Cardano Price Hits 2020 Top Following Network Upgrade – Will the Rally Sustain?

ADA, the native token of Cardano, established a new 2020 top on Wednesday. The eighth-largest cryptocurrency surged to $0.097 for the first time in 13 months. The latest gains came as a part of a broader uptrend that began in March 2020 but received an additional boost from Cardano’s network upgrade news. Cardano is going to the moon before its top crypto competitor Bitcoin. The blockchain platform’s native asset ADA reached its year-to-date high on Wednesday. As of 2300 UTC, the ADA/USD exchange rate topped at $0.097, its highest since…

Ripple (XRP) is Showing Early Signs of Fresh Rally, But $0.18 is the Key

Ripple is consolidating above the $0.1720 support zone against the US Dollar. XRP price seems to be preparing for a fresh rally, but it must surpass $0.1800 for a sustained upward move. Ripple is slowly rising and it is currently trading above $0.1750 against the US dollar. The price is likely to face hurdles near $0.1780, $0.1800, and the 100 hourly SMA. There is a major bearish trend line forming with resistance near $0.1760 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start…

Here’s Why 100 SMA Could Spark New Rally

Bitcoin is consolidating above the $9,100 level against the US Dollar. BTC could start a strong increase towards $9,500 as long as it is above the 100 hourly SMA. Bitcoin is currently trading in a contracting range below the $9,300 resistance. The price is holding the $9,000 support and trading above the 100 hourly simple moving average. There is a crucial contracting triangle forming with resistance near $9,160 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either rally above $9,200 or it might…

Derivatives Traders May Have Manipulated COMP Rally

A number of analysts have suggested the meteoric price performance of the Compound Governance Token (COMP) may have been orchestrated using derivatives. After initially changing hands for approximately $80 each upon its June 18 listing on Poloniex, COMP quickly rallied 500% to post highs above $380 June 21 as news of a Coinbase listing appeared to entice buyers. COMP/USDT on Poloniex, 1hr chart: TradingView Since the high, COMP has shed 34% of its value and is currently trading for $253.  Was COMP’s rally driven by organic demand? In a June…

Chainlink (LINK) Near New All-Time High — Here’s 3 Reasons for the Rally

Chainlink (LINK), a smart contract blockchain network, is nearing an all-time high after the altcoin broke out today, notching a 11% gain at the time of writing. The altcoin first hit a record high at $5.10 in July 2019 before crashing to $1.35 during the Black Thursday marketwide correction on March 12. Over the past two weeks LINK has gained 33% and if the price pushes above its previous all time high there is room for price discovery. Crypto market daily performance. Source: Coin360 Three factors likely triggering LINK’s upsurge…

PayPal Bitcoin Rumor Boosts $12K BTC Price Rally Chances

Bitcoin (BTC) coming to PayPal and Venmo may be just a rumor, but some of the cryptocurrency’s best-known names are turning bullish. As the news hit that the payment processor was allegedly planning crypto buying and selling for its 305 million users, BTC/USD spiked to test resistance at $9,600. Keiser: PayPal will fuel “global hash war” Despite PayPal declining to confirm its plans, a wave of optimism has since flooded social media, with various figures welcoming the move while highlighting its irony. “Slowly, then suddenly,” the @Bitcoin Twitter account summarized.…

Bitcoin Cash Trading Near Inflection Point, 100 SMA Could Trigger New Rally

Bitcoin cash price is recovering from the $225 support zone against the US Dollar. BCH is slowly gaining traction, but it is facing a strong resistance near the $240 and $242 levels. Bitcoin cash price is slowly correcting higher above $235 against the US Dollar. The price is likely to face a crucial hurdle near the $240 resistance zone. There is a key bearish trend line forming with resistance near $242 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair must clear the $242 resistance…

There’s a $10+ Million Sell Wall At $9,400 Preventing a Bitcoin Rally

For the umpteenth day in a row, Bitcoin has stalled in the low-$9,000s. Bulls and bears have found themselves at an impasse, with neither side forming a trend as there is also indecision in the equity market. Bears may soon take the high ground as a trader has noted that Bitcoin is approaching a multi-million-dollar sell wall poised to slow and maybe even stop any rally. Related Reading: Ethereum Could Soon “Rally Hard” as DeFi Hits Escape Velocity: Fund Manager There’s a Big Bitcoin Sell Wall Preventing A Rally According to…

Ethereum Could Soon “Rally Hard” as DeFi Hits Escape Velocity: Fund Manager

The past few days and weeks have seen Ethereum’s decentralized finance ecosystem erupt higher. As Camila Russo, a former Bloomberg journalist turned Ethereum publicist, accentuated this when she noted on June 19th that the past week has seen the value of tokens locked in DeFi applications surge by 40% to $1.4 billion. Some are skeptical that the gains seen in DeFi will spill over to ETH. Cryptocurrency investor and commentator Humboldt Capital, for instance, wrote on June 14th: “An investment thesis for ETH centered on continued growth of DeFi, is like advocating…

VeChain Ready for a Correction, 600% Bull Rally Reaching Exhaustion

Key Takeaways VeChain may soon become another beneficiary of the “Coinbase Effect” as the American exchange considers listing VET However, several technical indexes suggest that VET is overdue for a correction If validated, the blockchain-based supply chain management token could drop to $0.007 or even $0.006 Share this article VeChain is trending up as the utility of its technology continues to expand across different sectors, but different indicators spell trouble. VeChain’s Traceability Solution Expands Blockchain-based supply chain management token VeChain has enjoyed an impressive rally in the last three months.…