Day: November 2, 2020

AstraZeneca COVID-19 Trial Gets Push from Britain’s Health Regulators

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The British health regulators will monitor clinical data in real-time while having an active dialogue with the drugmaker to accelerate the approval process. AstraZeneca Plc (NASDAQ: AZN), one of the leading pharmaceutical companies in the COVID-19 vaccine trial received a major push from Britain’s health regulators. On Sunday, November 1, the regulators announced starting an accelerated review of AstraZeneca’s potential coronavirus vaccine. The latest announcement comes as the COVID-19 cases have spiked in the UK and other parts of Europe in the last few weeks. As reported by Reuters, the…

Ethereum Expected to Gain Further Strength as Price Taps $400

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Ethereum has finally begun to push higher as Bitcoin has consolidated in the high-$13,000s. The price of the leading altcoin recently hit $400, the highest price in a number of days despite BTC pushing to new year-to-date highs. Ethereum currently trades slightly below $400 having undergone a slight retracement after tapping that pivotal technical level. In the past 24 hours, ETH is up 3%, making it one of the best performing digital assets in the top 20 by market capitalization. Analysts think that the cryptocurrency could move even higher in…

3 reasons Bitcoin dropped 2% in just 1 hour

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The price of Bitcoin (BTC) declined by 2% in under an hour in a sharp correction on Nov. 2, catching traders off guard. Coincidentally, the CME Bitcoin futures market opened with a new gap, making $13,100 an area of interest for sellers. Three technicals reasons likely fueled the abrupt decline in the price of Bitcoin: CME gap, major resistance and monthly moving averages (MAs). There are now four CME Bitcoin futures gaps The CME Bitcoin futures market closes during the weekend and on holidays. This means that if BTC sees…

Google searches for Bitcoin are on the rise in Cuba

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Cuba is apparently seeing an influx of Bitcoin (BTC)-related activity as Bitcoin interest is on the rise in the country. According to data from Google Trends, Cuba now ranks second in terms of Bitcoin interest over the past 30 days. The island nation follows Nigeria, which has remained as the top country searching for Bitcoin on Google since April 2020. The rest of Google’s top five regions searching for Bitcoin comprise the African countries of South Africa, Cameroon and Ghana. Google search data for term “bitcoin”  Source: Google Cuba’s rise…

Ripple (XRP) Holds Strong, Bulls Could Aim Fresh Test of $0.25

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Ripple found support near $0.2320 and recovered higher above $0.2380 against the US Dollar. XRP price is consolidating gains and it could rally towards $0.2500. Ripple recovered nicely above the $0.2350 and $0.2380 resistance levels against the US dollar. The price is now trading above the $0.2400 resistance and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $0.2400 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to continue higher if it…

Ethereum Regains Strength And Its Primed To Rally Past $400

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Ethereum started a fresh recovery wave above $385 against the US Dollar. ETH price is showing positive signs and it could rally above $400 and $402 in the near term. Ethereum is trading in a positive zone above the key $392 and $395 support levels. The price even spiked above the $400 resistance and settled above the 100 hourly simple moving average. There is a key bullish trend line forming with support near $392 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue…

Why 100 SMA Is Crucial For Next Move

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Bitcoin price traded above the $14,000 resistance before correcting lower against the US Dollar. BTC is currently consolidating gains and it must stay above the 100 hourly SMA for a fresh increase. Bitcoin started a downside correction after forming a high near the $14,080 level. The price is trading above the $13,600 support and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $13,580 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above $13,550…

Possible Bitcoin Plunge as Elections Near Could Spark Massive Altcoin Rally

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Bitcoin’s price action heading into election season has been incredibly positive, with bulls taking full control of its trend as they attempt to push it above its 2019 highs of $13,800. Each break above this price level has resulted in it seeing strong selling pressure, which could indicate that it will continue struggling to gain momentum as it consolidates below this key level. The benchmark cryptocurrency’s strength heading into the presidential elections this week has been quite surprising, as it had created significant turbulence within the stock market that had…