Category: Analysis

Ethereum Corrects Rally, But 100 SMA Could Spark Fresh Increase

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Ethereum climbed further above the $2,500 level against the US Dollar. ETH price is correcting gains, but it is likely to remain stable near $2,350 and the 100 hourly SMA. Ethereum gained pace above $2,500 and it traded to a new all-time high near USD 2,548. The price is now trading well above $2,400 and the 100 hourly simple moving average. There is a key rising channel forming with support near $2,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to resume its rise…

Bitcoin Consolidates, Here’s Why BTC Could Surge Above $64K

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Bitcoin price started a downside correction from the $54,900 zone against the US Dollar. BTC is now consolidating and it could start a fresh increase if it clears $54,900 Bitcoin is showing positive signs above the $62,500 and $62,000 levels. The price is now trading well above the $62,000 level and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $63,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to start a fresh rally if…

How The COIN Listing Could Culminate Bitcoin Rally

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Bitcoin price (BTC) is down $2,000 from yesterday’s high set right around the time that Coinbase Global (COIN) went live on Nasdaq. The price action frighteningly mimics a fractal flashback from the CME futures launch that put the top in around late 2017 and started the bear market in cryptocurrencies. Is this just crypto winter PTSD, or is a launch of this magnitude the perfect sell the news event? Then And Now: CME Futures Versus Coinbase Global Debut On Nasdaq Rewind back to 2017. Few then knew what a cryptocurrency…

Ethereum Outperforms Bitcoin, Why Bulls Could Aim $2,500 or Higher

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Ethereum extended its rally to a new all-time high near $2,450 against the US Dollar. ETH price is now consolidating gains, with high chances of more gains above the $2,450 level. Ethereum traded above $2,400 and topped near the $2,450 level. The price is now trading well above $2,400 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $2,370 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher towards the $2,480 and $2,500…

Bitcoin Trims Gains, But Here’s How BTC Could Rise Again

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Bitcoin price traded to a new all-time high near $64,892 before correcting lower against the US Dollar. BTC tested the $61,500 level and it is now showing a few positive signs. Bitcoin climbed further above the $63,000 and $64,000 resistance levels. The price is now trading well above the $62,000 level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $61,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to start a fresh…

Bitcoin, Coinbase Crypto Euphoria Is Blind To Potential Dollar Reversal

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Today is the day everyone in crypto has been waiting for: popular Bitcoin exchange Coinbase has been publicly listed on the stock market for the first time ever. The entire industry is buzzing, still euphoric from the months of nothing but green candles. However, the euphoria could be blinding market participants to the fact that the dollar could potentially be ready to reverse. Crypto Market Celebrates Coinbase Listing Day With New Bitcoin All-Time Highs “The line separating investment and speculation, which is never bright and clear, becomes blurred still further…

Ethereum Sets New ATH, Here’s Why The Bulls Could Aim $2,500

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Ethereum is gaining momentum above $2,300 against the US Dollar. ETH price is showing positive signs and it is likely to continue higher towards the $2,400 and $2,500 levels. Ethereum is gaining pace above the $2,200 and $2,250 resistance levels. The price is now trading well above $2,250 and the 100 hourly simple moving average. There was a break above a key contracting triangle with resistance near $2,300 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher towards the $2,400 and $2,420…

Here’s Why Bitcoin Price is Signaling Upside Continuation To $65K

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Bitcoin price started a fresh increase and it cleared the $62,000 resistance against the US Dollar. BTC traded to a new all-time high near $63,862 and it is likely to continue higher. Bitcoin extended its rise above the $62,000 and $63,000 resistance levels. The price is now trading well above the $62,500 level and the 100 hourly simple moving average. There is a bullish continuation pattern forming with resistance near $63,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue higher…

The Bearish Bitcoin Chart Bulls Definitely Don’t Want To See

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Bitcoin price today set a new all-time high, and tomorrow Coinbase goes public putting an even bigger spotlight on the already buzzing cryptocurrency industry. Things couldn’t possibly look more bullish for Bitcoin and the rest of the market, but the recent price action could resemble one market wizard’s schematic of what “distribution” should look like. Here’s the chart that anyone bullish on Bitcoin might not want to see. The Various Phases Of A Crypto Market Cycle All markets are cyclical, and crypto is no different. The entire asset class sans…

Ethereum Consolidates Gains, Here’s What Could Spark A Fresh Rally

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Ethereum is struggling to clear the $2,200 resistance zone against the US Dollar. ETH price is now consolidating and it is likely to start a strong rally above $2,200. Ethereum is trading in a positive zone above the $2,100 and $2,080 support levels. The price is now trading well above $2,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,125 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains well bid and it is likely to…