3 reasons why Bitcoin price has not been able to rally back above $40K

The ongoing story for the past couple of months in the cryptocurrency market has been confusion on whether Bitcoin (BTC) is destined for another leg down or is finally ready to break out toward new highs. Bitcoin’s price history and data from previous corrections suggest that the current struggles for the top cryptocurrency could persist for a little bit longer due to the strengthening dollar, the possibility of decreasing economic stimulus and a slew of technical factors connected to Bitcoin’s price action. A strong dollar threatens Bitcoin’s recovery According to…

3 altcoins whose tweet volume spiked before a strong rally

On Crypto Twitter, a surge of attention directed at a coin often comes in response to dramatic price action. Quite naturally, rallying assets attract the attention of traders and take over Twitter conversations, which can also create positive feedback loops that further prop up the momentum. This is exactly what happened with some of the coins that saw a greater increase in average daily tweet volume this month, compared with the last. KuCoin Shares (KCS), which went up from $7.40 on July 4 to $14.20 on July 14, generated a…

Dogecoin Looks Primed to Enter New Rally

Key Takeaways Dogecoin has seen its market value drop by more than 77% over the past three months. The meme coin appears to be bound for an explosive rally. If buy orders continue to pile up, DOGE could target $0.34. Share this article Warren Buffett’s famous quote about being “greedy when others are fearful” seems to be alive in the cryptocurrency market. While the Crypto Fear and Greed Index sensed “extreme fear” in the markets, Dogecoin has surprised investors as it enters a nearly 80% rally.  Dogecoin Breaks Out Dogecoin…

Bitcoin price passes $32K with traders wary of ‘relief rally’ if resistance stays

Bitcoin (BTC) passed $32,000 later on July 16 as positive reactions over Bank of America’s (BoA) Bitcoin futures go-ahead continued. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin nears $32,300 point of interest  Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rising 1.4% on the day to hit new local highs of $32,150 on Bitstamp. The pair saw an abrupt reversal of trajectory on the BoA announcement, having previously tested $31,000 support repeatedly throughout the day. As such, a key zone to retake for potential bullish continuation, $32,300, was now…

Key altcoin price metric flashed bullish ahead of Axie Infinity’s parabolic rally

Axie Infinity (AXS) has had a rough week: On July 1, it was trading at just above $5. One week later and following two consecutive two-day rallies, the price was charging past $19. AXS price has since dropped between $18 and $19, yet the coin’s weekly stats are still outstanding: 118% against United States dollar and 119% against Bitcoin (BTC) in a week. As AXS sits on top of the seven-day price change chart, many traders are wishing that they could have known earlier in the week that the asset was…

Bitcoin Drops 6% In 24 Hours, Why This Might Trigger A Bullish Rally

Bitcoin price has been fluctuating highly in the last week. Amidst news of bitcoin whales stocking up on bitcoin, the price jumped up past $34,000. Briefly breaking $35,000 yesterday afternoon before coming down to continue trading n the $34,000 range again. But the past 24 hours have seen the coin take a good dip in price. Over the span of a day, bitcoin has lost over $2,000 from its price. This equates to about 6% of its price in the last 24 hours. Bitcoin price currently sits in the red…

Ethereum Gearing For Another Lift-Off, Why Rally Isn’t Over Yet

Ethereum started a fresh increase above the $2,300 resistance against the US Dollar. ETH price is likely to accelerate higher above the $2,400 and $2,500 resistance levels. Ethereum is showing a lot of positive signs above the $2,250 pivot zone. The price is now trading above $2,300 and the 100 hourly simple moving average. There was a break above a major contracting triangle with resistance near $2,330 on the hourly chart of ETH/USD (data feed via Kraken). The pair seems to be aiming a larger increase above the $2,400 resistance…

Bitcoin Consolidates Below $35K, What Could Trigger Fresh Rally

Bitcoin price is holding gains above the $33,000 support zone against the US Dollar. BTC could start a fresh increase as long as it is above the $33,000 zone. Bitcoin corrected lower, but the bulls remained active above the $33,000 zone. The price is now trading just below the $34,500 support and the 100 hourly simple moving average. There is a major contracting triangle forming with support near $33,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent increase if there…

Bitcoin Correcting Gains, What Could Trigger Fresh Rally

Bitcoin price is correcting gains from well above $35,000 against the US Dollar. BTC is likely to find a strong support near the $34,000 zone in the near term. Bitcoin started a downside correction from the $36,000 zone. The price is now approaching the $34,000 support and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $35,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to find a strong buying interest near…

Ethereum Remains Strong, Why ETH Could Rally Above $2.3K

Ethereum is trading in a positive zone above the $2,150 support zone the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,300. Ethereum is trading in a positive zone above the $2,100 and $2,150 support levels. The price is now trading above $2,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,140 on the hourly chart of ETH/USD (data feed via Kraken). The pair start a fresh rally…