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Today’s Cryptocurrency Headline
Aave has initiated a formal governance proposal to launch the decentralised stablecoin GHO on the Ethereum mainnet. The proposal aims to introduce GHO on the Ethereum network through the Aave V3 Facilitator and FlashMinter Facilitator. Voting for the proposal is expected to open soon, and if approved, Aave V3 users on Ethereum will be able to mint GHO using collateral.
BingX’s Bitcoin Chart
After last week’s weekly candlestick closure, the situation for BTC was not as negative as previously anticipated. The overall market is still within a short-term range-bound consolidation phase. Looking at the current daily chart, a clear signal for a trend reversal is expected this week. Considering both data and technical analysis, the short-term strong support level for BTC is around $29,500. On the 4-hour timeframe, the market is still oscillating within a consolidation pattern.
There are two possibilities:
1) BTC breaks above the $31,500 high, indicating a continuation of the upward trend on the 4-hour chart.
2) BTC breaks below the $29,500 low, confirming a downward trend on the 4-hour chart.
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