Month: May 2024

Can Cardano (ADA) Bounce Back? A Closer Look at Its Recovery Potential

Cardano (ADA) corrected gains and tested the $0.4520 support zone. ADA must stay above the $0.450 support to start a fresh upward move. ADA price is struggling to gain bullish momentum above the $0.4750 zone. The price is trading below $0.460 and the 100-hourly simple moving average. There was a break above a connecting bearish trend line with resistance at $0.4570 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could gain bullish momentum if there is a close above $0.4620. Cardano Price Tests Support…

Will It Sink or Swim at Key Support Levels?

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XRP price is moving lower below $0.5350 support zone. It is now testing key support at $0.5220 and remains at risk of more downsides. XRP is struggling to gain bullish momentum above the $0.5350 resistance zone. The price is now trading below $0.530 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $0.5265 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase unless the bears push the price below $0.5220. XRP Price…

Is Mt. Gox A Worry For Bitcoin? Crypto Analyst Weighs In

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Bitcoin outflows from the Mt. Gox exchange have occurred in the past day, making some worry about potential bearish effects. Here’s what an analyst thinks. Mt. Gox Has Made Several Bitcoin Transactions In The Last 24 Hours During the past day, several movements from wallets associated with the bankrupt cryptocurrency exchange Mt. Gox have been spotted on the Bitcoin blockchain. The platform had announced plans to repay its creditors, so the transactions are likely related to them. Mt. Gox has moved out 137,890 BTC in total, worth almost $9.4 billion…

Is Solana Preparing For Liftoff Or Meltdown? Analysts Weigh In

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After the recent market pump, Solana (SOL) recovered an important support zone. As a result, analysts have debated whether the altcoin is poised for a liftoff to a new all-time high (ATH) or about to face a meltdown. Related Reading Analysts Fear SOL’s Top Is In After recovering the $160 support zone over a week ago, Solana reached heights not seen since the beginning of April. SOL neared the $190 resistance level but failed to surpass it. Instead, the token’s price hovered between the $180 and $170 mark before returning…

Ripio CEO: Brazilian Companies Are Paying Chinese Suppliers With Cryptocurrency

Sebastian Serrano, CEO of Ripio, one of the largest exchanges in Latam, stated that Brazilian companies were already harnessing cryptocurrency to pay their Chinese suppliers. In an interview, Serrano asserted that Latam countries harnessed crypto in different ways and that Argentine companies are using cryptocurrency to protect from crippling inflation numbers. Ripio CEO Sebastian Serrano: […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Can Ethereum Price Maintain This Support and Spark a New Increase?

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Ethereum price started a downside correction below the $3,880 support. ETH is now testing the $3,760 support and might aim for a fresh increase. Ethereum started another downside correction below the $3,880 zone. The price is trading above $3,750 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,880 on the hourly chart of ETH/USD (data feed via Kraken). The pair could restart its increase unless there is a move below the $3,760 support. Ethereum Price Dips To Support Ethereum price failed…

XRP Price Moves To Break Out Of 7-Year Accumulation, Analyst Highlights Possible 1,200% Rally

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The XRP price has been in a 7-year accumulation zone now and its failure to break out of this zone has been a constant worry for investors. However, it seems that the days of worry will soon be forgotten as one crypto analyst believes that the XRP price is about to break out of this accumulation zone. XRP Price To Break Out And Complete 1,200% Rally In an analysis posted on TradingView, crypto analyst Babenski has renewed XRP investors’ hope in the coin, predicting that it is about to break…

Bitcoin Price Struggles to Reclaim $70K: Will the Bulls Prevail?

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Bitcoin price struggled to stay above $70,000 and corrected gains. BTC is now trading below $69,000 and showing a few bearish signs. Bitcoin extended its downside correction below the $69,000 zone. The price is trading below $69,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $67,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase unless there is a move below the $67,500 support. Bitcoin Price Revisits Support Bitcoin price started…

Target Price Of $90,000 For Bitcoin By Year’s End, According To Bernstein

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Bitcoin (BTC), the largest cryptocurrency in the market, has experienced price volatility amid its struggle to consolidate above the crucial $70,000 resistance line. Recent reports of the collapsed Mt.Gox exchange processing payouts to its creditors have added to the cautious sentiment.  However, wealth management firm Bernstein remains bullish, predicting significant growth in the Bitcoin ETF market and projecting higher price targets for BTC.  In addition, The Birb Nest’s technical analysis reinforces market optimism, highlighting key support levels and indicating positive sentiment.  Long-Term Bullish Outlook For Bitcoin Despite its recent inability…