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13 12, 2024

Natural Gas Price Forecast: Eyes 3.64 Peak After Symmetrical Triangle Breakout

By |2024-12-13T03:38:25+02:00December 13, 2024|Forex News, News|0 Comments


Breakout Above 3.56 is Bullish

Nonetheless, a decisive advance above 3.56 triggers a continuation of the bull trend. And a new portion of the trend has likely recently begun, following the upside breakout of a symmetrical triangle pattern on November 20. The recent retracement found support around the 61.8% Fibonacci support level and the pattern breakout level of 3.02, which eventually lead to an improvement in upward momentum as seen the past couple of days.

Moreover, a weekly bullish reversal triggered this week on a rally above last week’s high of 3.28, and the week should end above the high, thereby confirming the reversal. This is classic bullish behavior given the subsequent rebound from the 2.98 swing low.

First 3.64, then 4.06?

A decisive rally above the 3.56 high puts natural gas on track to target the 2023 high of 3.64, and likely continue to rise from there. The high is the top of the triangle pattern and a rally above the top of the pattern would provide another piece of bullish evidence if triggered. There are several higher targets thereafter as marked on the chart. The more significant and higher price target is up around a price range from 4.39 to 4.56. That range begins with prior monthly support and ends with a 50% retracement level.

Higher Targets

On the way towards 4.39, if natural gas continues to strengthen, the first area to watch for resistance above the 3.64 peak is 4.06. That is where a rising ABCD pattern (purple) hits its 161.8% extended target. However, that will likely be a minor level heading towards a price zone around a 38.2% Fibonacci retracement at 3.85. Close by is the 127.2% extension of a large rising ABCD pattern (orange) at 3.87. Watch the price levels together as a range.

For a look at all of today’s economic events, check out our economic calendar.



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13 12, 2024

What you need to know to stay safe

By |2024-12-13T02:15:18+02:00December 13, 2024|Dietary Supplements News, News|0 Comments


Does your performance supplement contain a side of the main ingredient in Viagra? According to the FDA, it might. 

Recent alerts from the Food and Drug Administration have warned that supplements widely marketed to men are testing positive for prescription drugs that could have dangerous side effects. The products are often promoted as “all natural.” Some claim to improve strength and energy, while others are promoted to help sexual performance or virility. Many claim to do both. 

Through testing, the FDA detected undeclared ingredients such as sildenafil and tadalafil, the active compounds in the erectile dysfunction prescription medications Viagra or Cialis, in ZoomMax, ZapMax, PeakMax and Vitafer-L Gold. Other drugs that have been found include diclofenac, a pharmaceutical anti-inflammatory that is similar to ibuprofen, and even medications for diabetes. 

The companies didn’t immediately respond to requests for comment. 

Dr. Jesse Mills, a urologist and the director of the men’s clinic at UCLA Health, calls the dietary supplements “truck stop Viagra” and worries that people who get relief from erectile dysfunction with supplements may also be missing opportunities to catch early heart disease. 

“Erectile dysfunction in a lot of men is a sentinel event that would suggest they have an increased risk of coronary artery disease,” he said. “So if you go and you’re buying a supplement that actually has a pharmaceutical in it that takes care of your ED, you may have missed an opportunity to treat your heart diseases before you drop dead of a heart attack.” 

People taking nitrate medications for heart disease should also be careful, as blood pressure can drop dangerously when they are combined with sildenafil or tadalafil. 

Dr. Pieter Cohen, an associate professor at Harvard Medical School who studies the regulation of supplements, described the proliferation of performance supplements as a “hot mess.” 

Because the FDA doesn’t approve dietary supplements to be sold and marketed in the U.S., it doesn’t regularly test and validate manufacturers’ claims about what’s in them. 

“The company doesn’t have to inform the FDA before they introduce a product,” he said. “There’s no FDA approval process for any supplements, and companies can just introduce whatever they want to.”

The products frequently include words like “Max,” “Miracle” or “Macho” in their names, and they can be easily bought online or in some stores without prescriptions. It’s unclear what’s in them — sometimes packaging lists a variety of vitamins, as well as other ingredients.

“You don’t know what is in the supplement unless they start harming people or unless people report side effects and then we start investigating,” said Mahtab Jafari, a professor of pharmaceutical sciences at the University of California Irvine. 

The number of supplements has soared over the last decade, especially online. The FDA has issued scores of alerts about hidden ingredients in performance products. 

It can send warning letters to supplement makers, but it’s up to the companies to issue recalls. Cohen pointed to a 2018 published study he co-authored that found supplement makers recalled their products only about half the time after having received notice from the FDA, leaving many adulterated supplements on the market. 

Promise of ‘good effects’ without side effects

In his practice, Mills sees men of all ages using supplements for improved energy, performance and sex drive. Patients often have a misconception that because they’re taking supplements and not pharmaceutical drugs, it’s safe, he said.

“There’s still a huge distrust of the pharmaceutical industry in this country,” he said. “So many men believe that if you’re taking a supplement it’s all natural and it has all the good effects and none of the side effects.” 

Some men may be embarrassed to talk to their doctors about libido or other personal issues. 

Many people turn to supplements because they don’t have health insurance, said Cohen, who works as a primary care physician.

Patients often hear about the benefits of supplements online through online marketing or male influencers in fitness and health who regularly promote supplements to build muscle, grow hair and enhance libido. 

On TikTok Shop, sellers tout their positive experiences with certain supplements, earning commissions from purchases.

“I have guys that will bring in a moving box full of 15 to 30 supplements a day and want me to review them with them,” Mills said.  

Duffy MacKay, senior vice president for scientific and regulatory affairs at the supplement industry’s Council for Responsible Nutrition, said the way consumers get the products has changed in recent years. 

“At one point, these types of products were really limited to the dark shadows,” he said.  

The proliferation of websites selling supplements has made it difficult for regulators to keep pace, he added. 

Men in their 40s who have erection problems run an 80% risk of developing heart problems within 10 years, according to Johns Hopkins Medicine.

Mills isn’t opposed to all supplements, and he said there are a few that he sometimes recommends for his male patients, such as citrulline, an amino acid that helps improve blood flow and can be beneficial for workouts.

He talks with his patients about the supplements they take as a way to build trust. 

“Just saying this is stupid and you’re spending $300 a month on these things that do nothing is a quick way to tune a patient out,” Mills said. 

What to look for

It’s important to be wary of any product that makes over-the-top claims, Cohen said. 

Mills said that while there are supplements that have shown some promise in treating erectile dysfunction, such as L-arginine, they are often studied at much higher doses than in over-the-counter products. 

Cohen said: “If it’s working, we’re concerned that there’s an active pharmaceutical drug that’s not listed on the label, it might cause unknown adverse facts to our health. In this category of sexual enhancement supplements, I recommend that my patients not use them.” 

Mackey said companies promote herbal ingredients that consumers believe help with vitality and virility, and “then they add the pharmaceutical so that the consumer has whatever sensation or experience that the drug might give them.” 

Jafari said people should check whether a supplement has been evaluated by a third party, such as the U.S. Pharmacopia, published by a nonprofit organization that tests over-the-counter supplements for hidden ingredients and whether they contain what’s on the label. Products will often include stamps on their labels if they have been tested, she said. 

Ultimately, the most important thing to do is find a doctor you trust and can work with to go over any products on the market. 

“Patients would bring bags of dietary supplements and I would sit down and review them with them,” Jafari said. “At the end of each consultation, we send them home with maybe two, not 20, because they didn’t need them.”



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13 12, 2024

Dogecoin Price Prediction: DOGE Price Aim For $1.2 Triggers FOMO For WallitIQ (WLTQ) Amid Expected 36,000% Surge In 18 Days

By |2024-12-13T02:11:54+02:00December 13, 2024|Crypto News, News|0 Comments

The Dogecoin price aims for $1.2, but the spotlight quickly shifts to WallitIQ (WLTQ), which is gearing up for a 36,000% surge in 18 days, triggering FOMO among investors. The WallitIQ (WLTQ) presale is positioned as a high-potential investment and has sold millions of tokens, raising over $2.38 million while climbing rapidly. Those who secure tokens now stand to benefit from 36,000% potential gains in 18 days as WallitIQ (WLTQ) positions itself as the next big crypto contender.

FOMO Builds As WallitIQ’s (WLTQ) Presale Moves Toward Sellout With The Potential For A 36,000% Surge In 18 Days

As the Dogecoin price aims for $1.2, a wave of FOMO is moving through the crypto market, as WallitIQ (WLTQ) presale nears sellout with plans to surge 36,000% in 18 days. At $0.0243, the WallitIQ (WLTQ) presale price offers early investors an opportunity to buy WLTQ tokens for cheap before they skyrocket. Millions of tokens have already been sold, raising over $2.38 million, while demand continues to rise. The WallitIQ (WLTQ) presale is closing fast, leaving limited slots for those looking to secure WLTQ at its lowest possible price.

Investors who buy now could see gains of 36,000% in just 18 days. As FOMO intensifies, savvy investors rush to take advantage of the WLTQ presale before the next stage kicks in, pushing the price to new levels. WallitIQ’s (WLTQ) wallet offers additional benefits, including governance rights, tax-free token purchases, and liquidity options. 

Unlike competitors, WallitIQ (WLTQ) offers AI and Machine Learning to simplify crypto trading and management for beginners and experienced investors. Fast transactions are made simple with Scan and QR payment options, while top-notch security features, including biometric authentication and fraud detection, guarantee a safe trading space. 

Crypto whales have already noticed, drawn by FOMO, the impressive wallet features and unmatched smart contract audited by SolidProof. FOMO is driving demand as investors realize the opportunity to secure WallitIQ (WLTQ) tokens is closing fast. With only a few presale slots left, the time to act is now: buy WallitIQ (WLTQ) tokens today and prepare for a 36,000% surge. Don’t miss out on this chance to join the WLTQ rally before it’s too late.

Dogecoin Price Struggles To Reach $1.2 As Recent Volatility Clouds Its Path

As the Dogecoin price targets $1.2, the FOMO surrounding its competitor, WallitIQ (WLTQ), is intensifying, especially with the presale promising a staggering 36,000% surge in 18 days. While the Dogecoin price predictions still grab attention, recent trends indicate it could take longer than expected to hit that $1.2 mark. The Dogecoin price has fluctuated, and analysts are warning of a potential downturn in its chart.

The Dogecoin price reached an impressive 78,273% increase at its all-time high, pushing the price to $0.5, with yearly gains showing a 343% rise to $0.4. However, after recent volatility, the Dogecoin price has dropped to around $0.4, making the $1.2 target appear increasingly unlikely in the short term. 

Why Investors Are Jumping On WallitIQ (WLTQ) For A Shot At A Possible 36,000% Surge In 18 Days

With the presale gaining momentum, WallitIQ (WLTQ) has even been listed on CoinMarketCap, further validating its potential. WallitIQ (WLTQ) presale is priced at $0.0243, and individuals who buy it today stand to gain a projected 36,000% in portfolios in 18 days. This combination of real utility and high-profit potential makes WallitIQ (WLTQ) the ultimate choice for modern inventors. 

WallitIQ (WLTQ) wallet aims to transform crypto management with features like yield farming, 180% APY, automated transactions, and its standout Physical-to-Digital (P2D) tool, which converts physical assets into digital ones. For investors seeking simplicity, security, and a wallet designed to handle assets of any size, WallitIQ (WLTQ) offers all that.

WallitIQ (WLTQ) is poised for a 36,000% rally, making it one of the best crypto presale tokens to buy before December ends. As the presale nears its current stage end and is set to increase with FOMO among investors, $0.0243 is a limited-time opportunity for investors. Don’t miss this opportunity to enjoy a possible 36,000% surge in 18 days.

Join the WallitIQ (WLTQ) presale and community: 

Join WallitIQ (WLTQ) Presale
Join the WallitIQ (WLTQ) Community

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13 12, 2024

XAU/USD could extend its corrective slide

By |2024-12-13T01:36:59+02:00December 13, 2024|Forex News, News|0 Comments


XAU/USD Current price: $2,681.86

  • Dismal United States data fueled speculation the Federal Reserve will trim rates in 2025.
  • The European Central Bank cut benchmark rates by 25 bps each, as expected.
  • XAU/USD turned bearish in the near term after breaking below $2,700.

Spot Gold came under selling pressure on Thursday, trading around $2,680 a troy ounce. The US Dollar (USD) gathered momentum early in the American session following the release of dismal United States (US) data.

The country reported that  Initial Jobless Claims for the week ended December 6 increased to 242K, worse than the 220K expected and above the previous 225K. Additionally, the November Producer Price Index (PPI) came in higher than anticipated, rising 3.4% on a yearly basis against the expected 3.2% and the previous 3.1%. The news pushed speculative interest into further betting on Federal Reserve (Fed) interest rate cuts through 2025.

Wall Street started the day with modest optimism but finally gave up. The three major indexes trade in the red, reflecting the poor sentiment. For a change, however, the USD has gathered more attention than gold as a safe haven.

Market players are now heading into a more quiet day, as the macroeconomic calendar has nothing relevant to offer on Friday. However, the Bank of Japan (BoJ), the Federal Reserve (Fed) and the Bank of England (BoE) will announce their decisions on monetary policy next week. Most rate decisions are widely anticipated, with the focus on what 2025 may bring to monetary policy.

XAU/USD short-term technical outlook

Technically, the XAU/USD pair is at risk of extending its slide, albeit far from bearish. The daily chart shows that the pair keeps developing above all its moving averages, with the 20 Simple Moving Average (SMA) maintaining its upward slope below the current level and above also bullish 100 and 200 SMAs. However, technical indicators have turned south, with the Momentum heading firmly south below its 100 level and the RSI also pointing lower, albeit at around 54.

In the near term, and according to the 4-hour chart, XAU/USD is currently developing below its 20 SMA, which anyway remains above directionless longer ones. The corrective decline could continue, given that technical indicators head firmly lower, although considering the Momentum indicator remains above its 100 line.

Support levels: 2,676.30 2,662.50 2,650.40  

Resistance levels: 2,693.70 2,704.35 2,722.60



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13 12, 2024

EUR/USD, GBP/USD Forecast: Two trades to watch

By |2024-12-13T00:15:06+02:00December 13, 2024|Forex News, News|0 Comments

EUR/USD looks to the ECB rate decision

  • ECB is likely to cut rates by 25 bps
  • The focus will be on rhetoric and staff projections
  • US PPI & jobless claims are due
  • EUR/USD trades between 1.05 – 1.06

EUR/USD steadies above 1.05 after 4-days of losses, amid USD weakness and ahead of the ECB rate decision.

We expect the ECB to cut rates by 25 basis points, bringing them to 3%; however, a 50-basis-point cut cannot entirely be excluded. In fact, the market would likely focus more on communication. The updated staff forecast could see the inflation target being reached sooner next year, which could enable the ECB to cut rates by 25 basis points but with a more dovish tone.

Recent data, including the composite PMI at a 10-month low and political uncertainty in Germany and France affecting economic sentiment, also give the ECB reason to adopt a more dovish stance.

The market is pricing in 150 basis points worth of cuts between now and the end of next year. A dovish-sounding Christine Lagarde could fuel rate-cut bets, pulling EUR lower.

The USD is easing but continues to trade in a narrow range, following US CPI data yesterday, which supports the view the Fed will cut rates next week and ahead of PPI data today.

PPI is expected to rise to 2.6%, YoY up from 2.4%. This comes after CPI rose to 2.7% from 2.6%.

Signs that disinflation is stalling underpin the USD. While a December rate cut looks certain, a more gradual pace of cuts is likely next year. 

EUR/USD forecast – technical analyst

EUR/USD fell from 1.12 in late September to a low of 1.0330 on November 2025. The price is currently consolidating between 1.05 to 1.06 and is once again testing the lower band of this holding pattern.

Sellers must take out 1.05 to extend the longer-term bearish trend towards 1.04 and 1.0330.

However, should 1.05 hold, buyers will look to extend the gain to 1.06. Beyond here, 1.07 comes into play.

eur/usd forecast chart

 

GBP/USD stays in range ahead of US PPI data & jobless claims

  • US CPI rose to 2.7% YoY from 2.6%
  • US PPI is expected to rise to 3.2% from 3.1%
  • GBP/USD hovers around 1.2750, just below the 200 SMA

GBP/USD continues to trade in a tight range around the 1.2750 level following US CPI data and ahead of more US stats. The UK economic calendar is quiet, leaving the USD in the driving seat.

US CPI rose to 2.2%, up from 2.6%, in line with expectations, while core CPI held steady at 3.3%. Despite the increase in inflation, the data was in line with forecasts, giving the green light to a December rate cut.

According to the CME Fed watch tool, the market is pricing in a 95% chance of a 25 basis point cut at the FOMC meeting next week, up from 85% ahead of the meeting.

Today, attention is on US PPI inflation, which is expected to rise. PPI is forecast to rise to 3.2%, up from the 3.1% previously.

US jobless claims data will also be under the spotlight. It is expected to show the ongoing resilience in the US labour market, with 220K initial claims forecast down from 224 K.

The pound has been supported by expectations that the Bank of England will cut interest rates at a slower pace than its major central bank peers. The BoE is expected to leave rates unchanged in the meeting next week, and the market is only pricing in 60 basis points worth of cuts between now and the end of next year.

The central bank has adopted a more hawkish tone following the New Labour government’s budget, which is seen as inflationary.

There is no high impact UK economic data today. Attention will be on GDP figures tomorrow.

GBP/USD forecast – technical analyst

GBP/USD extended its recovery from 1.25 rising out of the multi-month descending channel, but the recovery has stopped short below the 200 SMA.

Buyers will look to extend the recovery above the 200 SMA1.2825 towards 1.2875 static resistance and 50 SMA. A rise above her brings 1.29 and then the key 1.30 level into play.

Failure to retake the 200 SMA could see sellers retest the 1.27, the weekly low ahead of 1.2630 the December low and 1.26. A breakdown here brings 1.25 into focus.

gbp/usd forecast chart

 

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13 12, 2024

Exploring the Global Journey of Tea- Its History, Varieties, and Cultural Significance

By |2024-12-13T00:13:25+02:00December 13, 2024|Dietary Supplements News, News|0 Comments









Representational image of tea (Photo Source: Pexels)





Tea, scientifically known as Camellia sinensis, is the foundation of all true teas, with its rich history and cultural significance transcending borders. From the serene plantations of China and Japan to the tropical fields of Assam in India, tea has been a symbol of connection, tradition, and well-being. Every year, on December 15, International Tea Day is celebrated to honor the global importance of this beloved beverage.

This day not only highlights tea’s cultural legacy but also emphasizes its role in combating hunger and poverty, promoting sustainable production, fair trade practices, and improving the livelihoods of tea workers worldwide.












Varieties of Tea

Many types of teas come from the same plant. Each has been processed to produce a particular flavor:

  • The world of tea unfolds into rich flavors and traditions, all originating from the Camellia sinensis plant. Among its many varieties, Black Tea stands out for its bold flavor and deep amber hue, achieved through full oxidation. The most well-known are Assam and Darjeeling, enjoyed worldwide with milk and sweeteners. Green tea halted from oxidation through steaming or pan-firing, has a light vegetal taste with bright green color associated with Chinese and Japanese culture.

  • The least processed of all teas, it captures the light and delicacy of very young buds and leaves. In a nutty way with its crisp and sweet finish, it attracts connoisseur attention. Oolong tea is characterized by partial oxidation. The effect of its flavors gives the perfect balance between that of black tea and green tea, rich, and smooth. It also impresses during several infusions. Often Taiwanese and Chinese people fall for it.

  • Unique pu-erh tea, aged and fermented, holds rich, earthy flavors that deepen with time. It is said to be from China’s Yunnan province, revered for its digestive benefits and bold character. Purple tea, relatively new to the family, has become popular for its anthocyanin pigments. This antioxidant-rich tea grows mainly in Kenya and has a mild fruity flavor, and a low caffeine profile, making it both nutritious and refreshing.

Every type of tea has its own story, flavor profile, and health benefit, making the sensory experience cross cultures and boundaries.












Cultural Significance of Tea Across Borders

Tea ceremonies around the world represent distinct customs and values.

  • Gongfu Cha and other tea ceremonies are symbolic of spirituality and mindfulness in China. Matcha ceremonies in Japan place a strong emphasis on accuracy and simplicity, promoting tea to the level of art. In India, Tea is not just considered as beverage it’s a sign of expression of emotion and hospitality.

  • Morocco is known for its sweet mint tea, which is being drunk in tall cups as a sign of welcome and friendliness. In Britain, which is known for its Afternoon tea, black tea is served with clotted cream and scones. Kenya, a pioneer in the production of black and purple tea, meantime, highlights the economic and agricultural importance of tea.

Health Benefits of Tea

Tea is so much more than just a great taste. It is also a treasure cup of health benefits. Green and white teas are rich in antioxidants, which fight free radicals to maintain cellular health. Black tea helps with heart health by improving cholesterol levels. Oolong supports digestion. Pu-erh tea helps with gut health, and matcha boosts focus due to its special combination of caffeine and L-theanine.

Which Tea to Choose?

The best tea for you depends on your preferences and health goals:

  • Choosing the right tea is, in a way, an art that goes along with one’s preferences and health motives. Black tea is the classic pick-me-up: very energetic, rich, and bold. Green tea is wonderful for detoxing and rejuvenating the body colorful and fresh, with a sweet, vegetal profile. White tea is delicate and has very low caffeine, a great option for those preferring it not too strong, and less processed.

  • Oolong offers a layered, complex taste, so for every sip, it’s perfect for digestion and relaxation. A fermented tea from China, pu-erh delivers earthy, rich flavors that support gut health and well-being. And because of such diversity, there’s a tea for every moment and mood.

A Universal Connection

Tea has brought people together across countries, from its modest origins in the Southeast Asian highlands to its current location in busy metropolitan cafes. The cultural diversity of its origins its adaptability and global success are reflected in its many variants. Tea remains a symbol of wellness, culture, and connection, whether it is drank on a wet British day, shared in a Japanese tea house, or consumed as hot chai in India.












This beverage is more than a drink; it is a festival of diversity, health, and global culture. From the Tea plant to the cups of millions, tea’s journey is one of unity and transformation. It is not only about the flavor; it’s about the stories, traditions, and connections brewed into every sip. Tea remains a timeless symbol of hospitality, mindfulness, and shared humanity.











First published on: 12 Dec 2024, 17:32 IST




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13 12, 2024

Why ADA Price Is Surging?

By |2024-12-13T00:10:50+02:00December 13, 2024|Crypto News, News|0 Comments

Amid the ongoing market volatility, the crypto space has experienced a strong bullish recovery over the past few hours. Following this, the ADA price regained momentum and recorded a double-digit price surge in its respective portfolio.

Will Cardano price maintain its bullish price sentiment and achieve a new 52-week during the upcoming days? In this article, we at CoinPedia have covered the short-term market sentiment, price analysis, and the possible targets of the 09th largest cryptocurrency in the world.

Cardano Price Successfully Retests Its Important Support Level!

The ADA price has added 7.26% to its portfolio in 24 hours with a trading volume of $2.279 billion, a change of -10.89%. Despite recording a correction of 5.61% over the last seven days, this altcoin has surged over 100% in 30 days.

ada price analysis 12-12-2024

The Relative Strength Index (RSI) has successfully retested its neutral point and has recorded a sharp rise toward the overbought range in the daily time frame. Furthermore, the average trendline trades around the upper limit, highlighting a strong bullish price action.

On the other hand, the Moving Average Convergence Divergence (MACD) shows a rising red histogram in the Cardano price chart. With its averages recording a significant downtrend, this altcoin hints at a mixed-price sentiment this week.

Will ADA Price Hit $1.6 This December?

If the market favors the bulls, the Cardano token will retest its resistance level of $1.20. Further, if the bullish sentiment sustains, this altcoin could head toward its upper price target of $1.40 by the year-end.

Conversely, if the bears outrun the bulls, the ADA token could retest its $1 mark. Further, if the bearish sentiment intensifies, this could pull the price of this altcoin toward its lower support level of $0.800.

To find out answers to questions like “Will Cardano reach $3?” Read our Cardano Price Prediction. Also, subscribe to CoinPedia to stay connected with the world of cryptocurrency.

FAQs

How high will Cardano hit?

Considering the present market sentiments, the ADA price could conclude the year 2024 with a bullish price tag of $1.42.

How much will 1 ADA be worth in 2030?

With increased adoption in the cross-border financial system, the Cardano token could hit $10.32 by 2030.

How much will 1 Cardano be worth in 2025?

With increased bullish price action, the ADA coin price may surpass the $2.5 mark in 2025.

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12 12, 2024

Crypto NFT Today: December Week 2

By |2024-12-12T23:56:42+02:00December 12, 2024|News, NFT News|0 Comments


Welcome to another edition of Crypto NFT Today! The past two weeks have been full of must-know events that will define the future of blockchain, cryptocurrency, and NFTs.

With President-Elect Donald Trump’s crypto venture partnering with a new platform, the crypto markets increasing more than predicted this week, and more, there’s lots of essential news you should know about. So, let’s dive in and see what’s happening! 

President-Elect Trump Crypto Venture Partners With New Platform

A recently unveiled cryptocurrency venture involving U.S. President-elect Donald Trump and billionaire Steve Witkoff, appointed as his new Middle East envoy, has partnered with a controversial crypto platform allegedly used by criminals and Iran-backed militant groups such as Hamas and Hezbollah, according to authorities and financial experts.

World Liberty Financial Inc., established by the Witkoff family just two months before the November U.S. election and with Trump as a financial beneficiary, has raised significant ethical and conflict-of-interest concerns among six U.S. government ethics specialists. Their primary concern is the firm’s partnership with the Tron crypto platform.

Crypto Markets Increase This Week

The cryptocurrency market saw a surge on Wednesday, rebounding after two days of consolidation following Bitcoin’s historic rally to $100,000 last week.

Bitcoin’s price climbed 5%, reaching $101,413.74, according to Coin Metrics. Ether also gained 5%, though it has yet to break past its key resistance level of $4,000. The broader cryptocurrency market, as measured by the CoinDesk 20 index, rose more than 6%. Crypto-related stocks also advanced, with Coinbase rising 3% and MicroStrategy surging 9%. Despite the gains, most major players except MicroStrategy remain down for the week.

Dogecoin Network Exploited by Hackers

Dogecoin, one of the most popular meme cryptocurrencies, faced a major disruption on December 12 when a hacker exploited a vulnerability, causing 69% of its network nodes to crash.

The attack was carried out by Andreas Kohl, co-founder of the Bitcoin sidechain Sequentia, using a basic laptop from rural El Salvador. Kohl exploited a vulnerability previously identified by researcher Tobias Ruck, exposing critical weaknesses in Dogecoin’s network infrastructure.

Prior to the attack, Dogecoin’s network had 647 active nodes, according to data from Blockchair. The exploit caused the number of operational nodes to drop sharply to just 205. While the network has since partially recovered to 315 nodes, it remains significantly weakened, highlighting concerns about the resilience of cryptocurrency ecosystems.

Compound Finance Program to Raise Security

Compound Finance, a prominent decentralized finance (DeFi) protocol, has introduced a $1 million bug bounty program in partnership with blockchain security platform Immunefi.

Announced on Dec. 12, the initiative aims to enhance the protocol’s security and build trust within its ecosystem by encouraging researchers to identify and report potential vulnerabilities.

The program offers tiered rewards based on the severity of identified issues, ranging from $1,000 for low-risk vulnerabilities to $1 million for critical exploits. All bounties will be paid in COMP, Compound’s native token, reflecting the protocol’s commitment to safeguarding its platform and users.





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12 12, 2024

XAG/USD retreats to near $31.70 after China’s economic conference outcome

By |2024-12-12T23:36:06+02:00December 12, 2024|Forex News, News|0 Comments


  • Silver price falls back to near $31.50 after posting a fresh two-week high around $32.20.
  • Chinese officials proposed to increase the issuance of bonds to boost infrastructure investment.
  • The US producer inflation grew at a faster-than-expected pace in November.

Silver price (XAG/USD) gives up its entire gains and declines to near $31.50 in the North American session on Thursday. The white metal declines after posting a fresh two-week high around $32.20. The asset faces pressure after the conclusion of China’s two-day economic work conference. a high-level meeting that sets economic priorities for next year.

Top leaders of China didn’t provide specific details on the likely size of the stimulus package and the pace of monetary policy easing. However, officials said that they will increase the issuance of ultra-long special treasury bonds and local government special notes next year, which are important sources for infrastructure investment and other public spending, Bloomberg reported.

Investors await more details on the stimulus package to forecast the demand for Silver, given its application in various industries such as solar panels and mining, etc.

Meanwhile, hotter-than-expected United States (US) Producer Price Index (PPI) data for November has also weighed on the Silver price. As measured by the PPI, annual headline and core producer inflation accelerated to 3% and 3.4%, respectively. The impact of the hit US PPI data appears to be negligible on Federal Reserve (Fed) interest rate projections for the policy meeting on December 18 but could boost expectations that the central bank will pause the policy-easing spell in January.

After the US PPI data release, the US Dollar Index (DXY) recovered intraday losses and rises to near 106.80 and weighed on the Silver price.

Silver technical analysis

Silver price retreats after failing to revisit the horizontal resistance plotted from the May 21 high of $32.50. The near-term appeal of the Silver price remains firm until it stays above the 20-day Exponential Moving Average (EMA), which trades around $31.25.

The 14-day Relative Strength Index (RSI) approaches 60.00. A bullish momentum would trigger a decisive break above the same.

Looking down, the upward-sloping trendline is around $29.50, which is plotted from the February 29 low of $22.30 on a daily timeframe

Silver daily chart

Silver FAQs

Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

 



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12 12, 2024

GBP/USD Analysis Today – 12/12: Eyes Key Resistance (Chart)

By |2024-12-12T22:14:11+02:00December 12, 2024|Forex News, News|0 Comments

  • Since the start of this important trading week, the Pound Sterling has managed to gain against other major currencies, even in the absence of any significant impactful British data.
  • Furthermore, its gains came thanks to positive trading conditions.
  • In the case of the GBP/USD pair, it rose to the resistance level of 1.2798 before settling around 1.2738 at the time of writing this analysis.

As a currency that has become more sensitive to risk, the Pound Sterling benefited from the optimistic market sentiment at the beginning of the week. However, with little other support, the Pound Sterling’s gains were relatively modest, with the Pound Sterling primarily rising against safer currencies rather than its riskier counterparts.

Dollar Price Affected by US Inflation Figures

According to licensed trading platforms, the US dollar has retreated from its previous highs after US inflation rates came in line with expectations. According to economic data results, the US Consumer Price Index rose to 2.7% in November, as expected, but this was higher than 2.6% in October, marking the fifth consecutive increase.

It was also announced that the US Consumer Price Index rose by 0.3% on a monthly basis, which is also in line with expectations. The core Consumer Price Index recorded 0.31% in November, with the 12-month rate remaining at 3.3%, which is in line with analysts’ forecasts. Overall, the main conclusions are that US inflation is proving to be stubborn, which will limit the pace of the Federal Reserve’s interest rate cuts in 2025. However, the Federal Reserve is likely to cut interest rates again next week as the numbers were in line with expectations.

Pound Sterling Supported by China’s Policies

China’s stimulus measures this week have supported risk appetite and expectations of further cuts in Chinese interest rates. There were reports that the Politburo had changed its 2025 forecast for China’s monetary policy from cautious to appropriately loose. This would be the first official change in language since 2010. As a result, hopes for political stimulus have supported commodities and British stocks, which in turn helped support the Pound Sterling. However, there are still significant geopolitical pressures and uncertainties.

US Interest Rate Expectations

After financial markets and investors reacted to the US jobs and inflation announcements, financial markets are expecting another US interest rate cut by the Federal Reserve next week, with markets pricing in a near 90% chance of a 25bp cut. The US Federal Reserve will generally enter a blackout period this week, but there will be increased focus on the 2025 outlook. President-elect Trump has recently indicated that he will not ask Fed Chairman Powell to resign, although there is an element of ambiguity as he has stated that Powell may resign if asked. As such, uncertainty may limit the scope for buying the US dollar.

Trading Tips:

It seems clear that the performance of the British pound is waiting for more stimulus so that it does not get sold and lose its recent gains, as the sterling is a risk currency

Technical Analysis for the GBP/USD pair today:

According to the performance on the daily chart, the GBP/USD pair remains in a neutral position with an upward bias. The bulls’ success in moving towards the resistance levels of 1.2840 and the psychological resistance of 1.3000 will strengthen the upward trend. Conversely, and on the same time frame, a return to the vicinity of the 1.2610 support will undermine the current upward outlook. The Relative Strength Index is in a neutral position, confirming the balance between bears and bulls. Technically, the MACD is turning upwards but still needs more gains to confirm. Today, GBP/USD will be affected by the announcement of weekly US jobless claims and the reading of the Producer Price Index. Furthermore, this is in addition to the extent of investor risk appetite.

Ready to trade our Forex GBP/USD analysis and predictions? Here are the top UK forex trading platforms to choose from. 

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