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Ethereum (ETH) Dominance Plunges To New Lows

Ethereum (ETH) dominance has now declined to new lows. This is a very bearish event for the altcoin market in general and Ethereum (ETH) in particular. If we take a look at the daily chart for Ethereum Dominance (ETH.D), we can see that it plunged to new lows yesterday. It ended up closing the day by bouncing up significantly but now it has begun another day in the red. This is quite interesting to see at a time when 80.3% of traders are long and 19.7% traders are short on Ethereum (ETH) at the moment. This is an even bigger...

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Iran To Ban Ethereum

Across Asia, the feeling towards cryptocurrency is rather positive, though this doesn’t mean that all countries on the continent are following the trend. Recent reports suggest that Iran have recently taken steps to ensure that cryptocurrency trading in Iran is to become illegal. This means that the purchase and trade of cryptocurrencies like Ethereum and Bitcoin is to become against the law. According to FXStreet: “The Cabinet of Ministers of Iran has approved the bill that made cryptocurrency trading illegal on the territory of Iran. Meanwhile, crypto mining is considered as eligible industrial activity, the local media outlet PressTV reports....

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Sally Ho's Technical Analysis 7 August 2019

Bitcoin Bitcoin (BTC/USD) lost some ground early in today’s Asian session as the pair depreciated to the 11,187.00 area after escalating higher to the 12,320.40 area during yesterday’s European session.  Significant Stops were elected during the pair’s ascent above the 11,950.79 area during yesterday’s Asian session, a level that was a downside price objective related to the pair’s decline from the 13,202.63 area on 10 July. The significance of the 11,950 area was reaffirmed early in today’s Asian session when Bids emerged right around the 11,175 area, the next downside price objective related to the depreciation from 13,202.63. Market sentiment...

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Ethereum (ETH) Eyes Further Downside As Price Faces Rejection At 50 Day EMA

Ethereum (ETH) closed the week below the 21 Week EMA but that did not stop it from temporarily misleading the market into thinking that it still has some juice for further upside. So, yesterday, the price rallied hard but it ended up closing below the 50 day EMA. Today, we saw another rally to the 50 day EMA which met the same fate. The trend line support turned resistance also served as a strong resistance and this confluence of resistance zones points to further downside for ETH/USD in the days and weeks ahead. If we take a look at the...

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Sally Ho's Technical Analysis 6 August 2019

Bitcoin Bitcoin (BTC/USD) continued its surge early in today’s Asian session as the pair moved back to the 11,821.77 area following a pullback from the 11,950.00 level late in yesterday’s North American session. Yesterday’s high represents the pair’s strongest print since 12 July and was just below a technical level that represents the 38.2% retracement of the move from 8,919.72 to 13,868.44.  That range’s next upside price objective is the 12,700.54 area. Strong demand emerged during yesterday’s Asian session when the pair sharply climbed from 10,770 to 11,661. BTC/USD is now trading above its 50-bar MA (4-hourly), 100-bar MA (4-hourly),...

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