We May Expect a Bitcoin Rally If Coronavirus Breaks Into a Second Wave

COVID-19 has become a defining moment in the course of our society, but the impact of the pandemic can be seen through its effects on the economy and society in general. From the perspective of a Bitcoin (BTC) investor, there are many things to consider. Coronavirus emergent patterns determine how the infection spreads and sets the society on a particular course into the future. The impact of the novel coronavirus on consumer society has been tremendous. The effect has mostly been seen as the closure of workplaces, resulting in people…

Indicators Suggest Ethereum Could Still Rally Above $250

Ethereum traded to a new monthly high near $249 before correcting lower against the US Dollar. ETH price is currently trading nicely above $253 and it could rally again towards $250. ETH price is holding the main $235 support level and the $232 pivot level against the US Dollar. It is facing a couple of important hurdles near $240 and $250. There is a crucial contracting triangle forming with resistance near $242 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could rally again above $245 as…

XRP Rally Risks Strong Retracement in Pivotal Battle With Bitcoin

After years of underperformance compared to the rest of the crypto market, XRP has been pumping from bear market lows. But just as the altcoin reaches a key level on its Bitcoin trading pair, an ominous sell signal has triggered.  Will the recent rally in Ripple fully retrace as pumps have in the past? Or will the cryptocurrency finally recover in its ongoing battle against BTC? David Versus Goliath, Ripple Versus Bitcoin  XRP has been in a brutal downtrend on the BTC trading pair and remains over 90% down from…

Ethereum 2.0 Is Likely to Boost DeFi Further, Even After Parabolic Rally

One of the hottest crypto trends over recent months has been Ethereum DeFi. Also known as decentralized finance, DeFi is the industry of building decentralized applications for financial services. As can be seen below, coins related to this sector have gone parabolic, outpacing Ethereum. Take the example of Aave’s LEND token, which is up by over 700% since the middle of April. Chart of Ethereum vs. top DeFi altcoins (Compound, Chainlink, Ren, Synthetix Network Token, and Aave’s LEND) over the past three-four months. Chart from TradingView.com According to a prominent…

Technicals Suggest Ethereum Must Stay Above $230 For Hopes of a Fresh Rally

Ethereum started a downside correction from the $248-$250 resistance zone against the US Dollar. ETH could extend its decline, but it must stay above $230 for hopes of a fresh increase. Ethereum is correcting lower and trading near the $235 support zone. The price is now trading below the $242 pivot level and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $245 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to extend its…

‘Significant’ Ethereum Rally Signals New Altcoin Season — Peter Brandt

Popular trader Peter Brandt believes that Ether (ETH) saw a significant breakout in its ETH-BTC pair on July 9. According to the veteran trader, the breakout could be a signal that a new altcoin season could occur in the near-term. Brandt tweeted: “Significant breakout in ETH-BTC with target of .03276 BTC. Most alts should gain on Bitcoin in near future.” ETH-BTC daily chart. Source: Peter Brandt The strong performance of alternative cryptocurrencies in recent weeks coincides with an Ether rally and the expectation that upcoming network upgrades will solve the…

Analysts Discuss If Stellar Lumens (XLM) Has Peaked After 50% Rally in 4 Days

It isn’t only Cardano and DeFi tokens that have performed extremely well over recent days. Stellar Lumens (XLM) is up over 50% in the past four days, having rallied from around $0.06 on the weekend to $0.09 as of the time of this article’s writing. At the local highs, the popular altcoin traded just a few dozen basis points shy of $0.10. Stellar (XLM) price chart over the past week from TradingView.com This strength has made Stellar Lumens one of the best-performing cryptocurrencies of the past week. XLM is only…

Bitcoin Gold Copycat Rally ‘Just Started’ Amid Worries of March Repeat

Bitcoin (BTC) is preparing to copy gold as it aims for all-time highs, according to an exchange amid fresh warnings that a correction is due. In a tweet on July 9, Latoken highlighted the increasingly “correlated” relationship between the precious metal and BTC. Bitcoin-gold correlation increasing? After XAU/USD topped $1,800 for the first time since 2011 this week, BTC/USD should now follow suit, it argued. “#Gold hits 9-year high, while #Bitcoin’s rally has just started. #BTC and gold have been growing correlated in recent times,” it summarized. At press time, gold…

There’s “Heavy Doubt” Chainlink Will Continue to Rally After 300% Surge

Calling Chainlink’s (LINK) recent price performance impressive would almost be an understatement. The cryptocurrency has been on a tear over the past three days. After printing a topping pattern near $4.70, the altcoin rocketed higher by around 50%, reaching a high of $6.60 on Wednesday. Despite the pullback to $6.30, LINK is still up by over 300% from the March capitulation lows. This is especially impressive when you consider that Bitcoin is only up by a relatively weak 150%. Chart of Chainlink’s price action since the middle of February from…

This Confluence Of Bullish Factors Shows Ripple (XRP) Could Rally To $0.212

Ripple is up more than 5% and it settled nicely above the $0.2000 pivot level against the US Dollar. XRP price is currently rising and it could continue to rise towards $0.2120. Ripple is slowly gaining bullish momentum above the $0.2000 resistance against the US dollar. The price is trading in a positive zone above $0.2020 and the 100 hourly SMA. There is a rising channel forming with resistance near $0.2065 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another rally if…