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Ethereum (ETH) Likely To Slide Below $130 If Price Closes Below 200 Day MA

Ethereum (ETH) has made a sudden move to the upside just like Bitcoin (BTC) although not as intense. This is quite surprising to see as usually altcoins rally a lot more than Bitcoin (BTC) whenever the market recovers. The fact that this did not happen should be a cause for alarm in itself as to what could be the catalyst behind this move and whether or not this is sustainable. On surface, the answer is clear. The daily chart for ETH/USD shows that the price is struggling to break past a strong trend line resistance that it has failed to...

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Why Bitcoin (BTC)’s Recent 20% Pump Is More Bearish Than Bullish Long Term

Bitcoin (BTC) surprised the whole crypto community with a sudden 20% spike today in less than 5 minutes. Until now, nobody knows what triggered this spike. We do not know whether this was some major whale that placed a large order on a big exchange or a shark who liquidated some short positions that led to the sudden spike. By now, the number of margined shorts has also seen a major decline also around 20% but those who have been following BTCUSDShorts while BTC/USD spiked know that the number of margined shorts fell after the spike in the price of...

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Ripple (XRP) Faces Trend Line Rejection As Price Rallies Towards $0.33

Ripple (XRP) has faced trend line resistance and is now likely to trade sideways before it makes its next big move. The next move could either result in a continuation towards the $0.33 level or a sharp decline towards the bottom of the triangle if XRP/USD falls below the 50 MA on the 4H timeframe. Ripple (XRP) is still better positioned for another rally to the upside compared to most cryptocurrencies. However, the price is close to entering overbought territory against the US Dollar (USD) on the daily time frame. That being said, the weekly time frame does indicate that...

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Ethereum (ETH) Primed For Its Biggest Decline Since The Beginning Of The Year

Ethereum (ETH) has been trading sideways for the past few weeks to no avail. The price has neither gone up nor come down but only traded further along the ascending triangle it has been trading in. This ascending triangle also forms part of a large bear pennant which means the price is likely to decline significantly should it fall below this triangle. That being said, Ethereum (ETH) bulls are still hopeful about a bullish reversal that could kick in if the 50 day moving average crosses above the 200 day moving average to form a golden cross. This golden cross...

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Bitcoin (BTC): S&P 500 Outlook And SEC Postponement Likely To Hasten The Fall

Bitcoin (BTC) appears vulnerable once again as bad news from the SEC and the grim outlook of the stock market signal further decline just when the price has run into a long term trend line resistance. We have previously pointed out the correlations between BTC/USD and the S&P 500 (SPX). Bitcoin (BTC) being part of a high risk emerging market often takes a bigger fall whenever the S&P 500 declines. This is very reasonable to see as investors try to get out of riskier assets whenever the stock market is in a decline. The majority of investors have no doubt...

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