Category: Litecoin

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

The post Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000 appeared first on One Btc News Today.

Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH

Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH

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.

Instant messaging service Telegram reportedly plans to launch its Telegram Open Network (TON) in the third quarter of this year. It has created a new programming language called Fift, which will help develop and manage TON blockchain smart contracts and interact with the TON Virtual Machine.

On the other hand, Facebook is allegedly planning to launch its own cryptocurrency in early 2020. The company expects its large user base to start using its cryptocurrency in a dozen countries for making purchases, transferring money and more. Mark Zuckerberg, the founder and chief executive of Facebook, has reportedly discussed the project with U.S. Treasury officials along with Mark Carney, the governor of the Bank of England.  

Bitcoin bull Michael Novogratz believes that one of the crypto assets created by the above-mentioned companies is likely to be successful and can even have a “chance to be a real currency.” He also reiterated that the “crypto winter is over” in comments this week. And, according to token rating platform ICObench, the ICO sector is showing a higher success rate as the sentiment improves.

BSV/USD

Bitcoin sv (BSV) was the best performer among the major cryptocurrencies with a rally of above 60% in the past seven days. The boost came amid the news that nChain founder Craig Wright had filed United States copyright registrations for the Bitcoin white paper and the original code used to build Bitcoin. However, the bitcoin community and a few experts do not consider this to be an important event that can alter the fortunes of bitcoin sv. But what do the charts project? Let us find out.

BSV/USD

The BSV/USD pair skyrocketed this week and reached the overhead resistance of $134.360. However, profit booking and selling just above this resistance resulted in the pair giving up a large part of its gains. The cryptocurrency should find some support at the current levels, failing which, the drop can extend to $82.489 and lower.

While the sharp up move from the lows shows buying at lower levels, the failure to hold onto the gains shows a lack of demand at higher levels. The pair will pick up momentum on a close (UTC time frame) above $134.360 and will weaken below $38.528. Until then, it is likely to remain range bound between these two levels.

BNB/USD

Binance coin (BNB) has been one of the strongest performers among the major coins: it has consistently made new highs and is in a strong uptrend. Riding high on its success, cryptocurrency exchange Binance is reportedly planning to offer margin trading to its clients. The exchange is also giving away $1,000 of $ONE tokens to celebrate the launch of the forthcoming token sale. How far can the rally continue? Let us find out.

BNB/USD

The BNB/USD pair is in a strong uptrend and has picked up momentum after breaking out of previous lifetime highs. Earlier, the resistance line had acted as a major roadblock, but the bulls are currently attempting to breakout of it. If successful, the rally can extend to $40 and above it to $46.1645899, which is a 1.618 Fibonacci extension level.

But the rally is getting vertical and the RSI on the weekly charts is threatening to enter deeply overbought territory. This shows that the up move has been overdone in the short-term, and that a minor correction or consolidation can start between $40 and $46.1645899.

LTC/USD

Litecoin (LTC) is benefitting from the positive sentiment in the crypto space, and the forthcoming halving has added to the bullishness. A series of tweets by OKEx pointing to some kind of an announcement regarding Litecoin has also heightened interests. Can the upward move continue?  

LTC/USD

The LTC/USD pair has completed a cup and handle reversal pattern that has a minimum target objective of $158.81. If the momentum continues, the upward move can extend to $172.647. The moving averages completed a bullish crossover a couple of weeks back and the 20-week EMA is sloping up: this shows that the bulls have the upper hand.

Our bullish view will be invalidated if the cryptocurrency fails to sustain the breakout and dips below the support of $91 once again. The support levels to watch on the downside are $84.3439, $74.6054 and below it to $60.1980.

BCH/USD

Two miners who control about 43% of the bitcoin cash (BCH) mining pool, BTC.top and BTC.com, joined hands this week and executed a 51% attack to stop an unknown miner from taking coins that were accidentally sent to “anyone can spend” addresses. In this case, the attackers did not carry out the 51% attack for their own benefit, but still some believe that it shows that the cryptocurrency is too centralized. How does its chart look?

BCH/USD

The BCH/USD pair is currently rising inside an ascending channel. It has crossed above both the moving averages, which is a positive sign. The bulls are facing selling at the resistance line of the channel, but the positive thing is that the pair has not given up ground. If the price holds above the 50-week SMA, we should see another attempt to breakout of the channel. If successful, a rally to $620 is probable.

On the contrary, if the bulls fail to scale the resistance line of the channel, the digital currency can dip to the support line of the channel, closer to $300. A breakdown of this support will break the trend.

DASH/USD

Dash (DASH) released its latest version 0.14 on the mainnet, which is another step leading to version 1.0, dubbed evolution. The upgrade improves the security of the network against 51% mining attacks, the first for proof-of-work networks, according to Dash Core CEO Ryan Taylor. An analysis by Cryptoslate shows that DASH has seen a growth of 58% in the active address count from 2018 to 2019, the largest growth among the major coins. This was reportedly mainly due to the surge in usage in crisis-hit Venezuela.

DASH/USD

The DASH/USD pair has been facing resistance at $176.81 since the past week, and a breakout of this barrier will propel the pair to the next level of $229.24. We expect the bulls to again face selling at these levels. Currently, both the moving averages are on the verge of a bullish crossover and the RSI is in the positive territory. This shows that the bulls are at an advantage.  

However, if the digital currency turns down from $176.81, it might enter into a consolidation. The support of the range will be at $107.36, and a break of this support will be a bearish sign.

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

cointelegraph.com

The post Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH appeared first on One Btc News Today.

Crypto Markets See Major Correction, BTC Below $7,350 as US Stock Futures Trade Lower

Crypto Markets See Major Correction, BTC Below $7,350 as US Stock Futures Trade Lower

Friday, May 17 —  after a week of deep green and bullish price performance, crypto markets today are seeing a major correction, with bitcoin (BTC) dropping below the $7,350 mark, as Coin360 data shows.

Market visualization

Market visualization courtesy of Coin360

Bitcoin has taken a steep price hit, dropping 8% on the day to trade at $7,346 to press time. The top coin had brushed $8,300 yesterday, May 16 — a bullish price point not seen since August 2018.

Despite today’s major correction, bitcoin retains a strong gain of 16.61% on the week.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

Largest altcoin by market cap ether (ETH) has seen a slightly milder drop, and is down 6.3% on the day to press time to trade at $240. The dip follows an intra-week high of above $270 yesterday. Nonetheless, the altcoin retains a 38.7% gain on its 7-day chart.

Ether 7-day price chart

Ether 7-day price chart. Source: CoinMarketCap

XRP has taken a double digit percentage tumble, dropping 10.9% on the day to trade at $0.38 by press time. As in the wider market, XRP saw an intra-week high yesterday. Even with today’s substantial correction, XRP nonetheless holds a strong 27.3% gain on the week.

XRP 7-day price chart

XRP 7-day price chart. Source: CoinMarketCap

Among the top ten cryptocurrencies, all are red, except for stablecoin tether (USDT). The market-wide price downturn includes an 11.8% loss on the day for stellar (XLM), an 11% loss for cardano (ADA) and a 10.2% loss for bitcoin cash (BCH).

Eos and litecoin (LTC) are down 7.9% and 8.6% on the day respectively, while native exchange token binance coin (BNB) is showing relative resilience — down 2.35% on the day — notwithstanding the recent high-profile hack of the exchange.

Widening out to the top twenty, all coins are again in the red, except for 17th largest altcoin cosmos (ATOM), which has seen a non-correlated 7.3% price hike. Red market action spans an 11.2% loss for tron (TRX), a 10.6% loss for dash (DASH) and a 12.3% loss for bitcoin SV (BSV).

Tezos (XTZ) has seen the mildest price hit, losing just 1.15% on the day to trade at $1.66 to press time.

The total market capitalization of all cryptocurrencies is currently around $230.15 billion — down from over $262 billion on May 16.

Total market capitalization of all cryptocurrencies

Total market capitalization of all cryptocurrencies. Source: CoinMarketCap

In response on today’s major market correction, eToro analyst Mati Greenspan has commented that:

“IF the pullback does reverse now and we continue past the recent highs, there is virtually no major levels of resistance until $20,000.”

In crypto regulatory news, leading cryptocurrency exchange Poloniex yesterday announced it will stop offering nine coins to United States-based customers due to uncertain regulations, citing a lack of clarity over their interaction with federal securities laws.

In regard to the ongoing legal action against Bitfinex cryptocurrency exchange, the New York Supreme Court yesterday accepted modifications to the New York Attorney General’s injunction order, which affects both Bitfinex and affiliated stablecoin operator Tether.

In traditional markets, United States stock index futures opened lower this morning, as a mark of ongoing trade tensions between the US and China, as CNBC reports. As of 3:00 a.m. ET, Dow futures reportedly fell 62 points, CNBC notes, with futures on the S&P 500 Index and Nasdaq also slightly down.

cointelegraph.com

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 15

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 15

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.

As the Bitcoin rally picked up momentum, the volume also spiked higher. Bitcoin futures on CME made a new record as the number of traded contracts reached 33,700 on May 13, which was way higher than the previous record of 22,500 contracts that exchanged hands on April 4. While increasing volume is a positive sign, a huge spike in volume can, at times, signal panic buying for the fear of missing out on the gains.

This is also a time when a number of rumors will crop up that can result in short-term spikes. One such rumor was that eBay will start accepting cryptocurrencies, but the same was denied by the company.

United States crypto exchange and wallet service Coinbase has expanded operations in 50 more countries and has introduced USD Coin (USDC) trading in 85 more countries. While this increases the reach of cryptocurrencies. It also provides an opportunity to the people living in inflation-hit nations to escape devaluation of their fiat currencies. Meanwhile, the U.S. Securities and Exchange Commission has postponed its decision on the Bitcoin exchange-traded fund application by Bitwise Asset Management.

Shark Tank’s Kevin O’Leary, based on his personal experience in using Bitcoin for a real estate transaction, has termed the coin as a useless form of currency. We believe that as the markets mature, these troubles will be a thing of the past. Hence, people should look into the future rather than dwell in the past.

BTC/USD

After the sharp run-up of the past few days, Bitcoin (BTC) is taking a breather. It is facing some profit booking close to the overhead resistance of $8,496.53. The digital currency can either enter into a consolidation or a correction from these levels.  

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 1

The first support on the downside is at $7,413.46 and if this level breaks, the slide can extend to the 20-day EMA. We expect one of these supports to stall the pullback. Both the moving averages are trending up, which shows that the BTC/USD pair is in a bullish grip. However, the RSI is deep in overbought territory, which suggests that buying has been overdone in the short term.

Traders can keep the stop loss on the remaining long positions at $7,100. We will watch for the next two days and if the bulls fail to push the price above $8,496.53, we will suggest booking profits on the complete position. On the other hand, if the pair breaks out of $8,496.53, it can move up to $10,000.

ETH/USD

Ethereum (ETH) has picked up momentum in the past two days and has risen above our first target objective of $225. Though we like the way it has rallied, still we suggest traders book profits on 30% of their long positions at the current levels to pocket some gains and raise the stop loss on the remaining to $175, just below the 20-day EMA. If the price sustains above $225.49, the stops can again be raised to break even. The next level to watch is the pattern target of $256. If the momentum continues, a rally to $300 is also possible.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 2

Both the moving averages are sloping up and the RSI is in the overbought zone. This shows that the bulls are in the driver’s seat. Any dip is likely to find support at $200 and below it at the 20-day EMA. Our bullish view will be invalidated if the ETH/USD pair plummets below the 20-day EMA.

XRP/USD

Ripple (XRP) soared on May 14 and broke out of the overhead resistance of $0.33108 and $0.37835. This is a positive sign. It might face some profit booking close to $0.450 from where it might enter into a minor correction or a consolidation.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 3

Any dip will find buyers close to $0.37835. We expect this level to hold and the XRP/USD pair to provide traders an opportunity to enter long positions. However, we will wait for a confirmation that the level is holding before proposing a trade in it.

On the upside, a breakout of $0.45 can clear the path for a rally to $0.60, with minor resistances at $0.50 and $0.55. At times, trades are missed because of large unexpected moves. It is a good trading strategy to wait for a low-risk entry point with a suitable stop loss and not chase the price higher.

BCH/USD

Bitcoin Cash (BCH) is currently facing selling close to the resistance line of the ascending channel. A pullback to the 20-day EMA is a possibility. With both the moving averages sloping up and the RSI in the overbought zone, the bulls have the upper hand.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 4

A breakout and close (UTC time frame) above the channel will be a positive sign and can result in a quick move to $500, followed by a rally to $638.99. The BCH/USD pair has a history of vertical rallies, hence, these targets are achievable.

However, if the pair fails to break out of the channel, it might gradually continue to climb higher. It will weaken and slide to the support line of the channel on a breakdown of the 20-day EMA.

LTC/USD

Litecoin (LTC) closed (UTC time frame) above the overhead resistance of $91 on May 14. This completed a cup and handle pattern that triggered our buy recommendation given in the previous analysis.

The target level to watch on the upside is $158.91, with a minor resistance at $127.6180. The moving averages have turned up and the RSI is in the overbought zone. This shows that the bulls are in command. For now, the stop loss can be kept at $70.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 5

We will watch for the LTC/USD pair to pick up momentum and quickly rally above $102, else the bears will again try to sink the pair back below the breakout level of $91. If the price slips back below $91, it will weaken the breakout. We may close the position if the price sustains below $91.

EOS/USD

EOS is looking strong as it has broken out of the overhead resistance at $6.0726. It can now climb to the next overhead resistance at $6.8299. If this level is also crossed, the digital currency is likely to pick up momentum. The 20-day EMA has started to slope up and the RSI has reached the overbought zone. This suggests that the bulls have the upper hand.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 6

If the EOS/USD pair fails to ascend $6.8299 in the first attempt, it might consolidate near the resistance for a few days or correct toward the 20-day EMA. The trend will turn in favor of the bears if the price slides below the strong support zone of $4.4930–$3.8723.

BNB/USD

Binance Coin (BNB) made a new lifetime high on May 13, which failed to sustain. But it has again risen to new highs today. A cryptocurrency that breaks out to new highs with a strong move signals that there is more to come.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 7

The BNB/USD pair can now move up to the resistance line where it is likely to face some selling. The pair had turned down thrice from this resistance line, hence, it is an important level to watch out for. Any dip will find support at the 20-day EMA.

Both the moving averages are sloping up and the RSI has climbed into the overbought zone. This shows that the path of least resistance is to the upside. However, as we do not find a setup with a good risk to reward ratio, we are not proposing a trade in it.

XLM/USD

Stellar (XLM) has broken out of both the moving averages and the resistance at the long-term downtrend line. This points to an end of the downtrend. There is a minor resistance at $0.13250273 and if this level is crossed, the rally can extend to $0.14861760.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 8

We find a developing inverted head and shoulders pattern on the XLM/USD pair. The pattern will complete on a breakout and close (UTC time frame) above $0.14861760. This gives the pair a target objective of $0.22466773, with a minor resistance at $0.17759016. We will wait for the price to sustain above $0.14861760 before suggesting a trade in it. However, if the bulls fail to push the price above $0.14861760, it might dip to the 20-day EMA once again.

ADA/USD

Cardano (ADA) has been gradually inching higher towards the overhead resistance of $0.094256 for the past few days. If the price breaks out and closes (UTC time frame) above $0.094256, it will complete a rounding bottom pattern that has a target objective of $0.161275.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 9

The 20-day EMA has started to turn up and the RSI has also climbed into the bullish territory. This suggests that bulls have a minor advantage. The traders can buy on a close (UTC time frame) above $0.094256. We will suggest a stop loss after the trade triggers.

On the other hand, if the bulls fail to ascend the overhead resistance of $0.094256, the ADA/USD pair might remain range bound for a few more days. It will turn negative on a break below the recent lows of $0.057898.

TRX/USD

Tron (TRX) has finally broken out of the range. If the bulls sustain the breakout, it will indicate the start of a new uptrend. Therefore, we retain our buy recommendation given in an earlier analysis. As the digital currency had been consolidating for a very long time, we expect the next rally to last long and reach $0.050, with a minor resistance at $0.040.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 10

Contrary to our assumption, if the TRX/USD pair fails to sustain above the range, it will extend its consolidation for a few more days. It will weaken on a breakdown of $0.02094452. The trend will turn negative if the bottom of the range at $0.0183 breaks down.

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 15 appeared first on One Btc News Today.

EBay Denies Rumors It Will Start Accepting Crypto, Despite Advertising at Crypto Event

EBay has denied rumors that it is going to start accepting cryptocurrency as a payment method, according to a Bloomberg report on May 14.

Speculation has been mounting since the e-commerce giant took out ads at the Consensus conference in New York City. One of the billboards said:

“Virtual Currency. It’s happening on eBay.”

It has been suggested that this week’s surge in crypto prices, which has happened without explanation, was linked to hopes that eBay was preparing to embrace crypto.

Given how the online auction site bills itself as “the world’s largest marketplace,” such a move would have been a major milestone in the industry’s quest to achieve mainstream adoption, Bloomberg reports. But addressing the rumors directly, an eBay spokesperson said:

“Cryptocurrency is not accepted as a form of payment on the eBay platform, nor is it part of our payments strategy.”

The online marketplace does currently have a section marked Virtual Currency, where people can use traditional monetary forms to purchase crypto from sellers.

The eBay clarification is not the only rumor that has been discredited over recent days. Excitement had started to build in the crypto community in April when a tweet suggested that TD Ameritrade, which holds an estimated $1.3 trillion in assets, was testing bitcoin (BTC) and litecoin (LTC) spot trading on its brokerage.

But Sunayna Tuteja, the company’s head of digital assets, told Bloomberg:

“Currently we’re not. We have what we call paperMoney, which is what our clients can try for trading strategies. It was a simulation. So there was no actual execution.”

Despite these denials, other major brands have confirmed this week that they will allow customers to spend crypto in their stores. On the first day of the Consensus conference, the likes of Whole Foods Market, Barnes & Noble and Bed Bath & Beyond were confirmed as launch partners for a new app called Spedn, which facilitates crypto transactions via the Flexa network.

cointelegraph.com

The post EBay Denies Rumors It Will Start Accepting Crypto, Despite Advertising at Crypto Event appeared first on One Btc News Today.

Germany’s Second-Top Exchange Börse Stuttgart Lists Ripple and Litecoin-Based ETNs

Germany’s Second-Top Exchange Börse Stuttgart Lists Ripple and Litecoin-Based ETNs

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 11

Börse Stuttgart (SWB), the second-largest stock exchange in Germany, has listed two crypto exchange-traded notes (ETNs), according to a press release shared with Cointelegraph on May 13.

Based on two major cryptocurrencies, XRP and litecoin (LTC), and issued through XBT Provider, the ETNs can now be traded against the Swedish krona (SEK) and euro (EUR) on Börse Stuttgart, Europe’s tenth-largest exchange, the announcement says.

The SWB’s crypto ETNs listing purportedly allows investors to track the future price developments of XRP and LTC through exchange-traded securities, which is the first initiative of its kind in Germany, Boerse Stuttgart executive Jürgen Dietrich explained in the press release.

Similarly to other exchange-traded products, crypto ETNs are reportedly available for trading on the exchange from 8:00 to 22:00 Central European Time (CET).

XRP and LTC-based ETNs have already been trading in Sweden at Boerse Stuttgart-owned exchange Nordic Growth Market (NGM) since April 4.

Earlier this year, Boerse Stuttgart officially launched its crypto-trading application, Bison.

Recently, the world’s second-largest stock exchange Nasdaq was rumored to test trading of a bitcoin (BTC)-based product. Previously, the exchange confirmed its plans to launch bitcoin futures in the first half of 2019.

cointelegraph.com

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 10

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 10

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.

Мarket data is provided by the HitBTC exchange.

Bitcoin has been crossing every overhead resistance with ease. A few months back, the question troubling analysts was where Bitcoin would bottom out, but now the analysts are wondering how long the recovery can last.

Noted Bitcoin bull Galaxy Digital CEO Michael Novogratz expects a new high within the next 18 months. VC investor Tim Draper is even more bullish as he anticipates Bitcoin to garner 5% of the entire market share of the world by 2023.

While companies are expanding their crypto operations to attract more customers, PayPal thinks it is too early to participate in the crypto sector, according to the firm’s CFO John Rainey. Facebook has taken advantage of this and has attracted a lot of talent from PayPal. According to sources, Facebook might launch its FB Coin in the third quarter of the year.

The United States Securities and Exchange Commission (SEC) is reviewing an application by Crescent Crypto Index Services for launching a portfolio of Bitcoin and Ether under the “XBET” ticker on the New York Stock Exchange. While the SEC has not cleared any exchange traded funds (ETFs) to date, they have exuded confidence that an ETF might get the green light in the future if it meets the proper requirements.

BTC/USD

Bitcoin (BTC) has picked up momentum after breaking out of the critical overhead resistance of $5,900. This shows some short covering and buying by the traders who are feeling left behind. Both the moving averages are sloping up and the RSI is in the overbought zone, which shows that the bulls are firmly in the driver’s seat.

However, we anticipate a stiff resistance in the $6,480–$6,700 zone. Therefore, traders can book 50% profits on the existing long positions at the current levels and trail the stops on the rest to $5,800.

BTC/USD

Contrary to our expectation, if the BTC/USD pair breaks out of the overhead resistance zone, it can rally to $7,500 but we give this a low probability of occurring. The pair will weaken if it slides and sustains below the critical support of $5,900 and the 20-day EMA. We expect the cryptocurrency to form a higher floor between $4,255 and $4,914.11 in the next fall.  

ETH/USD

Ethereum (ETH) has been holding above the 20-day EMA for the past two days but the bulls have failed to secure a strong bounce from this level. This shows a lack of demand at higher levels. However, both the moving averages are trending up and the RSI is just above the midpoint. This shows that bulls have a minor advantage.

ETH/USD

The ETH/USD pair will pick up momentum on a breakout above the $190.54–$198.62 resistance zone. The target level to watch on the upside following the breakout is $225 and above it $256.

Our bullish view will be invalidated if the bears sink the pair back into the triangle. If the 50-day SMA gives way, the digital currency can drop to the trendline of the ascending triangle. When a breakout of a bullish pattern fails to pick up momentum, it can be a bull trap. Therefore, we suggest traders trail the stops higher on the existing long positions from $146 to $160.

XRP/USD

Ripple (XRP) continues to trade in the lower half of the $0.27795–$0.33108 range. The bulls are trying to scale the 20-day EMA. If successful, the digital currency can move to the 50-day SMA and above it to $0.33108.

XRP/USD

Conversely, if the XRP/USD pair reverses direction and dives below $0.27795, it can retest the yearly low of $0.24508. The pair will show signs of a possible reversal if it breaks out and sustains above the $0.33108–$0.37835 resistance zone. We expect the digital currency to pick up momentum and rally to $0.45 and above it to $0.565 if it sustains above the zone.

BCH/USD

Bitcoin Cash (BCH) has been trading above the 20-day EMA for the past few days. The 20-day EMA is flat and the RSI is just above 50. This suggests a range-bound trade between $255 and $335.62.

BCH/USD

A consolidation after a sharp rally is a positive sign. We also like the way the bulls quickly bought the dip to the 50-day SMA. However, the BCH/USD pair will turn positive on a breakout and close (UTC time frame) above the range. The target to watch on the upside is $424.02. On the other hand, if the pair breaks down of the $255–$227.70 support zone, it can slide to $166.98.

LTC/USD

Litecoin (LTC) has been holding the moving averages for the past few days. Both the moving averages are flat and the RSI is close to the midpoint. This points to a consolidation in the near term.

LTC/USD

The bulls will now try to propel the LTC/USD pair to the overhead resistance of $91. A breakout and close (UTC time frame) above $91 will complete a cup and handle pattern that has a target objective of $158.91. We will wait for the price to sustain above $91 before recommending a long position in it. Our neutral to bullish view will be invalidated if the pair turns down from the current levels and plummets below the $66.47–$60.198 support zone.

EOS/USD

The bulls are struggling to defend the uptrend line of the rising wedge. A breakdown of the uptrend line will be a negative sign that can sink EOS to $3.20 if the intermittent support levels of $4.4930 and $3.8723 fail to hold.

EOS/USD

Contrary to our assumption, if the bulls keep the EOS/USD pair above the uptrend line of the wedge, it will again move up to $5.50. The 20-day EMA is flattening out and the RSI is hovering between 40 and 60. This points to a probable consolidation in the short term. We should get a clear picture within the next few days. Currently, we are neutral on the pair.

BNB/USD

Binance Coin (BNB) plunged below the uptrend line of the wedge on May 9. It now has a target objective of $15. The 20-day EMA has started to turn down and the RSI is in the negative zone. This shows that the bears have the upper hand in the near term.

BNB/USD

The bulls are presently trying to propel the price back above the uptrend line of the wedge. Any pullback will face resistance at the moving averages. But if the BNB/USD pair scales above the moving averages, it will indicate that the markets have rejected the breakdown, which is a positive sign. We do not find any reliable buy setup in the cryptocurrency; hence, we are not proposing any trade in it.

XLM/USD

Stellar (XLM) is looking weak as it continues to drop towards its next support of $0.08. The 20-day EMA is sloping down and the RSI is close to oversold territory. This shows that the bears have the upper hand.

XLM/USD

Any pullback will face resistance at the 20-day EMA and above it at the 50-day SMA. The XLM/USD pair will signal strength if it sustains above the 50-day SMA. Until then, every pullback is likely to be sold into. We will wait for the pair to stop falling and indicate a turnaround before recommending a trade in it.

ADA/USD

Cardano (ADA) broke down of the critical support at $0.063230 on May 9. This is a negative sign. With this fall, the digital currency has broken down of the 61.8% Fibonacci retracement of the recent rally. If the bears sustain this breakdown, the next stop is $0.053581 and below it $0.040. The 20-day EMA is sloping down and the RSI is in the negative territory, which suggests that the bears have the advantage in the short term.

ADA/USD

Currently, the ADA/USD pair is trying to climb back above $0.063230. If successful, the bulls will attempt to rise above the moving averages once again. The pair will complete a reversal pattern on a breakout and close (UTC time frame) above $0.094256 that has a target objective of $0.161275. We will wait for the digital currency to sustain above $0.094256 before suggesting a long position in it.

TRX/USD

After failing to sustain above the moving average, Tron (TRX) plunged close to the first support at $0.02094452. The bulls have defended this support since mid-January. Hence, a break of this level will indicate weakness and can drag the price to the critical support of $0.0183.

TRX/USD

On the contrary, if the TRX/USD pair rebounds sharply from $0.02094452, the bulls will again try to scale above the moving averages and push the price to the top of the range at $0.02815521. The pair will signal a trend change if it sustains above the range. As the breakout follows an extended stay in the range, we expect the next uptrend to surprise on the upside. Hence, we will retain our existing buy recommendation.

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 10 appeared first on One Btc News Today.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 8

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 8

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.

Hackers have breached the security cover of one of the largest cryptocurrency exchanges, Binance and stole 7,000 bitcoins from the hot wallet of the exchange. Binance has said that it will provide for the loss with its Secure Asset Fund for Users. However, this shows that even the best exchanges, with top-notch security, can also be vulnerable at times.

Hackers and scamsters have been increasingly attracted to cryptocurrencies after the previous bull market. In France, the number of inquiries related to crypto-related scams has increased from 18 in 2016 to over 2,600 in 2018. During the same period, forex and binary options saw a decrease in fraudulent offers.

Misuse of raised funds is also a serious issue. The United States Federal Trade Commission has brought a lawsuit against the authorized signatory and officer of startup iBackPack for misusing funds raised during its crowdfunding campaigns to buy bitcoins.

Investors should not get carried away with lofty promises to get rich overnight and should make an informed decision before investing in any new project.

BTC/USD

Bitcoin (BTC) has continued its uptrend. It broke above the overhead resistance of $5,900 on May 7 but could not close above it. However, we are not seeing any profit booking or aggressive shorting at this critical resistance. Both the moving averages are trending up and the RSI is in the overbought zone. This increases the probability of a rally to $6,480.54. Traders can trail their stops on the remaining long positions to $5,500. If the price sustains above $6,000, the stops can further be tightened to $5,800.

BTC/USD

The first sign of weakness will be if the BTC/USD pair turns down from current levels and breaks below the 20-day EMA. Below this support, the next major level to watch is $4,914.11. If this level holds, the pair might consolidate between $4,914.11 and $5,900 for a few days. The trend will turn negative if the price sinks below the 50-day SMA and the critical support at $4,914.11.

ETH/USD

Ethereum (ETH) triggered our buy proposed at $192 and rallied to an intraday high of $198.62 on May 7. However, the rally could not scale the psychological resistance of $200 and it quickly gave up all its gains. It corrected to the 20-day EMA, which is providing some support. The 20-day EMA has started to slope up and the RSI is in the positive zone. This suggests that the bulls have the advantage in the short term.

ETH/USD

If the ETH/USD pair breaks out of $200, it can move up to $225 and above it to $256. Traders can trail the stops to $165 if the pair sustains above $200 for a day. The digital currency will weaken if the bears sink the price below the breakout levels of $167.20 and the 50-day SMA. For now, the stops can be retained at $146.

XRP/USD

Ripple (XRP) has been trading close to the 20-day EMA for the past few days. A breakout of the moving averages can propel it to $0.33108, which is a major resistance. If the bulls fail to scale this level, the digital currency might continue its consolidation for a few more days.

XRP/USD

However, if the XRP/USD pair breaks out and closes (UTC time frame) above $0.33108, it can move up to $0.37835. A breakout of this level is likely to start a new up move that can carry the pair to $0.45 and higher.

On the other hand, if the pair turns down from the current levels and plummets below $0.27795, it can correct to $0.24508. As the cryptocurrency has been a huge underperformer, we will wait for a confirmation of the start of a new uptrend before suggesting a trade in it.

BCH/USD

Bitcoin Cash (BCH) is likely to remain volatile between the resistance at $335.62 and support at $255. The 20-day EMA is flattening out and the RSI is just above the midpoint. This points to a balance between the bulls and bears in the near term.

BCH/USD

The advantage will tilt in favor of the buyers if the BCH/USD pair breaks out of the overhead resistance zone of $335.62–$363.30. Above this zone, a rally to $424.02 and higher is likely. On the other hand, the bears will have the upper hand if the pair sinks below the support zone of $255 and $227.70. If this zone breaks down, a 100% retracement of the recent rally is probable that will take the price down to $166.98.

LTC/USD

The bulls have been defending the moving averages for the past few days. A bounce from the current levels will carry Litecoin (LTC) to $84.3439 and above it to $91. The moving averages have flattened out and the RSI is close to 50. This suggests range-bound trading in the next few days.

LTC/USD

The LTC/USD pair will turn positive if it breaks out and closes (UTC time frame) above $91, as it will complete a cup and handle pattern. This has a target objective of $158.91. Conversely, the pair will turn negative if it drops below the support zone of $66.70 and $60.198. We will wait for the digital currency to close above $91 before suggesting a trade in it.

EOS/USD

EOS has been trying to stay above the uptrend line of the rising wedge for the past few days. The 20-day EMA is flat and the RSI is at the center. This points to a consolidation in the short-term.

EOS/USD

If the bears sink the digital currency below the uptrend line of the wedge, it can fall to $4.4930 and below it to $3.8723. If both these strong supports fail to hold, the next level to watch is $3.20.

On the contrary, if the bulls defend the uptrend line and the EOS/USD pair rebounds sharply from the current levels, it can rally to $5.50 and above it to $6.0726. We expect the pair to face stiff resistance at $6.8299. We do not find a buy setup at the current levels; hence, we are not suggesting a trade in it.

BNB/USD

Binance Coin (BNB) closed (UTC time frame) well below the 20-day EMA on May 7, the first such instance since Feb. 1 of this year. This is a negative sign as it signals a likely trend change. The bulls are currently attempting to defend the critical support at the 50-day SMA.

BNB/USD

If the BNB/USD pair dives below the 50-day SMA, it will complete a breakdown of the rising wedge pattern that can drag the price to $15 and lower.

On the other hand, if the pair bounces off the 50-day SMA, it might remain range bound for a few days. The flattening moving averages and the RSI just below the center suggests an equilibrium between the buyers and sellers.

XLM/USD

Stellar (XLM) has slipped to the critical support at $0.09478125. If the price slips and closes (UTC time frame) below this support, it can slide to $0.080. The 20-day EMA is sloping down and the RSI is close to oversold levels. This suggests that the bears are in command.

XLM/USD

Contrary to our assumption, if the XLM/USD pair rebounds sharply from the current support and breaks out of both the moving averages, it will indicate the possibility of a resumption of the recovery. We will wait for the pair to stop falling and form a reliable bullish pattern before recommending a trade in it.

ADA/USD

Cardano (ADA) has dipped close to the critical support of $0.063230. If this support breaks, it can plunge to $0.040. The moving averages have completed a bearish crossover and the RSI is in the negative zone, which shows that the bears have the upper hand.

ADA/USD

However, if the support at $0.063230 holds, the bulls will again attempt to break out of the moving averages and rally to $0.094256. The ADA/USD pair will complete a reversal pattern on a breakout and close (UTC time frame) above $0.094256. This pattern has a target objective of $0.161275. Therefore, we will suggest long positions on a breakout and close (UTC time frame) above $0.094256. Until then, we remain neutral on the pair.

TRX/USD

Tron (TRX) has been inching higher for the past few days. It is attempting to rise to the top of the $0.0183 to $0.02815521 range. The digital currency has stayed in this range for almost nine months. Attempts to break out and break down of it were short-lived.

TRX/USD

If the TRX/USD pair turns down from the resistance of the range, it will extend its consolidation for a few more days.

On the other hand, a breakout and close (UTC time frame) of the range will be the first sign that the markets are keen to start a new uptrend. Therefore, we retain our buy recommendation given in our earlier analysis.

Contrary to our assumption, if the price plunges from the current levels, it can drop to $0.02094452 and below it to $0.0183.

Мarket data is provided by the HitBTC exchange. Цharts 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 8 appeared first on One Btc News Today.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 6

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 6

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.

Though institutional players have been dabbling in cryptocurrencies, they are yet to take sizeable positions. This might change with the launch of Bitcoin trading by Fidelity. According to certain sources, the financial giant is only weeks away from offering cryptocurrency trading for institutional clients.

While Bitcoin futures trading is already available, an unnamed official of the Commodity Futures Trading Commission said that the regulator can allow ether (ETH) futures trading if it fulfills the requirements. Futures trading is likely to increase liquidity and allow institutional players to hedge their positions. As the markets grow, these instruments will be used more and more by the large players to keep their risk under control.

However, not everyone is bullish on cryptocurrencies. Legendary investor, Warren Buffett, and American economist and Nobel Prize winner Joseph Stiglitz have recently reiterated their reservations on cryptocurrencies. We believe, with advancements in technology, gradually, most people will realize the potential of cryptocurrencies and blockchain technology. Until then, pockets of opposition is to be expected.

When the market is trending up, even minor positive news is lauded by investors. When the price stops to moving up even with bullish news, it is time for consolidation or a minor correction. After the strong recovery, will the rally continue or will hit a roadblock? Let’s find out.

BTC/USD

As expected, Bitcoin (BTC) did not clear the overhead resistance of $5,900 at the first instance. However, we like the way it has not given up any ground. The bulls are trying to hold the price above $5,600, which is a positive sign.

Both the moving averages are sloping up and the RSI is close to the overbought zone. This suggests that the bulls are in command. If the cryptocurrency consolidates close to $5,900, it increases the probability of an upward breakout and a rally to $6,480.54. We anticipate a stiff resistance in the $6,000–$6,480.54 zone, from where the price might either correct or enter into a range.

BTC/USD

Any dip below $5,600 is likely to find support at the 20-day EMA. The BTC/USD pair has not closed (UTC time frame) below the 20-day EMA for two days in a row since breaking above it on February 8. This is a positive sign and it also confirms the 20-day EMA as a strong support.

But if the bears sink the pair below the 20-day EMA, it can fall to $4,914.11. The 50-day SMA is also close to this level, hence, the bulls are likely to defend this zone. We suggest traders retain the stop loss on remaining long positions at $5,400.

ETH/USD

Ethereum (ETH) has held above the 20-day EMA and the support of $167.20 after breaking out of it. The intraday dips below the supports were purchased, which shows buying at lower levels. The moving averages have gradually started to slope up and the RSI has jumped into positive territory. This suggests that the bulls are at an advantage.

ETH/USD

If the ETH/USD pair breaks out of $180–$190.54 resistance zone, it is likely to pick up momentum and rally to $225 and above it to $256. Therefore, we retain the buy recommendation given in the previous analysis.

Contrary to our expectation, if the pair reverses direction from the overhead resistance and plummets below the 50-day SMA, it will indicate weakness. The next few days are critical for the digital currency as it will determine the next leg of the trend.

XRP/USD

Ripple (XRP) again failed to scale above the 20-day EMA and the downtrend line. This shows a lack of buyers at higher levels. The price has again slipped to the bottom half of the range. If the bears sink the digital currency below $0.27795, it can retest the yearly low of $0.24508. This will be a major sentiment breaker.

XRP/USD

If the support at $0.27795 holds, the XRP/USD pair might remain range bound for a few days. The first sign of strength will be a breakout and close (UTC time frame) above $0.33108. It will pick up momentum above $0.37835. As the pair has been a huge underperformer, we shall wait for it to show sustained buying before recommending a trade in it.

BCH/USD

Bitcoin Cash (BCH) is range bound between $255 and $335.62. The bulls are currently attempting to hold the price above the 20-day EMA. If successful, it can rise to the top of the range. A breakout of the $335.62–$363.30 resistance zone will indicate strength and can carry the cryptocurrency to $424.02 and higher.

BCH/USD

On the other hand, a breakdown of the 20-day EMA will drag the BCH/USD pair to the support at $255. The 50-day SMA is also located close by, hence, we expect a strong defense by the bulls at this level. The trend will turn in favor of the bears if the pair sinks below the intraday low of April 29 at $227.70. Currently, we do not find a trade which offers a good risk to reward ratio, hence, we are not recommending any positions in it.

LTC/USD

Litecoin (LTC) reversed direction from $82.68 on May 4. It has currently fallen to the 50-day SMA. A break of this support can sink the cryptocurrency to $70.3549. If this support also breaks, the next stop is $62.45. The trend will turn negative below this level.

LTC/USD

Both the moving averages have flattened out, which points to a range formation in the short term. Our view will be invalidated if the LTC/USD pair rebounds off the current levels and breaks out of $91.

A breakout and close (UTC time frame) above $91 will complete a cup and handle pattern, which has a target objective of $158.91. We will wait for the breakout before recommending a trade in it.

EOS/USD

EOS turned down from $5.4507 on May 3 and again dipped below the 20-day EMA. This shows a lack of demand at higher levels. The price is currently at the critical support of the uptrend line of the wedge. A breakdown of the wedge has a pattern target of $3. Though the $4.4930–$3.8723 zone is a strong support, we expect it to break after holding out for a short period of time.    

EOS/USD

Contrary to our assumption, if the EOS/USD pair bounces off the support and rallies above $5.50, it can move up to $6.0726 and above it $6.8299.

The 20-day EMA is flattening out and the RSI is close to the midpoint. This suggests a consolidation in the near term. We currently remain neutral on the digital currency.

BNB/USD

Binance Coin (BNB) continues to trade close to the 20-day EMA. Both the moving averages are trending up, which is a positive sign, but the negative divergence developing on the RSI is a red flag.

BNB/USD

If the BNB/USD pair slips below the 20-day EMA, it can drop to the 50-day SMA. A breakdown of this support will complete a bearish rising wedge pattern that can drag the price to $15 and lower.

On the other hand, if the pair bounces off the 20-day EMA or the 50-day SMA, it will try to rise to new highs once again. We will wait for a buy setup to form before recommending a trade in it.

XLM/USD

Stellar (XLM) turned down from the moving averages and broke below the uptrend line once again. The bears are currently attempting to defend the immediate support zone of $0.09750928–$0.09478125. If this support breaks, it can drag the price to $0.08. The down sloping 20-day EMA and the RSI in the negative zone shows that the bears are in command.  

XLM/USD

Our bearish view will be invalidated if the XLM/USD pair reverses direction from the current levels and rises above the 50-day SMA. In such a case, it can move up to $0.12039489 and above it to $0.13250273. We will wait for a reversal pattern to form before suggesting a trade in it.

ADA/USD

Cardano (ADA) turned down from the moving averages, which is a negative sign. It has dipped back to the support. A break of $0.063230 will weaken it further. The moving averages have completed a bearish crossover and the RSI is in the negative zone. This shows that the bears have the upper hand.

ADA/USD

But if the ADA/USD pair bounces off the support and rises above the moving averages, it can move up to $0.082952 and if this level is crossed, it can reach $0.094256.

The pair will complete a cup and handle pattern on a breakout and close (UTC time frame) above $0.094256. This gives it a pattern target of $0.161275. We шиll wait for the digital currency to complete the bullish pattern before proposing a trade in it.

TRX/USD

Tron (TRX) is finding it difficult to break out of the moving averages but the positive thing is that it has not given up ground. This increases the probability of a breakout and a move to the top of the range at $0.02815521.

TRX/USD

The TRX/USD pair will signal strength after it sustains above the range. It will confirm the start of a new up move after it rises above the overhead resistance of $0.03278079. Therefore, we retain our recommendation of going long in two batches outlined in our earlier analysis.

Contrary to our expectation, if the pair turns down from the current levels, it can drop to $0.02094452 and if this support breaks, it can correct to $0.01830.

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 6 appeared first on One Btc News Today.