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SHIBA Price Analysis: Shiba Inu (SHIBA) Prints Potential Triple Bottom

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  • SHIB price rises nearly 20% the last 24 hours
  • SHIB Price has potentially formed a triple bottom
  • SHIB continues to reject off 50 MA

SHIB Price Today

Shiba Inu experienced mind blowing gains early this year as it rose 1000s of percent. Although,  SHIB price fell victim to market trends and has since fallen over -70% from highs. BTC must find its footing above 35k for SHIB to be clear to start a new uptrend back to old highs. SHIB price often follows DOGE which has shown some potential signs that a revival is occurring. 

While looking at all three of SHIB’s lows, we can see a potential triple bottom has formed. This is a bullish indication and can signal SHIB’s bottom is in for some time. SHIB price must hold its current support level of $0.00000640 to be in position to continue revival. If bulls fail to hold price above this mark, SHIB will be in for a fall to its major support zone of $0.00000552 – $0.00000575. Anything below this zone is a super bearish scenario as SHIB price hasn’t been that low on the Binance chart.

SHIB Price Analysis: SHIB/USDT 4 Hour Chart

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Throughout the last 3 weeks, SHIB price has formed a descending channel formation. Price has respected both sides of the channel very well as SHIB just experienced a rejection off the top trend line today. SHIB must break over this top trend line along with the 50 MA as it has been holding price down for over two weeks. Bulls will then have to battle out minor resistance of $0.00000675 to be free for a larger uptrend to take place. 

The RSI has just broken over a 3 week long trend line with much strength. As long as strength continues to stay over the 50 value, SHIB price will likely rise higher. The Stochastic RSI is currently in overbought territory. This must continue or SHIB will have a short term pullback.

SHIB Price Intraday levels 

  • Spot rate: $0.00000638
  • Trend: Bearish
  • Volatility: Medium
  • Support: $0.00000633
  • Resistance: $0.00000675

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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Source: https://coingape.com/shiba-price-analysis-shiba-inu-shiba-prints-potential-triple-bottom/

Blockchain

Goldman Sachs Files for “DeFi” ETF to Track Tech Giants

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The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies.

According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the performance of the Solactive DeFi and Blockchain Index from the German indices provider.

The details were thin on the ground but the fund will invest at least 80% of its assets into securities, stocks, and fintech firms featured in the index.

DeFi Fund Without The DeFi

It appears that Goldman may be a little confused over the definition of “DeFi”. A closer look at the Solactive Index reveals that it is largely comprised of U.S. tech giants and international telecoms companies.

Of the top twenty components in its July 23 report, not one of them could be described as a DeFi or blockchain project or organization. The top three were Nokia, Facebook, and Google’s Alphabet.


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Also in the list of stocks tracked were payments giants Visa, Mastercard, and PayPal, tech giants Microsoft, IBM, and Intel, and Chinese e-commerce and telecoms monopolies Baidu, Alibaba, and Tencent.

Hardly what anyone would describe as “decentralized finance”.

It is not the first time Goldman Sachs has got its wires twisted over the crypto industry.

Confusion Reigns at Goldman

In a June 14 report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, the bank concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

They contradicted a May 21 report titled “Crypto: A New Asset Class?” which was largely positive about them with the global head of digital assets at Goldman, saying “Bitcoin is now considered an investable asset”.

Earlier this month, analysts at the investment bank outlined their reasoning behind the claim that Ethereum will eventually become a better store of value than Bitcoin. It also reported that 45% of the ultra-rich are interested in crypto.

In April, Goldman added Bitcoin to its year-to-date returns report, and in March, the bank filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group (NYDIG).

Now it seems that Goldman has equated DeFi with the likes of Facebook, Google, and Microsoft!

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Source: https://cryptopotato.com/goldman-sachs-files-for-defi-etf-to-track-tech-giants/

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Blockchain

Huobi Files to Dissolve Chinese Entity Following Recent Cryptocurrency Crackdown

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One of the leading cryptocurrency exchanges, Huobi, has filed to dissolve an entity based in China. This comes as the country escalates its efforts to clamp down on the cryptocurrency industry, in general.

  • Evident in Chinese business registration archives, the entity’s management has filed a Resolution to dissolve On July 22nd, this year.
  • The announcement further reads that “creditors are requested to declare their claims to the liquidation team within 45 days from the announcement date.”
  • Listed as a claim contact person, as well as the head of the liquidation team, is Huobi Group’s founder and CEO, Lin Li.
  • It’s worth noting that Huobi has moved its exchange out of China quite a while back, and it’s unlikely that this will affect its services. As of now, Huobi Group is based in the Seychelles.
  • In any case, the move comes amid a broader crackdown on behalf of China towards the entire cryptocurrency industry.
  • Just this month, China’s Central Bank shut down a company that provides services for cryptocurrency transactions.
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Source: https://cryptopotato.com/huobi-files-to-dissolve-chinese-entity-following-recent-cryptocurrency-crackdown/

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Blockchain

Goldman Sachs Files for “DeFi” ETF to Track Tech Giants

Published

on

The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies.

According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the performance of the Solactive DeFi and Blockchain Index from the German indices provider.

The details were thin on the ground but the fund will invest at least 80% of its assets into securities, stocks, and fintech firms featured in the index.

DeFi Fund Without The DeFi

It appears that Goldman may be a little confused over the definition of “DeFi”. A closer look at the Solactive Index reveals that it is largely comprised of U.S. tech giants and international telecoms companies.

Of the top twenty components in its July 23 report, not one of them could be described as a DeFi or blockchain project or organization. The top three were Nokia, Facebook, and Google’s Alphabet.


ADVERTISEMENT

Also in the list of stocks tracked were payments giants Visa, Mastercard, and PayPal, tech giants Microsoft, IBM, and Intel, and Chinese e-commerce and telecoms monopolies Baidu, Alibaba, and Tencent.

Hardly what anyone would describe as “decentralized finance”.

It is not the first time Goldman Sachs has got its wires twisted over the crypto industry.

Confusion Reigns at Goldman

In a June 14 report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, the bank concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

They contradicted a May 21 report titled “Crypto: A New Asset Class?” which was largely positive about them with the global head of digital assets at Goldman, saying “Bitcoin is now considered an investable asset”.

Earlier this month, analysts at the investment bank outlined their reasoning behind the claim that Ethereum will eventually become a better store of value than Bitcoin. It also reported that 45% of the ultra-rich are interested in crypto.

In April, Goldman added Bitcoin to its year-to-date returns report, and in March, the bank filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group (NYDIG).

Now it seems that Goldman has equated DeFi with the likes of Facebook, Google, and Microsoft!

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://cryptopotato.com/goldman-sachs-files-for-defi-etf-to-track-tech-giants/

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