Day: October 13, 2020

ETH Shares Rise 13% after Ethan Allen Reports Profitable Quarter

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Ethan Allen Interiors (ETH) shares rose by 0.90% on Monday and surged further by 13.44% reaching the $17.73 level. Furniture maker Ethan Allen Interiors Inc (NYSE: ETH) saw its shares close higher on Monday following the release of the preliminary financial results from the retailer. According to the company’s release on Monday, the company said that its retail sales saw a 10.8% year on year growth. ETH shares which have been plunged down by about 18% this year due to the COVID-19 are now resurging as Farooq Kathwari, Ethan Allen’s…

Charted: Cardano (ADA) Daily Chart Indicates A Significant Bullish Wave

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Cardano’s price surged above the main $0.1000 resistance level and started a strong increase. ADA is likely to continue higher towards $0.1250 in the coming days. ADA is showing positive signs and it is now trading well above $0.1000 against the US dollar. The price cleared the $0.1120 resistance and trading above the 100-day simple moving average. There was a break above a significant bearish trend line with resistance near $0.0965 on the daily chart of the ADA/USD pair (data source from Bitfinex). The pair is likely to continue higher…

TA: Ethereum is Gaining Momentum, But $400 Presents A Significant Challenge

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Ethereum surged above the $370 resistance against the US Dollar. ETH price tested the $395 resistance and it is currently correcting lower towards the $380 support zone. Ethereum gained bullish momentum above the $370, $375 and $380 resistance levels. The price tested the $395 resistance and it settled nicely above the 100 hourly simple moving average. There is a key connecting bullish trend line forming with support near $372 on the hourly chart of ETH/USD (data feed via Kraken). The pair is correcting lower, but the bulls are likely to…

TA: Bitcoin Just Saw Key Technical Correction, But 100 SMA Is Still Strong

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Bitcoin price extended its rise above the $11,500 resistance against the US Dollar. BTC is correcting lower from $11,700, but it is likely to find support near the 100 hourly SMA. Bitcoin broke the key $11,500 resistance level and traded to a new weekly high at $11,724. The price is currently correcting lower below $11,500, but it is above the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $11,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Bank of England Governor Still Isn’t a Fan of Bitcoin

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While central banks are embracing digital currencies, they still aren’t a fan of Bitcoin and other cryptocurrencies. The Bank of England’s recently-instated governor made that view clear just recently when he asserted that the leading cryptocurrency isn’t valuable in his eyes. The governor, Andrew Bailey, has been touting this opinion for many years. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Andrew Bailey Isn’t a Fan of Bitcoin According to Reuters, Bailey said on Monday that he still doesn’t believe that Bitcoin has any intrinsic value.…

Bitcoin decouples from legacy markets as ‘breathtaking’ rally predicted

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A report published by major U.S.-based crypto exchange Kraken has identified signs the correlation between Bitcoin (BTC), the greenback, and legacy markets, is continuin to weaken. Kraken’s September volatility report found Bitcoin (BTC) largely maintaining a negative correlation with the U.S. Dollar Index (DXY) since May, despite a brief coalescence between the two markets in early September. Bitcoin’s 30-day rolling correlation with U.S Dollar Index: Kraken The report attributes BTC’s dollar decoupling to the U.S. Federal Reserve’s plan to maintain zero percent interest rates until at least 2023, in addition…

Crypto Trader Offers Roadmap To Chainlink Buckling Against Bitcoin

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Few coins in the crypto world have performed anywhere near as well as Chainlink – Bitcoin included. After nearly three steady years of overperformance against the most dominant cryptocurrency, LINKBTC could have also topped alongside the USD pair. One top crypto trader with a track record of successful calls has shared a new chart outlining the path Chainlink could take before ultimately buckling against Bitcoin. Crypto Trader Expects Chainlink To Collapse Against Bitcoin, Following Descending Triangle Pattern What goes up must come down, as the saying goes. Chainlink’s historic run…

This Trader Doesn’t See Why Bitcoin Can’t Hit $12,000 Soon

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After starting last week rather weak, Bitcoin began to push higher into Friday and into the weekend, ending up pushing as high as $11,500. For context, the lows of last week came in closer to $10,400, far below the local highs. While Bitcoin’s upward momentum stalled on Sunday and Monday morning, analysts are still certain that the coin’s short-term trend is bullish. One top investor in the space recently said that there’s a good likelihood Bitcoin trades at $12,000 this week. What may stop a Bitcoin rally, though, is news…

Hathor Merge Mining Pool Commands 33% of the Bitcoin Cash Hashrate

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Bitcoin Cash proponents have been recently discussing a new mining entity with a large amount of hashrate joined the network. The merge mining operation called HathorMM currently captures 33% of the Bitcoin Cash hashrate and the miners are also mining Bitcoinsv as well. The Bitcoin Cash (BCH) network currently has 2.77 exahash (EH/s) of SHA256 hashrate pointed at the chain and a new mining entity has joined the ranks. On October 11, a few members of the BCH community discussed the mining operation dubbed HathorMM and disclosed the project is…