Bitcoin Nearing Retest Of Realized Price, Will Bulls Break Resistance This Time?
Data shows Bitcoin is now approaching another retest of the realized price, will the bulls be able to blow through the resistance this time? Bitcoin’s Recent Upwards Momentum Has Brought It Near Realized Price Again As pointed out by an analyst in a CryptoQuant post, BTC has spent a total of 138 days under the realized price so far since the June of this year. Before we look at the data for the Bitcoin realized price, it’s best if a basic understanding of the “realized cap” is attained first. The realized cap is calculated by multiplying each coin in the circulating....
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On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) ratio is nearing a retest that could be crucial for the asset. Bitcoin MVRV Ratio Is Nearing In On The 1.2 Level As an analyst in a CryptoQuant Quicktake post explained, the 1.2 level of the MVRV ratio has historically been a support line for the cryptocurrency. The “MVRV ratio” is an indicator that measures the ratio between the Bitcoin market cap and the realized cap. The “realized cap” here refers to a capitalization model for BTC that assumes the real value of each coin in circulation....
Binance coin (BNB) bulls look set to break key resistance with so much buying pressure that could send BNB price higher. The price of BNB looks really strong after showing some positive signs in the past few days with a lot of bids created by BNB bulls driving the price of the coin despite the market uncertainty. BNB Daily Chart Analysis The daily chart for BNB shows it is trading at $304.5 despite Bitcoin (BTC) trading at key support after falling from a region of $23,100. The price of BNB looks strong despite the market looking bearish which suggest bulls are holding on to the price of....
XRP is seen to be stuck and on tepid waters as the price is not wandering off from $0.3 to $0.39 for two months. XRP experiencing weakness with price stuck at $0.3 to $0.39 Price hinting a bearish squeeze Price nearing a breakout and a plunge of 52% The current sluggishness that XRP price is going through is severely pinning and stopping the bulls from making any move in the upward direction. Related Reading: Dogecoin Ready For 4th Straight Week Of Gains – Even Without Elon Musk’s Backing XRP Falling Short, Unable To Jump Higher On the daily chart, XRP structure has looked bullish with its....
Ethereum price managed to gain a few points, but struggled to break 100 SMA. Can the bulls manage to break it and take ETH/USD higher? Ethereum price ETH showed a few positive signs during the past couple of sessions, but ETH bulls faced a tough time to break a confluence resistance area near $11.00-10. There is a bearish trend line formed on the hourly chart (data feed via Kraken), which is positioned with the 100 hourly simple moving average to form a confluence area. ETH/USD attempted on a couple of times to break the highlighted confluence resistance area, but failed to break the same.....
Bitcoin must overcome a big hurdle at $52,000 for any chance to break new highs in the short term. Bitcoin's (BTC) price has been consolidating in the previous weeks as the sentiment and momentum have slowed to a crawl. That's very natural, as it's also impossible to throw a six every time. Therefore, consolidation and correction are necessary for the market to recharge before resuming the uptrend. Several reasons were given for such a corrective move in the previous weeks, the primary ones being whales selling in addition to macroeconomic factors, particularly the surge in Treasury....