This Bullish Combination Has Finally Formed For Bitcoin, Rally Ahead?
On-chain data shows that a bullish combination has just formed for Bitcoin, which may signal that a rally could be ahead for the asset. Sharks & Whales Are Accumulating Both Bitcoin, Tether Right Now According to data from the on-chain analytics firm Santiment, both the sharks and whales of BTC and USDT have been accumulating recently. The metric of interest here is the “Supply Distribution,” which keeps track of the total amount of a given asset that the different holder groups carry. In the current topic, sharks and whales are the entities of interest. For Bitcoin, the....
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An on-chain signal that preceded crashes of at least 34% for Chainlink in the past has once again formed for the cryptocurrency. Chainlink 30-Day MVRV Ratio Recently Hit The 20% Mark As explained by an analyst in a post on X, the last two times the 30-day MVRV ratio broke above the 19% level, the price of LINK registered a sharp decline. The “Market Value to Realized Value (MVRV) ratio” is an indicator that measures the ratio between the Chainlink market cap and the realized cap. The “realized cap” here refers to the total amount of capital that holders of the....
Ethereum price spiked higher this past week and closed above a major hurdle against the US Dollar. More gains possible in ETH/USD moving ahead? Key Highlights. Ethereum price finally managed to gain traction this past week against the US Dollar for a move towards $11.00. There was a crucial bearish trend line formed on the daily chart of ETH/USD (data feed via SimpleFX), which was broken during the upside move. The price is currently in the bullish zone, but struggling to gain further momentum above $11.00. Ethereum Price Upside Break. This past we saw how there was an upside break in....
The price of Ethereum (ETH) looks strong and shows more strength against tether (USDT), holding up compared to Bitcoin (BTC). The price of ETH is anticipated to move with more bullish sentiment circulating as we edge closer to “The Merge.” (Data from Binance) Related Reading: ATOM Expands Over 25% In Last Week, Keeps Bullish Run Since Mid-June Ethereum (ETH) Price Analysis On The Weekly Chart The price of ETH closed the week with so much mixed sentiment ahead of the upcoming “Ethereum Merge,” with so many bullish signs lately. ETH’s price was rejected from....
Bitcoin price may be short-term bullish against the USD. Let’s have a look at the charts and try to find out how BTC/USD can be traded moving ahead. Bitcoin price continuously found bids near the $405-07 support area against the US Dollar and finally managed to trade higher. BTC traded positively against the USD and even closed above the 100 simple moving average on the 4-hours chart (data feed from Bitstamp). BTC/USD may continue to trade higher, as the bulls managed to push the price above the 50% Fib retracement level of the last drop from the $428 high to $407 low. There are currently....
The monthly RSI of Bitcoin has surpassed 80, which has historically led to larger rallies in the past. The monthly relative strength index (RSI) of Bitcoin (BTC) shows the dominant cryptocurrency is primed for another rally.Is 2021 an ideal time for a Bitcoin rally?The RSI is a momentum indicator that measures whether an asset is overbought or oversold. When the RSI surpasses 75, it signals the asset is overbought, and when it drops below 30, it means the asset is oversold.A pseudonymous trader known as “Crypto Capo” noted that the monthly RSI of Bitcoin is set to close above 80.....