Are the bulls out of strength to push the rates for Bitcoin (BTC), Ethereum (ETH), and XRP up?
With the last day of the week, the cryptocurrency market is about to finish with pressure from sellers. One possible reason for this being the case is that spring holidays are taking place now in the USA and Europe.
Below is the key data for Bitcoin (BTC), Ethereum (ETH), and XRP:
Looking at the hourly chart, the chief crypto is stuck within a Wedge pattern. From a technical and analytical perspective, this is a bearish signal, and that the decline is about to continue. Dominance from the selling trading volume is another reason for the coin to drop. As for the current situation, Bitcoin (BTC) might find support between the $6,600-$6,650 levels soon.
Looking at the daily time frame, the bears have so far not broken through the rising channel. Furthermore, there is enough high liquidity at the current levels not to push the price lower between the $6,400-$6,500 range.
What is more, the Moving Average Convergence/Divergence (MACD) indicator is about to switch to the green, confirming an upcoming bullish presence. If this scenario comes true, the nearest resistance level at $7,000 will be achieved within a few weeks.
At press time, Bitcoin was trading at $6,856.
Ethereum (ETH) is almost copying the trading pattern of the largest cryptocurrency. Its price has decreased by 0.41% in the last 24 hours.
Looking at the 4H chart, Ethereum (ETH) is going down. So far, the current levels have not touched the local bottom. The ongoing decline is confirmed by the Bollinger Bands, the lines of which are moving down. Furthermore, the trading volume is also falling, which confirms the current decline. All in all, the bulls might show their strength around the $150 level.
At press time, Ethereum was trading at $158.17.
XRP has had the largest gains of the top 3 coins. Its price has gone up around 1% since yesterday.
XRP is also an exception in terms of possible short-term growth. Considering the historical background, the coin often showed good price dynamics against the sideways trends of the other coins. Moreover, the bullish divergence on the Relative Strength Index (RSI) indicator has been formed on the 4H chart. To sum it up, there is a high probability for XRP to reach $0.20 shortly.
At press time, XRP was trading at $0.1927.
Author: Sun, 04/12/2020 – 16:03
Focus on digital currencies: How Bitcoin, Ripple, Ethereum & Co. move on Easter Sunday | 04/12/20
Today the bitcoin price fell to $ 6,860.05. The Bitcoin price slipped below the previous day's $ 6,900.23.
The Bitcoin Cash rate decreased to $ 230.74. The previous day, the cryptocurrency was worth $ 232.90.
The Ethereum price drops to $ 157.94. The day before, it was $ 158.45.
The Litecoin price had to drop to $ 42.49 today. In contrast, a price stood at $ 42.51 the previous day.
The ripple price is trading at $ 0.1923 on Sunday. The ripple price rose above the previous day's level of $ 0.1887.
The Cardano price rose to $ 0.0334 after trading at $ 0.0333 the previous day.
The Monero rate has decreased. At lunchtime, the Monero fell to $ 53.13 after trading at $ 53.40 the previous day.
The IOTA course is easier compared to the previous day. An IOTA is currently worth $ 0.1591. Yesterday, the price was still at $ 0.1608.
The Verge was quoted at $ 0.0026 on Sunday. The previous day, Verge had been worth $ 0.0026. With this, the Verge continues its sideways movement.
The Stellar price dropped to $ 0.0490. The previous day's price was at $ 0.0495.
The NEM rate rises to $ 0.0368. The NEM exceeded the previous day's level of $ 0.0366.
The dash price dropped to $ 74.12. The previous day, the cryptocurrency was worth $ 74.56.
The NEO price was $ 7.285 on Sunday. The NEO course thus climbed above the previous day's level of $ 7.277.
EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 12/04/20
EOS rose by 0.65% on Saturday. Following an 8.69% tumble on Friday, EOS ended the day at $2.5122.
A bullish start to the day saw EOS rise to a mid-morning intraday high $2.5493 before hitting reverse.
Falling short of the first major resistance level at $2.6863, EOS slid to a late intraday low $2.4289.
Steering clear of the first major support level at $2.3580, EOS bounced back to $2.52 levels before easing back.
At the time of writing, EOS was down by 1.19% to $2.4823. A bearish start to the day saw EOS fall from an early morning high $2.5256 to a low $2.4767.
EOS left the major support and resistance levels untested early on.
EOS would need to move through to $2.50 levels to support a run at the first major resistance level at $2.5647.
Support from the broader market would be needed, however, for EOS to break out from Saturday’s high $2.5493.
Barring a broad-based crypto rebound, resistance at $2.50 would likely leave EOS short of the first major resistance level.
Failure to move through to $2.50 levels could see EOS fall deeper into the red.
A fall back through the morning low $2.4767 would bring the first major support level at $2.4443 into play.
Barring another crypto meltdown, however, EOS should steer clear of the second major support level at $2.3764.
Major Support Level: $2.4443
Major Resistance Level: $2.5647
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
Ethereum rose by 0.28% on Saturday. Following a 6.84% slide on Friday, Ethereum ended the day at $158.55.
Tracking the broader market, Ethereum rose to an early morning intraday high $161.50 before hitting reverse.
Falling short of the first major resistance level at $168.23, Ethereum slid to a late intraday low $154.2.
Steering clear of the first major support level at $150.14, Ethereum found late support to end the day in the green.
At the time of writing, Ethereum was down by 1.22% to $156.62. A bearish start to the day saw Ethereum fall from an early morning high $159.80 to a low $156.51.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move back through to $158 levels to support a run at the first major resistance level at $161.97.
Support from the broader market would be needed, however, for Ethereum to breakout from Saturday’s high $161.50.
Barring a broad-based crypto rebound, resistance at $160 would likely leave Ethereum short of the first major resistance level.
Failure to move back through to $158 levels could see Ethereum fall deeper into the red.
A fall through to sub-$156 levels would bring the first major support level at $154.67 into play.
Barring a crypto meltdown, however, Ethereum should continue to steer clear of sub-$150 support levels.
The second major support level at $150.78 should limit any downside on the day.
Major Support Level: $154.67
Major Resistance Level: $161.97
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Ripple’s XRP gained 0.27% on Saturday. Following a 5.73% slide on Friday, Ripple’s XRP ended the day at $0.18860.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $0.19247 before hitting reverse.
Falling short of the first major resistance level at $0.1974, Ripple’s XRP slid to a late intraday low $0.1853.
Steering clear of the first major support level at $0.1802, Ripple’s XRP recovered to $0.188 levels to end the day in the green.
At the time of writing, Ripple’s XRP was down by 0.65% to $0.18737. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.18998 to a low $0.18708.
Ripple’s XRP left the major support and resistance levels untested early on.
Ripple’s XRP will need to move back through to $0.1890 levels to support a run at the first major resistance level at $0.1923.
Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.19 levels.
Barring a broad-based crypto rebound, the first major resistance level at $0.1923 would likely limit any upside on the day.
In the event of a breakout, the second major resistance level at $0.1960 would likely come into play.
Failure to move back through to $0.1980 levels could see Ripple’s XRP struggle throughout the day.
A fall through the morning low $0.18708 would bring the first major support level at $0.1851 into play.
Barring another crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.18 levels.
The second major support level at $0.1816 should limit any downside.
Major Support Level: $0.1851
Major Resistance Level: $0.1923
23.6% FIB Retracement Level: $0.3638
38.2% FIB Retracement Level: $0.4800
62% FIB Retracement Level: $0.6678
Please let us know what you think in the comments below.
This article was originally posted on FX Empire
- The Week Ahead – COVID-19, Earnings and Economic Data in Focus
- NZD/USD Forex Technical Analysis – Holding Above .6074 Will Continue to Generate Upside Momentum
- EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 11/04/20
- USD/JPY Forex Technical Analysis – Has to Hold 108.008 – 106.706 to Sustain Upside Momentum
- Playing the S&P500 Through FX – the AUD has Found its Mojo
- The Crypto Daily – Movers and Shakers -11/04/20
Author: Bob Mason
Why One Crypto Hedge Fund Won’t Hold XRP and Stellar (XLM)
In a recent interview on Thinking Crypto, the CEO of Morgan Creek Capital, Mark Yusko, talked about the current state of the stock markets, the global impact of COVID19, amongst other relevant topics in our current global economic environment.
One key takeaway from the interview was why the crypto fund did not have XRP and Stellar (XLM) on its Digital Asset Index Fund. He explained the reason for this was that both digital assets were too closely held by Ripple and the Stellar foundation respectively.
We exclude anything that is too closely held. So we don’t own Stellar, we don’t own XRP.
He also added that his vision for the firm’s Digital Asset Index Fund was to have it evolve into the S&P 500 of cryptocurrencies.
The reason we set up the digital asset index fund the way we did…we wanted it to be the S&P 500 of crypto.
And what does the S&P 500 do?
It has a committee that decides which 500 companies go in. And then they exclude anything that is closely held…that can be manipulated by price. And so Tesla for example, by size, would be on the S&P but it can’t be because it is too closely held.
So the same thing is true in crypto. There were two that had too much densely held tokens and so we feel like those can be…they are not as freely tradeable as Bitcoin, Ethereum, Dash and Monero.
Morgan Creek’s decision to exclude XRP and Stellar (XLM) on its Digital Asset Index Fund has provided much-needed insight into how institutional investors view the two digital assets. Such investors will avoid both cryptos because Ripple and the Stellar Foundation own considerable amounts of XRP and XLM. Perhaps with the additional crypto market distribution of both XRP and XLM, shall such crypto funds consider them as part of their portfolios.
(Feature image courtesy of Kai Pilger on Unsplash.com.)
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
Author: John P. Njui·XRP NewsOpinion·April 12, 2020·2 min read·366 views
Ethereum Just Got a MASSIVE Boost Forward as Reddit’s Cryptocurrency Launch CONFIRMED!!
Опубликовано: 11 апр. 2020 г.
UPDATE: Reddit is experimenting with “Community Points” – a new system for subreddits (communities) that gives users extra benefits. These are stored using Ethereum’s ERC-20 token standard. Let’s discuss!
Follow us on Twitter:
Follow me [Austin] on Instagram here 👇
Follow us on Patreon here:
Huge Thank You To Our Patreon Family:
Bare Bones Mining
Support the channel:
💥Get a Nano Ledger S: Best Way to Keep your Cryptocurrency Safe!
💥Keep Your Bitcoin Private Keys Safe w/ CryptoTag:
💥Earn Bitcoin Cashback Rewards Shopping w/ Fold App (Amazon, Uber, Starbucks, Target)
Use Promo Code “KzalHqIQ” and get 20k Satoshis Free
#Bitcoin #Ethereum #Crypto #Invest #TheFed #News #Litecoin #Cardano #Ethereum #DigiByte #Litecoin #Invest #Binance #Elastos #PundiX #Tron #IOTA #Ripple #XRP #Starbucks #StellarLumens #Google #Vechain #Bakkt #cryptocurrency #news #btc #Invest #eth #litecoin #altcoin #altcoins #forex #money #best #trading #bitcoinmining #trader #cryptocurrencies #top #investing #stocks #marketanalysis #entrepreneur #business #success #investment #finance #bitcoins #motivation #coinbase #stocks #bakkt #starbucks #America #S&P #ChamathPalihapitiya
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! USE ALTCOIN DAILY AS A STARTING OFF POINT!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, cryptocurrency, crypto, altcoin, altcoin daily, blockchain, news, best investment, top altcoins, ethereum, tron, best altcoin buys, hodl, vechain, 10x, 100x, investment strategies, 2020, eos, top altcoins 2020, Bitcoin scam, bitcoin crash, bakkt, xrp, cardano, ripple, bitcoin bottom, bull run, should I buy bitcoin, digibyte, binance, btc, fomo, libra, top investments, the fed, fail, breaking news, white house, reddit, erc-20, subreddit, community points,