Ethereum extended its decline below the $140 support versus the US Dollar, while bitcoin dived below $8,000. ETH bulls must protect the $135 support to start a decent recovery.
Ether price failed to recover and declined further below $140 against the US Dollar.
The price is currently approaching the main $135 support and pivot area.
There is a new connecting bearish trend line forming with resistance near $138 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could decline heavily if it fails to stay above the $135 and $132 support levels.
Ethereum Price Turns Red
Recently, Ethereum started a downside correction below the $142 support against the US Dollar. However, it seems like there are bearish signs emerging after ETH failed to stay above the $140 support.
Similarly, bitcoin is gaining bearish momentum and now trading well below $8,000. Ripple price is also diving and it is now at a risk of a break below the $0.2000 support area.
The recent decline in Ethereum took its price towards the $135 support area. The price also settled below the $140 level and the 100 hourly simple moving average. A low is formed near $135 and the price is currently consolidating losses.
An initial resistance is near the $138 level. Besides, the 23.6% Fib retracement level of the recent slide from the $148 high to $135 low is also near $138.
More importantly, there is a new connecting bearish trend line forming with resistance near $138 on the hourly chart of ETH/USD. To start a decent recovery, Ethereum must surpass the trend line, $140, and the 100 hourly SMA.
The next resistance could be near the $142 level. It is close to the 50% Fib retracement level of the recent slide from the $148 high to $135 low. Therefore, a successful close above the $142 level might start a new uptrend and the price could continue higher towards $148 and $150.
What If ETH Fails to Stay Above $135?
On the downside, the $135 area is a crucial support for ETH. Therefore, a bearish breakdown below the $135 support could start a strong downtrend below $132 and $130 in the near term.
Ethereum Price
Looking at the chart, Ethereum price is approaching the main $135 support. It might attempt a decent recovery above $142 and $145. If not, it could dive further and revisit the $125 zone.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is not showing any positive signs.
Hourly RSI – The RSI for ETH/USD is now below the 50 level, with a bearish angle.
Major Support Level – $135
Major Resistance Level – $142 The post appeared first on NewsBTC. origin »
Bitcoin pressed higher on Wednesday after finding reliable support at $10,500. The upside move appeared as the US dollar index broke below its classic trendline support that originated back in 2011.
On March 12, the BTC price broke down below a significant support area found at $0. 15. After nearly a week of consolidating below support, it was finally successful in reclaiming it on March 19.
BTC/USD Ideally, if the trend is strong, we want to see the first support line holding, which in this case was $7,750. As Bitcoin has broken below this support, it shows that the sellers are overpowering the buyers.
Bitcoin broke below its key support at $7850 yesterday and experienced an even further drop. Price action is currently trading around the $7550 mark with the 100EMA acting as some support. Volume has been dropping off which shows the market could be taking this price point seriously.
Key Highlights ADA price is under pressure as it moved below the $0. 1550 support area against the US Dollar (tethered). There is a major bearish trend line in place with resistance at $0. 1420 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
At press time, BTC is changing hands at $7,536 on Bitfinex, down 6.9 percent on the day, a figure that also finds the price breaking a key support level at $7,800. The world’s largest cryptocurrency by market capitalization has been largely confined to a narrow price range of $7,673–$7,800, since it broke $8,000 yesterday. However, mounting sell
Key Highlights Ripple price extended slides and traded below the $0. 4300 support level against the US dollar. There is a new connecting bearish trend line formed with resistance near $0. 4325 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights ETH price extended declines and broke the $440 and $426 support levels against the US Dollar. There are two key bearish trend lines formed with resistance at $429 and $442 on the hourly chart of ETH/USD (data feed via Kraken).
Bitcoin Price Key Highlights Bitcoin price broke below its short-term triangle consolidation and rising channel to pave the way for a larger pullback. The Fibonacci retracement tool shows the potential support levels where buyers could be waiting.
Key Points Bitcoin cash price tumbled sharply and broke the $800 support area against the US Dollar. There are two bearish trend lines formed with resistance at $770 and $810 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Bitcoin broke below a short-term support level in the early part of the US trading session. The vast majority of altcoins are also in the red, as traders await HitBTC to come back online.
Tron is having its second consecutive large drop today which is in line with the overall cryptocurrency market experiencing large losses across the board. Many cryptos have been recording losses in the double digits over the past 24 hours.
Bitcoin has made the return back under the $8000 point and is trading near its key support level of $7850. It has tested this level multiple times over the past few days making it more likely to break through on every test.
ETH/USD Medium-term Trend: Bearish Resistance Levels: $470, $480, $490 Support Levels: $450, $440, $430 Yesterday, July 30, the price of Ethereum was still in the range bound zone. The ETH price is below the 12-day EMA and the 26-day EMA indicating that price is falling.
Litecoin price failed to recover and declined below $82. 50 against the US Dollar. LTC/USD must stay above the $80. 00 support to avoid further slides. Key Talking Points Litecoin price traded further lower and broke a key support at $82.
Key Highlights ETH price struggled to move higher and declined below the $458 support against the US Dollar. There are two bearish trend lines formed with resistance at $457 and $468 on the hourly chart of ETH/USD (data feed via Kraken).
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Key Highlights ADA price declined further and traded below the $0. 1620 support against the US Dollar (tethered). There is a crucial bearish trend line formed with resistance at $0. 1680 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
EOS price declined below $8. 50 recently against the US Dollar. EOS/USD is approaching a key break either above $8. 50 or below $8. 00. Key Talking Points EOS price is placed nicely above the $7.
1-Hour Chart Bitcoin 00 remains above the ascending trendline and is currently trading within a tight $200 dollar range along the $8,225 support which is also slightly above the 100-day MA. At the same time, the 50 MA is also in the process of crossing above the 100-day MA. If BTC falls below the bullish
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Key Points Bitcoin price declined sharply and broke the $8,060 support level against the US Dollar. There is a key bearish trend line formed with resistance near $8,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Highlights ADA price declined recently and traded near a key support at $0. 1600 against the US Dollar (tethered). There is a major bearish trend line in place with resistance at $0. 1720 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
Key Highlights Ripple price failed to break an important resistance at $0. 4675 and declined against the US dollar. There was a break below a connecting bullish trend line with support at $0. 4620 on the hourly chart of the XRP/USD pair (data source from Kraken).
Litecoin price declined recently due to bitcoin’s slide below $8,000 against the US Dollar. LTC/USD broke the $84. 50 support to move into a short-term bearish zone. Key Talking Points Litecoin price declined below the $85.
Key Highlights ETH price declined recently and broke a key support near $468 against the US Dollar. Yesterday’s highlighted important bullish trend line was breached with support at $476 on the hourly chart of ETH/USD (data feed via Kraken).
Key Points Bitcoin cash price failed to hold gains and declined below the $825 support against the US Dollar. Yesterday’s highlighted important bullish trend line was breached with support at $840 on the hourly chart of the BCH/USD pair (data feed from Kraken).
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Key Highlights Ripple price struggled to break the $0. 4650 resistance and declined below $0. 4500 against the US dollar. There was a break below an ascending channel with support at $0. 4550 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights ETH price failed to move above the $468-469 resistance zone and declined against the US Dollar. There was a break below a major bullish trend line with support at $460 on the hourly chart of ETH/USD (data feed via Kraken).
Key Points Bitcoin cash price traded towards the $840 level where it faced sellers against the US Dollar. There was a break below an ascending channel with support at $800 on the hourly chart of the BCH/USD pair (data feed from Kraken).
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Over the weekend, Bitcoin prices remained pretty stable with buyers jumping at $7,100 rejecting depreciation below $7,000. In any case, what we have is a nice bullish engulfing candlestick bouncing off a key support line at $6,000 following last week’s rapid gains.
Key Points Bitcoin price gained momentum and settled above $7,200 against the US Dollar. There is a major bullish trend line forming with support at $7,000 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
Key Points Bitcoin price is consolidating below a key resistance at $7,555 against the US Dollar. There is a connecting bullish trend line forming with support at $7,390 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Bitcoin previously broke below a long-term triangle and its on its way to retest the broken support.
The post Bitcoin (BTC) Price Analysis: Revisiting Longer-Term Ceilings appeared first on Ethereum World News.
Key Points Bitcoin price started a downward correction after trading as high as $7,605 against the US Dollar. There was a break below a key ascending channel with support at $7,420 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Highlights Ripple price made a nice upside move before facing sellers near $0. 5245 against the US dollar. There was a break below a crucial bullish trend line with support at $0. 4950 on the hourly chart of the XRP/USD pair (data source from Kraken).
Key Highlights ETH price started a major downside correction below the $500 level against the US Dollar. This week’s highlighted key bullish trend line was breached with support at $485 on the hourly chart of ETH/USD (data feed via Kraken).
Key Points Bitcoin cash price started a downside correction and declined below $840 against the US Dollar. This week’s highlighted major bullish trend line was breached with support near $830 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Bitcoin price is preparing for the next move above $6,300 against the US Dollar. Bitcoin Price Resistances This past week, there was a sharp downward move from well above $6,750 in bitcoin price against the US Dollar.
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The
Bitcoin movement has brought with it a tidal wave of activity in cryptocurrency
investments and trading. As a result, crypto market capitalization soared to an
all-time high of around $820 billion in early January of 2018.
Bitcoin (BTC) is at the end of the line. From this point onwards, it will have to break out of the triangle, be it to the upside or to the downside. The most likely scenario, considering all technical as well as fundamental indicators is that Bitcoin (BTC) will break out to the upside.
EOS/USD Medium-term Trend: Bearish Resistance levels: $ 7. 5, $8. 0, $8. 5 Support levels: $6. 5, $6. 0, $5. 5 Yesterday, July 12, the price of EOS was in a downward trend. The cryptocurrency fell and closed at a price of $6.
Bitcoin has tumbled below the middle of its range on the 4-hour chart and is setting its sights on the floor.
The post Bitcoin (BTC) Price Analysis: Eyes on $5,800 Support appeared first on Ethereum World News.
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