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By Cryptowarrior · Posted
Donald Trump’s victory in the 2024 U.S. Presidential Election has sparked optimism in the cryptocurrency market. With growing crypto influence in U.S. politics, many investors believe his win could lead to favorable changes for Bitcoin prices and regulatory policies surrounding digital assets. Trump's Election: A Boost for Crypto Trump’s win signals a shift toward a more crypto-friendly U.S. administration. Investors are hopeful that, under his leadership, the SEC may adopt a less stringent approach to cryptocurrency, providing much-needed regulatory clarity. Rising Crypto Support in U.S. Politics Pro-crypto sentiment is growing across political lines. Coinbase CEO Brian Armstrong pointed out that 205 pro-crypto candidates were elected to the House of Representatives, far outnumbering their anti-crypto counterparts. The Senate also saw an increase in pro-crypto senators. This shift is fueling hopes for more supportive crypto regulations in the U.S. What Will the SEC Do Under Trump? The SEC’s approach to crypto could change under Trump. Historically, the SEC has taken a hardline stance on digital assets, filing numerous lawsuits against exchanges and companies. Trump has criticized the agency's regulatory overreach and has hinted that he would fire SEC Chairman Gary Gensler, leading many to believe the SEC might ease its position on crypto. Coinbase’s Chief Legal Officer, Paul Grewal, has urged the SEC to rethink its approach, suggesting that a more favorable regulatory environment could help drive Bitcoin prices higher. Bitcoin Price Hits New ATH: The Market Reacts Bitcoin’s price surged to a new all-time high (ATH) following Trump’s election victory. Currently Bitcoin was trading at $73,864.57 as per Coinpedia markets data.. This rally reflects growing investor confidence that a pro-crypto administration will drive the market forward, potentially leading to new price records for Bitcoin and other digital assets. For a deeper dive into Bitcoin Price Prediction and market trends, check out our detailed analysis. Will the SEC Drop Crypto Lawsuits? Investors are now wondering if the SEC will ease its legal actions against crypto companies. With Trump’s pro-crypto stance, there’s speculation that the SEC could start dropping ongoing lawsuits, providing greater stability for the market. Bitcoin’s Bright Future Ahead Trump’s victory, combined with growing crypto support in Congress and a potential shift in SEC policies, sets a positive outlook for Bitcoin and the broader crypto market. Regulatory clarity could propel Bitcoin prices even higher in the near future. -
By CryptoChamp · Posted
Solana (SOL) recently dropped from $180 to $160, possibly due to profit-taking or broader market trends. However, with Bitcoin's rise, Solana price could potentially surge to $1,000 in the future. Current Solana Price and Key Support Levels Price Status: Solana price today is trading in the $160 range, maintaining a level above critical moving averages as per Coinpedia Markets. Support Levels: SOL is currently above the 50-day SMA ($153.30) and 200-day SMA ($151.40), which are key support levels. Holding above these could be a good sign of a potential price recovery. Temporary Downtrend: Despite the dip, trading above these support levels suggests that this downturn might only be temporary. Bullish Solana Price Prediction from Analysts Analyst View: Crypto analyst Bhr Investor believes Solana could reach between $650 and $1,000 in the next bull run. Market Conditions: Bhr Investor emphasizes that more candlestick patterns are needed to confirm this prediction, and he’s closely watching for signs of upward momentum. Growth Outlook: If the market shifts positively, the potential for Solana to soar is strong, backed by its position and market dynamics. Rising Network Activity on Solana Increased Usage: Solana’s network is seeing increased usage, which positively affects its fees. Outperforming Ethereum: Recent data from DeFiLlama shows that Solana briefly surpassed Ethereum in daily network fee generation. Raydium's Role: This surge is largely due to high activity on Raydium, Solana’s leading decentralized exchange, which brought in over $3 million in a single day through fees. Long-Term Impact: With increasing adoption and usage, Solana’s utility is expanding, which could support a steady price climb. Price of Solana vs. Ethereum Ethereum's Position: Although Solana briefly outpaced Ethereum in network fees, Ethereum still holds the lead with $2.72 million in fees over the last 24 hours. Close Race: The margin between the two networks is narrowing, and Solana’s expanding activity could continue to close the gap, boosting its reputation in the DeFi space. Final Thoughts: Is Solana a Good Investment? Potential for Growth: Despite recent price drops, Solana has strong growth potential. As its network activity increases, the price of Solana may see upward momentum. Future Outlook: With experts forecasting a Solana price range of $650 to $1,000 in the next bull run, the long-term outlook appears promising. Bullish Sentiment: Prominent crypto enthusiasts like Evan Luthra are bullish on Solana, seeing it as one of the top coins to watch alongside Bitcoin and Ethereum. -
By tradinglounge · Posted
ITC LTD – ITC (1D Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minor degree, Grey) Mode: Corrective Structure: Impulse within larger degree corrective wave Position: Lower degree impulse might be complete. Not labelled yet. Details: We have proposed a potential change in the trend as price action confirms a break below 480 last week. A lower (Minute) degree impulse wave might be complete but not labelled yet. Will highlight an alternate count when price action is relevant. Invalidation point: 530 ITC Daily Chart Technical Analysis and potential Elliott Wave Counts: ITC daily chart is indicating a potential termination of Intermediate Wave (5) Orange at 530 high. If correct, a corrective wave should be now underway with prices dropping through 400 levels in the past few trading sessions. Alternatively, Minor Wave 4 of (5) is now complete around 470 mark. The stock had dropped through 135 lows around March 2020, which is followed by a religious rally through 530 high completing an impulse at Intermediate degree. Please also note that Minor Wave 3 of Intermediate Wave (3) was extended. Intermediate Wave (4) terminated around 400 mark, followed by a rally through 530 to terminate Intermediate Wave (5). If the above holds well, ITC should be well underway lower to produce a larger degree corrective drop. ITC LTD – ITC (4H Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minor degree, Grey) Mode: Corrective Structure: Impulse within larger degree corrective wave Position: Lower degree impulse might be complete. Details: We have proposed a potential change in the trend as price action confirms a break below 480 last week. A lower (Minute) degree impulse wave might be complete but not labelled yet. Alternatively, the high registered at 530 could be Minor Wave 3 followed by Wave 4 around 470. If the alternate turns true, the stock could witness another high above 530 going forward. Invalidation point: 530 ITC 4H Chart Technical Analysis and potential Elliott Wave Counts: ITC 4H chart reveals sub waves since Intermediate Wave (4) Orange termination around 400-05 mark. Intermediate Wave (5) could be sub divided into Minor Waves 1 through 5 to terminate around 530 level. Alternatively, Minor Wave 4 is no complete around 470 and prices could produce another rally above 530 mark. Conclusion: ITC might have terminated Intermediate Wave (5) Orange around 530 mark and a larger degree corrective wave is now underway. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here!
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