XRP Has Broken Below Its Long Standing Support, What’s Next?
XRP flashed lateral price movement at the time of writing. The coin register some gains over the last 24 hours however, it was quite minor. Bulls are not completely back in the market yet. For bulls to be back in the market, it is essential for XRP to move above the $0.60 mark. Technical outlook of XRP hasn’t completely pointed towards a recovery because the bears are still in charge of the price. The one day chart of the XRP has continued to depict bearishness on the chart. Over the last week, XRP fell by almost 7%. Although the coin has printed a symmetrical pattern on the chart,....
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It is the end of the week, and the bitcoin price looks to have settled down somewhat having experienced quite a lot of volatility across past few days. The range that we defined yesterday morning has not yet been broken, and just as we did last night, we’re going to keep it in place – well, sort of. The chart below shows action overnight, and is representative of the last circa 24 hours of action in the bitcoin price. It’s a 15-minute candlestick chart, and it has our slightly revised range overlaid. As you can see, the range in question for this morning’s price watch analysis is defined....
The relatively slight downward pressure in Bitcoin the last few days strikes me as portending a likely fall in the next week or two. Likely to the area of the support found at ~ 541 a number of weeks ago. I say this because as you can see, price has broken below the 1.618 extension of the pitchfork, as seen above. And… As you can see, it appears that resistance from the Gann 2×1 angle is stronger than the arc support at this point in time. The 2×1 has not been broken but 4th arc support has been broken. If – as seems likely – price breaks below the 4th arc pair in the next day or two, then....
Hearing more negative speculation would be unpleasant for the investors as the recent bloodbath’s catastrophic effects already slowed down crypto markets. But unfortunately, an expert predicted Bitcoin would go far below. Scott Minerd, Chief officer at Guggenheim Partners, a global investment and advisory firm handling $325 billion under its management, speculated that the Bitcoin price could plummet to $8,000. He is the same man who once said in December that “Bitcoin price should be $400,000.” Related Reading | XRP Has Broken Below Its Long-Standing Support, What’s....
Bitcoin has been bleeding for the last 48 hours. The wider crypto industry has been struggling to get over the immense choppiness. Over the last week, BTC traded between the levels of $33,000 and $28,000 respectively, today however, the king coin nosedived unhealthily. Selling pressure zoomed up and BTC lost its long standing $28,000 support mark because of that. Currently the coin has broken below the $25,000 price mark, BTC has not traded below this mark ever since December 2020. This level had fuelled a massive rally after December 2020 but BTC has continued to dip below the $25,000....
Aave has been on a downtrend since April amidst intense volatility in the market. Major altcoins have extended losses owing to a major sell off all across the cryptocurrency industry. Over the past week, the coin presented lower lows and displayed intense selling pressure. The altcoin has also experienced high trading volumes which was tied with increased selling pressure. This has also added to the falling market value of the asset on the one day chart. Fall from the current price level would mean Aave could soon eye the support region of $50. Aave has been among the top losers in the....