Key Points Bitcoin price traded further higher and broke the $6,515 resistance area against the US Dollar. There was a break above a key contracting triangle with resistance at $6,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to accelerate gains above the $6,550 and $6,600 levels in the near term. Bitcoin price is placed nicely above the $6,480 support against the US Dollar. BTC/USD is likely to grind higher towards the $6,700 level in the near term. Bitcoin Price Analysis Yesterday,…
Category: Analysis
Early Stages of a Mega Rally
It’s back to profitability for most altcoins as they register double digit gains. Leading the pack is XLM/USD and ADA/USD trading above important resistance levels. We expect most altcoins to keep expanding throughout this week as they reverse 2018 losses as price action form the foundation of a mega-rally. Let’s have a look at these charts: EOS/USD Price Analysis At the back of strong gains, EOS/USD is up four percent in the last day and 12 percent in the last week. The result is clear and most importantly prices are…
After 55 cents, XRP/USD Bulls Now Aim $1.65
With shifting sentiment and new-found bull momentum, XRP/USD is rising. It’s up 20 percent in the last week and trading above 55 cents meaning following yesterday’s spike in market participation. Because our trade conditions are now live, we suggest traders to buy at spot in line with week ending Sep 23 bull trend. Latest Ripple News It’s that time of the year to fill your crypto bags. Double digit gains and rumors of SWIFT integration was enough to temporarily propel XRP market cap above that of Ethereum. But the writing…
Bitcoin Cash Price Analysis: BCH/USD Extending Gains Above $600
Key Points Bitcoin cash price rallied above the key $600 resistance against the US Dollar. There is a major bullish trend line formed with support at $580 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair may correct lower, but dips towards the $580 zone remain supported in the near term. Bitcoin cash price is placed heavily in an uptrend above $550 against the US Dollar. BCH/USD traded as high as $629 before it started a downside correction. Bitcoin Cash Price Analysis Yesterday, we discussed…
Ripple Price Analysis: XRP/USD Approaching Buy Region Near $0.5250
Key Highlights Ripple price extended gains towards $0.5620 before started a downside correction against the US dollar. There are two bullish trend lines in place with support at $0.5320 and $0.5200 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently correcting lower, but dips remain supported near the $0.5200 zone. Ripple price is placed nicely in an uptrend against the US Dollar and Bitcoin. XRP/USD may find buyers once again near $0.5200 for a fresh upward move. Ripple Price Analysis After a minor…
Ethereum Price Analysis: ETH/USD Breaks Key Resistance, $230 Next?
Key Highlights ETH price traded higher and broke the $215 and $220 resistance levels against the US Dollar. Yesterday’s highlighted key breakout pattern was breached with resistance at $208 on the hourly chart of ETH/USD (data feed via Kraken). The pair traded towards the $223 level and it remains well supported on dips near $216. Ethereum price is climbing higher against the US Dollar and bitcoin. ETH/USD broke the important $215 resistance to move further into a bullish zone. Ethereum Price Analysis Recently, there was a minor downside correction from…
Crypto Market Surges in Daily Volume to $13 Billion, Renewed Optimism
Twitter Facebook LinkedIn Over the past three days, the volume of major cryptocurrencies and the rest of the crypto market has increased substantially, from around $10 billion to $13 billion. Bitcoin, in particular, has seen a large increase in volume from $3.1 billion to $4.3 billion within a week, by more than 40 percent. Led by the positive price movement of Bitcoin and its noticeable increase in volume, the value of other major cryptocurrencies like Stellar (XLM), Cardano (ADA), and Tron (TRX) has increased by the range of 3 to…
Just a Ripple? XRP Price Hits One-Month High But Eyes Correction
Twitter Facebook LinkedIn Ripple (XRP) on Tuesday established a bullish setup after rising more than 10 percent against the US dollar. The pair broke above the October peak to set a new one-month high at 0.569-fiat. It was previously stuck in a narrow trading range for multiple weeks amidst lower volatility. While the lack of bias-defining price action is itself not significant, the absence of solid bullish momentum, coupled with failed rally attempts of the recent weeks, confirms XRP’s overall downtrend. The latest rally marks the asset’s latest attempt to break…
Crypto Market May be Poised for Bullish Breakout
Twitter Facebook LinkedIn Bitcoin on Tuesday confirmed another bull flag formation after reversing from its downside correction action. The BTC/USD pair has almost negated the losses made during yesterday’s trading session, bringing the 24-hour gains to 0.46 percent. The pair found a strong intraday support level at 6372-fiat, just ahead of testing the lower trendline of the parallel channel introduced in the previous analysis. It reversed from the said level to retest its interim resistance at 6421-fiat. The BTC/USD pair is now trading at 6427-fiat on a comparatively high volume…
Ripple (XRP) Briefly ‘Flippens’ Ethereum to Become 2nd-Largest Cryptocurrency
Twitter Facebook LinkedIn Ripple (XRP), long the world’s third-largest cryptocurrency, capped off an impressive single-day rally with a foray onto the market’s silver podium, briefly evicting ethereum (ETH) from the market cap ranking it has long called home. Ripple (XRP) Challenges Ethereum for Silver Podium The rally, as CCN reported, saw the ripple price rise an astounding 14 percent on a day when bitcoin (BTC) traded sideways, and no other large-cap cryptocurrency rose more than 4 percent. In fact, XRP’s single-day return was triple that of Metaverse ETP, whose 4…