Tag: Key

XRP price rally stalls near key level that last time triggered a 65% crash

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XRP‘s ongoing upside retracement risks exhaustion as its price tests a resistance level with a history of triggering a 65% price crash. XRP price rebounds 30%  XRP’s price gained nearly 30%, rising to $0.36 on June 24, four days after rebounding from $0.28, its lowest level since January 2021. The token’s retracement rally could extend to $0.41 next, according to its “cup-and-handle” pattern shown in the chart below. XRP/USD four-hour price chart featuring “cup and handle” pattern. Source: TradingView Interestingly, the indicator’s profit target is the same as XRP’s 50-day exponential…

Ethereum Key Indicators Suggest Strengthening Case For More Upsides

Ethereum is slowly moving higher above the $1,120 zone against the US Dollar. ETH could rally if there is a clear move above the $1,165 resistance level. Ethereum is facing resistance near the $1,165 and $1,190 levels. The price is now trading above $1,120 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,085 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a clear move above the $1,165…

Ethereum Could Rally If The Bulls Clear This Key Resistance

Ethereum started an upside correction from the $880 zone against the US Dollar. ETH is rising and attempting an upside break above the $1,150 resistance zone. Ethereum started an upside correction above the $1,000 resistance zone. The price is now trading above $1,000 and the 100 hourly simple moving average. There is a short-term contracting triangle forming with resistance near $1,150 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady increase if it clears the main $1,150 resistance zone. Ethereum Price Faces Key…

Bitcoin Consolidates Near Key Juncture, Can The Bulls Make It

Bitcoin is struggling near the $21,000 resistance zone against the US Dollar. BTC could rally if it clears the $20,900 and $21,000 resistance levels. Bitcoin is showing a few positive signs above the $20,000 support. The price is now still above the $20,000 level and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $20,275 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh decline if it stays below the key $21,000 resistance…

Bitcoin Recovery Stalls Near Key Juncture, Key Resistance Intact

Bitcoin started an upside correction from the $17,600 zone against the US Dollar. BTC is now facing a strong resistance near $20,500 and $21,000. Bitcoin was able to recover losses from the $17,600 support zone. The price is now still below the $20,000 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $19,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a risk of a fresh decline unless it settles…

Ethereum price risks a drop below $1K if these key price metrics turn bearish

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Ether (ETH) price is down 37.5% in the last seven days and recent news reported that developers decided to postpone the network’s migration to a proof-of-stake (PoS) consensus. This upgrade is expected to end the dependency on proof-of-work (PoW) mining and the Merge scalability solution that has been pursued for the past six years. Competing smart contracts like BNB, Cardano (ADA) and Solana (SOL) outperformed Ether by 13% to 17% since June 8 even though there was a market-wide correction in the cryptocurrency sector. This suggests that the Ethereum network’s…

Is The Bitcoin Halving The Key For A BTC Price Bottom?

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Bitcoin is still holding above $20,000 despite a massive increase in selling pressure over the past few days. The cryptocurrency has experienced some of the worst capitulation events in its history and could be read for a fresh leg-down. Related Reading | Bitcoin Exchange Reserve Spikes Up, Selloff Not Over Yet? At the time of writing, BTC’s price trades at $20,700 with a 7% and 31% loss in the last 24 hours and 7-days respectively. Market participants seem to be expecting new highs, but a resume in bullish momentum could catch…

‘Too early’ to say Bitcoin price has reclaimed key bear market support — Analysis

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Bitcoin (BTC) crept higher after the June 14 Wall Street open as analysts hoped that long-term support had been preserved. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hopes for “relief” from FOMC meeting Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded above $22,500 at the time of writing, having hit local highs of $23,300 on the day. The pair had seen a strong bounce after nearing $20,800, with traditional markets likewise recovering after panic set in over United States inflation. Eyeing where Bitcoin could go next, on-chain…

Bitcoin analysts are watching these BTC price levels as key trendline looms

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Bitcoin (BTC) is trading at its lowest since mid-December 2020 on June 13, but the bottom could be anywhere. As the weekend sell-off intensifies, BTC/USD has now broken below its realized price for the first time since March 2020, data from Cointelegraph Markets Pro and TradingView confirms. Bitcoin clings to realized price At around $23,400, realized price — the average price at which each BTC last moved — is acting as the first solid support so far on lower timeframes. Bitcoin realized price vs. BTC/USD chart. Source: Glassnode Previous levels, including…

Centralized vs. decentralized digital networks: Key differences

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A decentralized digital network is not controlled by a central authority. Instead, control is distributed among its users. There is no single server or point of command. Rather, the network is run on a peer-to-peer basis, with each user wielding equal power and responsibility. A great example of a decentralized network is the internet, itself, which is not controlled by one authority. Rather, it is distributed among its users. However, some argue that the internet is moving toward centralization due to the monopoly of big names within the space—Google, Facebook,…