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Breaking Crypto Stories

Here are the top stories today:

• CBOE announces official launch date for spot Ethereum ETF

• Binance.US Allowed to Invest Customer Assets in U.S. Treasury Bills

• Crypto Networks Unaffected During Major CrowdStrike Outage

⌛️CBOE announces official launch date for spot Ethereum ETF

Five spot Ethereum ETFs will begin trading on the CBOE on July 23, pending regulatory approval, with analysts forecasting significant inflows and potential price volatility due to increased demand and lower liquidity.

• Five spot Ethereum ETFs will start trading on the Chicago Board Options Exchange on July 23, pending regulatory approval.

• SEC approved rule changes for listing spot Ether ETFs, but each fund issuer's S-1 registration must be approved before trading begins.

• Analysts predict significant inflows into Ethereum ETFs, potentially reaching $10 billion this year, with price volatility expected due to lower liquidity and increased demand.

🧑‍⚖️Binance.US Allowed to Invest Customer Assets in U.S. Treasury Bills

A judge has allowed Binance.US to invest customer funds in U.S. Treasury bills under strict conditions amid the ongoing SEC case against Binance and its former CEO, Changpeng Zhao.

• A U.S. District Court judge has permitted Binance.US to invest certain customer funds in U.S. Treasury bills, with the condition of using third-party investment advisers and custodians.

• Binance.US must transfer crypto assets to a third-party custodian and ensure enough dollars on its platform for customer withdrawals, with investments maturing on a rolling four-week basis.

• The ruling is part of the ongoing SEC case against Binance and its former CEO, Changpeng Zhao, who is serving jail time for charges from the Department of Justice.

🖥️Crypto Networks Unaffected During Major CrowdStrike Outage

During a significant global IT outage, blockchain networks such as Bitcoin and Ethereum continued to operate smoothly, underscoring the reliability and resilience of decentralized systems compared to centralized services.

• Blockchain networks like Bitcoin and Ethereum remained operational during a major global IT outage that affected courts, healthcare, airlines, and other services.

• Prominent figures in the crypto community highlighted the reliability of decentralized networks compared to centralized services, with many emphasizing the security of not using automatic updates.

• The IT outage was caused by a flawed automatic update from CrowdStrike for Windows, which did not affect Linux or Mac versions, showcasing the importance of diverse operating systems in maintaining blockchain resilience.

Meme of the Day

Potential Trade Opportunities

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Ripple (XRP)

The XRP Price Could Surge to $0.626 as It Approaches Resistance

Price Movements: XRP has shown a gradual upward trend, evidenced by recent peaks at $0.5921. The 9 and 20 Exponential Moving Averages (EMAs) indicate a bullish sentiment, with the 9 EMA at $0.5762 and the 20 EMA slightly lower at $0.5726. The Moving Average Convergence Divergence (MACD) values exhibit a narrowing gap between the MACD line and the signal line, suggesting a potential bullish crossover. Additionally, the Relative Strength Index (RSI) has risen to 59.01, indicating a shift towards bullish territory without reaching overbought levels.

Key Levels To Watch: Traders should keep an eye on several key levels for XRP. The immediate resistance is at $0.5921, and a sustained move above this could propel the price towards the next significant resistance at $0.626. Conversely, if the price fails to maintain its upward trajectory, it may find support at $0.5494 and $0.528, with a strong support level at $0.5279. These levels are crucial for determining the future direction of XRP's price movement.

Potential Trade Strategies: Given the current technical setup, traders might consider different strategies based on the price's behavior around these key levels. For a long position, entering if XRP breaks above the $0.5921 resistance could be viable, with a target set at $0.626 and a stop-loss placed just below the $0.5494 support to mitigate risk. Alternatively, a short position could be taken if XRP fails to hold above $0.5921, targeting the $0.5494 support level, with stop-losses placed above $0.5921 to limit potential losses. Monitoring the evolving MACD and RSI trends will also be crucial for making informed trading decisions.

Solana (SOL)

Solana Price Prediction: SOL Could Undergo a Major Move

Price Movements: Solana is showing strong bullish momentum on the 4-hour chart, with recent closing prices reflecting a steady upward trend. The latest close at $170.12, coupled with the 9 EMA consistently above the 20 EMA, indicates robust short-term bullish sentiment. The MACD further supports this outlook, as the MACD line remains above the signal line with a positive histogram, suggesting growing buying pressure. However, the RSI values, ranging from 71 to 74, indicate that Solana is approaching overbought territory, which could lead to a potential pullback.

Key Levels To Watch: For Solana, key support levels are at $169.12, $168.29, and $168.28. These levels have proven to be resilient and could serve as entry points for buyers. On the upside, resistance levels are identified at $171.04, $172.35, and $174.40. Breaking through these resistance levels could trigger a significant price rally, attracting momentum traders and potentially leading to sustained upward movement.

Potential Trade Strategies: Given the current technical setup, traders might consider entering long positions near the support levels of $169.12 and $168.29, offering a favorable risk-to-reward ratio if the bullish momentum continues. For those looking to short Solana, resistance levels at $171.04 and $172.35 provide strategic exit points, where selling pressure might increase. Monitoring the RSI for signs of divergence or reversal patterns will be crucial for making informed trading decisions, especially as Solana approaches overbought levels.

Shiba Inu (SHIB)

Shiba Inu Price Prediction as Technicals Send Mixed Signals

Price Movements: The Shiba Inu price has shown mixed sentiment on the 4-hour chart over the past 48 hours, with recent closing prices indicating a slight uptrend while facing potential resistance and support challenges. The 9 EMA and 20 EMA values are converging, signaling a potential shift in trend, with the 9 EMA trending slightly higher than the 20 EMA, suggesting short-term bullish momentum. However, the MACD reveals a bearish divergence, indicating that while there is short-term bullish sentiment, the overall trend may still lean bearish.

Key Levels To Watch: Shiba Inu is currently trading near a significant resistance level at $0.00001810, which needs to be broken to confirm a bullish trend. Additional resistance levels are at $0.00001818 and $0.00001875. On the downside, support levels are at $0.00001776 and $0.00001765, with a critical support level at $0.00001704. The price movements between these levels will be crucial in determining SHIB's short-term direction.

Potential Trade Strategies: For traders considering long positions, entering above the $0.00001810 resistance level could be promising, targeting the next resistance levels at $0.00001818 and $0.00001875. Conversely, short positions might be considered if the Shiba Inu price fails to hold the $0.00001765 support level, aiming for the lower support at $0.00001704. Given the current mixed signals from technical indicators, traders should use tight stop-loss strategies to mitigate potential losses. Monitoring the EMA and MACD indicators will be essential to gauge the next significant move.

ICYMI:

• Hamster Kombat Players Targeted by Scammers

• Mark Cuban Calls Silicon Valley’s Trump Endorsement a ‘Bitcoin Play’ Amid Biden’s Campaign to Block Elon Musk’s Election Influence

• WazirX Hacker Converts $150 Million in Altcoins to ETH Following $235 Million Exploit

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