Bitcoin Crypto News

TA: Bitcoin Price Trims Gains, Why BTC Could Dive To New Monthly Low

Bitcoin failed to stay above the $20,000 resistance against the US Dollar. BTC is sliding and might even break the $18,250 support zone. Bitcoin failed to stay above the $20,000 resistance and started a fresh decline. The price is trading below $19,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $19,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower below the $18,250 support zone in the near term. Bitcoin Price Restarts Decline Bitcoin price attempted a decent upward move above the $19,500 resistance. BTC even climbed above the $20,000 resistance and the 100 hourly simple moving average. However, the crypto market faced a fresh selling interest after the US Dollar regained strength. As a result, bitcoin price topped near the $20,383 level and started another decline. There was a sharp move below the $20,000 level. Besides, there was a break below a key bullish trend line with support near $19,450 on the hourly chart of the BTC/USD pair. The pair declined below the 61.8% Fib retracement level of the upward move from the $18,645 swing low to $20,383 high. It is now trading below $19,000 and the 100 hourly simple moving average. An immediate support on the downside sits near the $18,600 level, with a bearish angle. On the upside, an immediate resistance is near the $19,000 level. Source: BTCUSD on TradingView.com The next major resistance sits near the $19,200 zone and the 100 hourly simple moving average. A close above the $19,200 level might start a decent increase. In the stated case, the price could rise towards $19,500. Any more gains might lead the price higher towards the $20,000 resistance zone. More Losses in BTC? If bitcoin fails to recover above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $18,500 zone. The next major support is near the $18,250 zone. It is near the 10236 Fib extension level of the upward move from the $18,645 swing low to $20,383 high. Any more losses might call for a drop towards the $17,500 support zone in the coming sessions. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $18,500, followed by $18,250. Major Resistance Levels – $19,000, $19,200 and $20,000.

Crypto News

Cardano Price Surges, Will The Bulls Hold The Recovery?

Cardano price has been pushed up on its chart by the bulls at the time of writing. In the past day, Cardano moved up 2%. Over the last week, the price action of the altcoin wasn’t positive as it lost most of the gains in the week. Continued buyer recovery could push ADA past its next resistance level. At the time of writing, however, ADA was trading sideways. The altcoin has remained sandwiched between $0.50 and $0.44, respectively, over the past couple of weeks. Although buying strength tried to recover on its chart, selling strength was still dominating at the time of writing. The support zone for Cardano price rests between $0.44 and $0.40, respectively. Cardano has been one of the altcoins that have moved against the tide. Bitcoin, however, showed signs of appreciation over the last 24 hours. ADA bulls can quickly fade out if the coin’s buying strength doesn’t move into the positive zone. Cardano Price Analysis: One Day Chart ADA was trading at $0.46 at the time of writing. Over the last 24 hours, the coin broke past one of its resistance levels. The immediate resistance mark for Cardano was $0.49. If the bulls manage to topple over the $0.49 price level, then the bulls can stay put for a longer time. If buyers don’t come forward, Cardano price will fall to $0.43 and then below the $0.40 mark. The amount of the altcoin traded in the past session declined, despite a rise in buying strength. This signified the dominance of the sellers in the market. Technical Analysis The altcoin displayed signs of recovery on the one-day chart. Technical indicators pointed toward the bulls taking over. At the time of writing, the Relative Strength Index was below the half-line, indicating that buying pressure remained greater than selling pressure. Cardano price was below the 20-SMA line, and that signified less demand as sellers were driving the price momentum in the market. With a push from the buyers, ADA could travel above the 20-SMA and 50-SMA lines, invalidating the bearish thesis. Related Reading: Bitcoin Price Slips Below $19,000, Vital Trading Levels To Look Out For ADA’s bulls have still not gained momentum on the one-day chart. As long as buyers don’t overpower sellers’ strength, the bulls will not be able to push the price of the altcoin above the $0.49 mark. The Moving Average Convergence Divergence indicates the price momentum and price action of the altcoin. The MACD underwent a bearish crossover and formed red histograms, which were sell signal for the coin. The Directional Movement Index measures the overall price direction. DMI was negative as the -DI line was above the +DI line. The Average Directional Index was moving up towards the 20 mark, which is a sign of the current price action gaining momentum. Related Reading: Uniswap Price Loses Momentum, Are The Bears Back? Featured image from UnSplash, Chart: TradingView.com

Bitcoin Crypto News

Singapore’s DBS Bank Expands Its Crypto Trading Service For 100K Customers

As per Friday’s announcement through Bloomberg, Singapore state-owned DBS Bank has expanded its crypto trading service to more its 100,000 investors linked with its DBS Treasures section. The DBS’ clients will trade virtual currencies through its member-only decentralized exchange, DDEx. The service initially allows customers to trade four top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), […]

Altcoins Analysis Bitcoin Blockchain

5 leading web3 Entrepreneurs from Australia and New Zealand share their exponential success and advice

5 leading web3 Entrepreneurs from Australia and New Zealand share their exponential success and advice

These following entrepreneurs have not only scaled significant opportunities in the web2 market but have also transitioned and applied their genius in the web3 and crypto space. Already in just a short few years and months, they have created incredible success and communities. Five of the fastest upcoming names share their insights into web3 and […]

Altcoins Bitcoin Ethereum

Crypto Trader Predicts XRP Could Erupt by Over 80%, Updates Outlook on Bitcoin (BTC) and Two Altcoins

A widely followed crypto analyst is predicting a massive surge for Ethereum (ETH) competitor XRP while updating his outlook on Bitcoin (BTC) and two other altcoins. Pseudonymous trader Altcoin Sherpa tells his 183,000 Twitter followers that XRP should rise to $0.60 before ultimately shooting up to $0.87. “XRP: Go to $0.60 and then $0.87 if […]

The post Crypto Trader Predicts XRP Could Erupt by Over 80%, Updates Outlook on Bitcoin (BTC) and Two Altcoins appeared first on The Daily Hodl.