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Cryptocurrencies

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Technical Analysis – Ethereum quiet within a triangle range

Posted on September 15, 2022 at 7:45 am GMT

Ethereum (ETHUSD) has been in the red so far this week, gradually retreating after almost touching the 1,800 round level. Despite the soft negative mood, the short-term bias has not switched to the bearish side yet, as the second most popular crypto keeps trading within a symmetrical triangle. The momentum indicators are also reflecting a wait-and-see attitude among traders given the sideways trajectory in the RSI and the MACD. The 38.2% Fibonacci retracement of the latest upleg is currently canceling [..]

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Bitcoin bounces back after hitting 2-month low – Cryptocurrency News

Posted on September 9, 2022 at 10:24 am GMT

On Wednesday, Bitcoin fell below $19,000 for the first time since June, pressured by a significant drop in equity markets and the greenback’s persistent strength. However, the king of cryptocurrencies quickly recovered above the psychological $20,000, without any major positive developments backing this rebound except for some minor weakness in the US dollar. Is the recent price movement indicating that Bitcoin is trading near its bottom or is there more pain ahead? Macroeconomic picture deteriorates After taking a hard beating during [..]

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Technical Analysis – ETHUSD extends rebound but 50-day SMA caps advance

Posted on September 8, 2022 at 12:17 pm GMT

ETHUSD has been gaining some ground in the short-term after its latest decline came to a halt at the 1,420 region. However, the recent price recovery has been repeatedly held down by the ascending 50-day simple moving average (SMA). The momentum indicators suggest that near-term risks are tilted to the upside. Specifically, the stochastic oscillator is ascending near the 80-overbought area, while the RSI has jumped above its 50-neutral mark. Should positive momentum strengthen, the cryptocurrency could encounter initial resistance at [..]

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Technical Analysis – ETHUSD waits for some volatility

Posted on September 1, 2022 at 2:23 pm GMT

ETHUSD (ethereum) seems to be completing a symmetrical triangle within the 1,535 – 1,580 territory on the four-hour chart, formed by the resistance trendline that has been navigating the market to the downside since the August peak at 2,030 and the ascending trendline stretched from the previous low of 1,421. The sideways trajectory in the RSI and the MACD is reflecting a neutral bias, though with the former standing marginally above its 50 neutral mark and the latter holding slightly above its red [..]

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Bitcoin reclaims $20,000 after Jackson Hole Bloodbath – Cryptocurrency News

Posted on August 31, 2022 at 3:29 pm GMT

On Friday, Bitcoin and major altcoins plummeted but did not approach their 2022 lows, after Jerome Powell restated the Fed’s commitment to tame inflation at any cost and warned against premature loosening at the Jackson Hole symposium. Surprisingly, Bitcoin exhibited some resilience and quickly clawed back above the $20,000 level, despite the widespread stock market weakness. Do these indications suggest that crypto markets have hit a tough floor? Hawkish Fed weighs on cryptos Despite the growing optimism in the past [..]

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Crypto markets consolidate ahead of Jackson Hole – Cryptocurrency News

Posted on August 26, 2022 at 10:30 am GMT

Bitcoin and most altcoins have been trading within a tight range during the past week as crypto investors and markets are eagerly awaiting Jerome Powell’s speech at the Jackson Hole symposium on Friday. The Fed is expected to provide new clarity on the pace and timing of its monetary policy pathway as well as its latest outlook on inflation over the next few months. Therefore, as Bitcoin’s correlation with US equities remains high, any hawkish or dovish surprises could have [..]

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Technical Analysis – BTCUSD regains ground after sharp drop

Posted on August 25, 2022 at 8:14 am GMT

BTCUSD (Bitcoin) has been experiencing a downside correction after its recent advance failed to jump above the 25,200 barrier. Although the cryptocurrency managed to find its feet and recoup some losses in the last few daily sessions, it is still trading beneath its 50-day simple moving average (SMA). The short-term oscillators currently suggest that bearish forces are in control. Specifically, the MACD histogram is currently below both zero and red signal line, while the RSI is hovering below its 50-neutral [..]

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Technical Analysis – ETHUSD aims for recovery as 50-day SMA caps decline

Posted on August 24, 2022 at 1:50 pm GMT

ETHUSD (Ethereum) has been experiencing a downside correction after its short-term uptrend failed to cross above the 2,030 region. However, the cryptocurrency found strong support at its 50-day simple moving average (SMA) and is currently attempting to rebound. The momentum indicators suggest that bullish forces are gaining strength but risks remain tilted to the downside. Specifically, the stochastic oscillator is ascending after rebounding from the 20-oversold zone, while the RSI’s advance paused before reaching the 50-neutral mark. Should buying pressure intensify, [..]

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Bitcoin retreats after hawkish FOMC minutes – Cryptocurrency News

Posted on August 18, 2022 at 1:35 pm GMT

In the last couple of months, Bitcoin and most major altcoins have been recovering from their 2022 bottoms, closely following the positive performance of stocks amid signs of inflation easing in the US. Nevertheless, this relief rally paused after the latest FOMC minutes provided no concrete signals around what’s next in the normalization cycle, leaving risky assets adrift. Hence, is this a temporary retracement or are crypto markets on the verge of a new decline? It’s all about the Fed In 2022, the myth that [..]

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Technical Analysis – BTCUSD retraces after hitting 2-month high

Posted on August 18, 2022 at 8:01 am GMT

BTCUSD has been constantly gaining ground after its prolonged downtrend bottomed at the 2022 low of 17,588. However, in the last few daily sessions, the cryptocurrency has been experiencing a downside correction since its recent rebound failed to cross above the 25,200 region. This loss of positive momentum is also reflected by the short-term indicators. Specifically, the MACD histogram has dived beneath both zero and its red signal line, while the stochastic oscillator is sloping downwards after posting a bearish cross. Should [..]

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