Venomex Limited

01/08/2023

📢 Exciting News! 🎉
We are thrilled to announce that we are embarking on an amazing journey to update VenomEx!🌟

As we take this brief pause to work behind the scenes, rest assured that we'll be back better, faster, safer and stronger than ever.
We can't wait to unveil the new and improved VenomEx!

Stay tuned for updates, sneak peeks, and exciting announcements along the way. We couldn't do it without your continued support, and we are grateful to have you on this magical journey with us.

Thank you for being part of our community, and we'll see you soon! 🚀

27/07/2023

Venomex expresses condolences to the UAE and President HH Sheikh Mohamed bin Zayed Al Nahyan on the passing of his brother, Sheikh Saeed bin Zayed Al Nahyan, representative of the ruler of Abu Dhabi.

28/06/2023

Venomex wishes everyone a blessed Eid Al Adha, a time for giving and sharing. Let us all come together and help those in need. May Allah accept our good deeds and reward us with His blessings.

15/06/2023

Crypto Market Watch

🎯 ( ) has maintained a stable performance in the past week, staying above the $25.8k mark and below the 21 EMA on the daily chart. It's important to note that Bitcoin is still above the moving average on the weekly chart and is using it as a support level The premier virtual asset has been in price decline on a larger time frame since early April 2023, eliciting market fear in the process, despite the decreasing volatility in the recent period.

🎯 (MANA) recently experienced a significant drop in its market value, reaching the same price range as it was in December 2022 and beginning January 2023. It's worth mentioning that this price range was followed by a substantial increase in value, with the token's price doubling by the end of January. Before this recent drop, the metaverse token had been facing resistance at the 21 daily EMA, forming a prolonged price channel in the process. Now, investors are closely observing whether the current level will serve as a new support level for the token or if Decentraland will continue to decline soon.

🎯 Similarly, ( ) experienced a price decrease in the past week, with its candlestick shadow dipping below the $0.055 price level. However, it has managed to find support above the $0.06 level in recent days. The current prices for the asset are the lowest for the premier meme coin since October 2022, and comes on the back of a fall from the 21 daily EMA, which it held as resistance. Currently, Dogecoin is quite far from the same level on the weekly chart, and it's uncertain whether it will remain at these prices in the coming weeks.

🎯 (AAVE) has also seen a decline in its price, dropping below the important $50 level in the past week. Despite facing resistance at the 21 EMA on the daily chart for a significant period, Aave eventually broke its previous pattern and experienced a substantial fall, reaching prices similar to those seen in December 2022 and January 2023. Currently, it is at a market bottom when considering the bigger picture, and it appears to be oversold on larger timeframes. It is crucial for Aave to maintain its position at this price level, as it will greatly impact the medium and possibly long-term price prospects for this finance ( ) platform token.

Stay tuned for weekly updates on the and performance of major and .

31/05/2023

Crypto Market Watch

🎯 ( ) rallied over the past week after falling to the $26k support level. The is now attempting to hold on to the 21 daily EMA as support. Market sentiment remains neutral, but the constant battles with the 21 EMA on the 1h and 4h time frames serve as evidence of the market dominance of derivatives traders in the current period. Significantly, Bitcoin continues to remain above the 21 weekly EMA, which remains a critical level on the macro time frame.

🎯 (SOL) has continued to hold the 21 weekly EMA as resistance and has been tussling with this important level since January of this year. It also seems to be holding the same level on the daily chart as support, for the first time in May. After its price rise in January, it appears to be forming an extended accumulation pattern in the market, while a breakout would only be confirmed if it exits the $20-26 price channel.

🎯 In recent weeks, ( ) has fallen below the 21 EMA on the weekly chart and has held it as resistance. It has managed to hold support over the $0.85 price level, after registering lower highs and lower lows on the daily chart during a downtrend that began in February this year. It has previously attempted to reclaim support over the 21 daily EMA without achieving it, and it is currently bidding to do the same. Traders and investors would be attentive to any potential success in its current endeavour.

🎯 ( ) has maintained its market structure on the macro time frame, despite breaking below the 21 EMA on the weekly chart and holding it as resistance. It has established recent support over the $6.25 price level, and should the bulls gain momentum, they would be targeting the 200 daily MA, which represents a critical level for the decentralized blockchain oracle network in the charts.

Stay tuned for weekly updates on the and performance of major and .

16/05/2023

Market Watch

🎯 ( ) over the past week, has continued to consolidate and distribute, printing six successive red candles on the daily charts. The price has been bouncing around between two important levels: $27k, which has been a strong support level, and $29.7k, which has been a tough resistance level to break through. The price volatility has actually gone down a bit in the last month with the derivative traders dominating the cryptocurrency market, which overall has had a neutral sentiment. To give you an idea of how investors are feeling, the Crypto Fear & Greed Index is at 50 as of May 15, 2023. So, while there have been some ups and downs, things seem to be settling down a bit for Bitcoin lately.

🎯 ( ) has found strong support around the $1,800 mark while also demonstrating a distributive manner over the past few weeks. In terms of technical indicators, Ethereum has dropped quite a bit below the 200 MA the 4-hour chart in the past week. It's been a bit of a tussle with the 21 EMA on the same time frame. On a brighter note, when we look at the weekly chart, Ethereum has managed to hold onto the 21 EMA as support, which is a positive sign. Investors will be observant on whether Ethereum can successfully reclaim the 21 EMA on the daily time frame.

🎯 A couple of weeks ago, ( ) experienced a downward movement and slipped below the 21 EMA on the daily chart. Interestingly, that level has now turned from a support level into a resistance level. During this downtrend trend XRP also broke below the $0.44 price support and is currently holding it as resistance. Furthermore, it has fallen below the 21 weekly EMA, confirming its bearish bias in the mid-term. Yet, the payments network token is still forming solid market structure on the macro time frame, as it continues to operate within the $0.30-0.58 price range.

🎯 ( ) printed a Dragonfly Doji candle on the weekly chart, which could be a signal for a potential bullish reversal in the near term. However, LTC is still having a bit of a tussle with the 21-week EMA as well as encountering resistance at the same level on the daily time frame. Litecoin's price behavior seems to be mirroring that of Bitcoin, and it's also in line with the overall consolidatory behavior of the altcoin market. Despite the challenges, LTC has been forming a healthy market structure, showing stability, and staying within the price range of $70 to $102.

Stay tuned for weekly updates on the and performance of major and .

12/05/2023

market watch

🎯 In April, the use of hit a new record high of 77.6%, while the volume of spot trading fell by a whopping 40.2%. The drop in spot was much steeper than the 23.3% decline in derivative trading volumes, demonstrating the dynamic and volatile nature of the cryptocurrency market. However, despite the fluctuations, it is noteworthy that the consolidation of the price in the $26.6k-31k range resulted in the exit of spot buyers and the dominance of derivative traders in the market.

🎯 In , the approved a new called the National Blockchain Policy, which is designed to help the country's grow by using and . This could make electronic and transactions more transparent and efficient, leading to a stronger economy and better living standards for Nigerians.

🎯 Over in China, a new organization called the National Blockchain Technology Innovation Center is helping to train half a million people in distributed ledger technologies. This is part of the government's plan in partnership with key local stakeholders, including and to promote blockchain technology in , and to develop a Central digital which is set to have a significant use case in China’s Belt and Road Initiative.

09/05/2023

Crypto Market Watch

🎯 Bitcoin has been following a consistent pattern lately and managing to stay above the $27k support level and 200 MA on the weekly chart. However, on the 4h chart, it's struggling to break through the 21 EMA and 200 MA, indicating that it's in a consolidating phase. Despite this, the overall market structure for Bitcoin is looking good, with low trading volumes due to derivatives traders dominating the market currently.

🎯 Solana (SOL) has continued to consolidate over the past several weeks, operating in the $20-26 price region. It's been trying to break through the 21 EMA on the daily chart, but it's been a bit of a struggle. However, it did manage to successfully break through the 200 daily MA and turn it into a support level. On the weekly chart, SOL has been trying to break above the 21 EMA but hasn't been able to hold it as support yet. Despite having strong support levels at $20 and $21, any bullish momentum in the market has proven to be short-lived in recent months.

🎯 Polygon (MATIC) is currently facing some challenges in the crypto market. It recently broke through the support zone of $0.95-0.96 after consolidating for two weeks. This happened following a price drop from the mid-April 2023 level of $1.17, which caused it to fall below both the $1 psychological level and the 200 daily MA. If the bearish trend continues, we could see a further drop to the $0.80 price, which represents the next support level for Polygon.

🎯 Chainlink (LINK) experienced a significant price rally in mid-April 2023, reaching almost $9 per token. However, things took a bearish turn the next day when a bearish engulfing candle formed on the daily chart, causing the price to fall to the 200 daily MA and beyond. Additionally, the price also dropped below the 21 weekly EMA after a bearish engulfing candle formed on the weekly chart in mid-April, which turned the EMA into a resistance level. Traders and investors are now keeping a close eye on whether the price will drop to the bottom of Chainlink's long-term price channel. However, there's still a chance for a sharp upward reversal to occur, and we'll be watching closely for any signs of that happening.

Stay tuned for weekly updates on the and performance of major and .

02/05/2023

Crypto Market Watch

🎯 ( ) hit a peak of $31k in mid-April 2023, but since then it has encountered selling pressure and formed a lower high. It has struggled to regain its previous upward momentum and has been repeatedly testing the 21 EMA on the daily chart, without being able to hold it as steady support. Nonetheless, Bitcoin is still trading above the 200 MA on the daily chart, despite a recent bearish signal on the weekly chart that has contributed to the current slowdown in its upward movement.

🎯 's (MANA) decline has persisted over the past few weeks, with the price nearing the $0.50 support level. This came after a bearish weekly engulfing candle was formed in the middle of last month. Currently, the is encountering resistance at the 21 EMA on the weekly chart, and has already fallen below the 200 daily MA. This suggests that the outlook for the leading metaverse token may be bearish, as it struggled to hold the 200 daily MA as support before it became resistance.

🎯 In April 2023, ( ) displayed a double top pattern on the daily chart, which caused it to drop below the 200 daily MA. The cryptocurrency is currently experiencing resistance at this level, while trading above the $0.0778 support level. On the weekly chart, DOGE formed a bearish engulfing candle and also broke below the 200 MA, underscoring its volatile market behavior in recent times. If the current support level is breached, it could result in further market decline, with the next support level at $0.0731 potentially coming into play.

🎯 Aave (AAVE) has engaged in constant battle with the 200 daily MA in recent weeks. It recently fell through this level and is holding it as resistance, while operating over the $68-69 support zone. It had undergone a significant prior price decline, falling from the $82 price level to the current level in a matter of days, before consolidating. Its heavy drop followed a brief distribution period in mid-April 2023, and now traders and investors will be observant as to whether a further price fall towards the $50-55 price area could be in play.

Stay tuned for weekly updates on the and performance of major and .

21/04/2023

Venomex wishes Eid Mubarak to you and your family!
May this Eid be a reminder for all of us to continue living our lives with kindness, compassion, and generosity towards others. May Allah accept all of our good deeds, forgive our sins, and grant us the blessings of this beautiful occasion.

18/04/2023

Crypto Market Watch

🎯 's ( ) price has gone up a lot in the last week and broke through an important resistance zone at $28.5-29.5k, which is now acting as support. This is the highest price for since June 2022. The price is being supported by the 21 daily EMA, and the market is looking good. Recently, the price has been distributed on the 4h time frame while reaching a local peak at $31k per coin, with derivatives traders taking control in the short term.

🎯 The price of ( ) went up a lot from April 10th to April 16th, increasing by almost $300 and reaching $2,140 per coin. This is a 15% increase and the highest price for Ethereum since May 2022. It also broke through and stayed above the important resistance level at $2,000. Long-term investors are watching the monthly chart closely, as if closes at these higher price levels, it will print a monthly candle above the 21 EMA for the first time since April last year. In the context of a market cycle, this would be a major milestone.

🎯 Similarly, ( ) is looking to close above the 21 EMA on the monthly chart, after posting solid gains over the past several days. While holding the 21 daily EMA as support, the veteran altcoin rose from $90 on April 10, 2023, to over $102 per coin, a 13% increase. It is currently holding the 200 MA on the weekly chart as resistance, after doing the same in January and February of this year. There is significant confluence between this resistance and the $100 psychological level, and a break above it would present significant potential in the market.

🎯 After reaching the $0.58 level at the end of March 2023, ( ) proceeded to consolidate while tussling with the 21 EMA on the 4h chart. It has still managed to stay above the 21 daily EMA in this period. Even more significantly, it has held the 200 MA as support on the weekly chart. Having closed above the 21 monthly EMA in March 2023, traders and investors will anxiously look to see whether it will be successful in holding this level as support in the medium term, since doing so will have significant implications regarding any potential bullish move to follow in the market.

Stay tuned for weekly updates on the and performance of major and .

14/04/2023

Crypto Market Watch

📌The market for ( ) in the and Africa is rapidly expanding, having reached a total market size of more than $3.4 billion in 2022, representing a substantial year-on-year growth of 48.3%.
📌The increase in NFT trading and transaction value and volume in the UAE, can be attributed to the emergence of NFT , including crypto exchanges and startups, which have been established over the past year.
📌In Saudi Arabia, the Ministry of Culture has partnered with Sotheby's and the Visual Arts Commission to launch a art forum dedicated to NFTs.
📌In Egypt, the Sphynx Cats project has amassed a collection of 9,099 NFTs inspired by the history of Ancient Egypt.
📌The UAE is pursuing a new digital currency strategy aimed at promoting financial inclusion and boosting trading and transaction volume, with its proposed Central Bank Digital Currency, the Digital Dirham, being developed in partnership with G42 Cloud and R3, a New York-based blockchain company.

Know more about the MENA non-fungible token market - http://bit.ly/3zVGjRk

Thanks Islamic Finance News for the feature.

The non-fungible token (NFT) market in the Middle East and Africa continues to grow, recording a huge annual increase of 48.3% in 2022 and reaching over US$3.4 billion in total market size. It is e…