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Cardano (ADA) Makes A Bullish Comeback As Price Finds Bottom Against Bitcoin (BTC)

Cardano (ADA) has finally touched the bottom of the pitchfork formation it has been trading in. The above chart for ADA/BTC on the daily time frame proves that sometimes it is best to let the market run its course rather than to enter a position and wish for a miracle to happen. When Cardano (ADA) entered the last segment of the pitchfork formation against Bitcoin (BTC), few analysts might have expected it to fall all the way to the bottom because that would have meant a break of market structure for Cardano (ADA) against the US Dollar (USD). However, as...

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Bitcoin (BTC) Is Losing Dominance To Rapidly Growing Altcoin Market

Bitcoin (BTC) dominance is on a steady decline. Since the evolution of the altcoin market in 2017, we have seen Bitcoin (BTC) drop from its historical dominance levels towards new lows. The trend is expected to continue for the foreseeable future. This is a favorable development for the crypto community as a lot of good projects will continue to receive the funding they need to contribute to the blockchain industry. Bitcoin (BTC) had a long span of absolute dominance since its inception. Ethereum (ETH) on the other hand enjoyed dominance for a little while as it profited directly off Bitcoin...

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Ethereum (ETH)’s Fate Hinges On 0.786 Fibonacci Support

Chart for ETH/USD (4H) Ethereum (ETH) has been in the eye of the hurricane for the last few weeks. The price has taken wild swings to both sides. The 4H chart above for ETH/USD shows that the price has to take a definitive stand now. Ethereum (ETH) has currently found support at the 0.786 Fibonacci retracement level which is a very critical level for the future price action of Ethereum (ETH). If Ethereum (ETH) breaks below this level, it will be a sign of extreme weakness and the price can then be expected to break the long term descending channel...

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Golem (GNT) Likely To Reach McAfee’s Price Target Of $5 By End Of Year

Golem (GNT) is up 7% for the day while the rest of the market bleeds. Normally, this would not be a big deal but the chart above for GNT/USD on the weekly time frame shows us exactly why it is a big deal this time. RSI for GNT/USD peaked around January 2018 as shown on the chart. Since then, it has been on a steady decline trading in a falling wedge. After an extensive correction of nine months, RSI for GNT/USD has finally broken out of this falling wedge to the upside. This means that Golem (GNT) is one heartbeat...

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Why Bitcoin (BTC)’s Next Big Move Will Be Decisive

Bitcoin (BTC) is at a critical point at the moment. The moves it makes from here on out will determine whether the gradual shift in trend over the past few months has been of consequence or not. The above daily chart for BTC/USD shows that Bitcoin (BTC) cannot afford to mess around here. Since the month of July, we have seen a hidden bullish divergence. RSI seems to have found a strong support and is now expected to trade upwards from current levels. Similarly, wave trend profile for the above chart clearly shows a series of higher lows since July...

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