Ripple (XRP) Tumbles 25%, Why 100-day SMA Holds The Key

Ripple started a major decline below the $0.4200 and $0.4000 support levels against the US Dollar. XRP price is gaining momentum, but approaching the key 100-day simple moving average and $0.3200. Ripple started a strong decline from well above $0.5000 against the US dollar after SEC’s threat. The price is now trading well below $0.4000, and approaching the 100-day simple moving average. There was a break below a major declining channel with support near $0.4000 on the daily chart of the XRP/USD pair (data source from Kraken). The pair is…

Bitcoin (BTC) Rests on the 100-Day MA on Trump’s Positive COVID19 Test

Quick take: It’s a second consecutive tense day for Bitcoin in the crypto markets as President Trump tests positive for COVID19 The news comes less than 24 hours after the CFTC and DoJ charged Bitmex and its founders of illegally operating a derivatives exchange and violating the Bank Secrecy Act Bitcoin is currently resting on the 100-day moving average as the crypto-verse digests the news Bitcoin (BTC) has been bombarded by the second day of shocking news with President Trump testing positive for the Coronavirus. President Trump made public his…

100-day SMA Could Ignite a Bullish Breakout for Bitcoin: Here’s Why

Bitcoin is trading in a contracting range above $9,000 against the US Dollar. BTC’s daily chart suggests that the price could rally above $9,300 as long as it is above the 100-day SMA. Bitcoin is holding a couple of important supports near $9,000 and $8,800. The price is currently facing strong barriers near $9,300 and $9,400. There is a crucial contracting triangle forming with resistance near $9,250 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair could start a sharp rally above $9,300 as long…

Bitcoin Dump Stalls At 100-day SMA: Here’s Why BTC Could Rally Again

Bitcoin is down more than 10% from the $10,090 high against the US Dollar. BTC found support near the 100-day simple moving average and it could start a fresh increase. Bitcoin climbed to a new monthly high at $10,097 before starting a downside correction. The recent pre-halving dump found support near the 100-day simple moving average. There is a major bullish trend line forming with support near $8,000 on the daily chart of the BTC/USD pair (data feed from Kraken). Ethereum and ripple are also down more than 10% and…

Bitcoin Rally At Risk of Screeching Halt at $8K as 100-Day SMA Approaches

Bitcoin is up more than 5% and it broke the key $7,500 resistance against the US Dollar. BTC is now approaching a major hurdle near $8,000 and the 100-day simple moving average. Bitcoin is gaining bullish momentum above $7,000 and $7,200 against the US Dollar. The price is likely to face a strong resistance near $8,000 and the 100-day simple moving average. There was a break above a crucial bearish trend line with resistance near $7,040 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair…

Bitcoin Is Still In Larger Downtrend Unless It Clears 100-Day SMA

Bitcoin is currently trading in a broad range above the $6,500 support against the US Dollar. BTC is facing a major resistance near $7,500 and the 100-day simple moving average. Bitcoin is still in a larger downtrend below the $7,500 resistance against the US Dollar. The price is currently consolidating above the $6,500 support area. There is a major bearish trend line forming with resistance near $7,580 on the daily chart of the BTC/USD pair (data feed from Kraken). The bulls are likely to face a strong resistance near $7,500…