Tuesday, May 22Your Daily Bitcoin & Altcoin News Portal

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Dash Price Technical Analysis: Drops into Critical Zone

Dash Price Technical Analysis: Drops into Critical Zone

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Dash price declined and broke key supports against the US Dollar and Bitcoin, and now DASH/USD is back in the bearish zone below $185. Key Highlights Dash price after a ride towards the $225 level versus the US Dollar faced sellers and declined. There is a major bearish trend line with resistance at $185 forming on the hourly chart of DASH/USD (data feed from Poloniex). The price currently correcting higher, but might struggle to break the $180-185 resistance zone. Dash Price Resistance In the last analysis, we saw a decent spike in Dash price above the $190 level against the US Dollar. The price even broke the $210 resistance and traded towards $225 where it faced sellers. Later, the price started a downside move and traded below the $210 ad $200 support levels. The mo
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Ethereum Price Technical Analysis: Hits a New 1 Month Low

Ethereum Price Technical Analysis: Hits a New 1 Month Low

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Ethereum price made heavy downside moves against the US Dollar and Bitcoin, and ETH/USD might continue to trade lower may be towards $170. Key Highlights ETH price is under heavy selling pressure, and recently broke the $220 and $200 support levels against the US Dollar. There are two bearish trend lines with resistances as $204 and $225 forming on the hourly chart of ETH/USD (data feed via SimpleFX). On the downside, an initial support is near $186, followed by the $165 level.   Ethereum Price under Pressure There was a solid increase in selling pressure in ETH price as it moved below the $220 and $200 support levels against the US Dollar. The price even struggling to hold the $190 level and recently traded as low as $185.13 from where a minor recovery started. T
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Bitcoin Price Technical Analysis: Sellers Have Taken Over Control

Bitcoin Price Technical Analysis: Sellers Have Taken Over Control

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Bitcoin price made a downside break from its triangle consolidation pattern to confirm that sellers are taking control from here. Bitcoin Price Key Highlights Bitcoin price was previously stuck in a symmetrical triangle consolidation pattern as bulls and bears have been battling it out. Price finally picked a direction and broke lower, signaling that sellers have gained the upper hand. This also allows bitcoin price to complete its complex head and shoulders formation, which is a classic downtrend signal. Technical Indicators Signals The 100 SMA has also crossed below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. These moving averages have also been in line with the top of the triangle, adding to its strength as a ceiling.
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Ethereum Classic Price Technical Analysis: Positioning to Fall Below $15.5

Ethereum Classic Price Technical Analysis: Positioning to Fall Below $15.5

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Ethereum classic price moved down in the bearish zone against the US Dollar and Bitcoin, and ETC/USD now positioning for more declines below $15.50. Key Highlights Ethereum classic price finally broke an important pattern and traded towards $14.50 against the US Dollar. This past week’s major contracting triangle pattern with support at $16.90 on the hourly chart (data feed via Kraken) of ETC/USD was breached. The price corrected lower after trading as low as $14.47, but failed to regain the bullish bias. Ethereum Classic Price Resistance This past week, we followed a major contracting triangle pattern with support at $16.90 on the hourly chart (data feed via Kraken) of ETC/USD. There were many swing moves inside the triangle, but later ETC price lost momentum and decli
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Ethereum Price Technical Analysis: Sliding Further Down

Ethereum Price Technical Analysis: Sliding Further Down

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Ethereum price is struggling to recover against the US Dollar and Bitcoin, and ETH/USD might continue to slowly grind lower towards or below $225. Key Highlights ETH price remained in a bearish trend and traded to a new weekly low at $225 against the US Dollar. There is a new bearish trend line with resistance at $235 forming on the hourly chart of ETH/USD (data feed via SimpleFX). The price may retest the $225 swing low today where buyers could be tested. Ethereum Price Decline There was an extension of the last leg in ETH price as it traded below the $248 support against the US Dollar. The price declined to a new weekly low at $225. Later, a recovery was started and the price moved above the 23.6% Fib retracement level of the last decline from the $270.85 high to $225
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Bitcoin Price Technical Analysis: About to Set Next Move

Bitcoin Price Technical Analysis: About to Set Next Move

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Bitcoin price is moving closer to the peak of its triangle pattern, so traders are on the lookout for a big breakout. Bitcoin Price Key Highlights Bitcoin price is still stuck inside its symmetrical triangle consolidation pattern visible on the 4-hour time frame. Price is currently testing support and may be due for another quick bounce up to the resistance. Price is approaching the peak of the formation so a breakout could take place anytime soon. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. In addition, bitcoin price bounced off the 100 SMA dynamic inflection point, which might continue to hold as resistance. A move higher could still hit the ceiling at the 200 SMA dynamic resistance. ...
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Bitcoin Price Weekly Analysis: Approaching Another Decision Point

Bitcoin Price Weekly Analysis: Approaching Another Decision Point

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Bitcoin price is heading towards a crucial break against the US Dollar, and for gains BTC/USD has to settle above $2600 in the near term. Key Points Bitcoin price traded in a range above the $2400 handle against the US Dollar, and looking for a break. There is a monster breakout pattern with support at $2420 forming on the 4-hours chart of BTC/USD (data feed from SimpleFX). On the upside, a break above the $2600 is needed for the price to gain bullish momentum.   Bitcoin Price Breakout Pattern There were swing moves in Bitcoin price below the $2650 level against the US Dollar. The price was mostly seen struggling to gain traction above the $2650-2700 levels. It traded as high as $2623 where it faced sellers and started moving lower. It traded down and broke the 38
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Ethereum Price Weekly Analysis: Losses Have Taken a Stronghold

Ethereum Price Weekly Analysis: Losses Have Taken a Stronghold

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Ethereum price is moving lower and following a bearish path against the US Dollar and Bitcoin. ETH/USD may now head further lower towards $210-200. Key Highlights ETH price after moving above the $310 level faced sellers and started a downside move. There are two major bearish trend lines forming with resistances as $252 and $288 on the 4-hours chart of ETH/USD (data feed via SimpleFX). The pair is likely to extend its decline below the $229 low and trade towards the swing low of $202.   Ethereum Price Decline This past week was mostly bearish for ETH price as it moved below $260 against the US Dollar. The top placed at $316.85 ignited a major downside move. The price is following a major bearish path, and currently trading below the $260 support and the 100 simpl
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Japan and China are Largely Responsible for the Recent Digital Currency Market Growth

Japan and China are Largely Responsible for the Recent Digital Currency Market Growth

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The age of cryptocurrencies is upon us, and two countries in particular have been instrumental in their stratospheric rise: China and Japan. Cryptocurrencies have become popular in China due to the government’s stringent control of the yuan — a power they occasionally exercise by artificially devaluing the currency for trading purposes. With private wealth in China growing, affluent individuals have found a more stable and accessible alternative to the yuan in cryptocurrencies. Additionally, China has an abundance of cheap energy and hardware, which facilitates crypto mining (the process through which new blocks in the blockchainare created and transactions are verified). Chinese exchanges run mining “pools” to generate these blocks, and these efforts constitute 60 percent of Bit
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Bitcoin Price Technical Analysis – Ascending Triangle Resistance

Bitcoin Price Technical Analysis – Ascending Triangle Resistance

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Bitcoin price is testing the ascending triangle resistance, still deciding whether to make a bounce or an upside breakout. Bitcoin Price Key Highlights Bitcoin price has formed higher lows and hit resistance at $2600, creating an ascending triangle pattern on its short-term charts. Price is still hovering around the resistance and could be due for a move back to support if it holds as a ceiling. Technical indicators are giving mixed signals at the moment. Bitcoin price is testing the ascending triangle resistance, still deciding whether to make a bounce or an upside breakout. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. The gap between the moving averages is getting wider to reflect st...