Tag: Rally

Ethereum Price Consolidates Below $1,650 As The Bulls Aim Another Rally

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Ethereum climbed further higher above $1,620 against the US Dollar. ETH is consolidating gains and might aim another rally towards the $1,720 level. Ethereum is correcting gains from the $1,655 and $1,665 resistance levels. The price is now trading above $1,600 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $1,630 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rally again if it stays above the $1,600 support zone. Ethereum Price Eyes Another Increase…

This Bitcoin On-Chain Reading Confirms the Rally is Getting Started

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After 216 days, the Bitcoin Market Value to Realized Value (MVRV) ratio finally broke above 1, making this accumulation the second longest after it took BTC prices 300 days to bottom up after the bear run of 2014-2015. It also signals the likelihood of another refreshing BTC rally after gains of last week. Bitcoin’s MVRV Breaks Above 1 The breakout coincided with BTC prices surging to as high as $23,300 on Saturday, January 21, a positive development, especially for optimistic holders.  Bitcoin Price on January 22| Source: BTCUSDT on KuCoin Trading…

Bitcoin due new ‘big rally’ as RSI copies 2018 bear market recovery

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Bitcoin (BTC) is in for a new “big rally” as market strength copies conditions from after the 2018 bear market. According to the latest analysis, BTC/USD will continue to head higher “after some consolidation” thanks to key signals from its relative strength index (RSI). Bitcoin prints never-before-seen bullish divergence With the BTC price gains still coming, Bitcoin bulls are feeling increasingly confident despite widespread mistrust of the longevity of the current rally. For popular trader Crypto Wolf, a key phenomenon now underway sets Bitcoin’s latest recovery apart from all others.…

Bitcoin price rally provides much needed relief for BTC miners

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Bitcoin mining powers network transactions and BTC price. During the 2021 bull run, some mining operations raised funds against their Bitcoin ASICs and BTC reserves. Miners also preordered ASICs at a hefty premium and some raised funds by conducting IPOs.  As the crypto market turned bearish and liquidity seized within the sector, miners found themselves in a bad situation and those who were unable to meet their debt obligations were forced to sell the BTC reserves near the market bottom or declare bankruptcy Notable Bitcoin mining bankruptcies in 2022 came…

Data suggests Avalanche’s (AVAX) rally was a buy the rumor, sell the news event

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Avalanche (AVAX) came into the spotlight early at the beginning of 2023 by adding its blockchain support to Amazon Web Services (AWS) cloud. However, empirical and on-chain analysis suggests that Avalanche’s price surge is likely due to a broader cryptocurrency market pump which will likely end with the rest of the market. Is Avalanche’s Amazon news exaggerated? While integration with the world’s largest blockchain service is a positive step for Avalanche, the hype around its implications might be exaggerated. The evidence lies in a similar move that Avalanche’s team made…

Bitcoin Might Fall Below $20,000 Before Bull Rally Resumes, Analyst Says

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The last two weeks have been incredible for the price of bitcoin. The digital asset has been able to successfully make its way out of a depressing bear trend and reached two-month highs in the process. However, with the recent pullback, there may be a bit more pain for bitcoin investors before the upward rally continues. Analyst Justin Bennett Says Bitcoin Below $20,000 Is Possible In a new issue of his crypto trading newsletter, analyst Justin Bennett reveals some bearish tendencies of the market. He first points to the fact…

Ethereum Price Dips From $1,600 But ETH Could Start A Fresh Rally

Ethereum struggled to clear the $1,600 resistance and corrected lower against the US Dollar. ETH could remains supported and might rise from the $1,500 support. Ethereum is correcting gains from the $1,600 and $1,580 resistance levels. The price is now trading below $1,550 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $1,580 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise again if it stays above the $1,500 support zone. Ethereum Price Remains…

Ethereum price rally under question after ETH slams into resistance at $1.6K

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Ether (ETH) price is struggling to overcome resistance at $1,600 and this is the altcoin’s third attempt since September. Some would say the 33% year-to-date rally could be interpreted as a failed opportunity to breach the $200 billion market capitalization mark.  Ether/USD price index, 2-day. Source: TradingView If Ether’s price were to break above $1,600, it would return the No. 2 cryptocurrency to a top-60 global tradable asset, surpassing giant multinational companies like Nike (NKE), Novartis (NVS), Cisco (CSCO) and Toyota (TM). Unfortunately, at least for bullish traders, derivatives markets…

Bitcoin On Exchanges Drop By 44%, Could This Fuel More BTC Rally?

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The amount of bitcoin (BTC) being held on exchanges has been on a steady decline since the bear market began in 2022, but the rate at which investors were pulling their cryptocurrencies off exchanges has accelerated in the last couple of months. This has resulted in one of the sharpest drops in the percent of BTC supply left on centralized exchanges. Bitco In a new report by on-chain data aggregator Santiment, the bitcoin held on exchanges has witnessed one of the sharpest declines in history. In January 2022, the BTC…

Bitcoin Soars to $21,500 On “Hated Rally,” Will It Continue?

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The Bitcoin rally continues as the cryptocurrency smashes all resistance levels and seems ready to reclaim more ground. The number one crypto by market capitalization has seen a double-digit gain over the previous week leading the top performers in the sector. As of this writing, Bitcoin traded at $21,400 with sideways movement in the last 24 hours. The BTC price records a 23% rally in the previous seven days. Other cryptocurrencies in the top 10 record similar price action with Ethereum (19%) and Polygon (18%). The crypto has seen some…