Day: June 29, 2018

Below $0.50: XRP Prices Fall to New 2018 Lows

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The price of XRP slid below $0.43 on Friday, hitting a new low for 2018. The world’s third-largest cryptocurrency by market capitalization fell to $0.424 at 13:00 UTC, surpassing the prior low of $0.438 seen just five days ago on the Bitfinex exchange. XRP has not recorded a daily close below $0.42 since December 12th, 2017. As of press time, the figure has risen above the low, back to averaging a price of $0.43 according to the CoinDesk XRP Price Index. Current prices reflect a 24-hour drop of 3.5 percent…

Many Coins hit Zero | Less than 4% of Crypto Coins are Successful

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Today has not been the best day for cryptocurrencies everywhere. With Bitcoin declining below the critical $6K level, it marks the furthest drop in the coin since November. Declining as much as 4.2 percent on Friday, it is currently trading around the $5,900 mark; this is whopping 59 percent decline from its highs at the beginning of this year. Coins Hit Zero As with many things, where leaders go the rest will follow and the cryptocurrency market seems to be reflective of that adage. For example, today also saw Ethereum and Bitcoin Cash fall…

Bitcoin Cash Getting Much Weaker

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Bitcoin Cash may well head to $640 or $630 soon, as there’s a new bearish trend line at $690. The crypto is trading at $662, having already tested the local low at $645 and then pulled back. The cryptocurrency is under pressure, according to Dmitriy Gurkovskiy, Chief Analyst at RoboForex. This means Bitcoin Cash is unlikely to stay long near $700. In case the sellers remain active, it will soon reach $630. Losses are already high, investors say, which could be clearly seen after BCH went below $665. In theory,…

Bitcoin Faces Fresh 2018 Lows After Close Below $6,000 Support

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Bitcoin (BTC) could post new 2018 lows over the weekend, having found acceptance below key price support. Despite signs of a possible corrective rally seen earlier yesterday, the leading cryptocurrency closed below $6,000 for the first time since November 12, signaling a downside break of a major support (February low). While the bears had briefly pushed prices down to $5,755 (2018 low) last Sunday, a close below $6,000 had remained elusive. Now that prices sit below $6,000, the focus is back on the long-run bearish technical charts, which continue to…

Bitcoin, Ethereum, Ripple, and Major Coins Drop 5%; Crypto Market Loses $9 Billion

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The cryptocurrency market has lost over $9 billion over the past 24 hours as the valuation of the market dropped to $233 billion. Major cryptocurrencies including bitcoin, Ethereum, Ripple, Bitcoin Cash, and others dropped by more than 5 percent. Bloodbath Yesterday, CCN reported that a downtrend is expected due to the low volume of bitcoin and Ether, the native cryptocurrency of the Ethereum blockchain protocol. CCN’s report read: “At this rate, the bitcoin price could dip as low as $5,800 in the short-term, especially if the daily volume of BTC…

Bitcoin Price Watch: BTC/USD Broke Key Support

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Key Points Bitcoin price broke down and cleared a major support near the $6,000 level against the US Dollar. Yesterday’s highlighted declining channel with support at $5,950 was breached on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now well below the $6,000 support and the 100 hourly simple moving average. Bitcoin price moved into a bearish zone below $6,000 against the US Dollar. BTC/USD may perhaps extend its slide towards the $5,650 level in the near term. Bitcoin Price Analysis After trading in…

Cardano Price Analysis: ADA/USD Could Test $0.1100

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Key Highlights ADA price is under heavy pressure and is currently trading well below $0.1300 against the US Dollar (tethered). There is a crucial bearish trend line formed with resistance at $0.1210 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is likely to continue its downside move towards the $0.1100 support level in the near term. Cardano price extended its slide against the US Dollar and Bitcoin. ADA/USD remains at a risk of more losses towards the $0.1100 and $0.1000 levels. Cardano Price Analysis…

Ripple Price Analysis: XRP/USD Targets Fresh Lows

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Key Highlights Ripple price failed to move above the $0.4750 resistance and declined against the US dollar. There is a major bearish trend line in place with resistance near $0.4600 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could accelerate declines below $0.4300 and it may even trade to a new low in the near term. Ripple price is facing a heavy selling interest against the US Dollar and Bitcoin. XRP/USD is likely to decline further below the $0.4300 and $0.4200 levels. Ripple Price…

Ethereum Price Analysis: ETH/USD Could Decline Further

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Key Highlights ETH price extended its decline and traded to a new weekly low at $415.54 against the US Dollar. There is a major bearish trend line forming with resistance near $435 on the hourly chart of ETH/USD (data feed via Kraken). The pair is in a bearish zone and it could extend its decline towards the $405-410 levels in the near term. Ethereum price is struggling to recover against the US Dollar and Bitcoin. ETH/USD may perhaps decline further below the $415 low if buyers continue to struggle. Ethereum…

Tron (TRX) Price Watch: Bulls Shrug Off Mainnet Launch

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Tron Price Key Highlights Tron was previously consolidating inside a descending triangle as it formed lower highs and found support at 0.38. Price is now breaking through support to indicate that further losses are in the cards. The highly-anticipated mainnet launch didn’t seem to have much of an impact on price as expected. Tron could be poised for more losses as it breaks below the descending triangle bottom on the 4-hour time frame. Technical Indicators Signals The 100 SMA is below the longer-term 200  SMA to confirm that the path…