OSL Daily Update - September 15, 2020
$BTC 24 Hour High $10,800.01
$BTC 24 Hour Low $10,266.01
- $BTC jumped up 4.66% overnight to 10,700 to 10,800 range, and dominance sits at 56.7%
- Trading at 300 above 10d SMA expectations and overbought RSI levels
- $ETH blockchain seeing tons of (yield) farmers shifting across various platforms in search for higher yields, leading to a temporary surge in gas fees during Americas’ trading session. $ETH inched towards 400 resistance again, trading at 380 currently, after Sunday’s sell off from 390 to 366. The spike in $ETH value coincides with the demand of DeFI and for gas fees
- $DOT surpasses BCH as #5 large cap coin with all coins in the green ranging from +5-10%
More from Alts and DeFi:
- $LINK currently at oversold levels at 12 range, range bound between 12 and 14 for the past nine days. Will be looking to break past this range with increased volumes coming from DeFi staking projects that incentivizes LINK-paired liquidity pools;
- $YFI staying within striking distance around 40K levels, up 20% over the past 48 hours to 39,750 levels. ATH was reached last Friday at 44,000 and has been trading horizontally for the past 12 hours;
- $BNB drops slightly as the hype surrounding Binance Smart Chain and BurgerSwap cools down. $BNB drops from yearly highs of 32 to 29 range and at oversold levels. $BNB’s outlook is bright with potential capabilities of the chain to mimic ERC20 with its own BEP20. Will need to see if the community grows to follow in the TVL footsteps that currently Uniswap and the rest of the ETH20-based projects are seeing.
News that caught our eye:
- A rise in cloud server attacks has been reported with the primary intent to mine cryptocurrency
- Crypto.com to leverage Chainlink for price feeds in latest DeFi move
OSL Trader View and Weekend Digest are contributed by Stefan Chu, SJ Oh, and Santiago Nazaretti
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