Key Points Bitcoin price is holding the $6,380 and $6,350 support levels against the US Dollar. There is a major contracting triangle forming with resistance at $6,420 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair needs to surpass the $6,420 and $6,460 resistance levels to gain momentum. Bitcoin price…
Key Highlights ETH price stayed above the $196-197 support area with positive moves against the US Dollar. There is a monster breakout pattern formed with resistance at $204 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair must break the $204 and $208 resistance levels to climb higher in the near term.…
Key Points Bitcoin cash price remained under pressure below the $450 and $460 resistances against the US Dollar. There is a major bearish trend line in place with resistance at $436 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair could rise in the short term towards the $450 or…
An inverse monetary velocity pattern indicates that bitcoin bulls are wrong about the market’s next bull run. Willi Woo, a prominent cryptocurrency market analyst, pitted the digital currency network value (or market cap) against the daily US Dollar volume transmitted through the blockchain. A proportion between the two equated into Bitcoin Network-to-Value (Bitcoin NV) Ratio,…
Key Points Bitcoin price failed to move above the $6,400-6,410 resistance area against the US Dollar. There is a key bearish trend line in place with resistance at $6,405 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently trading below the $6,410 resistance and the 100 hourly simple…
Key Highlights ADA price failed to move above the $0.0770 and $0.0800 resistance levels against the US Dollar (tethered). There is a crucial bearish trend line in place with resistance at $0.0755 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is currently at a risk of a downside break…
Key Highlights ETH price failed to move above the $203 resistance and declined recently against the US Dollar. There is a new bearish trend line formed with resistance at $201 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains supported on the downside near the $196 and $197 levels. Ethereum price…
Key Highlights Ripple price started a downside correction after trading towards the $0.4740 level against the US dollar. There is a short term declining channel in place with resistance at $0.4540 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to find a decent support near the $0.4460…
Key Points Bitcoin price declined towards the $6,350 support and later recovered sharply against the US Dollar. There was a break above two bearish trend lines formed with resistance at $6,410 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tagged the $6,450-60 resistance and it is currently correcting lower.…
Key Highlights Ripple price is struggling to clear the $0.4540 and $0.4550 resistance levels against the US dollar. There is a major bearish trend line in place with resistance at $0.4540 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must clear the $0.4540, $0.4550 and $0.4610 resistance levels to…