Ethereum Price (ETH) Facing Key Resistance: Can Bulls Overcome $200?

ETH price recovered recently and managed to climb above the $190 resistance against the US Dollar. The price is now trading nicely above the $190 and $192 resistance levels. There is a connecting bullish trend line forming with support near $188 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher, but the $202 resistance is likely to cap the upside. Ethereum price is climbing higher towards key resistances versus the US Dollar, similar to bitcoin. ETH price is likely to face a…

Bitcoin’s Bulls Now Have a Target of $13.2K, Monthly Chart Suggests

View Bitcoin charted an “inside bar” pattern last month, making $13,200 the level to beat for the bulls. A convincing move above $13,200 would imply a resumption of the rally from lows near $4,050 seen in April. A break below $9,049 (July’s low) would confirm a bearish inside bar reversal on the monthly chart. The hourly chart indicates prices could drop below $11,000 in the next 24 hours or so. The bearish case would weaken if lower-highs pattern on the hourly chart is invalidated with a move above $11,431. Bitcoin…

Bitcoin in Tug of War Between Bulls and Bears as Trading Range Tightens

View Bitcoin has charted a narrowing price range over the last three days, neutralizing the immediate bullish setup. A bull revival needs a UTC close above Wednesday’s high of $12,145, according to a double inside bar pattern seen on the daily chart. The outlook would turn bearish if prices print a UTC close below Wednesday’s low of $11,388. The odds of a bearish UTC close would rise if BTC breaks lower from the contracting triangle seen on the intraday charts. Bitcoin (BTC) is witnessing indecisive price action for the third…

Bitcoin (BTC) Price Is Trading In Uptrend But Can Bulls Clear $12K?

Bitcoin price is trading above a couple of important supports near $11,800 against the US Dollar. The price could rally sharply if there is a successful close above the $12,000 resistance. There was a break above a major contracting triangle with resistance near $11,860 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is showing positive signs, suggesting high chances of an upside break above the $12,000 level. Bitcoin price is struggling to clear the key $12,000 resistance against the US Dollar. However, BTC price…

Ethereum Price (ETH) Holding Uptrend Support, Bulls In Control

ETH price traded to a new monthly high close to $240 before correcting lower against the US Dollar. The price is currently holding an important support near the $222 and $224 levels. Yesterday’s highlighted important bullish trend line is active with support near $224 on the hourly chart of ETH/USD (data feed via Kraken). The pair could bounce back as long as there is no daily close below the $220 support area. Ethereum price is trading above a couple of important supports versus the US Dollar, and bitcoin retreated from…

US Federal Reserve Launching Payment System, Crypto Bulls Nonplussed

The United States Federal Reserve Board is planning to release a real-time payments and settlements service in order to boost the payments infrastructure in the country. A press release published on Aug. 5 reads that the Board of Governors of the Federal Reserve System has requested that Federal Reserve Banks develop a new interbank real-time settlement service to support faster payments in the U.S. The payment system is called FedNow and will purportedly launch in 2023 or 2024. By launching FedNow, the Fed aims to modernize the country’s payment system…

Bitcoin (BTC) Price Weekly Forecast: Can Bulls Aim $11.5K?

There was a decent rise in bitcoin price above the $10,500 resistance level against the US Dollar. The price climbed higher and even broke the key $10,650 and $10,800 resistance levels. There is a major ascending channel forming with support at $10,700 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is climbing higher and it could continue to rise above the $11,000 resistance area. Bitcoin price is gaining momentum above $10,500 against the US Dollar. BTC price is likely to extend gains above the…

Bitcoin Price (BTC) Trading Near Inflection Point, Can Bulls Make It?

Bitcoin price declined heavily below the $9,800 and $9,500 support levels against the US Dollar. The price traded to a new weekly low at $9,118 and it is currently correcting higher. There is a crucial contracting triangle forming with resistance near $9,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could either climb above $9,700 and $9,800 or decline sharply towards $9,000. Bitcoin price is holding the $9,300 support level against the US Dollar. However, BTC price remains at a risk of a fresh…

Ripple (XRP) Down 7%, Bulls Fail to Break Above Key Moving Average

Ripple (XRP) is down 7.4 percent from last week’s close Kenny Li, the CEO of Worthyt, said people are willing to trade the security of decentralization for speed and convenience Ripple Price Analysis Fundamentals Blockchain is altering the way payments are done. Introducing speed, efficiency, and slashing costs, countless applications can be built on top of this distributed ledger. Ripple is one of the many companies that is taking on traditional behemoths by leveraging on the transparency of blockchain. Together with Facebook’s Libra, they are challenging the status quo, forcing…

Ripple (XRP) Down 7%, Bulls Fail to Break Above a Key Moving Average

Ripple (XRP) is down 7.4 percent from last week’s close Kenny Li, the CEO of Worthyt, said people are willing to trade the security of decentralization for speed and convenience Ripple Price Analysis Fundamentals Blockchain is altering the way payments are done. Introducing speed, efficiency, and slashing costs, countless applications can be built on top of this distributed ledger. Ripple is one of the many companies that is taking on traditional behemoths by leveraging on the transparency of blockchain. Together with Facebook’s Libra, they are challenging the status quo, forcing…