Classic technical indicator foresees another massive Bitcoin price drop with ...
Bitcoin is forming a textbook downside continuation structure called Bearish Pennant whose ultimate breakout target lurks near $16,000. Bitcoin (BTC) has rebounded by more than 25% after bottoming out at $30,000 during the May 19 crash. But the cryptocurrency continues to tread ahead under the possibility of facing another period of strong sell-offs owing to a classic technical indicator pattern.Bitcoin price in a 'Bearish Pennant' Dubbed as Bearish Pennant, the pattern forms when an asset consolidates after a strong move downward and forms a small symmetrical triangle-like price range. It....
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Ethereum rival Enjin is facing the prospect of posting a massive breakout rally ahead, according to a classic technical indicator and a crucial network update.
XRP's bearish outlook is driven by a mix of technical and fundamental factors that could see its price drop to $0.18 next. Ripple (XRP) price stares at potential losses in the coming weeks as it breaks out of a "descending triangle" pattern, with its bias skewed toward the downside.Major XRP breakdown underwayTo recap, XRP started forming the technical structure after reaching $1.98 in April 2021, its second-highest level to date. In doing so, the token trended lower inside a range defined by a falling resistance trendline and a horizontal support trendline.On May 16, 2022, XRP broke below....
The bearish technical setup has a success rate of 62% of meeting its downside price targets. Polygon (MATIC) has dropped by more than 40% from its record high of $2.92, established on Dec. 27, 2021. But if a classic technical indicator is to be believed, the token has more room to drop in the sessions ahead.MATIC price chart painting classic bearish patternMATIC's recent rollover from bullish to bearish, followed by a rebound to the upside, has led to the formation of what appears like an inverted cup and handle pattern — a large crescent shape followed by a less extreme upside....
Ethereum classic price gained heavy bids once it traded below 0.00185BTC and bounced sharply during the past few hours. Key Highlights. Ethereum classic price made a new low against the Bitcoin, and then managed to recover sharply. There was a bearish trend line on the hourly chart of ETC/BTC (data feed via Simplefx), which the buyers managed to clear recently. The price is now back above the 0.00200BTC resistance and trading with a positive bias. Ethereum Classic Price Upside Move. Ethereum classic price was under a lot of pressure yesterday versus the Bitcoin, as it traded below the....
Ethereum classic price after diving yesterday found support at 0.0035BTC. Can ETC recover in the near term or will it move down? Key Highlights. Ethereum classic price collapsed against Bitcoin, as I was thinking and traded as low as 0.0035BTC. There was a bearish trend line formed on the hourly chart of ETC/BTC (data feed via Simplefx), which was cleared recently to ignite a recovery. A recovery in ETC may not be easy, as buyers may face a lot of sellers on the upside. Ethereum Classic Price Resistance. Ethereum classic price ETC continued to move down against Bitcoin yesterday, and....