Day: November 13, 2018

Falling Wedge Indicates Interim Breakout Scenario

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Twitter Facebook LinkedIn Bitcoin on Tuesday extended its downward momentum, dropping 0.67-percent against the US Dollar. The BTC/USD trading pair opened the Asian trading session at 6288-fiat and attempted an upside correction to as high as 6309-fiat. The selling pressure around the 6309-level resumed the downtrend. As a result, the pair kept forming red candles for the rest of the Asian and European trading session. It is now trading at 6294-fiat. The macroeconomic view of the US Dollar posted bullish sentiment for the currency. But it is not looking the…

OKEx Adds Support for the Vietnamese Dong on Its Fiat-to-Crypto Platform

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Malta-based cryptocurrency exchange OKEx has added the Vietnamese Dong (VND) on its Customer-to-Customer (C2C) trading system, enabling Vietnamese customers to exchange their fiat currency for tokens on the platform. The C2C platform was created by OKEx in 2017 as a peer-to-peer platform where users can buy and sell cryptocurrencies using fiat currencies. OKEx’s Head of Operations Andy Cheung noted that the addition of the VND on the company’s fiat-to-token platform would drive the adoption of cryptocurrencies in Vietnam. “Vietnam is one of the most important blockchain hubs in Southeast Asia.…

XRP Posts 6% Gains as Japan and Brazil Adopt Ripple Tech for Payments

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Twitter Facebook LinkedIn Ripple’s XRP token has a posted a 6 percent profit to establish a fresh weekly high towards $0.534. The bullish behavior also got the coin close to replacing Etherum as the second-largest cryptocurrency by market cap. SOURCE: TRADINGVIEW.COM The XPR/USD value appreciated from 0.506-fiat to 0.535-fiat on Monday. The price action underwent a weak downside correction later. It found support at 0.516-fiat and is since hinting a further upside bias. The pair is now trading at 0.532-fiat, looking to reclaim the weekly high, followed by a breakout towards…

Bitcoin Back on the Defensive After Price Hits Two-Week Low

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Bitcoin’s (BTC) price dropped to two-week lows earlier today and could extend the decline to key support near $6,100, technical charts indicate. The leading cryptocurrency was teasing a bullish move 24-hours ago, having carved out a lower high of $6,270 along the support of the trendline connecting the Oct. 11 low and Oct. 31 low. The defense of the key trendline support was also backed by a bullish divergence of the MACD (moving average convergence divergence) histogram. Even so, BTC failed to pick up a bid, possibly due to sharp…

Smallcap Token Cobinhood (COB) Gains 14.26% in Wider Market Downturn

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Twitter Facebook LinkedIn The COBINHOOD token ‘COB’ has been reported across various sources such as CoinMarketCap as having appreciated significantly over the past 10-12 hours at the time of writing, when compared to the same trading values from the previous 24 hours. Current token value stands at $0.024001, a reported 6.81% increase in average trading price compared to the previous 24hrs. One Day Chart The highest price seen so far has been at 23:04:07 PM (UTC), where the coin rose to 0.027935 USD value from a low of 0.021245 at…

Free Money? Traders In Asia Are Buying Bitcoin Cash Ahead of Hard Fork

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With bitcoin cash (BCH) now looking certain to split into two competing cryptocurrencies, some traders in Asia are betting that the sum of the parts will be worth more than the whole. Specifically, these investors have been buying BCH in anticipation that Thursday’s contentious network software upgrade, or hard fork, will leave them owning two coins with a combined value greater than the current price. James Quinn, head of markets at Kenetic Capital, said even some institutions have gotten in on the act, as “the number of requests and interests…

Bitcoin Price Watch: BTC/USD Could Tumble Below $6,250

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Key Points Bitcoin price extended losses and traded to a new weekly low at $6,261 against the US Dollar. There is a major bearish trend line in place with resistance at $6,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is at a risk of more declines below the $6,275 and $6,260 support levels in the near term. Bitcoin price is currently in a downtrend below $6,350 against the US Dollar. BTC/USD could tumble once there is a break and close below the $6,250…

Ethereum Price Analysis: Close Below $206 Could Be Destructive for ETH/USD

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Key Highlights ETH price is facing a tough resistance near the $209.00 and $210.00 levels against the US Dollar. Yesterday’s highlighted major bearish trend line is intact with resistance at $209 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate declines if there is a close below the $206 support. Ethereum price is trading near key supports against the US Dollar and bitcoin. ETH/USD needs to climb above $209 and $210 to avoid a downside break. Ethereum Price Analysis Yesterday, we discussed an important support…

Bitcoin Price Bleeds to Low $6,300 as Investors Carefully Observe the Market

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Twitter Facebook LinkedIn Over the last 24 hours, the price of Bitcoin has fallen from around $6,400 to $6,300, recording two consecutive sell candles on its daily chart. Although the volume of Bitcoin remains above $4.4 billion, up more than 46 percent from earlier this month when the daily trading volume of the dominant cryptocurrency averaged at around $3 billion, BTC is struggling to sustain momentum in the mid-$6,000 region. In the short-term, it is highly likely for BTC to retest the $6,200 region unless it swiftly bounces above the…