Ethereum, Litecoin, Tron, Monero, Cardano Price Analysis: 13/09

After consolidating low in the charts for the past couple months, major altcoins were moving in a direction which could revive some of its early-year optimism. Bitcoin dominance was still above 70 percent at press time, as alts tried to make a comeback in the market. However, the surge may not prevail in the near […]
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Source: AMB Crypto

Bitcoin begins consolidation after a break from a bullish pattern

On a macro scale, Bitcoin has been consolidating for over 2 months; however, a much lower timeframe of 1 to 4 hour indicates that Bitcoin broke bullish after more than 3 days of descent. The price of Bitcoin tapped a higher $9,800 level and broke out of a falling wedge. The price rose by 5.41%, […]
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Source: AMB Crypto

Bitcoin Price (BTC) Remains In Steady Corrective Decrease

Bitcoin price is slowly declining and recently broke the $10,000 support area against the US Dollar.
The price is facing an uphill task and it might continue to struggle near $10,250 and $10,300.
There is a major bearish trend line forming with resistance near $10,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could continue to slide as long as it is trading below the $10,400 pivot level in the near term.

Bitcoin price is under pressure below $10,250 against the US Dollar. BTC may perhaps accelerate decline as long as there is no close above the $10,400 and $10,500 levels.
Bitcoin Price Analysis
In the last two analysis, we discussed the chances of more downsides in bitcoin price below $10,400 against the US Dollar. The price broke the $10,250 support area and the 100 hourly simple moving average. Moreover, the recent decline was such that the price broke the $10,100 support area. Finally, there was a downside spike below the $10,000 level and a new swing low was formed near the $9,938.
Recently, there was an upside correction above the $10,000 level. Moreover, the price broke the 23.6% Fib retracement level of the recent slide from the $10,528 high to $9,938 low. However, the upward move was capped by the $10,200 and $10,250 levels. There is also a major bearish trend line forming with resistance near $10,250 on the hourly chart of the BTC/USD pair.
Additionally, the 50% Fib retracement level of the recent slide from the $10,528 high to $9,938 low is acting as a resistance for the bulls. Above the trend line, the next key resistance is near the $10,350 level and the 100 hourly SMA. Having said that, a successful close above the $10,400 level plus the 61.8% Fib retracement level of the recent slide from the $10,528 high to $9,938 low is needed for more gains.
On the downside, the $10,000 level is an immediate support. However, the main support is near the $9,950 level. Below $9,950, there are chances of further losses in the near term. The next key support is near the $9,800 level.

Looking at the chart, bitcoin price is clearly under pressure and it could continue to slide below $10,000 in the coming sessions. If there is a bearish break below the $9,950 level, the price could head towards the $9,800 level. The main pivot level is near the $9,500 level.
Technical indicators:
Hourly MACD – The MACD is still moving in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is well below the 50 level.
Major Support Levels – $10,000 followed by $9,950.
Major Resistance Levels – $10,200, $10,250 and $10,350.
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Ethereum Price (ETH) Could Breakdown In Short Term, Bitcoin Down 3%

ETH price is struggling to continue to move higher above the $185 resistance against the US Dollar.
The price is likely to decline if bitcoin continues to struggle below the $10,250 level.
There is a connecting bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD (data feed via Kraken).
The price remains at a risk of more downsides as long as the price is below $185.

Ethereum price is struggling to gain strength above $185 versus the US Dollar since bitcoin is declining. ETH price could spike below the $180 support in the near term.
Ethereum Price Analysis
In the past two days, ETH price made two attempts to surpass the $185 resistance against the US Dollar. However, bitcoin price struggled to climb higher above the $10,350 and $10,400 resistance levels. As a result, Ether price also started showing a few bearish signs below the $185 resistance. On the positive side, the price is holding the main $178 and $180 support levels.
The last swing low was formed near the $177 level. The price is currently correcting higher above the $178 and $179 levels. Moreover, there was a break above the 50% Fib retracement level of the recent decline from the $185 swing high to $177 swing low. On the upside, the $182 level is currently protecting gains. Additionally, there is a connecting bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD.
The 61.8% Fib retracement level of the recent decline from the $185 swing high to $177 swing low is also acting as a resistance. If there is an upside break above $182, Ethereum price could revisit the $185 resistance level. To continue higher and start a decent rise, the price must break the $185 and $186 resistance levels.
On the upside, an initial support is near the $180 level and the 100 hourly simple moving average. The next key support is near the $178 level. If there is a downside break below the last swing low, the price could correct further lower towards the $170 support area in the near term.

Looking at the chart, Ethereum price seems to be currently consolidating in a range below the $182 and $185 resistance levels However, if bitcoin price continues to slide, there are chances of a sharp downward move move in ETH below the $175 support area in the coming sessions.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is likely to move back into the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently above the 50 level, with a minor bearish angle.
Major Support Level – $178
Major Resistance Level – $185
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Bitcoin Price (BTC) At Risk Of Downside Break Below $10,200

Bitcoin price is under pressure and it recently declined below the $10,500 support against the US Dollar.
The price is struggling to climb higher and is approaching the $10,200 support area.
There is a key bearish trend line forming with resistance near $10,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could accelerate decline if it breaks the $10,200 and $10,100 support levels in the near term.

Bitcoin price is showing a few negative signs below $10,500 against the US Dollar. BTC could struggle to recover above the $10,400 and $10,500 resistance levels.
Bitcoin Price Analysis
Recently, bitcoin price struggled to surpass the $11,000 resistance area against the US Dollar. As a result, there was a downside correction and BTC/USD traded below the $10,600 and $10,500 support levels. Moreover, there was a close below the $10,500 support level and the 100 hourly simple moving average. It opened the doors for more losses below the $10,400 level.
The price traded as low as $10,144 and recently started an upside correction. There was a break above the $10,300 level plus the 23.6% Fib retracement level of the last major decline from the $10,952 high to $10,144 low. Additionally, the price spiked above the $10,500 resistance. However, it failed to continue higher. It also struggled to clear the 50% Fib retracement level of the last major decline from the $10,952 high to $10,144 low.
More importantly, there is a key bearish trend line forming with resistance near $10,400 on the hourly chart of the BTC/USD pair. The pair is currently trading well below the $10,400 level. An immediate support area is near the $10,200 level. If there is a downside break below the $10,200 support area, there could be a bearish acceleration towards the $10,000 support area.
On the upside, the main resistances are near the $10,400 and $10,500 levels. If there is a successful close above $10,500, the price could continue to rise in the coming sessions. The next key resistance is near the $10,650 level. It coincides with the 61.8% Fib retracement level of the last major decline from the $10,952 high to $10,144 low.

Looking at the chart, bitcoin price is clearly struggling to continue higher and is trading with a bearish angle below the $10,400 level. If the price continues to decline and breaks the $10,200 support area, there is a risk of more losses below the $10,000 level.
Technical indicators:
Hourly MACD – The MACD is currently moving in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level.
Major Support Levels – $10,200 followed by $10,100.
Major Resistance Levels – $10,400, $10,550 and $10,650.
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Ethereum Price (ETH) Could Continue Higher While Bitcoin Struggles

ETH price climbed higher recently and settled above the $175 resistance area against the US Dollar.
The price is currently consolidating gains and it might continue to rise towards $185 or $190.
There is a key breakout pattern forming with support near $180 on the hourly chart of ETH/USD (data feed via Kraken).
The price could dip a few points towards $176 or $175 before it could start a fresh increase.

Ethereum price is showing positive signs above $175 versus the US Dollar, while bitcoin is struggling. ETH price remains supported on dips and it could rise further.
Ethereum Price Analysis
Recently, there was a solid rise in ETH price above the $175 resistance area against the US Dollar. However, bitcoin price struggled to gain momentum above the $10,500 resistance area. The recent rise in pushed Ethereum above the $180 level and the 100 hourly simple moving average. Moreover, the price traded close to the $185 level and recently started a short term downside correction.
It traded below the $180 level and the tested the 23.6% Fib retracement level of the upward move from the $165 low to $185 high. At the outset, there is a key breakout pattern forming with support near $180 on the hourly chart of ETH/USD. It seems like the price might decline a few points below the trend line support at $180. The next key support is near the $178 level and the 100 hourly SMA.
Additionally, the 50% Fib retracement level of the upward move from the $165 low to $185 high is near the $175 level to act as a support. If the price continues to slide, there are chances of a trend reversal towards the $170 support area. The 76.4% Fib retracement level of the upward move from the $165 low to $185 high is also near $170. Conversely, an immediate resistance on the upside is near the $182 level.
If there is an upside break above the $182 level, the price could attempt to surpass the $185 resistance area. Above $185, the price is likely to continue higher towards the $190 and $192 resistance levels.

Looking at the chart, Ethereum price is clearly trading with a positive bias above the $175 and $178 support levels. Only an hourly close below $175 might negate the current positive bias. On the upside, the price will most likely gain bullish momentum once it clears the $182 and $185 resistance levels.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently moving in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently declining and it struggling to hold the 50 level.
Major Support Level – $175
Major Resistance Level – $185
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Dash and Bitcoin should not be differentiated by regulators over Dash’s Privacy Coin status, says Ryan Taylor

Privacy Coins receive a lot of criticism from the community for their privacy-oriented transactions as such virtual assets were recently delisted from various exchanges due to regulatory concerns. Dash is also widely considered a privacy coin for their PrivateSend transaction and in a recent interview, Ryan Taylor, CEO of Dash Core Group expressed his opinion […]
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Source: AMB Crypto

Litecoin enters Death Cross as imminent bearish run threatens to wipe out 2019 gains

Litecoin is facing death by the cross. Litecoin’s 2019 has taken a sharp U-Turn. Hailed as one of the top gainers among large-cap cryptocurrencies in the market, the fifth largest coin is staring down at an imminent bearish run. The digital silver’s massive gains of 2019, which took it to a 320 percent price high […]
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Source: AMB Crypto

Bitcoin dumps 9% overnight, longs worth $140+ million face liquidation: Here’s how the market will cope

BitMEX traders might have had the worst when it comes to yesterday’s Bitcoin collapse. The price of Bitcoin fell from $10,200 to $9,500 in one fell swoop. However, just as the BitMEX traders thought the nightmare was over, it got worse as the price collapsed by another 4% and is now, finally consolidating as the […]
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Source: AMB Crypto

Bitcoin Bullish Bias Intact despite $950 Drop – Here’s Why

Bitcoin has dropped towards the $9,300 level for the first time in the last 30 days as investors continue to explore traditionally perceived safe-haven assets against global market risks.
The benchmark cryptocurrency plunged by $950 within a matter of a few hours. The move downhill coincided with the expiration of CME bitcoin futures contract, which typically sends the bitcoin prices lowers across the top spot exchanges. It also occurred at the time when bitcoin’s rival assets, including gold, traded near their record highs. Euro Pacific Capital CEO Peter Schiff used the opportunity to portray bitcoin as a bad hedging asset.

Bitcoin has again failed the safe haven test. On Friday, as escalating trade tensions sent global stock markets plunging, investors sought refuge in monetary safe havens. The Japanese yen, Swiss franc, and especially gold all moved higher. Yet Bitcoin plunged by more than stocks!
— Peter Schiff (@PeterSchiff) August 28, 2019

“Since last Thursday Bitcoin has lost more value than any of the major stock market indexes, while gold and silver have gone up,” he tweeted. “You can keep looking in the rearview mirror while ignoring what’s happening right in front of you.”
Galaxy Digital Founder Michael Novogratz believed otherwise. He told Bloomberg that bitcoin is bullish despite the short-term setbacks, recalling the cryptocurrency’s explosive upside price rally in 2019. Soon after establishing its bottom near the $3,100 level, bitcoin rebounded by more than 200 percent. It is still trading more than three times higher than its cycle low.
“It has had a huge run, and so I think this is a bit of consolidation.”
Corrections are Normal
Famous market analyst Josh Rager compared bitcoin’s latest downside action to a string of similar movements in the past. The cryptocurrency trader studied bitcoin’s 2017 bull run and found that the asset slipped many times on weekly timeframes. Nevertheless, its monthly bias remained bullish. As of now, the price appears to have been repeating the same behavior.
“Last uptrend Bitcoin has multiple months [with] at least three down weeks in a row,” said Rager. “Price is near weekly support, and on a weekly perspective, I want to see BTC close above $9,533 Sunday or it would form a lower-low.”
Bitcoin price is slipping consecutively from last three weeks | Image credits: Josh Rager
Fundamentally Bullish Bitcoin
All eyes are now on a string of bullish events that promise to at least support bitcoin from falling below crucial support levels. Bakkt, a digital asset platform backed by Intercontinental Exchange, announced on Wednesday that it would launch its bitcoin custodian services on September 6. The deployment would soon follow the introduction of Bakkt’s daily and monthly bitcoin futures contracts on September 21.
“Remember, the hype is bakkt with substance,” said Rhythm Trader, a cryptocurrency commentator on Twitter. “Unlike other futures exchanges, this is settled in bitcoin. Actual bitcoin is paid out, not just the fiat equivalent to the price of bitcoin. The result is better price discovery and liquidity for bitcoin and everyone in the space.”
Bitcoin is also set to cut its mining rewards by half by next May, an event many believe would make the cryptocurrency scarcer and – with growing demand – more expensive.
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Ethereum Price (ETH) Dives Below Crucial Support, Bitcoin Down 5%

ETH price failed to stay above the key $185 and $180 support levels against the US Dollar.
The price is down around 10% and is trading below $172, while bitcoin is down around 5%.
There was a break below a bearish continuation pattern with support near $172 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to continue lower and it may soon test the $165 or $162 support.

Ethereum price is down close to 10% versus the US Dollar, with strong bearish moves vs bitcoin. ETH price remains in a downtrend and it could decline further to $162.
Ethereum Price Analysis
In the past few days, we saw how ETH price struggled to clear the $192 and $195 resistance against the US Dollar. The price even settled below the $190 support and the 100 hourly simple moving average. As a result, there was a sharp decline below the $185 and $180 support levels. The price declined around 10% and even broke the $172 support area. Similarly, there were strong bearish moves in bitcoin, ripple, EOS, and binance coin.
A new monthly low was formed near $166 before Ethereum started an upside correction. It recovered above the $170 level plus the 23.6% Fib retracement level of the recent drop from the $188 swing high to $166 swing low. However, the upward move was capped by the $174-175 zone. Moreover, the price failed to test the 50% Fib retracement level of the recent drop from the $188 swing high to $166 swing low.
Recently, there was a break below a bearish continuation pattern with support near $172 on the hourly chart of ETH/USD. The pair is now trading near the $170 level and it seems like it could continue to move down. An immediate support is near the $166 and $165 levels. However, the main target for the bears could be near the $162 level in the near term.
On the upside, there are many hurdles near the $175 level. However, the main resistance is now near the $180 and $182 levels (the previous supports). Besides, the 61.8% Fib retracement level of the recent drop from the $188 swing high to $166 swing low is also near the $180 level.

Looking at the chart, Ethereum price is clearly facing a strong resistance near the $172 and $175 levels. Therefore, it might continue to move down below the $170 and $166 levels.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly reducing its recent bearish slope.
Hourly RSI – The RSI for ETH/USD is still in the extreme oversold area, with bearish signs.
Major Support Level – $165
Major Resistance Level – $175
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Ethereum to tackle falling wedge pattern; potential breach could re-introduce bulls

Ethereum’s valuation thrived during the early May bull run and the coin’s valuation breached the $200 dollar mark. ETH consolidated comfortably in the higher range of $230-$280 before breaching the $300 dollar mark on 21st June. The valuation took a beating after bullish momentum receded and the coin was restricted under $230 after a massive […]
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Source: AMB Crypto

XRP’s rising tide likely to face hurdle with formation of descending triangle

The year 2019 has been rough for XRP solely because of its price. As the new year set in, XRP’s price consolidated mainly between the price range $0.2604 and $0.3834. After numerous tries, the third-largest coin broke out from the consolidating price range but eventually had to return after 56 days. Since then, the price […]
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Source: AMB Crypto

Ethereum’s falling price may find respite as coin consolidates within symmetrical triangle

It has been another gloomy week for Ethereum, in terms of its price. Ethereum was valued above $200 dollars, at the beginning of the week (19th August) but at press time the price was under $190. The coin’s valuation plummeted by 5.48 percent over the past seven days and trade volume over the time period […]
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Source: AMB Crypto

Hybrid stablecoins such as Facebook’s Libra could lose benefits offered by centralized, decentralized assets

One of the main drawbacks associated with the cryptocurrency market is its highly volatile price activity. The volatility was and still is, considered a major hindrance when it comes to the mass adoption of virtual assets. The introduction of stablecoins was meant to tackle this associated crypto-volatility. However, not all stablecoins operate the same way […]
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Source: AMB Crypto