Bear market continues. Will we see another breakdown?

22.09.2023

Dear traders,

The market is losing momentum, and there are many bearish signs on the charts.

Jake
TOP Trader

BTC has broken its uptrend and is showing bearish momentum with a high possibility of breaking down if it doesn’t hold at $26,200. It remains bearish in the long term.

ETH broke below the $1,630 resistance and is losing momentum, with a significant possibility of a sharp drop. However, it still requires substantial buying volume to initiate an upward push.

XRP dropped to the $0.50 support after hitting strong resistance at $0.52. It remains in danger if the $0.50 support is lost.

LINK encountered strong resistance at $7 but is holding above the 200MA, which is bullish if it manages to maintain this position for an extended period.

SOL broke below the strong $20 resistance, and there is a significant possibility of a strong rebound. It is still in danger of bearish continuation.

EOS is attempting to break the strong $0.60 resistance and is currently pushing the price up strongly. However, it still requires significant buying volume to sustain the price increase.

LTC encountered strong resistance and continues to trend downward, requiring substantial and strong buying volume.

DXY is pushing above 105 and has a bullish momentum with an aim toward 108.

Crypto/stock daily news:

WHAT CRYPTO ADOPTION AROUND THE WORLD LOOKS LIKE…

I fell down the Internet rabbit hole last night…

It all started because I was curious about one thing: where is crypto being adopted the most?

Well check it out, this is the 2023 Global Crypto Adoption Index.

What it does: combines on-chain and real-world data to figure out which countries are leading in crypto adoption.

Why it’s cool: instead of just focusing on raw transaction volume (which can sway data toward wealthier countries), it measures the rate at which average, everyday people are adopting crypto.

Here are some of the top takeaways:

India is #1 in crypto adoption. This is pretty surprising considering India charges a 30% tax on crypto gains.

Nigeria is #2. The country has seen a 9% year-over-year growth in crypto transactions (the 3rd biggest yearly growth in the world).

6 of the top 10 countries adopting crypto are located in the Central & Southern Asia and Oceania (CSAO) region.

CSAO regions account for 20% of all global crypto adoption.

Ukraine is the only European country ranked in the top 10.

And then, there’s Greenland.

It has as much crypto adoption as it does “green land” – 0.

The biggest takeaway: most of the countries on the list have been plagued with devaluing fiat currencies, high interest rates, and corrupt governments.

In other words, crypto is being adopted where crypto is needed most.

MAJOR LEAGUE BASEBALL HITS THE METAVERSE

Yesterday was a big day for the metaverse.

Major League Baseball (MLB) hosted its first virtual game.

The Tampa Bay Rays vs. Los Angeles Angels game (played in real life, in a real stadium, in Florida) was fully recreated in the metaverse – in real-time.

It used MLB’s Gameday 3D tech to showcase renderings of the baseball game. (i.e. player movements, equipment, etc)

Fans could select the angles they want to watch, and could also talk to other online fans through spatial audio as their avatars interact in the digital environment.