Bitcoin worth began a gentle restoration above the USD 10,500 and USD 10,550 resistance ranges. BTC even surpassed the USD 10,700 degree, and it’s at present (08:30 UTC) going through resistance close to USD 10,800. The principle resistance for a sustained upward transfer remains to be close to USD 11,000.
Additionally, most main altcoins are displaying constructive indicators and recovering increased, together with ethereum, XRP, litecoin, bitcoin money, EOS, XLM, LINK, BNB, TRX, and ADA. ETH/USD is up over 2% and it surpassed the USD 375 resistance. XRP/USD is now buying and selling above USD 0.245 and it’d proceed increased in the direction of the USD 0.250 resistance.
Complete market capitalization
There was a constructive motion in bitcoin worth after it efficiently settled above the USD 10,550 resistance. BTC even surpassed USD 10,700 and examined the USD 10,800 resistance. It’s at present consolidating positive aspects and it might slowly rise in the direction of the primary USD 11,00Zero resistance zone. A detailed above USD 11,00Zero is required for a sustained upward transfer.
If there’s a draw back correction, the worth would possibly discover bids close to the USD 10,600 and USD 10,550 ranges within the coming periods.
Ethereum worth declined following a bullish trajectory above the USD 350 and USD 360 ranges. ETH even broke the USD 375 resistance, however it’s going through an uphill process close to the USD 390 and USD 400 resistance ranges. The subsequent main resistance is close to the USD 420 degree.
On the draw back, an preliminary help is close to the USD 365 degree. The principle help is now forming close to the USD 350 degree, beneath which the bears would possibly take over and the worth would possibly decline in the direction of USD 320.
Bitcoin money worth is up greater than 7% and it broke the important thing USD 230 resistance. BCH is now going through promoting curiosity close to USD 240, above which it might rally in the direction of the USD 250 resistance. If there’s a draw back correction, the worth would possibly discover bids close to the current breakout zone at USD 230.
Chainlink (LINK) remains to be buying and selling in a variety close to USD 12.00. To start out a robust improve, the bulls want to achieve power above the USD 11.80 and USD 12.00 resistance ranges. Alternatively, an in depth beneath USD 11.80 might open the doorways for extra losses. The subsequent main help is close to the USD 10.20 degree.
XRP worth settled above the USD 0.245 resistance zone. The value would possibly climb increased in the direction of the USD 0.250 and USD 0.255 resistance ranges so long as it’s above USD 0.244. If it fails, there’s a threat of a recent decline in the direction of the USD 0.240 and USD 0.238 ranges.
Prior to now three periods, just a few altcoins gained over 8% together with EGLD, CKB, BTM, CEL, ABBC, ICX, STX, NEO, SC, and ANT.
Total, bitcoin is displaying constructive indicators above the USD 10,550 resistance. Having stated that, BTC should surpass the USD 10,800 and USD 11,00Zero resistance ranges to proceed increased. If not, it’d appropriate decrease in the direction of USD 10,550 and even USD 10,400.
Author: By admin
Analyst hails Bitcoin’s maturity after holding above $10,000
Bitcoin has doggedly recovered to a historical level of resistance this morning following a prolonged period of consolidation in the $10,000 region.
eToro market analyst Simon Peters believes that while market sentiment isn’t as positive as it once was, the recent recovery shows a level of market maturity.
Peters said: “Despite the drops we saw throughout last week, we failed to see a close below $10,000 and although the sentiment in the community is clearly not overly bullish, I would say that it remains relatively neutral. That doesn’t always make for the most interesting story, but it does show a certain level of maturity in the sector.
“Despite the discussed sub-$10,000 drops, bitcoin’s on-chain metrics continue to be bullish: the hashrate remains at an all-time high; Glassnode data shows that the percentage of bitcoin that hasn’t moved in over three years is at a two-year high of 30.9%; and Bytetree figures on the Miners Rolling Inventory, which measures the inventory held by miners, shows that they are hoarding bitcoin.”
BTCUSD chart by TradingView
Bitcoin has bounced back resiliently after it failed to break above $12,500 in August, leading to a six week correction while altcoins began to recover in light of the DeFi boom.
Market analyst David Derhy predicts that popular altcoin TRX will likely rally after this Wednesday after the issuance of SUN tokens,.
“Wednesday’s release date could spark further price rises from TRX, with those that haven’t yet participated in the SUN token genesis mining rushing to join for fear of missing out on the issuance.” Derhy added.
He does, however, acknowledge that the DeFi sector may be a bubble and that while it has room to grow, it does have a number of similarities with the 2017 ICO boom that eventually burst in 2018.
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Author: News Bureau
Tezos, BAT, Dogecoin Price Analysis: 14 September
Bitcoin briefly spiked to $10,450 before dropping to $10,350, at the time of writing. However, short-term fluctuations might not faze investors one bit as BTC remains one of the market’s best-performing assets by a distance.
Further down the cryptocurrency ladder, Tezos exhibited a falling degree of market volatility as traders and investors watched the crypto-asset closely to catch the direction of its next big move. Dogecoin, however, continued to succumb under bearish pressure.
Tezos was in a consolidation phase after it registered significant drops on the charts. In fact, the cryptocurrency registered a high of $4.49, before plummeting to a low of $2.4. Such consolidation on the charts could mark the end of the downtrend.
Further, the Bollinger Bands were observed to be converging around XTZ’s price over the last few days. Along with the squeeze, a trend of decreasing trading volume was also witnessed.
XTZ was valued at $2.57, with a level of support imminent at $2.56. XTZ’s consolidation above its support line might continue for a few days as XTZ picks up the strength to move upwards on the chart.
It is also possible that XTZ might meet a wave of selling pressure, one that would see the price visit the support level around $2.24 or lower to $1.81.
Basic Attention Token [BAT]
BAT faced resistance at the 78.6% retracement level of its surge in August, with the same highlighted by the Fibonacci Retracement tool.
The Awesome Oscillator registered very weak bearish momentum. However, it should be noted that over the past few days, the indicator was highlighting weak bullish momentum.
Ergo, it can be argued that a reversal in momemtum may be due, something supported by the fact that the CMF underlined growing capital inflows into the market. Buyers’ interest could propel BAT up the charts. Over the past few weeks, after BAT hit local highs, the CMF had largely stayed in the neutral region marked in yellow.
Dogecoin was ranked 49th on CoinMarketCap’s charts with a market capitalization of $347 million. In fact, the cryptocurrency has been on a downtrend ever since its epic pump in July. Even on a shorter time-frame, DOGE struggled to set any higher lows.
At the time of writing, the RSI stood at 43, having not broken past the neutral value of 50 convincingly for a month. This was further evidence of the persistent downtrend in the Dogecoin market.
The next level of support for DOGE lay at $0.0026.
Author: by admin
EOS long-term Price Analysis: 14 September
EOS was/is a supposed competitor to Ethereum and a new place for smart contracts, DApps, etc. However, lately, it hasn’t amounted to much. Once positioned in the top-10 of CoinMarketCap’s rankings, EOS, at the time of writing, was the 12th-largest cryptocurrency in the market with a 24-hour price change of -2% and a -6.3% price change for the week.
Like many altcoins, EOS was once everything, but it might soon disappear into nothingness as many altcoins have. All the pragmatic pessimism aside, the coin was due for an impulse wave, at the time of writing.
The 3-day price chart for EOS, as shown above, revealed the formation of a descending channel, one that was nearing the breakout point. Hence, opening a long position would be the best way to go about EOS.
However, before opening the long position, the price needs to test the center part of the channel and bounce from it. Failing to do so would invalidate the long trade.
Based on the above, the entry would be at $2.379 with stop 17.04% lower than the entry and take-profit at $7.84. This would be mean a surge of 229%. Yes, this is a longshot, however, there’s nothing stopping EOS from hitting these highs.
This trade would provide a humungous R of 13.47.
The final target is $7.84, however, profits can be taken at the following levels – $3.976, $5.367, and finally at $7.84, which is the top of the channel.
One metric to keep an eye on if entering the aforementioned trade is the correlation of EOS with BTC.
At press time, the 30-day Spearman correlation of EOS stood at 0.768, a level that was considerably high. It should be noted, however, that this was relatively lower from its peak of 0.967. Since 17 August 17, the aforementioned correlation has been on the rise on the charts.
In light of Bitcoin’s unfilled CME gap, we can expect EOS to follow Bitcoin down the hill, should the circumstances align. If the same were to ever occur, exiting the trade would be the best case.
Author: by admin