Category: Litecoin

BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 17/06

BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 17/06

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

In the previous bull market, there was hardly any institutional involvement. Barring a few die-hard crypto enthusiasts, who were ‘hodlers,’ the rest of the traders were novices who wanted to jump on the get-rich-quick bandwagon. However, retail traders are easily influenced by a change in sentiment. Hence, the market overshot both on the way up and on the way down during the bear market.

A report by Nikolaos Panigirtzoglou, managing director of global market strategy at JPMorgan Chase, points to increased institutional interest in cryptocurrencies. The ratio of Bitcoin futures trading to actual volume of Bitcoin trading indicates that institutional investors are showing genuine interest. The volume of futures trading might increase further after the launch of the Bakkt platform.

United Kingdom-based interdealer broker TP ICAP now allows its clients to trade in Bitcoin futures offered by the Chicago Mercantile Exchange. Duncan Trenholme, TP ICAP head of digital asset market, believes that the new technology “could disrupt or impact other asset classes,” hence, they “want to be close to the developments.”

BTC/USD

Bitcoin (BTC) is in an uptrend. It broke out of $9,053.12 on June 17, which invalidated the developing head and shoulders (H&S) pattern highlighted in our earlier analysis. The failure of a bearish setup is a bullish sign because it forces traders who have sold short in anticipation of a fall to cover their positions, resulting in a short squeeze.

BTC/USD

The BTC/USD pair is currently rising inside an ascending channel and both the moving averages are trending up. The RSI has also climbed close to the overbought zone. This shows that bulls are firmly in command. The next target to watch on the upside is the psychological resistance of $10,000.

We anticipate the pair to enter a minor correction or a consolidation around $10,000. However, the rally has surprised to the upside and if the momentum remains intact, the bulls might push the price above $10,000 and towards $12,000.

The first sign of weakness will be a close (UTC time frame) below the support line of the channel. A breakdown of $7,413.46 will indicate a change in trend.

ETH/USD

Ethereum (ETH) is currently range-bound. It has been trading close to the resistance of the $225.39–$280 range for the past two days. A consolidation near the top indicates strength and increases the possibility of a breakout. Both the moving averages are sloping up and the RSI is in the positive zone. This suggests that the path of least resistance is to the upside.

ETH/USD

On a breakout and close (UTC time frame) above $280, the ETH/USD pair can rally to $322.06 and above it to $335. We expect some profit booking around these levels.

However, contrary to our assumption, if the pair turns down from the current levels and plummets below the 20-day EMA, it can drop to $225.39. A breakdown from this level will turn the trend in favor of the bears.

XRP/USD

Ripple (XRP) is currently trading inside a symmetrical triangle. The next move will start either on a breakout or a breakdown from the triangle. After failing to break down of the triangle, the price has risen close to the resistance line of the triangle. The horizontal zone of $0.45 to $0.47919 might act as a resistance. Nonetheless, with both the moving averages sloping up and the RSI in positive territory, the bulls have the upper hand.

XRP/USD

A breakout of the triangle has a target objective of $0.57259, above which the rally can extend to $0.6250. Conversely, if the XRP/USD pair turns down from the resistance line of the triangle, it can again slump to the trendline of the triangle. A breakdown of this level will indicate weakness. The trend will turn bearish on a breakdown of $0.35660. Traders can trail the stop loss on the long position to $0.37.

LTC/USD

Litecoin (LTC) is an uptrend. Though the bulls have managed to sustain the breakout above the ascending channel, they are struggling to push the price above the overhead resistance of $140.3450. Nevertheless, both the moving averages are sloping up and the RSI is close to the overbought zone, which shows that bulls have the upper hand.

LTC/USD

A breakout and close above $140.3450 will propel the LTC/USD pair towards $158.91 and if that level is also crossed, the next target is $184.7940. However, as the price moves up, the probability of a sharp correction increases. Therefore, traders can trail the remaining long position with the stop loss just below the 20-day EMA.

If the price breaks down of the 20-day EMA, it can dip to the next support at the 50-day SMA. The trend will turn negative on a fall below the support line of the ascending channel.

BCH/USD

Bitcoin Cash (BCH) is in a weak uptrend. The 20-day EMA has started to turn up once again and the 50-day SMA is sloping up, which suggests that the bulls have a minor advantage in the short term. Above $450, the bulls will try to retest the recent highs of $481.99 and if this level is crossed, a move to the resistance line of the channel is likely.

BCH/USD

On the other hand, if the rally falters at either one of the overhead resistance levels, the BCH/USD pair might correct to the 20-day SMA and below it to the 50-day SMA. The critical level to watch on the downside is $360 and below it the support line of the channel. If this zone breaks down, the pair can correct to $280. 

EOS/USD

The tight consolidation in EOS resolved to the upside. On June 15, the price closed (UTC time frame) above the overhead resistance of $6.8299 and triggered our buy suggested in an earlier analysis.

EOS/USD

The next target on the upside is a rally to the resistance line of the ascending channel and if that level is crossed, a retest of the recent highs at $8.6503. The 20-day EMA has started to turn up gradually and the RSI has inched back into the positive zone. This suggests a minor advantage to the bulls.

However, if the EOS/USD pair fails to sustain above $6.8299, it will indicate profit booking at higher levels. A breakdown of the moving averages and the support line of the channel will indicate a deeper fall towards $4.4930. Therefore, traders can protect their long positions with the stop loss of $5.80.

BNB/USD

Though the long-term trend in Binance Coin (BNB) is bullish, the short-term trend is shifting to a range between $28 and $38.6463356. A consolidation after such a sharp up-move is a positive sign.

BNB/USD

If the BNB/USD pair breaks out of the overhead resistance at $38.6463356, the uptrend will resume. The next target to watch on the upside is $46.1645899. On the contrary, if the bears sink the price below the support at $28, a deeper correction is likely. Therefore, traders can maintain the stop loss on the long position at $28.

BSV/USD

The bulls are attempting to resume the uptrend in Bitcoin SV (BSV). If the price breaks out of the overhead resistance at $237.390, a retest of the recent highs at $254 is probable. Both the moving averages are trending up and the RSI is in positive territory. This suggests that the bulls are in command.

BSV/USD

A breakout of $254 has a target objective of $307.789 and above it $340.248. Contrary to our assumption, if the bulls fail to break out of $254, the BSV/USD pair might remain range bound for a few days. The pair will turn negative on a breakdown of the 38.2% Fibonacci retracement level of the recent rally.

XLM/USD

Stellar (XLM) has held above the overhead resistance of $0.11507853. However, it is struggling to rebound above the downtrend line of the descending triangle. The moving averages are flat and the RSI is just above 50, which suggests balance between the bulls and the bears.

XLM/USD

If the bulls push the price above the downtrend line of the triangle, the XLM/USD pair can rally to the overhead resistance of $0.14861760. A breakout of this resistance will complete an inverse H&S pattern that has a target objective of $0.22466773. Traders can wait for a close (UTC time frame) above $0.14861760 before initiating long positions. The stop loss for the trade can be kept at $0.1120.

Our bullish view will be negated if the price turns down from the overhead resistance and slips below the support at $0.11507853.

ADA/USD

Cardano (ADA) has been forming a doji candlestick pattern in the past three days, which shows indecision among the bulls and the bears. The price is stuck between the 20-day EMA and $0.10. Both the moving averages have started to turn up once again and the RSI is just above 50. This suggests that the bulls have a slight advantage.

ADA/USD

If the bulls push the price above $0.10, the rounding bottom pattern will complete that can carry the ADA/USD pair towards its target objective of $0.22466773. Hence, we have retained the buy recommendation given in the previous analysis. Contrary to our expectation, if the pair plummets below the moving averages, it will turn negative and can dip to $0.057898.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

cointelegraph.com

The post BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 17/06 appeared first on One Btc News Today.

Top 5 Crypto Performers: NEO, LTC, BTC, ETH, XMR

Top 5 Crypto Performers: NEO, LTC, BTC, ETH, XMR

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

The total market capitalization of cryptocurrencies had come scaringly close to breaking down below the $100 billion mark in mid-December of last year. At that time, sentiment was very weak and every rally was being sold on. There were talks of cryptocurrencies never seeing their lifetime highs again.

However, fast forward seven months and total market capitalization is inching towards the $300 billion mark. Every dip is being bought aggressively and a few cryptocurrencies have already gone on to make new highs. The sentiment has changed within a short span of time.

While the underlying fundamentals had been improving throughout 2018, a few notable events have helped to speed up the recovery of 2019. One among them is the launch of Facebook’s secretive cryptocurrency, Libra. The company is expected to announce the list of the Libra Association founding members and launch the testnet of its blockchain on June 18.

Along with Facebook’s crypto project, the markets are also eagerly awaiting the launch of TON, the blockchain platform being developed by messaging app Telegram. With Bakkt having announced a date for bitcoin futures testing in June, hopes are high that the platform will also soon start operations. Unless these events fail to live up to expectations, a sharp fall is unlikely. Let’s look at the top five performers among the major cryptocurrencies in the past seven days.

NEO/USD

Neo (NEO) co-founder Da Hongfei had recently announced a new $100 million EcoBoost fund that aims to provide support to various projects at different stages of development to build the NEO ecosystem. The first phase of the project has kicked off wherein official partners will be recruited.

The recent upgrade of its consensus algorithm on its mainnet is a key step in the development of NEO 3.0, which is expected to be released by the second quarter of next year. Can these developments prop prices higher? Let’s find out.

NEO/USD

The NEO/USD pair has not shown any fireworks in its rise from the bottom. After every small upwards move, it enters into consolidation before rising again. This looks like an accumulation by stronger hands. The price has sustained above 20-week EMA for the past three weeks and the RSI has rallied into the positive territory, which shows that bulls are in command.

Currently, the pair is facing stiff resistance at the 50-week SMA, above which the rally can extend to $20. If this level is also crossed, a move to $25 is probable. The cryptocurrency will pick up momentum if it makes a large range move and follows it up with further gains. Traders can watch for such a move before hopping on to benefit from the positive momentum.

Our bullish view will be invalidated if the price reverses direction from the current level and plummets below the 20-week EMA. The next support to watch on the downside is $8.17090666.

LTC/USD

Litecoin (LTC) has continued to perform well on the back of its upcoming halving, which is 50 days away. In a sign of growing adoption, Glory kickboxing is not only accepting litecoin, but it is also offering an opportunity to pick up a VIP ticket by paying using the cryptocurrency. This adoption is a positive sign. However, after the runup, is it time to book profits or can it move higher? Let’s find out.

LTC/USD

The digital currency has cleared the resistance line of the ascending channel and is now attempting to ascend the overhead resistance at $140.3450. If successful, it can rally to its target objective of $158.91, above which the upward move can extend to $184.7940.

We have spotted a large rounding bottom that is developing on the LTC/USD pair. This bullish setup will complete on a breakout and close (UTC time frame) above $184.7940, with a target objective of $346.498. However, we will not get overly bullish until the pattern completes.

The 20-week EMA is sloping up and the RSI has entered into the overbought zone, which shows that the bulls are in command. Nonetheless, the overbought nature of the RSI points to a mild correction or a consolidation in the short-term.

If the pair turns down from the current levels or from $140.3450, the bulls will try to defend the support line of the ascending channel. If successful, the uptrend will continue, otherwise, the pair might re-enter the channel. The uptrend will weaken and our bullish projections will be negated if the bears sink the cryptocurrency below the support line of the channel.

BTC/USD

Bitcoin (BTC) is on fire as every dip is being bought aggressively. Some of the critical news and events that might be helping the rise are the upcoming testing of futures trading on the Bakkt platform, the end of the bear market, the ongoing trade war between China and the U.S., the reported launch of Facebook’s own stablecoin, etc. Can the rally continue and force the investors sitting on the sidelines to jump in, or will the rally fizzle out near the overhead resistance? Let’s find out.

BTC/USD

The BTC/USD pair is looking strong with the 20-week EMA sloping up and the RSI in overbought territory: this suggests that bulls are in command. The pair has broken out of the recent high at $9,053.12 and will now attempt to reach the next overhead resistance of $10,000. This is a psychological resistance where we anticipate a consolidation or a minor correction.

However, the sentiment has become positive and any favorable news is likely to attract buyers. The traders who are waiting to buy at lower levels are feeling left out. Hence, if the bulls propel the price above $10,000, the momentum can pick up and can carry the pair to $12,000.

Currently, there is no negative setup on the chart. The first indication of exhaustion will be if the bears sink the cryptocurrency below $7,413.46. That can drag the price towards the 20-week EMA and below it to the critical support of $5,900.

ETH/USD

Enigma released the testnet of its discovery network and the developers can now build decentralized applications that can be deployed immediately once Enigma goes live on the Ethereum (ETH) mainnet . In a first, Coinbase has also added a course on the Ethereum-based stablecoin dai (DAI) to its Coinbase Earn platform. This provides an opportunity for enthusiasts to know more about the token and earn some DAI. Can ether breakout of the overhead resistance and head higher?

ETH/USD

The ETH/USD pair is consolidating roughly between $225 and $300 for the past three weeks. This is a positive sign as it shows demand close to $225. The moving averages are on the verge of a bullish crossover, which indicates a change in trend.

The longer the consolidation, the stronger the eventual breakout from it will be. If the bulls push the price above $307.67, it is likely to start a new uptrend that can carry the pair to $500, which is likely to act as a stiff resistance.

Our bullish assumption will prove to be wrong if the bears defend the overhead resistance zone of $280 to $307.67 and sink the cryptocurrency below the moving averages.

XMR/USD

A web address is spreading a botnet that installs a monero (XMR) mining component and also holds DDoS capabilities, according to cybersecurity firm Trend Micro. However, in a positive for monero, the CEO of Binance tweeted that if India pushes through the crypto bill, the crypto enthusiasts of the country might shift to privacy coins.

The XMR/USD pair has been consolidating between $81 and $100 for the past three weeks, which is a positive sign. The price has sustained above both moving averages, which are likely to complete a bullish crossover. This will indicate a change in trend.

If the bulls push the price above $100, a rally to $150 in the medium-term is probable. It is unlikely to be a straight dash to this level as the cryptocurrency might face minor hiccups at $114.840 and $128.650. However, if the sentiment remains positive, these levels will be crossed.

The first sign of weakness will be a breakdown and close (UTC time frame) below $81. That can drag the price lower to the 20-week EMA and below it to $60.147.

The market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

cointelegraph.com

The post Top 5 Crypto Performers: NEO, LTC, BTC, ETH, XMR appeared first on One Btc News Today.

BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 12/06

BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 12/06

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

After the recent rally in crypto markets, most analysts believe that the bear market is over. Barry Silbert, Digital Currency Group founder and CEO, opined that the crypto winter is over and the markets have entered a “crypto spring.” Silbert pointed out that institutional involvement has grown a lot since the 2017 bull phase, which is the cause of his bullish stance.

Contrary to this opinion, blockchain researcher Tone Vays said that he does not trust the current rally as it is not backed by considerable external money investing in crypto markets. According to him, the existing long-term investors have supported the rally from the lows and if their conviction waivers, the markets can plunge once again. Still, he advises people to hold “some bitcoin.”

We believe that the bear market is over and the markets will form a higher base during the next fall. However, we are against chasing prices higher. Instead, we believe that the markets will give enough opportunities to buy on dips. Hence, traders should be patient and buy when the risk to reward ratio is in their favor.

Let’s take a look at the charts and see if we find any buying opportunities at current levels.

BTC/USD

Bitcoin (BTC) has broken out of the 20-day EMA after struggling to sustain above it for the past few days. This shows fresh demand at higher levels. If the price maintains above $8,120, the bulls will try to push it to $9,053.12. A breakout of this level will invalidate the head and shoulders (H&S) pattern, which is a positive sign. The next target to watch on the upside is $10,000.

BTC/USD

On the other hand, if the BTC/USD pair fails to sustain above the 20-day EMA, the bears will try to sink it to the neckline of the H&S pattern. If the price breaks down and closes (UTC time frame) below the neckline, it will complete the H&S pattern that has a target objective of $5,371.12.

However, the bulls might try to provide support close to $7,413.46 and below it at the 50-day SMA. If both these supports break down, a fall to $5,900 is probable where we expect strong buying. Currently, we do not find a reliable buy setup, hence, we do not suggest a trade in it.

ETH/USD

Ethereum (ETH) is stuck inside a large range of $225.39 and $280. The 20-day EMA is flat and the RSI is just above the midpoint. This suggests that the consolidation might continue for a few more days.

ETH/USD

The ETH/USD pair has broken out of the 20-day EMA. It will now try to move up to $261.59 and above it to $280. A breakout and close (UTC time frame) above $280 might propel it to $322.06 and above it to $335.

However, if the pair fails to break out of $280, the bears will try to sink it back to $225.39. A breakdown of this support and the 50-day SMA will attract further selling. The next support on the downside is way lower at $167.20. We do not find any reliable buy setups at the current levels, hence, we are neutral on the digital currency.

XRP/USD

The bulls have been trying to keep Ripple (XRP) inside the symmetrical triangle but are facing stiff resistance at the 20-day EMA. For the past two days, the cryptocurrency has formed inside day candlestick pattern, which shows that the volatility is shrinking.

XRP/USD

Presently, the bulls are trying to push the XRP/USD pair above the 20-day EMA. If successful, a move to $0.43196 and above it to the resistance line of the triangle is possible. Conversely, if the price turns down from the 20-day EMA, the bears will try to sink the pair below the strong support of $0.35660. Therefore, traders holding long position can keep the stop loss at $0.35.

LTC/USD

Litecoin (LTC) continues to be in a strong uptrend. It easily climbed above the resistance line of the ascending channel, which shows strong demand. Both the moving averages are sloping up and the RSI is in the overbought zone, which confirms that the bulls are in command.

LTC/USD

There is a minor resistance at $140.3450. If the LTC/USD pair struggles to break out and sustain above it, traders can book partial profits closer to $140 and trail the remaining long position with stops just below the 20-day EMA. As the moving average moves up, stops can be raised higher. The target to watch on the upside is $158.91 and above it $184.7940.

The digital currency will lose momentum if it turns down and slides back into the ascending channel. A break below the 20-day EMA will be a negative sign and can attract further selling.

BCH/USD

Bitcoin Cash (BCH) has been clinging to the 20-day EMA for the past few days. We should soon see a large range move either to the upside or to the downside. A breakout and close (UTC time frame) above the 20-day EMA can carry the price to $451 and above it to the resistance line of the ascending channel.

BCH/USD

On the other hand, if the BCH/USD pair turns down and breaks below the 50-day SMA, it can correct to the support line of the channel. We anticipate strong buying at this level. If the price rebounds sharply from it, we might suggest a long position. The stop loss can be kept just below the channel. However, if the pair plunges below the channel, it will turn negative and can drop to $280.

EOS/USD

EOS is finding support at the 50-day SMA, which is sloping up and is facing resistance at the 20-day EMA, which has started to turn down. This shows that volatility is tightening. We should soon see the volatility expand. However, it is difficult to predict the direction of the expansion. Hence, we can not take any predetermined action.

EOS/USD

If volatility expands to the upside and the EOS/USD pair climbs above the 20-day EMA and $6.8299, it can move up to the resistance line of the channel and above it to $8.6503. As the risk to reward ratio of this trade is attractive, we maintain the buy proposed in an earlier analysis.

On the other hand, if the bears sink the pair below the 50-day SMA, it can drop to the support line of the channel. If this breaks down, a fall to $4.4930 is probable.

BNB/USD

Binance Coin (BNB) has broken out of the downtrend line and has triggered the buy recommendation given in the previous analysis. It can now move up to $38.6463356 and above it to the resistance line. If the bulls can push the price above the resistance line, a rally to $46.1645899 is possible. Both the moving averages are sloping up and the RSI is in positive territory, which shows that bulls have the upper hand.

BNB/USD

Contrary to our assumption, if the BNB/USD pair fails to sustain above the downtrend line the bears will try to sink it below the 20-day EMA. If successful, the next stop on the downside is the 50-day SMA. This has acted as strong support in the past few months, hence, we expect it to hold. Therefore, the stops on the long positions can be kept at $28.

BSV/USD

Bitcoin SV (BSV) has been holding above the 38.2% Fibonacci retracement level of the recent rally for the past three days. Though this is a positive sign, the failure of the bulls to secure a strong bounce shows a lack of buyers at higher levels.

BSV/USD

If the bears plunge the BSV/USD pair below $176.083 and the 20-day EMA, the uptrend will lose momentum. The next support is at $152.015, which is 50% retracement level of the recent rally. If this support also gives way, the fall can extend to $134.360.

Contrary to our assumption, if the pair rebounds sharply from the current levels or from the 20-day EMA, the bulls will try to carry it to $240, above which a retest of the lifetime highs is probable. The digital currency will pick up momentum after it sustains above $254.

XLM/USD

Stellar (XLM) is facing stiff resistance at the 20-day EMA. If the bulls fail to sustain the price above the 20-day EMA, the bears will try to sink it below the strong support of $0.11507853.

XLM/USD

If the XLM/USD pair breaks down of $0.11507853, it can correct to $0.08558676, but if the bulls succeed in pushing the pair above the 20-day EMA, it can rally to $0.14861760. This is a critical resistance. A breakout and close (UTC time frame) above this level will complete an inverse H&S pattern that has a target objective of $0.22466773. We will wait for the price to sustain above $0.14861760 before proposing a trade in it.

ADA/USD

Cardano (ADA) is range-bound between the 50-day SMA and $0.10. It sharply bounced off the 50-day SMA on June 10 and is nearing the overhead resistance of $0.10. A breakout and close above $0.10 will complete the rounding bottom pattern that has a target objective of $0.22466773.

ADA/USD

Previously, the cryptocurrency had broken out of $0.10 on three occasions but failed to sustain it. Therefore, we will wait for the price to break out and close (UTC time frame) above $0.10 before suggesting a long position in it.

If, however, the ADA/USD pair fails to breakout and sustain above $0.10, it will extend its stay inside the range for a few more days. It will turn negative if it reverses direction and plummets below the 50-day SMA. The next target to watch on the downside is $0.057898.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

cointelegraph.com

The post BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 12/06 appeared first on One Btc News Today.

Bitcoin Briefly Breaks $8,000 as US Stock Market Sees Slight losses

Bitcoin Briefly Breaks $8,000 as US Stock Market Sees Slight losses

Wednesday, June 12 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) approaches the $8,000 mark again after breaching it earlier today.

Market visualization courtesy of Coin360

Market visualization courtesy of Coin360

Bitcoin is currently up over 2% on the day, trading around $7,987 at press time, according to Coin360. Looking at its weekly chart, the coin is up nearly 4%.

Bitcoin 7-day price chart. Source: Coin360

Bitcoin 7-day price chart. Source: Coin360

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at just under $26.4 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $16.6 billion at press time.

Coin360 data shows that ETH has seen its value increase by about 3.15% over the last 24 hours. At press time, ETH is trading around $248. On the week, the coin has also gained over 2.8% of value.

Ether 7-day price chart. Source: Coin360

Ether 7-day price chart. Source: Coin360

The testnet of private smart contract network Enigma has been launched, the developers announced yesterday, which is based on the Ethereum network.

XRP is up by just over 1.8% over the last 24 hours and is currently trading at around $0.396. On the week, the coin is down about 0.25%.

XRP 7-day price chart. Source: Coin360

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the ones reporting the most notable gains are cardano (ADA), which is almost 10% up, litecoin (LTC) and tron (TRX), both over 7% up.

At press time, the total market capitalization of all cryptocurrencies is $256.8 billion, nearly 3% lower than the value it reported a week ago.

As Cointelegraph reported earlier today, the crypto winter is likely to be ending, a senior executive at major American blockchain venture capital firm Digital Currency Group said in an interview.

In traditional markets, the United States stock market is seeing slight losses so far today, with the S&P 500 down 0.01% and the Nasdaq down 0.2% at press time. The CBOE Volatility Index (VIX), on the other hand, has gained 0.75% on the day at press time.

Major oil futures and indexes are seeing mixed movements today, with WTI Crude down 2.08%, Brent Crude down 1.73% and Mars US up 0.02% at press time. The OPEC Basket is up 3.5% and the Canadian Crude Index has seen its value decrease by 3.03% in the 24 hours by press time, according to OilPrice.

cointelegraph.com

The post Bitcoin Briefly Breaks $8,000 as US Stock Market Sees Slight losses appeared first on One Btc News Today.

BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 10/06

BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 10/06

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

In a joint communiqué, G20 finance ministers and central bank governors have said that “technological innovations, including those underlying crypto-assets, can deliver significant benefits to the financial system and the broader economy.” This statement suggests that central banks are warming up to the new technology. However, they have also warned regulatory authorities to monitor risks in crypto assets “related to consumer and investor protection, anti-money laundering and countering the financing of terrorism.”

With Facebook likely to announce the details of its crypto project in a few days, we believe that the downside is limited in the short term. However, if the project disappoints, we might see a decent sized correction in cryptocurrencies that can be used as a buying opportunity. If the details positively surprise markets, we might see a spike in most major cryptocurrencies that can be used to lighten up positions, because we do not expect a repeat of 2017. If the project only meets expectations, even then we might see a correction play out.

Which cryptocurrencies look good for a short-term trade? Let us find out.

BTC/USD

The bulls failed to push Bitcoin (BTC) above the 20-day EMA on June 7 and 8. Currently, the price has again bounced off the neckline of the head and shoulders (H&S) pattern and is trying to scale the 20-day EMA. This is a positive sign.

The 20-day EMA is flat and the RSI is just above the center. This points to a consolidation in the short term. The range might be between $7,413.46 and $9,000. If the bulls push the price above the 20-day EMA, a rally to $9,000 is probable.

BTC/USD

However, if the BTC/USD pair reverses direction from the overhead resistance and plummets below the neckline, it will complete a head and shoulders pattern that has a target objective of $5,371.12. It is unlikely that the pair will dive to such a low level. There are strong supports at the 50-day SMA and below it at $5,900. We expect buying to emerge at these support levels. Currently, we do not find any reliable buy setups.

ETH/USD

Ethereum (ETH) is range bound. It has currently dropped to the bottom of the $225.39–$280 range. The bulls are attempting to bounce off $225.39. If successful, the price will try to move up to the top of the range at $280 and the consolidation might extend for a few more days.

ETH/USD

The 20-day EMA is flat and the RSI is close to the center. This suggests a balance between the bears and the bulls. If the ETH/USD pair breaks down of the range and the 50-day SMA, a fall to $167.20 is possible.

Short-term traders can wait for the pair to break out and sustain above the 20-day EMA for about 4 hours before buying with a stop loss of $220. The target is to book profits near the top of the range. Trading inside the range can be volatile, therefore, keep the position size only about 30% of usual.

XRP/USD

Ripple (XRP) broke down of the symmetrical triangle on June 9. A breakdown of this pattern has a target objective of $0.26741. However, the bulls are currently attempting to push the price back into the triangle. If successful, the breakdown will be considered a bear trap.

If the price fails to scale back into the triangle, it might turn around and drop to the next critical support of $0.35660. We anticipate strong buying at this level but if this support also cracks, a decline to $0.27795 will be in the cards.

XRP/USD

Our bearish view will be invalidated if the XRP/USD pair rises and sustains above the trendline of the symmetrical triangle. This will prolong the stay inside the triangle. The flattish 20-day EMA and the RSI close to the midpoint suggests a consolidation.

The trend will turn positive on a breakout and close (UTC time) above the triangle. For now, the traders can maintain the stop loss on the long position at $0.35. We will raise the stop loss at the first available opportunity.

LTC/USD

Litecoin (LTC) is in an uptrend. The price is attempting to break out of the resistance line of the ascending channel. A breakout can carry the price towards the pattern target of $158.91. If this level is crossed, the next level to watch is $184.7940.

LTC/USD

If the bulls fail to push the price above the channel, the LTC/USD pair might continue to move up inside the channel. The momentum will weaken on a breakdown of the 20-day EMA and the trend will turn bearish if the price plunges below the critical support of $91.

Traders can watch the price action near the resistance line of the channel closely. If the pair struggles to break out of it, the stops can be tightened further. For now, we suggest trailing the stops on remaining long positions to $98.

BCH/USD

Bitcoin Cash (BCH) is in a weak uptrend. The 20-day EMA is gradually sloping down and the RSI is close to the center. This suggests that bears are trying to gain an upper hand. A breakdown of the 50-day SMA and the support line of the channel will indicate a trend change.

BCH/USD

On the other hand, if the BCH/USD pair rises above the 20-day EMA, the bulls will again try to push it back towards the resistance line of the channel. A breakout of the channel will propel the pair to $480. Though positive, we do not find a reliable buy setup, hence, we are not proposing a trade in it.

EOS/USD

EOS has been trading inside the ascending channel, which suggests that the trend is up. However, the short-term trend has weakened as the price has stayed below the 20-day EMA for the past 6 days and the RSI has also fallen below 50. The medium-term trend, nevertheless, remains bullish as the 50-day SMA is still sloping up.

EOS/USD

If the EOS/USD pair bounces off the 50-day SMA and ascends the overhead resistance of $6.8299, it will indicate strength. The next stop is the resistance line of the channel and above it $8.6503. Therefore, we retain the buy recommendation given in the previous analysis.

Our bullish view will be negated if the pair fails to hold the 50-day SMA and the support line of the ascending channel. That can result in a drop to $4.4930.

BNB/USD

Binance Coin (BNB) has been in a strong uptrend. The current pullback has found support just below the 20-day EMA. This shows that the bulls are buying on dips. A breakout of the downtrend line is likely to resume the uptrend and propel the price to lifetime highs.

Short-term traders can buy if the price sustains above $33 for four hours. The stop loss can be kept at $28. Please keep the position size about 50% of usual. If the momentum picks up, the cryptocurrency can even extend the rally to $46.1645899. However, as this is a short-term trade, traders should keep trailing the stops higher to reduce the risk.

BNB/USD

On the other hand, if the BNB/USD pair fails to sustain above the downtrend line, it can form a range. The support of the range might be closer to $28, but we still do not know the resistance. The trend will turn negative if the pair plunges and sustains below the 50-day SMA.

BSV/USD

Bitcoin SV (BSV) is presently in a pullback in an uptrend. The bulls are trying to defend 38.2% Fibonacci retracement level of the recent rally. If successful, the cryptocurrency might remain range bound between $175 and $240 for the next few days. A consolidation near the highs is a positive sign. This shows that the bulls are in no hurry to book profits even after a vertical rally.

BSV/USD

The uptrend will resume on a breakout to new highs. Such a move can carry the BSV/USD pair $307.789 and above it to $340.248.

However, if the bears sink the pair below $175, it can decline to $152.015, which is the 50% retracement level of the recent rally. A breakdown of this support will signal a change in trend. We do not find a reliable buy setup so we do not suggest a trade in it.

XLM/USD

Stellar (XLM) is struggling to sustain the bounce from the strong support of $0.11507853. This shows a lack of demand at higher levels. If the bulls push the price above the 20-day EMA, the cryptocurrency might trade inside the $0.11507853–$0.14861760 range for a few days.

XLM/USD

The XLM/USD pair will complete an inverse head and shoulders pattern on a breakout and close (UTC time frame) above $0.14861760 that has a minimum target objective of $0.22466773. Therefore, we might suggest long positions if the pair sustains the breakout. But if the bears sink the cryptocurrency below $0.11507853, it can correct to $0.08558676.

ADA/USD

Cardano (ADA) is currently range bound between the 50-day SMA and $0.10. Both the moving averages are flat and the RSI is at the midpoint. This suggests a balance between buyers and sellers.

The bulls have been attempting to keep the price above the 50-day SMA for the past few days. Though the support has held, the cryptocurrency has failed to sustain the bounce. This shows a lack of demand at higher levels.

ADA/USD

If the bulls push the price above the 20-day EMA, the ADA/USD pair might move up to $0.10. A breakout and close (UTC time frame) above $0.10 will complete a rounding bottom formation that has a target objective of $0.22466773. We might suggest long positions after the price sustains above $0.10. On the contrary, if the support at the 50-day SMA gives way, the digital currency can dip to $0.057898.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

cointelegraph.com

The post BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 10/06 appeared first on One Btc News Today.

Bitcoin Recovers to Trade Above $8,000, Gold Market Reports Losses

Bitcoin Recovers to Trade Above $8,000, Gold Market Reports Losses

Monday, June 10 — The top 20 cryptocurrencies on CoinMarketCap are showing mixed signals, with bitcoin (BTC) back over the $8,000 price mark after seeing a dip under $7,900 on June 8.

Market visualization from Coin360

Market visualization from Coin360

As of press time, bitcoin is up 2.18% on the day to trade at around $8,029. The leading cryptocurrency started the day as low as $7,680, subsequently reaching the current price point. On its weekly chart, the coin has lost slightly over 8%.

Bitcoin price analyst Oliver Isaacs said last week that the coin could hit $25,000 around the end of 2019, noting that there are many different factors behind this price resurgence.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

The second-largest crypto by market capitalization, ether (ETH), has registered moderate growth of 0.97% over the past 24 hours and is trading at around $244.6. The leading altcoin has seen minimal volatility over the past week to lose $20 in value, posting around a 9.35% loss.

Ether 7-day price chart

Ether 7-day price chart. Source: CoinMarketCap

XRP has lost almost 2% of its value over the last 24 hours and is currently trading at around $0.399. Over the past month, the altcoin has gained a solid 34.29%, although its weekly chart shows a 9.25% loss.

XRP 7-day price chart

XRP 7-day price chart. Source: CoinMarketCap

Litecoin (LTC) is currently the top gainer, having recorded an almost 7% increase on the day to trade at around $124.9. The coin is followed by neo (NEO) and tezos (XTZ), with 4.74% and 4.15% gains respectively.

On the top 20 list, binance coin (BNB), bitcoin SV (BSV), stellar (XLM), tron (TRX), and cosmos (ATOM) are reporting losses between 0.03% and 1.58%.

Total market capitalization of all digital currencies is over $254 billion at press time. The market’s intraweek low was around $242 billion on June 5, while the highest point on the week was $272 billion on June 4.

Total market capitalization 7-day chart

Total market capitalization 7-day chart. Source: CoinMarketCap

In traditional markets, gold is reporting losses, with spot gold down 0.9% at $1,328.41 per ounce today, according to CNBC, and U.S. gold futures fell 1.1% to $1,331.9 an ounce. Howie Lee, an economist at OCBC Bank, said that they “expect prices to hover sideways from $1,300-$1,350 per ounce in the short term, with risks tilted to the upside.”

Chinese markets have seen a rise following a higher-than-expected trade surplus in May, CNBC writes. Mainland Chinese stocks were higher by the afternoon, with the Shenzhen component jumping 1.61% and the Shenzhen composite rising 1.473%. The Shanghai composite also gained 0.98%.

cointelegraph.com

The post Bitcoin Recovers to Trade Above $8,000, Gold Market Reports Losses appeared first on One Btc News Today.

BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, TRX: Price Analysis 07/06

BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, TRX: Price Analysis 07/06

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

The white paper for Facebook’s stablecoin might be released as early as June 18, according to multiple sources. This has been an eagerly awaited project as the social media giant along with its sister companies WhatsApp and Instagram can reach millions of customers.  

In a recent interview, Laura McCracken, Facebook’s Head of Financial Services and Payment Partnerships for Northern Europe, confirmed that “the value of Facebook Coin will be secured with a basket of fiat currencies.” Over 100 people are working on the project with about 40 more openings yet to be filled.

Igor Sechin, head of Russian oil company Rosneft has said that Facebook’s stablecoin might also be used to pay for the purchase of crude oil in the future. While Venezuela had previously attempted to link crude oil and cryptocurrency, its project failed due to various reasons. But if large producers like Russia start accepting cryptocurrency payments for their oil, it will give a big boost to the sector. With every passing day, the fundamentals of the sector are improving.

Will prices respond positively to these developments? Let us find out.

BTC/USD

Bitcoin (BTC) has been trading between the 20-day EMA and the horizontal support of $7,413.46 for the past two days. Currently, the 20-day EMA is flat and the RSI is close to 50. This points to a consolidation in the near term.

BTC/USD

The chart is also showing the possibility of a head and shoulders pattern formation. Currently, the BTC/USD pair might be forming the right shoulder. The pattern will complete on a breakdown of the neckline. This breakdown has a target objective of $5,371.12. However, a head and shoulders pattern with an upward sloping neckline is less reliable. Hence, we will not become overly negative but will remain cautious.

This pattern will be invalidated if the pair breaks out of the head at $9,053.12. If the bulls sustain the price above the 20-day EMA, a retest of the highs at $9,053.12 is likely. The failure of a negative pattern is a bullish sign. Hence, if the bulls sustain the price above $9,053.12, a quick rally to $10,000 is probable.

ETH/USD

Ethereum (ETH) is currently range bound between $225.39 on the downside and $280 on the upside. The 20-day EMA is flat and the RSI is just above the midpoint. This suggests that the cryptocurrency might consolidate for the next few days.

ETH/USD

A breakdown of $225.39 and the 50-day SMA can sink the ETH/USD pair to $167.20. On the other hand, if the bulls propel the pair above the resistance of the range at $280, it can move up to $322.06, which is likely to act as a stiff resistance.

The best way to trade a range is to buy closer to the support and sell near the resistance. Therefore, we will wait for the pair to bounce from $225.39 before suggesting fresh long positions.

XRP/USD

Ripple (XRP) has formed a symmetrical triangle. A breakout of the overhead resistance at $0.45 and the resistance line of the triangle has a target objective of $0.57259. If this level is crossed, the rally can extend to $0.62.

XRP/USD

Conversely, if the bears sink the XRP/USD pair below the support line of the triangle, it gives a pattern target of $0.26741. However, the pair has strong support at $0.35660 and below it at $0.27795.

The 20-day EMA is gradually creeping up and the RSI is above 50, which shows that the bulls have a slight advantage. Therefore, traders can retain the stop loss on the remaining long position at $0.35. We will trail the stops higher within the next few days.

LTC/USD

Litecoin (LTC) has bounced smartly from the 20-day EMA. This is a positive sign as it confirms that bulls are defending the first line of support and are not waiting for lower levels to buy.

LTC/USD

The bulls will now try to push the LTC/USD pair above the overhead resistance zone of $121.9018–$127.6180. If successful, the next target to watch is $158.91. There are minor resistances at $140 and $147. If the pair struggles at any level, we will recommend closing the remaining long position. Until then, stop losses can be maintained at $90. If we get an opportunity in the next few days, we will trail the stops higher to $98.

We are closely watching the negative divergence on the RSI, which is the only bearish formation on the chart. Our bullish view will be invalidated if the cryptocurrency reverses direction from the overhead resistance zone and plummets below $91.

BCH/USD

Bitcoin Cash (BCH) continues to trade inside the ascending channel. The cryptocurrency is finding support closer to $360 but the bulls are struggling to sustain the price above the 20-day EMA. This shows a lack of demand at higher levels.

BCH/USD

The 20-day EMA is flattening out and the RSI is close to the center. This suggests a balance between the bulls and the bears. If the BCH/USD pair sustains above the 20-day EMA, the bulls will try to push it towards the resistance line of the channel.

On the contrary, if the pair plunges below $360, it can drop to the support line of the channel. This is a critical level to watch. A breakdown of the channel will tilt the trend in favor of the bears. Currently, we do not find any reliable buy setups, hence, we remain neutral on the cryptocurrency.

EOS/USD

EOS has been trading between the 50-day SMA and the 20-day EMA for the past three days. On the upside, the bulls are likely to face stiff resistance at the 20-day EMA and above it at $6.8299.

EOS/USD

If the EOS/USD pair plummets below the 50-day SMA, it can decline to the support line of the ascending channel. This is a strong support as the bulls have repeatedly defended this line in the past few months. A breakdown of the channel will signal a deeper correction to $4.4930.

On the other hand, if the bulls propel the price above $6.8299, a rally to the resistance line of the channel and above it to $8.6503 is possible. Traders can wait for a close (UTC time frame) above $6.8299 to buy with a stop loss of $5.80. If the price breaks out with force and closes (UTC time frame) near the resistance line of the ascending channel, traders should wait for a pullback to enter long positions. We do not suggest chasing the price higher.

BNB/USD

Binance Coin (BNB) broke down of the 20-day EMA on June 4 but the price did not drop to the 50-day SMA according to our expectation. It rebounded sharply from $28.0639659. This is a positive sign. Currently, the price is above the 20-day EMA. If the bulls sustain this level, a rally to $36 is probable.

BNB/USD

Conversely, if the BNB/USD pair fails to sustain above the 20-day EMA, the bears will again attempt to sink it to the 50-day SMA. This is a strong support as it has not been breached decisively barring on May 9. Hence, a breakdown of this level will signal a deeper correction and a comeback of the bears. We will watch for a couple of days and suggest long positions if we find a trade with good risk-to-reward ratio.

BSV/USD

Bitcoin SV (BSV) plunged on June 6 but found support close to the 38.2% Fibonacci retracement level of the recent rally. This is the second time bulls have defended this level. It now becomes an important level to watch on the downside.

BSV/USD

The bounce from $172.910 suggests strong buying on dips. If the bulls build up on the rebound, the BSV/USD pair can move up to $240, which might act as a resistance. A breakout of the $240–$254 overhead resistance zone will resume the uptrend that can carry the cryptocurrency to $307.789 and above it to $340.248.

Our assumption will be negated if the pair turns around and plummets below $172.910. Below this level, the fall can extend to $152.015, which is the 50% retracement level of the recent rally. As the risk is high, we are not proposing a trade in it.

XLM/USD

Stellar (XLM) is range bound between $0.11507853 and $0.14861760. It found support at the bottom of the range on June 4 and 6. If the price sustains above the 20-day EMA, the bulls will try to push it to the resistance of the range at $0.14861760. A breakout and close (UTC time frame) above the range will complete an inverse head and shoulders pattern, which has a target objective of $0.22466773. We will wait for the breakout before recommending a long position.

XLM/USD

On the other hand, if the XLM/USD pair fails to sustain above the 20-day EMA, the bears will again try to sink it below the support at $0.11507853. A breakdown of this critical support will be a negative sign and can result in a deeper fall to $0.08558676.

TRX/USD

Tron (TRX) is trading inside an ascending channel. The price bounced off the support line of the channel on June 4 and 6. This is a positive sign. However, the dip on June 6 might have hit the stops on the long positions if the traders had purchased on May 15.

TRX/USD

The bulls will now attempt to push the price back to the overhead resistance of $0.040. If this level is scaled, the TRX/USD pair can move up to $0.050. Our bullish view will be invalidated if the pair turns down and breaks below the support line of the channel. Such a move can plunge the cryptocurrency to the critical support of $0.02815521.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

cointelegraph.com

The post BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, TRX: Price Analysis 07/06 appeared first on One Btc News Today.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Bitcoin SV, Stellar, Cardano: Price Analysis May 31

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Bitcoin SV, Stellar, Cardano: Price Analysis May 31

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Michael Novogratz, founder and CEO of cryptocurrency merchant bank Galaxy Digital, believes that the adoption of the blockchain technology by mainstream technology companies and interest by Wall Street firms helped start the rally. He now expects Bitcoin to remain range bound between $7,000 and $10,000.

Bitcoin has seen a massive run in 2019. When the price is appreciating so much, it is unlikely that many people would spend their Bitcoin. Research by Chainalysis suggests that only 1.3% of economic transactions for Bitcoin came from merchants in this year.

Considering the high volatility, Susquehanna’s Bart Smith believes that Bitcoin investment is “certainly speculative.” However, we believe that with the right strategy, the risk in trading cryptocurrencies is no greater than trading in equities or any other traditional asset class. What do the charts project for major coins? Let’s find out.

BTC/USD

Bitcoin (BTC) spiked up above $9,000 on May 30 but quickly reversed direction and fell to a low of $8,034.31 within a few hours. Currently, the bulls are attempting to hold the price above $8,000. The trend remains bullish as both the moving averages are sloping up and the RSI is in the positive territory. But the negative divergence on the RSI warrants caution.

BTC/USD

If the BTC/USD pair rebounds from the current levels and rallies above $9,053.12, it can reach the next overhead resistance of $10,000. However, if the bears sink the pair below the 20-day EMA, it can slide to the next support at $7,413.46. The digital currency will lose momentum if this support also breaks.

After the quick fill and stop loss hit on our trade recommendation, we will play it safe and avoid suggesting short-term positions. We will wait for a reliable buy setup to form before proposing a trade.

ETH/USD

Ethereum (ETH) spiked on May 30 and reached the overhead resistance zone of $300–$322. As expected, it quickly turned around and plunged to the 20-day EMA. The bulls are currently attempting to hold the price above the 20-day EMA. If successful, another rise to the overhead resistance zone is probable.

ETH/USD

Though both the moving averages are sloping up and the RSI is in the positive zone, the negative divergence on the RSI is giving a warning signal.

A breakdown of the 20-day EMA can sink the ETH/USD pair to $225.39. If this support also breaks down, the fall can extend to the 50-day SMA. We do not spot a bullish pattern at current levels.

XRP/USD

Ripple (XRP) attempted to scale above the overhead resistance zone of $0.45–$0.47919 on May 30 but failed. This resulted in a quick drop to close to the 20-day EMA. Currently, the bulls are attempting to keep the digital currency above the 20-day EMA, which is trending up. If successful, we might see another attempt to push the price above the overhead resistance zone and towards the target objective of $0.60.

XRP/USD

On the other hand, if the XRP/USD pair plummets below the 20-day EMA, it can dip to the $0.37835–$0.35660 support zone. A breakdown of this zone is likely to signal an end of the recovery. Therefore, traders can keep the stop loss on the long positions at $0.35.

BCH/USD

Bitcoin Cash (BCH) is in an uptrend. It has been trading above the 20-day EMA and below the resistance line of the ascending channel for the past few days. A breakout of the channel is likely to propel it to $638.99.

BCH/USD

The RSI has formed a large negative divergence, which is a bearish sign. If the BCH/USD pair breaks down below the 20-day EMA, it can slip to the 50-day SMA. Below this support, a dip to the support line of the channel is probable. We will wait for a reliable buy setup to form before recommending a trade in it.

EOS/USD

EOS triggered both our proposed buy level and the stop loss within a few hours. It thereafter plunged to the support of $6.8299 where buying emerged. Currently, the bulls have again pushed the price above the channel. They will now try to scale the overhead resistance at $8.4790. Above this level, a rally to $9 and above it to $9.60 is possible..

EOS/USD

Both the moving averages are sloping up and the RSI is in positive territory. This shows that the bulls are in command. Our bullish view will be invalidated if the EOS/USD pair reverses direction from close to $8.4790 and breaks down of $6.8299.

LTC/USD

The spike in Litecoin (LTC) stalled at $120.1518. Hopefully, traders would have closed 50% of the long positions around these levels, as suggested in the previous analysis. The trend remains up as both the moving averages are sloping higher and the RSI is in the positive territory. We are keeping a close watch on the negative divergence on the RSI.

LTC/USD

A failure to defend the 20-day EMA will start a deeper correction towards $91. If this support breaks, the LTC/USD pair will turn negative in the short term. Therefore, traders can keep the stops on the remaining long position at $90.

If the pair rebounds from the current levels, it will move up to the $121.9018–$127.6180 resistance zone. A breakout of this zone will increase the probability of a rally to its target objective of $158.91.

BNB/USD

Binance Coin (BNB) again turned down from the resistance line on May 30. This is the fifth instance that the bulls have failed to break out of this barrier. Currently, the cryptocurrency is attempting to stay above the 20-day EMA. If the price rebounds from the 20-day EMA, a rally to the resistance line is probable. If the momentum carries the digital currency above the resistance line, the up move can reach $40 and above it $46.1645899.

BNB/USD

Another possibility is that the BNB/USD pair enters into a range before launching the next up move. As the cryptocurrency is in a strong uptrend, we will suggest a long position once we spot a reliable buy setup.

However, if the bears sink the pair below the 20-day EMA, it can slide to the 50-day SMA. This is a critical support to watch out for because if this breaks down, the bears will have the upper hand.

BSV/USD

Bitcoin SV (BSV) has reached eighth place in terms of market capitalization after skyrocketing higher on May 29. That was followed by a hugely volatile day on May 30, when it reached close to the lifetime highs and then flash crashed to a low of $44.765, all within a few minutes. Thereafter, the price recovered and by the end of the day, the loss was limited to 11.42%.

BSV/USD

Currently, the BSV/USD pair is finding support close to the 50% retracement level of the recent rally from $85.338 to $254. If the support at $169.669 holds, the bulls might attempt to break out of the lifetime highs of $254.130 once again. Above this level, the next target to watch on the upside is $307.789 and above it $340.248.

Conversely, a breakdown of $169.669 can plunge the pair to $149.767. This is an important support, below which the digital currency can dip to $121.432. A vertical rally is unsustainable, hence, a few days of consolidation cannot be ruled out. The cryptocurrency is very volatile and the risk is very high, hence, we shall not suggest a trade in it.

XLM/USD

Stellar (XLM) rallied to an intraday high of $0.15002523 on May 30 but quickly gave back its gains and dipped below the critical level of $0.14861760. It needs to close (UTC time frame) above $0.14861760 to complete an inverse head and shoulders pattern that has a target objective of $0.22466773.

XLM/USD

On the downside, the bulls are attempting to defend the 20-day EMA. Both the moving averages are flattening out and the RSI is just above the midpoint, which points to a consolidation in the short term. If the XLM/USD pair dips below $0.11507853, it can drop to $0.08641170. Traders can wait for a close (UTC time frame) above $0.14861760 to initiate the trade as suggested in our earlier analysis.

ADA/USD

Cardano (ADA) broke above the overhead resistance of $0.094256 on May 30 but quickly gave up its gains and dipped back to the 20-day EMA. As the price did not close (UTC time frame) above the overhead resistance, it did not trigger our buy suggested in an earlier analysis.

ADA/USD

The bulls are trying to keep the ADA/USD pair above the moving averages. If successful, we might see another attempt to break out and close (UTC time frame) above $0.094256. This will complete a rounding bottom that has a target objective of $0.22466773. Traders can enter on a close (UTC time frame) above $0.10 with a stop loss of $0.0730. We do not like the bearish divergence that has formed on the RSI. If the pair slips below $0.0731 it can fall to the next support at $0.057898.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

cointelegraph.com

The post Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Bitcoin SV, Stellar, Cardano: Price Analysis May 31 appeared first on One Btc News Today.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Bitcoin is back at doing what it does best, break out and rally on weekends. It again made a decisive move during the weekend and is pulling the crypto markets higher. The total market capitalization of cryptocurrencies has topped $278 billion and is on its way to the $300 billion mark. This will signal a stupendous comeback from the lows of about $100 billion in mid-December of last year. The rally has been led by Bitcoin and a number of major altcoins have responded positively.

In terms of magnitude of the rise, if the bulls can sustain the current levels or push the prices even higher in the next couple of days, this month will be one of the best months since August 2017. When an asset class is in momentum, it is difficult to predict the end of the rally. Still, we believe that Bitcoin will face a lot of supply between the current levels and $10,000. Vertical rallies are usually unsustainable and can result in waterfall declines. Therefore, traders who still have positions should protect their positions with a suitable stop loss.

BTC/USD

Bitcoin (BTC) prices surged on the weekend. With the latest push, the cryptocurrency has scaled another critical resistance of $8,496.53. It can now rally to the next overhead resistance of $10,000. Both the moving averages are sloping up and the RSI is overbought territory. This shows that the bulls are in command.

BTC/USD

But if the bulls fail to sustain the breakout, the BTC/USD pair might drop back below the support of $8,496.53. The momentum will weaken if the bears break down of the 20-day EMA. Until then, every dip is likely to be purchased. The bears will make a comeback if the leading cryptocurrency falls below $7,413.46.

ETH/USD

Ethereum (ETH) bounced off sharply from the 20-day EMA on May 26. We like the way it has shot up. It is now on its way to challenge $290.92. If the bulls scale this level, the cryptocurrency can rally to the $300–$322 resistance zone.

ETH/USD

Both the moving averages are sloping up and the RSI is in the overbought zone. This suggests that the path of least resistance is to the upside. Contrary to our assumption, if the ETH/USD pair fails to rally above $290.92, the pair might remain range bound for a few days. The trend will weaken if the bears sink the cryptocurrency below the support of $225.39.

XRP/USD

Ripple (XRP) has bounced off the 20-day EMA. It should now attempt to reach the overhead resistance of $0.45. The 20-day EMA is sloping up and the RSI is in positive territory, which suggests that the bulls have the upper hand. If the buyers propel the cryptocurrency above $0.47919, a rally to $0.60 is probable.

XRP/USD

On the other hand, if the bulls fail to scale the overhead resistance of $0.47919, the XRP/USD pair can dip to the 20-day EMA. A breakdown of this support can plummet the price to $0.33108. For now, the stops on the long positions can be retained at $0.2750. We will soon trail the stops to $0.35.

BCH/USD

The rebound from the 20-day EMA has carried Bitcoin Cash (BCH) to the overhead resistance of $452 where it is facing some selling. A breakout of $452 can push the price to the resistance line of the ascending channel. If this is also scaled, the cryptocurrency might quickly move up to $638.99. With both the moving averages trending up and the RSI close to the overbought zone, the advantage is with the bulls.

BCH/USD

But if the BCH/USD pair reverses direction from $452 or from the resistance line of the ascending channel, it can decline to the 20-day EMA. A breakdown of this support will indicate further weakness and can result in a fall to the support line of the channel. Currently, we do not find a reliable buy setup, hence, we are not proposing a trade in it.

LTC/USD

Litecoin (LTC) has continued to move up after breaking out of the overhead resistance on May 24. Both the moving averages are sloping up and the RSI is close to the overbought zone. This shows that the bulls are in command. The target objective on the upside is $158.91.

LTC/USD

However, it is unlikely to be a straight dash to the target levels. The LTC/USD pair might halt at $127.6180. We will continue to trail the stops higher as the pair moves up. Our bullish view will be invalidated if the cryptocurrency reverses direction and plummets below the strong support of $91. Therefore, the stops on the long positions can be kept at $80. The only red flag on the chart is the negative divergence on the RSI.

EOS/USD

EOS closed (UTC time frame) above the overhead resistance of $6.8299 on May 26, which is a bullish sign. The bulls have extended the rally and have cleared the resistance line of the channel, which increases the probability of a move to $9 and above it to $9.60. With both the moving averages sloping up and the RSI close to the overbought zone, the advantage is with the bulls.

EOS/USD

The bulls will lose their advantage if the EOS/USD pair fails to sustain the breakout of the ascending channel. The previous resistance turned support of $6.8299 is the critical level to watch out for on the downside. A breakdown of $6.8299 can plummet the pair to the 20-day EMA, below which the bears will gain the upper hand.

BNB/USD

Though Binance Coin (BNB) broke out of the resistance line and made a new lifetime high on May 26, it could not sustain the higher levels and closed (UTC time frame) below the resistance line. Currently, the bulls are again trying to push the price above the resistance line, after which it can move up to $40 and above it to $46.1645899.

BNB/USD

Conversely, if the bulls fail to scale the resistance line, the BNB/USD pair might correct to the 20-day EMA once again, which is likely to act as a strong support. Both the moving averages are sloping up and the RSI in the overbought zone, which confirms that the trend favors the bulls. The first sign of weakness will be a break below the 20-day EMA. Until then, the bulls are likely to buy the dips. We will wait for a suitable entry point to suggest a trade in it.

XLM/USD

Stellar (XLM) has been holding above the 20-day EMA for the past few days. This is a positive sign. The bulls will now try to push the price through the overhead resistance of $0.14861760. If successful, the digital currency will complete an inverted head and shoulders pattern that has a target objective of $0.22466773. Traders can wait for a close (UTC time frame) above $0.14861760 to buy and keep the stop loss just below $0.1150.

XLM/USD

Our view will be negated if the XLM/USD pair fails to climb above the overhead resistance. It can, thereafter, remain range bound between $0.11507853 and $0.147620 for the next few days. The pair will turn negative if it plunges below both the moving averages.

ADA/USD

Cardano (ADA) has held the support of the moving averages and has bounced off it. This is a positive sign. It should now attempt to ascend its overhead resistance of $0.094256. A breakout and close above this level will complete a reversal pattern that has a target objective of $0.161275.

ADA/USD

Our bullish view will be invalidated if the ADA/USD pair turns down from the overhead resistance and slides below the moving averages. In such a case, a drop to the next support of $0.057898 is probable. The 20-day EMA has gradually started to move up and the RSI is attempting to push further into the positive territory. This suggests that the bulls are attempting to make a comeback. Hence, traders can keep an eye on our recommendation given in an earlier analysis.

TRX/USD

Tron (TRX) broke out and closed (UTC time frame) above the overhead resistance of $0.02815521 on May 26, which is a bullish sign. It should now move up to its first target objective of $0.040. Though there is a minor resistance at $0.03575668, we expect it to be crossed. As the cryptocurrency has broken out of the range after a long time, we expect the rally to surprise on the upside and reach $0.050.

TRX/USD

After a breakout, a retest of the breakout levels is likely. The TRX/USD pair can dip back to the support of $0.02815521, which is likely to hold. The 20-day EMA has started to turn up and the RSI is lose to the overbought zone. This suggests that the bulls have the upper hand.

However, the pair has repeatedly failed to sustain its previous breakouts. If the bears sink the cryptocurrency back into the range, it will lose momentum. Therefore, we are cautious and would like to reduce our risk. We suggest traders trail the stops on the long positions to $0.025.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

cointelegraph.com

The post Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 appeared first on One Btc News Today.

Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000

Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000

Monday, May 27 —  following a mild correction yesterday, the crypto markets have seen strong positive momentum today, with bitcoin (BTC) soaring to its highest price point in over a year. Virtually all of the top 50 cryptocurrencies are seeing solid green, as Coin360 data shows.

Market visualization

Market visualization courtesy of Coin360

Bitcoin has reported over 9% in growth on the day and is trading at $8,727 by press time. Having briefly dipped below $8,000 yesterday, May 26, the top coin saw a sharp rally kick in towards the evening. Bitcoin has seen considerable volatility this week, posting an intra-week low of around $7,550 on May 23 before surging to today’s new price peak.

Bitcoin last traded in the $8,700-800 range over a year ago, in the second week of May 2018.

On the week, Bitcoin has sealed a bullish 10.5% gain.

Bitcoin 13-month price chart

Bitcoin 13-month price chart. Source: CoinMarketCap

In his own technical analysis, trader Peter Brandt has cautioned that bitcoin’s surge ostensibly represents “the FOMO phase of the advance,” and that “once the majority of sold-out crypto bulls capitulate and chase this rally a more sizable correction will likely occur, stopping out the same bulls, who are chasing this advance.”

Largest altcoin by market cap ether (ETH) has also seen solid gains, growing 7.1% on the day to press time to trade at $267.50. Ether has seen strong correlation with bitcoin’s price surge, which kicked off during later trading hours yesterday. Today’s gains brings the altcoin back to its mid-month (May 18) earlier price peak, and in a longer view, to price levels last seen in early September 2018.  

The top altcoin is now trading 7.22% up on the week.

Ether 7-day price chart

Ether 7-day price chart. Source: CoinMarketCap

XRP has seen a 6.9% gain on the day to trade at $0.41 by press time. Yesterday’s renewed upturn has reversed all of the asset’s midweek losses, with XRP now sealing a 3.5% gain on the week.

XRP 7-day price chart

XRP 7-day price chart. Source: CoinMarketCap

Among the top ten cryptocurrencies at press time, all are green. The market-wide price rally includes a 12.1% gain for fifth largest crypto litecoin (LTC), a 9.6% gain for sixth ranked coin eos (EOS) and an 8.2% gain for bitcoin cash (BCH), ranked fourth. Bitcoin cash’s gains come despite new reports of an apparent double spend that followed its mid-May hard fork, as Cointelegraph has reported.

Widening out to the top twenty, all coins are again unanimously green, with several posting double digit gains. These include bitcoin sv (BSV) — ranked 12th and soaring almost 25% on the day — an 11% gain for 19th largest coin nem (XEM) and an over 9% gain for tron (TRX), ranked 11th.

The total market capitalization of all cryptocurrencies is currently around $269.6 billion — back to levels last seen in early August 2018 — with bitcoin dominance at 57.3%.

Total market capitalization of all cryptocurrencies

Total market capitalization of all cryptocurrencies. Source: CoinMarketCap

As Bloomberg today reports, bitcoin’s rally over the past month is ostensibly its strongest since before its historic late 2017 price surge — with an almost 70% gain on the month.

The report cites eToro analyst Mati Greenspan, who commented on the rally:

“Easier to spend means a greater-use case and a greater level of adoption. The tipping point is likely very close now.”

In traditional markets, European stocks have steadied following the continent-wide elections, as Bloomberg reports today. As of press time, the Stoxx Europe 600 Index increased 0.2% and the euro has held steady on forex markets.

Shares in French car manufacturer Renault soared 13.4% in early Paris trading hours, ostensibly buoyed by news of a potential merger with Fiat Chrysler. If finalized, the deal would see the merged companies become the world’s third largest car maker.

cointelegraph.com

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