Tag: Rally

Indicator Suggests Bitcoin’s $8K Price Rally Could Be Overstretched

Bitcoin (BTC) has had a bullish start to the week, but the momentum could wane in the next few days, technical studies indicate. The leading cryptocurrency rose to a two-month high of $8,130 on Bitfinex today, having witnessed an inverse head-and-shoulders breakout last week. The 40 percent rally from the seven-month low of $5,755 reached on June 24 has put the bulls back in a commanding position. Hence, further gains could be on the cards, albeit after a brief pause or a price pullback as a key technical indicator is…

Ethereum Classic Price Defies Bear Market in Single-Day Rally

The ethereum classic price continued its inexorable rise on Thursday afternoon as it reached $17.71 on cryptocurrency exchange Binance — a single-day increase of 7%. There could be several factors which are affecting this price movement. The principal one is the listing on Coinbase, which was something of a surprise when it beat other contenders such as Ripple’s XRP token to the finishing line. Turnover has also increased quite substantially in the past days where the price climbed from a low of around $13.50 to $17.74 of now and appears…