- Bitcoin held steady above $60,000 on Friday, up more than 1% on the day.
- Ethereum is trading above $2,400, with the BlackRock Spot Ethereum ETF expected to receive $17.8 million in inflows on Thursday.
- XRP is back above $0.5300 as Ripple files cross-appeal in SEC lawsuit.
- Meme coin NEIRO has corrected nearly 9% on the day after registering an increase of over 50% in October.
Bitcoin, Ethereum, XRP updates
- As of writing on Friday, Bitcoin is trading just above $61,100. The largest crypto asset by market capitalization rose more than 1.20% on the day.
- Ethereum traded above $2,400 on Friday, up more than 1%. BlackRock's Spot Ethereum Exchange Traded Fund (ETF) ended its streak of neutral flows on Thursday with $17.8 million in inflows.
- XRP remains above $0.5300 as Ripple announces counterclaim to US Securities and Exchange Commission (SEC) lawsuit.
Today's chart: NEIRO
NEIRO was up more than 70% at one point in October. Memecoin is trading at $0.00155934 at the time of writing, and is sweeping liquidity at the upper end of the fair value gap (FVG) of $0.00128254, as seen in the NEIRO/USDT daily chart below. This could wipe out any gains you may have made.
The support level coincides with Meme Coin's 10-day Exponential Moving Average (EMA).
The Moving Average Convergence Divergence (MACD) indicator shows a red histogram bar below the neutral line, indicating negative underlying momentum in the NEIRO price trend. The Relative Strength Index (RSI) is near neutral at 57.01.
NEIRO/USDT daily chart
If the daily candlestick closes above the resistance level at $0.00170158, the bearish theory will be invalidated and NEIRO could rise towards the October 9th high of $0.00194929.
Market updates
- Binance executive Tigran Gambariyan was denied bail by a Nigerian judge on Friday. Gambarian is Binance's head of financial crimes compliance, and U.S. lawmakers have previously said the executive was unfairly detained.
- Standard Chartered expects Solana prices to soar if former US President Donald Trump wins the November election. Jeffrey Kendrick, head of digital assets, predicted a 400% rise in the Solana market.
- Derivatives exchange Bitnomial challenged the SEC's position on XRP and the legal clarity of crypto exchanges as non-securities. The exchange has criticized the regulator's “regulation by enforcement” approach.
Industry updates
- Binance announces launch of pre-market trading platform. According to an official announcement, this may allow users to trade tokens before they are listed on the spot market.
- Former Binance CEO Changpeng Zhao announced that he will be attending Binance Blockchain Week in Dubai on October 30-31 in his personal capacity.
In my personal capacity, I will be attending Binance Blockchain Week in Dubai from October 30th to 31st. This is one of the biggest Web3 events of the year. Let's meet again. ✊
— CZ BNB (@cz_binance) October 10, 2024
- Bitcoin returns to three-week low. Analysts at cryptocurrency intelligence tracker Santiment view this as a “buy on the buy” opportunity.
Bitcoin fell to $58,900 today, returning to a three-week low. However, traders see this as a buying opportunity. The narrative took a bullish turn, especially after the US Consumer Price Index (CPI) report announced that a rate cut is still likely. pic.twitter.com/Yet0YTjeiL
— Santiment (@santimentfeed) October 10, 2024
