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Breaking Crypto Stories

Here are the top stories today:

• Schumer Pledges Bipartisan Crypto Legislation by 2024 if Harris Wins Presidency

• Binance Resumes Operations in India After Seven-Month Ban with Regulatory Compliance

• Celebrity Memecoin Promoter Sahil Arora Accused of Earning $3M Through Fraudulent Token Launches

🗳️ Schumer Pledges Bipartisan Crypto Legislation by 2024 if Harris Wins Presidency

Senator Chuck Schumer announced his commitment to passing bipartisan pro-crypto legislation by the end of 2024, emphasizing the need for innovation and regulatory frameworks to keep the U.S. competitive in the crypto industry.

• Senator Chuck Schumer aims to pass pro-crypto legislation by the end of 2024, contingent on Kamala Harris being elected president.

• Schumer advocates for bipartisan cooperation in the Senate to foster innovation in crypto while providing necessary regulatory safeguards.

• The Crypto4Harris event highlighted Democratic support for the U.S. crypto industry, with various lawmakers expressing the need for balanced regulation and consumer protection.

🟢 Binance Resumes Operations in India After Seven-Month Ban with Regulatory Compliance

Binance has resumed operations in India after a seven-month ban by complying with local regulations, registering as a reporting entity with India's Financial Intelligence Unit.

• Binance's apps and website are back on India's Google Play Store and Apple App Store after a seven-month ban due to noncompliance with local regulations.

• The exchange registered with India's Financial Intelligence Unit (FIU-IND), meeting legal compliance requirements to combat money laundering.

• Binance's reentry into the Indian market is part of its broader global regulatory strategy, with India now among its top five markets by transaction volume.

📣 Celebrity Memecoin Promoter Sahil Arora Accused of Earning $3M Through Fraudulent Token Launches

Sahil Arora, a celebrity memecoin promoter, allegedly earned around $3 million this year by launching various celebrity-themed tokens, often involving fraudulent activities, according to blockchain sleuth ZachXBT.

• Sahil Arora reportedly made around $3 million from launching celebrity memecoins, contrary to earlier claims that he earned $30 million.

• Arora has been accused of social engineering scams, often launching tokens without celebrity consent and then dumping his holdings, leading to price crashes.

• Arora's official social media account was banned for violating platform policies, but he continues to be active through other accounts and platforms.

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.

Notcoin (NOT)

Where is Notcoin Price Headed? Expert Analysis and Predictions

Price Movements: NOT has been in a bearish trend, with recent price declines indicating potential continued downward momentum. However, technical indicators suggest that a reversal could be possible if the price finds support at key levels and the bearish momentum weakens.

Key Levels To Watch: The critical support levels are at 0.01119, 0.0109, and 0.01065, while resistance levels to monitor are at 0.01129, 0.01153, and 0.01222. A break above 0.01129 could signal the start of a bullish trend, while a breakdown below 0.01119 could lead to further declines.

Trade Strategies: For long trades, consider entering around the 0.01119 support level with targets at 0.01153 and 0.01222, using a stop-loss below 0.0109. For short trades, a potential entry could be below 0.01119, targeting 0.0109 and 0.01065, with a stop-loss just above 0.01129.

Binance Coin (BNB)

Binance Coin Price Outlook: Can BNB Hold Above Key Support?

Price Movements: BNB has shown signs of consolidation on the 4-hour chart, with the recent price closing at $520.2, reflecting a slight downward drift. Despite this, the price remains above key support levels, suggesting a potential bounce if buying momentum increases.

Key Levels To Watch: Immediate resistance is seen at $526.6, with further resistance at $527.8 and $529.8. On the downside, critical support levels are at $503.4, $501.7, and $488.5. These levels will be crucial in determining the next significant price movement.

Trade Strategies: For long trades, potential entry points could be near the $503.4 support, targeting the $526.6 resistance, with stops below $501.7. For short trades, consider entering if the price struggles to break above $526.6, targeting $503.4 or $488.5, with stops above recent resistance.

Ethena (ENA)

Ethena Price Analysis: Key Levels and Trends to Watch Today

Price Movements: ENA has been consolidating around the $0.318-$0.317 range, showing signs of potential reversal. The narrowing gap between the 9 EMA and 20 EMA, along with weakening MACD, suggests that bullish momentum may be fading. The RSI hovering around 50 indicates a lack of strong directional momentum, leaving the market at a critical juncture.

Key Levels to Watch: Immediate resistance lies at $0.325, with further resistance at $0.335 and $0.342. On the downside, $0.305 is a crucial support level, with deeper support at $0.294 and $0.261. A break above $0.325 could signal a bullish continuation, while a breach below $0.305 might indicate further bearish movement.

Trade Strategies: Long positions might be considered near the $0.305 support level, targeting exits around $0.325 and $0.335. Short positions could be explored if the price falls below $0.305, aiming for targets at $0.294 or $0.261. Traders should place stop losses strategically, above resistance levels for shorts or below support for longs, to manage risk effectively.

ICYMI:

• BitGo CEO Dismisses Concerns Over Justin Sun’s Involvement in Wrapped Bitcoin

• How to Launch a Crypto Company: A Step-by-Step Guide to Success

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