Ethereum Price Analysis: ETH/USD Bullish Above $214

Key Highlights ETH price found a strong support near the $206 level and recovered against the US Dollar. There was a break above a connecting bearish trend line with resistance at $209 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently moving higher towards the $212 and $214 resistance levels in the near term. Ethereum price is trading in a range against the US Dollar and bitcoin. ETH/USD must move above the $214 resistance to start a solid upward move. Ethereum Price Analysis There were…

Ripple Bullish as Bitcoin Steady above $6,000

Latest Bitcoin News As the industry grow, regulation is important even if Bitcoin and other blockchain projects agitate for complete decentralization and decoupling from government influence. But when reality sets in and advocates realize that the industry can’t get away with fiat if liquidity and volatility is to reign then the importance of Business Growth and Transformation bill (PACTE) which President Macron is working hard for will even be clearer. If everything goes as plan and the legislators approve an amendment bill seeking to reduce capital gains tax from 36…

Recovery in Doubt as Bitcoin Price Drops Out of Bullish Channel

Bitcoin is painting a less bullish picture than 24 hours ago, following a drop out of an ascending price channel. Stepping back, the leading cryptocurrency picked up a strong bid at $6,200 on Oct. 31, keeping the crucial 21-month EMA support intact. Further, it witnessed a symmetrical triangle breakout earlier this week, signaling that bulls have come out victorious in a tug of war with the bears. More importantly, the breakout looked legitimate as the technical indicators turned bullish. Notably, the relative strength index rose to a three-month high of…

Up $100: Bitcoin Price Indicators Grow Increasingly Bullish

Bitcoin (BTC) looks likely to inch higher toward $6,800 in the near-term, as the technical indicators have grown increasingly bullish in the last 24 hours. Notably, the 14-day relative strength index (RSI), which measures the speed and change of price movements, has jumped to 59.04 – the highest level since Sept. 4. A reading above 50 indicates that bullish forces are acting on the asset. So, it seems safe to say that the leading cryptocurrency is looking most bullish in two months. At press time, BTC is changing hands at $6,510…

Crypto Market May be Poised for Bullish Breakout

Twitter Facebook LinkedIn Bitcoin on Tuesday confirmed another bull flag formation after reversing from its downside correction action. The BTC/USD pair has almost negated the losses made during yesterday’s trading session, bringing the 24-hour gains to 0.46 percent. The pair found a strong intraday support level at 6372-fiat, just ahead of testing the lower trendline of the parallel channel introduced in the previous analysis. It reversed from the said level to retest its interim resistance at 6421-fiat. The BTC/USD pair is now trading at 6427-fiat on a comparatively high volume…

Bitcoin Price Watch: BTC/USD Turned Bullish Above $6,400

Key Points Bitcoin price surged higher recently and broke the $6,350 and $6,375 resistances against the US Dollar. There was a break above a major contracting triangle with resistance at $6,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price traded towards the $6,475 level and it is currently correcting lower. Bitcoin price moved into a bullish zone above $6,375 against the US Dollar. BTC/USD is correcting lower, but it is likely to find support near $6,380 or $6,375. Bitcoin Price Analysis After testing the…

Ethereum Price Analysis: ETH/USD Turned Bullish Above 100 SMA

Key Highlights ETH price traded further higher and broke the $198 resistance against the US Dollar. This week’s followed important bearish trend line was breached with resistance at $197 on the hourly chart of ETH/USD (data feed via Kraken). The pair could dip a few points, but it is likely to find support near $196 and the 100 hourly SMA. Ethereum price is slowly moving higher against the US Dollar and bitcoin. ETH/USD may perhaps recover further towards the $203 resistance in the near term. Ethereum Price Analysis After dipping…

Bitcoin (BTC) Price Watch: Bullish Channel Still Intact

Bitcoin Price Key Highlights Bitcoin price broke down from its short-term consolidation and is down to the longer-term channel support. A bounce could still allow the uptrend to resume and take price to the resistance at $7,000. A break below current levels could lead to a pickup in selling pressure and prolonged declines once more. Bitcoin price tumbled below its short-term consolidation to test the bottom of its ascending channel on the 4-hour chart. Technical Indicators Signals The moving averages are oscillating to reflect earlier range-bound conditions and have yet…

Ripple Price Analysis: XRP/USD Turns Bullish Above $0.4540

Key Highlights Ripple price traded higher recently and broke the $0.4540 resistance against the US dollar. There was a break above a major contracting triangle with resistance at $0.4560 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently trading in a bullish zone above the $0.4540 and $0.4550 support levels. Ripple price gained traction recently against the US Dollar and Bitcoin. XRP/USD may continue to trade higher as long as it is above $0.4540 and the 100 hourly SMA. Ripple Price Analysis After…

China’s support of BTC Very bullish

China is important. It is home to the largest Bitcoin mining companies and their citizens are fast adopters. Therefore, the recent court ruling is bullish and could fast-track Bitcoin loss reversal driving prices back above $7,000 in the process strengthening market confidence. So far, BTC/USD pair is stable and down one percent in the last week as prices trade in tight trade ranges. Latest Bitcoin News As reported earlier, Shenzhen Court of International Arbitration has declared Bitcoin property allowing merchants as well as individuals to own and even transfer Bitcoin…