Please share if you find this article interesting. Bitcoin Price Outlook Worsens After Drop to Five-Day Lows Bitcoin's (BTC) drop to five-day lows on Monday has likely emboldened the bears, technical studies indicate. The leading cryptocurrency traded in a sideways manner over the weekend, neutralizing the immediate bullish outlook. However, the consolidation was expected to end with an upside break, as the short-term moving averages (MAs) turned bullish on Saturday, adding credence to positive relative strength index divergence (RSI). Instead, BTC dived out of the trading range in the US session yesterday and fell to a low of $6,203 – the lowest level since Sept. 12 – indicating the corrective rally from the recent lows near $6,100 has likely ended at Friday's high of $6,600. Mo
Please share if you find this article interesting. Ether Just Erased Half of Last Week's 35% Rally The price of ether (ETH), the world's second-largest cryptocurrency by market capitalization, sank nearly $30 today, effectively erasing half of the 35 percent rally recorded last week. At press time, ETH is trading across exchanges at an average price of $196 - down $28 and 11 percent on a 24-hour basis, according to CoinDesk's Ether Price Index (EPI). The development came after what was a record-setting week for the cryptocurrency when it recorded its highest daily trading volume in over 12 months, most of which came from buyers. The surge in investor interest helped fuel a more than 35 percent rally in price from its weekly low of $167 set on September 12, to a high of $228 reco...
Please share if you find this article interesting. $6,550: Bitcoin Charts Suggest New Target for Price Rally The corrective rally in bitcoin (BTC) could gather momentum if key resistance above $6,500 is crossed on the back of high volumes, according to technical charts. The leading cryptocurrency witnessed a symmetrical triangle breakout last week, opening doors for a stronger corrective rally towards $6,800–$7,000. However, despite the bullish setup, BTC was rejected near $6,600 on Friday and spent the weekend trading in a sideways manner in the range of $6,350–$6,550. As a result, the immediate bullish outlook has been neutralized. Further, trading volumes fell to a two-month low of $3.22 billion on Saturday, putting a question mark on the sustainability of the recovery from th
Please share if you find this article interesting. Tezos Token Makes Gains in Approach to Official Launch The price of XTZ, the native token of the Tezos crypto project, rose 30 percent over the weekend in anticipation of the network's official launch Monday. At press time, XTZ is trading at $1.55, having clocked a 5.5-week high of $1.75 at 13:10 UTC on Saturday. At that point, XTZ was up 35 percent from Friday's low of $1.29, according to CoinMarketCap data. The cryptocurrency picked up a strong bid on Friday after the developers tweeted that Tezos' mainnet arrives on Sept. 17. In fact, the mainnet has been live in beta since late June with tokens tradeable on some exchanges. Notably, trading volumes also jumped 169 percent on Friday to a nine-week high of $5.13 million, marking
Please share if you find this article interesting. Ether Records Highest Daily Trading Volume in 12 Months Daily trading volume for ethereum's ether (ETH) token hit a 12-month high on Thursday. The second-largest cryptocurrency witnessed a 24-hour trading volume of $850,000 yesterday – the highest level since September 15, according to Bitfinex data. Further, the current weekly volume of $2.9 million is the highest since mid-December. Meanwhile, 24-hour trading volume across all exchanges currently stands at $2.33 billion, the highest level since July 18, according to CoinMarketCap. ETH daily trading volume on Bitfinex The sharp rise in trading volume indicates the investors have likely bought the recent dip in ETH below $200. Hence, the recovery from the 13-month low of $167
Please share if you find this article interesting. Bitcoin Price Takes a $200 Tumble After Eight-Day Highs Having dropped back from eight-day highs hit this morning, bitcoin (BTC) price could be in for a bout of consolidation before further upside unfolds. The cryptocurrency rose to $6,596 earlier today on Bitfinex – the highest level since Sep. 6 – adding credence to the short-term bullish reversal signaled by the symmetrical triangle breakout earlier this week. However, despite the strengthening bullish case, BTC quickly lost around $200 soon before press time. As if writing, BTC is changing hands at $6,450, having printed an intraday low of $6,355 a few minutes ago. While the sudden price pullback could force investors to question the sustainability of the corrective rally, th
Please share if you find this article interesting. Back Over $200 Billion: 3 Reasons Crypto Prices Could Be Heading Higher The cryptocurrency market has been making history for all the wrong reasons as of late, most notably by recently surpassing the plunge of the infamous Dot-Com bubble in the early 2000's. With that said, cryptocurrencies tend to make recoveries when all hope is seemingly lost, and today's price action of the world's second largest cryptocurrency, ether and many others is no exception. At press time, several of the top 10 cryptocurrencies by market capitalization are reporting 24-hour gains above 10 percent, including monero (XMR), litecoin (LTC), and EOS. Ether (ETH) is leading the pack while boasting a 17 percent price increase. Further, the total market cap ...
Please share if you find this article interesting. FOAM Is Live: Decentralized World Map Launches on Ethereum One of the year's most hotly anticipated blockchain applications is now live. FOAM, which aims to build a reliable, resilient world map using smart contract technology, announced that the decentralized application (dapp) has launched on the ethereum blockchain and is already "seeing the first users populate the map." Speaking to CoinDesk in June, FOAM co-founder and CEO Ryan John King explained the motivation behind the dapp, saying "people think location is a solved problem." Rather, King argued, centralized mapping services like GPS – which is owned by the U.S. government and operated by the Air Force – are ultimately vulnerable and unreliable. FOAM's solution is to spr
Please share if you find this article interesting. Bitcoin Price Looks North After Passing $6.4K Resistance Bitcoin (BTC) is teasing a decent bullish move, having cleared crucial resistance a few hours ago. The leading cryptocurrency moved past $6,400 earlier today, signaling that bearish exhaustion – as indicated by Tuesday's spinning bottom candle – is paving way for a corrective rally. Notably, the positive price action was preceded by a solid defense of the long-term trendline connecting the June low and Aug. 11 low and an upside break of the symmetrical triangle. As a result, the stage looks set for an upside move. However, caution is still the name of the game, as the bearish moving averages (MAs) could work as hurdles and complicate the recovery. At press time, BTC is cha
Please share if you find this article interesting. Ether Shorts Hit Another Record High as Price Sinks There seems to be no end in sight for the sell-off in ether markets, as the number of short orders placed on the second-largest cryptocurrency by market capitalization hit a fresh record high on Wednesday. The ETH/USD shorts on Bitfinex exchange clocked a new high of 248,247, beating the previous record high of 247,611 set last Friday. Looking at the data from a different angle, these bearish bets have risen by more than 200 percent in the past four weeks. ETH/USD shorts The extreme negative positioning – as seen in the chart above – usually results in a sharp move on the opposite side, popularly known as "short squeeze". Further, the stage looks set for profit taking (unwindin