Bitcoin Sees Longest Stretch of Price Consolidation Since October

Bitcoin (BTC) is witnessing the longest stretch of range-bound price activity in three months. The leading cryptocurrency by market capitalization has been largely restricted to trading between $3,700 and $3,500 since Jan. 11 – the longest stretch at such a narrow range since the end of October. Back then, the market had gone quiet, with prices staying within the $6,500–$6,350 range in the 12 days leading up to Oct. 28. On the following day, BTC dropped to $6,208. After another period of sideways movement, bitcoin fell well below the crucial…

Bitcoin Price Watch: BTC At Continued Risk of Weakness

Bitcoin price remained in a bearish zone below the $3,580 and $3,600 resistance levels against the US Dollar. There is a major bearish trend line in place with resistance near $3,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently trading inside an expanding triangle with resistance near the $3,580 level. Bitcoin price started consolidating losses above the $3,480 support against the US Dollar. BTC is likely to face a strong selling interest near the $3,580 and $3,600 levels. Bitcoin Price Analysis Yesterday,…

Ripple Price Analysis: XRP’s Recovery Could Face Major Hurdles

Ripple price traded towards the $0.3100 level recently and later started a correction against the US dollar. There was a break above a connecting bearish trend line with resistance at $0.3180 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently following an ascending channel with support at $0.3160 on the same chart. Ripple price is slowly recovering against the US Dollar and Bitcoin. However, XRP/USD is likely to face a lot of hurdles on the upside near the $0.3220 and $0.3250 levels. Ripple…

Bitcoin’s Price Counters the VIX, Confirming It’s Still a Risk Asset

Evidence is emerging that bitcoin has yet to truly earn its reputation as an “uncorreleated asset.” Case and point, bitcoin’s latest sell-off from $6,000 to nearly $3,000 was accompanied by a surge in the CBOE Volatility Index (VIX). The VIX measures the 30-day forward-looking volatility of the S&P 500 to gauge the market’s fear and risk tolerance, which is why it is commonly referred to as the “fear gauge” for the broader U.S. stock market.  In theory, the VIX should be low when the S&P 500 is in a steady uptrend and…

Ethereum Price Analysis: ETH Consolidating Below Crucial Barriers

ETH price declined recently below $120 and tested the key $112 support area against the US Dollar. Yesterday’s highlighted important bearish trend line is intact with resistance at $118 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently consolidating below the $118 and $120 resistance, with a few positive moves. Ethereum price is placed in a bearish zone against the US Dollar and bitcoin. ETH/USD must break the $118 and $120 resistances to start a short term upside correction. Ethereum Price Analysis Yesterday, we saw…

Tron Price Analysis: TRX Trend Setting, Up 18% From Last week’s Close

Tron prices surge, adds 7.8 percent in the last day Justin Sun hires former SEC official; crypto is no scam Accompanying recent surges are high trade volumes While most trading pairs register losses, TRX is a top performer and up 7.8 percent in the last day. At this pace, TRX bulls will likely drive prices towards 4 cents in coming few days. Tron Price Analysis Fundamentals In one of Nouriel Roubini tweetstorm, the NYU professor goes to great length discrediting crypto calling the burgeoning market a “4800 Pump & Dump…

Ripple Price Analysis: XRP Accumulation, Bull Pressure Building Up

Ripple prices stable above 30 cents SWIFT—Ripple competition should heat up in coming days Transactional volumes low and dropping XRP success depends on adoption. That’s why an increase in xRapid users is bullish for investors. Even still, the slide of XRP prices have been deflating, and after 12 months of lower lows, we expect Sep 2018 to guide medium to long term price trajectory. Ripple Price Analysis Fundamentals As long as SWIFT dominates, we expect determined competitors to step up their marketing, pitch to potential clients—mostly in areas where most…

Bitcoin Price Analysis: $3,800 is Definitive for BTC

Bitcoin Price drop 4.1 percent in the last day Wyoming could be the blockchain and crypto center in the US Participation levels low, prices may consolidate in days ahead. Despite bullish fundamentals, BTC continues to cede ground against the USD. At spot rates, prices are steady and trending within our support zone. Unless otherwise there are sharp gains above $3,800, sellers may snap back to trend. Bitcoin Price Analysis Fundamentals Wyoming may be the center of crypto attention thanks to their openness and embrace of new technology, but the real…

TRON Records 2x Increase in Price Since November, What Caused it?

Tron has become an exception in a long-running bear market of cryptocurrencies. The decentralized blockchain protocol experienced a twofold surge in the value of its native token TRX. Between November 20, 2018, and January 18, 2018, the TRX/USD pair rose from 0.0132 to 0.0249, according to CoinMarketCap.com. In the same timeframe, the Bitcoin price dropped 18.37%, from $4474.58 to $3,652.50 while TRX’s closest competitors Ether and EOS experienced 18.39% and 33.42% worth of losses in US Dollars, respectively. Source: CoinMarketCap.com The surge assisted TRX to maintain its position among the…

This Former Bitcoin Price Support Is Now Capping Gains

Bitcoin’s (BTC) weekly gains were wiped out at the weekend at a key moving average that previously offered support. The leading cryptocurrency by market capitalization jumped to highs above $6,750 on Saturday, having weakened the immediate bearish case with a repeated defense of the psychological support level of $3,500 last week. BTC, however, failed to secure a UTC close above the 21-day MA. More importantly, rejection at that MA hurdle proved costly – BTC fell 3.8 percent to $3,470 yesterday. So, it could be argued that the MA line, which…