Ethereum continued its month-long decline, losing another 7.25 percentage points in the last 24 hours, according to coinmarketcap.com. While today’s loss was reflective of the cryptocurrency market as a whole, it was slightly worse than bitcoin’s, which lost 5.71 points. All cryptos lost ground today with few exceptions. The largest player to escape the trend was FirstBlood, the 36th largest crypto in market capitalization, posting an 8.55-point gain. Ethereum’s price has lost nearly 50 percent of its value in the last two weeks, falling from $282.31 on July 4 to $189.86 on July 14. Its losses have been bigger than bitcoin’s, which has extended its dominance of the total bitcoin market largely at Ethereum’s expense. Ethereum Market Cap Shrinks On June 19, when Ethereum had a $3
Ethereum classic price corrected a few points versus the US Dollar and Bitcoin, and ETC/USD is currently facing a tough barrier near $18.00. Key Highlights Ethereum classic price after trading a few points below the $20 handle against the US Dollar found sellers. There is a major support area forming above $16.50 on the hourly chart of ETC/USD (Data feed via Kraken). The price is likely to remain above the $16.00-16.50 levels and might continue to move higher. Ethereum Classic Price Support During the past two days, there was a lot of action in ETC price as it moved above $19.00 against the US Dollar. The price traded as high as $19.81 where it faced sellers and started a correction lower. The price moved below the 23.6% Fib retracement level of the last wave fr
Ethereum price is struggling again against the US Dollar and Bitcoin, and ETH/USD is just holding a major support area near $194-192. Key Highlights ETH price struggled to close above the $220 resistance against the US Dollar and moved down. There is a new contracting triangle pattern forming with support at $194.00 on the hourly chart of ETH/USD (data feed via SimpleFX). The price is currently below the $200 level and the 100 hourly simple moving average. Ethereum Price Resistance Yesterday, there was a decent recovery in ETH price above $210 against the US Dollar. The price traded higher and tested the $223-225 resistance zone where sellers appeared. As a result, the price failed to gain pace above $223, and a short-term high was formed at $223.73. The price s
Bitcoin price is hovering at the bottom of its descending triangle and could be due for a downside break. Bitcoin Price Key Highlights Bitcoin price has formed lower highs and found support around $2320, creating a descending triangle pattern visible on its 4-hour chart. Price is currently testing the triangle support, still deciding whether to make a bounce or a break. Technical indicators are signaling that further losses are in the cards. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. In other words, a breakdown is more likely to happen than a break to the upside. Also, the 100 SMA lines up with the triangle resistance so a bounce up to that level could still see its gains l...
The Bitcoin and altcoin market keeps exhibiting a high level of volatility, suggesting easy manipulation by a minute segment of participants as the case may be. This automatically signifies tangible room for growth as the ecosystem strides towards stability. Bitcoin has experienced its highest season of volatility since the turn of the year 2017. This can be attributed to the frequency of events surrounding the technology. News Impacts the Price Directions News from different sources have direct or indirect impacts on Bitcoin and the cryptocurrency ecosystem as a whole. Such news comes from governments, regulatory agencies, players within the crypto and financial ecosystem. The particular news or the source of which is most often not necessarily as important as the level of effect it
Dash price recovered well after losses against the US Dollar and Bitcoin, and now DASH/USD is testing a major resistance area at $180. Main Highlights Dash price after a monster decline towards $150 versus the US Dollar found support and started a recovery. There was a break above a major bearish trend line with resistance at $178 on the hourly chart of DASH/USD (data feed from Poloniex). The price is currently trading just around a crucial resistance area at $180. Dash’s Gains and Barriers Recently, there was a solid increase in bearish pressure on Dash price and it moved below the $160 level against the US Dollar. The price traded as low as $148.95 where it found bids and started a recovery. The upside move was decent as the price was able to break the $160-165 resis
Ethereum price maintained a bit tone against the US Dollar and Bitcoin, and ETH/USD managed to settle above the $208 resistance area. Main Highlights ETH price gained momentum from the $185 support against the US Dollar and moved higher. This week’s highlighted two bearish trend lines with resistances as $188 and $205 on the hourly chart of ETH/USD (data feed via SimpleFX) were cleared. The next major hurdle for ETH buyers is around the $226 level, which is a short-term pivot. Ethereum Recovery Attempt and Support There was a decent recovery started from the $168 low in ETH price against the US Dollar. Later, a support base was formed near $185 and the price started a substantial recovery. Buyers were able to take the price back above the $200 handle. Another im
Bitcoin price could be due for a correction to the descending channel resistance before heading further south. Bitcoin Price Key Highlights Bitcoin price is in selloff mode but could be due for a pullback to nearby resistance levels. A small double bottom pattern can be seen on the short-term time frames, signaling bearish exhaustion and potential profit-taking. Price is also moving inside a descending channel pattern on its 1-hour chart and has just bounced off support. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. The gap between the two moving averages is widening to reflect stronger bearish pressure and the 100 SMA is holding as dynamic resistance at the moment. The 200 SMA is cl...
Stellar Labs have had an ongoing program where they are giving away free Lumens to people who already hold Bitcoin. They explain this move by saying: To achieve a more inclusive digital economy. Per our mission, Stellar.org works to connect people to low-cost financial services. Giving away lumens for free is an invitation to communities to design the services they need. […] To expand the reach of the network. The availability and active use of lumens on the network will increase the network’s utility by many orders of magnitude. However, when they announced the program earlier this year, they said that users of Poloniex and other exchanges wouldn’t need to do anything: An updated page shows that they are “confirming with Poloniex,” who summarily denied having ever agreed to recei
Ethereum classic price followed ETH’s declining path versus the Bitcoin, and ETC/USD is currently facing a tough barrier near $15.00. Key Highlights Ethereum classic price followed ETH and declined heavily to trade near $12.00 against the US Dollar. There is a major bearish trend line with resistance at $14.50 formed on the hourly chart of ETC/USD (Data feed via Kraken). The price is currently correcting higher, but facing a major resistance near $15.00. Ethereum Classic Price Continued to Decline This week turned out to be super bearish for ETC price as it moved below a major support area of $15.00 against the US Dollar. The downside move was sharp, as the price declined towards $12.00 and traded as low as $11.95. It seems like the recent pressure on ETH/USD and BTC/US