Category: Analysis

Could Bitcoin Cash Price Surge Any Further after Weekend Rally?

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Ahead of its hard fork, Bitcoin Cash surged as high as 29 percent during the weekend trading session. All the eyes are now on whether the altcoin can swell any further, especially when it promises to offer holders free tokens after its blockchain splits. Trading Sentiment around Coin Forks Traders tend to behave bullishly whenever a forking event is nearby. To them, a fork signifies free coins on the top of what they already hold. For instance, when the main Bitcoin blockchain forked and conceived Bitcoin Cash, the same chain,…

Bitcoin Price Watch: BTC/USD Could Resume Uptrend Above $6,440

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Key Points Bitcoin price corrected lower recently after trading as high as $6,472 against the US Dollar. There is a major bullish trend line in place with support at $6,390 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is positioned for the next wave, which could be above the $6,420 resistance. Bitcoin price is trading in a positive zone against the US Dollar. BTC/USD could continue to move higher as long as it is above $6,375 support level. Bitcoin Price Analysis Yesterday, bitcoin price…

Potential Factors Behind its Rally

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Twitter Facebook LinkedIn XRP, the native cryptocurrency of the Ripple network, has surged by more than 12 percent over the last 24 hours. Cryptocurrency traders and technical analysts generally expect the positive price movement of XRP to continue in the short-term,  given the sheer magnitude of the asset’s recent upward run. What Has Caused Ripple to Rally? Throughout the past week, Ripple has seen some progress in regards to the adoption and integration of its blockchain-based liquidity products. At the Global Islamic Economic Summit 2018, Ripple’s global head of infrastructure…

Ethereum Price Analysis: ETH/USD Primed For More Gains

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Key Highlights ETH price tested the $205 support area and recovered later against the US Dollar. There is a major breakout pattern formed with resistance at $209 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to break to the upside above the $209 and $210 resistance levels. Ethereum price is holding key supports against the US Dollar and bitcoin. ETH/USD could resume its upside move once there is a break above $209-210. Ethereum Price Analysis Recently, ETH price started a downside correction after trading…

Ethereum Classic Price Analysis: ETC/USD Could Revisit $10

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Key Highlights Ethereum classic price recovered recently and moved above the $9.00 resistance against the US dollar. There was a break above a major bearish trend line with resistance at $9.10 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is currently struggling to settle above the $9.50 and $9.60 resistance levels. Ethereum classic price recovered a few points against the US Dollar and Bitcoin. ETC/USD is currently correcting lower towards the $9.25-9.30 support. Ethereum Classic Price Analysis After trading as low as $8.74, ETC…

Ripple Price Analysis: XRP/USD Rally Gains Pace Above $0.50

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Key Highlights Ripple price surged higher recently and broke the $0.4700 and $0.5000 resistances against the US dollar. There is a short term connecting bullish trend line formed with support at $0.5000 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently placed nicely in a bullish zone and it could accelerate above $0.5140. Ripple price rallied recently against the US Dollar and Bitcoin. XRP/USD is currently correcting, but dips remain well supported near $0.5000 and $0.4950. Ripple Price Analysis Yesterday, we discussed that…

Bitcoin Cash Price Analysis: BCH/USD Approaching Next Key Break

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Key Points Bitcoin cash price is currently consolidating above the $535 support against the US Dollar. There is a key contracting triangle formed with resistance at $570 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to make the next move either above $570 or below $550 in the near term. Bitcoin cash price is preparing for the next move against the US Dollar. BCH/USD could rally once again if there is a break above the $570 resistance. Bitcoin Cash Price Analysis Yesterday,…

SEC Streamlining ICOs a Huge Boost for Ethereum

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Even though there is a lot of legitimate concerns around the legality of ICOs, the SEC is about to streamline the space creating clear distinction between digital assets that are securities and utilities. Once these guidelines go live then Ethereum as a smart contracting platform and a go-to blockchain for coin issuance could see increasing demand drive prices above key resistance levels. Latest Ethereum News That ICOs are a disruptive but innovative way of raising funds is true. It’s also true—according to previous SEC interpretations that most projects financed in…

Novogratz Says Bitcoin Will See Record Highs in 2019

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Twitter Facebook LinkedIn Mike Novogratz, the CEO of crypto investment firm Galaxy Digital, predicts that bitcoin will break out of its 2018 doldrums and soar to $20,000 in 2019 — fueled by a spike in institutional investments. The former Goldman Sachs investment banker says institutional “FOMO” (fear of missing out) will drive the market up over the coming months as cryptocurrency assets gain more mainstream acceptance and traditional finance players take the leap into crypto. Year-End Bitcoin Price Target: $8,800-$9,000 “Bitcoin has to take out $6,800, and after that we…

ADA/USD and IOT/USD Bull Breakout Pattern

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As EOS bull momentum slow down, ADA/USD and IOT/USD are trading within a bull break out pattern and it is likely that prices will race towards immediate targets at 9.5 cents and 90 cents. Should there be higher highs today in these two pairs as EOS/USD and XLM/USD consolidate then it points to an existing undervaluation. In that case traders should buy EOS, Litecoin and Stellar Lumens with expectations of higher highs. Let’s have a look at these charts: EOS/USD Price Analysis We are thrilled to announce that our Cross-Blockchain…