Bitcoin Price Technical Analysis for 01/25/2017 – Descending Triangle Forming

Bitcoin Price Key Highlights. Bitcoin price is forming a descending triangle pattern with its lower highs and support around $315. Price is currently testing the top of the triangle near the 100 SMA, which has held as a dynamic inflection point in the past. Bitcoin price could be due for a decline to the bottom of the descending triangle, as technical indicators are showing that bears are taking control. More Sell Signals? First off, the short-term 100 SMA is below the longer-term 200 SMA, indicating that the path of least resistance is to the downside. Any pop higher from the descending....

Ethereum price seems to have its sights set higher after breaking out of a descending triangle on its 4-hour chart. Technical indicators are also supporting further gains. Ethereum price had previously consolidated inside a descending triangle pattern, forming lower highs and finding support at 0.00250. At the moment, ethereum price is testing the near-term resistance at the 0.00300 level, waiting for more bulls for another leg higher. An upside break past this level could take it up to the next area of interest at 0.00330-0.00350 then onwards to the larger triangle highs at 0.00400.

Bitcoin price is hovering around the top of its descending triangle and the top-tier market catalysts could determine if it will hold as resistance. Bitcoin Price Key Highlights. Bitcoin price has been forming lower highs and finding support near $560, creating a descending triangle formation visible on its 4-hour chart. Price is back to the triangle resistance once more, still deciding whether to make a bounce or a break. Technical indicators are giving mixed signals so far, which means that direction could hinge on market catalysts. Technical Indicators Signals. The 100 SMA is below the....

An analyst has explained how a pattern forming in the Dogecoin price may suggest a rally to $1, if historical trend repeats this time as well. Dogecoin 1-Week Price Appears To Be Forming A Classic Pattern In a new post on X, analyst Ali has discussed how DOGE seems to have been showing a classic pattern in its weekly price once again. This trend involves a technical analysis (TA) pattern called the “Descending Triangle,” which, as its name suggests, is shaped like a triangle. The pattern involves two trendlines between which the price of the asset consolidates; one of these is....

XRP's bearish outlook is driven by a mix of technical and fundamental factors that could see its price drop to $0.18 next. Ripple (XRP) price stares at potential losses in the coming weeks as it breaks out of a "descending triangle" pattern, with its bias skewed toward the downside.Major XRP breakdown underwayTo recap, XRP started forming the technical structure after reaching $1.98 in April 2021, its second-highest level to date. In doing so, the token trended lower inside a range defined by a falling resistance trendline and a horizontal support trendline.On May 16, 2022, XRP broke below....