Category Archives: Altcoin News

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

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

Kyle Samani: Dominance of Ethereum Among Blockchain Developers Will Be Challenged, But How?

Kyle Samani, the co-founder of the $75 million cryptocurrency fund Multicoin Capital, has said that Ethereum will eventually challenge Bitcoin’s dominance over the market. 

A Shift to Decentralized Exchanges

The founder of the Austin-based multi-million dollar cryptocurrency fund Multicoin Capital, Kyle Samani, has shared his take on the current stage of the cryptocurrency market.

He holds that it hasn’t all been doom and gloom despite the tumultuous 2018. According to the expert, one of the hottest trends on the block will be decentralized exchanges.

He believes that Binance’s plan to introduce a decentralized exchange will cause a massive shift in the cryptocurrency space.

Binance realizes that the greatest disruptive threat to their business is decentralized exchanges. […] On a long enough time scale, they believe it is likely to become a dominant form of exchange. As such, they’re aiming to disrupt themselves by pioneering here. I expect that they will create incentives to encourage customers to trade on the decentralized exchange instead of the centralized one, and will actively bridge liquidity pools. – He said.

In addition, he also said that other platforms might follow in the footsteps as Binance, as soon as it brings its decentralized trading platform to light.

Ethereum to Be Challenged Fiercely

Ethereum’s dominance as a platform providing an underlying infrastructure for the development of decentralized applications will be challenged fiercely going into the short to medium-term future, according to Samani.

He holds that a group of very well-funded projects will be able to pose a threat to Ethereum as the leading smart contract platform.

All of the new blockchains are aiming to challenge Ethereum. […] I expect by the end of the year the percentage of total developers building on Ethereum will be lower than it’s right now, simply because of the competition. […] At the end of 2019, I still expect Ethereum to be the market leader among smart contract platforms. But there is a real probability that by the end of 2020, this is no longer the case. – Said Samani.

What do you think of Kyle Samani’s take on the current state of the cryptocurrency field? Don’t hesitate to let us know in the comments below!

Images courtesy of BizJournals

The post Kyle Samani: Dominance of Ethereum Among Blockchain Developers Will Be Challenged, But How? appeared first on Live Bitcoin News.

Source: Bitcoin News

Unauthorized Crypto Exchanges in Malaysia Will Carry a Jail Sentence

Malaysia will officially regulate initial coin offerings (ICOs) and the overall trade of cryptocurrencies. The law which introduces the regulations will come into force on Tuesday, January 15th. 

Malaysia Regulates ICOs and Cryptocurrency Trade

According to a Reuters report, Malaysia will regulate ICOs and the trade of cryptocurrencies.

Citing the country’s Finance Minister, the report outlines that digital currencies and digital tokens will be classified as securities, putting them under the regulatory purview of the Securities Commission of Malaysia.

In turn, the commission is expected to introduce a regulatory framework by the end of Q1 2019. It needs to define the requirements for the issuance of ICOs, as well as the process of trading digital currencies on cryptocurrency exchanges in the country.

Back in November, Live Bitcoin News reported that the country was supposed to regulate ICOs in the first quarter of 2019.

Speaking on the matter, the Finance Minister of Malaysia said:

In particular, we believe digital assets have a role to play as an alternative fundraising avenue for entrepreneurs and new businesses and an alternative asset class for investors.

Increased Regulatory Scrutiny

While the framework is yet to be put in place, after the law on digital currencies and digital tokens come into effect on January 15th, the industry will have to consider the increased scrutiny of the country’s Securities Commission.

According to a local media TheStar, failing to comply with the new regulations can result in a 10-year jail sentence and a fine of up to RM 10 million.

The law on digital currencies and digital tokens will come into effect on Tuesday and any person operating unauthorized initial coin offerings (ICOs) or digital asset exchange faces a 10-year jail and RM10mil fine. – reads the report.

What do you think about the new regulations introduced in Malaysia? Don’t hesitate to let us know in the comments below!

Images courtesy of Shutterstock; 

The post Unauthorized Crypto Exchanges in Malaysia Will Carry a Jail Sentence 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

Vitalik Buterin Positive on Plasma-Like Scaling on Ethereum: Real Progress

Vitalik Buterin has expressed his positivity on a Plasma-like scaling solution on Ethereum, which allows for handling 500 transactions per seconds or more. 

‘Amazingly Cool’ – 500 TPS on Ethereum

Developers at a start-up called Matter Inc, in collaborations with the Ethereum Foundation, have launched a Plasma-like scaling solution.

Ignis, as the project is called, allows Ethereum to handle 500 transactions per second (TPS) or more, which is a significant improvement of the current 15 TPS.

According to the official Medium article describing Ignis, the solution changes the way transactions are verified by users with a new approach.

In Ignis verification of transactions by users is replaced by the following approach: operator(s) proposing blocks must submit a SNARK proving that the new block is correct, which is verified automatically by the smart contract. No incorrect block can ever be included by an operator, so users do not need to always be online and constantly monitor transaction activity. – Reads the article.

Ethereum’s co-founder, Vitalik Buterin, has already expressed his positivity on the matter, calling the solution “amazingly cool.”

Ethereum’s Plasma

Plasma is intended to be a layer-two scalability solution. In other words, it’s not supposed to improve the blockchain itself but instead create a special construction connected to it and, as such, provide greater throughput.

In its essence, Plasma could be described as a child-chain that’s designed to conduct off-chain transactions.

The idea is to run entire applications which feature thousands of users and secure minimal interaction between Plasma and the main chain of Ethereum.

Additionally, though, Plasma should also be able to generate its own child-chains, eventually producing numerous branched blockchains, each one of which is connected to the main one.

Because operations on all of those sub-chains wouldn’t have to be replicated across the main network, they could essentially move a lot faster and substantially reduce the transaction fees.

Put simply, the intention of Plasma is to enable Ethereum’s blockchain to continue handling a large volume of smart contracts while, at the same time, only broadcast completed transactions.

Back in 2018, Buterin said that Plasma and another scaling solution called Sharding could scale Ethereum by 10,000X.

What do you think of Ethereum scaling to handle more transactions per second? Don’t hesitate to let us know in the comments below!

The post Vitalik Buterin Positive on Plasma-Like Scaling on Ethereum: Real Progress appeared first on Live Bitcoin News.

Source: Bitcoin News

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