Cryptocurrencies / Page 15

Technical Analysis – ETHUSD retraces lower after posting fresh 6-month high

Posted on March 16, 2023 at 1:11 pm GMT

ETHUSD (Ethereum) experienced a significant correction after its 2023 rally stalled around the 1,740 zone in mid-February. However, the digital asset managed to stage a solid comeback, generating a fresh six-month high of 1,780 before paring some gains. The momentum indicators currently suggest that the bullish forces are in control. Specifically, the stochastic oscillator is ascending, while the RSI has flatlined above its 50-neutral mark. If the price edges higher, the recent six-month peak of 1,780 could act as initial resistance. Conquering this [..]

Bitcoin dips below $20,000 amid mounting systemic and macroeconomic risks – Cryptocurrency News

Posted on March 10, 2023 at 12:57 pm GMT

Bitcoin has declined sharply in the past few days, dropping beneath the $20,000 threshold on Friday for the first time in nearly two months. This selloff is attributed to the fallout from the collapse of the crypto-friendly bank Silvergate, speculations over increased regulatory oversight and worsening macroeconomic conditions for risky assets. Are cryptos on the verge of shedding all their 2023 gains? Crypto space under severe pressure After a vibrant start to the year for digital assets, investors have been coming up [..]

Technical Analysis – ETHUSD extends retreat below 50-day SMA

Posted on March 9, 2023 at 9:43 am GMT

ETHUSD (Ethereum) has staged a significant rally since the beginning of the year, posting a fresh five-month high of 1,740 in mid-February. However, the digital asset has come under pressure lately, with the price crossing below its 50-day simple moving average (SMA) for the first time since January 4. The momentum indicators currently suggest that the bearish forces are reigning supreme. Specifically, the stochastic oscillator is descending within its 20-oversold zone, while the RSI is ticking downwards below its 50-neutral mark. To the [..]

Bitcoin slides as Silvergate jitters contaminate crypto markets – Cryptocurrency News

Posted on March 3, 2023 at 12:52 pm GMT

On Friday, the two largest cryptocurrencies by market capitalization, Bitcoin and Ethereum, declined more than 5% early in the Asian trading session as investors digested the fallout from a potential collapse of a US crypto-friendly bank called Silvergate. This event is added to the huge list of systemic failures that continue to negatively impact the cryptocurrency space. Is the 2023 rally in cryptos starting to fade? Another day at the office Bitcoin retreated to its lowest level in two weeks, [..]

Technical Analysis – BTCUSD consolidates as advance pauses

Posted on February 23, 2023 at 2:33 pm GMT

BTCUSD (Bitcoin) has been trending upwards since the beginning of the year, posting a 10-month high of 25,250 on Tuesday. However, the king of cryptocurrencies seems to be lacking the necessary momentum to march higher and has been trading sideways for the past few daily sessions. The momentum indicators are depicting this loss of positive momentum for the digital asset. Specifically, the MACD histogram dropped beneath both zero and its red signal line, while the stochastic oscillator is sloping downwards [..]

Technical Analysis – ETHUSD edges lower, bulls continue to vie for a breakout above 1,700

Posted on February 17, 2023 at 9:17 am GMT

ETHUSD is edging lower today following three days of advances that pushed it momentarily above the 1,700 area. It remains inside the nicely shaped 1,500-1,710 rectangle that has formed since January 16, in line with the 23.6% Fibonacci retracement level of the April 4, 2022 –June 18, 2022 downtrend of 1,510. ETHUSD made unsuccessful attempts to break down the rectangle on both the downside and upside, but the market appears to be in a fine balance at the moment. Market participants [..]

Technical Analysis – ETHUSD breaks upward sloping trendline

Posted on February 10, 2023 at 11:37 am GMT

ETHUSD is moving sideways today following yesterday’s sizeable loss. It broke the January 4 upward sloping trendline, prompting the first decent correction since the start of the year. It is currently settling nicely inside the 1,500-1,700 rectangle that has formed since January 16, just above the 23.6% Fibonacci retracement level of the April 4, 2022 –June 18, 2022 downtrend of 1,510. The bears have failed to break this level on two separate occasions during January. The momentum indicators appear to [..]

Bitcoin jumps above $24,000 on dovish FOMC remarks – Cryptocurrency News

Posted on February 2, 2023 at 2:46 pm GMT

Bitcoin validated its strong 2023 performance by posting its best January since 2013, but it did not stop there as on Thursday it also managed to cross above the crucial $24,000 resistance region for the first time since last August. The main factor behind those gains was the slowdown in the Fed’s tightening pace coupled with dovish commentary by the Fed’s chair Jerome Powell. Technically, many cryptocurrencies are now trading in overbought levels as bullish forces do not seem to [..]

Bitcoin pares some gains after hitting fresh 5-month peak – Cryptocurrency News

Posted on January 27, 2023 at 12:42 pm GMT

Bitcoin has not only started the new year on the front foot, but also seems to be steadily extending its rebound as it is on track to post its strongest January performance since 2013. These latest gains have pushed Bitcoin prices to their highest levels in five months and could be attributed to mean reversion after a devastating year in which the king of cryptos lost around 64% of its value. Is this latest rally justifiable or are the January [..]

Bitcoin stabilizes above $20,000 despite recent weakness – Cryptocurrency News

Posted on January 20, 2023 at 12:49 pm GMT

Bitcoin and crypto markets in general have started 2023 on a solid note despite the recurring scandals that continue to haunt the sector. The king of cryptocurrencies posted a fresh four-month high of $21,642 on Wednesday after an impressive 14-day gaining streak, which was mostly driven by bets of a Fed slowdown amid signs of declining inflation and deteriorating macroeconomic conditions. Will this cautious optimism last or is this just another bear market trap? Cryptos shine in 2023 After a [..]

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