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U.Today presents the top three news stories from the past day.
XRP rival XLM price could be on the verge of biggest collapse since 2021 if Bollinger Bands pattern validates
Stellar token XLM is being tested Downtrend. Recent analysis using Bollinger Bands indicates that the upper band has been reached and even broken at $0.6374, while the average, represented by the 20-day moving average, stands at $0.21. A similar picture was observed in 2021; At that time, XLM price peaked at $0.797 and then fell by 48.73% within one week. Although XLM has already seen a 40% decline over the past three weeks, the possibility of another 45% decline looms, although its future performance will largely depend on broader market trends and not just historical patterns. At the time of writing, XLM is trading at $0.3535, down 2.07% over the past 24 hours, according to CoinMarketCap.
The Japanese government is skeptical about Bitcoin reserves
Wu Blockchain has been developed recently I mentionedThe Japanese government has “expressed a cautious stance” regarding Bitcoin adoption, citing CoinPost As a reserve currency. This position emerged despite the urging of Satoshi Hamada, a member of the House of Councilors, to adopt an approach similar to that of the United States. However, Prime Minister Shigeru Ishiba stated that the government lacks detailed information on US actions regarding Bitcoin reserves. According to Wu Blockchain's post, the reason stems from the fact that crypto assets do not fall under the category of foreign exchange, coupled with the need to ensure the security and liquidity of foreign exchange reserves.
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The 67 trillion Shiba Inu (SHIB) level is about to disappear
According to the latest data on the chain, the Shiba Inu currently finds itself At a pivot pointand faces major challenges as the market remains bearish. The asset is struggling to hold crucial support levels, particularly the 50 Exponential Moving Average (EMA), and is currently trading near $0.00002164, with the 200 EMA now dangerously close to where SHIB is trading. Losing these support levels could lead to a significant decline, possibly falling to $0.0000204 or lower. Adding to this troubling story is the sharp decline in large transaction volumes by institutional investors. Panic selling could worsen the situation if key support levels are breached, although there is still a glimmer of hope for a recovery if SHIB can bounce back from the 200 EMA and attract speculative buying.
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