Bitcoin (BTC) Price Signaling Additional Losses Below $3,900

Bitcoin price failed to surpass the $4,000 resistance level and declined against the US Dollar.
The price declined sharply and broke the key $3,940 support area to enter a bearish zone.
Yesterday’s highlighted major bearish trend line is intact with resistance at $3,950 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair traded towards the $3,850 support and it is currently higher towards key resistances.

Bitcoin price declined below important supports near $3,940 against the US Dollar. BTC might correct in the short term, but sellers are likely to protect gains above $3,940.
Bitcoin Price Analysis
After multiple failures near the $4,000 resistance, bitcoin price started a sharp decline against the US Dollar. The BTC/USD pair formed a swing high near $3,980 and later declined below the key $3,940 support area. Sellers gained control and the price even broke the $3,900 support level. The price traded to a new weekly low at $3,855 and settled well below the 100 hourly simple moving average. Later, the price started an upside correction above the $3,900 level.
The price cleared the 23.6% Fib retracement level of the recent decline from the $3,978 high to $3,855 low. However, the price is currently facing resistance near $3,920. It represents the 50% Fib retracement level of the recent decline from the $3,978 high to $3,855 low. In the short term, the price might correct above the $3,920 level. Having said that, there is a strong resistance near the $3,940 and $3,950 levels.
Besides, yesterday’s highlighted major bearish trend line is intact with resistance at $3,950 on the hourly chart of the BTC/USD pair. The 61.8% Fib retracement level of the recent decline from the $3,978 high to $3,855 low might also prevent gains near $3,930. Therefore, if the price corrects higher, it is likely to face a strong resistance near $3,940 and $3,950. A proper close above the $3,950 resistance plus the 100 hourly SMA is must for a decent rebound towards $4,000.

Looking at the chart, bitcoin price clearly moved into a bearish zone below the $3,940 support level. On the downside, an immediate support is at $3,880, below which the price is likely to revisit the $3,850 support. If there are more losses below $3,850, the next stop for sellers could be $3,800. On the upside, the main resistance is at $3,950, above which there are chances of a fresh increase.
Technical indicators:
Hourly MACD – The MACD moved back in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD recovered recently, but it is still well below the 50 level.
Major Support Levels – $3,880 followed by $3,850.
Major Resistance Levels – $3,930, $3,940 and $3,950.
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Crypto Market Back In Red: Litecoin (LTC), BCH, TRX, ADA Price Analysis

The total crypto market cap failed to move above the $134.0B resistance and declined heavily.
Litecoin (LTC) price moved down and broke the $62 and $60 support levels.
Bitcoin cash price is down more than 4% and it recently broke the $160 support level.
Tron (TRX) price declined recently, but it is still above the key $0.0220 support.
Cardano (ADA) price is currently consolidating above the $0.0600 support level.

The crypto market cap declined heavily, with strong bearish moves in bitcoin (BTC) and Ethereum (ETH). Ripple, litecoin (LTC), bitcoin cash, TRX, XLM and ADA are likely to struggle in the short term.
Bitcoin Cash Price Analysis
Bitcoin cash price failed to clear the $165 resistance recently and declined against the US Dollar. The BCH/USD pair started a downside move and broke the $162 and $160 support levels. The price is down more than 4% and it seems like it could accelerate losses towards the $158 or $155 support levels.
On the upside, an initial resistance is near the $162 level. If there is an upside break above $162, the price is likely to revisit the key $165 resistance area in the near term.
Litecoin (LTC), Tron (TRX) and Cardano (ADA) Price Analysis
Litecoin price performed really well this past week and traded above the $60 and $62 resistance levels. However, the price struggled to remain in a positive zone and it recently declined below the $60 support. LTC price may continue to move down and it could retest the $55 support level.
Tron price struggled to clear the $0.0230 resistance level and it recently declined. TRX price is down around 2%, but it is still trading above the $0.0222 and $0.0220 support levels. On the upside, the main hurdle is near $0.0230 and $0.0232.
Cardano price climbed higher in the past few days above the $0.0550 and $0.0580 resistance levels. ADA price even broke the $0.0600 resistance and it is currently consolidating gains. The next move could either be towards $0.0550 or $0.0650 in the near term.

Looking at the total cryptocurrency market cap hourly chart, there was a slow and steady decline from the $134.0B resistance level. Later, the market cap declined below the $132.1B support, opening the doors for more losses. It declined below $130.0B and tested the $129.0B level. It is currently correcting higher, but upsides are likely to remain capped near the $131.5B and $132.0B levels. There is also a crucial bearish trend line in place with current resistance at $132.1B on the same chart. Therefore, upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, XMR, XLM and other altcoins are likely to face a lot of hurdles in the near term.
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Ripple Price Analysis: XRP Bears Target $0.2800 Post Downside Break

Ripple price remained in a bearish zone and declined below the key $0.3060 support against the US dollar.
Bears remain in action as they managed to push the price below the $0.3000 support.
Yesterday’s highlighted important bearish trend line is intact with resistance at $0.3035 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is currently correcting higher, but bears remain in control below $0.3040 and $0.3060.

Ripple price declined heavily and broke many supports against the US Dollar and bitcoin. XRP/USD is currently in a strong downtrend and it could continue to move down towards $0.2920 or $0.2800.
Ripple Price Analysis
In the past few hours, there was a strong decline in ripple price from the $0.3100 resistance against the US Dollar. The XRP/USD pair failed to hold the $0.3080 and $0.3060 support levels and entered a bearish zone. There was a sharp decline below the $0.3040 support and the price settled well below the 100 hourly SMA. Sellers gained control and pushed the price below the $0.3000 support as well.
A new weekly low was formed at $0.2980 and the price is currently correcting higher. The price moved above the $0.3000 support level. Moreover, it cleared the 23.6% Fib retracement level of the recent decline from the $0.3065 high to $0.2980 low. However, there are many hurdles for buyers near the $0.3040 level. An initial resistance is $0.3025 and the 50% Fib retracement level of the recent decline from the $0.3065 high to $0.2980 low. More importantly, yesterday’s highlighted important bearish trend line is intact with resistance at $0.3035 on the hourly chart of the XRP/USD pair.
If there is an upside break above the $0.3035 level, the price could trade towards the key $0.3060 resistance. The 100 hourly simple moving average is also positioned near the $0.3070 level to act as a barrier for buyers. Therefore, if the price corrects higher, it is likely to face a strong selling interest near the $0.3035 or $0.3060 level.

Looking at the chart, ripple price is under a lot of selling pressure and it is in a strong downtrend below $0.3080. On the downside, if the price declines below the recent low of $0.2980, there could be a sharp drop towards $0.2920 or $0.2880. Besides, if sellers remain in action, there are chances of a test of the $0.2800 support level. On the upside, only a close above $0.3060 and the 100 hourly SMA might decrease selling pressure.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 40 level, but below 50.
Major Support Levels – $0.3000, $0.2980 and $0.2920.
Major Resistance Levels – $0.3035, $0.3060 and $0.3070.
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Ethereum Price Analysis: Selling ETH Close To $135 A Good Deal

ETH price failed to climb above the $137 resistance and declined later against the US Dollar.
The price declined heavily and broke the $134 and $132 support levels.
Yesterday’s highlighted key bearish trend line is active with resistance at $135 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently correcting higher, but it is likely to face sellers near $134 and $135.

Ethereum price declined sharply below key supports against the US Dollar and bitcoin. ETH might correct higher, but it is likely to struggle near the $135 resistance area in the near term.
Ethereum Price Analysis
Yesterday, we discussed the importance of the $136-137 resistance and the 100 hourly simple moving average against the US Dollar. The ETH/USD pair made an attempt to climb above the $136 resistance, but it failed to gain momentum. As a result, there was a sharp bearish reaction below the $135 support level. The decline was such that the price even broke the $134 and $132 support levels. It traded to a new weekly low near $130 and later started an upside correction.
Buyers pushed the price above the $132 level and the 23.6% Fib retracement level of the recent decline from the $136 high to $130 low. However, there are many hurdles on the upside near the $134 and $135 levels. The first hurdle is near $134 and the 61.8% Fib retracement level of the recent decline from the $136 high to $130 low. The stated $134 level was a support earlier, and now it may act as a resistance. Besides, yesterday’s highlighted key bearish trend line is active with resistance at $135 on the hourly chart of ETH/USD.
Lastly, the 100 hourly SMA is also near the $135 level and the trend line. Therefore, if the price continues to rise it is likely to face sellers near the $134 or $135 resistance. On the downside, an initial support is at $132, below which the price may revisit the $130 swing low. Any further losses could lead the price towards the $125 support.

Looking at the chart, ETH price is facing a lot of hurdles near $134 and $135. Therefore, buying near the stated resistance and 100 SMA might not be a good idea. Clearly, sellers remain in action near $135 and there are chances of a fresh dip towards $132 or $130 in the coming sessions.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD moved into the bullish zone, with a positive bias.
Hourly RSI – The RSI for ETH/USD recovered nicely above 40, but it is still well below the 50 level.
Major Support Level – $130
Major Resistance Level – $135
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Litecoin [LTC] Price Analysis: Token’s future remains bearish despite bullish activity in the short-term

The fourth largest coin on CoinMarketCap, Litecoin [LTC], breached the $60 mark, despite minor slip ups in the bull run.
At press time, the coin held a market cap of $3.69 billion and was priced at $60.45. The digital silver registered a 24-hour trading volume of $2.01 billion. LTC exhibited a minor loss of 0.41% against the US dollar over the past 24 hours. Additionally, it fell by 1.30% over the past seven days.
Coineal contributed the highest trading volume for the coin, accounting for 7.67% of the total trading volume via the LTC/BTC pair. It was followed by Coinall with 7.45%, and DigiFinex with 5.38%, respectively.
1-hour
Source: TradingView
Litecoin’s one-hour chart exhibited a long uptrend from $55.91 to $57.77. A downtrend from $61.40 to $59.28, along with two minor downtrends between $59.59 – $58.47 and $60.44 – $59.44 were registered on the chart. The support for the coin was found at $55.47, while the resistance was at $65.
Bollinger Bands: The mouth of the bands depicted growing volatility in LTC’s price movement.
Awesome Oscillator: The closing bars of the indicator were green, indicating bullish price momentum for Litecoin.
Chaikin Money Flow: The CMF was above the zero-line, indicating money flow into the LTC coin market and hence, a bullish market.
1-day
Source: TradingView
On LTC’s one-day chart, an uptrend from $32.83 to $45.68, and a longer downtrend from $55.82 to $33.96 were seen. The immediate resistance for the digital asset was marked at $63.06, while support points were found at $30.55 and at $22.91.
Parabolic SAR: The dotted markers were below the candlesticks, predicting bullish movement for the coin.
Klinger Oscillator: The reading line was below the signal line and pictured a bearish trend for Litecoin.
MACD: The MACD line was also below the signal line, reiterating the bearish projection.
Conclusion
The short-term indicators for Litecoin [LTC] projected a bullish market and potential price breakouts. The long-term indicators however, projected a strong bearish phase for the silver coin.
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Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Prices side with bulls in short-term, long-term still in turmoil

Bitcoin [BTC] briefly broke the $4,000 sentiment level yesterday. However, it dipped back and was trading at $3,966 at press time. The market cap of Bitcoin was hovering around $70 billion, with a 24-hour trading volume of $9.19 billion.
Most of the trading volume of Bitcoin usually comes from BitMEX exchange via the trade of Bitcoin perpetual contracts against the US Dollar. However, the trading volume of BTC contributed by BitMEX has reduced in recent weeks as it contributed only $469 million, which is 4% of the total Bitcoin trade volume.
FCoin exchange is the top contributor as it contributed $644 million in terms of trading volume via the trading pair ETH/BTC, which is 5.50% of the total trading volume.
1-hour
Source: TradingView
Bitcoin, on the one-hour chart, showed an uptrend that extended from $3,689 to $3,957, while the downtrend extended from $4,163 to $4,039. The prices were testing the immediate support at $3,953. Subsequent supports were seen at $3,848 and $3,696.
The Parabolic SAR markers spawned below the price candles and indicated that the price trend reversed and was headed upwards, whixh was a bullish signal.
The MACD indicator showed a bullish crossover below the zero-line. The MACD histogram on the one-hour chart showed green bars developing in tandem with the crossover.
The Relative Strength Index hit the 60-line and started its descent and was at the 50-line at press time, indicating an equal momentum between the sellers and the buyers.
1-day
Source: TradingView
The one-day chart of Bitcoin showed no signs of an uptrend, however, the downtrend extended from $9,800 to $4,056. The price of BTC bounced off the support at $3,189 on December 15, 2018. The immediate resistance was at $4,056, and subsequent resistance points were at $7,641, and $9,800.
The Aroon indicator showed the Aroon up line and Aroon down line collapsing. This indicated a consolidation movement that BTC was undergoing at press time.
The Stochastic RSI hit the oversold zone and showed a collapsing trend, which passed below the 50-line. This presented a bearish movement for Bitcoin in the longer timeframe.
The Chaikin Money Flow showed a rising trend, which meant that the money flowing into the Bitcoin market was high.
Conclusion
The one-hour chart showed a bullish trend for Bitcoin, which was confirmed by the Parabolic SAR, MACD, and RSI indicators. Unlike the one-hour chart, the one-day chart showed a consolidation phase for Bitcoin as indicated by Aroon, Stochastic RS, and CMF indicators.
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Source: AMB Crypto

Bitcoin Blockchain Costs Approx. $7 Million a Day to Stay Secure

It takes an average of $7 million every day to secure the Bitcoin blockchain network, according to Messari.
The cryptocurrency data portal published a new screener this Monday which outlined the revenues paid to miners for top proof-of-work coins. The Screener based its figures on new issuance and transaction fees, eventually finding that Bitcoin produced the maximum output among all the PoW assets, issuing $7.392 million worth of bitcoin tokens every 24 hours and distributing over $115,000 in mining fees.
Source: Messari
In contrast, Ethereum’s daily issuance rate was almost six times lesser at $1.85 million than that of Bitcoin. At the same time, it’s trading fees was nearly half at $58.23k than what Bitcoin network paid to miners. [Note: Ethereum is switching to proof of stake this year.]
Overall, both the Bitcoin and Ethereum networks were spending 0.1-percent of their current market capitalization.
Staying Secure
The issuance rate signified the daily amount miners were receiving to keep the concerned PoW network secure. Only Bitcoin and Ethereum networks were the ones that spent multi-millions to guard its operations against potential 51% attacks. At the same time, Litecoin was spending approximately $936 million, ZCash $400 million, and Bitcoin Cash $280 million for the same purpose.

BTC costs $7 million / day to secure.
ETH is less than $2 million.
Nothing else is in the seven figures.
New screener from @MessariCrypto is
https://t.co/Qht5CSiG5f
— Ryan Selkis (@twobitidiot) March 25, 2019

Ideally, a hacker would need to outgrow a network’s combined issuance costs to overtake it. But before that even happens, he would need to set up resources such as land, electricity and mining machines. In the worst case scenario, hackers would likely pool their existing resources to take a PoW network down, or to modify data on its blockchain. Nonetheless, the move would end up harming the issued asset’s dollar valuation itself – based on low trust.
So, even if a hacker manages to pool all the resources and outbid bitcoin’s daily security rate of $7 million, his costs of launching an attack would be more than what he would earn in return.
A Bank’s POV
The banking and financial services sector has been the primary victim of cybercriminals over the past decade. The biggest US banks respond to such a security epidemic with big budgets. For instance, JP Morgan & Chase allocated around $500 million to cybersecurity in 2016. Crain reported that Citibank’s IT security budget touched $300 million. Yahoo Finance found that Wells Fargo was spending as much as $250 million every year to safeguard its online portals. If one adds it up, these three banks alone spent $1.5 billion to improve their cybersecurity. That makes it approximately $4.1 million every day.
And not to add, there are banks beyond the ones mentioned above. Their daily spendings on cybersecurity would easily surpass that of bitcoin.

Nevertheless, these banks are sizeable and cater for billions of people across the world. Whether or not Bitcoin’s blockchain would be able to handle such a size while retaining its security costs is a thing to watch out for.
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Bitcoin [BTC] market resolute against manipulation, claims Bitwise report; dismisses SEC’s concerns

The purists in the traditional financial market realm have always believed that Bitcoin [BTC] can be controlled via a powerful computer network. A recent Bitwise report has, however, calmed allegations that the Bitcoin market is prone to market manipulation.
The report filed by Bitwise Asset Management was presented before the US Securities and Exchange Commission [SEC], in line with their recent application for a Bitcoin Exchange Traded Fund [ETF].
Market manipulation within the crypto-market has always been of concern to the SEC. The regulatory body in subsection 5 of Section 6(b) of the Exchange Act states that exchanges “are designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade.” The SEC often cited this subsection while referring to the volatile industry as being prone to frauds and scams.
Bitwise gave two arguments to satisfy the SEC Exchange Act of 1934, namely, unique resistance against manipulation/fraud, and a surveillance sharing agreement with a regulated market of a certain size. The investment firm, based on historical cases, added that the regulated surveillance-sharing reason was of “primary consideration”.
The report claimed,
“That the bitcoin market is protective against manipulation, and critically, that there is a significant, regulated and surveilled market for bitcoin futures.”
Bitcoin: The Commodity
In their defense of the top cryptocurrency’s lack of susceptibility to market manipulation, Bitwise claimed that “Bitcoin is the first digital commodity in the history of the world.” Here, it should be noted that the report hails Bitcoin as a “commodity,” and not as an “asset”.
Bitwise drew three core divergences in the character of Bitcoin to other commodities. Firstly, Bitcoin is fungible, meaning that the cryptocurrency was constant, irrespective of location, unlike natural commodities like gold.
Secondly, Bitcoin can be easily transported via a computer network. Lastly, Bitcoin can be traded on an exchange, allowing users to directly view the price and employ trading strategies for the same. Furthermore, there is an absence of representatives, advisers, and consultants in the decentralized currency realm as anyone is free to trade.
It must be noted that all the exchange volume analysis is based on the figures of 10 exchanges as they record “actual volume,” according to Bitwise.  The exchanges on the list are Binance, Bitfinex, Kraken, Bitstamp, Coinbase, BitFlyer, Gemini, itBit, Bittrex, and Poloniex.
The report added,
“These unique features allow the bitcoin market to be uniquely resistant to manipulation in critical ways.”
Bitcoin: Anywhere, Anytime
Bitwise juxtaposed the ability of the top cryptocurrency to resist market manipulation to scandals that have plagued other markets over the past few years. The report highlighted four key incidents, including the LIBOR scandal of 2012, the Global Forex Scandal of 2013, the Gold Fix Scandal of 2014, and the ASIC Scandal of 2016.
In all the aforementioned scandals, the common elements were a deliberate attempt at manipulating the market by large financial institutions, resulting in heavy fines levied on the culprits.
The traits of fungibility and transportability in the virtual currency market allowed the creation of arbitrage in the market. The opportunities for investors to make a quick buck due to price disparity between exchanges was reported by Bitwise as being negligible.
Given this dominance of market participants, global liquidity can stand in the way of market manipulation, increasing the inability of the market to fall prey to any sort of voluntary change.
Bitcoin: The Distributed Market
Bitcoin’s spread of volume and “distributed market” will prevent one exchange from holding the coin’s price hostage. Of the ten exchanges considered, no one exchange had pure dominance in terms of BTC volume. Binance accounted for the highest volume, chalking up 40.47 percent, and was followed by Bitfinex and Kraken with 13.94 percent and 11.67 percent respectively.
The report concluded by saying,
“The spot bitcoin market is highly fractured amongst ten exchanges, and no exchange has a majority share. This contributes to bitcoin’s unique resistance to market manipulation, as any attempt to manipulate the market must either be coordinated synchronously across multiple exchanges or must involve a significant spike of volume on a single exchange.”
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Source: AMB Crypto

Ethereum [ETH/USD] Price Analysis: Cryptocurrency finds greener pastures

Ethereum [ETH], the second largest cryptocurrency by market cap, was indecisive about whether it wanted to ride with the bulls, or whether it wanted to go down the path of the beat market.
According to CoinMarketCap, Ethereum was trading at $137.28 with a market cap of $14.46 billion, at press time. The trading volume of the cryptocurrency was recorded to be $4.12 billion, while its price witnessed a fall of around 2% over the past seven days.
1-hour
Ethereum one-hour price chart | Source: Trading View
The one-hour chart for the cryptocurrency recorded three significant downtrends, from $142.52 to $138.83, from $138.76 to $137.49, and from $137.43 to $135.61. The uptrend for the coin was drawn from $132.77 to $134.68.
The immediate resistance for the cryptocurrency was at $137.51 and the strong resistance was at $140.21. The coin’s immediate support was placed at $134.67 and strong support was at $132.75.
Parabolic SAR pictured a bull market for the coin as the dotted lines were perfectly aligned below the candlesticks.
Klinger Oscillator sided with the Parabolic SAR as the reading line moved above the signal line after a crossover.
RSI showed that the buying pressure for the cryptocurrency was the same as the selling pressure.
1-day
Ethereum one-day price chart | Source: Trading View
On the one-day chart, the coin had two prominent downtrends, from $218.66 to $157.55 and further from $157.55 to $138.72. The uptrends for the cryptocurrency were from $82.92 to $103.22 and from $103.22 to $134.47.
The immediate resistance for the cryptocurrency was at $140.53 and strong resistance was at $157.75. The immediate support for the coin was at $125.17, while strong support was found at $82.78.
MACD was seen drawing the coin towards the bear’s side as the moving average line shifted below the signal line after a crossover.
Chaikin Money Flow showed that money was flowing into the market, a bullish sign for the coin market.
Bollinger Bands forecast a non-volatile market as the bands were closing in on each other.
Conclusion
At press time, major indicators such as the CMF from the one-day chart and Parabolic SAR and Klinger Oscillator from the one-hour chart, projected a bull market for the coin.
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Source: AMB Crypto

Bitcoin Cash [BCH] Price Analysis: Bulls sustain momentum as bears go into hiding

The Bitcoin Cash [BCH] rise persisted through the close of the previous week, with market correction forces failing to drag the coin below the $160 mark. After breaking multiple resistance levels, BCH was expecting to close the month on a high.
At press time, the coin had gained against the US dollar by 1.04 percent. The coin was trading at $165.42, with a market cap of $2.94 billion.
P2PB2B took the top spot in terms of global BCH volume, accounting for 8.51 percent via the trading pair BCH/BTC. Other prominent exchanges on the list were ZBG, HitBTC, and Huobi Global.
1-hour
Source: TradingView
The one-hour chart pictured a massive uptrend, which pushed the coin’s value from $152.22 to $168.12. Following this rise, the coin dropped to the aforementioned high of $164.16.
Bitcoin Cash found immediate support at $160.51, while the coin’s immediate resistance level stood at $168.36.
The Bollinger Bands showed declining volatility, while the Moving Average line indicated a bullish market.
The Chaikin Money Flow tool pointed to an increase in money inflow into BCH tokens, as the CMF line was above 0.
The Awesome Oscillator showed an insignificant increase in short term momentum, indicating that any bullish activity will be mild.
1-day
Source: Trading View
Despite the overwhelming bearish trend of the one-day chart, the coin’s recent green candlesticks showed positive signs. The February downtrend shaved the coin’s price from $152.66 to $129.83. Following the same, the coin’s price shot up from $128.15 to $158.37, and then to $166.22.
Bitcoin Cash found immediate resistance at $165.75, which the coin was close to breaking. The long-term support stood at $121.78.
The Parabolic SAR indicated a bullish market as the dotted lines were below the coin’s trend line.
The MACD showed bullish tendencies as the signal line surged above the MACD line.
The Relative Strength Index showed an increase in investor interest as the RSI had shot up from 61.30 to a high of 68.36, before falling to 67.21 at press time.
Conclusion
Bitcoin Cash resisted the bears and their market correction forces. In the short term, volatility was low as the coin gained against the US Dollar. In the long term, the coin’s overarching bearish trend was subdued as investor interest rose while the indicators suggested a bullish market for the coin.
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Source: AMB Crypto

Bitcoin (BTC) Price Won’t Go Quietly, Risk of Break Grows

Bitcoin price is currently consolidating above the $3,940 support area against the US Dollar.
The price is likely to grind higher above $4,000 as long as it is above the $3,940 support.
There is a key bearish trend line is forming with resistance at $3,980 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could accelerate gains once there is a close above $4,000 and the 100 hourly SMA.

Bitcoin price seems to be preparing for the next break against the US Dollar. BTC is likely to climb above the $4,000 barrier unless buyers fail to defend the $3,960 and $3,940 support levels.
Bitcoin Price Analysis
Recently, bitcoin price rebounded nicely after trading as low as $3,872 against the US Dollar. The BTC/USD pair gained traction and traded above the $3,940 and $3,960 resistance levels. However, the $4,000 level acted as a strong resistance and prevented further gains. A swing high was formed near $3,999 and later the price corrected lower. There was a dip below the $3,980 level and the 23.6% Fib retracement level of the last wave from the $3,872 low to $3,999 high.
However, the key $3,940 support area acted as a strong barrier for sellers. The price found support just above $3,940 and the 50% Fib retracement level of the last wave from the $3,872 low to $3,999 high. It is currently moving higher and trading near the $3,980 resistance. There is also a key bearish trend line formed with resistance at $3,980 on the hourly chart of the BTC/USD pair. Above the trend line, the 100 hourly SMA is positioned near the $3,985 level.
Therefore, a break above the trend line, the 100 hourly SMA, and $4,000 is must for buyers to gain control. Above $4,000, the next key resistance is near the $4,020 level, above which the price is likely to test the $4,045 resistance. On the downside, an initial support is at $3,960. However, the main support is near $3,940, which may continue to hold losses.

Looking at the chart, bitcoin price is clearly consolidating above the $3,940 support level. As long as the price is above $3,940, there are chances of more gains above $3,980 and $4,000. To gain bullish momentum, a clear break above the $4,020 pivot level is required. On the downside, a close below the $3,940 support might accelerate losses towards the $3,900 and $3,875 levels.
Technical indicators:
Hourly MACD – The MACD is currently in slowly moving in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 50 level, with positive signs.
Major Support Levels – $3,960 followed by $3,940.
Major Resistance Levels – $3,980, $4,000 and $4,020.
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Crypto Market Testing Key Hurdle: BNB Rallies 12%, Bitcoin Cash, EOS, TRX Analysis

The total crypto market cap seems to be facing a couple of important resistance levels.
EOS price is slowly moving higher from the $3.62 support area, with a positive angle.
Binance Coin (BNB) surged more than 10% and broke the $16.50 resistance.
Bitcoin cash price is currently consolidating above the $165 support level.
Tron (TRX) price retreated from highs and declined more than 4%.

The crypto market is slowly moving lower, while bitcoin (BTC) and Ethereum (ETH) are facing many hurdles. Binance coin (BNB) rallied recently, whereas BCH, ripple, EOS, TRX and ADA are currently consolidating.
Bitcoin Cash Price Analysis
Bitcoin cash price declined recently below the $170 and $165 support levels against the US Dollar. The BCH/USD pair tested the $160 support level and later bounced back. The pair moved above the $165 resistance and it is currently consolidating gains.
On the upside, an initial resistance is near the $168 level, followed by $170. Once there is a break above the $170 level, the price could climb to a new monthly high in the near term.
EOS, Tron (TRX) and BNB Price Analysis
EOS price declined recently and traded below the $3.65 support level. The price tested the $3.60 support level and it is currently correcting higher. Buyers pushed the price above the $3.65 level, with a positive angle. However, there are many hurdles on the upside near the $3.70 and $3.72 levels.
Tron price traded above the $0.0230 level recently and later failed to hold gains. TRX price is down more than 4% and it is currently trading below $0.0230. An immediate support is at $0.0225, below which the price could decline towards the $0.0220 level.
Binance coin (BNB) performed really well recently and climbed above the $16.00 and $16.50 resistance levels. BNB price is up more than 12% and it recently spiked above the $17.00 level. The next key resistances are near $17.40 and $17.50. If there is a downside correction, the previous resistances near the $16.50 and $16.20 levels are likely to act as decent supports.

Looking at the total cryptocurrency market cap hourly chart, there was a crucial bearish reaction near the $136.0B resistance level. There was a slow and steady decline below the $134.0B and $133.0B levels. The market cap is currently following a major bearish trend line with current resistance at $133.5B on the same chart. A proper close above the trend line and $134.0B is needed for buyers to gain traction in the near term. If not, there is a risk of more losses in bitcoin, ETH, tron, litecoin, EOS, ripple, cardano, XLM, ICX, BCH, XMR and other altcoins in the near term.
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Binance Coin [BNB] surges by 15% following Launchpad roll-out announcement

Binance coin [BNB], the seventh largest crypto asset on CoinMarketCap, pumped by over 15% and posted significant gains while slowly emerging from the crypto winter.
At press time, BNB held a market cap of $2.45 billion. The coin’s price was clocked at $17.35. The crypto asset registered a 24-hour trading volume accounting for $326.90 million. Further, Binance’s native token exhibited a growth rate of 9.71% over the past seven days.
Source: TradingView
The coin continued to show bullish movement despite hitting minor lows. BNB token gained traction after the cryptocurrency exchange revealed a new structure for the token launch on its native Launchpad. According to the latest announcement, the token launch will be conducted as a lottery, as opposed to the previous system of first-come-first-served.
Source: Twitter
Binance’s official blog released the table below. It presents the new structure that would allows users holding more BNB tokens with greater access to the lottery tickets.
Source: Twitter
The latest token launch drew considerable flak from BNB token holders, with some calling the format unfair and accusing the trading platform of catering only to BNB whales. Addressing these criticisms, Binance’s CEO and Founder, CZ tweeted,
“Will address some of the questions/concerns/feedback in this thread. Our new Launchpad model is not set in stone. It’s the result of multiple detailed discussions over the weekend, while considering all angles. We will consider suggestions and will make certain tweaks.”
The post Binance Coin [BNB] surges by 15% following Launchpad roll-out announcement appeared first on AMBCrypto.
Source: AMB Crypto

Ripple Price Analysis: XRP Facing Uphill Task With Sellers In Control

Ripple price recovered recently, but it failed to break the $0.3120 resistance against the US dollar.
The price is slowly declining and it is currently trading well below the $0.3100 level.
There is a crucial bearish trend line formed with resistance at $0.3065 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair might continue to slide and it could revisit the $0.3020 support level in the near term.

Ripple price is currently under pressure against the US Dollar and bitcoin. XRP/USD is facing a strong resistance near $0.3070 and it may extend its decline towards $0.3020.
Ripple Price Analysis
After testing the $0.3000 support, ripple price started a short term rebound against the US Dollar. The XRP/USD pair traded above the $0.3050 and $0.3080 resistance levels. The price even traded above the $0.3100 level, but it faced a strong resistance near the $0.3120 level. Besides, the price even failed to test the $0.3120 level and the 100 hourly simple moving average. A high was formed at $0.3113 and later the price started a downside move.
It traded below the $0.3080 and $0.3060 support levels. A low was formed at $0.3031 and the price is currently correcting higher. It is trading above the 23.6% Fib retracement level of the last decline from the $0.3113 high to $0.3031 low. However, the previous support near the $0.3060 level is acting as a resistance. There is also a crucial bearish trend line formed with resistance at $0.3065 on the hourly chart of the XRP/USD pair.
Above the trend line, the next resistance is near the $0.3080 level. It coincides with the 61.8% Fib retracement level of the last decline from the $0.3113 high to $0.3031 low. However, the main resistance is near the $0.3100 level and the 100 hourly SMA. Therefore, even if the price breaks the $0.3065 resistance, it is likely to struggle near $0.3080 or $0.3100. On the downside, an immediate support is near the $0.3030 level, below which the price may revisit the $0.3020 support level.

Looking at the chart, ripple price is clearly trading near important resistances near $0.3060 and $0.3070. There may be a short term upside break, but the price remains in a bearish zone as long as it is below $0.3100. On the downside, if there is a break below the $0.3020 support, there could be heavy losses towards $0.3000 or $0.2920.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slightly placed in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just above the 40 level.
Major Support Levels – $0.3030, $0.3020 and $0.3000.
Major Resistance Levels – $0.3065, $0.3080 and $0.3100.
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Ethereum Price Analysis: ETH Could Jump If It Closes Above 100 SMA

ETH price is forming a decent support near the $134 level against the US Dollar.
The price is currently moving higher and testing the key $136 resistance and the 100 hourly SMA.
There is a major bearish trend line formed with resistance at $136 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a solid upward move once it settled above $136 and the 100 hourly SMA.

Ethereum price is currently approaching key hurdles against the US Dollar and bitcoin. ETH is likely to climb higher sharply once it breaks the $136 and $138 resistance levels.
Ethereum Price Analysis
Recently, there was a slow decrease in ETH price after it failed to clear the $138 resistance against the US Dollar. The ETH/USD pair formed a couple of lower highs and declined below the $136 support level. There was even a close below the $136 support and the 100 hourly simple moving average. The price traded close to the $134 support, where buyers emerged and protected further losses. Later, the price corrected higher above $135 and the 23.6% Fib retracement level of the recent decline from the $138 high to $134 low.
However, the previous support near the $136 level is now acting as a resistance. Besides, there is a major bearish trend line formed with resistance at $136 on the hourly chart of ETH/USD. The pair is also facing hurdles near the 100 hourly simple moving average, currently near $136. Finally, the 50% Fib retracement level of the recent decline from the $138 high to $134 low is also near $136. Therefore, the $136 level and the 100 hourly SMA are crucial hurdles.
To start a solid upward move, the price must break the $136 and $137 resistance levels. The next key resistance is at $138, above which the price is likely to move into a bullish zone. On the downside, the $134 support could play a major role. If there is a fresh decline and the price breaks $134, there might be a sharp sell-off.

Looking at the chart, ETH price is clearly trading near a significant resistance area at $136. Therefore, the price will either break the $136 resistance and climb higher or decline once again. A bearish break below the $134 support may perhaps push the price in a negative zone in the near term.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving into the bullish zone, with positive signs.
Hourly RSI – The RSI for ETH/USD recently moved above the 50 level and it could continue higher towards the 65 level.
Major Support Level – $134
Major Resistance Level – $136
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