Ethereum is holding the main $200 and $198 support levels against the US Dollar. ETH price is currently testing the 100 hourly SMA and struggling to continue higher above $205.Ethereum is facing a strong resistance near the $205 level and the 100 hourly SMA.The price is likely to accelerate higher if it breaks the $205…
Bitcoin is currently correcting higher from $8,645 against the US Dollar. BTC price needs to clear the $9,100 resistance area to start a strong upward move and avoid a major downtrend.Bitcoin is facing a couple of key hurdles near the $9,000 and $9,100 levels.The price must settle above the 100 hourly simple moving average to…
Hash ribbons, an indicator used to depict the health of Bitcoin miners powering the network, has just signaled capitulation for an unprecedented 4th time in this market cycle. And according to the tool, post-halving miner capitulation may have only just begun.Bitcoin Miners Are Capitulating Due To Post-Halving Production CostsAs a failsafe mechanism ensuring the long-term…
Bitcoin price fell 9.9 percent last week to log its most significant decline since the second week of March 2020.The cryptocurrency rebounded higher in Europe and Asia session Monday after testing interim support near $8,750.The jump accompanied thin volume, raising the possibilities of a negative breakout ahead of June.Bitcoin was trading in positive territory this…
Bitcoin and traditional markets logged a synchronous rally after crashing almost in tandem in March 2020.But the recovery has not impressed a vast majority of global fund managers, according to a survey conducted by the Bank of America.Only 1 out of 10 fund managers believe that the U.S. economy will register a V-shaped recovery, putting…
Bitcoin may still be up 135% from March’s lows, but the cryptocurrency’s technical outlook is far from bearish.After peaking at $10,000 multiple times over the past month, showing BTC does not yet have the momentum to clear resistances, the cryptocurrency slid as low as $8,625 on Sunday evening in a move that liquidated approximately $20…
Ethereum is trading nicely above the $192 and $200 support levels against the US Dollar. ETH price could start a strong rally if it clears the $210 and $215 resistance levels.ETH price is showing positive signs above $200 pivot level against the US Dollar.A strong support base is forming above $205 and the 100 simple…
Bitcoin started a strong downside correction from the $9,945 high against the US Dollar. BTC tested the $8,800 support area and it is currently correcting higher.Bitcoin is trading above the key $8,800 and $9,000 support levels.The price is facing a couple of key hurdles near the $9,400 and $9,500 levels.There is a major declining channel…
Ethereum nosedived below the $202 support zone against the US Dollar. ETH price revisited the $192 support and it seems like there is a key double bottom pattern forming near $192.Ethereum declined more than 5% and it tested the main $192 support zone.It seems like there is a double pattern forming near the $191-$192 zone.There…
Bitcoin started a strong decline after it broke the key $9,500 support against the US Dollar. BTC price is currently correcting higher from the $8,794 low, but upsides are likely to remain capped.Bitcoin is down more than 5% and it broke many key supports near $9,500 and $9,150.The price is now trading well below the…