Price Analysis Jan 13: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, TRX

Though several cryptocurrencies are stuck in a range, the trend is gradually turning positive. Bitcoin has seen an uptick in volumes in the new year. A report by cryptocurrency market research firm Arcane Research shows that 7-day average daily trading volume has surged 126% in a week. Along with Bitcoin trading volume, the CME Bitcoin futures contract has also seen increased activity. The Bitcoin futures open interest has skyrocketed to a seven month high, which is only behind the peak seen at the end of June.  A pick up in…

Price Analysis Jan 10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, TRX

The bounce off the first support levels on most major cryptocurrencies indicates a possible change in trend. Safe haven assets were dumped on Jan. 8, on reports that the US-Iran conflict might not escalate to an all out war. Cryptocurrencies, which had surged alongside gold and oil with also retreated from two-month high. However, the positive sign is that most major cryptocurrencies have held their immediate support levels, which indicates buying on dips. This shows that the sentiment has changed from sell on rallies to buy on dips. With the…

Price Analysis Jan 8: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, ADA

Profit booking seen at higher levels. However, if the major cryptocurrencies can bounce off their strong support levels, it will indicate strength. The crypto markets continue to respond to the events happening in the United States-Iran conflict. Any sign of escalating tensions is boosting the crypto markets higher. Google Trends shows that the searches for terms “Bitcoin” and “Bitcoin Iran” have surged in the past few days. This shows that investors are considering Bitcoin as a safe haven asset, similar to gold. A report released by analytics firm SFOX showed…

Bitcoin Bitwala Advances DeFi Initiative and now Supports Ether (ETH)

Bitwala, Europe’s leading payment service provider and bitcoin (BTC) bank headquartered in Berlin, has announced that it’s now supporting ether (ETH), the second-largest distributed ledger technology (DLT) based virtual currency by market cap. With the move, Bitwala customers will now be able to buy and sell ether (ETH) right from their current accounts, according to a Decrypt report on January 7, 2020. Support for Ether (ETH) As part of larger efforts to support the growth of the decentralized financial (DeFi) ecosystem, Bitwala, Europe’s pioneer bitcoin bank is now supporting ether…

Price Analysis Jan 06: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XMR

Several altcoins have made their first move from longtime lows and if Bitcoin is able to confirm a bottom, a marketwide rally is likely to pick up steam. The price of an asset class is determined by its fundamentals and the sentiment towards it. At times of panic or exuberance, fundamentals take a back seat and sentiment dictates the price action. Currently, the US-Iran tension has sent investors scurrying towards safety. This has seen a move away from stocks and into assets that are considered safe havens. However, it is…

Ethereum Smashes Resistance, Reasons Why ETH Could Rally 10%

Ethereum gaining bullish momentum above key hurdles versus the US Dollar, similar to bitcoin. ETH price is likely to accelerate higher towards $145 and $150 in the near term. Ether price is rising steadily and trading above the $135 resistance against the US Dollar. BTC is also showing a lot of positive signs above the $7,400 resistance area. There is a key bullish trend line forming with support near $134 on the hourly chart of ETH/USD (data feed via Kraken). ETH remains well bid above $130 and it seems to…

Upbit’s Stolen Ethereum Is Moving, and Its Bad News for ETH

In November, Upbit, a popular Korean crypto asset exchange, lost $50 million worth of Ethereum (ETH) from the exchange hot wallet in a seeming hack. Details on the attack remain sparse — some think it was an inside job as the word “hack” was not mentioned and due to the timing of the loss of funds — though Upbit promised to reimburse all users affected with corporate funds. Related Reading: This Scary Fractal Suggests Bitcoin Price Is On Its Way to $3,000 Despite this, the stolen ETH is still out…

Upbit’s Stolen Ethereum Is Moving, and It’s Bad News for ETH

In November, Upbit, a popular Korean crypto asset exchange, lost $50 million worth of Ethereum (ETH) from the exchange hot wallet in a seeming hack. Details on the attack remain sparse — some think it was an inside job as the word “hack” was not mentioned and due to the timing of the loss of funds — though Upbit promised to reimburse all users affected with corporate funds. Related Reading: This Scary Fractal Suggests Bitcoin Price Is On Its Way to $3,000 Despite this, the stolen ETH is still out…

Price Analysis Jan 03: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XTZ, XLM

Bitcoin is en-route to flipping the $7.4K resistance to support and the sharp rebound from key support levels on most major cryptocurrencies is a positive sign. Bitcoin started the new year on a weak note and looked to be losing ground. However, the news of the killing of Iran’s General Qasem Soleimani, in an airstrike ordered by the US President Donald Trump, caused a reversal in Bitcoin’s price. This shows that the market participants have again turned to cryptocurrencies in times of uncertainty and escalating geopolitical tensions. In other news,…

Ripple (XRP) Turned Sell On Rallies, BTC & ETH Dragging Market Lower

Ripple is down more than 2% and it broke the $0.1880 support against the US dollar. XRP price is now trading near the $0.1840 support area and it could correct higher. There is a key bearish trend line forming with resistance near $0.1920 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is also down 2% and it might continue to decline towards the $120 support. Ripple price is gaining bearish momentum below $0.1920 against the US Dollar, similar to bitcoin. XRP might slide further if…