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 price.

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 Ethereum, 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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Market With Mixed Signals As Ether And Bitcoin Record Minor Gains

market with mixed signals


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At press time, we can see that is trading at $10,430 which represents an increase of more than 4% on the day. The altcoin news, on the other hand, show that the price of Ether (ETH) has also recovered and is staying away from the red zone. This marks a with as both Bitcoin and altcoins are struggling to gain solid momentum.

In fact, BTC needs to climb by about 15% in order to retake the $12,000 barrier which was surpassed by it multiple times earlier this month. The latest cryptocurrency news show that anticipated BTC futures platform Bakkt announced that it has been approved for launch – namely by the Commodity Futures Trading Commission (CFTC) and New York State Department of Financial Services (NYSE) – and it will apparently roll out on September 23.

In a market with mixed signals like the one we are seeing, the number two cryptocurrency which is Ether (ETH) has turned around to trade slightly in the green today. As we can see in the coming altcoin news, ETH is trading over $185 and showing a minor increase on the day. The decline for Ethereum has still been shocking as the cryptocurrency slid down from $218 to $185 and fell by approximately 15% to hit the current price.

Ripple’s XRP token is also in the market with mixed signals. It is trading at $0.262 and trending down by more than 0.24% on the day. Just like the rest of the coins, XRP has been slumping over the course of the past week. Unlike BTC and ETH, XRP has not managed to get back into the green as of press time.

Alongside BTC and ETH, there are other top 20 cryptos in the green today which include the names of EOS, Tether (USDT), Bitcoin SV (BSV), Binance Coin (BNB), Monero (XMR), Dash (DASH), Tezos (XTZ) and Stellar (XLM). The total market capitalization right now is over $270 billion in a market with mixed signals.

Bitcoin’s uplift could sustain, analysts say. But in a volatile position like this, a bearish trend is also apparent – which could be beneficial for altcoins, especially when it comes to lowering Bitcoin’s dominance which is now at 69.2%.

The post Market With Mixed Signals As Ether And Bitcoin Record Minor Gains appeared first on DC Forecasts – Leading Digital Currencies.


Source: dcforecasts
Market With Mixed Signals As Ether And Bitcoin Record Minor Gains

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Crypto Market Sends Mixed Signals as Ether and Bitcoin Price See Green

ETH and BTC Price are both in the green while overall is


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Crypto Market Sends Mixed Signals as Ether and Bitcoin Price See Green

Crypto Market Sends Mixed Signals as Ether and Bitcoin Price See Green

This article was originally posted on Cointelegraph – an independent publication covering cryptocurrency, the blockchain, decentralized applications, the internet of finance and the next gen […]
Source: cryptonewsmonitor
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Crypto Market Attempts Strong Recovery But Short-Term Resistance Threatens To Send Prices Spiraling Down Again

Crypto Market Attempts Strong Recovery But Short-Term Resistance Threatens To Send Prices Spiraling Down Again

The has in the last 24 hours changed trend and turned bullish. This follows a market plunge that saw more than $20 billion wiped out in a couple of hours.

The plunge saw crash below $10K, before finding support just above $9,600. Other top cryptocurrencies that suffered massive drops included Ethereum which dropped below $180 and XRP which tested the $0.26 support.

When these coins found their short-term bottom a reversal was expected almost immediately. Bitcoin began by bouncing back above $10K. This allowed it to secure this very important psychological support.

Bullish Or Bear Trap?

Although the climb back up was expected to be slow, Bitcoin has in the last few hours been showing aggression. In the early hours of Friday, Bitcoin was rallying as high as $10,400.

The market has in the last 24 hours changed trend and turned bullish. This follows a market plunge that saw more than $20 billion wiped out in a couple of hours.
BTCUSD Chart By TradingView

This raw potential has been alarming and simultaneously a sign that the next rally will be a big one. In a bullish case, this shows that investors have been accumulating during the recent dip. This drives prices up as demand increases.

In a more bearish case, this could be a bear trap and could be an attempt by the whales to create hype by buying more before eventually dumping when prices rally. The market has seen this before, making current movements very critical. In case the recent aggression has been driven by a bear trap, Bitcoin could suffer more losses and retest recent bottoms.

Despite recent dips and potential for a bear trap, sentiments remain bullish. For starters, Bitcoin has climbed back above its psychological bullish level. Trading volume has also spiked in the last 24 hours.

Crypto Market Attempts Strong Recovery But Short-Term Resistance Threatens To Send Prices Spiraling Down Again
Market Visualization By Coin360.com

For Bitcoin, this has climbed above $21 billion. Dominance has also climbed above 68% since altcoins began bleeding two days ago. The top cryptocurrency is looking bullish for the mid-term and its rally will likely inspire altcoins to rally with it.

Brian Armstrong Talks About Institutional Investors

Coinbase CEO has also been offering positive news. Following the announcement of Coinbase acquiring XAPO, Armstrong has revealed that cryptocurrency demand from institutional investors has been on a high.

The CEO revealed that there is $200-400M a week in new deposits coming in from institutional customers. This is strongly bullish and a signal that institutional investors are bullish on the future of .

The post Crypto Market Attempts Strong Recovery But Short-Term Resistance Threatens To Send Prices Spiraling Down Again appeared first on ZyCrypto.


Source: zycrypto
Crypto Market Attempts Strong Recovery But Short-Term Resistance Threatens To Send Prices Spiraling Down Again

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Bitcoin And Crypto Market Rebound Facing Hurdles: BCH, XLM, EOS, TRX Analysis – newsBTC

And Rebound Facing Hurdles: BCH, XLM, EOS, TRX   newsBTCBitcoin (BTC) and the crypto market cap are recovering towards key resistances. Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are …
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Bitcoin And Crypto Market Rebound Facing Hurdles: BCH, XLM, EOS, TRX Analysis

  • The total cap declined to $242.0B and is currently correcting higher.
  • price is currently correcting higher and is trading above the $10,200 level.
  • BCH price stayed above the $300 support and it is currently near the $310 level.
  • EOS price is currently consolidating above the key $3.500 support area.
  • Stellar (XLM) price is slowly recovering higher towards the $0.0700 and $0.0720 resistance levels.
  • Tron (TRX) price is trading in a strong downtrend below $0.0200 and $0.0180.

Bitcoin (BTC) and the crypto market cap are recovering towards key resistances. Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are trading in a major downtrend.

Bitcoin Cash Price

Recently, BCH price started a fresh decline after tagging the $355 level against the US Dollar. The BCH/USD pair declined below the $340 and $330 support levels. It tested the $305 level and it is currently consolidating near the $310 level. On the upside, an immediate resistance is near the $315 and $320 levels.

On the downside, the main supports are near $305 and $300. If there is a bearish break below the $300 support, the price could continue to decline towards the $285 support.

Stellar (XLM), EOS and Tron (TRX) Price Analysis

EOS price declined heavily after it broke the $4.000 and $3.800 support levels. The price even spiked below $3.500 and it is currently consolidating losses. An immediate resistance is near the $3.700 and $3.800 levels. Above these, the price could test the main $4.000 resistance area. On the downside, the main support is near the $3.500 level.

Stellar price is slowly correcting higher towards the $0.0700 and $0.0720 resistance levels. If XLM price climbs above $0.0720, it could correct higher towards the $0.0800 resistance level. On the downside, the main supports are near $0.0650 and $0.0640.

Tron price declined heavily after it traded below the key $0.0200 support level. TRX price even declined below $0.0185 and $0.0180. It is currently trading near $0.0172 and it might correct higher towards the $0.01800 resistance.

Bitcoin Crypto Market Cap ETH, XRP, BCH, LTC, EOS, TRX, ADA, BNB

Looking at the total cryptocurrency market cap 4-hours chart, there a sharp decline below the $265.0B support area. The market cap even broke the $250.0B support and moved towards $240.0B. A swing low was formed near $242.0B and the market cap is currently recovering higher. On the upside, there is a strong resistance forming near the previous support at $272.0B and a connecting bearish trend line. Therefore, the current recovery could face hurdles near the $270.0B and $272.0B levels. Overall, upsides are likely to remain capped in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.

The post Bitcoin And Crypto Market Rebound Facing Hurdles: BCH, XLM, EOS, TRX Analysis appeared first on NewsBTC.


Source: newsbtc
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