Bear Revival? Bitcoin Risks Fall Below $8K After 3.5-Week Low

Bitcoin’s (BTC) bears have unraveled the minor rally in prices since Saturday and are now looking to pull the cryptocurrency below the $8,000 mark, the technical charts indicate. The bears’ comeback comes after bitcoin saw minor gains after the May 12 low of $8,204, but the bulls repeatedly failed to cut through the key falling trendline hurdle. As a result, bitcoin fell to a 3.5-week low of $8,100 on Bitfinex earlier today. As of writing, BTC is changing hands at $8,366 – down 4.7 percent in 24 hours. Daily chart The…

Read More

Bitcoin Cash, EOS Drop 13% as Crypto Market Sheds $30 Billion Overnight

Join our community of 10 000 traders on Hacked.com for just $39 per month. The cryptocurrency market has dropped by more than $30 billion overnight, from $408 billion to $377 billion. Major cryptocurrencies such as bitcoin, Bitcoin Cash, EOS, and Cardano dropped in the 5 to 13 percent region, with Bitcoin Cash and EOS dropping 11 percent and 13.5 percent respectively. Bitcoin Cash and EOS Traders have often described Bitcoin Cash investment as leveraged bitcoin trading because on both the upside and downside, Bitcoin Cash moves by larger margins. Throughout…

Read More

Bitcoin Price Watch: BTC/USD Made Sharp U-Turn

Key Points Bitcoin price failed to capitalize above $8,800 level and declined sharply against the US Dollar. BTC/USD broke this week’s ascending channel with support at $8,500 on the hourly chart (data feed from Kraken). The pair settled below a key support at $8,400 and the 100 hourly simple moving average. Bitcoin price made a sharp U-turn from $8,800 against the US Dollar. BTC/USD is now trading well below $8,500 with a few bearish signs. Bitcoin Price Analysis The past two days were mostly positive for bitcoin price above the…

Read More

Cardano Price Analysis: ADA/USD Could Revisit $0.2200

Key Highlights ADA price failed to move above the $0.2800 resistance and declined against the US Dollar (tethered). There was a break below an important bullish trend line with support at $0.2650 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair remains at a risk of more losses towards the $0.2300 and $0.2200 support levels. Cardano price declined substantially against the US Dollar and Bitcoin. ADA/USD is likely to decline further towards the next major support at $0.2200. Cardano Price Analysis There was no upside…

Read More

Ripple Price Analysis: XRP/USD Turned Short-term Bearish

Key Highlights Ripple price failed to move above the $0.7500 resistance area and declined against the US dollar. There was a break below this week’s ascending channel with support at $0.7200 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair declined below the $0.7000 support and moved back in a bearish zone. Ripple price traded below key supports against the US Dollar and Bitcoin. XRP/USD is now back in a short-term bearish trend below the $0.7000 support. Ripple Price Trend This week, we discussed about…

Read More