Bitcoin Price Analysis: Steady Downtrend (Week of APR 19)
The Bitcoin price continues its long steady decline. Last week we said: “Bitcoin price has continued experiencing downside pressure and as of this writing the price looks headed for a retest of the 200 area. Last week’s recap: If US$240 doesn’t hold, the US$220 area could provide minor support, but U$200 would more likely be an area to watch for bigger support. If it fails to hold, a retest of the lows (US$165-180) will certainly be the next area to watch […].” The price proceeded downward as we stated to reach US$210 before it rallied back up above minor support at US$220. As of this....
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The Bitcoin price continues its long steady decline, but has been range bound within a larger decline. This has been a tricky place as the price has whipsawed around. This happens when price heads in one direction, but then is followed quickly by a movement in the opposite direction. The price started the week at US$224 and while we expected the price to go down and test the US$210 and then US$200 levels, it instead went up to US$240, breaking through some minor resistance levels before heading back down and hitting near our $210 level, where it has bounced off support and is, at the time....
After a sharp spike off a support level, litecoin price is still exhibiting a steady downtrend and is testing the moving average on its 1-hour time frame from Bitfinex. If the short-term MA (red) continues to hold, price could retest its former lows and perhaps make new ones. Technical indicators on the same time frame confirm that the cryptocurrency is set to weaken in the short term. The shorter-term EMA (red) is moving below the longer-term EMA (green), confirming the presence of bearish pressure. In addition, the moving averages are edging further apart, which means that the selling....
Feathercoin. The Feathercoin price fell 15% this week. This price decline is a continuation of the steady downtrend Feathercoin has experienced since the Feathercoin price rose in anticipation of the altcoin's switch from the Scrypt algorithm to the ASIC-resistant (for now) NeoScrypt hashing algorithm. Also read: Feathercoin Price Rises Ahead of NeoScrypt Hard Fork. Feathercoin Price Continues to Decline. Since the pre-NeoScrypt spike in October, the Feathercoin price has steadily declined. However, the Feathercoin price had remained fairly steady at ~7,000 satoshis since mid-November. But....
Bitcoin, among other coins, saw both an increase in price followed by a hefty decrease in price shortly after. Bitcoin broke $300 after nearly a month of steady price gains. Unfortunately, the price was not able to stay there for more than a couple of days and since then price has fallen. While the price has attempted on multiple occasions for reentry into $300, the highest Bitcoin has been this week $294. Price has continued to decline and seems to be hovering in the upper $270’s as of right now, equating to a 4% decline for this week. With a current price at $276.95, and 24-H volume of....
Ethereum Price Key Highlights. Ethereum price has broken above a short-term descending trend line and has been on a steady climb, but it is encountering a bit of resistance at an area of interest. This lines up with the Fib levels and a former consolidation area, which suggests that plenty of limit orders are located there. Ethereum price is still deciding where to go from here, as a selloff could bring it back to the previous lows while an upside breakout could confirm the bull run. Rally Overdone? Technical indicators seem to be suggesting that the rally is overdone, as RSI and....