Bitcoin price is still facing strong resistance near $29,500. BTC is slowly moving higher and might start a steady increase above $29,500. Bitcoin is moving higher toward the $29,500 pivot level. The price is trading above $29,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with…
Much has been said in recent weeks regarding how uncharacteristically calm Bitcoin has been. On weekly timeframes, volatility measures are at their lowest ever. Unfortunately, despite the record-setting lull, directionless sideways price action could continue for a lot longer. Record-Breaking Low Volatility State Could Continue Longer Bitcoin price is at a standstill compared to its…
On-chain data shows two Bitcoin indicators are currently retesting levels that have historically been relevant for the market’s course. Bitcoin NUPL For Both Short-Term & Mid-Term Holders Is Neutral Currently As pointed out by an analyst in a CryptoQuant post, the BTC NUPL has been retesting crucial levels recently. The “Net Unrealized Profit/Loss” (NUPL) is…
XRP is currently undergoing a notable price correction, with a 24-hour decline of 2.2% and a seven-day slump of 12.1%, bringing its price to $0.61 according to CoinGecko. However, amidst this downturn, prominent crypto YouTuber and XRP analyst, Alex Cobb, has set an ambitious price target of $10 for the digital asset, employing the Elliott…
Polygon (MATIC), a prominent player in the cryptocurrency market, faced a volatile journey in July, as it initially cleared significant gains but encountered setbacks that have left investors and enthusiasts eager for signs of a resurgence. As of the latest data from CoinGecko, the MATIC price stood at $0.66, reflecting a 24-hour slump of 0.4%…
In the realm of meme coins, PEPE’s Network Realized Profit/Loss (NPL) metric has emerged as a critical barometer, shedding light on price trends within the cryptocurrency landscape. This metric has now indicated a glimmer of a price floor for the frog-themed token that has been facing its fair share of challenges. As a result, a…
Bitcoin price is struggling to climb above $29,500. BTC remains at risk of more downsides if there is a close below the $28,800 support. Bitcoin is still struggling to gain pace above the $29,500 pivot level. The price is trading below $29,200 and the 100 hourly Simple moving average. There is a key bearish trend…
In a report released on August 4, ARK Invest’s on-chain researcher David Puell reveals factors that could lead to another Bitcoin rally. The report, titled “The Bitcoin Monthly: July 2023,” provides an in-depth analysis and distinguishes between Bitcoin’s current situation and what the future holds for the largest cryptocurrency by market cap. Some Positives For…
On-chain data shows the Bitcoin Network Value To Transactions (NVT) ratio has formed a bearish crossover, a sign that a decline may be imminent. Bitcoin NVT Ratio Has Formed A Historical Bearish Crossover The “NVT ratio” is an indicator that measures the ratio between the Bitcoin market cap and transaction volume. In simple terms, what…
XRP experienced a surge after Ripple Labs’ recent legal win against the US Securities and Exchange Commission, marking a partial victory. Nonetheless, the pace of this upswing has moderated in recent weeks, encountering notable resistance and initiating a downward trajectory. With the latest data from CoinGecko, the XRP value registers at $0.658512. This shows a 1.1%…