TA: Bitcoin Remains In Downtrend, What Could Spark Sharp Upside
Bitcoin is trading in a bearish zone below $19,500 against the US Dollar. BTC might start a sharp recovery wave if there is a move above the $19,500 resistance. Bitcoin failed to gain pace above the $19,500 and $19,600 resistance levels. The price is now trading below the $20,000 level and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $19,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh decline unless there is a move above the $19,500 resistance zone. Bitcoin Price Eyes Upside Break....
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Ethereum fell to $2,930 before correcting higher against the US Dollar. ETH price is rising and a close above $3,200 could spark a strong recovery. Ethereum extended decline and broke the $3,000 support zone. The price is trading below $3,200 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $3,110 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a major recovery wave if there is a close above $3,200. Ethereum Price Eyes Steady Recovery Ethereum failed to climb above $3,200 and extended its decline.....
Because investors had been scrambling to buy XRP in order to lay claim to a corresponding amount of Spark tokens, the altcoin had its most significant bullish breakout in years. Ripple network activity post-Flare airdrop suggests that the asset has fundamentally lost its spark, but technicals might on the flipside suggest that the spark was […]
Ethereum is struggling below $1,080 against the US Dollar. ETH could decline heavily if there is a close below the $1,000 support zone. Ethereum remained in a bearish zone below $1,100 and $1,080 levels. The price is now trading below $1,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,050 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline again unless there is a clear move above the $1,120 resistance zone. Ethereum Price Remains At Risk Ethereum remained in a bearish zone and retested the $1,000 support....
Bitcoin price is currently trading at slightly above $26,000 per coin, but is still reeling after last week’s 10% single day selloff. The situation looks dire for crypto bulls who were hoping for a more significant recovery to begin after such prolonged sideways. However, the bullish market structure remains unbroken. Let’s take a closer look at what exactly this means and why the 2023 uptrend is still intact. Recapping Recent BTCUSD Volatility After a solid start to 2023 – certainly a year that’s been kinder to the king of cryptocurrency than 2022 – BTCUSD has bears....
Bitcoin price made a quick spike down but the uptrend remains intact as bulls look eager to defend the floor. Bitcoin Price Key Highlights. Bitcoin price was on a steady climb when it suddenly made a sharp selloff close to $1000. Price quickly recovered from this drop and resumed trading back to its previous levels. This suggests that bullish pressure is very strong and that buyers are simply waiting for cheaper levels to load up on their long positions. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside. In....