Bitcoin Loses Momentum, Why $40k Is A Key Level For Future Gains
Bitcoin has been rejected near the $44,000 price and has been moving sideways since earlier this week. The benchmark crypto could make another attempt to break this resistance levels but will most likely remain range bound until $50,000 and $53,000 are reclaim. Related Reading | Bitcoin Aims For $48K? BTC Reacts Upward To U.S. Inflation Report As of press time, Bitcoin trades at $42,341 with a 3.5% loss in the past day. BTC’s price has performed positively after the U.S. Consumer Price Index (CPI) print, a metric used to measure inflation. Before the report came out, the order book....
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Bitcoin price is back below $55,000, unable to keep its bullish momentum it had leading into the Coinbase Global listing. Since then, things have turned down. The fall back below $60,000 has with it also taken the coin below a critical life-saving support level that’s been untouched since late 2020. Bitcoin Loses Life-Saving Support Level, […]
Crypto analyst MadWhale has raised the possibility of the XRP price experiencing a breakdown below the crucial $2 support level. The analyst also revealed the next major support if XRP drops below this support level. XRP Price Could Drop To $1.90 If It Loses $2 Support In a TradingView post, MadWhale predicted that the XRP price could drop to the major support at $1.90 if it loses the psychological $2 level. He noted that XRP has demonstrated a classic triple-top formation, with each successive peak showing weaker momentum. In line with this, the analyst asserted that a break below the 42....
Ethereum price rallied above the $1,700 resistance against the US Dollar. ETH struggled near $1,750 and is currently correcting gains. Ethereum gained momentum above the $1,660 and $1,670 levels. The price is trading above $1,700 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now correcting gains from the $1,750 resistance. Ethereum Price Rally Stalls Ethereum’s price was able to start a decent increase from the $1,620 zone. ETH formed a base and....
Seven days ago Bitcoin’s network difficulty saw the largest drop in nine years as it slid over 16% last week. Similar to the crypto asset’s price, the hashrate has been extremely volatile according to statistics. After dropping to 111 exahash per second (EH/s), the network hashrate spiked a whopping 45% on Tuesday morning to 161 EH/s before sliding back to 120 EH/s. Bitcoin’s hashrate, much like the price of bitcoin (BTC), has been jumping around during the last few days. The crypto asset’s hashrate is the measurement of processing power pointed at the network. In....
The Uniswap price had risen to almost $6 on its chart, but the bulls were unable to maintain that level. Over the last 24 hours, the coin again lost momentum and fell south on its chart. Over the last 24 hours, UNI registered a 0.9% increase in its price. In the past week, the coin negated most of its gains and lost 1.2% of its market value. The Uniswap price technical outlook was bearish, and selling strength was higher, causing the price to drop further on its chart. Although Uniswap tried to move in a different direction than the broader market, the bulls gave up. Bitcoin also lost the....