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Price Analysis 7/17: BTC, ETH, XRP, BCH, ADA, BSV, LINK, LTC, BNB, CRO

Price Analysis 7/17: BTC, ETH, XRP, BCH, ADA, BSV, LINK, LTC, BNB, CRO

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Bitcoin and a few altcoins are showing signs of weakness, which could result in a minor dip in the next few days.

Grayscale Investments recent Q2 report shows that the firm took in $905 million into Bitcoin (BTC) and other altcoins. In Q1 of this year, the inflow into various Grayscale products was $503.7 million. The sharp increase in investments indicates that the institutional investors are building positions when the price of the top-ranked asset on CoinMarketCap is stuck in a range as they expect it to rise in the future.

Daily cryptocurrency market performance. Source: Coin360

Daily cryptocurrency market performance. Source: Coin360

However, in the short-term, the U.S. Federal Reserve’s policy actions might dictate the next directional move. Although the economy is showing signs of recovery, several sectors are still struggling as coronavirus cases surge across the world. Therefore, investors are hopeful that the Fed will extend the current stimulus programs which are slated to end soon.

Any disappointment is likely to result in a sharp drop in the equity markets as investors rush to lock in their gains. As Bitcoin’s correlation with the S&P 500 is high, it could also follow suit and breakdown from its range. Such a move could also result in profit booking in the altcoins that have been outperforming Bitcoin for the past weeks. 

BTC/USD

Bitcoin (BTC) has been gradually giving up ground in the past few days and has now reached the trendline of the ascending triangle. If this support breaks down, it will invalidate the bullish pattern, which is a bearish sign.

BTC/USD daily chart. Source: TradingView

BTC/USD daily chart. Source: TradingView

If the price sustains below the trendline, the bears are likely to pounce on the opportunity and sink the BTC/USD pair to $8,638.79 and then to $8,130.58.

The bulls are likely to aggressively defend the $8,130.58 support, which could keep the pair range-bound for a few more days.

However, if the pair bounces off the trendline and rises above the moving averages, a rally to the $10,000–$10,500 zone is likely. Without momentum, the likelihood of bulls scaling above this zone is bleak.

Although the price action is still dull, the pair has been falling gradually for the past few days, which suggests that the bears are attempting to make a comeback. With the price trading below both moving averages and the relative strength index below the 50 level, the advantage might be slightly shifting in favor of the bears.

ETH/USD

Ether (ETH) broke below the moving averages on July 16, which is a negative sign. This increases the possibility of a fall to the support of the $216.006–$253.556 range. If the bulls defend the support at $216.006, the range-bound action is likely to continue.

ETH/USD daily chart. Source: TradingView​​​​​​​

ETH/USD daily chart. Source: TradingView

The 20-day exponential moving average ($236) has flattened out and the RSI has dipped just below the 50 level, which suggests a balance between the bulls and the bears.

If the bears sink the price below the support at $216.006, the second-ranked cryptocurrency on CoinMarketCap can decline to $178.506.

On the other hand, if the ETH/USD pair turns up from the current levels and breaks out of $253.556, a rally to $288.599 is likely. As the price is currently in the middle of the range, it is difficult to predict the direction of the next breakout.

XRP/USD

The bulls are attempting to keep XRP above the moving averages. If they succeed and push the price above $0.20, a rally to $0.214616 is possible. If this level is also crossed, the altcoin can move up to $0.235688.

XRP/USD daily chart. Source: TradingView​​​​​​​

XRP/USD daily chart. Source: TradingView

However, if the bears defend the resistance at $0.214616, the fourth-ranked cryptocurrency on CoinMarketCap could again drop to the moving averages and remain range-bound between these two levels for a few days.

If the bears can sustain the price below the moving averages, it can result in a drop to $0.17, which should act as a strong support but if the bears sink the price below it, the XRP/USD pair could start a new downtrend.

BCH/USD

Bitcoin Cash (BCH) dipped to the $217.55 support on July 16. The bulls are currently attempting to defend this support and if they succeed, the altcoin is likely to extend its stay inside the $217.55–$246 range for a few more days.

BCH/USD daily chart. Source: TradingView​​​​​​​

BCH/USD daily chart. Source: TradingView

The 20-day EMA ($231) has started to slope down and the RSI has dipped into the negative territory, which suggests that bears have a slight advantage. If the fifth-ranked cryptocurrency on CoinMarketCap breaks below $217.55, a retest of $200 is likely.

A break above $246 will be the first sign of strength that can result in a move to $260 and then to $280.47. On the other hand, a break below $200 can start a new downtrend.

ADA/USD

Cardano (ADA) remains in a strong uptrend and has formed a pennant, which is a continuation pattern. Both moving averages are sloping up and the RSI is in the positive territory, suggesting that bulls have the upper hand.

ADA/USD daily chart. Source: TradingView​​​​​​​

ADA/USD daily chart. Source: TradingView

If the bulls can drive the price above the pennant and $0.1380977, the uptrend is likely to resume. The first target objective is $0.173 and if that is scaled, the next target to watch out for is $0.20.

This bullish view will be invalidated if the sixth-ranked cryptocurrency on CoinMarketCap breaks below the pennant and the 20-day EMA ($0.113). Such a move will signal weakening momentum that could pull the ADA/USD pair to $0.10.

BSV/USD

Bitcoin SV (BSV) slipped below both moving averages on July 16 and is currently finding support at $170. However, the failure of the altcoin to bounce off this support increases the possibility of a break below it.

BSV/USD daily chart. Source: TradingView​​​​​​​

BSV/USD daily chart. Source: TradingView

If the $170 support cracks, the seventh-ranked cryptocurrency on CoinMarketCap can drop to the critical support at $146.20. Such a move will be a huge negative as it will suggest a lack of demand at higher levels.

However, if BSV/USD bounces off $170 and rises above the downtrend line, the bulls will again try to carry the price to $200.

LINK/USD

Chainlink (LINK) resumed its uptrend on July 15 as it broke above the resistance at $8.48, however, the up move stalled at $8.9080. The altcoin formed an inside day candlestick pattern on July 16 and has been trading in a smaller range today.

LINK/USD daily chart. Source: TradingView​​​​​​​

LINK/USD daily chart. Source: TradingView

Usually, the inside day candlestick pattern is considered as a continuation pattern, with the breakout happening in the direction of the prevailing trend.

If the bulls can push the price above $8.9080, the eighth-ranked cryptocurrency on CoinMarketCap can rally to the $10–$11 zone, which is likely to act as a stiff resistance.

This bullish momentum could weaken if the bears sink the price below $7.8309. Such a move could signal a deeper correction to $6.8221, which is the 50% Fibonacci retracement level of the most recent leg of the rally.

LTC/USD

Litecoin (LTC) has been trading inside the $39–$46 range for over a month. Currently, the price has dipped below both moving averages, which increases the possibility of a drop to the support of the range at $39.

LTC/USD daily chart. Source: TradingView​​​​​​​

LTC/USD daily chart. Source: TradingView

The bulls are likely to defend the $39 levels aggressively as this support has not been broken down convincingly since April 2. A strong bounce off this level will indicate that the range-bound action is likely to extend for a few more days.

However, if the bears sink the ninth-ranked cryptocurrency on CoinMarketCap below $39, a new downtrend is likely. Trading opportunities could present either on a strong bounce of $39 or on a breakout and close above $46. A new uptrend can be expected if the LTC/USD pair sustains above $51.

BNB/USD

Binance Coin (BNB) has been sustaining below the breakout level of $18.20 for the past few days, which suggests that the breakout on July 12 was a bull trap. The only solace is that the bulls have managed to defend the 20-day EMA ($17) on the way down.

BNB/USD daily chart. Source: TradingView​​​​​​​

BNB/USD daily chart. Source: TradingView

The bulls will again attempt to propel the price above the $18.20–$19 resistance zone. If they succeed, the tenth-ranked crypto-asset on CoinMarketCap is likely to rally to $21.50 and if this resistance is scaled, the next target to watch out for is $22.93.

However, if the price slips below the moving averages, the BNB/USD pair can correct to the trendline of the ascending triangle. The flattish moving averages and the RSI just above the midpoint suggests a range-bound action between the 50-day simple moving average ($16.70) and $18.20 for a few days.

CRO/USD

Crypto.com Coin (CRO) remains in an uptrend with both moving averages sloping higher and the RSI in the positive territory. However, the failure of the bulls to push the price above $0.146157 indicates profit booking at higher levels.

CRO/USD daily chart. Source: TradingView​​​​​​​

CRO/USD daily chart. Source: TradingView

The bears are now likely to sink the 11th-ranked cryptocurrency on CoinMarketCap towards the 20-day EMA ($0.135), which has acted as a strong support during previous corrections.

If the CRO/USD pair again takes support at the 20-day EMA, the bulls will try to resume the uptrend by propelling the price above $0.146157. Above this level, a rally to $0.15306 is possible.

However, if the bears break the 20-day EMA support, the pair can slide to the 50-day SMA ($0.119).

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

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Simple blood test could predict risk of long-term COVID-19 lung problems

UVA Health researchers have discovered a potential way to predict which patients with severe COVID-19 are likely to recover well and which are likely to…

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UVA Health researchers have discovered a potential way to predict which patients with severe COVID-19 are likely to recover well and which are likely to suffer “long-haul” lung problems. That finding could help doctors better personalize treatments for individual patients.

Credit: UVA Health

UVA Health researchers have discovered a potential way to predict which patients with severe COVID-19 are likely to recover well and which are likely to suffer “long-haul” lung problems. That finding could help doctors better personalize treatments for individual patients.

UVA’s new research also alleviates concerns that severe COVID-19 could trigger relentless, ongoing lung scarring akin to the chronic lung disease known as idiopathic pulmonary fibrosis, the researchers report. That type of continuing lung damage would mean that patients’ ability to breathe would continue to worsen over time.

“We are excited to find that people with long-haul COVID have an immune system that is totally different from people who have lung scarring that doesn’t stop,” said researcher Catherine A. Bonham, MD, a pulmonary and critical care expert who serves as scientific director of UVA Health’s Interstitial Lung Disease Program. “This offers hope that even patients with the worst COVID do not have progressive scarring of the lung that leads to death.”

Long-Haul COVID-19

Up to 30% of patients hospitalized with severe COVID-19 continue to suffer persistent symptoms months after recovering from the virus. Many of these patients develop lung scarring – some early on in their hospitalization, and others within six months of their initial illness, prior research has found. Bonham and her collaborators wanted to better understand why this scarring occurs, to determine if it is similar to progressive pulmonary fibrosis and to see if there is a way to identify patients at risk.

To do this, the researchers followed 16 UVA Health patients who had survived severe COVID-19. Fourteen had been hospitalized and placed on a ventilator. All continued to have trouble breathing and suffered fatigue and abnormal lung function at their first outpatient checkup.

After six months, the researchers found that the patients could be divided into two groups: One group’s lung health improved, prompting the researchers to label them “early resolvers,” while the other group, dubbed “late resolvers,” continued to suffer lung problems and pulmonary fibrosis. 

Looking at blood samples taken before the patients’ recovery began to diverge, the UVA team found that the late resolvers had significantly fewer immune cells known as monocytes circulating in their blood. These white blood cells play a critical role in our ability to fend off disease, and the cells were abnormally depleted in patients who continued to suffer lung problems compared both to those who recovered and healthy control subjects. 

Further, the decrease in monocytes correlated with the severity of the patients’ ongoing symptoms. That suggests that doctors may be able to use a simple blood test to identify patients likely to become long-haulers — and to improve their care.

“About half of the patients we examined still had lingering, bothersome symptoms and abnormal tests after six months,” Bonham said. “We were able to detect differences in their blood from the first visit, with fewer blood monocytes mapping to lower lung function.”

The researchers also wanted to determine if severe COVID-19 could cause progressive lung scarring as in idiopathic pulmonary fibrosis. They found that the two conditions had very different effects on immune cells, suggesting that even when the symptoms were similar, the underlying causes were very different. This held true even in patients with the most persistent long-haul COVID-19 symptoms. “Idiopathic pulmonary fibrosis is progressive and kills patients within three to five years,” Bonham said. “It was a relief to see that all our COVID patients, even those with long-haul symptoms, were not similar.”

Because of the small numbers of participants in UVA’s study, and because they were mostly male (for easier comparison with IPF, a disease that strikes mostly men), the researchers say larger, multi-center studies are needed to bear out the findings. But they are hopeful that their new discovery will provide doctors a useful tool to identify COVID-19 patients at risk for long-haul lung problems and help guide them to recovery.

“We are only beginning to understand the biology of how the immune system impacts pulmonary fibrosis,” Bonham said. “My team and I were humbled and grateful to work with the outstanding patients who made this study possible.” 

Findings Published

The researchers have published their findings in the scientific journal Frontiers in Immunology. The research team consisted of Grace C. Bingham, Lyndsey M. Muehling, Chaofan Li, Yong Huang, Shwu-Fan Ma, Daniel Abebayehu, Imre Noth, Jie Sun, Judith A. Woodfolk, Thomas H. Barker and Bonham. Noth disclosed that he has received personal fees from Boehringer Ingelheim, Genentech and Confo unrelated to the research project. In addition, he has a patent pending related to idiopathic pulmonary fibrosis. Bonham and all other members of the research team had no financial conflicts to disclose.

The UVA research was supported by the National Institutes of Health, grants R21 AI160334 and U01 AI125056; NIH’s National Heart, Lung and Blood Institute, grants 5K23HL143135-04 and UG3HL145266; UVA’s Engineering in Medicine Seed Fund; the UVA Global Infectious Diseases Institute’s COVID-19 Rapid Response; a UVA Robert R. Wagner Fellowship; and a Sture G. Olsson Fellowship in Engineering.

  

To keep up with the latest medical research news from UVA, subscribe to the Making of Medicine blog at http://makingofmedicine.virginia.edu.


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Looking Back At COVID’s Authoritarian Regimes

After having moved from Canada to the United States, partly to be wealthier and partly to be freer (those two are connected, by the way), I was shocked,…

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After having moved from Canada to the United States, partly to be wealthier and partly to be freer (those two are connected, by the way), I was shocked, in March 2020, when President Trump and most US governors imposed heavy restrictions on people’s freedom. The purpose, said Trump and his COVID-19 advisers, was to “flatten the curve”: shut down people’s mobility for two weeks so that hospitals could catch up with the expected demand from COVID patients. In her book Silent Invasion, Dr. Deborah Birx, the coordinator of the White House Coronavirus Task Force, admitted that she was scrambling during those two weeks to come up with a reason to extend the lockdowns for much longer. As she put it, “I didn’t have the numbers in front of me yet to make the case for extending it longer, but I had two weeks to get them.” In short, she chose the goal and then tried to find the data to justify the goal. This, by the way, was from someone who, along with her task force colleague Dr. Anthony Fauci, kept talking about the importance of the scientific method. By the end of April 2020, the term “flatten the curve” had all but disappeared from public discussion.

Now that we are four years past that awful time, it makes sense to look back and see whether those heavy restrictions on the lives of people of all ages made sense. I’ll save you the suspense. They didn’t. The damage to the economy was huge. Remember that “the economy” is not a term used to describe a big machine; it’s a shorthand for the trillions of interactions among hundreds of millions of people. The lockdowns and the subsequent federal spending ballooned the budget deficit and consequent federal debt. The effect on children’s learning, not just in school but outside of school, was huge. These effects will be with us for a long time. It’s not as if there wasn’t another way to go. The people who came up with the idea of lockdowns did so on the basis of abstract models that had not been tested. They ignored a model of human behavior, which I’ll call Hayekian, that is tested every day.

These are the opening two paragraphs of my latest Defining Ideas article, “Looking Back at COVID’s Authoritarian Regimes,” Defining Ideas, March 14, 2024.

Another excerpt:

That wasn’t the only uncertainty. My daughter Karen lived in San Francisco and made her living teaching Pilates. San Francisco mayor London Breed shut down all the gyms, and so there went my daughter’s business. (The good news was that she quickly got online and shifted many of her clients to virtual Pilates. But that’s another story.) We tried to see her every six weeks or so, whether that meant our driving up to San Fran or her driving down to Monterey. But were we allowed to drive to see her? In that first month and a half, we simply didn’t know.

Read the whole thing, which is longer than usual.

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The hostility Black women face in higher education carries dire consequences

9 Black women who were working on or recently earned their PhDs told a researcher they felt isolated and shut out.

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Isolation can make opportunities elusive. fotostorm via Getty Images

Isolated. Abused. Overworked.

These are the themes that emerged when I invited nine Black women to chronicle their professional experiences and relationships with colleagues as they earned their Ph.D.s at a public university in the Midwest. I featured their writings in the dissertation I wrote to get my Ph.D. in curriculum and instruction.

The women spoke of being silenced.

“It’s not just the beating me down that is hard,” one participant told me about constantly having her intelligence questioned. “It is the fact that it feels like I’m villainized and made out to be the problem for trying to advocate for myself.”

The women told me they did not feel like they belonged. They spoke of routinely being isolated by peers and potential mentors.

One participant told me she felt that peer community, faculty mentorship and cultural affinity spaces were lacking.

Because of the isolation, participants often felt that they were missing out on various opportunities, such as funding and opportunities to get their work published.

Participants also discussed the ways they felt they were duped into taking on more than their fair share of work.

“I realized I had been tricked into handling a two- to four-person job entirely by myself,” one participant said of her paid graduate position. “This happened just about a month before the pandemic occurred so it very quickly got swept under the rug.”

Why it matters

The hostility that Black women face in higher education can be hazardous to their health. The women in my study told me they were struggling with depression, had thought about suicide and felt physically ill when they had to go to campus.

Other studies have found similar outcomes. For instance, a 2020 study of 220 U.S. Black college women ages 18-48 found that even though being seen as a strong Black woman came with its benefits – such as being thought of as resilient, hardworking, independent and nurturing – it also came at a cost to their mental and physical health.

These kinds of experiences can take a toll on women’s bodies and can result in poor maternal health, cancer, shorter life expectancy and other symptoms that impair their ability to be well.

I believe my research takes on greater urgency in light of the recent death of Antoinette “Bonnie” Candia-Bailey, who was vice president of student affairs at Lincoln University. Before she died by suicide, she reportedly wrote that she felt she was suffering abuse and that the university wasn’t taking her mental health concerns seriously.

What other research is being done

Several anthologies examine the negative experiences that Black women experience in academia. They include education scholars Venus Evans-Winters and Bettina Love’s edited volume, “Black Feminism in Education,” which examines how Black women navigate what it means to be a scholar in a “white supremacist patriarchal society.” Gender and sexuality studies scholar Stephanie Evans analyzes the barriers that Black women faced in accessing higher education from 1850 to 1954. In “Black Women, Ivory Tower,” African American studies professor Jasmine Harris recounts her own traumatic experiences in the world of higher education.

What’s next

In addition to publishing the findings of my research study, I plan to continue exploring the depths of Black women’s experiences in academia, expanding my research to include undergraduate students, as well as faculty and staff.

I believe this research will strengthen this field of study and enable people who work in higher education to develop and implement more comprehensive solutions.

The Research Brief is a short take on interesting academic work.

Ebony Aya received funding from the Black Collective Foundation in 2022 to support the work of the Aya Collective.

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