NEAR analysis:

Price has rebounded from the support area, indicating a potential upward movement. Consider opening a long position near the support area with a tight stop loss.

Support Area: $5.80-$6.15

Resistance Area: $8.00-$8.50

Bitcoin once again tested the $70,000 level and was rejected. The price dropped after the FOMC meeting. The support levels remain the same, and a possible test of the support area is likely.

SOL moved toward the local resistance area but was rejected from there. The price is now moving towards the support trendline. You can consider opening a small long position at the support area with a tight stop loss.

Support Area: $145-$147

GALA currently trades at the support area, presenting an opportunity to accumulate with a tight stop loss. There might be some accumulation before the next move.

Support Area: $0.0337-$0.0364

Resistance Area: $0.050-$0.0525

Bitcoin miner balances have been steadily declining since late 2023, hitting multi-year lows as sell-offs increased after the April 2024 halving.

According to Glassnode data, balances dropped from 1.84 million BTC in early 2023 to 1.8 million $BTC by May 2024. This trend highlights miners' need to cover operational expenses following reduced block rewards.

NEO analysis:

The price has broken below a major support area and is currently trading below it. We might see a retest of this area. If the price cannot break above this level, then we could expect a continuation of the downtrend towards the lower support area. It's advisable to wait for some time before considering new entries.

Support Area: $9.80-$10.40

Resistance Area: $13.80-$14.65

Nothing has changed in the market, and Bitcoin is once again moving sideways. We still expect a test of the $64,500-$65,000 support area before the next move. Have some spare USDT to buy the dip.

ETH broke below the support area and also retested it. The price is finding support around the $3420 level. ETH dropped due to BTC volatility, but we may see a quick recovery once BTC stabilizes in a range.

On June 11, exchanges recorded the largest cumulative outflow of BTC for the month, according to Glassnode data. This significant movement suggests growing confidence among investors and a potential shift towards long-term holding strategies.

Wallet Maintenance for BNB Smart Chain (BEP20) - 2024-06-17
https://www.binance.com/en/support/announcement/153d3ec2872f4ab48d46a6b8cf3e19d8

TAO analysis:

Price is currently trading within a significant downtrend channel on the daily timeframe. As of now, there are no indications of strength. A candle closing below $300 would be considered bearish and likely trigger more selling pressure. Try to grab some around the support area.

Support Area $280-$290

Finally, Bitcoin has dropped to the support area and grabbed liquidity. The price bounced from the support area and is now moving upward. We may see some sideways movement below the $67,000 resistance level for the next 2-3 days.

The altcoin market cap (TOTAL2) tested the trendline support and bounced from there, as expected. We already suggested accumulating some altcoins during the dip. A bounce in altcoins may occur when BTC stabilizes.

The rally in Bitcoin is just getting started, and it's looking incredibly promising! According to Glassnode's BTC charts, the current phase (in black) of development since the last halving shows slow upward rally.

Historically, we could be entering the euphoria phase in the next few months.

Educational Post

What Is Cold Storage?

Cold storage is when you keep your digital assets offline to make sure they are safe from hackers. In fact, what you keep offline are the private keys, not the assets. Private keys are cryptographic keys that grant access to your cryptocurrency holdings. Unlike hot wallets, which are connected to the internet and susceptible to online vulnerabilities, cold storage methods keep your private keys offline at all times.

How Does Cold Storage Work?

There are different ways to isolate your private keys from online exposure, including hardware wallets, paper wallets, and air-gapped systems.

Hardware wallets

Hardware wallets are physical devices designed to securely store private keys. These devices often resemble USB drives and offer an additional layer of protection through encryption and PIN authentication. By generating and storing keys offline, hardware wallets ensure that access to funds remains restricted from online threats.

Paper wallets

Paper wallets involve printing or writing down private keys on paper. These physical copies can be stored in a secure location, such as a safe or vault. Paper wallets are considered cold storage since the keys are entirely offline, reducing the risk of cyber attacks.

Paper wallets were popular in the early days of Bitcoin but are now discouraged due to risks. Paper is fragile and can be easily damaged. There are also concerns related to using a potentially infected computer or printer.

Another risk is the misconception that funds can be sent multiple times from the same address. When sending funds from a paper wallet, you must send the entire balance to avoid losses.

CKB Analysis:

CKB recently broke through a major support area and is currently retesting it. If the price fails to break above this retested level, we could see a continuation of the downtrend towards the next support area. It's advisable to wait before opening new positions to see how the price action develops.

Support Area: $0.000948-$0.0103

Resistance Area: $0.014-$0.015