XRP Price Pulls Back Slightly — Market Still Poised for Fresh Advance
XRP price started a decent increase above $2.50. The price is now correcting some gains might aim for another increase if it stays above the $2.320 level. XRP price started a downside correction from the $2.580 zone. The price is now trading near $2.40 and the 100-hourly Simple Moving Average. There is a short-term bearish trend line forming with resistance at $2.440 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it clears $2.50. XRP Price Trims Some Gains XRP price started a decent upward move above $2.420 and $2.50, like Bitcoin....
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Bitcoin price fell back from resistance ceiling earlier today as large sell orders loom overhead. As per the past two days of market action, an early-day bullish 15-minute chart condition catapults price higher, and then profit taking at the resistance ceiling near $460 and $3030 pulls price back to support. Bitcoin price has fallen away from its previous highs, but only moderately. The move may be part of a larger consolidation, but if price can hold above the 1-hour 200MA then advance to a new high is possible. The alternative, below the 1-hour 200MA, is that price returns to the $430s....
The Bitcoin price set a fresh all-time high near $125,700 before easing back as traders locked in gains and reassessed near-term risks. Despite the dip, market structure remains bullish. Spot ETF demand is accelerating, exchange balances are at multi-year lows, and macro tailwinds continue to favor “digital gold.” Related Reading: Ripple Announces Major Privacy Upgrade […]
Bitcoin looks poised to reach fresh price highs according to a flurry of crucial on-chain indicators.
Bitcoin price has fallen below long-term support during a cynical trading session today. Hopes of this downturn being a second wave prior to a rally are still alive but ailing fast as price approaches $270 (BitFinex) and 1660 CNY (BTC-China). Bitcoin Trading Pulls Price Down... Again. Time of analysis: 16h00 UTC. Bitstamp, although back online, does not have a functional ticker in its Tradingview chart, so the BTC-China chart will be analysed. BTC-China 1-Hour Chart. Price has, once again, dropped below the long-term support that held so much promise for halting the decline. A proverbial....
Bitcoin price made a full retracement of the week’s advance and seems to be finding support at the base of the prior advance. By late yesterday, price had returned to the level from which this week’s advance had launched. Just prior to this report, the market again again tested this level at 2500 CNY and $380 ($375 in some exchange charts). Without acting on such anticipation, we might see a reversal here – back to a temporary advance and later returning to this very same level being established as a new support floor near $380 and 2500 CNY. The price pattern is reminiscent of a similar....