#Glassnode Data

The Bitcoin  URPD shows +530K BTC (3.18% of supply) changed hands around the $22,400 price region.

This area is now the largest volume node, showing investor interest around key on-chain cost basis:
- Realized Price: $21,773
- LTH Realized Price: $22,722

XRP is moving up slowly from the support zone. If you opened long positions then increase your stop loss to breakeven price. The next resistance is the $0.40 area and a break above this is bullish.

ZIL is now testing the resistance zone. If ZIL is able to break and hold above the $0.48 level then we see an upward rally towards the $0.58-$0.61 area. Wait for a clear breakout for new entries. A rejection from here will send ZIL towards the support level.

EOS analysis:

EOS has rejected the resistance of the $1.40-$1.43 area. The support is $1.20-$1.22 area and we will see a test of this zone. You can place buy orders in this zone. This is no trade for EOS.

Bitcoin is trying to break the resistance line. A break above this resistance line will send us towards a $27,000 resistance level. There is not much resistance on the way. A break below $24,000 will bring some downtrend momentum towards the $22,500 support level. The overall market is bullish and good for new trades.

OP Analysis:

OP is taking support at the $1.36-$1.40 area and the downtrend line works as resistance. If OP is able to break and hold above $1.50 then we see a move towards the $1.66-$1.70 resistance area. If the support is broken then we see a dump towards the $1 area.

There is a new type of scam is going on in market. The scammers provide you the private key/seed phase of the wallet and ask for help. There is funds in the wallet and many of you will think that you can withdraw the funds. You need to transfer small amount of ETH (to cover the fees).

The scammers use smart contracts that will transfer all the ETH (you sent to cover the fee) to other address instantly. Every time you send ETH to this address the smart contract activated.

Don’t transfer any funds to these addresses and save your money.

Bitcoin is now trying to hold the $24,000 level and if unable to maintain this level, we see a downward movement towards the support area. There is nothing changing in the market and overall sentiments are bullish. Global markets have also shown positive movements in the last few days.

Educational Post:

What Are Blockchain Transaction Fees?

Transaction fees serve two essential purposes when it comes to blockchain networks. They reward miners or validators who help confirm transactions and help protect the network from spam attacks.

Transaction fees can be both small or large, depending on the network activity. Market forces can also influence the fees you pay. While high fees can hinder wider blockchain adoption, very low fees could potentially bring security concerns.

Why transaction fees?

Transaction fees are and have been an essential part of most blockchain systems since their inception. You are most likely to have come across them when sending, depositing, or withdrawing crypto.

The majority of cryptocurrencies use transaction fees for two important reasons. First of all, fees reduce the amount of spam on the network. It also makes large-scale spam attacks costly and expensive to implement. Secondly, transaction fees act as an incentive for users that help verify and validate transactions. Think of it as a reward for helping the network.

For most blockchains, transaction fees are reasonably cheap, but they can get quite expensive depending on network traffic. As a user, the amount you choose to pay in fees determines your transaction's priority in being added to the next block. The higher the fee paid, the quicker the confirmation process.

ETH is rejected from the major resistance level of $2000. The local support is $1850 and a break below this will send us towards $1700 area. The ETH 2.0 merge is likely to happen near 16 September and till then we see some strength in market.

DOT tested the support area and bounced from there. The resistance remains the same and we will see a move towards this resistance level. You can add some DOT near the $8.60-$8.75 area.

LTO/BTC
LTO Network has established itself as Europe’s leading blockchain with strong real-world usage.

Technically lying above strong support. RSI is in the oversold region. MACD is showing bullish momentum. It will pump hard from here. so now is the right time to build your position in it before breakout for massive profits😊

Targets: 493-575-685-795 satoshi

LTO/USDT lying above strong support. Stochastic is giving a buying signal. It will bounce hard from here. so now is the right time to build your position in it before breakout for massive profits😊

Targets: $0.1175-0.1575-0.2015-0.2565

SL: $0.0952

LTO/BTC massive breakout done, strong accumulation has been detected, now bulls are ready to send it to mars 🚀

FLOW analysis:

FLOW is slowly moving towards the support area of $2.52-$2.58 area. We will see a test of this support before the next move. The major resistance is the $3.10-$3.20 area and a break above this will start a new uptrend. If FLOW broke the $2.52 support then we see a dump towards the local support of $2.33-$2.35 area. The next major support area is $2.00-$2.08.

Bitcoin forming a rising wedge pattern and it is about to break. A rising wedge is a bearish pattern and usually breaks in a downward direction. A break in a downward direction will send BTC towards the support level. We will see a break of this structure by this weekend.

SOL uptrend channel is still valid and there is no breakout yet. If you added SOL near the $39-$40 support area the increase your stop loss to breakeven price and hold. The major resistance is the $50 area and a break above this will bring a good upside move.

OP broke the downtrend line and also retested it. We will see a move towards the resistance area in the coming days. If you opened a long position then use tight stop loss below the support level.

GALA Analysis :

GALA is being trending higher inside the uptrend channel pattern and hits out the major resistance at $0.069 - $0.072. Price rejected strongly and back to the trendline. It's a decisional point, so better wait for price to break the resistance.

As expected the raising wedge pattern broke in downward direction. The good thing is that BTC is holding above the support level. We may see a retest of support level in coming days. Plan your trades accordingly.

#Glassnode Data

Bitcoin  Relative Transfer Volume is dominated by large size transfers, with 63% of all on-chain volume being $10M+ in size.

This dynamic has continued to develop since mid-2020.