Ethereum Saw Key Technical Breakout And Rally Could Gain Pace Above $250

Ethereum gained bullish momentum above the $240 resistance against the US Dollar. ETH price is currently correcting gains, but it is likely to resume its upside above $245. Ethereum settled above the $235 resistance and it climbed above the $242 resistance. The price traded as high as $247 and it is currently correcting lower. There was a break below a short-term bullish trend line with support near $245 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise as long as it is above…

Ripple (XRP) Could Rally Significantly And Only 1 Thing is Holding it Back

Ripple is trading nicely above the $0.1950 support zone against the US Dollar. XRP price is likely to start a strong rally (similar to bitcoin) if it clears the $0.2000 resistance. Ripple price is trading well above the $0.1900 and $0.1920 support levels against the US dollar. The price is currently stuck near the $0.2000 resistance zone. There is a significant bullish flag forming with resistance near $0.1995 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair is likely to start a strong rally if…

Analyst Who Predicted Bitcoin’s 40% October Rally Warns of BTC “Head Fake”

Bitcoin price this morning broke through a short-term downtrend line making up the top of a symmetrical triangle pattern. The currently unconfirmed breakout also caused the “first lift” in the Bollinger Band squeeze resulting from dwindling volatility. This lift is normally a sign of the Bollinger Bands expanding and an explosive move beginning. However, the technical indicator’s creator and financial analyst John Bollinger, is warning of a potential “head fake” in BTCUSD. The last time the analyst made such a call, a historic, record-setting 40% pump followed. Lift Begins In…

Chainlink (LINK) Price Rally is Not Over, Shows Google Data

Chainlink plunged by up to 19.78 percent after setting an all-time high at $8.99 earlier this month. The correction surfaced on profit-taking sentiment among traders – and also as a crypto-focused asset management firm warned about a 99 percent price crash. On the other hand, Google Trends showed the trend for the keyword ‘Chainlink’ hitting a perfect 100, showing the coin’s growing popularity as an investment asset. Chainlink (Ticker: LINK) is up by more than 300 percent on a year-to-date timeframe. The parabolic upside move mainly picked momentum in early…

DeFi Token Rally Pushes Aave (LEND), (SNX) Market Cap Above Maker (MKR)

Decentralized Finance (DeFi) tokens continue to make drastic moves on the price charts, compensating for Bitcoin’s low volatility which has recently hit a three year high. Earlier today, Aave (LEND) and Synthetix Network (SNX) token briefly surpassed MakerDAO’s (MKR) token as each rallied to $0.375 and $4.09 respectively.  The ‘flippening’ was short-lived and MKR has now reclaimed its position above LEND, SNX and Compound (COMP) and currently sits at number 28 on Coinmarketcap with a market capitalization of $453 million.  The switch up likely occurred as LEND price corrected sharply…

Technicals Anticipate a Correction Ahead of Aave (LEND) After 1,500% Rally

The Ethereum-based peer-to-peer lending platform Aave has been in the spotlight of the cryptocurrency market after the 1,500% price increase it has enjoyed throughout the year. In July alone, LEND skyrocketed nearly 185% to reach a new yearly high of $0.38. This price level is just a few cents below its all-time high of $0.394 that was reached by the end of the 2017 ICO mania.    Aave Skyrockets 185% Throughout July 2020. (Source: TradingView) Given the substantial gains that Aave has posted, different metrics anticipate that it is reaching an…

Here’s the Level Bitcoin Needs to Break to See a “Tesla Sized” Rally

Bitcoin’s boring price action seen throughout the past few months has caused its trading volume and liquidity to both dive lower. It appears that many traders are turning towards the more traditional markets to get their fix of volatility, with some equities like Tesla (TSLA) seeing massive rallies over the past couple of weeks. Although Bitcoin’s lackluster price action doesn’t appear to be letting up anytime soon, the cryptocurrency may eventually see a rally similar to that posted by TSLA. That being said, one analyst is noting that there is…

Analyst: Bitcoin Looks Exactly As It did Prior to 2017’s 2,000% Rally

Multiple analyses have shown that Bitcoin looks primed to see a macro rally despite the ongoing uncertainty and lack of volatility. Related Reading: BTC Just Confirmed a Signal That Preceded Historical 5,000% Rallies Bitcoin Looks Extremely Similar to the Start of Previous Macro Rallies According to a cryptocurrency trader, the simple chart below explains why he is currently bullish on Bitcoin. It shows the asset’s macro price action with annotations of the halving and key cycle events. In sharing the chart, the trader is suggesting that Bitcoin currently looks almost exactly…

Here’s Why BTC Could Rally Above 100 SMA

Bitcoin is struggling to clear the main $9,200 resistance area against the US Dollar. BTC is likely to start a strong rally if it clears the $9,200 resistance and the 100 SMA (H4). Bitcoin is facing a strong resistance near the $9,200 level and the 100 simple moving average (4-hours). The price could start a strong rally if it settles above the $9,200 barrier. There is a significant breakout pattern forming with resistance near $9,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair must…

Stellar (XLM) Leaves XRP in the Dust with Latest Rally; Will It Last?

Stellar (XLM) has been caught within the throes of an intense uptrend throughout the past few days, and the cryptocurrency’s momentum isn’t showing any signs of slowing down. This has allowed it to significantly outperform XRP – which is widely considered to be one of its main competitors. Analysts are now noting that this ongoing XLM uptrend is being driven in part by mounting hype from investors, as one indicator suggests that its social volume has seen a tremendous rise in recent weeks. As for whether or not it will…