Weak address growth points to Bitcoin price failing to sustain $25K
Active addresses did not mimic previous successful price breakout this month, one analyst says, while seemingly realized price returns as resistance. Bitcoin (BTC) is staging a repeat of price action from May with its latest drop, the latest data shows.As the dust settles on a 6% comedown for BTC/USD, analysis argues that its trip to $25,000 was never meant to last.Realized price comes back to haunt the BTC chartAfter taking some by surprise with its magnitude, the latest snap losses for BTC price action are still playing out.After falling from $23,800 to as low as $21,400 in a single....
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Bitcoin is currently trading below the $100K mark, with no clear trend in sight. After an intense period of volatility, bulls lost control last weekend, failing to sustain momentum for a breakout above all-time highs. However, bears also lack the strength to push the price significantly lower, leaving BTC in a state of consolidation. Related […]
Ethereum’s price action has been slightly underperforming that of Bitcoin as of late The cryptocurrency has remained stuck beneath its crucial resistance level at $380, which points to some weakness amongst buyers Until this level is surmounted and ETH can regain its foothold within the $400 region, it may remain somewhat technically weak One fundamental metric seems to indicate that ETH is also plagued by some underlying weakness is its daily active address count This […]
Yesterday, the price of Bitcoin was near $420 almost all the time. A Lack of news and the calm actions of investors made yesterday a quiet day in the market. Today at 3:00 p.m. London time we expect the publication of consumer confidence in December data in the US. The forecasted number of 93.3 against the previous 90.4 should have, a weak, but positive impact on the Dollar. If this indicator exceeds the forecasted number by two points, than the Dollar may get a very strong signal for growth. Today, December 29, the sideways trend is expected to continue in the corridor of $415-$440. The....
This weekend’s upward trend may actually end up recoiling into a decline. There are certain key marks will be decisive in determining the further price development. Bitcoin’s price has entered a recoil phase after stopping at the medium-term resistance of $406. Portions of traders close their positions at points like these and buyers try to make purchases at the lowest points, hoping for further growth. However, further dynamics depend on the situation at the $416.7 mark. The traders’ behavior at that level will determine the fate of the downward trend.
Key Highlights. Rubycoin's price dived down sharply after failing to break a major resistance area near 0.000511 BTC. After breaking a critical support trend line on the 4-hour chart (price feed from Bitfinex), there was a monstrous decline. After recovering a few points higher, the price declined and moved below the 0.00030 BTC support area. Rubycoin's price moved further down. There was an attempt by buyers to take the price higher, but it failed to sustain momentum. 0.0002 BTC as a Support Area. Rubycoin's price slide continued, and there was another leg down taking the price below a....