As stated in our previous discussion of the bitcoin market, the $6,425 support level was a very important level to hold.
A failure to maintain support at that price level would undoubtedly cascade the market into a test of deeper support values.
Fortunately, the week started off with a decent bounce off the support level: Figure 1: BTC-USD, 1-Day Candles, Support Level Although the volume was not the best, the price managed to rally decently on a fairly wide spread.
Currently, the price seems to be bound within a pseudo-trading range of sorts where it is meandering around, testing both support and resistance.
We could even argue that current trading indicates a pretty sizeable bear flag:Figure 3: BTC-USD, 12-Hour Candles, Bear Flag This current trend has all the hallmarks of a bear flag: consolidating volume, a weakening upward trend and a downtrend that leads into the consolidation pattern.
Bitcoin is expected to retain its upward momentum if it successfully defends the key support level, Matrixport says. After breaking out of a narrowing wedge pattern, Bitcoin (BTC) now faces a pivotal test at $89,260, a support level seen as…
Bitcoin has experienced a 4% price increase since yesterday, a modest but significant growth that highlights strong demand at the $92,000 level. This movement confirms the resilience of BTC at key support zones and indicates that market sentiment remains positive despite recent fluctuations.
BTC/USD chart and technical analysis Bitcoin is retesting a major support level of $40,700 and if the price manages to break below this level then it will likely further drop to the $37,000 support level.
The native tokens of The Sandbox and Decentrand are slowly diving into their support price level. While this indicates a potential area of buying interest for investors, it can also suggest a weakening market sentiment leading to a further downward movement.
Bitcoin (BTC), the leading cryptocurrency in terms of market capitalization, is displaying persistent indications of an ongoing downtrend. Currently oscillating between the $26,000 level and the $25,800 mark, it is edging closer to a crucial support level at $25,400.
A bearish order block pushed the price below the $318 support level.
BNB shorts retained a 53.9% advantage in the longs/shorts ratio.
The general slump in the crypto market over the last 24 The post Binance Coin dips under key support level, can bulls rally again appeared first on AMBCrypto.
Bitcoin is currently undergoing a serious correction that has caused its price to see some significant losses throughout the past few days The cryptocurrency is now hovering just a hair above $30,000, with bulls struggling to support it above this level as bears take control Where it trends in the mid-term will undoubtedly depend largely on whether or not $30,000 holds as support Any major break below this level could be all that it takes […]
Bitcoin has seen some strong price action following its recent dip down to lows of $17,600 The support here allowed bulls to establish this level as a mid-term bottom, and it has been rising ever since Where it trends next will depend largely on the continued reaction to the support existing at $19,000, as the flip of this level from resistance to support has been promising Another sustained break below this level could be a […]
Bitcoin saw a nosedive that caused it to erase all of yesterday afternoon’s gains as a result of the intense selling pressure around $13,800 This level marks the cryptocurrency’s 2019 highs, and a continued bout of trading at this level could confirm this as a local top It is important to note that BTC has found support above $13,200, which is a positive sign suggesting that upside is imminent The resistance here isn’t the only […]
Stellar (XLM) has validated long-term support at $0. 077. As long as the price is trading above this level, the trend is considered bullish. Technical indicators further support a price increase.
Bitcoin and the aggregated crypto market are currently caught within the throes of a volatile trading session, with BTC plunging below its key $12,000 support level. The break below this crucial support caused it to plunge as low as $11,600, with bulls stepping up and guarding against a decline beneath this level. Analysts are now […]
ChainLink has been decreasing since May 22 but has bounced at a minor support level. However, there is considerable resistance overhead. Tezos is also trading inside an important support level but has broken down from a short-term ascending support line.
After attempting to propel Bitcoin (BTC) higher yesterday, the cryptocurrency’s bulls lost some of their strength, allowing bears to push the crypto back down to $7,200 – which appears to be a key support level for the cryptocurrency that buyers have continued defending.
The ETH market has fallen to the support of the 26-day EMA or to the support level at $290 price level. On the upside, if the 26-day EMA holds, the crypto’s price will rise and retest the $340 overhead resistance level.
Bitcoin continues to coil tightly within its range-bound market as the bulls and bears fight it out to see which is most dominant. On the lower time frames (TF), bitcoin is managing to find support:Figure 1: BTC-USD, 2-Hour Candles, Low TF SupportThe zone outlined by the green line in Figure 1 represents local support that has kept the market afloat for the last week and a half.
Bitcoin’s price once again dipped after it was unable to hold $3,800 as a level of support. This drop led many cryptocurrencies to plunge nearly 5% and has further confirmed that BTC does not have enough buying pressure to allow it to decisively push above $4,000.
This week realized a big gain as bitcoin enjoyed a 25% rally from its local bottom before topping out around $4,400. Support currently appears to be established in the mid-$3,000s as the market remains indecisive over its next move:Figure 1: BTC-USD, Daily Candles, Current Support LevelFigure 1 shows the relevance of the current support level as it represents a previous support level that was never properly retested during last year’s parabolic bull market.
A sideways market has many bitcoin investors wondering if the downward volatility has finally subsided. As stated in our previous discussion of the bitcoin market, the $6,425 support level was a very important level to hold.
Key Points Bitcoin price found support near the $6,620 level and recovered well against the US Dollar. There is a key contracting triangle formed with support at $6,700 and resistance near $6,780 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Highlights ETH price found a strong support around the $525 level and recovered against the US Dollar. Yesterday’s highlighted important bullish trend line is intact with support at $518 on the hourly chart of ETH/USD (data feed via Kraken).
Key Points Bitcoin cash price found support near the $865 level and bounced back against the US Dollar. Yesterday’s highlighted short-term bullish trend line is intact with support at $880 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Key Highlights ADA price failed to move above the $0. 1700 level and declined sharply against the US Dollar (tethered). There is a major contracting triangle in place with support near $0. 1560 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
Litecoin’s price falls again on Monday, but remains above support for the lows of June 14 and 16. The LTC / USD is at risk of falling to $ 89, if it fails to rise above the resistance at the $ 94 level.
Key Points Bitcoin price formed a support base above $6,300 and recovered higher against the US Dollar. There was a break above yesterday’s highlighted crucial bearish trend line with resistance at $6,480 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Points Bitcoin cash price struggled to settle above the $900 level and declined against the US Dollar. There is a major bearish trend line formed with resistance at $850 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Litecoin (LTC) has been going through a rough patch for the past few months as the price nosedived from a euphoric high of $366 to $88. For the past few months, the price has traded closely in a well defined triangle with a support line passing through the $88 mark.
Like the rest of the cryptocurrency market, EOS has suffered a horrendous week in terms of vale. Although the crypto giant may only be down 1. 19% over the past 24 hours, the crypto is down 26. 63% over the past 7 trading days and 29.
Key Points Bitcoin price formed a decent support near the $6,130 level and recovered against the US Dollar. The BTC/USD pair is currently attempting to break a key bearish trend line with resistance at $6,450 on the hourly chart (data feed from Kraken).
The shift has already started; finance is moving onto the blockchain, leveraging the decentralization and disintermediation benefits of the technology’s architecture.
In the previous BTC-USD market analysis, we discussed a macro pattern forming, called a “symmetrical triangle. ” A symmetrical triangle (shown in red) is a directionally agnostic consolidation pattern.
Bitmain — the largest and most established manufacturer of cryptocurrency mining chips — is considering an IPO, or initial public offering. This could potentially open the company’s books to the world and allow the stock market to assign the company real-time value.
As of January 28, 2025, NEXO price stood at $1. 46, marking a 2. 5% increase within the last 24 hours. The token has shown a 5. 7% increase over the last 7 days and an impressive 67. 5% over the past year, indicating a modest bullish trend.
The cryptocurrency market continues to evolve with projects capturing attention for their innovation and community-driven growth. iDEGEN, an AI-powered crypto project, and Pudgy Penguins, a popular NFT brand, have emerged as notable contenders.
The cryptocurrency world was rocked by the unexpected resignation of Shytoshi Kusama, the prominent figurehead behind Shiba Inu. Under Kusama’s guidance, Shiba Inu evolved from a meme coin into a multifaceted ecosystem, but his departure has left the market grappling with uncertainty.
Optimism is one of the altcoins to witness a sharp decline amid a broader dip in the cryptocurrency market. OP price fell more than 16% to test lowest levels since dipping to $1.17 in August. Why is Optimism’s price down today? Data shows the global crypto market cap lost nearly 8% in 24 hours, with […]
The European Central Bank (ECB) has highlighted the need for a digital euro to address competition from dollar-backed stablecoins promoted by US President Donald Trump. ECB board member Piero Cipollone underscored this point during a conference in Frankfurt, as reported by Reuters.
US President Donald Trump addressed the World Economic Forum in Davos, Switzerland, on Thursday, marking his first appearance at the event since his inauguration. During his live-streamed remarks, Trump emphasized his administration’s “America-first” stance on emerging technologies, including cryptocurrency.
The financial industry faces mounting scrutiny as Citigroup, the third-largest bank in the US, confronts a legal challenge over its handling of online fraud cases. A federal judge in Manhattan ruled on Tuesday that Citigroup’s attempt to dismiss a lawsuit filed by New York Attorney General Letitia James has been rejected. The case underscores rising […]
