Tag: Support

Ethereum eyes $3.5K as ETH price reclaims pandemic-era support with 40% rebound

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Ethereum’s native token Ether (ETH) looks poised to hit $3,500 in the coming sessions as it reclaimed a historically strong support level on Feb. 5. Ethereum price back above key trendline ETH price rising above its 50-week exponential moving average (50-week EMA; the red wave in the chart below) means the price also inched above $3,000, a psychological support level that may serve as the ground for Ether’s next leg up. ETH/USD weekly price chart. Source: TradingView The 50-week EMA was instrumental in maintaining Ether’s bullish bias across 2020 and…

Top Crypto Exchange Coinbase Rolls Out Full Retail Support for Three Low-Cap Altcoins

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Top US crypto exchange Coinbase is launching full retail support for a trio of low-cap altcoins. Aventus (AVT), Render Token (RNDR) and Quantstamp (QSP) are now live on Coinbase.com and the exchange’s mobile apps, according to a new tweet from the company. Coinbase Pro listed the three assets earlier this week. Quantstamp is a security-auditing protocol for smart contracts, offering a bug bounty system and automated software testing. The project’s native token, QSP is trading at $0.07 at time of writing and is up nearly 88% in the past week.…

Bitcoin Capped Below $40K Resistance; Support at $35K

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Bitcoin (BTC) buyers and sellers are at a stalemate, evidenced by low trading volume and muted price action over the past few days. The cryptocurrency is trading in a tight range between $35,000 support and $38,000-$40,000 resistance. Most technical indicators are neutral, which means BTC could remain in a narrow price range going into the Asia trading day. At press time the bitcoin price was $36,506, down 3% over the past 24 hours, based on CoinDesk pricing. Buyers have consistently lost ground to sellers given the persistent downtrend since November.…

Bitcoin Turns Lower From Bearish Trendline; Support at $35.5K

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Bitcoin failed to penetrate critical technical resistance earlier this week and is now staring at a support level of $35,500. Prices dropped 4.6% on Wednesday after buyers failed to push through the trendline connecting highs reached in November and January. The top cryptocurrency was changing hands near $36,400 at press time, representing a 1.3% drop on the day. The reversal lower from the bearish trendline in the wake of below-50 or bearish readings on the daily and the 4-hour chart relative strength index indicate an end of the corrective bounce…

Ethereum Below This Support Could Spark Another Sharp Decline

Ethereum failed to clear $2,800 and corrected gains against the US Dollar. ETH price must stay above the $2,600 support to avoid more downsides. Ethereum started a downside correction after it failed to surpass the $2,800 resistance. The price is now trading near $2,650 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $2,645 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a major decline if there is a move below $2,645 and $2,600. Ethereum…

Bitcoin Slides Below $38K, Support Is Above $35K

Bitcoin (BTC) failed to sustain a bounce above $38,000 Wednesday, although short-term buyers could remain active above the $35,000 support level. Momentum is starting to fade on intraday charts, which means the pullback could continue into the trading day in Asia. BTC was trading at about $37,400 at press time and is down 3% over the past 24 hours. The relative strength index (RSI) on the daily chart approached overbought territory on Tuesday, which preceded the current pullback . Additionally, the 100-period moving average on the four-hour chart, currently at…

Bitcoin Rangebound Near Support; Resistance at $40K-$43K

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Bitcoin (BTC) is holding support above $37,000, albeit within a narrow trading range. The cryptocurrency is roughly flat over the past 24 hours, changing hands at press time around $38,500, up 3% over the past week. Buyers will need to make a decisive move above the $40,000 resistance level in order to pause the intermediate-term downtrend from November. For now, the relative strength index (RSI) on the four-hour chart is approaching overbought territory, which typically precedes a brief pullback in price. Additionally, the downward sloping 100-period moving average on the…

SOL Price Shoots Over 15% as Coinbase Adds Support for Two Solana-based Crypto Tokens

Coinbase announced support for two major SOL coins – FIDA and ORCA. this is for the first time that Coinbase is supporting non-Ethereum coins. In a high relief for Solana investors, SOL has reversed the downfall gaining 16% in the last 24 hours. As of press time, SOL is trading 16.96% up at a price of $106 with a market cap of $33.4 billion. The latest price surge in Solana  (SOL) comes partly because of the broader market recovery and partly due to the Coinbase announcement. On Monday, January 31,…

Bitcoin Holding Support Above $37K; Resistance at $40K-$45K

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Bitcoin (BTC) is rising toward the top of a week-long trading range as oversold signals remain intact. The cryptocurrency was trading around $38,400 at press time and is up 4% over the past week. Initial resistance is seen at $40,000, which is an old support level that was rejected on Jan. 20. Buyers will need to make a decisive move above $40,000-$45,000 in order to shift the downtrend since November. For now, BTC’s 20% price decline in January could attract short-term buyers. Traders could place additional bids into the Asia…