Cryptocurrency volumes have dipped to a two-month low, with levels resembling those seen earlier this year during April’s downtrend. But what does this mean for the market in general?
Key PointsBitcoin price failed to move above the $6,600 resistance and it currently under pressure against the US Dollar.There is a significant bearish trend line formed with resistance at $6,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair must move above the $6,500 hurdle...
Key HighlightsADA price started a fresh downside move from the $0.1750 swing high against the US Dollar (tethered).There is a crucial bearish trend line forming with resistance at $0.1600 on the hourly chart of the ADA/USD pair (data feed via Bittrex).The pair may perhaps continue to move down towards...
Key HighlightsRipple price declined from the $0.5600 swing high with bearish moves against the US dollar.There is a key bearish trend line in place with resistance near $0.5300 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair may perhaps decline further and it could break...
Key HighlightsETH price was not able to move above the $510 resistance and is currently under pressure against the US Dollar.There was a break below a crucial bullish trend line with support at $500 on the hourly chart of ETH/USD (data feed via Kraken).The pair remains at a risk...
Key PointsBitcoin cash price struggled to settle above the $900 level and declined against the US Dollar.There is a major bearish trend line formed with resistance at $850 on the hourly chart of the BCH/USD pair (data feed from Kraken).The pair is currently finding it hard to hold an...
Key PointsBitcoin price is currently consolidating around the $6,500 level against the US Dollar.The BTC/USD pair is currently attempting an upside break above a declining channel with resistance at $6,500 on the 4-hours chart (data feed from Kraken).The pair may move a few points higher, but there are many...
Key HighlightsETH price is struggling to move higher above the $510 and $520 resistance levels against the US Dollar.There is a key bearish trend line in place with resistance near $505 on the 4-hours chart of ETH/USD (data feed via Kraken).The pair remains at a risk of more losses...
Some cryptocurrency community members believe that a piece of historical technical analysis indicates that Bitcoin’s price could be headed upwards real soon.Historical Technical Analysis Methods: Wyckoff MethodAccording to a post put together by Reddit user, “CryptoPorto,” Bitcoin’s price could be mirroring the hypothetical chart of a strong price reversal.The...
Key PointsBitcoin price started an upward correction from the $6,131 low against the US Dollar.There was a break above a major bearish trend line with resistance at $6,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair could move further above the $6,600 level if...