Crypto market back in channel under big resistance.

17.11.2023

Dear traders,

After longs are trap price fall under strong resistance and this could be start of bigger drop.

Jake
TOP Trader

BTC push down after hitting strong resistance and it is still in danger of falling down to big support area 35k. Take care of your positions big traps are building.

ETH is pushing from strong resistance and retesting $1900 as support. It’s still in danger of a bigger drop if the $2000 resistance holds strong.

XRP is losing momentum and pushing back under the $0.62 channel. It needs a strong push with buying volume to drive the price up. Still, $0.62 shows strong resistance, and a break above will indicate bullish continuation.

LINK is retesting $15 as resistance after a significant breakout and needs to hold it on the daily chart for bullish continuation. Still, a big, strong push up is needed to break the strong resistance.

SOL holding above 57$ what acting now as support and need to hold it for bigger push up continuation.

EOS broke above the $0.7 resistance and is now preparing for a bigger push up to $0.79 if it manages to hold within the $0.7 trading zone.

LTC has broken through a strong resistance at $70 and is now ready for a bigger price push, returning to a bullish channel.

The DXY, having declined due to the decrease in US inflation, is now approaching a significant support level at 103.5.

Crypto/stock daily news:

TRADER JAKE MARKET MOVERS!

We’ve been getting non-stop alerts from Trader Jake HQ this week…

*DaDaDa, DaDaDa*

…oh, there goes another one!

It’s our TRADER JAKE Market Movers Alert, complete with the iconic ESPN sound effect (if you’re familiar with it). The alert

goes off when token prices experience significant increases within a short period. Here are some notable tokens that have seen

substantial price pumps this week:

It’s our TRADER JAKE Market Movers Alert. And yes, we gave it the ESPN sound effect. (If you know, you know).

It goes off when token prices increase by a lot, in a short period. Here are some of the tokens that have seen big price pumps this week:

$AVAX: +69% (nice)

JPMorgan announced it’s using the Avalance blockchain to test out tokenized portfolios for asset management.
Additionally, many investors are looking to other Layer 1 networks as gas fees on Ethereum are spiking.

$RNDR: +36%

Render has seen a big pump with the recent A.I. narrative happening in crypto.
It offers a decentralized marketplace for users to exchange GPU compute power (this helps computers display graphics and solve complex tasks).

$SOL: +33%

Solana hasn’t had much actual “news” around it recently. But a lot of big names (including Vitalik himself) have commended the network, and several metrics are reaching all-time highs in the bear market.
Solana’s NFT and developer community has also accelerated, with additional hopes that Solana’s Virtual Machine (SVM) can bring new apps and developers.
Lastly, Solana is showing glimpses of a DeFi summer, with lots of new wallets being created and many token-less projects launching incentive programs.

OKX IS LAUNCHING A NEW LAYER 2 ️

There’s a new Layer 2 network hitting the block[chain].

It’s called X1. Here’s the 45-second rundown:

It’s being launched by the OKX crypto exchange.
X1 will be built using Polygon’s Chain Development Kit (CDK). This allows devs to easily create new Layer 2 networks.
OKX’s native token (OKB) will be used for gas fees.
It’s expected to go live in early 2024.

Why this matters: OKX is one of the most popular centralized exchanges (CEXs) out there. It has 50M+ users around the world.

This is OKX’s attempt to bring millions of users on-chain.

And it isn’t the first CEX to try it either. Coinbase launched BASE earlier this year, and it’s already the 3rd most active Layer 2 behind Arbitrum and Optimism.

We’ll see if OKX’s new Layer 2 can get similar results.

FAST NEWS:

Bitwave is laying the foundation for blockchain companies to simplify their accounting and taxes. Equipped with robust integrations, a high level of client customization, and high-touch customer service. Check out our review of their platform!

BlackRock filed paperwork for a spot ETH ETF. There it is… from BTC ETFs to ETH ETFs. Buckle up, the institutions are coming.

The National Hockey League (NHL) is launching a new NFT collection called “NHL Breakaway”. The twist? The NHL is calling them digital collectibles instead of NFTs.

Blockchain.com raised $110M. The crypto exchange received funding from Kingsway Capital, Lightspeed Venture Partners, and Coinbase Ventures.

Paris Saint-Germain F.C. is launching a new NFT collection. 10% of the collection will be redeemable for a box of physical items from the soccer club.