Hot Topics

Advertisement

Advertisement

Ethereum (ETH) Completes Weekly Bearish Cycle, Green Days Ahead

Ethereum (ETH) has just completed a weekly bearish cycle that started in May. The cycle comprised of 9 red candles as can be seen on the ETH/BTC chart above. The last time this happened, we found the next few weeks to be green. Before, the correction when Ethereum (ETH) completed 9 red candles, we saw a big run up to its all time high against Bitcoin (BTC). Ethereum (ETH) is once again in a similar position it is poised to break out of its downtrend resistance in the next few weeks. RSI for ETH/BTC has reached critical levels. This means...

Read More

Ethereum Classic (ETC) About To Break The Downtrend Resistance, Sell Orders Decreasing On Exchanges

Ethereum Classic (ETC) is about to take off as it prepares to break the downtrend resistance line on the daily ETC/USD chart above. Since the beginning of this correction, Ethereum Classic (ETC) has tested this resistance line at least 5 times but it has failed to break past it. This time, the price has reached the bottom of the ascending channel and it would be incredibly easy for the bulls to push the price past this resistance. Order books on most exchanges are heavily dominated by buying action as sellers are reluctant to sell at current prices, especially before a...

Read More

Bitcoin (BTC) Turns Bearish After ETF Rejection

It is a sad day in the crypto community as the SEC has rejected a BItcoin (BTC) ETF Proposal presented by the Winklevoss Twins. Earlier this month, this ETF proposal became the cause of a lot of hype and FOMO which pushed the price rapidly from $6,200 to around $8,300 as can be seen on the BTC/USD  daily chart above. This misled many investors into thinking that the correction is over and Bitcoin (BTC) is out of the woods. While it may be true that we might be close to the end of this extended correction, it is likely that...

Read More

Bitcoin (BTC) Likely To Find A Bottom between $5,000 And $3,000 This Year

Bitcoin (BTC) has run into resistance and now appears to have topped out once again as it sets for a pullback. EMA alignment for BTC/USD on the daily chart above continues to remain bearish. The price action is showing signs of weakness as the bulls lose momentum at the strong downtrend resistance. RSI on the daily chart has also reached overbought levels. Furthermore, the RSI is trading in a rising wedge, a bearish indicator which means the price is likely to retrace strongly in the next few days. A rejection at this point would prepare Bitcoin (BTC) for its next...

Read More

Ripple (XRP) Finds Support At 100 EMA, Trend Reversal Likely

  Ripple (XRP) once the favorite stallion has recently been more of a dark horse as investors lose interest amidst legal troubles and concerns over XRP’s use cases. The above chart for XRP/USD shows that the price has suffered the most compared to most cryptocurrencies and appears to have reached rock bottom. RSI level for XRP/USD, is now once again at where it was before the beginning of the previous cycle. The price has also respected its long term ascending channel and is currently trading close to the lower limit of that channel. Ripple (XRP) is known for its wild...

Read More