$5K Bounce? Bitcoin Price May Have Hit Bottom For Now

Bitcoin (BTC) could be in for a stronger recovery rally in the next few days, having found a temporary bottom near $4,000. The leading cryptocurrency, which hit a 14-month low of $4,048 on Bitstamp yesterday, is now trading at $4,580, representing a 2 percent gain on a 24-hour basis. The $500 recovery seen yesterday indicates that the market is finally paying heed to the record oversold levels reported by the 14-day relative strength index (RSI). Currently, the indicator is still hovering in oversold territory below 30.00. As a result, BTC…

Bitcoin Price Watch: BTC/USD Could Recover Toward $4,800

Key Points Bitcoin price extended losses and traded close to the $4,000 support against the US Dollar. There was a break above a major bearish trend line with resistance at $4,451 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price seems to be preparing for an upside correction towards the $4,800 level in the near term. Bitcoin price declined towards $4,000 before buyers appeared against the US Dollar. BTC/USD could correct higher towards the $4,750 or $4,800 resistance. Bitcoin Price Analysis Yesterday, we discussed that…

Cardano Price Analysis: ADA/USD Settled Below Key $0.05 Support

Key Highlights ADA price fell sharply and declined below the $0.0600 and $0.0500 support levels against the US Dollar (tethered). There is a major bearish trend line formed with resistance at $0.0490 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is currently trading well below the $0.0500 support and it could decline further. Cardano price declined below key supports against the US Dollar and Bitcoin. ADA/USD may correct higher, but it could face sellers near $0.049 and $0.050. Cardano Price Analysis During the past…

Ripple Finally Suffers Major Price Drop as Crypto Market Wipes Out $12B

Twitter Facebook LinkedIn The intense downtrend of the crypto market is finally having a toll on the best performing digital asset of the month. Ripple (XRP), now the second most valuable cryptocurrency in the market, is no longer up in value on a monthly basis. Throughout the past 30 days, XRP has maintained the $0.5 level relatively well with minimized losses even during a period in which the price of BTC and other major cryptocurrencies fell by around 10 to 20 percent. What Caused XRP to Drop? As a liquidity…

Ripple Price Analysis: XRP/USD’s Support Turned Resistance

Key Highlights Ripple price declined recently below the $0.4520 support and tested $0.4000 against the US dollar. There is a major bearish trend line formed with resistance at $0.4600 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct higher, but the previous support at $0.4520 may act as a resistance. Ripple price failed to hold gains against the US Dollar and Bitcoin. XRP/USD declined towards $0.4000 and it is currently correcting higher. Ripple Price Analysis Yesterday, we saw how ripple price was resilient…

Ethereum Price Analysis: ETH/USD Consolidating Above $120 Support

Key Highlights ETH price declined heavily and traded close to the $120 support level against the US Dollar. Yesterday’s highlighted key bearish trend line is intact with resistance at $138 on the hourly chart of ETH/USD (data feed via Kraken). The pair needs to climb above the $138 and $140 resistance levels to start a decent recovery. Ethereum price is trading near key supports against the US Dollar and bitcoin. ETH/USD must stay above $120 to recover in the short term. Ethereum Price Analysis Yesterday, we discussed that ETH price…

Bitcoin Cash Price Analysis: BCH/USD Recovery Faces Hurdle Near $280

Key Points Bitcoin cash price declined further and traded close to the $200 support against the US Dollar. This week’s followed important bearish trend line is still in place with resistance at $280 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair could find it difficult to clear the $275 and $280 resistance levels in the near term. Bitcoin cash price tested the $200 support area and recovered against the US Dollar. However, BCH/USD is facing a solid resistance near the $280 level. Bitcoin Cash…

Bitcoin Cash Price Sets New Yearly Low as Exchanges Open BCH Trading

Twitter Facebook LinkedIn It has been five days since the Bitcoin Cash fork began and crippled the stability of the BCH ecosystem, and the worst part is that it is not looking to recover anytime soon. The BCH/USD pair on Tuesday dropped another 40 percent — on paper, anyway (most exchanges paused BCH trading ahead of the fork and are consequently seeing all of the recent market losses realized at once) — setting new yearly lows at 237.14-fiat. There were no signs of upside recoveries that could stand for long.…

High Volumes and Shrinking BTC/USD Trade Range Positive for Price

It’s not what maximalists want to see but for institutions to flock in then regulators must be in the picture. This is part of the reason why the launch of Bakkt Daily Bitcoin futures has been put off to Jan 24, 2019. Hopefully, if all requirements are met and goes live in Jan 2019 then BTC/USD prices would print higher recouping this year’s losses. Latest Bitcoin News Even in a system that is meant to thrive without oversight or government intervention, regulatory involvement is to some degree necessary as the…