That bitcoin (BTC) has likely found a bottom around $6,000 is now generally accepted, so the challenge for investors and traders is to spot the early signs of a long-awaited bullish reversal. Basic technical theory suggests that a bearish-to-bullish trend change is confirmed after the price invalidates a “lower highs” pattern – a series of descending peaks. As such, bitcoin needs to rise above the September high of $7,400 to confirm a major bullish breakout. That would mean the number one cryptocurrency by market cap needs to rally close to…
Tag: Price
XRP Nears 50 Cents as Price Rises to One-Month Highs
The price of XRP, the world’s third-largest cryptocurrency by market capitalization, jumped 6 percent on Monday, to reach its highest total in 30 days, according to CoinDesk data. At 15:01 UTC, the cryptocurrency rose to $0.49 cents for the first time since Oct. 8, and was last seen trading at $0.4950, marking roughly a 6.14 percent increase since the day’s open. At press time, XRP is the biggest winner among the top 10 cryptocurrencies by market capitalization, reporting a seven-day gain of 11.13 percent, according to data from CoinMarketCap. XRP’s market…
Could Bitcoin Cash Price Surge Any Further after Weekend Rally?
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
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…
Ethereum Price Analysis: ETH/USD Primed For More Gains
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
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
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
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,…
The Cryptocurrency Price Conundrum
Cryptocurrency prices are a tricky thing, but what does it all mean? Christy Ai of CounterPart X breaks it down from Bitcoin to Ripple! Defense contractors are … source
Bitcoin’s Four-Day Rally Pushes Price Above $7,000
Aug.29 — In “Futures In Focus,” Phil Streible, senior market strategist at RJO Futures, examines the current rally in Bitcoin and the U.S. crude inventory drawdown. He speaks with Bloomberg’s Romaine Bostick on “Bloomberg Markets.” source