Crypto Market May be Poised for Bullish Breakout

Twitter Facebook LinkedIn Bitcoin on Tuesday confirmed another bull flag formation after reversing from its downside correction action. The BTC/USD pair has almost negated the losses made during yesterday’s trading session, bringing the 24-hour gains to 0.46 percent. The pair found a strong intraday support level at 6372-fiat, just ahead of testing the lower trendline of the parallel channel introduced in the previous analysis. It reversed from the said level to retest its interim resistance at 6421-fiat. The BTC/USD pair is now trading at 6427-fiat on a comparatively high volume…

Ethereum Classic Price Analysis: ETC/USD Following Bullish Path Above $9.50

Key Highlights Ethereum classic price climbed higher steadily and tested the $10.00 resistance against the US dollar. The last week’s followed crucial ascending channel formed is intact with support at $9.60 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is placed nicely in a bullish path above the $9.50 and $9.60 support levels. Ethereum classic price is gaining momentum against the US Dollar and Bitcoin. ETC/USD could continue to grind higher above $10.00 in the near term. Ethereum Classic Price Analysis This past week,…

Price Stable, XMR is Bullish above $100

36 hours after hard forking and Monero buyers are yet to confirm Oct 15 gains. If anything, there seems to be resistance for upsides and this is negative for bulls. Anyhow, we suggest aggressive buyers to load at spot prices with stops at $190 while risk-averse traders should be on the side lines until there are gains above $150. Such gains will most likely trigger a torrent of buyers aiming at $300 and higher. Latest Monero News Talk of privacy coins won’t leave Monero out and for good reasons. While…

Ripple Price Analysis: XRP/USD Bullish Above $0.4250

Key Highlights Ripple price surged higher and broke the key $0.4200 and $0.4300 resistance levels against the US dollar. There is a short-term channel formed with support at $0.4290 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to break the $0.4500 resistance to climb once again towards the $0.4700 level. Ripple price is placed in a bullish zone against the US Dollar and Bitcoin. XRP/USD may continue to accelerate gains above $0.4400 and $0.4500 in the near term. Ripple Price Analysis Yesterday,…

Bitcoin (BTC) Price Watch: Is That a Bullish Breakout Yet?

Bitcoin Price Key Highlights Bitcoin price appears to be closing above the top of its symmetrical triangle pattern to show that bulls are gaining the upper hand. If so, this could lead to a rally that’s roughly the same height as the formation, which spans $6,000 to $10,000. Technical indicators are giving mixed signals, although there seem to be signs of slowing bearish pressure. Bitcoin could be breaking above the top of its symmetrical triangle to signal that a longer-term climb is underway. Technical Indicators Signals The 100 SMA is…

Institutions More Bullish on Bitcoin than Retail Investors: Fundstrat

There’s a general perception that retail investors are susceptible to rosy-eyed forecasts about the future of bitcoin, while institutions are more clear-headed about the prospects of this nascent asset class. However, a new survey conducted by Wall Street strategy firm Fundstrat suggests that once institutional investors are interested in bitcoin, they become even more bullish than their retail counterparts. Institutions Believe Bitcoin Price Has Bottomed Fundstrat, the first Wall Street strategy firm to embrace bitcoin, conducted a six-question Twitter poll to gauge the sentiment among retail cryptocurrency investors and then…

Ripple Price Analysis: XRP/USD Bullish Above $0.5520

Key Highlights Ripple price is holding the $0.5500 and $0.5520 support levels against the US dollar. There is a major breakout pattern formed with resistance at $0.5820 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must hold the $0.5500 and $0.5520 support levels to climb higher in the near term. Ripple price is positioned for more gains against the US Dollar and Bitcoin. XRP/USD may continue to slowly rise towards the $0.5800 and $0.5900 resistances. Ripple Price Analysis There was a minor downside correction…

Bitcoin Price Watch: BTC Holds Bullish Bias Above $6,550

Key Points Bitcoin price is consolidating above the $6,590 and $6,550 support levels against the US Dollar. There is a short-term declining channel in place with resistance at $6,720 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair has to surpass the $6,720 and $6,750 levels to move towards $6,850 and $6,900. Bitcoin price settled above the $6,550 level against the US Dollar. BTC/USD must break the $6,720 resistance for an upward move toward $6,900 in the near term. Bitcoin Price Analysis After trading above…

Bitcoin Price Weekly Analysis: BTC/USD Turned Short-term Bullish

Key Points Bitcoin price traded higher and cleared the $6,580-6,600 resistance zone against the US Dollar. There is a key bullish trend line in place with support at $6,550 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting lower, but it could find support near the $6,600 and $6,550 levels. Bitcoin price climbed above the key $6,600 resistance against the US Dollar. BTC/USD needs to clear the $6,850 level to gain upside momentum in the near term. Bitcoin Price Analysis This past…

$6,700: Bitcoin Price Charts Bullish Reversal as Altcoins Surge

Bitcoin (BTC) has taken a bullish turn over the last 24 hours, as sharp gains are also seen across a number of alternative cryptocurrencies (altcoins). As of writing, the leading cryptocurrency is trading at $6,700 on Bitfinex – up 4.6 percent on a 24-hour basis – having hit a 16-day high of $6,745 earlier today. BTC’s recovery from the five-week low of $6,100 hit Wednesday was likely fueled by increased investor demand for altcoins. For instance, XRP – the third largest cryptocurrency by market capitalization – has risen by 42…