Bitcoin is likely forming a short term bottom near $8,400 against the US Dollar. However, BTC price must climb above the 100 hourly SMA and $8,800 to start a fresh increase.Bitcoin is currently consolidating above the $8,400 and $8,500 support levels against the US Dollar.The bulls need to gain control above $8,700 and the 100…
Ripple retested the key $0.2240 support area against the US Dollar. XRP price could start a strong recovery wave once it clears the $0.2350 and $0.2380 resistance levels.Ripple price is showing a few positive signs above the $0.2240 level against the US dollar.The price is likely forming a double bottom pattern near the $0.2240 level.There…
Ethereum is currently consolidating above the $212 support area against the US Dollar. ETH price must climb above $228 and $238 to start a strong recovery in the near term.Ethereum is showing a few positive signs above the $212 level against the US Dollar.The price is likely to retest $228, which is the first major…
Bitcoin declined more than $1,500 in the past few days against the US Dollar. BTC is now facing a drop to $8,200 or $8,000 before a strong upward move in the coming days.After forming a short term top, bitcoin price dived below $9,000 and $8,800.The price is currently consolidating above $8,500, with a few bearish…
Ethereum decline to a new 3-week low at $208 against the US Dollar, similar to bitcoin. ETH price could correct higher in the short term, but upsides are likely to remain capped near $242.ETH price is currently showing a few recovery signs from the $208 low against the US Dollar.The price is now trading above…
After a brutal start to the week that saw Bitcoin crash from $10,000 to as low as $8,500, the crypto market has finally started to show signs of consolidation.According to a well-known crypto trader who has predicted recent price action quite well, this consolidation is a potential sign that Bitcoin will soon re-enter the $9,000s.…
After Bitcoin started to tank earlier this week, analysts have been wondering at which point the cryptocurrency will bottom. While traders across the board are divided about the exact answer to this pressing question, there is a rapidly-building case that BTC will soon start to trend higher once again after the nearly 20% drop it…
Chainlink’s native token LINK was among the biggest gainers as a majority of assets in the crypto market plunged deeply earlier this week.The eleventh-largest cryptocurrency beat the bearish odds to grow by more than 40 percent since February 26. It established a week-to-day high at $4.38 in early Saturday trading, hinting its inclination to behave…
Bitcoin recently made a “Golden Cross” where the 50-day moving average closed above the 200-day moving average, a positive development for traders who see it as a very bullish indicator. However, the benchmark cryptocurrency fell sharply right after forming the bullish crossover.The bitcoin-to-dollar exchange rate slipped below both the 50- and 200-DMA earlier this week,…
Bitcoin is known for its parabolic movements to the upside; BTC’s infamous rally from $1,000 to $20,000 in 2017 was a clear parabola higher, marked by rapidly-increasing highs and an eventual blow-off top, which saw BTC correct 60% within weeks after the peak.Though, the cryptocurrency also trades parabolically to the downside. A prominent analyst recently…