U.Today – Here are the top three stories of the past day, as presented by U.Today.
(BTC) to hit $40,600 in historic price drop
Recently, on-chain analyst Ali Martinez issued a critical warning regarding Bitcoin. In his post on X on Sept. 4, Martinez shared a two-month chart for the largest cryptocurrency, stating that the TD Sequential indicator is flashing a sell signal “anticipating a correction.” According to the analyst, if Bitcoin loses the crucial support level of $51,000, it could drop to the low of $40,600. Although the market has seen several price corrections over the past few months, a drop below $51,000 could significantly impact BTC and potentially have repercussions for the broader market. At the time of writing, Bitcoin is trading at $54,630, down 3.54% over the past 24 hours, according to CoinMarketCap.
A “death cross” sign could begin to form
XRP appears to be heading towards the formation of a death cross, a bearish signal that occurs when the 50-day moving average crosses below the 200-day moving average. This pattern usually signals a significant trend reversal, which could lead to further selling pressure. Currently, XRP is trading at around $0.52 and is struggling to hold those levels; if it cannot gain some bullish momentum, it could see the drop to $0.50 or even lower. Given the current market conditions and ongoing regulatory concerns, traders are becoming more cautious, which could lead to further sell-offs. Overall, technical signals suggest that a steep decline could be on the horizon, especially if XRP breaks key support levels.
(SHIB) Introduces New Portal to Empower Developers
In a recent post on X, Lucie, Marketing Lead at Shiba Inu and a prominent member of the SHIB community, shared an article dedicated to the ShibDev Portal, “the key enabler for developers to build on Shibarium.” As stated in the article, the portal offers a wide range of developer tools, which will help innovators build decentralized applications (dApps) more easily. Key features of the ShibDev Portal include a centralized dashboard, API key management, node access, on-chain data access, and a test token faucet. This portal is useful for both experienced and new developers in the SHIB ecosystem, as it offers detailed documentation that serves as a guide. Additionally, the ShibDev Portal supports diverse use cases, spanning DeFi, NFTs, gaming and virtual worlds, social media, DAOs, and identity verification.
This article was originally published on U.Today
