Category: Analysis

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…

Bitcoin Prepares For its Next Move: Where is the 100 SMA, the Key BTC Level?

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Bitcoin price is consolidating above the $59,500 support zone against the US Dollar. BTC is now showing a few positive signs, but it must clear $61,200 for a fresh rally in the near term. Bitcoin is holding gains above the $60,000 and $59,500 support levels. The price is now trading well above the $59,500 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $59,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely…

The Rate Bitcoin Must Climb To Reach $100K By July

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Bitcoin is a numbers game through and through. There are only 21 million BTC. The code and its consensus algorithm are both made up of complex math. The total coins are slashed in half every four years, and so on and so fourth. Most important of all, here’s the growth rate Bitcoin price must hit steadily to reach $100K per BTC by July 2021 according to one crypto capital manager – as well as the one thing that could get in the way. Bitcoin Price Growth Rate Should Take Crypto…

Bitcoin Price Closes Record High Weekly, Could Conclude Cycle

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Bitcoin price is currently flirting with prices above $60,000, as the momentum of the ongoing bull market slowly begins to push the asset above the key resistance level. The start of a breakout through resistance might have began with last night’s historic weekly close – the highest ever recorded. However, despite what could be a clean bullish breakout, there’s a bearish factor lingering that could make this the last weekly close the high for some time. Bitcoin Price Closes Record High Weekly Candle Above $60,000 Bitcoin price has poked above…

Ripple (XRP) Consolidates Gains, Why Rally Isn’t Over Yet

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Ripple extended its rally above the $1.200 resistance zone before correcting lower against the US Dollar. XRP price is now consolidating gains and it is likely to rally again above $1.400. Ripple rallied towards $1.50 before correcting lower against the US dollar. The price is now trading well above $1.1500 and the 100 simple moving average (4-hours). There is a key contracting triangle forming with support near $1.3100 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair is likely to start a fresh rally if…

Bitcoin Steadies Above $59K, Here’s How Bulls Could Aim Fresh Rally

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Bitcoin price failed to continue higher above $60,800 and corrected lower against the US Dollar. BTC is now holding gains and it is likely to rally above $61,000 unless there is a break below the 100 hourly SMA. Bitcoin is struggling to gain momentum above the $60,000 and $60,500 levels. The price is now trading above the $59,000 level and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $60,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Why Bitcoin Price Is Gearing For Another Lift-Off To New ATH

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Bitcoin price is showing positive signs above $58,500 and $59,500 against the US Dollar. BTC is likely to accelerate higher above $61,000 and $62,000 in the near term. Bitcoin gained bullish momentum above the $58,500 and $59,200 resistance levels. The price is now trading above the $60,000 support and the 100 simple moving average (4-hours). There is a short-term bullish continuation pattern forming with resistance near $60,300 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh rally if it clears the…

Crypto Analyst Expects “Escape Velocity” When Bitcoin Breaks $60K. Here’s Why

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Bitcoin price is still stuck under $60,000 but unable to push any lower than $55,000. The tightening across the crypto market has been long and arduous but when $60,000 is finally broken, the crypto asset should reach what one analyst calls “escape velocity.” Here’s what the term means and what that could look like post-breakout of the key resistance level. Bitcoin Could Reach Escape Velocity After Breaking Above $60,000 Bitcoin price action has come to a critical impasse, either ready to explode to hundreds of thousands of dollars per coin,…

Bitcoin Reclaims 100 SMA, Here’s Why BTC Could Resume Uptrend

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Bitcoin price started a fresh increase above the $57,500 resistance against the US Dollar. BTC is showing positive signs above $58,000 and the 100 hourly SMA. Bitcoin remained well bid above the $56,000 level and it started a fresh increase. The price is now trading above the $58,000 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $57,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower, but the bulls…

Crypto CEO “Convinced” Of Bitcoin Cycle Top, Warns Of Sell Side Intensity

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Despite the best efforts by bulls for what has been several weeks now, Bitcoin price can’t seem to get back above $60,000 and spend any meaningful time above it. Fundamentals are as bullish as it gets for the top cryptocurrency, but bearish technicals might have finally caused sellers to step in. That’s according to one crypto company CEO, who has warned of sell side intensity increasing substantially in the last several hours. It’s caused them to be increasingly convinced that a cycle top is potentially in. Here’s a deeper look…