• Stellar Lumen (XLM) price is facing a major resistance near the $0.090 zone against the US Dollar.
• There is a key contracting triangle forming with resistance near $0.0890 on the 4-hours chart.
• XLM price must stay above the $0.084 support to rise further and clear the $0.0890 and $0.090 resistance levels for more gains towards $0.0932 and beyond.
Stellar Lumen Price Analysis
Stellar lumen price is trading above $0.0820 against the US Dollar, similar to bitcoin.
The bulls pushed the price above the 50% Fib retracement level of the main decline from the $0.0978 swing high to $0.0746 low.
On the upside, the price is facing resistance near the $0.0890 zone which is near 61.8% Fib retracement level of the main decline from swing high to swing low.
The next major resistance is near at around 0$.0900 which if broken could send XLM towards 0$.0932 or even higher.
An initial support on downside lies at around 0$.0865 followed by 0$.084 and most importantly 0$.08004.
Technical Indicators>4 hours MACD –
The MACD for XLM/USD is gaining momentum in bullish zone.
>4 hours RSI –
The RSI for XLM/USD is now above 50 level.
>Key Support Levels –
$0.0840 and$ 0 . 08 00.
>Key Resistance Levels –
$0 . 08 90 ,$ 0 . 09 00..
. Overall,the price could start a decent increase if it clears these levels.
• Novotel Bahrain Al Dana Resort – one of the most luxurious hotel spots in Manama, the capital of Bahrain in the Middle East – has announced it will be accepting crypto payments for items like room stays and other vacation staples.
• The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved.
• Novotel has signed an agreement with crypto firm Eazy Pay to accept digital payments.
Luxury Hotel in Bahrain Accepting Crypto Payments
The Novotel Bahrain Al Dana Resort – one of the most luxurious hotel spots in Manama, the capital of Bahrain in the Middle East – has announced it will be accepting crypto payments for items like room stays and other vacation staples. This move is pushing the goals of bitcoin and its digital counterparts closer to being achieved as a payment tool.
Novotel Signs Agreement with Crypto Firm Eazy Pay
Novotel has signed an agreement with crypto firm Eazy Pay to accept digital payments. The company will offer the luxury resort the technology it needs so that it can say „yes“ to assets like bitcoin, Ethereum, and others. Eazy Pay’s services are also supported by the Binance mobile app.
Crypto Arena Growing Quickly in Bahrain
Despite the terrible crash of 2022,the crypto arena appears to be growing like crazy in Bahrain. In December of last year, telecom operator STC Bahrain announced it would start accepting crypto payments for utilities and similar items. Last November, Carlton Real Estate in Bahrain also revealed they would begin taking crypto assets such as BTC and ETH as payment methods at their properties.
Volatility Makes Companies Reluctant
It is extremely hard to understand when bitcoin and its crypto family will go up or down when it comes to their prices which makes many stores and companies reluctant to say „yes“ when it comes to accepting them as payment options . Consider this scenario; someone walks into a store and buys $50 worth of merchandise with bitcoin but 24 hours later its value has dropped making what was once a $50 purchase now only worth $40 leaving store owners out of pocket from their initial transaction .
Push Towards Making Bitcoin Usable Tool
This is why enterprises like Novotel Bahrain Al Dana Resort are so important because they understand that initially these digital currencies were designed as payment tools not speculative or hedge-like investments as they have become today . With this new acceptance by Novotel , people can use their cryptocurrency assets more easily than ever before helping push towards making bitcoin an everyday usable tool .
• Cardano (ADA) price is trading in a bearish zone below the $0.355 support zone against the US Dollar.
• There are two bearish trend lines forming with resistance near $0.3400 and $0.3580 on the 4-hours chart (data feed via Kraken).
• ADA price could start a recovery wave if it clears the $0.340 and $0.355 resistance levels.
Cardano Price Analysis
Cardano (ADA) price is currently trading in a bearish zone below the $0.355 support zone against the US Dollar. The price has declined below both the $0.355 and $0.350 support levels, as well as below the 55 simple moving average (4-hour). There are two bearish trend lines forming with resistance near $0.3400 and $ 0.3580 on the 4-hours chart (data feed via Kraken). If ADA manages to clear these resistances, it could start a recovery wave towards key resistances at $ 0 .380 and beyond .
On the upside, an immediate resistance is near the $ 0 .345 zone which is close to 50% Fib retracement level of downward move from swing high at$ 0 .3699 to low at$ 0 .3210 . Further above this , there is also another significant resistance formed by two trendlines near$ 0 .3400 and$ 0 .3580 respectively, which have been preventing any further upward movement of ADA price since last few days .
Possible Upside Target
If ADA manages to break above both of these resistances , then it could open up room for more gains towards major resistances at$ 0 .378 and beyond . A clear upside break above$ 0 .3580 would be bullish for Cardano price in short term , signaling that bulls might take over again soon if buyers managed to regain control over market sentiment around this area of supply – demand balance point
< h2 > Immediate Support < / h2 > On downside , there is an immediate support near$ 0 .328 level followed by another major support at$
• Residents of Colorado have been targeted by crypto criminals, resulting in millions of dollars stolen from traders and everyday people.
• The FBI reported that the scams involve stable assets like Tether and USD Coin (USDC).
• Five recent examples were detailed in which victims lost more than $4 million to crypto scams.
Crypto Criminals Targeting Colorado Residents
Residents of Colorado have become major targets for crypto criminals according to a new report issued by the Federal Bureau of Investigation (FBI). Millions of dollars have been stolen from traders and normal, everyday residents in the Centennial State. Many of the scams involve stable assets such as Tether and USD Coin (USDC).
How These Scams Work
The FBI reports that victims are approached on social media, dating apps or discussion forums with a cryptocurrency investment opportunity. Victims are directed to a link or phone number to set up an investment account, however this is controlled by fraudsters who set up fictitious support sites. Once funds are transferred, the fraudster disappears with the money.
Recent Examples From Colorado
The FBI has detailed as many as five recent examples of Colorado residents being targeted. Altogether, they lost more than $4 million to crypto scams involving Tether. This included over $600K from a 52-year-old man living in Aurora; about $1.3 million from a 61-year-old woman in Denver; $350K from a 62-year-old man in Evergreen; and $1.2 million from a pair in their late 40s in Parker.
Typical Scam Tactics
In most cases, scammers come forward posing as investment managers offering brand new investment opportunities that can’t be missed out on. Victims are then directed to phony websites under the control of scammers or hackers where profits appear rising and portfolios look promising at first glance. After investing some money initially, victims find they cannot make withdrawals unless further investments are made – after which point all funds disappear for good.
Advice From The FBI
The FBI has warned those looking to invest in cryptocurrencies to take caution and only use legitimate services when making transactions: “The advice and offers to help you invest in cryptocurrency are nothing but scams” said an official statement “If you send them crypto, or money of any kind – it’ll be gone, and you typically won’t get it back“.