Bitcoin (BTC) Reaches Crucial Support At $7.4K, Larger Decline In Play?

Bitcoin price is down 6% and tested $7,400 (discussed in the medium term outlook) against the US Dollar. The price is showing no signs of a strong recovery and remains at a risk below $7,800. There is a key contracting triangle forming with resistance near $7,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). A daily close below $7,400 could open the doors for a push towards $6,500 (as discussed in the recent medium term outlook). Bitcoin price is declining heavily below $7,800 and $7,600 against…

Ethereum (ETH) Breaks Key Support, Trend Turns Super Bearish

Ethereum price is declining below the key $180 support against the US Dollar. Bitcoin price is down more than 2% and it also broke the $8,200 support area. Yesterday’s bearish trend lines are intact with resistance near $185 on the hourly chart of ETH/USD (data feed via Kraken). The price is currently flirting with the $178 support and it is likely to continue lower. Ethereum price is breaking down versus the US Dollar, similar to bitcoin. ETH price is likely to accelerate its decline towards the $170 and $166 support…

Bitcoin (BTC) Diving, Can Bulls Protect $8.2K Support?

Bitcoin price is extending losses and it recently broke $8,375 support against the US Dollar. The price is currently correcting, but upsides are likely to be capped by $8,500. Morning’s key bearish trend line is active with resistance near $8,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). Ethereum is still holding the $180 support area and ripple is trading in a range above $0.2520. Bitcoin price is showing signs of more losses below $8,500 against the US Dollar. BTC could drop towards $8,200 before a…

Bitcoin (BTC) Relatively Muted; Support Estimated Near $8.2K

Bitcoin price is trading below a few important resistances near $8,700 against the US Dollar. The price is somehow holding the $8,420 and $8,375 support levels. There is a major bearish trend line forming with resistance near $8,525 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently correcting higher, but sellers are likely to protect $8,575 or $8,660. Bitcoin price is consolidating below key resistances against the US Dollar. BTC could decline further, but the $8,200 support might protect sharp losses. Bitcoin Price…

Ethereum (ETH) Holding Crucial Support While Bitcoin Is Declining

Ethereum price is still struggling to climb above $186, $188 and $190 resistances against the US Dollar. The price is currently declining and it seems like it could retest the $180 support area. There are two major bearish trend lines forming with resistance near $186 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin is under a lot of pressure and it recently decline below the $8,500 support. Ethereum price is holding an important support versus the US Dollar, while climbing vs bitcoin. ETH price might retest the…

Ethereum (ETH) Price Weekly Forecast: Crucial Support At Risk

ETH price is facing a strong resistance near the $184 and $185 levels against the US Dollar. The price is trading above the key $178 support, which remains at a risk. There is a crucial bearish trend line forming with resistance near $186 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is currently declining and it might struggle to clear the $178 and $176 support levels. Ethereum price is showing bearish signs below $185 against the US Dollar, similar to bitcoin. ETH price remains at a…

Coinbase and Coinbase Pro plan to support multi-collateral DAI

On November 18th, Maker will be launching the multi-collateral DAI stablecoin, upgrading their current single-collateral DAI. Multi-collateral DAI introduces changes to the existing DAI stablecoin. In single collateral DAI (the current form of DAI), only Ethereum can be used as collateral when creating DAI. With multi-collateral DAI, both Ethereum and other ERC20 tokens can be used to create DAI, with eligible collateral types voted on by Maker token holders. Coinbase and Coinbase Pro plan to support multi-collateral DAI on December 2nd at 9 AM PST. At that time, we will…

Bitcoin Hovers Near Price Support as Long-Term Bear Cross Looms

View BTC is on the defensive and may face selling pressure in the run up to the bearish crossover of the 100- and 200-day averages. Prices will likely breach the 50-day average support near $8,550 and extend losses toward $8,000 in the short term. Confirmation of the bear cross may mark an interim bottom in BTC, according to historical data. A high-volume move above a three-month descending trendline, currently at $9,200, is needed to revive the bullish view. Bitcoin risks falling below key support near $8,550, with a widely followed bitcoin…

Ethereum (ETH) Holding Key Support But For How Long?

Ethereum price is trading nicely above the key $182 and $180 support levels against the US Dollar. The price is currently facing many resistances such as $187, $188 and $190. Recently, there was a break above a connecting bearish trend line with resistance near $185 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin is holding the $8,650 support, but it remains at a risk of more downsides. Ethereum price is still stuck in a broad range versus the US Dollar, while bitcoin is facing selling pressure. ETH…