Bitcoin Price Drops to Key Level as 100% Rally Since Crash Looks Shaky

All markets have been showing a strong surge in the past weeks, including Bitcoin (BTC) and cryptocurrencies. The price of Bitcoin has seen a 100% surge in a matter of three weeks since the crash. However, is such a rally sustainable in the current economic environment? And what is needed for a further continuation upwards in the cryptocurrency markets? Crypto market daily performance. Source: Coin360 The price of Bitcoin loses 3-week old trendline The price of Bitcoin has been seeing a significant rally since the massive crash on March 12,…

Bulls Beware: Bitcoin Could Dive After This Key Technical Breakdown

Bitcoin is showing a few bearish signs below the $7,400 resistance area against the US Dollar. BTC price is currently declining and it could extend its weakness towards $7,100 or $6,800. Bitcoin is struggling to clear the $7,400 and $7,500 resistance levels against the US Dollar. The bears are slowly taking control and they are likely aiming a test of $7,000. There was a break below a crucial bullish trend line with support near $7,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could…

Ripple (XRP) Retreats From Key Resistance But Bulls Are Comfortable

Ripple is up close to 10% and it broke the $0.2000 resistance against the US Dollar. However, XRP price struggled to gain strength above $0.2025 and it is currently correcting gains. Ripple price is showing a lot of positive signs and it rallied above the $0.1880 resistance against the US dollar. There was a sharp rally above the $0.2000 barrier, but the bulls failed to remain in action above $0.2025. There is a key bullish trend line forming with support near $0.1940 on the hourly chart of the XRP/USD pair…

A Key Trend Is Forming For Ethereum and A Swift Rally Could Occur

Ethereum is trading nicely above the key $140 support zone against the US Dollar. ETH price is showing a few positive signs and it could attempt to rally above $145. Ethereum is currently consolidating above the $140 support area against the US Dollar. The price is still struggling to gain bullish momentum above the $145 resistance. There was a break above a major bearish trend line with resistance near $142 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong increase as long as…

Bitcoin Price Now in a ‘Key Spot’ to Conquer $6.9K Before Weekly Close

As the weekend began Bitcoin (BTC) price traded in a relatively tight range after making a second attempt at $7,000 on April 4. The digital asset surged to $6,988 before pulling back to the $6,800 range for the remainder of the day.  As Bitcoin spent Saturday trading sideways, the majority of the top-ten altcoins posted marginal gains. Ether (ETH) gained 1.57%, Litecoin (LTC) added 1.02%, and Binance Coin (BNB) managed to gain 2.31%.  Crypto market daily price chart. Source: Coin360 At the time of writing, the price continues to hold…

What’s Next For Bitcoin After Brutal Rejection At Key $7,000 Price Point?

Just two hours ago, Bitcoin started to rally after trading at $6,700 for most of Saturday morning and afternoon, rallying as high as $7,020 in a vertical move that brought the asset 4%. But, as fast as the cryptocurrency rallied, it was rejected, returning to where it began just minutes later — a loss for bulls hoping BTC could establish a higher high on the daily chart. Joe McCann  — a noted crypto trader and an AI/Cloud specialist at Microsoft — remarked that the recent explosive move is most likely…

Three Key Reasons Why Bitcoin Could Plunge Below $5,000 in April

Bitcoin prices plunged sharply over the first three months of the year as concerns about the global coronavirus pandemic and its impact on the economy grew. The benchmark cryptocurrency closed the year’s first quarter at a 10.53 percent loss, trading at circa $6,424 on Coinbase as the marked headed into April session. At its lowest, bitcoin was changing hands for a mere $3,858 per token. But its sharp rebound from there led prices up by as much as $6,090. BTCUSD in a giant downtrend cycle | Source: Yahoo Finance The…

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…