Author Archives: Aayush Jindal

Ethereum Price Analysis: ETH Trading Near Crucial Turning Point

  • Ethereum price declined recently and revisited the key $113 and $114 supports against the US Dollar.
  • ETH is trading below a crucial bearish trend line with resistance at $120 on the 4-hours chart (data feed from Coinbase).
  • The price will most likely make the next significant move either above $120 or below $113 in the near term.

Ethereum price is under a lot of pressure below the $120 pivot level against the US Dollar. ETH is preparing for the next break either above $120 or towards $100 in the coming sessions.

Ethereum Price Analysis

In the past few days, there were mostly bearish moves below $135 in Ethereum price against the US Dollar. The ETH/USD pair declined from the $160 swing high and settled below the $140 and $138 support levels. It traded towards the $113 and $114 support levels and later recovered a few points. The price climbed above the $120 and $125 levels, but it struggled to gain traction above $130-132. As a result, there was a fresh decline and a few swing highs were formed near $128 and $126. The last swing high was near $126 before the price retested the $113 support area.

It is currently trading a few points above the $113 support. An immediate resistance is the 23.6% Fib retracement level of the recent drop from the $127 swing high to $113 swing low. More importantly, there is a crucial bearish trend line in place with resistance at $120 on the 4-hours chart. Above the trend line, the 50% Fib retracement level of the recent drop from the $127 swing high to $113 swing low is near $120. Finally, the 55 simple moving average (4-hours) is positioned near the $121 level. Therefore, a break above the $120-121 resistance zone is must for a fresh recovery.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price seems to be preparing for the next significant move either above $120 or below $113. Above $120-121, the price may test $130, and below $113, the price could test $100.

Technical indicators

4-hours MACD – The MACD for ETH/USD is placed heavily in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for ETH/USD is currently well below the 35 level.

Key Support Level – $113

Key Resistance Level – $121

The post Ethereum Price Analysis: ETH Trading Near Crucial Turning Point appeared first on Live Bitcoin News.

Source: Bitcoin News

Bitcoin Cash (BCH) Near Crucial Juncture, Can Buyers Gain Momentum?

  • Bitcoin cash price extended declines recently and broke the $140 support level against the US Dollar.
  • There is a crucial bearish trend line in place with resistance at $135 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
  • The pair is positioned for the next major move either above $135 or below $120 in the near term.

Bitcoin cash price traded below the $150 and $140 supports against the US Dollar. BCH is now looking for the next key break either above $135-140 or towards $100 in the near term.

Bitcoin Cash Price Analysis

Recently, bitcoin and Ethereum faced an increased selling pressure, which dragged bitcoin cash price below $140 against the US Dollar. The BCH/USD pair formed a high near the $163 level and later declined steadily below $150. It broke the $140 and $135 support levels to move into a bearish zone. The price tested the $120 support, where buyers emerged and protected losses. A low was formed near $120.5 and later the price started consolidating losses. It corrected a few points above the $125 and $127 levels.

There was also a break above the 23.6% Fib retracement level of the recent decline from the $163 high to $120 low. However, buyers failed to hold gains above $130 and there was no test of the 55 simple moving average (4-hours). The price trimmed gains and it is currently trading well below $130. More importantly, there is a crucial bearish trend line in place with resistance at $135 on the 4-hours chart of the BCH/USD pair. A proper break above the trend line could open the doors for more gains. The next key resistance is $140 and the 50% Fib retracement level of the recent decline from the $163 high to $120 low.

Bitcoin Cash Price Analysis BCH Chart

Looking at the chart, bitcoin cash price is clearly positioned for the next major move either above $135 or below $120. If there is a downside break below $120, the price may test the $100 support.

Technical indicators

4-hours MACD – The MACD for BCH/USD is currently flat in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for BCH/USD is struggling to move above the 50 level.

Key Support Level – $130

Key Resistance Level – $120

The post Bitcoin Cash (BCH) Near Crucial Juncture, Can Buyers Gain Momentum? appeared first on Live Bitcoin News.

Source: Bitcoin News

Cardano (ADA) Remains Bullish, Could Revisit $0.0500

  • ADA price corrected lower and found support near the $0.0400 level against the US Dollar.
  • There is a major bullish trend line formed with support at $0.0415 on the 4-hours chart (data feed via Kraken).
  • The price is trading with a positive bias and it may continue to grind towards $0.0480 or $0.0500.

Cardano price is placed nicely in an uptrend against the US Dollar and Bitcoin. ADA could gain bullish momentum towards $0.0500 if there is a clear break above $0.0465.

Cardano Price Analysis

After a massive rally above the $0.0550 level, cardano price started a downside correction against the US Dollar. The ADA/USD pair declined below the $0.0500 and $0.0465 support levels to trim most its gains. It even traded below the $0.0420 support before buyers emerged near the $0.0400 support. A swing low was formed near $0.0391 before the price started an upward move. Buyers gained strength recently and pushed the price above $0.0420. The price even traded above the 23.6% Fibonacci retracement level of the recent decline from the $0.0546 swing high to $0.0391 low.

Currently, the 55 simple moving average (4-hours) is acting as a resistance near the $0.0450 level. The next key resistance is near the $0.0465 and $0.0466 levels. Besides, the 50% Fibonacci retracement level of the recent decline from the $0.0546 swing high to $0.0391 low is near $0.0469. Therefore, a proper break above the $0.0465 and $0.0469 levels may clear the path for more gains. The next stop for buyers could be $0.0500 or $0.0515. An intermediate resistance is $0.0487 and the 61.8% Fibonacci retracement level of the recent decline. On the flip side, if there is a downside correction, the $0.0435 and $0.0420 levels may act as support.

Cardano Price Analysis ADA Chart

The chart indicates that ADA price remains well supported on the downside above $0.0400. There is also a major bullish trend line formed with support at $0.0415. Therefore, there are high chances of more gains above $0.0465 and $0.0480.

Technical Indicators

4-hours MACD – The MACD for ADA/USD is moving nicely in the bullish zone.

4-hours RSI – The RSI for ADA/USD is well above the 50 level, with a bullish angle.

Key Support Level – $0.0420

Key Resistance Level – $0.0465

The post Cardano (ADA) Remains Bullish, Could Revisit $0.0500 appeared first on Live Bitcoin News.

Source: Bitcoin News

Bitcoin Price Analysis: Here’s Why BTC’s Recovery Won’t Be Easy

  • Bitcoin price declined recently and settled below the $3,700 support area against the US Dollar.
  • There was a break below a crucial contracting triangle with support at $3,780 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).
  • The price tested the next important support at $3,480 and it is currently consolidating losses.

Bitcoin price is struggling to gain bullish momentum above $3,700 against the US Dollar. BTC must stay above $3,480 to avoid a downside break towards $3,200 in the near term.

Bitcoin Price Analysis

After trading as high as $4,117, bitcoin price faced a fresh round of selling against the US Dollar. The BTC/USD pair started a sharp downward move and broke the $4,000, $3,800 and $3,750 support levels. There was even a close below the $3,700 level and the 55 simple moving average (4-hours). It opened the doors for more losses and the price traded below the $3,600 support.

More importantly, there was a break below a crucial contracting triangle with support at $3,780 on the 4-hours chart of the BTC/USD pair. The pair even spiked below the $3,500 support before buyers took a stand near the $3,480 support area. Later, the price started consolidating losses and corrected above the $3,600 level. Buyers pushed the price above the 23.6% Fib retracement level of the last decline from the $4,117 high to $3,478 low. However, the $3,700 pivot level acted as a strong resistance and prevented an upside break. Besides, there is a connecting bearish trend line in place with resistance at $3,640 on the same chart.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price must gain strength above the trend line and the $3,700 resistance to move into a positive zone. The next hurdle is near $3,800 and the 50% Fib retracement level of the last decline from the $4,117 high to $3,478 low. Alternatively, a downside break below $3,480 may push the price towards $3,330 or $3,220.

Technical indicators

4-hour MACD – The MACD for BTC/USD is placed in the bearish zone, with hardly any positive sign.

4-hour RSI (Relative Strength Index) – The RSI is currently well below the 50 level.

Key Support Level – $3,480

Key Resistance Level – $3,700

The post Bitcoin Price Analysis: Here’s Why BTC’s Recovery Won’t Be Easy appeared first on Live Bitcoin News.

Source: Bitcoin News

Ethereum Price Analysis: ETH Rally Approaching Significant Barrier

  • Ethereum price corrected higher after testing the $113.114 support area against the US Dollar.
  • ETH is heading towards a major bearish trend line with resistance at $135 on the 4-hours chart (data feed from Coinbase).
  • The price may struggle to surpass the $132, $135 and $138 resistance levels in the near term.

Ethereum price gained traction above the $120 barrier and rallied above $126 against the US Dollar. However, ETH is likely to fail near the $135-138 resistance zone.

Ethereum Price Analysis

This past week, we saw a significant decline in Ethereum price from the $159.40 swing high against the US Dollar. The ETH/USD pair declined heavily and broke the $150.00, $142.00 and $124.00 support levels. There was even a close below the $136 pivot and the 55 simple moving average (4-hours). Sellers gained traction and pushed the price below the $120.00 support area. A new monthly low was formed at $113.67 and later the price formed a support base.

It seems like $113-114 zone acted as a solid support, resulting in a sharp upside correction. The price moved above the 23.6% Fib retracement level of the last decline from the $159 swing high to $113 swing low. It spiked above the $130 level and moved into a positive zone. At the moment, the price is consolidating below $130, with a few bearish signs. On the upside, there is a strong resistance near $135-138. There is also a major bearish trend line in place with resistance at $135 on the same chart. Besides, the 50% Fib retracement level of the last decline from the $159 swing high to $113 swing low is at $136.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price is clearly facing a solid resistance near the $135 and $136 levels. A clear break above the $136 level and the 55 simple moving average (4-hours) is needed for more gains. On the downside, the main supports are at $124 and $120.

Technical indicators

4-hours MACD – The MACD for ETH/USD moved back nicely in the bullish zone, with a positive bias.

4-hours RSI (Relative Strength Index) – The RSI for ETH/USD jumped back sharply above the 50 level.

Key Support Level – $124

Key Resistance Level – $136

The post Ethereum Price Analysis: ETH Rally Approaching Significant Barrier appeared first on Live Bitcoin News.

Source: Bitcoin News

Ripple Price Analysis: XRP Trading Near Make-or-Break Levels

  • Ripple price declined recently and broke an important support at $0.3400 against the US dollar.
  • There was a break below a crucial contracting triangle with support at $0.3620 on the 4-hours chart of the XRP/USD pair (data source from Poloniex).
  • The pair tested the key $0.3185 support, below which it could test the $0.2975 support.

Ripple price moved into a bearish zone below $0.3400 against the US Dollar. XRP must hold $0.3185 or it might decline towards $0.2975 and $0.2920 in the near term.

Ripple Price Analysis

In the last analysis, we discussed a possible upside break if ripple price clear the $0.3900 resistance against the US Dollar. However, the XRP/USD pair struggled to gain momentum above the $0.3900 and $0.3920 levels. As a result, there was a bearish reaction and the price declined below the $0.3800 and $0.3600 support levels. The decline was strong as the price broke the key support near $0.3620 and the 55 simple moving average (4-hours).

More importantly, there was a break below a crucial contracting triangle with support at $0.3620 on the 4-hours chart of the XRP/USD pair. The price even broke the $0.3200 level and tested the next main support at $0.3185. A low was formed near $0.3185 and the price later started an upside correction. An initial resistance is near the $0.3360 level. It coincides with the 23.6% Fib retracement level of the recent downside move from the $0.3917 high to $0.3185 low. However, the main resistance is near the $0.3550 level and the 55 simple moving average (4-hours). The 50% Fib retracement level of the recent downside move from the $0.3917 high to $0.3185 low is also positioned near $0.3550.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is trading above the key $0.3185 support. It could correct higher in the short term, but buyers are likely to struggle near $0.3550. On the downside, if there is a break below $0.3185, the next important support is at $0.3000 and $0.2975.

Technical indicators

4-hours MACD – The MACD for XRP/USD is showing negative signs in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 40 level.

Key Support Level – $0.3185

Key Resistance Level – $0.3550

The post Ripple Price Analysis: XRP Trading Near Make-or-Break Levels appeared first on Live Bitcoin News.

Source: Bitcoin News

Tron (TRX) Rally Unwinds, But Buyers Still In Control

  • Tron price rallied recently and traded above the $0.0275 and $0.0340 resistances against the US Dollar.
  • There is a major bullish trend line in place with support at $0.0240 on the 4-hours chart (data feed via Bitfinex).
  • The price remains supported near $0.0240 and $0.0220 and it could soon bounce back above $0.0280.

Tron price blasted higher this week above $0.0300 and later trimmed most gains against the US Dollar and Bitcoin. TRX still remains supported and it may soon climb higher again.

Tron Price Analysis

This week, there was a sharp upward move from the $0.0220 support in tron price against the US Dollar. The TRX/USD pair gained traction and broke the $0.0275 and $0.0340 resistance levels. The price traded close to the $0.0360 level and a high was formed at $0.0357. Later, bitcoin, Ethereum and ripple declined heavily and dragged tron into a bearish zone. It broke the $0.0320 and $0.0300 support levels. Moreover, there was a break below the 50% Fibonacci retracement level of the last wave from the $0.0191 low to $0.0357 high.

However, the decline was protected by the $0.0250 and $0.0240 support levels. There is also a major bullish trend line in place with support at $0.0240 on the 4-hours chart. The trend line coincides with the $0.0242 pivot and the 55 simple moving average (4-hours). Finally, the 61.8% Fibonacci retracement level of the last wave from the $0.0191 low to $0.0357 high is also at $0.0254. Therefore, as long as the price is above the $0.0240 and $0.0220 support levels, it could resume its bullish moves. On the upside, an initial resistance is at $0.0275 and $0.0280. A close above $0.0280 may trigger moves above $0.0300 in the near term.

Tron Price Analysis TRX Chart

The chart indicates that TRX price is still trading above key supports near $0.0240 and 55 simple moving average (4-hours). Buyers could make another run and lead the price towards $0.0300 and $0.0320.

Technical Indicators

4-hours MACD – The MACD for TRX/USD is moving back in the bullish zone, with a positive bias.

4-hours RSI – The RSI for TRX/USD is still above the 50 level, with a flat structure.

Key Support Level – $0.0240

Key Resistance Level – $0.0280

The post Tron (TRX) Rally Unwinds, But Buyers Still In Control appeared first on Live Bitcoin News.

Source: Bitcoin News

Ripple Price Analysis: XRP Poised for Bullish Break Above $0.40

  • Ripple price is currently consolidating above the $0.3400 support with bullish moves against the US dollar.
  • There is a major contracting triangle formed with resistance at $0.3820 on the 4-hours chart of the XRP/USD pair (data source from Poloniex).
  • The pair is likely to break the triangle resistance and $0.3950 for more gains in the near term.

Ripple price is trading with a bullish bias above $0.3400 against the US Dollar. XRP could gain bullish momentum above $0.4000 once there is a break above $0.3820.

Ripple Price Analysis

After a significant drop, ripple price found support near the $0.3400 level against the US Dollar. The XRP/USD pair traded as low as $0.3396 and later started a decent recovery. It moved above the $0.3500 and $0.3600 resistance levels. Besides, there was a break above the $0.3800 level and the 55 simple moving average (4-hours). The price even broke the 23.6% Fib retracement level of the downside move from the $0.4664 high to $0.33950 low.

However, the upside move was capped by the $0.4000 resistance area. Buyers even failed to test the 50% Fib retracement level of the downside move from the $0.4664 high to $0.33950 low. Later, the price declined a few points below $0.3800 and started trading in a range. At the outset, there is a major contracting triangle formed with resistance at $0.3820 on the 4-hours chart of the XRP/USD pair. The pair needs to break the $0.3820 resistance to set the pace for more gains. The next resistance is at $0.3950, above which the price could clear the $0.4000 barrier. Finally, above $0.4000, the price may test $0.4180 and the 61.8% Fib retracement level of the downside move.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is clearly preparing for the next key break either above $0.3820 or below $0.3620. If there is a downside break below $0.3620 and $0.3600, the price could drop to the $0.3400 support.

Technical indicators

4-hours MACD – The MACD for XRP/USD is slightly placed in the bearish zone, with a flat structure.

4-hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently near the 53 level.

Key Support Level – $0.3600

Key Resistance Level – $0.3820

The post Ripple Price Analysis: XRP Poised for Bullish Break Above $0.40 appeared first on Live Bitcoin News.

Source: Bitcoin News

Ethereum Price Analysis: ETH Near Make-or-Break Levels

  • Ethereum price revisited the $160 resistance where sellers emerged against the US Dollar.
  • ETH is approaching a crucial bullish trend line with support at $152 on the 4-hours chart (data feed from Coinbase).
  • The price is about to make the next move either above $160 or towards $140.

Ethereum price is struggling to clear the $160 barrier against the US Dollar. ETH may decline towards $140 if it continues to struggle near $159-160.

Ethereum Price Analysis

After forming a support near the $130 level, Ethereum price started an upward move against the US Dollar. The ETH/USD pair broke the $146 and $150 resistance levels. There was even a close above the $146 level and the 55 simple moving average (4-hours). The price tested the $159-160 resistance area, which acted as a solid barrier for buyers once again and prevented further gains.

A high was formed at $160.66 and later the price corrected lower. It recently dipped below the 23.6% Fib retracement level of the last wave from the $132 low to $160 high. However, there is a strong support formed near the $153-154 area. There is also a crucial bullish trend line with support formed at $152 on the 4-hours chart. If there is a downside break below the trend line, the price may test the $146 support. It represents the 50% Fib retracement level of the last wave from the $132 low to $160 high. Besides, the 55 simple moving average (4-hours) is also near the $146 level. Therefore, if there is a downside break below $153, the price could decline towards the $146 support. Below the $146 support, the price may accelerate towards the key $140 pivot area.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price seems to facing a solid barrier near the $159-160 zone. A break above the $160 resistance could push the price towards $168 or $174. On the other hand, a bearish break below $153 may delay a break above the $160 resistance.

Technical indicators

4-hours MACD – The MACD for ETH/USD is slightly tilting into the bearish zone, signaling a possible downside break.

4-hours RSI (Relative Strength Index) – The RSI for ETH/USD is still above the 50 level.

Key Support Level – $146

Key Resistance Level – $160

The post Ethereum Price Analysis: ETH Near Make-or-Break Levels appeared first on Live Bitcoin News.

Source: Bitcoin News

Ripple Price Analysis: XRP Sighting Bullish Break Above $0.38

Key Highlights

  • Ripple price traded lower this past week and tested the $0.3400 support against the US dollar.
  • There is a major bearish trend line in place with resistance at $0.3800 on the 4-hours chart of the XRP/USD pair (data source from Poloniex).
  • The pair must break the $0.3800 resistance to start a decent upward move in the near term.

Ripple price recovered from the $0.3400 support area against the US Dollar. XRP must surpass the $0.3800 and $0.3820 resistance levels to gain bullish momentum.

Ripple Price Analysis

Recently, there was a sharp dip below the $0.3600 support in ripple price against the US Dollar. The XRP/USD pair even traded below the $0.3500 support before buyers appeared near the $0.3400 support. Besides, there was a close below the $0.3800 support and the 55 simple moving average (4-hours). A low was formed at $0.3400 and later the price started a fresh upward move.

It moved above the $0.3700 and $0.3710 resistance levels. There was also a break above the 23.6% Fib retracement level of the last decline from the $0.4680 high to $0.3400 low. At the moment, the price is struggling to gain momentum above the $0.3800 resistance and the 55 simple moving average (4-hours). More importantly, there is a major bearish trend line in place with resistance at $0.3800 on the 4-hours chart of the XRP/USD pair. Finally, the 50% Fib retracement level of the last decline from the $0.4680 high to $0.3400 low is also near the trend line.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price seems to be preparing for an upside break above the $0.3800 resistance in the near term. Above $0.3800, the price may continue to move higher towards $0.4000 and $0.4200. On the downside, the main supports are $0.3500 and $0.3400.

Looking at the technical indicators:

4-hours MACD – The MACD for XRP/USD is slightly placed in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 50 level.

Key Support Level – $0.3500

Key Resistance Level – $0.3800

The post Ripple Price Analysis: XRP Sighting Bullish Break Above $0.38 appeared first on Live Bitcoin News.

Source: Bitcoin News

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