Analytics

Ethereum (ETH) Could Make Or Break The Altcoin Rally

Ethereum (ETH) is about to make or break the altcoin rally. The above chart for ETH/USD tells the whole story and leaves little room for interpretation. The price is currently resting atop the 21 Day EMA. Below that is the 38.2% Fibonacci retracement level. Above the price is the 61.8% retracement level. Having become range bound these past few days, Ethereum (ETH) now has a support at the 21 Day EMA and the 38.2% Fibonacci level. However, it also faces a strong resistance at the 61.8% Fibonacci retracement level. Additionally, there is the trend line support that Ethereum (ETH) might test short term if it falls to the 38.2% Fibonacci retracement level. Wave trend analysis shows that Ethereum (ETH), just like before can begin another downtrend towards the bottom of the descending channel. ...

Can Bitcoin (BTC) Fall Below $6,000 Again?

Bitcoin (BTC) has been in a steady decline since the beginning of the year. The first wave of this decline, from January to February was a very steep one. However, when Bitcoin (BTC) broke the first downtrend and entered another phase of decline, the fall was not as steep. Similarly, this second downtrend was broken in August and now Bitcoin (BTC) is struggling to break past the third downtrend resistance. As we can see on the above chart for BTC/USD, this decline has become less steep with time as the correction comes to an end. This means that finding a bottom has not been a target but a process for Bitcoin (BTC). The less steep the decline gets, the more likely it becomes for Bitcoin (BTC) to begin a new trend. An interesting observation on the above chart for BTC/USD is its relation to...

Ripple (XRP) Still Likely To Close The Week In Green

Ripple (XRP) investors have seen some massive returns on investment these past few weeks but there are reasons to believe that this rally is not over yet. Ripple (XRP) had to retrace after an aggressive rise from $0.30 to $0.80. The above hourly chart for XRP/USD shows that the price has now entered into a major bull flag. This is a very bullish development for Ripple (XRP) which could push the price back above $0.80 in the days ahead. The likelihood of a further price retracement seems low at this point but even if it did break, the price would find a strong support atop the 200 EMA. Ripple (XRP) has been on a roll since uncertainty surrounding Bitcoin (BTC) ETF decision became clear. The price has now seen a major boost which resembles the typical trading pattern of Ripple (XRP) during i...

Is Stellar (XLM) Finally Out Of The Woods?

Stellar (XLM) made an incredible 25% gain today. However, the price has quickly retraced back towards the downtrend resistance. Whether Stellar (XLM) closes the weekly candle below or above the downtrend resistance today will decide Stellar (XLM)’s direction for the weeks to come. At this point, it does seem reasonable to assume that the downtrend is indeed over. Wave trend analysis for the above weekly XLM/USD chart shows that a new trend has begun. Elliot wave oscillator for the above chart also shows that the bear trend has ended. Additionally, the 21 week EMA which had been a strong resistance for XLM/USD these past six weeks has now been breached. In the world of cross border and peer to peer payments, Stellar (XLM) has emerged as a strong contender. If Ripple (XRP) did not have such ...

Why Ethereum Classic (ETC) Is The Next Bitcoin (BTC)

Chart for ETCUSDShorts (1W) Ethereum Classic (ETC) is a lot like Bitcoin (BTC) was back in 2012. Majority sentiment was against Bitcoin (BTC) and very few people actually believed that it might have a real shot at the level of adoption that it has achieved today. However, towards the end of 2012 we saw a major shift in sentiment as more people began to realize the importance of having a decentralized, independent and deflationary digital currency that might eventually replace centralized, inflationary and dependent fiat currencies. The concept is what got people on board but the greed to profit off upcoming rallies and price boosts is what kept most people in the game. Regardless of their motives, these investors have helped Bitcoin (BTC) reach the extent of adoption and acceptance that we...

Has Ethereum (ETH) Finally Lost Its Charm?

Chart for ETH/BTC (1W) Ethereum (ETH) might have finally lost its charm as we have seen it losing the war on multiple fronts. On one front, it has lost to Ethereum Classic (ETC), on another front cryptocurrencies like Cardano (ADA) and EOS (EOS) are threatening its dominance. Ethereum (ETH) has had enormous success when you consider the thousands of ICOs that have successfully been hosted on the Ethereum blockchain. It was also one of the most profitable coins to hold in 2017 as even investors who were late to the cryptocurrency rush could have profited more than 100x buying just last year. Ethereum (ETH) did manage to reach an all time high above $1500 but recently we have seen a fading interest in the cryptocurrency. This has to do with Ethereum (ETH)’s fundamentals more than the technic...

Litecoin (LTC) Remains Bullish Despite Concerns Over Value Proposition

Chart for LTC/USD (1W) Litecoin (LTC) has been the subject of heated debates in the crypto community regarding its value proposition. The number of people who used to believe in Litecoin (LTC)’s value as a project that contributes something of value to the crypto industry is on the decline. This is to be expected as Bitcoin (BTC) sets out to resolve its problems that Litecoin (LTC) set out to address. If Bitcoin (BTC) ends up doing the same things that Litecoin (LTC) can, it will practically leave zero use for Litecoin (LTC). This realization is growing stronger than ever, but despite the negative criticism over Litecoin (LTC)’s value proposition, we have not seen a big impact on its price short term. The above chart for LTC/USD on the weekly time frame shows that Litecoin (LTC) has strong...

Ripple (XRP) Rally Slows Down After Facing Resistance At 200 Day EMA

Ripple (XRP) had a long streak of bullish rallies these past few days as the price rallied straight through strong resistances from $0.25 to $0.50 in matter of just four days! That is a 100% increase in a period of four days. This rally is even more astounding when you consider that the rest of market is still at a standstill and there is no clear direction. Ripple (XRP) investors on the other hands seem to be very clear about where the market is headed next. This is why many in the crypto community believe that Ripple (XRP) might just have kicked off the altcoin rally or it might be the most elaborate bull trap we have ever seen. Technically, Ripple (XRP) is not in the clear yet. The price has had an impressive rally but the 200 Day EMA resistance will be a tough one to break. The third d...

Ripple (XRP) Has Already Kicked Off The Altcoin Rally

Ripple (XRP) has already kicked off the altcoin rally. It does come as a surprise considering the change of sentiment that Ripple (XRP) has magically achieved over the past few weeks. As always, the team behind Ripple (XRP) shows a glimpse of its talent. News of partnerships with more financial institutions has sent the price on a bullish spree these past few days. While some may think it is not sustainable and that the price may fall down if Bitcoin (BTC) trade sideways, we believe that is not the case. Bitcoin (BTC) can be expected to remain sluggish or trade sideways for the entire period this altcoin rally lasts. Cryptocurrencies like Ripple (XRP) have had extensive corrections and have now reached their all time lows against Bitcoin (BTC). Altcoins have long been on the verge of a tre...

Ethereum Classic (ETC) Price Being Manipulated As The Whales Accumulate

Chart for ETC/USD (1W) Ethereum Classic (ETC) has seen a lot of favorable developments over the past few months but the price has failed to rise successfully. If anything, one might be led to believe that those developments actually did not affect the price at all and that interest in Ethereum Classic (ETC) has not changed a bit. There are two sides to this. For retail investors that trade sentiment or hype which is very common in this industry, it is early days yet to be thinking about Ethereum Classic (ETC). We have seen a lot of investors turn to projects like EOS (EOS) over and over again just because it receives a good pump every now and then. I know for a fact that most of these ‘investors’ do not have the slightest idea as to the fundamentals of such projects nor do they care as lon...

Why Bitcoin (BTC)’s Price Is A False Indicator Of Actual Value

Chart for BTC/USD (1W) Bitcoin (BTC) is currently trading just above $6,400. The average cost for mining one Bitcoin (BTC) lies slightly below this level between $5,800 and $6,200. This is the reason the price has managed to stay above those levels for now despite the fact that the volume is so low that a couple of million dollars could swing the price either way. If this had been a currency pair, for instance EUR/USD or GBP/JPY or a stock, there would be no debate regarding the actual and perceived value. This would be because most of the stocks or forex pairs are traded online, the volume generally speaking, is high and the price does reflect the actual value of the asset at the time. Sure, there can be manipulation or things might change long term but everything is on the table, most pl...

Why NEO (NEO) Is A Strong Buy Below $50

Chart for NEO/USD (1D) Neo (NEO) is a bargain below $50. Many in the crypto community may not see this yet but when China takes a 180 degree turn on cryptocurrencies, the effects will start to appear. We are currently one heartbeat away from meaningful regulation that is going to open the gates to traditional investors, family offices as well as large financial institutions. China has been discouraging its public from trading cryptocurrencies, but when you think about it, this is to be expected from any responsible government. While I do not agree that governments should right out ban cryptocurrencies just because there is no meaningful regulation to protect their public, I do understand why governments across the globe would want to inform their public as to the risks and dangers of buyin...