Day: November 29, 2019

Black Friday Rally to $170 for Ether? — Here’s What Must Happen

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Earlier this week Ethereum’s token Ether (ETH) took a serious tumble as Bitcoin (BTC) price swiftly broke down to $6,560 on Nov. 25. The price dropped through numerous supports, forming a bottom at $131.60, a point not seen since March 25.  As one would expect, Bitcoin’s drop to $6,560 quickly led the crypto market to become oversold and a strong relief rally took place with many altcoins. Bitcoin eventually followed with a 3-day $1,000 recovery, which brought the price as high as $7,600 on Nov. 27.  Bitcoin’s inability to stay…

Bitcoin (BTC) Resilience Pauses But Not Out of Woods Yet

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Bitcoin price is consolidating gains above the $7,400 and $7,295 support levels against the US Dollar. The price is likely to accelerate higher once it clears the $7,600 and $7,700 resistance levels. There is a key declining channel forming with resistance near $7,610 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains well supported on dips near the $7,400 and $7,300 levels in the near term. Bitcoin price is likely forming a bullish pattern above $7,400 against the US Dollar. BTC could soon rally…

3iQ Files Prospectus to Float Bitcoin Fund via IPO on Toronto Stock Exchange

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Canadian investment fund manager 3iQ announced on Thursday it has filed and been noted on its preliminary prospectus for Bitcoin Fund in relation to an initial public offering of Class A units and Class F units at a price of $10.00 USD per unit. This step is believed to widen its investor base. As per the announcement, this fund is a closed-end investment fund created as a trust under the laws of the Province of Ontario and the units will be an “eligible qualified investment for registered investment accounts.” The…

Crypto Market Cap And Bitcoin Target More Upsides: BCH, BNB, EOS, TRX Analysis

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The total crypto market cap is now placed nicely above the $190.0B support area. Bitcoin price is holding the $7,300 and $7,400 support levels. EOS price is currently consolidating above the $2.600 level and it could rise towards the $2.85 level. Binance Coin (BNB) is struggling to gain momentum above the $16.00 and $16.20 resistance levels. BCH price is currently consolidating near the $220 pivot level. Tron (TRX) price is facing a strong resistance near the $0.0160 and $0.0162 levels. The crypto market cap and bitcoin (BTC) are showing positive…

Cardano’s Payment Gateway for Merchants Is Now Live

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The Cardano Foundation, the firm behind the 12th biggest cryptocurrency Cardano (ADA), has launched AdaPay, an ADA payment gateway for merchants. Developed by the Cardano Foundation and enterprise-grade fintech platform Coti, the solution allows merchants to accept ADA payments with “near-instant” settlement in 35 fiat currencies directly in their bank accounts, the firm announced Nov. 27. The payment gateway was first announced in October 2019 The Cardano Foundation and Coti first announced their plans for the ADA payment gateway on Oct. 23. The payment solution is now purportedly available to…

Ripple (XRP) Price Uptrend Intact For This Reason

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Ripple price is trading above a couple of important supports near $0.2200 against the US dollar. The price is facing a major hurdle near the $0.2280 and $0.2350 resistance levels. Yesterday’s highlighted major ascending channel is intact with support near $0.2230 on the hourly chart of the XRP/USD pair (data source from Kraken). The bulls are likely to remain in action unless the price breaks the $0.2200 support area. Ripple price is showing a lot of positive signs against the US Dollar, and bitcoin is above $7,500. XRP price could…

Ethereum (ETH) Could Make Sustained Move Higher

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Ethereum is still facing resistance near the $155 and $156 levels levels against the US Dollar. The price is likely to make a sustained move higher once it breaks the $156 resistance. There is a key declining channel forming or a bullish flag with resistance near $154 on the hourly chart of ETH/USD (data feed via Kraken). The price could start a fresh decline only if it settles below the $142 support area. Ethereum price is consolidating gains above key supports versus the US Dollar, similar to bitcoin. ETH price…

Is Plustoken to Blame for Bitcoin’s Sell-Off?

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Armchair theorists love postulating the reasons behind bitcoin’s latest price rise or sell-off. From China FUD to exchange hacks, anything and everything is fair game for blame. Plustoken is the latest bitcoin bear-maker that’s being credited with the last three months of downward price action. But is the revenue from a ponzi coin really responsible for bitcoin’s drop, or are there broader forces at play? Also read: US Judge Denies Customer’s Plea to Quash IRS Bitstamp Inquiry Anatomy of a Scam In June, the ringleaders of Plustoken were arrested by…