Bitcoin, Ethereum Technical Analysis: ETH Finds Temporary Support, After Hitt...
Ethereum found support on Tuesday, following a drop to a three-week low earlier in today’s session. This comes as the price of bitcoin also consolidated, following recent bearish pressure. Bitcoin The selloff in BTC momentarily eased on Tuesday, as global markets continued to closely monitor the Russia/Ukraine situation. BTC/USD dropped to a low of $36,488.93 earlier in today’s session, which is over $3,000 lower than its high to start the week. The move saw BTC briefly break out of its long-term floor of $37,315, in what looks like a false drop, before once again....
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The Litecoin price is looking quite comfortable after yesterday's rally towards the intraday peak of 1.95. There is definitely no need to remind that the sudden upsurge has been influenced by the digital currency locomotive Bitcoin, whose very own value sky-rocketed amid a notable pump. And now when the latter is visibly attempting a new temporary support near 260, Litecoin is doing something similar around the 1.85 mark - like every time. As you can see on the 4H OKCOIN chart above, the technical indicators are exhibiting a near-term bullish bias in the market, because: The Litecoin Price....
In my yesterday's analysis, Trapped Again, I had mentioned that a breakdown below the $280-mark could lead to a free-fall in the Bitcoin price. Bitcoin cracked below $280 and is now roughly worth $250. The sudden collapse might have taken many by surprise, but the technical indicators were foretelling this. Now, the same indicators and the reformed chart structure are revealing some very noteworthy details. Bollinger Bands - The crash in Bitcoin price has severely stretched the Bollinger Bands on the lower end, which implies that a temporary support might set in soon. Fibonacci Retracement....
Ethereum is trading very flat in a dull session as bitcoin remains undecided about the future direction. Currently at 0.00191BTC, Ethereum is in a no trade zone as discussed in the previous technical analysis. Sole Positive – The technical indicators are, however, rebounding from the respective oversold levels. I would like to discuss the resistance and support levels for Ethereum now. To serve this purpose, I will be using the 4-h ETH-XBT pair. Chart Structure – The pair has been registering lower tops and lower bottoms for the past 10 trading sessions. Connecting the two highs in this....
Earlier today we published a technical analysis piece detailing the upward sloping channel through which the bitcoin price was travelling. We highlighted the fact that - from resistance around 248 - we may see a temporary correction, and that this correction would likely halt at the support offered up by the aforementioned channel. Today's action has validated this analysis, and - with the correction over - we've now returned to the upside bias on the intraday level. So what are the levels to keep an eye on to the upside as we head into the US afternoon session and beyond? Take another....
Dogecoin has undergone a massive correction of roughly 10% in the past 24 hours, with the price nose-diving from 49.8 satoshis to 45.1 satoshis. As a result of this fall, Dogecoin has neared the floor of 43 satoshis, which if cracked, could lead to a severe collapse in the price. But, will it? Let us find out with the help of technical analysis below. Technical analysis implemented on the 240-minute Dogecoin/Bitcoin price chart reveals that bears are pouncing on every opportunity to jettison Dogecoin en masse. The support of 43 satoshis may well give way to a lower ground, if bulls....