More than $80 billion have been injected in the cryptocurrency market over the past month. The substantial inflow of capital allowed most digital assets to recover the losses incurred during the Mar. 12 crash. However, a well-known technical index among institutional investors suggests that a retracement is underway.
Bitcoin current chart thoughts. Have had a low conviction long bias from mid 6000's pic.twitter.com/KtNlJ4GFNf
— Thomas Thornton (@TommyThornton) April 23, 2020
A Sell Signal Across All Major Cryptocurrencies: Bitcoin, Ethereum, and XRP
The TD sequential indicator is currently presenting a sell signal across the 12-hour chart of the top three cryptocurrency by market cap, Bitcoin, Ethereum, and XRP. The bearish formations developed in the form of green nine candlesticks.
A further spike in selling pressure could validate these signals potentially triggering a one to four candlesticks correction that would likely be seen throughout the entire market before the uptrend resumes.
The TD Sequential Index Presents A Sell Signal for Bitcoin, Ethereum, and XRP. (Source: TradingView)
Bitcoin
If this were to happen, a downward impulse around the current price levels may see Bitcoin dropping to its 50 or 100-twelve-hour moving average. These support barriers are hovering around $7,100 and $6,700, respectively.
Bouncing off this demand zone could propel the flagship cryptocurrency towards higher highs.
Bitcoin Could Drop to Its 50-MA. (Source: TradingView)
Ethereum
Along the same lines as the top cryptocurrency, an increase in supply might have the strength to push Ethereum down to the 23.6% Fibonacci retracement level. This hurdle sits at $174 and falling to it will represent an 11% pull back from the current price levels.
If the 23.6% Fibonacci retracement level proves to be an area of high interest for market participants to re-enter their long positions, then Ether may be able to rebound to face the next resistance wall at $230.
Ethereum May Find Support Around the 23.6% Fib Level. (Source: TradingView)
XRP
Finally, Ripple’s cryptocurrency, XRP, appears to be consolidating within different support and resistance levels since the beginning of the month. By taking these price points into consideration, it is reasonable to assume that a confirmation of the sell signal provided by the TD sequential indicator would likely see this altcoin plummeting to the $0.19 or $0.18 support zone.
An increase in demand around this area could send the cross-border remittances token back to resistance around $0.20.
XRP Sits Between Support and Resistance. (Source: TradingView)
Overall Cryptocurrency Market Sentiment
The Cryptocurrency Fear and Greed Index noticed a shift in the sentiment among investors. As optimism grows about the future, fewer market participants are concerned over another significant downturn. Consequently, this fundamental index moved from a value of 21 (extreme fear) to a score of 28 (fear).
Due to the unpredictability of the market and the positivism seen among investors, every chart pattern and index must be taken with a grain of salt. Therefore, an increase in the buying pressure behind the cryptocurrencies previously mentioned could put in jeopardy the bearish outlook.
Under such circumstances, the recent highs made by each of these cryptocurrencies are key levels to pay attention to. A 12-hour candlestick close above these highs would likely ignite a stage of FOMO (fear-of-missing-out) among investors. Those who rush to buy may help push prices to further up.
Featured Image from Unsplash origin »
Several altcoins posted impressive gains on Sunday, despite the global cryptocurrency market remaining slightly bearish. The total cryptocurrency market capitalization is currently at around $2. 7 trillion.
The cryptocurrency market has experienced significant turmoil recently, leading to widespread liquidations and price drops across major coins. However, amidst this volatility, Poodlana, a new cryptocurrency project, has continued to attract substantial investment, surpassing $4.
Amid the ongoing bloodbath in the cryptocurrency market, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has not been spared. Over the past week, ETH has experienced a significant 9% price decline, bringing it down to the $3,130 level.
The bull run and altcoin season are on the horizon, with market enthusiasts eagerly awaiting the explosion of opportunities. The current cryptocurrency landscape remains calm, teetering on the edge of a massive upswing.
Last week, volatility in the cryptocurrency market resulted in a staggering loss of $100 billion. This decline was reflected in the global cryptocurrency market cap, which decreased by 4% to $2. 36 trillion at the time of writing.
A cryptocurrency analyst, who accurately foresaw the market’s bottom in 2018, is now focusing on Solana, foreseeing a price bottom for the cryptocurrency and identifying its next target after reaching it.
With Bitcoin’s next halving event on the horizon, analysts are making bold predictions. History hints at a potential price boom that could send shockwaves through the market. This possibility stirs discussions on what might lie ahead for the world’s leading cryptocurrency.
Cryptocurrency trading has seen an astronomical surge in recent times, with more individuals joining the market daily. For those navigating these waters, looking for the right cryptocurrency for beginners can be a challenging endeavor.
As a seasoned cryptocurrency analyst, it’s clear that the international financial system is at a critical juncture. The geopolitical tensions between the U. S. and China, the rise of CBDCs, and the need for regulation in the crypto market are all factors that could significantly impact the global economy and the crypto market.
MiCA rules to govern the European crypto industry starting with July 2024 The market may move ahead of the deadline Europe becomes a leader in cryptocurrency market regulation The cryptocurrency market had a strong comeback in 2023.
While Bitcoin is the number one cryptocurrency in terms of market cap, Ethereum is not so far behind, with its market capitalization of over $177 billion, making it the second leading form of cryptocurrency.
Coinspeaker
How Coins Like Rocketize, Tron and Tezos Are Impacting the Cryptocurrency Market
With the rise in popularity of crypto, the cryptocurrency market has seen massive adoption by investors and businesses.
Despite the recent lacklustre performance of the cryptocurrency market, some assets have shown signs of strength in bouncing back from their lows and establishing bullish momentum. Meanwhile, the global cryptocurrency market cap has increased by 1.30% over the last 24…
The cryptocurrency market has gained in popularity in the last few years, with more and more users reaping the benefits of crypto trading. El Salvador, for example, declared Bitcoin its legal currency in 2021, which only demonstrates how huge this market has become.
As the cryptocurrency market widens and more industry players look to improve on existing use cases, the cryptoverse may be due for a shift. As a result, we’re witnessing a rise in an ecosystem where players enjoy the full benefits of the blockchain and crypto world, from staking for high rewards to unlocking higher yields […]
Cryptocurrency markets continue to trade sideways, with Bitcoin holding the $21k level while Ethereum’s price stays above $1. 1k. The global cryptocurrency market is at $941 billion, slowly approaching the $1 trillion mark again.
Investors’ confidence has remained low as a result of the Federal Reserve’s tapering decision and the recent performance of the cryptocurrency market. Several cryptocurrencies, however, deserve community attention in this coming year.
CELO/USD is trading this Wednesday very close to $3 support, and probably it is not the best moment to buy this cryptocurrency. The cryptocurrency market remains under pressure, and if Bitcoin falls below the $45000 support, it would add further pressure to the whole cryptocurrency market.
It is no wonder that with more large-scale cryptocurrency adoption, things are moving more expeditious in the blockchain world. And it became very obvious that the cryptocurrency exchange market is evolving rapidly, which led to the demand for new technologies being implemented.
The cryptocurrency industry’s growth has drawn a lot of attention, especially in 2021. Commentators in government at the international and national levels have had to express their stance on the industry and in particular, Bitcoin – which is the largest cryptocurrency by market valuation as well as the pioneer cryptocurrency.
The cryptocurrency market is on the rebound. This year has been full of important development for digital currencies and the global infrastructure supporting this market....
Cryptocurrency exchanges are online platforms where you can trade (buy and sell) between cryptocurrencies based on their actual market price. In order to come up with a valuation for a cryptocurrency, investors and market participants determine the demand and supply.
Bitcoin has been sluggish for weeks and trapped between $30000-$40000. But what we should keep in mind is that volatility is the intrinsic feature of the cryptocurrency market. Though it is changeable, we still can take a peek at the price trajectory from some signals.
The recent cryptocurrency crashes have wiped out several billion dollars from the entire cryptocurrency market. The total cryptocurrency market cap decreased by 8% in the past week dropped from $1.
Bitcoin took a massive nosedive on Wednesday, dropping as much as 24% within hours. The world’s most valuable cryptocurrency has now shed an astonishing $500 billion in aggregate market value.
A new project has long started exploring the use cases of AI for trading and is set on a mission to become a pioneer in bringing them to the cryptocurrency market. Today, we will take a closer look at how trading has evolved over the years and where the cryptocurrency industry stands less than aRead More
The cryptocurrency industry has been on an upward trend in recent years. Success in the cryptocurrency largely depends on the ability to identify the right market trends which is in turn determined by the type of cryptocurrency exchange you select.
Along with the price action, it was another exciting week in the cryptocurrency space on other levels. Read more in our roundup! Bitcoin bounces back after nearly dropping below $30,000 Earlier in the week, many expected the beginning of a widespread cryptocurrency bear market and a market top.
Bitcoin and the entire cryptocurrency market have been caught within a firm uptrend as of late, but it has transformed into consolidation throughout the past couple of days BTC and its smaller counterparts are all trading sideways, with bears trying to gain an edge over bulls as they slowly push the cryptocurrency lower Where the market trends in the near-term should depend largely, if not entirely, on whether or not BTC can surmount $40,000 once […]
The cryptocurrency market is booming, and we cannot ignore the fact that there are over 850 different alternative cryptocurrencies in the market today. Every day, a new crypto-coin is being introduced in this space and it is difficult to predict which among them could actually leave a good impression in the coming future.
Ethereum and the entire cryptocurrency market have been facing some immense turbulence throughout the past few days and weeks The selling pressure seen by the cryptocurrency within the upper-$600 region has been quite intense, and may cause it to face continued weakness One trader is now noting that where the market trends next will depend mostly, or entirely, on Bitcoin He notes note that he is looking for ETH to see a strong correction over […]
Total cryptocurrency market capitalization exceeded the $600 billion mark this week, dragged by an incredible bull run from Bitcoin (BTC). Similar to previous rallies, the entire cryptocurrency market followed higher with multiple digital assets hitting multi-year highs.
The market capitalization of a cryptocurrency asset may not be the most accurate metric for the calculation of the value of a digital currency, but its importance in serving as a tool for investors, to aid them in making more informed investment decisions about their cryptocurrency of interest cannot be overemphasized. These metrics which are […]
Over $50 billion in cryptocurrency flowed out of China over the past 12 months amid trade wars, a new study finds. East Asia is the world’s largest cryptocurrency market; its crypto trading volume is driven by “a robust professional market” as well as an “extremely active” retail market.
You can’t teach an old dog new tricks, but apparently, listing an older cryptocurrency on a new exchange can bring back memories of the cryptocurrency bull market that once was. An altcoin being listed on Binance has resulted in nearly a 100% intraday pump – something that hasn’t been seen since crypto prices and exuberance […]
It’s the textbook example of a market bloodbath — there’s no way to sugarcoat it. Cryptocurrency traders who didn’t get a chance to react had the worst of it. Almost $100 billion was wiped from the market cap over the past 24 hours, with Bitcoin closing 38% in the red and some major altcoins lost […]
The post Cryptocurrency News Roundup for March 12, 2020 appeared first on BeInCrypto.
The eToro analyst believes that the digital yuan, which the People’s Bank of China plans to issue, is unlikely to affect the cryptocurrency market in the long term. The project launch is expected in the fall of 2020.
The cryptocurrency market has started 2020 with a huge bang, expanding by an impressive 23% within the first two weeks of the year. The overall market capitalization of the cryptocurrency market – aThe post Cryptocurrency Prices Rally Towards Double Digit Gains in 2020 appeared first on AMBCrypto.
Although Bitcoin (BTC) managed to recover most of its losses over the weekend after tumbling as low as $78,258 on February 28, the premier cryptocurrency has created a massive new Chicago Mercantile Exchange (CME) gap, raising concerns that the digital asset may witness another pullback to the low $80,000 level. Bitcoin Not Out Of The […]
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.
