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1 11, 2024

Natural Gas Price Forecast: Eyes Lower Retracements After 38.2% Fibonacci Test

By |2024-11-01T23:51:48+02:00November 1, 2024|Forex News, News|0 Comments


Bearish Continuation Below 2.63

A decisive decline below today’s low will trigger a continuation of the bearish retracement. Subsequently, there are two primary potential support zones to watch. The first is from 2.58 to 2.54, and the second starts at the 61.8% Fibonacci retracement level at 2.48 and goes down to the orange 50-Day MA at 2.46. The first price zone starts with a prior interim swing high, includes the 50% retracement at 2.56, and completes with the purple 20-Day MA.

Another Test of Support at 50-Day MA May Occur

A recent test of support at the 50-Day line failed, and the price of natural gas fell below the line before rebounding back above it. Therefore, the current decline has the potential to successfully test support around the 50-Day MA and lead to a bullish reversal. One reason for this is indicated on the weekly chart (not shown), as a bullish reversal triggered this week.

Although the moving averages help provide some guide to price action, natural gas continues to trade inside consolidation that takes the form of a large symmetrical triangle pattern. Therefore, indications from the moving averages are generally not as reliable or significant as seen in a trending environment. Nonetheless, keeping that in mind they can still provide useful information as they have done recently with support at the 200-Day MA and the 50-Day crossing above the 200-Day.

Internal Uptrend to Provide Insights

Behavior around the internal uptrend line that connects the most recent swing low may also provide some insight. If it fails to hold as support, the 200-Day MA becomes a target, which is now at 2.23. Subsequently, if the 200-Day MA fails, the trendline becomes a target. If the trendline is broken to the downside, the potential bullish outlook diminishes.

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



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1 11, 2024

Flavor-Driven Athletic Supplements : Optimum Nutrition products

By |2024-11-01T22:25:22+02:00November 1, 2024|Dietary Supplements News, News|0 Comments


These new Optimum Nutrition products are being added to the Glanbia Performance Nutrition-owned brand’s lineup of solutions for athletes that put premium taste experiences in the spotlight. The new products include the Gold Standard 100% Whey Protein Powder in Girl Scout Thin Mints and Caramel Macchiato flavors, which are each perfect for dessert fans alike. The brand is also introducing its Gold Standard Protein Shake in Strawberry, the Amin.O. Energy in Rainbow Sherbet and Peach Mango Tango and its Micronized Creatine Powder in Blueberry Lemonade.

Brand Director Jen Werle spoke on the new Optimum Nutrition products saying, “As the world’s most trusted sports nutrition brand, we continue to innovate our portfolio with trend-forward flavor offerings to further excite the category, elevate industry standards, and appeal to consumers’ taste preferences. Whether consumers seek pre- or post-workout support to muscle recovery, an easy way to hit their daily protein goals, or simply need a boost of energy, Optimum Nutrition has a solution.”



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1 11, 2024

Will XRP Price Hit $6 If Ripple Announces IPO?

By |2024-11-01T21:54:20+02:00November 1, 2024|Crypto News, News|0 Comments

XRP price has been trading in a narrow range recently, hinting at a period of consolidation for the altcoin. This period of price stability was interrupted by a rebound, aligning with a broader market uptick, suggesting a shift in momentum. Market analysts are increasingly optimistic about XRP’s trajectory, with some forecasting a notable price surge. Speculation is mounting that Ripple’s rumored IPO announcement could be a catalyst, potentially driving XRP closer to new highs.

XRP Price Prediction: Analyst Forecasts $6 Target For Ripple

Rumors of a Ripple Initial Public Offering (IPO) are circulating as Linqto, a private investment platform, promotes a chance for users to invest in Ripple pre-IPO. This follows Ripple CEO Brad Garlinghouse’s previous comments, suggesting an IPO in the U.S. isn’t immediate due to regulatory uncertainties. 

Linqto highlights XRP’s utility in cross-border payments, aligning with Ripple’s mission of streamlined global transactions. With recent progress in these legal matters, Linqto’s promotion fuels speculation, though Ripple has yet to confirm any official IPO plans.

​​XRP Price Prediction: Analyst Forecasts $6 Target For Ripple

Crypto analyst tweeted insights on XRP’s price movement, predicting potential support levels at $0.4850 and $0.4864. According to the analyst, the top altcoin will likely rebound from these levels, with the chance of rising to $0.66 if it holds above support for three days. However, should it fall below $0.4864, it could retest the $0.3917 level.

Crypto analysts added that XRP is following the 5 Elliott Wave structure, and breaking above the orange resistance would mark a critical bullish shift, suggesting a sustained uptrend with no reversal. The chart indicates XRP’s path within this wave pattern, highlighting critical resistance and support points.

Will XRP Price Hit  If Ripple Announces IPO?
Source- X

At the time of writing, the XRP price is $0.5203, up 1.92% in the past 24 hours. The Moving Average Convergence Divergence (MACD)  indicator shows a gradual shift. The indicator, which measures momentum changes, hovers near the zero line, signaling a potential reversal.

Will XRP Price Hit $6 If Ripple Announces IPO?Will XRP Price Hit $6 If Ripple Announces IPO?
XRP Price Chart: TradingView

With Ripple’s IPO speculation fueling optimism, XRP could be positioned for a significant rally if technical conditions align and regulatory approvals advance.

Frequently Asked Questions (FAQs)

Rumors of a Ripple IPO have been fueled by promotions from platforms like Linqto, offering pre-IPO investment opportunities, though Ripple has not confirmed any IPO plans.

An IPO announcement could drive XRP’s price higher due to increased investor interest, with some analysts setting a potential target of $6 if conditions align.

Analysts are eyeing a target of $6 for XRP, contingent on bullish technical patterns and momentum driven by Ripple’s rumored IPO.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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1 11, 2024

Natural Gas News: Price Forecast Dips as Inventory Levels Hit Seasonal Highs

By |2024-11-01T21:50:58+02:00November 1, 2024|Forex News, News|0 Comments


Mild Weather Cuts Heating Demand

Forecasts from both American and European models show warmer temperatures are likely to persist across the U.S., limiting heating degree days (HDDs) and reducing natural gas demand. NatGasWeather reported that the American model adjusted its forecast by 11 HDDs lower, which decreases the immediate need for heating-related gas. This shift points to mild conditions across much of the country, particularly in the eastern and southern regions, where temperatures are expected to hover between the 60s and 80s Fahrenheit, with isolated areas even reaching the 90s.

In contrast, cooler temperatures in parts of the western and central U.S. will bring highs in the 40s to 60s Fahrenheit, though this will not significantly offset the mild conditions prevailing elsewhere. The overall demand profile remains light, as warmer weather patterns weaken market sentiment for natural gas futures in the near term.

High Storage Levels Add Bearish Pressure

Natural gas storage remains robust, further pressuring prices. As of October 25, 2024, the U.S. Energy Information Administration (EIA) reported working gas in storage at 3,863 billion cubic feet (Bcf), an increase of 78 Bcf from the previous week. These levels are 107 Bcf higher than the same time last year and 178 Bcf above the five-year average. This storage surplus suggests that natural gas supplies are more than adequate to meet current and expected demand, which is particularly light due to the mild weather outlook.

Amid steady production levels, especially with wind energy contributing to electricity generation, natural gas demand for power remains subdued. This excess in supply, combined with steady injections into storage, limits the potential for a bullish reversal in the short term.

Technical Analysis Indicates Potential Further Declines



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1 11, 2024

Heritage Documentation Programs (U.S. National Park Service)

By |2024-11-01T20:24:22+02:00November 1, 2024|Dietary Supplements News, News|0 Comments


The Heritage Documentation Programs (HDP) consist of the Historic American Buildings Survey (HABS), Historic American Engineering Record (HAER), and Historic American Landscapes Survey (HALS). The programs document historic sites and structures across the United States through the creation of measured drawings, large-format photographs, and historical reports. Documentation is archived in the HABS/HAER/HALS Collection at the Library of Congress and is available to the public without restriction. HDP is part of the National Park Service’s Cultural Resources, Partnerships, and Science Directorate.



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1 11, 2024

SOL Soars To $180, As the Market Head To The Next Rally, Investors Add Cutoshi To Their Portfolios

By |2024-11-01T19:53:25+02:00November 1, 2024|Crypto News, News|0 Comments

SPONSORED POST*

The highly anticipated bullish Q4 is gradually unfolding, thanks to Bitcoin’s price recovery which has spread a wave of optimism across the crypto market. Amidst the ongoing market frenzy, Solana (SOL) recently crossed the $180 price mark after several failed attempts in the past month. 

Currently, SOL price has dropped below this mark, albeit, it maintains a generally bullish outlook. Meanwhile, Solana’s price resurgence coincides with Cutoshi (CUTO) soaring interest in the presale market. The presale star has been attracting enormous attention after it recently secured a spot on CoinMarketCap which further exposes its lucrative potential.

Cutoshi’s Hybrid Ecosystem Sees Surging Interest  

The Cutoshi (CUTO) ecosystem has witnessed a surge in interest following its recent listing on CoinMarketCap. This has exposed many investors, including Solana whales to its lucrative hybrid ecosystem. Essentially, Cutoshi embraces Satoshi Nakamoto’s Bitcoin core principles of decentralization, anonymity and monetary freedom, thereby blending the community approach of meme coins with the lucrativeness of decentralized finance (DeFi).  

Given this unique approach, the Cutoshi ecosystem houses a DeFi hub that features elements like a DEX platform that facilitates cross-chain and P2P crypto transactions. In addition, the hybrid ecosystem houses a staking protocol and a farming mechanism that offers an extra layer of incentives for users. By engaging in community quests, participants can earn extra tokens and other complementary rewards like NFTs and merch.

Meanwhile, Cutoshi’s entire operation is powered by the native $CUTO token. The deflationary token facilitates various activities, including crypto exchange, token staking, reward distribution as well as governing processes. Considering its self-sustaining attribute, the $CUTO token has attracted over $600K in presale funding with its value jumping by 46% to $0.022 from an initial offering price of $0.015.

Solana Price Nears YTD Peak Levels Amidst Surging Positivity

Solana (SOL) price has made quite a significant recovery in the past month, surging by over 30% from its lowest price level around $135 to hitting a monthly peak above $182. Meanwhile, this positive price outlook was mostly fueled by a noticeable upsurge in SOL price in the past two weeks. 

Source: CoinMarketCap 

As seen in the monthly chart above, SOL price started pricing above the negative zone around mid-October, and has since maintained a bullish momentum that eventually pushed it above the $180 price mark. Although it has since retraced below this crucial level, SOL token is currently trading within a weekly price range of $166 and $175, which reflects over 5% increase.

Interestingly, this is the third time the SOL price is breaking above the $180 mark since it retraced from its year-to-date ATH of $202 back in April. While this suggests a potential price breakout, Solana’ technical analysis, including short and long term moving averages points at a strong buy. This further suggests a sustained trend that could see SOL price push beyond its YTD peak levels. 

Can Cutoshi Compete With Solana-Based Meme Coins?

As an Ethereum based meme coin, Cutoshi introduces a fresh perspective to how meme coins are perceived. While its hybrid ecosystem bridges the gap between meme coin communities and DeFi, Cutoshi is positioning itself as a pacesetter. As such, it holds a strong edge over many existing meme coins, including top Solana meme coins like Bonk and Dogwifhat. 

For more information on the Cutoshi (CUTO) Presale:

https://cutoshi.com

Join and become a community member: 

https://twitter.com/CutoshiToken

https://t.me/cutoshi

*This article was paid for. Cryptonomist did not write the article or test the platform.



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1 11, 2024

Tendency to increase sharply again due to weather concerns

By |2024-11-01T19:49:07+02:00November 1, 2024|Forex News, News|0 Comments


Experts predict that the price of coffee on October 30, 2024 in the domestic market will rebound due to the influence of weather and the influence of the international market.

World coffee prices increased due to concerns that the circulation after the storm could cause heavy rain in the key coffee growing region of the Central Highlands of Vietnam, slowing down the progress of the new crop harvest. Storm Tra Mi (storm No. 6) made landfall, causing heavy rain from Ha Tinh to Binh Dinh and the northern Central Highlands of Vietnam, slowing the supply of the current harvest to the market, as the storm dissipated quickly but brought rain with the tropical depression afterwards. Meanwhile, another storm is forming from the East of the Philippines, named Kong-rey. The storm is moving southward as it gets closer to the end of the year.

Dự báo giá cà phê ngày October 30, 2024: Bật tăng trở lại trên thị trường thế giới
October 30, 2024 Coffee Price Forecast: Tends to increase strongly again due to weather concerns

Coffee prices also rose on news after Brazil’s Somar Meteorologia reported that Brazil’s largest arabica coffee growing region, Minas Gerais, received just 25,1 mm of rain last week, or 74% of the historical average.

Assessing the coffee market in the coming time, experts said that there were too many difficulties right from the beginning of the new crop year, perhaps these difficulties will last until early 2025, when international traders sell all the goods they had hastily purchased before.

At that time, coffee prices will be more stable, but the opportunity to increase prices to reach the previous peak is considered gone. In the current coffee market conditions, we need to do business based on quality, not quantity.

Recorded in the trading session on October 29, 2024, domestic coffee prices today decreased slightly by 800-900 VND/kg, ranging from 108.500-109.100 VND/kg. Currently, the average purchase price in the Central Highlands provinces is 108.700 VND/kg, the highest purchase price in Dak Nong province is 109.100 VND/kg.

Specifically, the coffee purchase price in Gia Lai province (Chu Prong) is 109.000 VND, down 800 VND/kg compared to yesterday, in Pleiku and La Grai the same price is 108.900 VND/kg; In Kon Tum province, the price is 109.000 VND/kg, down 800 VND/kg compared to yesterday; In Dak Nong province, coffee is purchased at the highest price of 109.100 VND/kg, down 900 VND/kg compared to yesterday.

The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 108.500 VND/kg, a decrease of 900 VND/kg compared to yesterday.

Coffee price today (date 29/10) in Dak Lak province; in Cu M’gar district, coffee is purchased at around 109.000 VND/kg, down 800 VND/kg, while in Ea H’leo district and Buon Ho town, coffee is purchased at the same price 108.900 VND/kg.

Updated world coffee prices at 20:00 on October 29, 2024 Vietnam time on the London exchange, the price of Robusta coffee futures contract for monthly delivery November 2024 on the London exchange was at 4.457 USD/ton, down 45 USD compared to the beginning of the trading session.

Coffee price forecast October 30, 10: Bouncing back in the world marketDự báo giá cà phê ngày October 30, 2024: Bật tăng trở lại trên thị trường thế giới
Coffee price today October 29, 2024: Robusta coffee price on London floor. (Photo: Screenshot giacaphe.com

The monthly delivery term January 2025 is 4.367 USD/ton, down 43 USD; the monthly delivery term March 2025 is 4.296 USD/ton, down 41 USD and the monthly delivery term May 2025 is 4.206 USD/ton, down 51 USD.

Coffee price forecast October 30, 10: Bouncing back in the world marketDự báo giá cà phê ngày October 30, 2024: Bật tăng trở lại trên thị trường thế giới
Arabica coffee price on New York floor on October 29, 2024. (Photo: Screenshot of giacaphe.com)

In particular, the price of Arabica coffee on the New York floor today at 20:00 on October 29, 2024 decreased in all terms, fluctuating at 246.05 – 251.00 cents/lb.

Specifically, the monthly delivery term December 2024 is 251.00 cents/lb; down 1.35 cents/lb compared to the beginning of the session. The monthly delivery term March 2025 is 250.05 cents/lb, down 1.30 cents/lb; the monthly delivery term May 2025 is 248.70 cents/lb, down 1.20 cents/lb and the monthly delivery term July 2025 is 246.05 cents/lb, down 0.47 cents/lb.

Coffee price forecast October 30, 10: Bouncing back in the world marketDự báo giá cà phê ngày October 30, 2024: Bật tăng trở lại trên thị trường thế giới
Brazilian Arabica coffee price on October 29, 2024.(Photo: Screenshot from giacaphe.com)

Brazilian Arabica coffee prices today at 21:00 p.m. October 29, 2024 increased and decreased in opposite directions. Specifically, the monthly delivery term December 2024 was 303.00 USD/ton, down 0.49%; the monthly delivery term March 2025 was 303.00 USD/ton, down 0.61%; the monthly delivery term May 2025 was 306.35 USD/ton, up 1.64% and the monthly delivery term July 2025 was 302.70 USD/ton, up 1.59%.

Robusta coffee traded on ICE Futures Europe (London floor) opens at 16:00 and closes at 00:30 (the next day), Vietnam time.

Arabica coffee on the ICE Futures US floor (New York floor) opens at 16:15 p.m. and closes at 01:30 a.m. (the next day), Vietnam time.

According to data from the General Department of Customs, Vietnam’s coffee exports in the first half of the month October 2024 reached 21,5 thousand tons, worth 125,8 million USD, up 0,4% in volume and 7,5% in value compared to the first half of September; and compared to the first half of the month October 2023 increased by 9% in volume and 20,5% in value. Accumulated from the beginning of the year to October 15, 2024, Vietnam’s coffee exports reached approximately 98,0 million tons, worth 1,13 billion USD, down 4,44% in volume, but up 11,1% in value compared to the same period in 39,1.

Currently, businesses in the Vietnamese coffee supply chain are facing many challenges. Rising prices stimulate farmers to pursue short-term benefits. Increasing supply shortages due to depleting domestic inventories.

Information for reference only. Prices may vary depending on locality.



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1 11, 2024

Tom Harkin discusses legislative milestone, future of supplement industry

By |2024-11-01T18:22:44+02:00November 1, 2024|Dietary Supplements News, News|0 Comments


MANDALAY BAY, LAS VEGAS—Former U.S. Sen. Tom Harkin spoke at SupplySide West on Oct. 29 as part of a session commemorating the 30th anniversary of the passing of the Dietary Supplement Health and Education Act in 1994 (DSHEA).

The Iowa Democrat shared stories from the hectic buildup to the bill’s final vote and his vision of what the supplement industry needs to face the challenges of the future.

Harkin, who was among the most prominent champions of DSHEA, called the law a “great success” that has lived up to his expectations in allowing citizens to take control over their health choices. Harkin and the late Sen. Orrin Hatch (R-Utah) are credited for vigorously advocating for DSHEA and getting it across the finish line.

“What DSHEA has done is to empower healthy behaviors and healthier lifestyles,” he said. “This anniversary is a proud moment for me.”

‘This affected my own life’

Harkin shared how a combination of personal and political circumstances led him to be an ideal choice to shepherd DSHEA through Congress.

He had been a vocal advocate of supplements since the mid-1980s, after taking bee pollen had helped him control his allergies. Then, in 1992, Harkin spearheaded the creation of the Office of Alternative Medicine (today the Center for Complementary and Integrative Health) at the National Institutes of Health, and helped get it crucial early funding. But not everybody was thrilled about this achievement.

Related:FDA official cites complexity of marketplace after 30 years of DSHEA

“The allopathic medical community landed on me like a ton of bricks,” Harkin recalled.

As calls for natural product regulation grew louder, Harkin found allies in both natural health industry leaders and the millions of Americans who wanted to make proactive health choices. The law they envisioned would preserve this ability and allow companies to keep pace with consumers’ ever-changing health needs.

“I’ve often said that DSHEA represents my fundamental belief, going way back, that in American we have a ‘sick care’ system, not a ‘health care’ system,” Harkin remarked. “In America, it’s easy to be unhealthy and hard to be healthy. It ought to be the other way around.”

‘People in the industry never gave up’

The fledgling bill faced powerful opposition from the start. But Harkin said DSHEA was a perfect example of “how you get things done” in Washington — with trade organizations setting competition aside and working with legislators.

“They were just great friends, great leaders, people who really put their shoulder to it to get this job done,” Harkin recalled of the natural products trade leaders with whom he worked. “DSHEA faced really fierce opposition. But people in the industry never gave up.”

Just as crucially, millions of Americans let their leaders know just how important this issue was to them.

“Consumers continued to flood Congress with letters and phone calls,” the former U.S. senator recalled. “Consumers would show up at their town meetings, and this would be a big issue at all of our town hall meetings.”

Even with all that support, DSHEA may not have stood a chance if not for one circumstance: Harkin’s position as head of the health subcommittee of the Senate Appropriations Committee. This gave him a crucial bargaining chip with the bill’s many opponents.

“I was on the health committee,” he recollected. “(Sen. Ted) Kennedy was the chair. He was not in favor of (DSHEA), but he had to come to me for appropriations for the things he wanted for health care. It’s always nice to have the purse strings. And so we worked it out.”

Peter Reinecke, who served as legislative director and chief of staff to Harkin, told SupplySide Supplement Journal (formerly known as Natural Products Insider) that his former boss was chair of the health subcommittee of the Senate Appropriations Committee for over 20 years. Reinecke said Harkin also had experience for years chairing the Agriculture and Nutrition Committee and the Senate Health, Education, Labor and Pensions Committee, which has jurisdiction over the U.S. Food and Drug Administration.

“The way things used to work’

Harkin shared vivid memories of the process to nail down the “last vestiges” of DSHEA, culminating in a final meeting between him, DSHEA supporter and New Mexico Rep. Bill Richardson, and two powerful holdouts in California Rep. Henry Waxman and Michigan Sen. John Dingell.

Waxman is retired from Congress. Dingell and Richardson died in 2019 and 2023, respectively.

Waxman had concerns about enforcement and GMPs (good manufacturing practices), and he and Harkin hammered them out in a private conversation that Harkin said was emblematic of “the way things used to work — and the way they should work — in government and in politics.”

“I told him, ‘Trust me, Henry. I’m giving you my word. We’re going to make it work,’” Harkin recollected. “‘We’ll get the good manufacturing practices. We’ll hold this industry to the highest standard. He said, ‘OK.’ We shook hands, went back in, and that was the end.”

Even in a year that was legendary for partisan gridlock, DSHEA passed by unanimous votes in both the U.S. House of Representatives and Senate before being signed into law by President Bill Clinton on Oct. 25, 1994. Harkin said the process to get it there has a lot to teach today’s politicians. 

“You’ve gotta trust people once in a while,” he said. “You’ve got to have friendships. You’ve got to build things across the aisle.”

‘We’ve got to be better prepared’

Harkin retired from the Senate in 2015, but has remained engaged with public policy through the Harkin Institute for Public Policy and Citizen Engagement at Drake University in Des Moines, Iowa. The Harkin Institute is best known for work in supporting people with disabilities, but also has a focus on wellness and nutrition. 

At the end of his comments, Harkin made a pitch to industry trade leaders to utilize the institute as it faces new calls for regulation that echo those that led to the creation of DSHEA.

“I have long thought there’s a real void in terms of getting sound, unbiased policy analysis when it comes to this area,” he said. “The Harkin Institute can fill this void. I want the Harkin Institute to become the national think tank on dietary supplements and natural health policy.”

The former U.S. lawmaker added, “There’s things that we may want to change in the future. There may be things that others want to change on us in the future, to our detriment in this industry. And we’ve got to be better prepared.”





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1 11, 2024

Cardano Price Analysis As Analyst Says ‘Bitcoiners Don’t Care’ About ADA

By |2024-11-01T17:51:56+02:00November 1, 2024|Crypto News, News|0 Comments

Cardano price still struggles to break key resistance levels as one analyst’s recent statement that “Bitcoiners don’t care” about ADA sparked debates within the crypto community. This sentiment suggests a potential lack of influence from Bitcoin enthusiasts on ADA’s price movements, especially after the foundation announced a move to tap into the $1.3 trillion Bitcoin ecosystem. 

Why Is Cardano Price Down Today?

ADA price is trading at $0.3415, down 4.1% in the last 24 hours. The decline is likely because Bitcoin’s price slid below $70,000 following a U.S. stock market crash that wiped out $953 billion. The crypto market is down 5.3%, and Bitcoin trades at $69,551 at 00:53 a.m. EST.

Cardano Price Analysis As Analyst Says ‘Bitcoiners Don’t Care’ About ADA
ADA/USDT Price Chart

Bitcoiners Don’t Care About Cardano

A crypto analyst has said that Bitcoiners don’t care about Cardano. This negative sentiment comes shortly after the Cardano Foundation announced its most significant move yet to tap into the $1.3 trillion Bitcoin ecosystem.

There has been a heated debate on crypto X spaces. Bitcoiners claim Cardano wants to become a Bitcoin Layer 2 network. ADA enthusiasts argue this is not the case and that Cardano will remain an independent Layer 1 blockchain connected to the Bitcoin blockchain.

Since this announcement Cardano price has only lost value, leading to many in the space having second thoughts about its importance.

Joe 2.0 shared his concerns about the Bitcoin-Cardano connection noting that, among other things:

  1. Native BTC is not coming to Cardano because it will be a wrapped asset.
  2. The bridge is not  “trustless” but has some assumptions.
  3. Cardano can’t “tap” Bitcoin liquidity in its current state. 

https://twitter.com/joe4deadcat/status/1851993014974992487

One of the major concerns that Bitcoin maxis have had with other decentralized protocols is the requirement that they move funds from their wallets. This goes against the age-old crypto mantra, “Not Your Keys, Not Your Coins.” Joe 2.0 wondered whether this would be the same case for the Cardano-Bitcoin connection.

Until such concerns are addressed, Cardano price will likely continue performing poorly until the overall market changes.

ADA Price Prediction: Is A 60% Crash Inbound?

Cardano price is trending in what seems like a bear pennant, a continuation pattern. This is alarming, given the announcement of the Bitcoin-ADA connection and the most recent speculation about a potential NASA partnership with ADA.

ADA is trending near the bottom of the pennant, a dangerous zone as a breakdown could result in a 60% crash to $0.13. There is immediate support around $0.22 which could hold the price up however, if the selling pressure is too high, $0.13 remains the long-term target.

Cardano Price Analysis As Analyst Says 'Bitcoiners Don't Care' About ADACardano Price Analysis As Analyst Says 'Bitcoiners Don't Care' About ADA
Cardano Price Analysis Chart

This analysis also plays into a Cardano macro-historical pattern that reveals the asset could run into a crash first before the main pump begins. The targets align closely with $0.13, further validating this current analysis.

However, this bearish thesis could be averted if bulls push the price above the pennant. The ADA price would then seek higher resistance levels around $0.5 and $0.81.

Frequently Asked Questions (FAQs)

Cardano’s price recently dropped to $0.3415, losing 4.1% in the past 24 hours. This decline is partly due to Bitcoin’s price drop below $70,000, which led to a broader crypto market downturn.

This statement by a crypto analyst highlights the perception that Bitcoin enthusiasts may not support ADA or see value in Cardano’s efforts to connect with Bitcoin. This sentiment is sparking debate, as some see it as a lack of influence from Bitcoin on ADA’s price movements.

Analysts suggest that Cardano is currently in a bearish continuation pattern (bear pennant), with a potential crash to $0.13 if it breaks key support around $0.3. However, if bulls rally, ADA could recover to resistance levels around $0.5 and $0.81.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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1 11, 2024

New Survey Shows Grim Outlook For Oil Markets

By |2024-11-01T17:47:55+02:00November 1, 2024|Forex News, News|0 Comments


A Reuters poll released Thursday paints a lackluster future for oil in 2025, with a cocktail of sluggish demand growth and supply glut concerns pulling prices down. Analysts now see Brent crude averaging $80.55 per barrel this year and $76.61 in 2025— a steady downgrade from earlier projections.

The pessimistic shift stems from a trio of factors. China’s lukewarm demand, despite its role as the world’s top oil consumer, casts a long shadow. Meanwhile, oil supplies from key producers are poised to swell, especially with OPEC+ eyeing an output hike in December. And the geopolitical storms that once rattled markets, particularly fears of escalations in the Middle East, have calmed. As Ole Hansen, Saxo Bank’s head of commodity strategy, noted, these flare-ups may stir oil prices, but the risk of real disruption is, well, limited.

U.S. crude also follows suit, with prices expected to hover at $76.73 a barrel this year and down to $72.73 in 2025. This downtrend marks the sixth straight month of reduced expectations for the year’s average prices.

Brent’s current crude price is $73.25, with WTI at $69.55 per barrel—up about 1% on the day, but down based on month-ago levels.

For 2025, the poll hints at a slight bump in global oil demand by roughly 1-1.5 million barrels per day, though it’s not exactly the cavalry. 2024 global demand is expected to be between 0.8 million and 1.2 million bpd, the poll showed.

Seasonal factors may prompt OPEC+ to delay their planned December increase until spring 2025, as Stratas Advisors’ president John Paisie told Reuters, saying “We think that OPEC+ could delay the increase in supply until end of March/beginning of April of 2025, given that demand will drop in Q1 2025 from Q4 2024 because of seasonal factors.”

When the geopolitical winds ease and China’s economy stalls, crude prices might just hit the snooze button for a while.

By Julianne Geiger for Oilprice.com

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