Market News: Attempting to Break Strong Resistance Levels

27.09.2023

Dear traders,

Crypto markets are pushing against strong resistance levels, and the question remains whether news will break through and trigger a significant surge.

Jake
TOP Trader

BTC is currently attempting to break the $26,800 resistance, aiming for a more substantial upward push. The long-term outlook, however, remains bearish.

ETH is making an effort to break the $1,630 resistance, but it continues to hold firm before potentially making a stronger move upward. Nonetheless, it requires a substantial increase in buying volume to initiate an upward movement.

XRP has fallen to the $0.50 support level after encountering significant resistance at $0.52. Its position remains precarious, and losing the $0.50 support could be concerning.

LINK has encountered strong resistance at $7.5 and needs to break through it for a bullish continuation. It remains vulnerable if the resistance manages to hold.

SOL is still consolidating at $19 and is showing no signs of strength to push higher. However, it carries the risk of a bearish continuation.

EOS is consolidating at $0.57 and needs a more significant push to break the strong $0.60 resistance. Sustaining a price increase still requires a substantial increase in buying volume.

LTC is still trading and consolidating at $63, with a significant possibility of a breakdown.

DXY is breaking bullish, surpassing 106 and aiming for a target of 108.

Crypto/stock daily news:

NASA, THE BLOCKCHAIN, AND THE MOON

Houston, prepare for liftoff…

The blockchain is headed to the Moon. (well, sort of)

The National Aeronautics and Space Administration (NASA) is teaming up with Lonestar and the Isle of Man to use blockchain technology to safely secure data on the Moon.

NASA will send a payload containing “data cubes” to the Moon.

Digital stamps will be created and stored in the data cubes.

Once installed, the data will be verified by blockchain tech on Earth to make sure the data is authentic and hasn’t been tampered with.

There are 2 goals:

1/ Create a new data storage solution (that isn’t on Earth).

This could help data sharing accuracy and transparency for agencies that are exploring the Moon.

2/ Prove (once and for all) that the Moon landings are real.

It’s been a never-ending debate about whether the U.S. actually landed on the Moon back in 1969.

The government says there’s no doubt it happened.

But when asked to prove it, it’s turned out to be “extremely difficult”.

The blockchain is looking to help solve that.

FAST NEWS:

Coinbase has successfully received registration from the Bank of Spain. The exchange can now offer crypto custody and crypto trading services.

Microstrategy bought another $147M worth of Bitcoin. The software company now holds ~$4.68B worth of Bitcoin. #CantStopWontStop

HTX (formerly “Huobi”) was hacked for 500 ETH, worth $8M. The exchange says it has fully covered the losses.

Yuga Labs is teaming up with BAPE to launch a new NFT collection. The collection will debut on November 4 during ApeFest in Hong Kong.

LG Electronics and the Label Foundation are teaming up to drop a new web3 music streaming platform called “Tracks”. The music platform will also soon be available on the latest version of LG Smart TVs.