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The crypto show is getting interesting, and the best part is that there are not the usual suspects stealing the show. While Ethereum (ETH) faces stubborn resistance at $2,600 and Binance Coin (BNB) is picking up momentum to rally ahead, at the same time, a new contender is emerging from the shadows and is poised to be the main show stealer.
Intel Markets (INTL) with its cutting-edge AI-powered technology and an incredible dual-chain model, has got the investors buzzing and their wallets emptying. This is not just another altcoin under the spotlight; it is here with the big aim of revolutionizing the trading world. Let’s dive into the details!
Ethereum (ETH) is in an unusual situation right now. Nobody seems to understand why the price is locked between $2,575 and $2,650. The price increased by only 1.22% today, reaching roughly $2,650.12. This steady crawl has traders questioning if Ethereum is interested in a breakout or simply taking a lengthy nap.
Meanwhile, the bearish mood is still present monthly, with ETH down 23.59%. However, the recent movement of ETH whales indicates that anything may happen.
Some large ETH investors, known as whales, recently shifted their coins, raising concerns about future selling pressure on the ETH price. Over the last week, more than 8,000 ETH has been transferred to renowned exchanges, including Binance and Coinbase.
Ethereum (ETH) is battling to break over $2,623. These whale actions may make it much more difficult for ETH to rise higher. Furthermore, the technical analysis advises caution since Ethereum (ETH) is in the critical zone, hovering around its 50-day Simple Moving Average (SMA). If it remains above the 50-day SMA, it may indicate strength. However, if it falls below, we may witness additional decreases.
The support levels to monitor are $2,500 and $2,300. These might be possible buying zones for investors wishing to enter or expand their portfolios.
Binance Coin (BNB), the BNB chain's native coin, is gearing up to extend its seven-day gains. The coin's price movements on a one-day chart show that it has broken above the descending channel in which it has traded since early June.
If this breakout is successful, the fourth most valuable cryptocurrency will trade at a monthly high of $598.90 or higher; but, if BNB fails to sustain its present levels, it may fall below $480, the lower bound of the wedge pattern.
BNB's price, as of August 23, 2024, was around $578.99. This represents a remarkable 11.48% increase over the previous seven days, adding to the 179.1% increase over the previous twelve months.
This excellent success is driven by a number of significant factors, including Binance's deliberate expansion of its compliance team, dovish Fed signals, and a market climate that continues to favor cryptocurrencies.
Intel Markets (INTL) is a cutting-edge trading platform that is expected to disrupt the trading industry. AI trading will become more accessible to retail consumers thanks to this platform, which is supported by seasoned experts from Google, OpenAI, and Renaissance Technologies.
With over 100,000 data points integrated to power the trading robots, the platform is the first enterprise-scale solution of blockchain technology and artificial intelligence. With a private seed round that raised over $550,000 from institutional investors, Intel Markets (INTL) has gotten off to a great start in the market.
The platform's features, which include real-time data processing, autopilot trading robots, and multichannel analysis, have cryptocurrency enthusiasts excited.
The platform just opened up a public presale after the success of its private seed round. Similar to the private seed round, the public presale was incredibly well-received. In just a few days, the presale collected more than $137,000.
For the amazing price of $0.018 right now, you can get the INTL token, but as the presale goes on, expect it to skyrocket to $0.1 and beyond. Because of its strong technology stack and present infrastructure, Intel Markets (INTL) is regarded as a major competitor to many of the industry titans.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
