Ripple (XRP) Turned ‘Sell’ On Rallies: Key Resistance Levels To Watch

Ripple is down close to 5% and it broke the key $0.1680 support zone against the US Dollar. XRP price is currently correcting higher, but it is likely to face hurdles near $0.1700. Ripple price declined below the $0.1720 and $0.680 support levels against the US dollar. A low is formed near $0.1620 and the price is currently correcting higher. There is a key bearish trend line forming with resistance near $0.1685 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is likely to face…

Despite 10% Crash, Bitcoin Price Still Has This Key Silver Lining

Bitcoin hasn’t performed all too well over the past 24 hours. After holding $6,700 for days on end, the cryptocurrency suddenly tanked on Friday evening, falling as low as $6,050 by the next morning, marking a decline of 10% from the daily highs. The cryptocurrency has yet to recover, remaining under $6,200 as of the time of this article’s writing. Despite this, BTC’s chart printed a bullish silver lining, one that may support it moving forward. Bitcoin Holds Crucial Moving Average, Boding Well For Bulls If you’ve been on Crypto…

Ethereum Is Showing Early Signs of Fresh Decline But 100 SMA Holds Key

Ethereum is struggling to gain bullish momentum above the $142 and $144 resistances against the US Dollar. ETH price could start a major decline if it breaks the $135 support. Ethereum is facing an uphill task as the bulls struggle near $135 against the US Dollar. The price is currently holding the $135 support and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $135 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is slowly gaining pace, but…

Bitcoin Near Key Fib Extension Resistance, Can Bulls Spark A New Rally?

Bitcoin is up more than 10% and it broke the key $6,400 resistance against the US Dollar. BTC price is now trading near the $6,650 resistance, above which it could surge to $7,000. Bitcoin is gaining traction and it recently climbed back above $6,200 against the US Dollar. The price is now trading above the $6,400 level, but struggling to clear the $6,650 resistance. Yesterday’s major contracting triangle was breached with resistance near $6,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely…

Ethereum Turns ‘Sell’ After This Key Technical Breakdown

Ethereum failed to continue above the $138 and $140 resistance levels against the US Dollar. As a result, ETH price declined below $130 and it is now trading in a bearish zone. Ethereum is down more than 8% and it broke the $128 support against the US Dollar. There was a key breakdown noted after the price was rejected near the $140 area. There is a connecting bearish trend line forming with resistance near $129 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is also down…

Bitcoin Price Holds Key $5.9K Support, Avoiding a Retest of Recent Lows

As the Coronavirus pandemic continues to unfold, markets, both traditional and crypto, remain highly unpredictable. Even gold has failed to provide safety for investors and Bitcoin is undergoing a demanding test as a new asset class in an unprecedented health and financial crisis. Crypto market daily performance. Source: Coin360 As traditional markets gear up for another week of turbulent trading, volatility is expected to return to the crypto market as well. However, with rumours of U.S. stock trading halting completely, it’s hard to say how the crypto market will behave…

Ethereum Bulls Aim Key Bullish Break Above $150 and 100 SMA

Ethereum started an upside correction above the $130 resistance against the US Dollar, similar to bitcoin. However, ETH price is facing a few key hurdles near $150 and the 100 SMA (H4). ETH price is currently trading nicely above the $120 and $125 support levels against the US Dollar. The price is likely to move higher in the short term towards the $150 resistance. There is a key bullish trend line forming with support near $126 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely…

Key Government Figure Says Japan Needs a Digital Yen — and Fast

Even amid the financial turmoil caused by the coronavirus outbreak, countries are continuing to consider the adoption of a central bank digital currency (CBDC). In an exclusive interview with Cointelegraph Japan, Kozo Yamamoto, Liberal Democratic Party (LDP) Member of the House of Representatives and a former official at the Ministry of Finance, argued that Japan should implement a CBDC — and fast.  Balancing a digital yen with fiat currency A key figure behind ‘Abenomics’, Yamamoto referred to the three traditional roles of money — as a medium of exchange, store…

Here’s Why Bitcoin’s 15% Rally Could Fail Near The Key $6,500 Barrier

Bitcoin is up more than 15% and it broke the $6,000 resistance against the US Dollar. However, BTC price is now facing a huge barrier near the $6,400 and $6,500 levels. Bitcoin managed to rise above the $5,800 and $6,000 resistance levels against the US Dollar. The price is up more than 15% and it is now approaching the key $6,500 resistance. There is a major bearish trend line forming with resistance near $8,000 on the daily chart of the BTC/USD pair (data feed from Kraken). The bulls are likely…

Ethereum Rallies 15% To Test Key Downtrend Resistance, Bears Strength Tested

Ethereum is up more than 15% and it broke the $130 resistance area against the US Dollar. ETH price is now facing a few important downtrend resistances near $142 and $145. Ethereum is gaining traction and it recently surged above $130 and $135 against the US Dollar. The bears are now defending more gains above the $140 and $142 levels. There is a connecting bullish trend line forming with support near $126 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is also up more than 15%…