Month: June 2018

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…

Bitcoin Cash Price Analysis: BCH/USD Resumes Its Slide

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Key Points ·         Bitcoin cash price declined further and moved to a new monthly low at $650 against the US Dollar. ·         There is a new connecting bearish trend line formed with resistance near $690 on the hourly chart of the BCH/USD pair (data feed from Kraken). ·         The pair is likely to extend losses towards the $640 and $630 levels in the near term. Bitcoin cash price is back in a downtrend below $700 against the US Dollar. BCH/USD may perhaps continue to decline towards the $630 level if…

Neo’s Next Act? $700 Million Crypto Ontology Is About to Go Live

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If all goes well, $700 million worth of cryptocurrency is about to find a new home. That’s because Shanghai-based Ontology, a project closely tied to the “smart economy” blockchain Neo, is expected to launch its live blockchain on June 30, a step that will find one of the top 20 crypto assets finally releasing its proprietary technology. Described as an enterprise-focused platform, Ontology is seeking to provide a high volume of fast and cheap transactions, all while helping businesses grapple with the thorny problems of interoperability and digital identity. As…

Bitcoin (BTC) Price Watch: Another Day, Another Breakdown

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Bitcoin Price Key Highlights Bitcoin price was previously consolidating in an ascending triangle pattern before breaking lower. This suggests that further losses are in the cards, especially as a small bearish flag is forming. Technical indicators signals are reflecting a slowdown in bearish momentum, though. Bitcoin price could be in for more losses as it broke below the ascending triangle, but technical indicators say otherwise. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside. In…

Cardano (ADA) Technical Analysis

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Charles Hoskinson is the man behind Cardano and leads the Cardano Foundation. He’s authoritative and spearheads Cardano’s development. In the spirit of interoperability, he reached out to Justin Sun of Tron. In a publicized tweet, he asked him to consider integrating Mantis, which ETC uses, instead of their code which appears to be an “Ethereum Java” fork. Even though this didn’t affect price, ADA is relatively stable and testing major support at 12 cents. From the News In 10 short years, blockchain and crypto has been propelled to the mainstream.…

EOS, Litecoin, Stellar Lumens, Tron and IOTA Technical Analysis

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Although we are yet to see confirmations, the fact that most alt coin prices as Litecoin, IOTA, EOS and to some degree Stellar Lumens are stable and trading within tight ranges means bear pressure is slowing down. Well, it may be a coincidence because this week marks the end of bearish June where pull backs are common. We shall nonetheless take the optimistic approach waiting for prices to edge past key resistance line forming a spring board for further gains in the second half of the year. Let’s have a…