Resistance still strong will it menage to break.

18.10.2023

Dear traders,

Strong resistance in front of crypto market If break and hold on daily we could see bullish continuation.

Jake
TOP Trader

BTC retest 29k$ resistance but it is still strong for bigger push up. In mid term BTC price action is still bullish and break above old resistance 29k$ could mean big breakout to 32k$ or bigger.

ETH has surged from the $1,550 support level and needs to breach the $1,630 resistance on a daily basis for a significant upward push. However, there is still a risk of a significant downturn and bearish momentum.

XRP has rebounded from its $0.48 support level and must now surpass the strong resistance at $0.50 to trigger a larger upward movement.

LINK is displaying bullish momentum, but it must maintain support above $7.5 for a more substantial upward push. Currently, it faces strong resistance at $7.5 on a daily closing basis.

SOL is demonstrating bullish momentum and is attempting to break through the formidable $24 resistance level. However, it still lacks the necessary buying pressure to overcome this strong resistance.

EOS is still grappling with a strong resistance level at $0.6 and needs to hold above it to facilitate a larger upward move. Achieving a sustained price increase depends on a significant surge in buying volume.

LTC is currently trading in the mid-range around $65 and is struggling to gather enough buying momentum to break through the $70 resistance line.

DXY is losing momentum and needs to hold above 106.2 for a bullish continuation.

Crypto/stock daily news:

A BIG CHANGE IS COMING TO UNISWAP

Uniswap Labs just dropped some big news…

What happened: It will start charging a 0.15% swap fee.

The fee will only be charged on swaps done through Uniswap Labs’ front end. (i.e. website and app)

The fee will only be on certain tokens like ETH, USDC, USDT, EUROC, and DAI.

Stablecoin swaps will not be taxed.

The fee is being introduced to “sustainably fund” operations.

Why this matters: Uniswap Labs created Uniswap – one of the most popular decentralized exchanges in crypto.

It’s done $4.6B in volume over the last week and has $3B+ in total value locked (TVL) – which is 2x the next closest DEX.

Uniswap is putting up Wilt Chamberlain numbers.

Well, its recent move to implement a swap fee doesn’t come without some controversy…

Many people were anticipating that Uniswap would turn on a fee switch to reward UNI token holders, but this fee is to fund internal operations.

Other DEXs without swap fees are using this announcement to try to gain market share.

The list of tokens that incur a fee includes many of the most popular trading pairs.

Uniswaps token (UNI) is down 3% on the news. Tough crowd.

WEEKLY CRYPTO FUNDS FLOW REPORT

CoinShare’s latest weekly Digital Asset Fund Flows Report just dropped…

The results? $15M in inflows.

Here’s everything else you need to know:

Bitcoin led the way, again. The OG cryptocurrency saw $16.4M in total inflows last week, bringing its yearly total to $260M.

European funds are loving crypto. Sweden was the only European country that saw outflows last week.

SOL and XRP have been investors’ favorite altcoins. SOL saw the most inflows amongst altcoins, while XRP saw its 25th straight week of inflows. Impressive.

The best part? It was the 3rd straight week of inflows.