XRP Price Rebound Stalls, New Downside Threats Start Building

Key Highlights. The Bitcoin price recently corrected higher after declining close to the ¥1800 level. It looks like the price has completed the correction phase and may start trading lower once again. There was a major support trend line formed on the hourly chart (price feed from BTCChina), which was broken to ignite a downside move. Bitcoin price rebound from the ¥1811 low is likely completed and it may start to move lower if sellers gain momentum. Retest of ¥2000 Likely? The Bitcoin price managed to gain bids near the ¥1800 support area and managed to recover some ground. However, it....

The bullish outlook appears as ETH’s price decline stalls near its old cup-and-handle resistance level, now acting as support and thus raising the potential of a strong rebound ahead. Ethereum’s native asset, Ether (ETH), may rebound by nearly 60% in the coming sessions as bulls pin their hopes on a classic bullish continuation pattern.Prices may rise to or above $6,500 from their current levels near $4,100 after completing a cup-and-handle formation, hinted Matthew Hyland, an independent on-chain analyst, in a tweet published Monday. A perfect cup and handle retestHyland’s chart shows....

A rebound towards the upward trend continues. Will there be a trend on the weekend? What is the likely point of start of the new impulse? The minimal target of a rebound towards the whole upward movement which started at $403 has not been reached. There won’t be a full correction until we see one more downward wave. The $412 level is profitable for the bears, because it’s the “cheapest” price for further movement within the upward trend. That point will be the minimal target for a rebound.

Bitcoin is continuing its upward movement. The short-term upward structure can turn out to be a wave of a flat, which will be followed by a downward rebound. Is the downward rebound over? The minimal correction targets have been reached, so the movement is about to be decided. Bitcoin’s price has fortified inside a flat, at the level of $540, and an upward impulse followed. But Bitcoin’s price did not go beyond the weekly flat’s limits ($518-560). Hence, there is a probability of a continuation of that flat. If that is the case, Bitcoin’s price is likely to rebound around $560, and form a....

XRP price started a downside correction from the $2.25 zone. The price is now consolidating and facing hurdles near the $2.20 level. XRP price started a fresh decline from the $2.250 zone. The price is now trading below $2.20 and the 100-hourly Simple Moving Average. There is a new connecting bearish trend line forming with resistance near $2.1950 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if there is a close above the $2.20 resistance. XRP Price Dips Again XRP price failed to remain stable above $2.25 and started a downside....