Bitcoin is looking likely to retest the $7,200 resistance level for the second time this week, as buyer confidence grows in the market today. This breakout will be vitally important for the #1 cryptocurrency by market cap, as it oscillates within dangerous territory near the critical $6,000 support beneath. BTC/USD has been a shadow of its former glory in Q1 this year, declining ever since BTC futures trading debuted on the Chicago Mercantile Exchange late last year. For 4 months the BTC market has struggled to keep its head above water after flurries of bad media press, restrictive regulation and...
Key Highlights ADA price faced a strong selling interest near $0.2240 and declined against the US Dollar (tethered). There was a break below a crucial ascending channel with support at $0.2060 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is currently holding the $0.180 support level, but it remains at a risk of more declines. Cardano price is showing a few bearish signs against the US Dollar and Bitcoin. ADA/USD could continue to move down if it breaks the $0.1800 support level Cardano Price Downside Break There was a decent upside earlier this week above $0.1800...
Welcome to this updated analysis on Ethereum! Let's get right to it! Looking at the four-hour chart, you can see that we're zoomed into the right shoulder of the large head and shoulders pattern on the chart. This is because we have an interesting development that is emerging right now. As you can see, ETH has rallied with the rest of the crypto space, and it is actually trading slightly above the neckline resistance (in red.) Now that we're back inside of the right shoulder, we could see a continuation into higher resistance levels, such as the 50 EMA (in orange) and then the...
Key Points Bitcoin price is under heavy selling pressure as it tumbled below the $8,000 support against the US Dollar. There is a crucial contracting triangle forming with support at $7,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair may extend the current decline and it could even break the $7,400 and $7,000 support levels. Bitcoin price is poised to extend declines below $7,000 against the US Dollar. BTC/USD’s correction towards the $8,000 and $8,500 levels are likely to be capped. Bitcoin Price Bearish Trend There was hardly any relief for bitcoin price as it failed...
Key Highlights ETH price was under immense bearish pressure and it declined below the $560 support against the US Dollar. There is a major bearish trend line forming with resistance at $575 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair may continue to slide and it could even break the $500 level in the near term. Ethereum price declined sharply during the past few days against the US Dollar and Bitcoin. ETH/USD could continue to move down below the $500 level. Ethereum Price Decline This past week, a major downside move was initiated from the $750 swing high...
Key Highlights Ripple price is under a lot of pressure as it moved below the $0.7000 support against the US dollar. This week’s highlighted monster contracting triangle pattern with support near $0.7500 was broken on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently trading above the $0.6000 level, but it remains at a risk of more losses. Ripple price fell sharply against the US Dollar and Bitcoin. XRP/USD could extend declines in the near term as long as it is below the $0.7000 level. Ripple Price Resistance Buyers failed to initiate an...
Litecoin price recovered nicely from the $160 swing low against the US Dollar. LTC/USD is currently trading in a range above the $180 support. Key Talking Points Litecoin price succeeded in holding losses below $155 and recovered (Data feed of Kraken) against the US Dollar. There is a key bullish trend line forming with support at $181 on the hourly chart of the LTC/USD pair. The pair must break the $192-195 resistance area to continue its upside move. Sponsored Litecoin Price Forecast After a major decline, there was a decent support formed near $160 in litecoin price against the US...
Key Highlights Ripple price formed a nice support around $0.7400 and moved a few points higher against the US dollar. There is a major connecting bearish trend line forming with resistance at $0.8300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must break $0.8300 and $0.8400 resistance for further upsides in the near term. Ripple price is slowly gaining pace against the US Dollar and Bitcoin. XRP/USD must break the $0.8400 hurdle to set the pace for more gains. Sponsored Ripple Price Resistance After a major decline, there was a strong buying interest...
Why the Monero Coin Price Is Surging On a day when the broader crypto market was drenched in red, the Monero price chart was showing green candlesticks. The XMR coin price is riding a tailwind that helped it thwart Wednesday’s marketwide correction. In fact, Monero has turned out to be one of the few cryptocurrencies that has managed to recoup most of its losses post the February crypto market crash. Take a look at the Monero chart below and see how its past one-month performance stacks up against industry leader Bitcoin and its biggest rival ZCash. Monero conspicuously stands out...
IOTA broke down from a symmetrical triangle chart formation to signal that bearish pressure is picking up. The chart pattern spans 1.2000 to 2.6000 so the resulting selloff could be of the same height. The 100 SMA is above the longer-term 200 SMA to signal that the path of least resistance is to the upside. However, the gap is pretty narrow so a downward crossover could still ensue and draw more sellers in. Sponsored Stochastic is on the move down to show that selling pressure is present. RSI is also heading south but is dipping into oversold levels to indicate...
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