Ethereum Price Technical Analysis – ETH/USD Holding 100 SMA

Key Highlights ETH price is moving nicely above the $700 support and the 100 hourly simple moving average. There is a new connecting bearish trend line forming with resistance at $738 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair is also forming a major horizontal support above the $665 level. Ethereum price is struggling to move higher against the US Dollar and Bitcoin. ETH/USD needs to break $738-740 to gain upside momentum. Ethereum Price Resistance There was a nice upside move in ETH price on a…

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Bitcoin Cash Price Technical Analysis – BCH/USD Preparing for Break

Key Points Bitcoin cash price is preparing for the next move with support on the downside at $2300 against the US Dollar. There is a crucial bearish trend line forming with current resistance at $2400 on the hourly chart of BCH/USD (data feed from Kraken). The pair might soon make the next move either above $2400 or below $2300 in the near term. Bitcoin cash price is consolidating above $2200-2300 against the US Dollar. BCH/USD may soon break higher above the $2400 resistance for more gains. Bitcoin Cash Price Upside…

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Bitcoin Price Slightly Recovers as Ripple Market Cap Drops by $13 Billion

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. The bitcoin price has slightly recovered to above $13,500 as the market valuation of Ripple dropped by $20 billion overnight. Major Shift in Trend Since December 30, Ripple has regained $7 billion in market cap and is still demonstrating a valuation significantly larger than Ethereum, the third most valuable cryptocurrency in the market. Over the past few days, the entire cryptocurrency market has experienced a drastic shift in trend. Newly introduced cryptocurrencies like Cardano have demonstrated rapid…

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The Year Cryptocurrencies Seized the Mainstream Spotlight

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Two Thousand Seventeen will go down in the history books as a year cryptocurrency made tangible inroads in mainstream finance and commerce, driven by the 1400% rise in bitcoin’s price over the year. Regulatory measures, worrisome network forks and warnings from naysayers could not stop the crypto momentum as consumers and businesses by the millions became first-time cryptocurrency users. Source: CCN As bitcoin’s price rose steadily throughout the year, the upward pace gained momentum in the fourth…

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Bitcoin Price Weekly Analysis – BTC/USD Remains at Risk

Key Points Bitcoin price recovered recently, but it failed to move above the $16,400 resistance against the US Dollar. There is a crucial bearish trend line forming with current resistance at $14,200 on the 4-hours chart of BTC/USD (data feed from SimpleFX). The pair recently broke a connecting bullish trend line at $13,500 and made a downside move. Bitcoin price is currently under pressure below $15,000 against the US Dollar. BTC/USD remains at a risk of more declines in the near term. Bitcoin Price Decline After a sharp downside move,…

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Ethereum Price Weekly Analysis – ETH/USD To Surge Higher?

Key Highlights ETH price is trading in a range below the $715 resistance area against the US Dollar. There is a major contracting triangle forming with current support at $665 on the 4-hours chart of ETH/USD (data feed via SimpleFX). The pair might soon make the next move and either break $715 or trade below $665. Ethereum price is consolidating in a range against the US Dollar and Bitcoin. ETH/USD may soon attempt the next upside break above $715. Ethereum Price Resistance After a nasty decline below the $500 level,…

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Ripple Briefly Achieves $100 Billion Market Cap, Can it be Justified?

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Ripple, the cryptocurrency that was designed to handle large volumes of transactions for banks and financial institutions, recently surpassed Ethereum to achieve a staggering $100 billion market cap. Justification of Ripple’s Market Cap However, some experts including Ryan Selkis of ConsenSys revealed that it is difficult to justify the market cap of Ripple at this phase of development and adoption, given that not many banks out of the hundreds of Ripple’s partners are actually clearing large volumes…

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Bitcoin Price Dips Below $13,000 Again, as Ripple Records Massive Gains

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. The bitcoin price has dipped below $13,000 for the second time in December, following the December 23 correction which led the price of bitcoin to plummet to $11,500. Bitcoin Dominance Index at 37.9 Percent Analysts have attributed the recent decline in the price of bitcoin to the unexpected surge in the valuation of several cryptocurrencies including Ripple and Cardano. Over the past 24 hours, the market valuation of Ripple has increased by nearly 100 percent, surpassing $100…

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El-Erian Predicts Bitcoin Crash if Savvier Investors Sit Out Correction

While bitcoin’s price has recovered and held almost half of what it lost last Friday, one commentator believes the bitcoin market has reached a crucial juncture. After the markets saw an epic drop of 45 percent in bitcoin’s price on Dec 22 — down to $10,800, taking nearly every other cryptocurrency down with it, the price has since rebounded somewhat. Meanwhile, the chief economic advisor of Allianz SE and former CEO of Pimco Mohamed El-Erian has asked whether or not this could be a make or break moment for the…

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South Korea to Tighten Bitcoin Exchange Rules Amid ‘Speculative’ Boom

The South Korean government announced today it will move to prohibit domestic cryptocurrency exchanges from allowing users to make transactions through anonymous accounts, local news sources report. As part of what appears to be a series of updates designed to improve oversight of industry practices, the government will also seek to bar banks from issuing new virtual accounts to cryptocurrency exchanges. According to the South Korean news agency Yonhap, the announcements were made by Hong Nam-ki, the minister of the Office for Government Policy Coordination, after discussion with vice ministers…

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