Market Analysis: Crypto Prices Attempt Resistance Breakout After Recent Plunge

Why Altcoins continue to show glimpses of weakness against Bitcoin

Today, the cryptocurrency is exhibiting some good moments, which can be attributed to the sharp recovery of most cryptocurrencies within the past 24 hours. However, this was not the case a couple of days ago judging from charts. Most of the downward trend of these assets could mostly be pinned on ’s most recent dump in .

Bitcoin Gains in Price After Most Recent Dump

As at press time, Bitcoin is priced at $10,352, which is a 2.49% increment within the past 24 hours, according to Coinmarketcap. While the asset’s current price is not entirely remarkable comparing it to its value of $11,420 on Tuesday, August 13, 2019, the community can finally breathe a sigh of relief, even if it’s a short-lived one.

The latter is a result of its low of $9,675 on Thursday, August 15, 2019, with the possibility of declining further down. In the same vein, certain events in the crypto space happening within the same period did little good to Bitcoin’s dwindling price.

News Emerging Shakes Crypto Market

For instance, the U.S. Securities and Exchange Commission (SEC) postponed its decision to approve three Bitcoin ETFs. Also, Trump’s administration publicized earlier this week that the 10% tariff that had been imposed on Chinese imports valued at $300 billion will be delayed for certain goods.

Bitcoin’s sharp decline from its $11,400 price level to $10,830 on August 13, 2019, triggered by these events, took a toll on the crypto market. However, a closer look at , XRP, Bitcoin Cash, Litecoin, and other top crypto assets’ price charts today, shows that they have made significant leaps as well.

ETH, XRP, and BCH Also Spike After Minor Drop in Price

Ethereum (ETH), for example, is priced at $185.30 and has gained 0.83% in the past 24 hours. On Thursday, August 15, 2019, Ethereum visited a low of $178.14, a level it has never traded at since June 2019. The last time Ethereum traded within that range was on the 11th of May 2019, where its low and high for the day were $173.14 and $203.47 respectively.

XRP, the third-largest crypto asset has also recovered judging from its $0.265 price level and 2.09% increment today. On Wednesday, August 14, 2019, XRP’s low for the day was $0.252. What’s even more remarkable is that XRP had never traded around that range since the year began. The last time the cryptocurrency was priced around $0.25 was on September 12, 2018, almost a year ago.

There’s also Bitcoin Cash (BCH) which also took some quite the beating earlier this week. BCH’s price as at press time is $310.04, which gives it a 0.31% in the past 24 hours. Like other top crypto assets, BCH’s low was mostly felt on Thursday, August 15, 2019, when it traded as low as $282.04. Nonetheless, its price on Thursday wasn’t far off since BCH was also priced within that range on July 24, 2019.

The post Market Analysis: Crypto Prices Attempt Resistance Breakout After Recent Plunge appeared first on ZyCrypto.


Source: zycrypto
Market Analysis: Crypto Prices Attempt Resistance Breakout After Recent Plunge

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Price Analysis 17/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM

With altcoins falling to new yearly lows, will also cave or will it continue to outperform? Let’s consult the charts


Source: cointelegraph
Price Analysis 17/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM

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Altcoin Analysis 2017 vs 2019: Delightful Surprise

Coinspeaker
Altcoin Analysis 2017 vs 2019: Delightful Surprise

The high fluctuating Bitcoin prices since its launch have made altcoins a go-to investment option for most of the enthusiasts and traders.

If we go back to February 2017, it was the first time when the entire crypto community has realized altcoins potential as their value went sky-high after the Bitcoin halving in July 2016.

https://www.newsbtc.com/2019/06/18/crypto-altcoin-season-bitcoin/

Photo: NewsBTC

All the popular altcoins, including Litecoin, Stellar, Ethereum, and XRP have observed a staggering growth up to 5300 percent. As per the 2017 data, the market value of Litecoin went up by 700, Stellar increased 320%, by 1060%, and XRP prices went berserk up to 5300% (see chart above).

Compared to altcoins, from halving event in 2016 to March 2017 have not seen that dramatic growth and its prices went up by 200% percent only.

Moving forward in 2018, both Bitcoin and altcoins went through the same path in terms of fluctuations or market value, but the former was more volatile in pricing as usual.

In 2019, right from the beginning, the prices of frontrunner altcoins have rallied up and have observed double-digit gains. Many popular altcoins like Litecoin have doubled in market value. The Bitcoin brethren’s have also moved upwards in the Google Trends list.

Many of the low, mid, and high market cap altcoins have also observed a high upsurge in prices when compared to Bitcoin in 2019.

For example, low market cap altcoins like Titan Coin are moving rapidly upwards in crypto price charts in 2019 due to its multiple use cases. Titan Coin is an innovative experimental internet currency that is growing at tenfold speed, all thanks to its next-generation blockchain technology that employs hybrid POW and dynamic POS structure, along with SHA256+ GROSTl for verifying and securing transactions.

The rapid rise in the market value of the altcoins in 2019, even before the Bitcoin halving period is a bit surprising for the crypto experts. On the other side, the market value of Bitcoin also reached a staggering high of USD 13,020 in 2019, after a stagnant growth since mid-January 2018.

Some experts in crypto space are arguing that 2019 is not the growth season that all are touting it to be. Altcoins are still in the accumulation phase in 2019, and the next in line is the Markup season where the prices of altcoins will surely stun the entire crypto community in terms of profit-generating growth.

Bitcoin stats in 2019 also seems to support the above expert arguments. In many phases of 2019, Bitcoin’s market gains are more than that of large-cap altcoins and the relative Bitcoin share of the overall cryptocurrency market is also at an 18-month high. The around 300 days away time period of the Bitcoin halving event is also something in favor of Bitcoin.

Summing Up

Whatever it may seem, many (both small and large-cap) altcoins like Titan, Litecoin, etc. have seen a massive upward price moment in 2019, even better than Bitcoin in some cases, which is a big surprise for everyone. This can also be considered as a period where “smart money” is being invested by investors to reap benefits in the following markup season where altcoin prices go sky-high.

Altcoin Analysis 2017 vs 2019: Delightful Surprise


Source: coinspeaker
Altcoin Analysis 2017 vs 2019: Delightful Surprise

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0x price analysis 16 August 2019; On its way to the top – Cryptopolitan

0 16 August 2019; On its way to the top  CryptopolitanEven though 0x’s performance cannot be compared to other altcoins, it’s still important to note that when looking at the difference, we can clearly see that 0x is in …
Source: worldnewsoffice
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Bitcoin Price Analysis: Higher Lows Test Bullish Resolve

Summary:

  1. After a very strong round of selling that dropped the almost $2,000 in just a couple of days, the managed to find support at an important macro level.
  2. The support rally marked a third, higher high for our current market and it rallied on very high volume and spread.
  3. The market is currently situated between two strong levels and, until one of them gives way, it’s possible that we’ll see a strong bit of chop. If we manage to break the overhanging resistance the upside target lies around $11,200 to $11,300. However, if support breaks we are most likely looking at a retest of the $9,200 zone.

Trading and investing in digital assets like is highly speculative and comes with many risks. This price is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc. They should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

The post Bitcoin Price Analysis: Higher Lows Test Bullish Resolve appeared first on Bitcoin Magazine.


Source: bitcoinmagazine
Bitcoin Price Analysis: Higher Lows Test Bullish Resolve

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Ethereum Price Analysis: ETH Dumps To $180 Support

Ethereum

Over the last 10 days (ETH) has seen a sharp pull-back. The $180 support appears to be holding for now but with large selling pressure entering the further downside is looking likely. 


ETH/USD 4-Hour
ethusd4h

On the 4 hour chart for ETH/USD, we can see the correction taking place over the last 4 weeks stemming from the break-down at $290. The market is now sandwiched between two strong support levels at $190 and $170. The previous consolidation in the form of an asymmetrical triangle almost ended the correction attempting to break above the 200 EMA at $235 before getting rejected. Ethereum levels have since formed another visible downtrend.

A visibly large amount of selling volume occurred on the 14th of August, resulting in price levels dropping through $200 support. However, for such a large volume spike, there really wasn’t a lot of momentum gathering from the bears during this short drop. This indicates that bearish momentum is fizzling out as price action trades between two key support levels.

The last main support level is the 0.236 Fibonacci level at $145. It would likely be unwise to look for long entries if this level breaks.

1-Hour Analysis

On the 1 hour chart for ETH/USD, we can see the smaller downtrend that has formed since the short rally to $235. Price levels have now created a lower low on this correction as mentioned in my previous analysis. Buying pressure appears to be entering the market around the current market price of $180. However, it does not appear to be the required influx of buying volume needed to spur a short-term reversal.

The MACD has dropped significantly in the last 24 hours in conjunction with the sell off, sendingEthereum price levels crashing below $200 support. Since then, MACD has almost regained the median of 0.00 indicating a relief from bearish pressure as price levels trade between to key support levels. This is a strong indication that ETH will now enter another period of short-term consolidation, likely forming another triangle pattern and trading sideways over the coming days.

A key support that ETH must stay above in order to gain any chance of breaking upwards during the period of consolidation is $170. The key resistance level that needs to be passed in order to confirm a bullish reversal is $196. Price levels must breach and close above this point.

Do you think BTC will break upwards, or drop below $170 support over the coming days? Please leave your thoughts in the comments below!

This article is strictly for educational purposes and should not be construed as financial advice.


Images via Shutterstock, ETH/USD charts by Tradingview

The post Ethereum Price Analysis: ETH Dumps To $180 Support appeared first on Bitcoinist.com.


Source: bitcoinist
Ethereum Price Analysis: ETH Dumps To 0 Support

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Bitcoin Price Analysis: BTC Aiming for $8,800 if $9,000, Support Fails to Hold

fails to hold above $10,000 and is losing ground towards $9,000. is trading at $9,700 amid a building bearish momentum. continues to lose ground as we enter the third week of August. While most analysts predicted ’s consolidation above $10,000 in readiness for the rally above $14,000, BTC price is forging […]
Source: bitcoinwarrior
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Bitcoin Price Analysis: Bears Shake Bullish Market Sentiment

bitcoin

levels have dropped $2,000 within the last 48 hours as bears begin to shake the current bullish sentiment. Continuation of the pull-back to key support around $8,800 is likely over the coming days.


Bitcoin 30-Minute Price
xbtusd

On the 30 minute chart for XBT/USD, we can see the sharp pullback that has taken place over the last 2-3 days. A clear influx of new volume has taken place throughout this pullback, initially bearish selling momentum that has now turned into a mixture of buyers and sellers. Price action was met with bitcoin buyers around $9,500 just above the 0.5 Fibonacci level indicating this is the predominant short-term support to look out for.

Strong support between $9,890 and $10,170 mentioned in my previous analysis has pulled price action back up to this level. It’s likely sideways consolidation will take place within this support range over the coming few days before a continuation of the pull-back, or a short-term trend reversal. Alternatively, price levels might rally up to $10,750 support essentially refuelling for a further pull-back and trapping buyers who think the short-term bitcoin trend has reversed.

RSI has clearly entered into the oversold region during this pull-back, taking the RSI momentum to the lowest point visible on the 30-minute chart. This means selling momentum will likely come to a halt over the coming days as momentum dies out. In order for bitcoin price levels to dump further without any form of sideways consolidation of brief rally upwards, there will need to be another large jump in selling pressure, which is unlikely.

1-Hour Price Analysis
xbtusd

On the 1 hour chart for XBT/USD, we can see the 200 EMA heading towards the 50 MA in a bearish fashion. It’s likely a bearish MA cross will occur over the coming 24-48 hours whilst price action goes into a short-term period of consolidation ahead of another drop. Another drop will create a lower low completing the descending channel on the daily. Three lower lows and three lower highs will be completed on the daily timeframe. Typically, descending channels that form as a result of a sharp up-trend are inherently bullish.

Key support levels to look out for if price levels continue downwards to create the third lower low as discussed as $9,130, $8,800 and finally $8,100. It’s important to note that if the final support at $8,100 is broken, the overall short-term sentiment will be no longer bullish and traders will likely be put-off entering into any long positions.

Do you think BTC will create a lower low in the coming weeks? Please leave your thoughts in the comments below!

This article is strictly for educational purposes and should not be construed as financial advice.


Images via Shutterstock, XBT/USD trading charts by Tradingview

The post Bitcoin Price Analysis: Bears Shake Bullish Market Sentiment appeared first on Bitcoinist.com.


Source: bitcoinist
Bitcoin Price Analysis: Bears Shake Bullish Market Sentiment

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Bitcoin Price Analysis: Bears Shake Bullish Market Sentiment

Bitcoin Price Analysis: Bears Shake Bullish Market Sentiment

This article was originally posted on The News – a trusted site covering numerous topics related to since 2012. levels have […]
Source: cryptonewsmonitor
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Price Analysis: Bitcoin Cash (BCH), Monero (XMR), and Binance Coin (BNB)

Stellar (XLM), Cardano (ADA) And Tron (TRX) Price Analysis And Forecast

Cash (BCH/USD)

Price Analysis: Bitcoin Cash (BCH), Monero (XMR), and Binance Coin (BNB)
BCHUSD Chart By TradingView

BCH being among the top-performing cryptocurrencies has today continued trading on bearish momentum. The underperformed has dipped by 16.04%, having escalated from where it started the sell-off at $349.8 to a current of $293.7.

The parabolic indicator is at the moment above the candles that give investors a sell signal. The relative strength index indicator has dropped from the overbought territory to the oversold territory that signaled an increase in bearish pressure.

Forecast

High possibility of more bear market is to be expected since the 21 day MA is still above the 7 day MA and the Bollinger band has currently expand which shows that the market is loud thus investors should expect a further decline in the price momentum. New targets should be set at $280.0.

Monero (XMR/USD)

Price Analysis: Bitcoin Cash (BCH), Monero (XMR), and Binance Coin (BNB)
XMRUSD Chart By TradingView

XMR/USD has also recorded a bearish outlook, on an hourly chart that showed a lack of buyers in the market. The downward move has pushed the pair’s price down to $74.87 from where it began trading at $84.21, this totals up to 11.09% decrease over the last 24hrs.

At the moment, both the moving averages are heading south, and the RSI indicator has dropped into the oversold zone which is a negative sign. The parabolic SAR indicator also gives a sell sign since it is at the press time seen above the candles.

Despite the dip, an upward rally is likely to be seen before the end of August. This is because the Cake Wallet is going to sponsor monero meetup before the end of August.  This may attract more investors and might positively boost the price of XMR.

Forecast

At the moment, all the technical indicators are pointing at the further bearish rally. With the expanded Bollinger band, a steep decline may be seen later on. Additionally, a short-term period of consolidation is likely to be encountered below $72.00 before a breakout. New targets should be set at $68.00.

Binance Coin (BNB/USD)

Price Analysis: Bitcoin Cash (BCH), Monero (XMR), and Binance Coin (BNB)
BNBUSD Chart By TradingView

BNB/USD pair has dipped below the moving averages. The downward rally has led to a price dip of 10.7% over the intraday. The bulls seemed to have failed to correct gains, which, have resulted in a bearish sign. This has led to a breakout below the critical support level near $26.8236, with major resistance level found near $29.0191. Apparently, the market showed no attempt to breach or test the resistance level that confirmed the downward move.

The parabolic SAR indicator is currently above the candles that recommend traders to go short. The RSI indicator was seen trading on the oversold territory that indicated an increase in sell-offs. Additionally, the RSI indicator is currently flattish that foresee an incoming period of consolidation below $24.0000.

Forecast

A high possibility of a more bearish outlook is likely. This is because both the moving averages and the parabolic SAR are tending south. The Bollinger band has also expanded, this shows loud market momentum.

The post Price Analysis: Bitcoin Cash (BCH), Monero (XMR), and Binance Coin (BNB) appeared first on ZyCrypto.


Source: zycrypto
Price Analysis: Bitcoin Cash (BCH), Monero (XMR), and Binance Coin (BNB)

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