The crypto market has found itself in a steep recovery over the past 50 days. Ethereum, especially, has strongly surged higher off the December lows, rallying from $120 to $220, which is where the second-largest cryptocurrency sits as of the time of this article’s writing.
According to a prominent trader, this recovery in the price of ETH has allowed a major technical indicator to flip bullish, suggesting a long-term uptrend that will take Ethereum hundreds of percent higher is starting.
Related Reading: Bitcoin Funding Rate Hits 0.12% on BitMEX: BTC Historically Fell 7% Afterwards
Massive Technical Signal Backs Ethereum Bulls
As observed in a recent tweet from well-followed cryptocurrency trader Galaxy, the Moving Average Convergence Divergence (MACD) for Ethereum’s one-month chart has flipped from a bear to bull trend for the first time in two years, for the first time since October 2017.
More specifically, after nearly two years of a downtrend, Ethereum’s monthly MACD in January flipped green, then followed that up by printing another green candle for the ongoing month.
With the MACD being a momentum indicator that tracks an asset’s trends, the indicator saying a bull trend is forming on the one-month chart is extremely positive for Ethereum bulls.
“Wow bro look at $ETH pumping”
Lol stfu and zoom out. It’s just starting. pic.twitter.com/BazN3ZJsCd
— Galaxy (@galaxyBTC) February 7, 2020
Indeed, the last time this indicator was seen, the cryptocurrency rallied from $300 to a high of $1,440 — a surge of just under 400% — in under six months’ time.
If Ethereum trends as it did the last time its monthly MACD formed a bull trend, the price of the asset will hit $1,056 by March or April.
Unfortunately, this exact scenario is unlikely to play out. But, Galaxy does have some more theories about how Ethereum’s price will trend in the coming months.
What Will Happen This Time?
Per previous reports from NewsBTC, Galaxy indicated in a previous analysis that Ethereum may be on the verge of surging towards $850 — 284% higher than current prices.
As crazy as this sounds, he noted in the analysis, published on January 21st, that Ethereum’s one-week Relative Strength Index is on the verge of breaking key resistance (it already has), a key downtrend that has constrained prices for the past two years (it already has), and a horizontal resistance above $322 (still pending).
$ETH is weeks away from breaking out its 2-year downtrend.
Possible Bull signal incoming next week.
February is take-off month. pic.twitter.com/G7MUzIA03Y
— Galaxy (@galaxyBTC) January 21, 2020
This confluence, he claimed, could take the price of Ethereum to $850 by July or August.
With there being large developments in the decentralized finance ecosystem and moves being made to convert the blockchain to its 2.0 iteration, such a price point may not be as far away as it seems.
Featured Image from Shutterstock The post appeared first on NewsBTC. origin »
Bitcoin was trending higher through the early European session on Thursday as a very rare bull signal flashed for the first time in 10 months. Dubbed as Ichimoku Cloud, the technical indicator turned green to identify a long-term upside trend shortly after bitcoin surged towards $9,769.
Ever since Bitcoin investors got a taste of parabolic price action in early-2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more. Related Reading: Andrew Yang Just Mentioned Crypto, Again.
Welcome back bulls. Over the past few hours, Bitcoin (BTC) has begun to surge higher again per TradingView, with buyers finally stepping in after last week’s 11% decline. Since hitting $8,200 late last week, the price of the leading cryptocurrency has exploded higher, surging to just shy of $9,400 minutes ago as of the time... The post appeared first on NewsBTC.
Bitcoin’s potential rise to $10,000 against the ongoing Coronavirus frenzy may have been limited by one of its rival cryptocurrency projects. Cardano, or ADA, surged by close to 10 percent against the benchmark cryptocurrency on Tuesday, registering a fresh top near 588 sats.
After falling as low as $8,200 late last week, Bitcoin (BTC) has recently started to mount an extremely strong recovery, bouncing after the 11% correction seen after a 43% rally. Just minutes ago as of the time of writing this article, the leading cryptocurrency hit $8,950, falling just shy of the key $9,000 level as... The post appeared first on NewsBTC.
Since Bitcoin investors got a taste of parabolic price action in early-2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more. According to a Google Trends analysis, another parabolic rally is about to form again in the cryptocurrency market again.
Bitcoin is enjoying fresh gains at the start of 2020 as investors continue to speculate on its potential adoption against a series of geopolitical and macroeconomic letdowns. The benchmark cryptocurrency on Sunday surged beyond $9,000 for the first time in three months, up by 28.
Over the past two hours, Bitcoin (BTC) has started to break out of a consolidation pattern that has trapped the price of the cryptocurrency in the high-$8,000s for some two days. In fact, just minutes ago as of the time of writing this article, the leading crypto asset tapped $9,120, surging higher as the weekly... The post appeared first on NewsBTC.
Yesterday, on seeming news that Craig S. Wright, a purported Bitcoin creator, had access to an entire stash of the cryptocurrency, the Satoshi Vision variant of Bitcoin (BSV) rallied by over 145%. It surged from well under $200 to as high as $440 in 24 hours’ time.
After seeing a small retracement (as predicted in one of NewBTC’s Bitcoin analysis articles), BTC continued to rocket higher on Tuesday. As of the time of writing this, the leading cryptocurrency has tapped $8,100 for the first time in literal weeks — in six weeks, to be exact — managing to surmount that level on... The post appeared first on NewsBTC.
In a sudden move, the Bitcoin price jumped to surpass $8,000 on Bitstamp. From the low of $6,850 on January 3rd, we have surged nearly 17%. At the time of writing, BTC/USD has been trading at $7,865 with 24 hours gains of 4.
Due to the fact that it is an illiquid asset, Bitcoin’s day-to-day price movements are unpredictable. Just think back to late-October of last year, when the price of the leading cryptocurrency suddenly surged by 42 percent in a day’s time, or earlier this week, when BTC tanked below $7,000 to only see a surprise recovery […]
The post This simple analysis suggests the Bitcoin price could increase 100% in 2020 appeared first on CryptoSlate.
Bitcoin isn’t in the Top 5 The leading cryptocurrency Bitcoin surged to $13,900 level just at the mid of the 2019 a level that was last seen in early January in 2018 when BTC was in a downtrend. On the uptrend, we see it in early December in 2017 which was the first time, we […]
Most of the liquidations that occurred on BitMEX on December 18 were short contracts. It shows that over-leveraged shorts were squeezed out, pushing the bitcoin price up so quick in a short time frame.
Bloomberg called Binance Coin the best-performing cryptocurrency of 2019 but it nevertheless remains vulnerable to traders’ intrinsic greed. The native token of one of the world’s largest crypto exchanges, Binance, has surged by more than 146 percent as of this time of writing.
10-year Treasury yield approaches 2% for the first time since July. The entire U. S. yield curve jumps double digits on Thursday. Stocks return to record highs on U. S. -China trade deal optimism.
VeChain (VET) approaches $0. 005 on Tuesday for the first time since Aug. 12. VeChain co-founder and CEO Sunny Lu will deliver a keynote address at The Capital, an upcoming industry conference hosted by CoinMarketCap.
Bitcoin and Ethereum are consolidating within a narrow trading range. Bitcoin may have resumed its macro-uptrend, said a renowned technical analyst. XRP prepares for a major event that could trigger an increase in demand.
Decred (DCR) and Stellar (XLM) were moving higher on Friday as traders shifted focus from sideways-biased bitcoin. The thirty fifth-largest blockchain project by market valuation, Decred, today surged by as much as 17.
Last week Bitcoin price surged 42%, the third-largest surge in BTC’s history. However, today, the price took a drop below $9k to $8,985 on Bitstamp. At the time of writing, the leading cryptocurrency has been trading at $9,145, down 1.
Peter Schiff has refuted the notion that the Chinese government endorsement of blockchain is behind Bitcoin’s recent price rally. The price of the leading digital asset surged on Friday to a high above $10,000 on some exchanges before returning to around $9,400 at the time of writing.
Bitcoin has had one of its best performing weekends of the year. The only other time it has moved as much in such a short period of time was in late June when BTC surged from $11k to its 2019 peak.
For the very first time, Binance Futures’ trading volume exploded to a high of $1. 14 billion with 165k BTC traded, following the drastic upward momentum gained by Bitcoin after it surged from $7,400 to just past the $10,000 mark on the charts.
Bitcoin (BTC) has seen an absolute whirlwind 24 hours. Over the course of a single day’s time, $400 million worth of BitMEX positions were liquidated, Bakkt volume surged to fresh all-time highs, blockchain became a topic of discussion for Chinese President Xi Jinping, amongst other crazy events that managed to fall into the time span.
Bitcoin (BTC) and crypto markets have been on fire over the past twelve hours or so. A $55 billion cash injection has lifted them out of the doldrums in one of the largest pumps in recent history.
Seemingly in response to news that China has officially endorsed blockchain development, Bitcoin (BTC) surged on Friday, liquidating $150 million worth of BitMEX shorts in the process. Ouch. At its daily peak, the cryptocurrency’s price hit $8,800 — the highest it had been in over three weeks.
On Wednesday, Bitcoin price lost $700 in a few hours and today under 30 minutes, the world’s leading cryptocurrency surged about $900. From its lowest level today at $7,393, the Bitcoin price surged to as high as $8,525, seeing a jump of 15.
Wow. In the past 30 minutes, Bitcoin (BTC) bulls have absolutely made their presence known. Within a ten-minute time frame, the leading cryptocurrency surged from $7,700 to $8,500 — representing a nearly 10% gain.
The leading cryptocurrency started the day above $8,000 only to fall to $7,293, the lowest level seen on Bitstamp today, a level last seen in May. Buy the fucking dip — Majin (@majinsayan) October 23, 2019 However, soon after the price surged back.
XRP surged more than 40 percent over the last few weeks as Ripple prepares to host its annual conference, Swell. As the date approaches, the market anticipates a significant price increase based on the impact this event had in previous years.
XRP is seeing a lot of greens in October after dropping down to $0. 235 at the end of September. In the past week, the third largest cryptocurrency surged a good 9 percent. At the time of writing, it has been trading at $0.
Gold outperformed Bitcoin on Wednesday as an impeachment inquiry into US President Donald Trump triggered demand for safe-haven assets. The yellow metal came near its three-week peak, with its spot trading at $1,530.
Bitcoin price dropped hard today, falling to $9,370, the lowest point on Sept. 24, so far. We started the day at $9,780 but soon dropped down to $9,500 and then below $9,400. At the time of writing, BTC has been trading at $9,530 with 24 hours loss of 3.44%. Trading volume, in response, surged to […]
This week has been a good one for altcoins as they surged in a long time while Bitcoin remained flat around $10,000. If we take a look at the past 7 days performance of cryptocurrency market, while Bitcoin is in the green by just over a half a percent, top altcoins, Ethereum and XRP are […]
The latest cryptocurrency market swing prompted two prominent coins to breach significant resistance levels. As the cryptocurrencies extended gains above key levels, Ethereum surged over its $200-level and XRP also broke the $0.
Cardano has in the last 24 hours come out as the highest gainer in the top 20 cryptocurrencies. This digital asset has surged by more than 5% at the time of press, seeing it climb above a critical resistance of $0.
Coinspeaker Bakkt Is to Keep Pushing Bitcoin Even FurtherCrypto sector has been waiting for the launch of Bitcoin futures trading platform Bakkt for a long time now. This should happen finally at September 23.
The market experienced a surge in the number of transactions occurring between unknown wallets, as Bitcoin maintained its position above the $10,000 mark. The king coin was priced $10,413. 87 at press time with a jump of 3.
When US-Sino trade wars begun gaining steam, bitcoin surged as equities like S&P, Nasdaq and Dow Jones plummeted. Unfortunately, as fears of an economic recession heighten, bitcoin and other cryptocurrencies have started feeling the heat.
It has been an interesting past week for Bitcoin as the price surged past $12,000 mark but at press time, it was hovering again in the lower range of $11,000 after witnessing a 6 percent fall on 10 August.
With Bitcoin surging past the $12,000 mark, before falling down to $11,632. 11 at press time, the market saw a number of transactions happening between unknown wallets. While the crypto-market continued to tussle with sideways movement, the flow of money between users and wallets surged in the market.
It is hard to catch your breath when you are a cryptocurrency trader. It’s even harder when you need to keep track of the largest virtual asset when it sprints toward the moon after under-performing for weeks.
Bitcoin Spikes 4% in Minutes Out of nowhere, Bitcoin (BTC) has surged higher over the past couple of hours, catching many traders with their pants down as normal. As of the time of writing this. . .
Bitcoin is now more popular than stocks. It is no surprise that the cryptocurrency industry is sensitive to public sentiment. Hence, how and what the public perception of the industry is, matters.
After the strong rally exhibited by Bitcoin, the world’s largest cryptocurrency was recording some major devaluation. Bitcoin surged to $12,764 over the last 24 hours after a massive hike at 01:00 UTC on 9th July.
The prices of most cryptocurrencies followed the lead of Bitcoin, however, XRP surged on July 7. Within the past hour, the third largest coin surged by over 4% in an hour. XRP had been seeing a sideways movement for a long time, this sudden surge in its price motivated the community and provided the coin […]
The post XRP surges by over 4% in an hour appeared first on AMBCrypto.
The market has been following Bitcoin’s trend for a long time. However, one coin that is not playing by Bitcoin’s rules is Chainlink [LINK]. A few days back, LINK surged by a massive 320% on the back of Google’s announcement of integrating it into its cloud-based services.
All eyes have been on Bitcoin since its peak on Thursday. Many have been expecting a wider correction which so far has failed to materialize. As BTC consolidates today, some of its siblings have started taking off and Litecoin is leading the pack during weekend trading.
Crypto. com Chain has a neutral short-term trading outlook The four-hour time frame continues to show a valid bearish pattern The daily time frame shows that the CRO / USD pair remains trapped within a descending price channel Fundamental Analysis Crypto.
Ethereum (ETH) hit a new yearly low of $2,076 earlier today, further weakening sentiment around the second-largest cryptocurrency by market cap. If Ethereum falls below $2,000, it could trigger additional losses for investors.
The crypto market trended lower last week as US tariffs rocked the market, causing investors to flee to safe-haven assets like Gold. Crypto prices which recovered slightly on Monday and Tuesday continued trending downward as uncertainty looms.
Bitcoin fell 4. 72% over the weekend and another 3. 50% during Monday’s Asian session as tensions driven by Trump’s tariffs have investors derisking their positions. Over the weekend, China responded to Trump’s tariffs by indicating interest in imposing tariffs on US goods, while Canada imposed a 25% tariff on CA$155 billion worth of US goods.
2025 has not started on a strong note for Ethereum (ETH), as the second-largest digital asset by market cap continues to trade below its yearly open. Recent on-chain movements also suggest that crypto whales might be losing confidence in ETH’s potential to deliver outsized returns.
The crypto market trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data The Fed expressed caution around inflation, especially as President-elect Donald Trump’s policies will kick in after his inauguration on January 20 Meanwhile, spot crypto exchange-traded funds (ETFs) logged outflows from Wednesday, January 8 Bitcoin […]
The post Weekly price analysis: prices decline on risk-off sentiments appeared first on CoinJournal.
Cryptos trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data. The Fed expressed caution around inflation, especially as Trump’s policies will kick in after his inauguration on Jan.
In the past week, Ethereum (ETH) has dropped 9. 3%, falling from $3,630 on January 3 to $3,235 at the time of writing. While ETH is striving to defend the psychologically significant support level at $3,000, some crypto analysts remain confident that the digital asset’s long-term price trajectory is bullish.
