Day: August 13, 2018

Bitcoin Price Watch: BTC/USD Could Rebound Above $6,500

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Key Points Bitcoin price found support near the $5,970-6,000 area and recovered nicely against the US Dollar. There is a major contracting triangle forming with resistance near $6,480 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must break the $6,480 and $6,570 resistance levels to gain upside momentum in the near term. Bitcoin price is showing positive signs above $6,280 against the US Dollar. BTC/USD could soon break the $6,480 and $6,570 resistances to rebound further. Bitcoin Price Analysis This past week, we saw…

Where Roads Can’t Reach, Blockchain Drones Just Might Travel

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A metal frame with four small and two large propellers – carrying a container the size of a refrigerator – rises into the air with a roar, hovering above an empty road amidst snowy fields. The video was shot on the airfield near the Russian city of Kazan, which is located to the south-east of Moscow, and the machine is a SKYF drone, designed by a team of Russian aviation engineers. According to its makers, the drone can carry up to 880 pounds, travel as far as 220 miles and work…

Cardano Price Analysis: ADA/USD Sellers Remain in Control Below $0.12

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Key Highlights ADA price extended declines and traded to a new monthly low at $0.1070 against the US Dollar (tethered). There is a crucial bearish trend line formed with resistance near $0.1170 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair could drop further if buyers fail to push the price above $0.1170 and $0.1200. Cardano price is facing an uphill task against the US Dollar and Bitcoin. ADA/USD remains at a risk of more losses below the $0.1100 level in the near term. Cardano…

Ripple Price Analysis: XRP/USD Could Decline To $0.2600

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Key Highlights Ripple price extended losses and traded below the $0.3000 support level against the US dollar. There is a key bearish trend line forming with resistance near the $0.3040 level on the hourly chart of the XRP/USD pair (data source from Kraken). The pair remains at a risk of more losses below the $0.2900 and $0.2800 support levels in the near term. Ripple price is struggling to rebound against the US Dollar and Bitcoin. XRP/USD could extend declines below $0.2800 and it may perhaps test $0.2600. Ripple Price Resistance…

Ethereum Price Analysis: ETH/USD Remains at Risk of More Declines

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Key Highlights ETH price recovered a few points after trading as low as $304.26 against the US Dollar. There is a major bearish trend line in place with resistance at $320 on the hourly chart of ETH/USD (data feed via Kraken). The pair is struggling to move above the $320 and $328 resistance levels, and it remains at a risk below $310. Ethereum price remains in a downtrend against the US Dollar and bitcoin. ETH/USD must clear the $320 and $330 resistance levels to recover towards $355. Ethereum Price Trend…

Controversial Stablecoin Tether Issues New Batch of USDT Tokens Worth $50 Million

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Tether (USDT) has issued new tokens worth $50 million on August 11, according to block explorer OmniExplorer. In late March, Tether had released 300 mln USDT tokens priced at $1 per token. Over the past 30 days, Tether’s market capitalization lost around $300 million, down from $2.7 billion in mid-July to the current $2.4 billion, according CoinMarketCap. Tether market cap 1 month chart. Source: Coinmarketcap Tether is now in second place after Bitcoin (BTC) in terms of highest daily trading volumes, seeing $4.2 billion in trades a day or 28.16…

Ethereum Classic (ETC) Price Watch: Short-Term Breakdown, But Long-Term Floor Holding

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Ethereum Classic Price Key Highlights Ethereum Classic recently tumbled below a short-term ascending trend line to show that sellers are winning out. However, price is also encountering strong support at the long-term floor around $13. A bounce off this level could lead to a test of the broken short-term trend line or a move to the next area of interest. Ethereum Classic price is fighting to keep its head above the long-term floor as it recently fell below a short-term trend line. Technical Indicators Signals The 100 SMA recently crossed…

$6,000 a ‘Crucial’ Level for Bitcoin Price: Canadian Crypto Fund

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Bitcoin’s $6,000 price region has been described as a crucial support by Rivemont Crypto Fund, based in Canada. The details of this description is recorded in a post on the company’s facebook account where the factors leading to this conclusion were discussed. A Strong Support Region The next direction of Bitcoin price has been a lingering subject within the ecosystem for quite sometime now. For most part of Q2 2018, Bitcoin price has hovered around this region with multiple bounce off a major support. Bitcoin price action in the last…

Bitcoin Cash Price Analysis: BCH/USD Consolidating Above $550

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Key Points ·         Bitcoin cash price started consolidating losses after trading to the $540 low against the US Dollar. ·         There is a key connecting bearish trend line formed with resistance at $580 on the hourly chart of the BCH/USD pair (data feed from Kraken). ·         The pair might continue to struggle to break the $580 and $600 resistance levels in the near term. Bitcoin cash price is under pressure below $600 against the US Dollar. BCH/USD may perhaps attempt a recovery if buyers push the price above $580 and…

Bitcoin (BTC) Price Watch: Still Waiting for Directional Clues

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Bitcoin Price Key Highlights Bitcoin price is trending below a short-term descending trend line as it hovers at the long-term floor. Traders are likely waiting for the next catalysts to decide which direction the breakout could take. Technical indicators appear to be suggesting a slowdown in bullish momentum soon. Bitcoin price is still trending lower on the short-term time frame but buyers are defending the long-term floor. Technical Indicators Signals The 100 SMA is still above the longer-term 200 SMA but is gearing up for a bearish crossover to signal…