Today's Hot Topics

Sally Ho's Technical Analysis 25 May 2019

Bitcoin Bitcoin (BTC/USD) reversed course early in today’s Asian session and found some Bids at 7970.00, right around the 76.4% retracement of the 8388.00 – 6600.00 range. During the pair’s move lower this week, traders managed to keep a floor under BTC/USD just below the 50% retracement of the same range. If BTC/USD is going to make meaningful advances on the upside, it will need to establish technical Support in the 7890 – 7990 range. Traders continue to eye the 8114.90 area on the upside, a level that it has tested within the previous 24 hours with Stops elected above....

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Ripple (XRP) Likely To Experience More Pain Than Other Cryptocurrencies

Ripple (XRP) is hanging by a thread as the price eyes a break below the descending triangle in the weeks ahead. XRP/USD has now faced repeated rejections at the 50 week moving average and it is more likely to go down than up. From a risk/reward standpoint, it is plausible to look for entries to sell here. The price might fall below the current support to settle around the next support at $0.147. However, the weekly chart shows that XRP/USD has yet to see the same level of correction as the rest of the market. Ripple (XRP) is still lagging...

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Buterin Proposes Privacy Solution For ETH Transactions

The co-founder of Ethereum, Vitalik Buterin has just proposed for Ethereum to have a new integration that would provide a degree of anonymity to one-off ETH transactions. Adoption seems to have been gaining some traction since the start of the year and some industry focus is making a shift towards privacy and protecting the anonymity of cryptocurrency users - all while maintaining the integrity of public blockchains. With Ethereum being an open-source technology this might seem a little ironic but as Buterin says in a blog post: “We need a first step toward more privacy.” In the post, Buterin outlines...

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Facebook’s GlobalCoin To Release Before 2020

We’ve been talking about ‘Facebook Coin’ for the better part of six months on CryptoDaily but it’s all been in speculation. Now we have confirmation that Facebook is indeed creating its very own cryptocurrency. It’s been floating around for a while now that Facebook has been creating a cryptocurrency in the secret Libra’ project but the BBC have just reported that the giant is in fact on track to start testing its Bitcoin rival, which is to be known as GlobalCoin, before the end of the year. Project Libra Libra started about 12 months ago when Facebook was looking to...

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Ethereum (ETH) Highly Likely To Fall To A Double Digit Price By Year End

Ethereum (ETH) is expected to fall to a double digit price by year end. That does not mean that the bear market will necessarily come to an end by then but that ETH/USD might be trading well below its current price. The rationale behind this is that the price of Ethereum (ETH) has been overbought for a long time now and as the weekly chart shows, the RSI has now faced rejection at its trend line resistance. This trend line resistance goes back to 2017 and it is extremely unlikely to be broken at this point under such overbought conditions....

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