XRP Flirts With A Daily Range Breakdown – Price Must Hold Above $2 Level
XRP has fallen below the $2 mark for the first time since early February, following the broader market breakdown that has pushed most cryptocurrencies lower. Despite the intense selling pressure, XRP has held up stronger than many other altcoins, avoiding the steep declines seen across the market. However, uncertainty remains high, with analysts divided on XRP’s next move. Related Reading: Charts Reveal Cardano Holds Key Support Zone – Staying Above Could ‘Set The Next Move’ Some experts believe that if XRP can reclaim key resistance levels, it could trigger a recovery rally, bringing back....
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Strongly bearish fundamentals act as tailwind to Avalanche's technically bearish setup. Avalanche (AVAX) gained 0.5% to reach over $31 on May 23 but AVAX price remains trapped inside a trading range that appears like a "bear pennant" structure.Avalanche could get buried technicals Bear pennants are bearish continuation patterns, i.e., they resolve after the price breaks out of them to the downside and then—as a rule of technical analysis—falls by as much as the height of the previous downtrend, also called "flagpole."AVAX is nearing a technical breakdown as its price moves toward the....
In this morning's twice-daily bitcoin price watch piece, we published our expectations for the day's session across Europe. We suggested a number of the key levels that we would be keeping an eye on as action in the bitcoin price matured throughout the day, and pointed out where we would look to enter and exit in the event that we got a breakout according to our scalp strategy. Now action has matured throughout the day, are we saw watching the same levels, did we manage to gain on any positions today, and what are we looking at moving forward? Take a quick look at the chart below. As the....
The price of Bitcoin remains stuck in a downtrend after failing to close above $50,000. The price of Bitcoin (BTC) has failed to break above the psychological $50,000 resistance going into the weekend and has dropped below the $48,000 level on March 6. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingviewNow traders are watching whether BTC/USD can break above the $50,000 level to resume the bull cycle. Conversely, a drop below the recent lows below $46,000 will likely open the door to new lower lows, which may then pose a threat to the bull run that has been in place for almost a....
In my previous Bitcoin price technical analysis First Conclusive Sign of Breakdown?, we discussed how the cryptocurrency was being pressured below its near-term support but also advised the market participants to wait for a close below $220 for a more reliable confirmation. As can be seen, even though Bitcoin closed below its support level, it did not violate the strong floor provided by $220 and has instead jumped up to $230.36. And this is not the end of it. The cryptocurrency has managed to cross two major trendline hurdles and is making repeated attempts to head higher. Let us discuss....
The daily pump & dump is a weekday update on the crypto market providing you with an abbreviated breakdown of price action related to Bitcoin, Ethereum, and other trending altcoins. Today’s summary: Bitcoin retests $30,000 after a rejection. Why is Ethereum lagging behind the rest of crypto? ICP posts insane intraday rally. Bitcoin Retests $30,000, Can The Key Level Hold? Bitcoin price was fiercely rejected from resistance at $32,000, sending the cryptocurrency back to retest support at $30,000. The fall took BTCUSD daily to the middle-Bollinger Band – which is a 20-day simple....