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DIFI

Venus (XVS)XVS (Venus) Coin is one of the prominent projects in the field of decentralized finance (DeFi) that has significant growth potential due to its low market cap. This analysis highlights the following points: 📊 Comprehensive Analysis of XVS 🔍 Overview of the Analysis: Formation of PRZ (Potential Reversal Zone): A key area consisting of the weekly resistance and ascending channel ceiling, which could determine the continuation of the price trend. Breaking this zone is crucial for further upward movement. 🕰 Technical Analysis: Current Status (Short-term): In the daily timeframe, the price is currently testing the daily resistance (yellow zone). It is highly likely that this resistance will break, leading the price to the PRZ area. Significance of PRZ: The PRZ, formed by the weekly resistance and ascending channel ceiling, acts as a critical decision point. Breaking this zone could trigger a powerful and sharp upward movement. 🎯 Price Targets: First Target: The green resistance area, aligned with the 1.618 Fibonacci level. Second Target: The all-time high, coinciding with the 2.618 Fibonacci level. 📌 Key Takeaways: Breaking the daily resistance (yellow area) in the short term is likely to guide the price toward the PRZ. Breaking the PRZ (weekly resistance and the ascending channel ceiling) is essential for sustaining the upward trend.
Long
by alizeynali69
August 1 BTCUSD BingX Chart Analysis and Today's Headline BingX’s Bitcoin Chart According to Glassnode, the number of addresses holding 1+ Bitcoin just reached an ATH of 890,993. Bitcoin is down 1.32% over the last 24 hours and fell to an intraday low of $23,238.04. The largest cryptocurrency failed to sustain above the $24,000 price level during the weekend, suggesting the sellers remain active at this level. If the BTC/USDT pair breaks and closes above $24,000, the pair could rally to $28,000. Conversely, if the Bears pull the price below the 20-day exponential moving (EMA) ($22,521), the pair could find support around the 50-day moving average (MA) ($21,985). Today’s Cryptocurrency Headline Aave DAO Approves Launch of Algorithmic Stablecoin GHO DeFi protocol Aave’s proposal for the creation of the algorithmic stablecoin GHO has been approved by the Aave DAO, with an approval rate of 99.99% (501,000 AAVE). Aave will enable the creation of GHO stablecoins through an Aave improvement protocol (AIP), with the Aave DAO in charge of supervising the stablecoin’s distribution once its creation has been vetted. Users looking to mint GHO will deposit cryptocurrencies accepted by Aave as collateral. Apart from acting as collateral, these deposits will also earn yield on Aave. The lending protocol will also charge interest on loans taken out in GHO, with payments going back to the Aave DAO. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX