Retail Investors are Flooding into Bitcoin as Likelihood of Explosive Rally Grows

Bitcoin’s price has been caught within a strong uptrend throughout the past several weeks, although this momentum is showing some signs of stalling as the cryptocurrency consolidates within the upper-$11,000 region. Analysts are now noting that BTC may soon see a strong uptrend due to inflows of capital from retail traders who are just entering the market for the first time. This group of investors may provide Bitcoin with a strong base to grow upon and is indicated by the number of addresses holding over 1 BTC coupled with BTC’s expanding…

Ether Rockets 50% in 5-Year Anniversary Month: What’s Behind the Rally?

The price of Ethereum’s Ether token has seen strong momentum in July. Since the start of the month, ETH has climbed by 50% from $225.5 to $340 on Coinbase. It coincides with a five-year anniversary for the dominant smart contracts blockchain protocol. There appear to be two key factors fueling the rally of ETH. First, the anticipation of the market towards ETH 2.0 has been continuously building. Second, the explosive growth of the decentralized finance (DeFi) market has upheld the momentum of Ethereum. ETH/USD surges from $225.5 to $340 from…

This Fractal Suggests XRP is on the Cusp of Seeing a Parabolic Rally

XRP was able to incur some decent momentum earlier this week that sent it into the mid-$0.25 region. Despite climbing from its recent sub-$0.20 lows, the cryptocurrency’s uptrend is still underwhelming compared to those seen by Bitcoin, Ethereum, and many of its other peers. The lack of enthusiasm surrounding the embattled token is quite significant at the moment, and it is now struggling to surmount the heavy resistance it faces at $0.25. Bulls did try to shatter this level yesterday, but their attempt failed and resulted in a somewhat firm…

Ethereum Above $325 Could Trigger A Fresh Rally Towards $350

Ethereum is currently consolidating gains above the $307 and $310 support levels against the US Dollar. ETH price must surpass the $325 resistance zone to trigger a fresh rally. Ethereum is holding a couple of important supports above the $307 and $310 levels. The price is facing a crucial resistance near the $322 and $325 levels, but it is above the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $321 on the hourly chart of ETH/USD (data feed via Kraken). The pair must…

Ripple (XRP) Consolidating Gains: Here’s What Could Trigger Another Rally

Ripple extended its upward move towards the $0.2500 resistance against the US Dollar. XRP price is currently consolidating gains above $0.2400 and it might start another increase. Ripple gained bullish momentum above the $0.2400 and $0.2420 resistance levels against the US dollar. The price traded to a new monthly high at $0.2500 and settled well above the 100 hourly SMA. There is a key connecting bullish trend line forming with support near $0.2380 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is consolidating gains…

History Suggests XRP Could Soon Rally Over 30%, But Macro Weakness Remains

XRP has incurred some notable momentum throughout the past 24 hours, but it has been struggling to surmount the crucial resistance that sits between $0.24 and $0.25. The cryptocurrency’s upswing seen today came about as a result of a bull pennant break. Still, the slowing momentum seen following this positive technical development does seem to spell some trouble for where it trends next. Analysts are now widely noting that the cryptocurrency does appear to be at a make or break level. One important factor to consider is that it was…

Bitcoin Cash Rally Reaches $300 and Technicals Indicate Further Upsides

Bitcoin cash price rallied over 8% and it broke the $250 and $260 resistance levels against the US Dollar. BCH is likely to continue higher above the $300 barrier. Bitcoin cash price is gaining momentum above the $260 pivot level against the US Dollar. The price traded close to the $300 level and it is currently consolidating gains. There is a short-term contacting triangle forming with resistance near $295 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to accelerate further higher if…

“Don’t Get Left Behind”: Bitcoin Forms Signal Seen Before 2017’s 2,000% Rally

It’s been an explosive past few days for the Bitcoin market. Even after a slight correction from the $11,500 highs, the asset remains up nearly 20% in the past seven days alone. Some analysts are still pricing in a correction, arguing that bulls are overextended here. They cite funding rates, which is the fee that long positions pay short positions in perpetual futures markets to normalize market conditions. Funding rates are currently at highs not seen since previous Bitcoin tops. Yet a trader is reminding his followers and Crypto Twitter…

Analysts Now Expect XRP to See a “Moonshot” Rally After Breaking Crucial Level

XRP’s price has seen some slight gains in recent times but is still lagging behind many of its peers. While Bitcoin, Ethereum, and many altcoins all post intense upswings that have led them into full-fledged bull market territory, XRP remains stuck within the lower-$0.20 region. Its struggling price mainly comes due to a lack of interest from traders and investors, with its market cap remaining stagnant in recent times – suggesting that while its previous holders are maintaining their positions, there’s a lack of fresh capital inflows. This trend may…

Crypto Traders Discuss Bitcoin Price Direction After $11.4K BTC Rally

The price of Bitcoin officially surpassed $10,400 on July 27, breaking out of a multiyear range as a result. Traders are now mixed on where Bitcoin’s (BTC) price will go next, as many indicators and data points show conflicting trends. The general sentiment around Bitcoin and the cryptocurrency industry has been positive since April. The United States Office of the Comptroller of the Currency granted banks permission to operate crypto custody services, institutional investors have continuously invested in Bitcoin and other top cryptocurrencies through Grayscale, and most recently, the Tether…