TRON price is struggling to gain bullish momentum above $0.0320 against the US Dollar, similar to bitcoin. TRX price could soon retest the main $0.0265 support zone.
Recently, there was another attempt by TRON price to clear the $0.0325 and $0.0330 resistance levels against the US Dollar. However, TRX price failed to clear the $0.0330 level, formed a high near $0.0327, and recently started a fresh decline.
There was a break below the $0.0310 support level. The bears were able to push the price below the 50% Fib retracement level of the upward move from the $0.0262 swing low to $0.0327 high.
There was also a break below a connecting bullish trend line with support near $0.0302 on the 4-hours chart. The price is now trading well below $0.0300 and the 55 simple moving average (4-hours). It is testing the 61.8% Fib retracement level of the upward move from the $0.0262 swing low to $0.0327 high.
If there is a downside break below the $0.0285 support zone, the price could continue to move down. The next major support is near the $0.0270 level. The main support is still near $0.0265, below which the price could decline heavily in the near term.
On the upside, an initial resistance is near the $0.0300 level and the 55 simple moving average (4-hours). The next key resistance is near the $0.0312 level. The main hurdle on the upside for the bulls is still near the $0.0325 and $0.0330 resistance levels.
To start a fresh increase, the price must clear the $0.0325 and $0.0330 resistance levels. The next major barrier for the bulls could be $0.0365.
Tron (TRX) Price
The chart indicates that TRX price is clearly struggling to stay above $0.0285. Overall, the price could revisit the $0.0280 support or even $0.0265 in the near term.
4 hours MACD – The MACD for TRX/USD is slowly gaining momentum in the bearish zone.
4 hours RSI – The RSI for TRX/USD is now below the 50 level.
Key Support Levels – $0.0285 and $0.0265.
Key Resistance Levels – $0.0300, $0.0312 and $0.0330.
The post Tron (TRX) Price Analysis: Range Moves Below Key $0.033 appeared first on Live Bitcoin News.
Bitcoin price is showing a few bearish signs below $35,000 against the US Dollar. BTC is at a risk of a sharp decline if there is no recovery above $34,000 in the near term.
In the past few days, there was a bearish wave in bitcoin price below $38,200 against the US Dollar. BTC broke the $35,000 and $34,000 support levels to move into a bearish zone.
The price even broke the $32,000 support level and settled below the 55 simple moving average (4-hours). A low was formed near $28,693 before the price started an upside correction. There was a recovery wave above $32,500 and $33,500.
However, the price struggled to clear the $35,000 resistance and it stayed below the 55 simple moving average (4-hours). A high is formed near $34,856 and the price is currently declining.
There was a break below the 50% Fib retracement level of the upward move from the $28,693 swing low to $34,856 high. Bitcoin price is now holding the $31,000 support level, but it seems to be facing many hurdles on the upside.
There are also two major bearish trend lines forming with resistance near $34,000 and $34,800 on the 4-hours chart of the BTC/USD pair. To move into a positive zone, the pair must clear the $34,000 and $35,000 resistance levels.
On the downside, the 61.8% Fib retracement level of the upward move from the $28,693 swing low to $34,856 high is at $31,000. The main support is near the $30,000 level. A daily close below $30,000 could open the doors for a larger decline.
Bitcoin Price
Looking at the chart, bitcoin price is clearly trading well below $34,000 and the 55 simple moving average (4-hours). Overall, the price could decline sharply if it fails to stay above the $30,000 support zone.
4 hours MACD – The MACD is now gaining momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI is now below the 50 level.
Key Support Levels – $31,000 and $30,000.
Key Resistance Levels – $34,000, $34,800 and $35,000.
The post Bitcoin Price Analysis: BTC Could Extend Losses Below $30K appeared first on Live Bitcoin News.
Ripple is struggling to stay above the key $0.2600 support against the US Dollar. XRP price could nosedive if there is a close below $0.2600 and $0.2550.
After struggling to clear the $0.3120 resistance, ripple’s XRP price started a fresh decline. The price declined heavily below the $0.2800 support level and it even spiked below $0.2600.
A low was formed near $0.2390 before the price started an upside correction. There was a break above the $0.2500 and $0.2550 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.3306 swing high to $0.2390 low.
However, the price seems to be facing resistance near the $0.2850 level. There is also a key bearish trend line forming with resistance near $0.2720 on the 4-hours chart of the XRP/USD pair.
Source: XRPUSD on TradingView.com
The trend line is close to the 50% Fib retracement level of the downward move from the $0.3306 swing high to $0.2390 low. XRP is now testing the $0.2600 support and it is well below the 100 simple moving average (4-hours).
If there is a downside break below the $0.2600 support level, the bears are likely to gain strength. In the stated case, there is a risk of a sharp decline towards the $0.2400 and $0.2350 levels. The price could even revisit the $0.2150 level in the near term.
If ripple stays above the $0.2600 support zone, there are chances of a fresh increase. Th first key resistance is near the trend line and $0.2750. The next major resistance is near the $0.2800 level and the 100 SMA (H4).
A successful close above the $0.2800 level could open the doors for a surge towards the $0.3000 and $0.3120 levels.
Technical Indicators
4-Hours MACD – The MACD for XRP/USD is showing negative signs in the bearish zone.
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is well below the 50 level.
Major Support Levels – $0.2600, $0.2450 and $0.2150.
Major Resistance Levels – $0.2750, $0.2800 and $0.35000.
Ethereum is facing resistance near the $1,350 level against the US Dollar. ETH price could continue to move lower towards $1,200 or $1,180 unless it settles above $1,350.
After testing the $1,250 support zone, Ethereum started a fresh increase. ETH broke the $1,300 and $1,320 resistance levels. It even broke the $1,350 level and the 100 hourly simple moving average.
However, the bulls failed to keep the price above $1,350. A high was formed near $1,375 and the price is currently declining. There was a break below the $1,350 support level. Ether is now trading well below $1,350 and the 100 hourly simple moving average.
It is testing the 50% Fib retracement level of the upward move from the $1,246 low to $1,375 high. It seems like there is a key bearish trend line forming with resistance near $1,360 on the hourly chart of ETH/USD.
Source: ETHUSD on TradingView.com
On the downside, an immediate support is near the $1,295 level. It coincides with the 61.8% Fib retracement level of the upward move from the $1,246 low to $1,375 high. The next major support is near the $1,250 level, below which ether could continue to move down towards the $1,200 support zone or even $1,180.
If Ethereum stays above the $1,295 support zone, there are chances of an upside break above the 100 hourly simple moving average. The first major resistance is near the trend line and $1,350.
A successful close above the trend line resistance and $1,350 could open the doors for a fresh increase. The next major resistance is near the $1,375 level, above which ether price will most likely climb above towards the $1,450 level. The main hurdle on the upside is still near $1,500.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently well below the 50 level.
Major Support Level – $1,295
Major Resistance Level – $1,350
Bitcoin price is stuck in a range below the $33,500 and $33,800 resistance levels against the US Dollar. BTC is likely to continue lower unless it clears the $33,800 resistance.
After a failed attempt to clear the $35,000 resistance, bitcoin price trimmed gains and traded below $33,800. BTC even broke the $32,500 level and settled below the 100 hourly simple moving average.
There was a spike below the $31,000 level, but it remained stable above $30,800. A low is formed near $30,823 and the price is currently recovering higher. It surpassed the 23.6% Fib retracement level of the downward move from the $34,915 high to $30,823 low.
Bitcoin price is currently facing resistance near $32,800 and the 100 hourly simple moving average. The 50% Fib retracement level of the downward move from the $34,915 high to $30,823 low is also near $32,800.
Source: BTCUSD on TradingView.com
At the outset, it seems like there is a short-term ascending channel or a bear flag forming with support near $31,900 on the hourly chart of the BTC/USD pair. To continue higher, the bulls need to gain strength above $32,500, $32,800 and the 100 hourly SMA.
The next strong resistance is near the $33,500 and $33,800 levels. A close above $33,800 could increase the chances of a steady rise in the coming sessions.
If bitcoin fails to clear the $32,800 resistance or $33,500, it could start a fresh decline. An initial support is near the channel support at $31,900.
A clear break below the channel support could open the doors for a larger decline towards the $30,800 support. Any more losses may possibly call for a downside break below the $30,000 support zone.
Technical indicators:
Hourly MACD – The MACD is struggling to gain momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now close to the 50 level.
Major Support Levels – $31,800, followed by $30,800.
Major Resistance Levels – $32,800, $33,500 and $33,800.
Cardano price is holding gains above $0.3200 against the US Dollar, while bitcoin is declining. ADA price is likely to surge above $0.3600 unless it breaks the $0.3300 support zone.
Cardano price started a fresh increase after testing the $0.2780 support zone against the US Dollar. The ADA/USD pair broke the $0.3000 and $0.3200 resistance levels to move into a positive zone.
There was also a spike above the $0.3500 resistance and the 55 simple moving average (4-hours). However, the price struggled to continue higher above $0.3800 and a high was formed near $0.3696. It is currently correcting lower and trading below $0.3600.
There was a break below the 23.6% Fib retracement level of the recent upward move from the $0.2774 swing low to $0.3696 high. ADA is now facing hurdles near $0.3500 and the 55 simple moving average (4-hours).
There is also a crucial contracting triangle forming with resistance near $0.3600 on the 4-hours chart. The triangle support is near the $0.3300 level. The next major support is near the $0.3200 level. It is close to the 50% Fib retracement level of the recent upward move from the $0.2774 swing low to $0.3696 high.
A downside break below the $0.3300 and $0.3200 support levels may possibly spark a major decline. In the stated case, there is a risk of a drop towards the $0.3000 support zone.
Conversely, the bulls might aim an upside break above the $0.3500 and $0.3600 resistance levels. If they succeed, there are high chances of a surge towards the $0.4000 resistance level.
The chart indicates that ADA price is clearly c facing hurdles near $0.3500 and the 55 simple moving average (4-hours). Overall, the price is likely to start a fresh increase if it clears the key $0.3600 resistance zone in the near term.
4 hours MACD – The MACD for ADA/USD is losing pace in the bullish zone.
4 hours RSI – The RSI for ADA/USD is currently just below the 50 level.
Key Support Levels – $0.3300 and $0.3200.
Key Resistance Levels – $0.3500 and $0.3600.
The post Cardano (ADA) Price Analysis: Bulls Eye Fresh Rally above $0.36 appeared first on Live Bitcoin News.
Ethereum price is trading in a bullish zone above $1,200 against the US Dollar. ETH/USD is likely to make another attempt to test the $1,500 level in the coming sessions.
In the past few sessions, Ethereum saw a strong increase above the $1,200 pivot level against the US Dollar. ETH price broke a few major hurdles near $1,300 and $1,350 to move further into a positive zone.
The price even broke the $1,400 level and settled above the 55 simple moving average (4-hours). Finally, the price traded to a new all-time high at $1,478 before correcting lower. It broke the $1,400 and $1,380 support levels.
There was break below the 23.6% Fib retracement level of the upward move from the $1,039 swing low to $1,478 high. However, the price is holding gains above $1,300. It is currently testing the $1,330 support and the 55 simple moving average (4-hours).
There is also a key bullish trend line forming with support near $1,200 on the 4-hours chart. An intermediate support is near the $1,258 level since it is close to the 50% Fib retracement level of the upward move from the $1,039 swing low to $1,478 high.
On the upside, the $1,380 and $1,400 levels are immediate hurdles. A clear break above the $1,400 level will most likely increase the chances of a break towards the $1,480 and $1,500 resistance levels in the near term. The next major resistance sits near the $1,550 level.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading in a positive zone above $1,250 and the 55 simple moving average (4-hours). Overall, ether price could eye a fresh increase above the $1,400 and $1,450 resistance levels in the coming sessions.
4 hours MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is still above the 50 level.
Key Support Levels – $1,280, followed by the $1,200 zone.
Key Resistance Levels – $1,400 and $1,450.
The post Ethereum Price Analysis: ETH Retreats Lower, Dips Remain Supported appeared first on Live Bitcoin News.
Chainlink (LINK) rallied towards the $26.00 level before correcting lower, similar to bitcoin and Ethereum. The price is now approaching a major support zone at $21.50.
After a successful break above $22.00, chainlink (LINK) gained bullish momentum above $24.00. The bulls gained strength, resulting in a push above the $25.00 resistance zone.
A new 2021 high was formed near $25.89 and the price settled well above the 100 simple moving average (4-hours). It is currently correcting lower and trading below the $25.00 level. There was a break below the 23.6% Fib retracement level of the recent increase from the $17.19 swing low to $25.89 high.
On the downside, there are many important supports forming near $21.50. There is also a major bullish trend line forming with support near $21.50 on the 4-hours chart of the LINK/USD pair.
Source: LINKUSD on TradingView.com
The trend line is close to the 50% Fib retracement level of the recent increase from the $17.19 swing low to $25.89 high. As long as link price is above the $21.50 level, there are chances of a strong increase in the near term. An immediate resistance is near the $24.00 level.
The first major resistance is near $25.00, above which the price is likely to accelerate higher towards the $26.00 and $26.50 levels in the near term.
If chainlink’s price stay above the $21.50 support, there is a risk of a larger decline. The next major support below $21.50 is near the $20.50 level.
Any more losses below the $20.50 level may possibly put the $20.00 support at risk in the near term. In the stated case, the price could revisit the $18.50 support.
Technical Indicators
4-hours MACD – The MACD for LINK/USD is gaining momentum in the bearish zone.
4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is currently just below the 50 level.
Major Support Levels – $21.50, $21.20 and $20.50.
Major Resistance Levels – $24.00, $25.00 and $26.00.
Ethereum started a downside correction after trading to a new all-time high at $1,480 against the US Dollar. ETH price is currently approaching the $1,300 and $1,275 support levels.
After a strong increase above $1,400, Ethereum failed to test the $1,500 resistance zone. A new all-time high was formed near $1,480 before the price started a fresh decline.
There was a clear break below the $1,400 and $1,380 support levels. More importantly, there was a break below a major bullish trend line with support near $1,385 on the hourly chart of ETH/USD. The pair broke the $1,350 support level to move into a short-term bearish zone.
A low is formed near $1,292 and ether is currently attempting a fresh increase. It broke the 23.6% Fib retracement level of the recent decline from the $1,478 swing high to $1,292 low.
Source: ETHUSD on TradingView.com
On the upside, there is a major resistance forming near the $1,365 level. It is close to the 50% Fib retracement level of the recent decline from the $1,478 swing high to $1,292 low. There is also a connecting bearish trend line forming with resistance near $1,385.
Ether price is approaching a couple of important supports near $1,300 and $1,285. The main support is forming near the $1,275 level, below which there is a risk of a larger decline in the coming sessions.
Ethereum is currently down around 10%, and it is trading close to the 100 hourly simple moving average. To start a fresh increase, it must gain bullish momentum above the $1,365 and $1,385 resistance levels.
A successful close above the trend line resistance and $1,385 could set the pace for a fresh increase. The next major resistance is near the $1,450 and $1,480 levels.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently well below the 50 level.
Major Support Level – $1,275
Major Resistance Level – $1,380
Bitcoin price recovered above $34,000, but it struggled near $35,000 against the US Dollar. BTC is currently declining and it remains at a risk of more losses below $32K.
Yesterday, there was a decent recovery in bitcoin price above the $33,800 and $34,000 resistance levels. BTC even broke the $34,500 level and settled above the 100 hourly simple moving average.
However, the bulls struggled to gain strength above $34,500 and the price remained below $35,000. A high was formed near $34,872 before the price started a fresh decline. There was a break below the $34,000 and $33,800 support levels.
Bitcoin price declined below the 50% Fib retracement level of the upward move from the $30,943 swing low to $34,872 high. It is now trading well below $33,000 and it is testing the 100 hourly simple moving average.
Source: BTCUSD on TradingView.com
There is also a key bullish trend line forming with support near $32,400 on the hourly chart of the BTC/USD pair. The trend linen is close to the 76.4% Fib retracement level of the upward move from the $30,943 swing low to $34,872 high.
A downside break and close below $32,000 could start another decline. In the stated case, the price is likely to continue lower towards the $30,800 support or even $30,000.
If bitcoin stays above the $32,400 and $32,000 support levels, it could start a fresh increase. An initial resistance on the upside is near the $33,000 level.
The first major resistance is near the $33,800 level. The main resistance is still near the $34,500 and $35,000 levels, above which the price is likely to accelerate higher in the near term.
Technical indicators:
Hourly MACD – The MACD is slowly gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level.
Major Support Levels – $32,400, followed by $30,800.
Major Resistance Levels – $33,000, $33,800 and $34,500.
Stellar lumen price is showing positive signs above $0.2500 against the US Dollar, similar to bitcoin. XLM price could clear the $0.3000 barrier as long as there is no close below $0.2500.
After a downside correction, stellar lumen price remained stable above the $0.2200 level against the US Dollar. The XLM/USD pair traded as low as $0.2265 and settled below the 55 simple moving average (4-hours).
Recently, there was a fresh increase and the price climbed above the $0.2500 and $0.2600 resistance levels. There was also a break above the 50% Fibonacci retracement level of the downward move from the $0.3200 high to $0.2265 low.
On the upside, the price is facing hurdles near $0.2850 and the 55 simple moving average (4-hours). There is also a key contracting triangle forming with resistance near $0.2840 on the 4-hours chart.
The triangle resistance is close to the 61.8% Fibonacci retracement level of the downward move from the $0.3200 high to $0.2265 low. A clear break above the triangle resistance and $0.2880 could open the doors for a larger increase in the coming sessions.
The next major resistance is near the $0.3000 level, followed by $0.3250. A close above the $0.3250 level could set the pace for a sustained upward move towards the $0.3800 and $0.4000 levels.
Conversely, the price might fail to gain pace above the $0.2850 and $0.3000 resistance levels. An initial support on the downside is near the $0.2480 level. A downside break below the triangle lower trend line could set the pace for a sustained downward move towards the $0.2200 and $0.2000 support levels.
The chart indicates that XLM price is clearly facing hurdles near $0.2850 and the 55 simple moving average (4-hours). Overall, the price could start a major bullish wave once it clears the $0.2840 and $0.3000 resistance levels.
4 hours MACD – The MACD for XLM/USD is losing momentum in the bearish zone.
4 hours RSI – The RSI for XLM/USD is currently rising towards the 50 level.
Key Support Levels – $0.2550 and $0.2450.
Key Resistance Levels – $0.2850, $0.3000 and $0.3250.
The post Stellar Lumen (XLM) Price Setting Up for Bullish Break If It Clears $0.30 appeared first on Live Bitcoin News.
Ripple price is trading in a positive zone above $0.2560 against the US Dollar. XRP price must settle above $0.2840 to increase the chances of a break above $0.3000.
This past week, ripple price topped near the $0.3288 level against the US Dollar. The XRP/USD pair declined steadily and traded below the $0.3000 support level.
There was also a spike below the main $0.2560 support level and the price settled below 55 simple moving average (4-hours). It traded as low as $0.2408 and recovered quickly above $0.2560. There was a clear break above the 23.6% Fib retracement level of the downward move from the $0.3288 high to $0.2408 low.
However, the price is still facing many hurdles near $0.3000 and the 55 simple moving average (4-hours). There is also a major bearish trend line forming with resistance near $0.2820 on the 4-hours chart of the XRP/USD pair.
The trend line is close to the 50% Fib retracement level of the downward move from the $0.3288 high to $0.2408 low. A clear break above the trend line resistance could easily push the price towards the $0.3000 resistance level.
The next key resistance is near the $0.3080 level, above which the price is likely to jump towards the $0.3400 and $0.3500 levels. Conversely, the price could fail to clear $0.2840 and the $0.3000 barrier. An initial support on the downside is near the $0.2620 level.
The main support is still near the $0.2560 level. A daily close below the $0.2560 level could spark a sharp decline towards the $0.2200 and $0.2100 levels.
Ripple Price
Looking at the chart, ripple price is clearly trading below major hurdles near $0.2840 the 55 simple moving average (4-hours). Overall, the price could accelerate higher once it clears the $0.2820 and $0.2840 resistance levels.
4 hours MACD – The MACD for XRP/USD is currently gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now just above the 50 level.
Key Support Levels – $0.2620, $0.2560 and $0.2550.
Key Resistance Levels – $0.2840 and $0.3000.
The post Ripple Price Analysis: Bulls Eye Key Upside Break above $0.30 appeared first on Live Bitcoin News.
Uniswap’s UNI surged over 25% and it broke many hurdles near $10.00 against the US Dollar. A new all-time high is formed near $12.98 and dips seems to remain attractive in the near term.
After forming a support base above $8.000, UNI started a strong increase. It outperformed bitcoin and Ethereum to register gains over 25% in the past 2-3 sessions.
To start the increase, there was a break above a declining channel with resistance near $8.50 on the 4-hours chart of the UNI/USD pair. The pair broke the $10.00 resistance zone and settled nicely above the 100 simple moving average (4-hours).
As a result, there was a strong rally and the price even broke the $12.00 resistance. It traded to a new all-time high near $12.98 and it is currently consolidating gains. An initial support is near the $11.60 level. It is close to the 23.6% Fib retracement level of the upward move from the $7.00 swing low to $12.98 high.
Source: UNIUSD on TradingView.com
The main support is now forming near the $10.00 level (the recent breakout zone). The 50% Fib retracement level of the upward move from the $7.00 swing low to $12.98 high is also near the $10.00 level. Any more losses could lead the price towards the 100 simple moving average (4-hours) at $7.50.
If UNI price remains stable above $11.50 and $11.00, it could continue to rise. An initial resistance on the upside is near the $13.00 level.
A successful break above the $13.00 resistance zone may possibly clear the path for a push towards the $14.50 and $15.00 resistance levels in the near term. The next major target for the bulls could be $20.00.
Technical Indicators
4-Hours MACD – The MACD for UNI/USD is gaining momentum in the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is well above the 50 level.
Major Support Levels – $11.60, $11.00 and $10.00.
Major Resistance Levels – $12.95, $13.00 and $15.00.
Ethereum surged 15% and it traded to a new all-time high near $1,475 against the US Dollar. ETH price is currently correcting lower, but it is likely to remain well bid above $1,350.
In the past 3-4 sessions, there was a strong increase in Ethereum above the $1,300 resistance level. ETH outperformed bitcoin and it rallied above the $1,400 resistance level.
There was also a close above the $1,400 level and the 100 hourly simple moving average. Ether gained 15% and it traded to a new all-time high near the $1,476 level. The price is currently correcting lower and trading below the $1,450 level.
There was a break below the 23.6% Fib retracement level of the recent rally from the $1,299 swing low $1,476 high. An initial support on the downside is near the $1,400 level. There is also is a key bullish trend line forming with support near $1,360 on the hourly chart of ETH/USD.
Source: ETHUSD on TradingView.com
On the upside, the price is facing hurdles near $1,450 and $1,475. The main resistance is near the $1,500 level. A clear break above the $1,500 resistance level could open the doors for a sharp increase in the coming sessions. The next stop for the bulls could be $1,580 or $1,600.
If ethereum starts a downside correction, it could remain stable above the $1,400 level. The first major support on the downside is near the trend line and $1,350.
The 50% Fib retracement level of the recent rally from the $1,299 swing low $1,476 high is also near the $1,385 level to act as a support. Therefore, ether price is likely to remain well bid if there is a decline towards the $1,360 level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently correcting lower towards the 60 level.
Major Support Level – $1,360
Major Resistance Level – $1,450
Bitcoin price is slowly recovering above $32,000 against the US Dollar. BTC is likely to face a strong selling interest near $33,500 and $34,000.
After forming a base above the $30,000 level, bitcoin price corrected higher. BTC managed to clear the $31,200 and $31,500 resistance levels to move into a short-term positive zone.
There was a break above the 23.6% Fib retracement level of the downward move from the $37,892 high to $28,809 low. It is now trading just above $32,500 and the 100 hourly simple moving average. There was also a break above a declining channel with resistance near $32,650 on the hourly chart of the BTC/USD pair.
Bitcoin price is approaching the $33,000 resistance level. The next key resistance could be near $33,500 or the 50% Fib retracement level of the downward move from the $37,892 high to $28,809 low.
Source: BTCUSD on TradingView.com
Any further gains could lead the price towards the $34,000 resistance zone. To move into a positive zone and start a steady increase, the bulls need to gain strength above $34,000 and $34,500 in the near term. The next major resistance is near the $35,800 level, where the bulls might take a stand.
If bitcoin fails to recover above $33,500 and $34,000, there is a risk of another decline. An initial support on the downside is near the $32,000 level.
The first major support is near the $31,250 and $31,200 levels. A downside break below $31,200 and a follow up move below $31,000 may possibly start a strong decline towards $28,500 in the coming sessions. It seems like the price might consolidate in a range below the $34,000 resistance level before it makes the next major move.
Technical indicators:
Hourly MACD – The MACD is slowly gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now recovering towards the 40 level.
Major Support Levels – $30,000, followed by $28,800.
Major Resistance Levels – $30,800, $31,000 and $32,800.
Ethereum started a fresh increase above $1,300 against the US Dollar. ETH price is showing positive signs and it is likely to continue higher towards $1,400 and $1,500.
This past week, bitcoin and ethereum saw a fresh decline below $1,200 and $35,000 respectively against the US Dollar. ETH price even declined below $1,100, but it remained stable above the $1,000.
A low was formed near $1,042 before the price started a fresh increase. There was a strong close above $1,200 and the 100 simple moving average (4-hours).
There was also a break above the 50% Fib retracement level of the downward move from the $1,440 swing high to $1,042 low. There was a break above a major bearish trend line with resistance near $1,265 on the 4-hours chart of ETH/USD.
Source: ETHUSD on TradingView.com
Ether price is now approaching the $1,345 resistance zone. It is close to the 76.4% Fib retracement level of the downward move from the $1,440 swing high to $1,042 low.
A clear break above the $1,345 level could open the doors for a fresh increase above the $1,400 resistance zone. In the stated case, the price could continue to rise towards the $1,500 level. The next major resistance sits near the $1,530 level.
If Ethereum fails to clear the $1,345 and $1,380 resistance levels, it could start a downside correction. The first key support on the downside is near the $1,240 level.
The main support is forming near the $1,180 level (the recent breakout zone) and the 100 simple moving average (4-hours). Any more losses could lead ether price towards the $1,080 support zone.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
4 hours RSI – The RSI for ETH/USD is well above the 50 level.
Major Support Level – $1,240
Major Resistance Level – $1,380
Bitcoin price is showing recovering signs above $32,000 against the US Dollar. BTC is facing an uphill task at $34,000 and it is likely to continue lower towards $30,000.
This past week, bitcoin price saw a sharp decline below the $35,000 and $34,000 support levels against the US Dollar. The BTC/USD pair even tumbled below the $30,000 support and settled well below the 100 simple moving average (4-hours).
A low was formed near $28,800 before the price started an upside correction. It broke the $30,000 level and it even recovered above the $31,500 level.
There was also a test of the 50% Fib retracement level of the downward move from the $37,847 swing high to $28,867 low. There is also a short-term contracting triangle forming with resistance near $33,000 on the 4-hours chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
If there is a triangle break, the price could face hurdles near the $33,800 and $34,000 levels. There is also a key bearish trend line forming near $34,500 on the same chart. It is close to the 61.8% Fib retracement level of the downward move from the $37,847 swing high to $28,867 low.
A close above the $34,000 and $34,500 resistance levels could open the doors for a larger increase. The next major hurdle is near the $38,000 level.
If bitcoin fails to clear the $33,500 and $34,000 resistance levels, there is a risk of another decline. An initial support on the downside is near the $31,800 level.
A clear break below the $31,800 and $31,500 support levels could clear the path for a push towards the $30,000 support zone in the near term. Any more losses might call for a test of $28,800.
Technical indicators
4 hours MACD – The MACD for BTC/USD is slowly gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is rising towards the 50 level.
Major Support Level – $30,000
Major Resistance Level – $34,000
Bitcoin cash price is down over 20% from well above $500 against the US Dollar, similar to bitcoin. BCH/USD is likely to recover nicely unless there is a daily close below $400.
After a strong rally, bitcoin cash price struggled to gain momentum above $550. BCH price formed a high near the $554 level and recently started a strong decline, similar to bitcoin and Ethereum.
The price broke the $500 support and declined over 20%. There was also a break below the $440 support and a close below the 55 simple moving average (4-hours). There was also a break below a major bullish trend line with support near $490 on the 4-hours chart of the BCH/USD pair.
Finally, there was a spike below the $400 level and the price traded as low as $389. It is currently correcting higher and trading above the $400. An initial resistance on the upside is near $428.
The 23.6% Fib retracement level of the recent decline from the $554 high to $389 low is near the $428 level. The next major resistance on the upside is near the $450 level. Any more gains could lead the price towards the $470 resistance zone.
The 50% Fib retracement level of the recent decline from the $554 high to $389 low is near the $470 level to act as a major barrier. On the downside, the price is likely to remain stable above $400.
A close below the $400 support, with a follow up move below the $389 swing low could accelerate losses. In the stated case, the price could easily dive towards the $350 level.
Bitcoin Cash Price
Looking at the chart, bitcoin cash price is clearly holding the key $400 support, but it is well below the 55 simple moving average (4-hours). Overall, the price is likely to recover sharply as long as it is above the $400 and $385 support levels.
4 hours MACD – The MACD for BCH/USD is slowly gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is currently well below the 40 level.
Key Support Levels – $400 and $350.
Key Resistance Levels – $450 and $470.
The post Bitcoin Cash Analysis: Strong Support Forming Near $400 appeared first on Live Bitcoin News.
Polkadot’s DOT surged towards $18.50 before correcting lower against the US Dollar. It is holding gains above $15.00 despite a crash in bitcoin and Ethereum.
After a close above the $12.00 level, DOT started a fresh rally above the $15.00 resistance level. There was a strong bullish momentum above $15.00 and the price even climbed above $18.00.
However, the bulls failed to test the $20.00 level. The recent high was formed near $18.37 and the price recently corrected lower. There was a break below the $16.50 support level, but the bulls were active near the $15.00 and $14.80 support levels (a multi-touch zone).
A low is formed near $14.78 and the price is currently rising. It broke the $16.00 level and tested the 50% Fib retracement level of the downward move from the $18.37 swing high to $14.78 low.
Source: DOTUSD on TradingView.com
There is also a key bullish trend line forming with support near $15.50 on the 4-hours chart of the DOT/USD pair. The price is clearly trading nicely above the $15.00 support and he 100 simple moving average (4-hours). On the upside, a break above the $16.60 level could spark a fresh increase.
The next key resistance could be near $17.50 or the 76.4% Fib retracement level of the downward move from the $18.37 swing high to $14.78 low. Any more gains may possibly call for a break above $18.50.
If DOT price fails to continue higher above $16.50 and $17.00, there could be a fresh decline. The first key support is near the $15.50 level and the trend line.
A successful break below the trend line support could put the $15.00 support at a risk. Any more losses may possibly call for a drop towards the $14.00 level.
Technical Indicators
4-Hours MACD – The MACD for DOT/USD is gaining momentum in the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is still above the 50 level.
Major Support Levels – $15.50, $15.00 and $14.80.
Major Resistance Levels – $16.50, $17.20 and $18.50.
Ethereum declined close to 20% and it tested the $1,050 zone against the US Dollar. ETH price is currently recovering, but it might struggle near $1,200 and $1,250.
In the past 3-4 sessions, there was a nasty decline in bitcoin and Ethereum below $32,000 and $1,200 respectively. ETH price nosedived almost 20% and it broke many supports such as $1,150 and $1,120.
It traded close to $1,040 and settled well below the 100 hourly simple moving average. A low is formed near $1,042 and the price is currently correcting higher. There was a break above the $1,100 resistance level and the price is showing a few positive signs.
Ether is trading above the 23.6% Fib retracement level of the recent decline from the $1,389 swing high to $1,042 low. On the upside, the first key resistance is near the $1,200 level.
Source: ETHUSD on TradingView.com
The next resistance could be near $1,215 or the 50% Fib retracement level of the recent decline from the $1,389 swing high to $1,042 low. There is also a key bearish trend line forming with resistance near $1,300 on the hourly chart of ETH/USD.
If there is a clear break above $1,215, the price is likely to face a strong selling interest near the $1,250 level in the coming sessions. Any more gains could open the doors for a fresh rally towards $1,400.
If ethereum fails to recover above the $1,200 and $1,210 levels, there is a risk of a fresh decline. An initial support on the downside is near the $1,120 level.
The first major support is near the $1,100 level. The main support is now forming near the $1,050 level. If ether fails to stay above the $1,050 support, it could even decline below the $1,000 support level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently rising towards the 40 level.
Major Support Level – $1,120
Major Resistance Level – $1,250
Bitcoin price is down over 15% and it broke many supports near $32,000 against the US Dollar. BTC even traded close to $28.5K and it is currently correcting losses.
Yesterday, we discussed the chances of more losses in bitcoin price below $33,000. BTC failed to recover above $34,500 and it started a strong decline. There was a break below many important supports near $33,000 and $32,800.
It opened the doors for more downsides below $32,000 and the price settled well below the 100 hourly simple moving average. The price even tumbled below the $30,000 level. It traded close to the $28,500 support and it is currently correcting losses.
There was a break above the $30,000 level. Bitcoin price is now trading above the 23.6% Fib retracement level of the recent decline from the $32,707 high to $28,808 low.
Source: BTCUSD on TradingView.com
On the upside, the first resistance is near the $30,800 and $31,000 levels. The 50% Fib retracement level of the recent decline from the $32,707 high to $28,808 low is also near the $30,800 level. The next key resistance is near the $32,000 level.
There is also a key bearish trend line forming with resistance near $32,700 on the hourly chart of the BTC/USD pair. To move into a positive zone, the price must clear $32,800 and $33,000 (support turned resistance).
If bitcoin fails to recover above $31,000 and $31,800, there is a risk of another decline. An initial support on the downside is near the $30,000 level.
The first major support is near the $28,800 and $28,500 levels. A close below the $28,000 support zone could open the doors for a drop towards the $25,000 support zone in the coming sessions.
Technical indicators:
Hourly MACD – The MACD is slowly gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now recovering towards the 40 level.
Major Support Levels – $30,000, followed by $28,800.
Major Resistance Levels – $30,800, $31,000 and $32,800.
