Bitcoin Price Drops 5%—Is the Downtrend Back in Control?
Bitcoin price corrected gains and traded below the $88,000 support zone. BTC is now consolidating and might struggle to clear the $88,500 zone. Bitcoin started a fresh decline from the $90,500 zone. The price is trading below $88,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $89,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move up if it settles above the $85,000 zone. Bitcoin Price Dips Further Bitcoin price failed to gain strength for a move above the $90,000 and $90,500 levels. BTC....
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Neucoin Price Key Highlights. Neucoin price is on a downtrend, after breaking below a double top pattern earlier in the month. Price is also moving inside a descending channel since the start of the week and is on its way to test the resistance. Neucoin price could be in for yet another round of losses if the top of the descending channel continues to hold as resistance. Next Potential Support Level. If the selloff resumes around the current levels, neucoin price could make its way back down to the channel support near 0.000020. Stochastic is on the move down, which means that sellers are....
Potcoin Price Key Highlights. Potcoin price could be in for more downside, as it appears ready to make a downside break of the current consolidation pattern. The path of least resistance is down since potcoin price is already in the middle of a downtrend. Potcoin price could be in for more losses, pending a likely downside breakout from the current consolidation support level. Testing Range Support. Potcoin price is currently testing the range support at 0.00000250BTC and might be due for a breakdown, as a long red candle has formed. The 100 SMA is below the longer-term 200 SMA, indicating....
Litecoin Price Key Highlights. Litecoin price has suffered a quick selloff recently and has since showed signs of a pullback. Price appears to be finding resistance at the 50% Fibonacci retracement level around 3.250 and might be ready to resume its drop. If the correction wave for litecoin price is done, the impulse wave could take price down to the previous lows at 3.050 or much lower. Technical Indicators Favor Downtrend. Apart from the inflection points already keeping gains in check, leading and lagging indicators suggest that litecoin price is ready to head back south. The 100 SMA is....
Bitcoin has seen some rocky price action as of late, with bulls and bears battling for control over the cryptocurrency’s mid-term outlook. So far, this has resulted in the cryptocurrency seeing some bearish momentum, with sellers taking general control over its trend. This may soon change, however, as buyers are in the process of pushing […]
The crypto market continues on its downtrend, and VeChain (VET) follows after expiring some relief over the last weekend. The cryptocurrency recently breached a major level of support and seems poised to expand its downside price action. Related Reading | Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode At the time of writing, VET’s price trades at $0.022 with a 3% and 32% loss over the last 24 hours and the past month respectively. According to crypto analyst Justin Bennett, VeChain lost a major area of support when it broke below $0.024. As seen below, this....