Cryptocurrencies / Page 16

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 [..]

Technical Analysis – BTCUSD consolidates after advance pauses

Posted on January 19, 2023 at 2:51 pm GMT

BTCUSD (Bitcoin) edged higher after breaking above its prolonged sideways pattern in early 2023. However, the king of cryptocurrencies is currently trading within a range as its rebound got rejected at the four-month high of 21,640. The momentum indicators currently suggest that the recent rally could be overstretched as both the RSI and the stochastic oscillator are currently well within their overbought territories. Hence, a potential downside correction may be on the cards. Should buying pressures persist, the digital coin could test [..]

Bitcoin notches 8-day winning streak to reclaim $18,000 – Cryptocurrency News

Posted on January 12, 2023 at 4:07 pm GMT

As 2023 unfolds, Bitcoin and most major altcoins are extending their slow but steady advance, closely tracking stock markets’ performance. On Thursday, the king of cryptocurrencies jumped above the $18,000 mark for the first time since mid-December and is on track to expand its eight-day gaining streak, which is the largest since July 2021. Much of this positivity is attributed to emerging signs that inflationary pressures are subsiding, potentially enabling the Fed to execute a soft landing. Cryptos fare well [..]

Technical Analysis – ETHUSD marches higher to test 200-day SMA

Posted on January 12, 2023 at 12:54 pm GMT

ETHUSD (Ethereum) has been trading within a tight range after finding its feet at the four-month low of 1,071 in early November. In the near term, the price managed to exit its sideways pattern and it is currently battling with the 200-day simple moving average (SMA). The momentum indicators currently suggest that the recent rally could be overstretched as both the RSI and the stochastic oscillator are currently well within their overbought territories. Hence, a potential downside correction may not be off [..]

Technical Analysis – BTCUSD fails to break above 200-SMA

Posted on January 5, 2023 at 1:18 pm GMT

BTCUSD has been experiencing a prolonged period of consolidation in the four-hour chart, with the price failing to escape its narrow range. Since the beginning of 2023, the cryptocurrency has been attempting a rebound, but its advance has been repeatedly held down by the 200-period simple moving average (SMA). The momentum indicators currently suggest that near term risks are tilted to the upside. Specifically, the RSI is pointing upwards above its 50-neutral mark, while the stochastic oscillator is set to [..]

Cryptocurrencies start off the year on the right foot, outlook unchanged– Cryptocurrency News

Posted on January 4, 2023 at 2:45 pm GMT

Bitcoin and most major altcoins breathed a sigh of relief as 2022, which was a bruising year for crypto markets, came to an end. Last year, Bitcoin prices declined by a whopping 65%, while the total market capitalization of the crypto universe slumped from around $2.3 trillion to slightly below $800 billion. Looking forward, the negative macroeconomic conditions and systemic failures that led to the capitulation of digital coins seem unlikely to abate soon. Thus, are there any signs of [..]

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