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Ethereum, Ripple, Cardano, Binance Coin, and Solana

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This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Solana.

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Ethereum (ETH)

Ethereum had a very painful time in June, with the price dropping under $1,000. However, these declines have brought back buyers, and in the past seven days, ETH has increased by 9%. At the time of this post, ETH is sitting comfortably above the key support level.

This price action may turn into a significant relief rally with potential targets at $1,420 and $1,700. These levels will act as resistance if reached. For now, ETH is making higher lows, and the momentum is bullish. The MACD on the daily timeframe has also crossed to the bullish side yesterday, which confirms this bias.

Despite this, many market participants remain skeptical about the price going up, but after such a long correction, this should not surprise anyone. Rallies during bear markets can be significant, particularly when the price has been in a downtrend since March.

ETHUSD_2022-06-24_11-10-13
Chart by TradingView

Ripple (XRP)

XRP had a strong performance this week, rallying by 19.5% in the past seven days. This latest push higher has taken the cryptocurrency to the key resistance at $0.38. It would be quite impressive to see it continue up without much regard for the resistance.

During the crash last week, XRP found good support at $0.30, and it acted as a strong pivot for its current rally. The short-term indicators on the daily timeframe have also turned bullish, and the RSI has moved above 50 points, placing it on the bullish side.

Looking ahead, the biggest question is if XRP will manage to break the key resistance. If so, buyers could push the price back to around $0.5, which would recover in full the losses in June.

XRPUSDT_2022-06-24_11-18-14
Chart by TradingView

Cardano (ADA)

While Cardano has shown tremendous strength at the $0.45 key support level, it has disappointed in its recovery by failing to rally in a significant way to date. For this reason, its price only increased by 4.3% in the past seven days, which is five times lower than altcoins like XRP.

The price is condensing above the key support, and the indicators on the daily timeframe just turned bullish today with a MACD crossover to the positive side. Of course, this is a short-term outlook. On larger timeframes, the cryptocurrency remains in a downtrend.

Looking ahead, ADA may attempt to rally in the coming week to challenge bears at the $0.55 key resistance. If successful, then ADA could reach all the way to $0.66.

ADAUSDT_2022-06-24_11-26-33
Chart by TradingView

Binance Coin (BNB)

Binance Coin found itself in very dangerous waters in June when it trended under $200. This is because a price under that level would invalidate the uptrend set since March 2020. Luckily for BNB, this incursion under $200 was brief and short-lived. Since then, the price has been trending upwards, and the key support at $200 remains strong.

BNB had a good recovery so far, registering a 12% increase in the past seven days. This relief rally could continue up to $267, where the first resistance is found. If that won’t hold back the bulls, then the next key level to watch for is $347.

With the indicators turning bullish for Binance Coin, the bias is bullish in the near to medium term. However, be on guard as soon as the price approaches the first resistance at $267. A sharp rejection there could turn the sentiment bearish again.

BNBUSDT_2022-06-24_11-34-06
Chart by TradingView

Solana (SOL)

Since touching the support at $27, Solana had only one direction: up. For this reason, in the past seven days, SOL registered a 32% price increase. This makes it the best performer on our list. Most recently, the price has broken above the key resistance at $37, and it may soon challenge the resistance at $44.

This action and volatility have made SOL both the best and worst performer in the past, depending on the market trend at the time. Market participants have to account for this type of volatility in the future when considering Solana.

Looking ahead, SOL could continue to maintain its current uptrend in the near term. However, there will be some strong resistance as the price approaches $50. A rejection there could lead to a significant correction again.

SOLUSDT_2022-06-24_11-40-52
Chart by TradingView
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.



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Solana (SOL) Shows Second Worst Weekly Performance Among Top 100

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Solana’s SOL token ends this not-so-pleasant week for the blockchain at 9.93% cheaper than its initial values. This result puts SOL second from the end in the list of the top 100 cryptocurrencies by weekly performance by CoinMarketCap.

It is likely that such negative price action of SOL was aggravated by the situation with the hacking of wallets on the blockchain. As soon as the news of the hacking of Solana wallets became known, SOL dropped by 9%. At the same time, Solana still ranks ninth in the top cryptocurrencies by market capitalization with an estimated value of all circulating SOL tokens at $13.86 billion.

Solana’s good and bad PR

All week there were various speculations about what and how, when at last the version that the Slope application was to blame was presented. As it turned out, Slope was storing the seed phrases from wallets on centralized servers. The head of Solana Labs, Andrei Yakovenko, commenting on the situation said that any user who at least once imported their seed phrase into Slope could consider it compromised.

Sam Bankman-Fried, founder of FTX and one of the most prominent figures in the crypto market at the moment, also expressed his support for the project. According to the entrepreneur, because of bad PR Solana is the most undervalued project right now, and the SOL token is the most undervalued digital asset. He also said that any other project would break down the same way if it tried to do what Solana does.

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At the same time, it would be wrong not to notice that Sam Bankman-Fried with his FTX and Alameda are directly affiliated with Solana, and the entrepreneur’s comments should be taken from that perspective.



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Solana Technical Analysis Report | 4th-AUG-2022

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SOL, the native token of the Solana network, is a popular asset with a market capitalization of $13.6 bn. The asset dipped under the 20-day EMA ($40) this Tuesday and fell to the 50-day SMA ($37) yesterday. The reason for this dip might be due to the negative publicity it got over the $8 Million […]
The post Solana Technical Analysis Report | 4th-AUG-2022 appeared first on ZebPay.

SOL, the native token of the Solana network, is a popular asset with a market capitalization of $13.6 bn. The asset dipped under the 20-day EMA ($40) this Tuesday and fell to the 50-day SMA ($37) yesterday. The reason for this dip might be due to the negative publicity it got over the $8 Million user fund having been taken out by unknown hackers from the Solana-based hot-wallets which included TrustWallet, Phantom, and Slope. This made the Solana ecosystem the biggest victim of the crypto asset hack. 

Read more: Solana Ecosystem Under Attack

At the time of writing, SOL was trading at $39.7.

Solana (SOL) Chart | 4th August 2022
Solana (SOL) Chart

SOL made a ‘Shooting Star’ (Bearish) candle on 2nd April at $143 and plunged by almost 81% within three months making the low of $25.86. Post this move, the asset made a ‘Tweezer Bottom’ pattern at the low and rallied up to $47.36. Currently, on a daily time frame, SOL is trading in a ‘Symmetrical Triangle’ pattern where the ascending trendline acts as a support and the descending trendline acts as a strong resistance. Breakouts on either side of the pattern with good volumes will further decide the trend for the asset.

Support 2 Support 1 Asset Resistance 1 Resistance 2
$25 $32 SOL $48 $60

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation, or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness, or reliability of the information, opinions, or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in crypto assets viz. Bitcoin, Bitcoin Cash, Ethereum, etc are very speculative and are subject to market risks. The analysis by the Author is for informational purposes only and should not be treated as investment advice.

The post Solana Technical Analysis Report | 4th-AUG-2022 appeared first on ZebPay.





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Solana holdings on Phantom, Slope, and Trust wallets compromised

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The Solana ecosystem appears to have suffered a close to $ 6 million hack, wiping off Solana tokens ( SOL) on a few hot wallets on Tuesday evening. The details about the hacker remain unknown as of today. The hack has occurred on Phantom, Slope, and Trust wallets wiping off the assets of close to […]
The post Solana holdings on Phantom, Slope, and Trust wallets compromised appeared first on ZebPay.

The Solana ecosystem appears to have suffered a close to $ 6 million hack, wiping off Solana tokens ( SOL) on a few hot wallets on Tuesday evening. The details about the hacker remain unknown as of today. The hack has occurred on Phantom, Slope, and Trust wallets wiping off the assets of close to 8000 accounts as per Blockchain auditor Otter Sec. While users pointed out that the hack has occurred on Phantom wallets, the company has denied the claim quoting “We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem. At this time, the team does not believe this is a Phantom-specific issue” via a Twitter post. 

Solana Under attack report

Slope said that they are currently working with Solana labs to rectify this issue and get to the exact root cause of the compromise via a Twitter post.

Slope Finance Solana News

The hack could have occurred as a result of exposing private keys to a browser extension leading to a potential compromise as per reports.

Otter Sec has posted images on Twitter showing the hot wallets being compromised. Hot wallets are Crypto wallets connected to the internet at all times, these are different from exchange wallets. The attacker was able to sign and initiate transfers on behalf of users suggesting a private key compromise. 

Solana is currently the 9th largest Crypto asset with a market capitalization of $ 13 billion. At the time of writing, Solana has dropped by roughly 3.85% in the last 24 hours as per Coinmarket Cap. 

How to keep your holdings safe

Wallet Security:

Always ensure that your wallets are secure and never share your private keys with anyone. 

Beware of Scamsters:

ZebPay never asks users to share any information via email, phone, or Social Media. Beware of impersonators who pretend to represent the company. There may be no recourse from loss in such transactions.

Free money scams:

Never give into scams that promise to multiply your wealth. No market assets can promise assured returns, and it’s important to note that there is a risk associated with Cryptos which are subject to market conditions.

While this hack has occurred on hot wallets, holders of Solana on Crypto Exchanges don’t need to worry about this. Your holdings are safe on your Zebpay wallet. At Zebpay customer asset safety is our top priority and we consistently strive to make Crypto trading experiences better for you.

The post Solana holdings on Phantom, Slope, and Trust wallets compromised appeared first on ZebPay.





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Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”

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