Crypto Bulls Fighting Back? Market Sees Green After Sell-Off

The cryptocurrency market is flashing green Wednesday following a major downturn, with the total capitalization rising more than $11 billion on a 24-hour basis. The signs of a turnaround emerge in the wake of a rough patch for the market, during which it hit its lowest point for 2018, as CoinDesk previously reported. At press time, bitcoin, the world’s biggest cryptocurrency by market capitalization, is trading hands at an average of $6,349 – a considerable improvement from yesterday, when the price hit a low of $5,921.65, according to the CoinDesk Bitcoin…

Bears for Crypto, Bulls for ICOs: 2018 Market Positive Statistics

Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by ICObazaar. With the first half of 2018 now past, it is poignant to look back at the last seven months of data on the Initial Coin Offering (ICO) market — an important facet of the cryptocurrency ecosystem. Some predicted that the explosion of ICOs last year — with many failures and even more scams — would lead…

Bitcoin (BTC) Price Watch: Last Chance for Bulls?

Bitcoin Price Key Highlights Bitcoin price is in the middle of a larger correction to the area of interest previously highlighted. If support holds, bitcoin could recover to the Fibonacci extension levels marked on the 4-hour time frame. Technical indicators appear to be suggesting that there’s still a chance for bulls to charge at these levels. Bitcoin price is making a deeper correction from its earlier rally, and technical indicators suggest that the climb could resume. Technical Indicators Signals The 100 SMA is safely above the longer-term 200 SMA to…

Bitcoin Bulls Defend $7,450 But Need Progress Soon

Having defended the key support of $7,455, the bitcoin bulls now need a quick move higher in order to neutralize the threat of a short-term bearish reversal. As of writing, the cryptocurrency is trading at $7,560 on Bitfinex – down 11 percent from the recent high of $8,507. However, that still marks a gain of more than 30 percent from the June 24 low of $5,755. So, it is safe to say the bullish trend is still intact. Further, BTC’s solid defense of $7,455 (38.2 percent Fibonacci retracement of the…

Ethereum (ETH) Technical Analysis: ETH Bulls Shaky

The Ethereum (ETH) blockchain has different user case application and undoubtedly, that what generates value. It’s a proven platform that is secure and investors stand to reap big. At current prices, Ethereum (ETH) is stable, decoupling from BTC influence and likely to sink if at all bulls cannot overcome sellers aiming to reverse July 24 gains. From the News The Commonwealth Bank of Australia used the Ethereum blockchain for their international shipping and logistics. For demonstrations, they successfully exported and tracked 17 tons of Almonds from Australia to Hamburg, Germany.…

Bitcoin (BTC) Price Watch: Can Bulls Defend This Level?

Bitcoin Price Key Highlights Bitcoin price is testing the ascending channel support and might be due for a bounce. This is in line with a number of other inflection points that might be enough to keep losses in check. A continuation of the climb could lead to a test of the Fibonacci extension levels from here. Bitcoin price appears to be encountering support at the channel bottom and may be due for a rally continuation. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to confirm that…

Tron (TRX) Price Watch: Bulls Gaining Momentum?

Tron Price Key Highlights Tron completed an upside break from a double bottom neckline, indicating that gains are in the cards. However, price got rejected on nearby resistance at 0.04000 and is currently pulling back to gather more bullish energy. Price seems to have bounced on the retest of the broken neckline and is ready to resume the climb to the extension levels. Tron price made a break and retest of the double bottom neckline to signal that more buyers are joining in. Technical Indicators Signals The 100 SMA is…

Bitcoin (BTC) Price Watch: Bulls Keep Charging, Where to Next?

Bitcoin Price Key Highlights Bitcoin seems unstoppable in its climb as it sets its sights on the next upside targets. Price is on its way to test the dynamic resistance at the 200 SMA inflection point then the $9,000 area of interest. Technical indicators on the daily time frame are still reflecting the presence of selling pressure. Bitcoin price has been on a tear and buyers might have enough energy to push for a test of the next upside barriers. Technical Indicators Signals The 100 SMA is below the longer-term…

$8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls

$8,000? It’s not out of the question. With no price pullback happening in the wake of Tuesday’s sudden surge, the technical charts indicate bitcoin could soon close in on this key psychological benchmark. First, an expected pullback was not without merit (the charts were looking overextended on Tuesday when the 4-hour RSI reached its highest level since 2016), but since Wednesday, the world’s largest cryptocurrency has largely consolidated gains in a narrow range between $7,246 and $7,588. As the trading range tightens and the technical indicators regain composure, the probability of…

Bitcoin Price Analysis: Bitcoin Faces Pivotal Support as Bulls Exhaust …

After seeing a rally to the $11,000s, bitcoin has managed to pull back to the $9,000 range and has left many bullish investors confused. The initial bullish rally seemed promising as it broke the macro, descending channel that governed much of the market over the last two months: Figure 1: BTC-USD, 6-Hour Candles, Descending Channel The breakout of the descending channel (red dotted channel) gave hope to many bullish investors as it seemingly signaled the end of the downtrend and perhaps the beginning of a sustained bullish reversal. The volume…