Day: April 13, 2020

Bitcoin Price Pumps, Then Dumps Below $7K Mirroring S&P Futures

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Bitcoin (BTC) price has again dropped below $7,000 and at the time of writing the digital asset is struggling to hold above $6,700. The sharp downside to a new weekly low at $6,575 occurred despite an exciting Easter Sunday, which saw Bitcoin price drop to $6,772, then abruptly rebound to $7,176.  As reported earlier by Cointelegraph, top crypto traders now expect the price to drop lower to $6,400 before possibly retesting $5,800.   Crypto market daily performance. Source: Coin360 Data from Skew also shows that the abrupt correction lower led to…

Ripple (XRP) Is Plunging and it’s Vulnerable For A Bigger Decline

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Ripple failed to stay above the $0.1900 support and declined sharply against the US Dollar. XRP price remains at a risk of more losses below the $0.1800 support area Ripple price is down more than 2% and it settled below the $0.1880 level against the US dollar. A new weekly low is formed near $0.1812 and the price is now well below the 100 hourly simple moving average. There was a break below a major ascending channel with support near $0.1900 on the hourly chart of the XRP/USD pair (data…

Japanese Crypto Exchange DeCurret Issues $25 Million in New Shares

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DeCurret, the exchange promoting cryptocurrency to be used as a payment method for Japan’s massive public transportation system, just restructured its capital. According to an April 10 press release by the crypto exchange, DeCurret announced that it had issued new shares worth 2.75 billion yen — approximately $25 million — in a third-party allocation of shares. The company plans to use the capital to “enhance transaction services for existing virtual currencies” and to promote the “expansion of digital currency and settlement services”. Crypto used as payment for public transportation in…

Ethereum Price Won’t Go Down Quietly: Risk of Bounce Grows

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Ethereum failed to clear the $162 resistance and declined recently against the US Dollar. ETH price is now approaching the main $145 support, where the bulls might take a stand. Ethereum is showing a few bearish signs below the $155 and $162 resistance levels. A new monthly low is formed near $148 and the price is currently consolidating. There are two key bearish trend lines forming with resistance near $161 and $165 on the hourly chart of ETH/USD (data feed via SimpleFX). The bulls are likely to take a strong…

Bitcoin Turned ‘Sell’ After A Key Technical Rejection Above $7K

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Bitcoin was rejected above the $7,000 level and it declined heavily against the US Dollar. BTC price is currently trading in a bearish zone and it could continue to slide towards $6,400. Bitcoin is showing a lot of bearish signs below the $7,000 pivot level against the US Dollar. There was a key technical rejection near the $7,200 area and the 100 hourly SMA. There is a crucial bearish trend line forming with resistance near $7,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…