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Ethereum (ETH) Starts The Week In Green, Faces Rejection At Key Trend Line

Ethereum (ETH) started the week in green and rallied hard until it ran into a key trend line resistance. This resistance will be very hard to breach as the price has failed to break past it since the beginning of the year. If ETH/USD falls from current levels towards the bottom of the ascending channel, we could see it break below the channel to decline further. Ethereum (ETH) is already heavily overbought against both the US Dollar (USD) and Bitcoin (BTC) but if it breaks past this resistance, we can see it rally past $300 in no time. There is...

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Bitcoin (BTC) Has Room To Rally Till The S&P 500 Index (SPX) Tops Out

The S&P 500 Index (SPX) closed last week with a bullish candle, the likes of which we have not seen in the past two years. This is really good news for Bitcoin (BTC) and other cryptocurrencies as it means that the stock market now has room to rally which means BTC/USD has ample room to revisit $9,000 again and most likely rally towards $10,000. The weekly chart for the S&P 500 Index (SPX) shows that the index tested trend line resistance two times before and is now likely to test it once more. This retest will give BTC/USD room to...

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Sally Ho's Technical Analysis 10 June 2019

Bitcoin Bitcoin (BTC/USD) continued to be pressured early in today’s Asian session as the pair depreciated to the 7508.77 area after facing selling pressure during yesterday’s European and North American sessions. The pair has twice tested the 7515.25 area multiple times over the past several hours, representing the 38.2% retracement of the move from 4967.61 to 9090.00. Some Stops were elected below the 200-bar MA (4-hourly) yesterday around 7777.00, and then again below the 7724.78 area, representing the 38.2% retracement of the 5516.12 – 9090.00 range. BTC/USD continues to consolidate recent gains and traders continue to identify some targets and...

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Could Ripple (XRP)’s Next Big Move Result In Decoupling From Bitcoin?

Ripple (XRP) is a lot different than most cryptocurrencies for a number of reasons. First of all, it does not use blockchain technology. Instead, it uses distributed consensus ledger using a network of validating servers. Second of all, Bitcoin (BTC) is supposed to be digital gold and a store of value while Ripple (XRP) is just a digital currency aimed at making payments faster and cheaper. It is quite obvious that both of them actually have quite little in common apart from both being called cryptocurrencies. Now, this decoupling debate is not new. We have seen it come under discussion...

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Ethereum (ETH) Weekly Close Above 50 EMA Would Be Very Bullish Short Term

Ethereum (ETH) is finally closing a week in red after months of uptrend, but this may not be as bearish as it looks. In fact, it ETH/USD ends up closing the weekly candle above the 50 week EMA, that would be a very bullish development, one that might pave the way for a rally past $300 in the weeks ahead. Ethereum (ETH) was primed for a major decline but it stalled that decline by cooling off short term to make way for another rally to the upside. The price can keep on consolidating and rising in this manner for a...

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