’t know who to call and who to sue, many people don’t want to participate,” he said, but “It’s a blank sheet that we can draw whatever we want on, according to the needs of the economy and investors.”

Related: Drawbacks of centralization: Moscow Stock Exchange remains offline amid ongoing Russo-Ukrainian war

Shvetsov said that the bill is currently under review by the Russian Central Bank. State Duma finance committee chair and head of the Russian Banking Association Anatoly Aksakov suggested in July that MOEX become a crypto exchange, following the examples of the Toronto Stock Exchange and the Deutsche Boerse.

A MOEX spokesman said in August that the exchange expects to be permitted to trade DFAs. “It’s in the interests of our clients,” MOEX International managing director of strategy Artem Zheleznov said.

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The man who filmed the giant on the mountain died under mysterious circumstances

Something strange and gloomy happened to Canadian Andrew Dawson, who posted a video with a “giant” on a mountain on his TikTok account in early summer 2022. First, he was stalked, then he made an embarrassing admission that his video was a hoax, and then Dawson … died.

A mysterious giant figure on a mountain in Alberta, Dawson noticed by chance while driving to work with a colleague. He filmed the figure on video and posted it on the Internet. The video quickly became popular.

Dawson, meanwhile, became obsessed with solving the mystery of the giant on the mountain. He thought he had videotaped a yeti. He returned to the mountain, but did not see anyone on its slope, and when he wanted to go up the mountain, someone “influential” forbade him to do so.

Then Dawson began to be followed by someone. He began to notice suspicious people in a car near his house. He decided that he had filmed something that no one should have seen and that now he was being pursued by people from the CIA.

It ended with the fact that one day he posted a video in which he made a confession that his video with the giant was “only a hoax.” This gave rise to a lot of talks, but then the story of Dawson began to be forgotten.

The other day, one of the netizens studied the history of Dawson and found that Andrew Dawson had passed away. An obituary for him from his grieving relatives was posted on July 1, 2022 on websites in his region, and judging by the date, Dawson died shortly after he made the confession to the “hoax”.

When information about this hit social networks, many remembered that Dawson’s video confession looked very suspicious. The man was definitely nervous and kept looking to the side, as if there was someone who was ordering him what to do.

It is not known what Dawson died of, but his death was apparently sudden. There are even theories about suicide. But in the video, he looked like a vigorous and quite healthy-looking man, strong and caring for his appearance.

After the confession video, Dawson posted two more videos: one titled “I’m scared”, and the second shows the same mountain where he filmed the giant, on which Dawson noticed some kind of structure and asked the question “Military?”.

Before posting a video with a giant on a mountain, Dawson was quite an ordinary blogger, posted a lot of videos with his dog, ice cream, about work, relatives, experimented with hairstyles. Nothing showed that he was a fan of conspiracy theories, yetis, aliens, etc.

The post The man who filmed the giant on the mountain died under mysterious circumstances appeared first on Anomalien.com.

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Price analysis 9/23: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT

The strength of the U.S. dollar continues to negatively impact risk assets, but that did not prevent Bitcoin and select altcoins from staging a few strong rallies this week.

The S&P 500 index has declined about 5% this week while the Nasdaq Composite is down more than 5.5%. Investors fear that the Federal Reserve’s aggressive rate hikes could cause an economic downturn. The yield curve between the two-year and 10-year Treasury notes, which is watched closely by analysts for predicting a recession, has inverted the most since the year 2000. 

Among all the mayhem, it is encouraging to see that Bitcoin (BTC) has outperformed both the major indexes and has fallen less than 4% in the week. Could this be a sign that Bitcoin’s bottom may be close by?

Daily cryptocurrency market performance. Source: Coin360

On-chain data shows that the amount of Bitcoin supply held by long-term holders in losses reached about 30%, which is 2% to 5% below the level that coincided with Bitcoin’s bottom in March 2020 and December 2018. This metric suggests that Bitcoin could have more room to fall before it bottoms out.

Let’s study the charts of the S&P 500 index, the U.S. dollar index (DXY) and the major cryptocurrencies to determine whether the trend will continue or if a reversal is likely.

SPX

The S&P 500 index (SPX) broke below the 3,900 support on Sept. 16 and the bears successfully defended the level on retests on Sept. 17 and 21. Hence, this becomes an important level to keep an eye on as a break above 3,900 will be the first sign that bulls are on a comeback.

SPX daily chart. Source: TradingView

The downsloping 20-day exponential moving average (EMA) (3,920) indicates an advantage to bears but the relative strength index (RSI) in the oversold territory suggests that the index may attempt a rebound from the strong support zone between 3,715 and 3,636.

A weak rebound off this zone will indicate a lack of aggressive buying by the bulls. That could increase the possibility of a decline below the crucial June low at 3,636. If this support collapses, the index could plunge toward 3,325.

On the contrary, a strong rebound off the support zone could result in a recovery to 3,900. A break above this resistance could signal a potential trend change in the near term.

DXY

The U.S. dollar index (DXY) has been in a strong uptrend for the past few months. Every dip is being purchased aggressively and the index continues to scale new heights. Attempts by the bears to force a trend change failed when the price rebounded off the 50-day simple moving average (SMA) ($108) on Sept. 13.

DXY daily chart. Source: TradingView

After staying in a tight range for a few days, the index broke out to a new 52-week high on Sept. 21. This resumed the uptrend and the index could next attempt a rally to 115.

The sharp rally of the past few days has pushed the RSI into the overbought zone, which suggests a minor consolidation or correction is possible in the next few days.

The 20-day EMA (109) is an important support to watch for on the downside because a break below it could sink the price to the 50-day SMA. The bears will have to pull the price below 107 to indicate a possible trend change in the near term.

BTC/USDT

Buyers have been buying the dip below $18,626 in Bitcoin but the failure to push the price above the 20-day EMA ($19,841) shows that bears are in no mood to let go of their advantage. This increases the possibility of a retest of the vital June low at $17,622.

BTC/USDT daily chart. Source: TradingView

A break and close below $17,622 could create panic and the BTC/USDT pair may plummet to the next major support at $14,500.

While the downsloping moving averages indicate advantage to bears, the positive divergence on the RSI suggests that the selling pressure could be reducing. This view could strengthen if bulls drive and sustain the price above the 20-day EMA.

That could push the price toward the overhead resistance zone between the 50-day SMA (21,200) and $22,799. Such a move will suggest that the pair may continue its bottoming formation inside the large range between $17,622 and $25,211 for longer.

ETH/USDT

Ether (ETH) has been trading inside a descending channel pattern for the past few days. In a channel, traders usually buy near the support and sell close to the resistance.

ETH/USDT daily chart. Source: TradingView

The bears tried to sink the price below the channel on Sept. 21 but the bulls defended the level successfully. The bulls will try to push the price to the 20-day EMA ($1,467) where they may face stiff resistance from the bears.

If the price turns down from the current level or the 20-day EMA, it will suggest that the sentiment remains negative and traders are selling on every minor rally. The bears will then again try to pull the price below the channel and challenge the psychological support at $1,000.

Contrarily, if the price rises above the 20-day EMA, the pair could reach the resistance line of the channel. A break and close above the channel could suggest a potential trend change.

BNB/USDT

BNB has been oscillating between the 20-day EMA ($276) and $258 for the past few days. This shows that the bulls are defending the immediate support at $258 but they have failed to push the price above the 20-day EMA.

BNB/USDT daily chart. Source: TradingView

This tight-range trading is unlikely to continue for long. If buyers propel the price above the 20-day EMA, the BNB/USDT pair could rise to the resistance line of the descending channel. The bulls will have to overcome this obstacle to suggest that the corrective phase may be over. The pair could then attempt a rally to $338.

If the price turns down from the current level or the resistance line of the channel, the bears will again try to sink the pair below $258. If they manage to do that, the pair could decline to the support line.

XRP/USDT

XRP broke above the $0.41 overhead resistance on Sept. 20. The bears tried to trap the aggressive bulls on Sept. 21 but the buyers had other plans. They purchased the dip with vigor and thrust the price above the overhead resistance on Sept. 22.

XRP/USDT daily chart. Source: TradingView

The pattern target of the break from the $0.30 to $0.41 range was $0.52 and the same was reached on Sept. 23. This sharp move pushed the RSI into the overbought territory, suggesting a minor correction or consolidation in the near term. The long wick on the Sept. 23 candlestick shows profit-booking at higher levels.

Usually, after the breakout from a range, the price tends to retest the breakout level. In this case, the price could drop to $0.41. If bulls flip this level into support, the XRP/USDT will try to resume the up-move. If the price rises above $0.56, the next stop could be $0.66. On the other hand, a break below $0.41 could suggest that the recent breakout was a bear trap.

ADA/USDT

Cardano (ADA) bounced off the uptrend line on Sept. 22, indicating that bulls are defending this level with vigor. The price reached near the downtrend line on Sept. 23 but the long wick on the candlestick shows that bears are active at higher levels.

ADA/USDT daily chart. Source: TradingView

The 20-day EMA ($0.46) has started to turn down and the RSI is just below the midpoint, indicating a minor advantage to bears. If the price continues lower and plummets below the uptrend line, the ADA/USDT pair could drop to $0.40. This is an important level for the bulls to defend because a break below it could resume the downtrend.

If bulls want to gain the upper hand, they will have to drive and sustain the price above the downtrend line. The pair could then rise to $0.60 where the bears may again mount a stiff resistance.

Related: XRP hits 13-month high versus Bitcoin with 35% daily surge — But is a correction inevitable?

SOL/USDT

Solana (SOL) has been getting squeezed between the 20-day EMA ($33) and the immediate support at $30. This indicates a state of equilibrium between buyers and sellers.

SOL/USDT daily chart. Source: TradingView

This uncertainty is unlikely to continue for long. The bears will try to seize control by pulling the price below $30. If that happens, the SOL/USDT pair could drop to the strong support at $26. The bulls are expected to defend this level aggressively because if this support cracks, the SOL/USDT pair could witness panic selling and drop toward $20.

To invalidate this negative view in the short term, buyers will have to drive the price above the moving averages and the overhead resistance at $39. If they succeed, the pair could rally to $48.

DOGE/USDT

Buyers bought the dip below the immediate support on Sept. 21 but they are struggling to sustain Dogecoin (DOGE) above the 20-day EMA ($0.06) on Sept. 23. This suggests that bears continue to sell on rallies.

DOGE/USDT daily chart. Source: TradingView

The bears will attempt to increase their advantage by sinking the price below the immediate support near $0.06. If they do that, the DOGE/USDT pair could extend its decline to the June low at $0.05. This is a pivotal level because a break below it could indicate the start of the next leg of the downtrend.

Conversely, if the price sustains above the 20-day EMA, the pair could rise to the 50-day SMA ($0.07). If bulls pierce this resistance, the pair could rally toward $0.09.

DOT/USDT

Buyers successfully defended the critical support of $6 on Sept. 21 and 22 but the shallow bounce suggests that demand dries up at higher levels. The longer Polkadot (DOT) trades below the 20-day EMA (6.87), the greater the possibility of a break below $6.

DOT/USDT daily chart. Source: TradingView

If bears sink and sustain the price below $6, the selling momentum could pick up and the DOT/USDT pair could resume its downtrend. The next major support on the downside is at $4.

Alternatively, if the price rebounds off $6 or turns up sharply after breaking below the support, it will suggest that bulls continue to buy at lower levels. The bulls will have to propel the price above the moving averages to clear the path for a possible up-move to $10, which, again, is likely to act as a barrier.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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