Bitcoin (BTC): Key Levels

BTC/USDT has gained 0.87% over the last 24 hours and is currently trading at $91,933. If the upward trend persists, the next resistance zones are at $91,800 and $93,200. Support levels are observed at $89,000 and $86,000, which could stabilize the price during pullbacks.

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Ethereum (ETH): ETH/USDT has risen 0.18% in the past 24 hours, trading at $3,130. Resistance levels lie at $3,140 and $3,220, while supports are at $3,060 and $2,090.

Sui (SUI): SUI/USDT shows a 0.47% increase, currently priced at $3.80. Resistance zones are identified at $3.88 and its ATH levels, while supports rest at $3.50 and $3.25 for deeper corrections.

Perpetual Protocol (PERP): PERP/USDT has gained 0.66%, now trading at $0.76. Resistance levels include $0.77 and $0.86, with supports at $0.71 and $0.66.

Ondo (ONDO): ONDO/USDT has seen a strong 8.91% rise, trading at $1.05. Resistance is found at $1.10 and $1.35, while support levels are at $0.92 and $0.82.

Trending Coins:

• Evercraft Ecotechnologies (ECET)
• Hedera (HBAR)
• MANTRA (OM)

Top Gainers:

• Tezos (XTZ)
• Hedera (HBAR)
• Comedian (BAN)

Top Losers:

• Fartcoin (FARTCOIN)
• Department Of Government Efficiency (DOGE)
• michi ($MICHI)

Bitcoin Liquidation Map

In the 12-hour liquidation chart, a significant liquidation zone of $52.43M is observed at the $92,700 level on the upper side. On the lower side, $50.5M liquidation appears at $90,175.

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Trending Coins

Bitcoin Liquidation Map

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Bitcoin again exceeded $52,000 and if we want to see the rising scenario, we need to see closings above 52,800$. Closing above 52.800$ will take us up to 57,000$. Our falling scenario will be activated if there are 4-hour closings below 51,600$.

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Bitcoin(BTC): BTC/USDT parity increased by 0.41% in the last 24 hours, trading at $52,390. The resistance levels for BTC are first 52,400$, then 54,700$. The support levels are 51,300$ and if below this region, it is 50,000$.

Ethereum(ETH): ETH/USDT parity increased by 1.36% in the last 24 hours, trading at 2,922$. The first resistance level for ETH is 2,975$, then 3,060$. The support levels are 2,710$, then 2,615$.

Optimism(OP): OP/USDT parity has increased by 2.64% in the last 24 hours, trading at 3.90$. The first resistance level for OP is 3.96$, then 4.20$. The support levels are 3.69$, then 3.52$.

Render(RNDR): RNDR/USDT parity increased by 4.20% in the last 24 hours, trading at 6.12$. The first resistance level for RNDR is 6.20$, then 6.81$. The support levels are 5.60$, then 5.20$.

Perpetual Protocol(PERP): PERP/USDT parity increased by 4.15% in the last 24 hours, trading at 1.29$. The first resistance level for PERP is 1.31$, then 1.38$. The support levels are 1.17$, then 1.08$.

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Bitcoin has recovered from its recent fall and is now back above $43,000. A significant resistance level for Bitcoin is currently set at $43,600. If this level is broken with volume and a close above is seen, we can say that Bitcoin may head towards the $45,000 level and above. However, it may be premature to talk about a bullish scenario before this level is broken.

Bitcoin and Cryptocurrencies Update! – February 2

• Bitcoin (BTC): The BTC/USDT pair has gained 0.21% in the last 24 hours and is currently trading at $43,169. Resistance
• levels for BTC are first at $43,600 and then at $44,200. Support levels are at $42,800 and below that at $42,000.
• Ethereum (ETH): The ETH/USDT pair has gained 0.21% in the last 24 hours and is currently trading at $2,308. The first resistance level for ETH is at $2,285, followed by $2,375. Support levels are first at $2,175 and then at $1,960.
• Perpetual Protocol (PERP): The PERP/USDT pair has gained 4.16% in the last 24 hours and is currently trading at $1.13. Resistance levels for PERP are first at $1.19 and then at $1.23. Support levels are at $1.12 and then at $1.07.
• MultiversX (EGLD): The EGLD/USDT pair has gained 5.14% in the last 24 hours and is currently trading at $56.23. The first resistance level for EGLD is at $58.60, followed by $60.00. Support levels are first at $55.24 and then at $51.88.
• Dusk (DUSK): The DUSK/USD pair is currently trading at $0.26, up 7.26% at the time of writing. Resistance levels for DUSK are in the $0.28 – $0.295 range, while support levels are in the $0.263 – $0.244 range.

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Perpetual Protocol, founded by Yenwen Feng and Shao-Kang Lee in 2018, is a decentralized exchange that facilitates crypto trading with perpetual contracts on the Ethereum network and allows users to keep their transaction costs low thanks to the xDai technology.

Perp, the native token of Perpetual Protocol, an important project in the DeFi category, showed a performance of approximately 330% from September 2023 to today. Perp, which started the first week of 2024 with an increase, continues to delight investors.

Is the Perp Rally Starting Soon?

Perp experienced a pullback to $1.0328 after being rejected at the $1.72 level, the upper resistance point of the price range where it accumulated significantly on the weekly chart. Later, with Bitcoin continuing its upward movement, the price gained momentum again and approached the resistance area.

The price, which moved again with the pullback movement it made to the EQ (equilibrium) region of the daily range structure after receiving a rejection from the $1.72 resistance level, is currently trading at $1.47. It can be said that the price is positive as long as it does not lose the intermediate support region of $1.334.

If the upper resistance zone of $1.72 is broken with volume support and then, with the daily closings to come, this resistance level turns into an S&R Flip zone and turns into a support point, a rally is possible for $PERP.

The first area where profits can be taken is the $3.08 level, which is the area where the price may want to go as far as the channel length. Then, the $3.6 level catches the eye as an important resistance area that could hold the price. It is worth reminding that it is important to see high-volume closings and check the market structure before taking a trade.

The post Is a Perp Rally Coming Soon? Here Are Key Levels for Perp! appeared first on Coin Engineer.

Biconomy (BICO) offers the following solutions to overcome the difficulties in web3 infrastructures:

• Protocols can carry out user transactions without any Gas fee.
• Users can make Gas payments with any token they prefer in the ERC-20 standard.
• Complex blockchain structures caused by changes in the network are not reflected to the users.
• Transactions are confirmed much faster.

Biconomy can reduce transaction costs by up to 40% by focusing on transaction management and Gas fee optimization. To achieve this goal, the protocol enables users to make transactions without paying Gas by using meta transactions and does not need third-party service providers. Biconomy accomplishes these by a relay infrastructure that does not offer custody service and makes Gas usage more efficient.

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Who is the Founder of Biconomy?

Biconomy (BICO) is a blockchain initiative established by an international team. One of the founders of the project, Ahmed Al-Balaghi, is a graduate of Queen Mary University and has international experience in the blockchain sector, including China, the UK, and the United Arab Emirates. In the earlier stages of his career, he worked for the leading Chinese blockchain company Viewfin.

The other two founding partners are Sachin Tomar and Aniket Jindal, Indian blockchain entrepreneurs with a background in software engineering and who have previously worked on blockchain projects in the United Arab Emirates.

Big blockchain venture capital companies, such as Coinbase Ventures, Binance Launchpad, Mechanism Capital, and Huobi Ventures, actively support Biconomy.

Features That Make the Project Different

Biconomy (BICO) offers a unique solution to a problem frequently encountered in the blockchain space. Interaction with decentralized applications is generally more complex and costly compared to web2 applications, and there are several reasons for this. For example, while web3 applications may require Gas fees for transactions, web2 applications generally do not demand such a fee.

Users must pay gas fees on the Ethereum network with ETH, even if they do not wish to use Ether. Also, the use of web-based wallets may require some technical knowledge in matters such as transaction signing and spending Gas, which can make it difficult for new users to participate.

BICO is actively providing a relayer infrastructure network to address this problem, and various popular protocols are already utilizing this technology:

• Curve Finance uses Biconomy to offer meta BTC deposit management transactions without a Gas fee. This allows participants to use their idle BTC accumulations without paying a Gas fee for the purpose of swapping with RENBTC.
• Perpetual Protocol, thanks to Biconomy, carries out buying and selling transactions on the xDAI chain without a Gas fee. Users can also conduct secret blockchain transactions without needing to reconfigure their web-based wallets.
• Decentral Games offers users a seamless gaming experience by removing Gas fees through Biconomy. Users only transact with the in-game currency, and MATIC tokens may not be required in transactions on the Polygon blockchain where Decentral Games is present.
• Sapien Network serves as a social blog platform and makes it possible to transact without paying a Gas fee thanks to Biconomy. Blog writers can make SPN transactions on the platform for free.

Biconomy thus makes the web3 ecosystem more user-friendly by facilitating participation in decentralized applications.

Biconomy Technical Analysis

When we take a close look at the Biconomy (BICO) chart, it currently shows an increase of 32%. If Bico can consider the current price region of $0.2670 as support, it may continue to rise towards the interim resistance level of $0.3150. This could be a positive development for investors.

However, if Bico cannot solidify the support level of $0.2670 and if this rise is only temporary, we may see a decline towards lower levels such as $0.2220 in the future. Therefore, it is important to closely follow how the price addresses these support levels.

Technical analysis can be a guide to predicting future price movements, but it may not always provide definite results. Therefore, it is important to consider other factors when making investment decisions.

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