Here’s Why 100 SMA Could Spark Fresh Bitcoin Rally In Near Term

Bitcoin failed to surpass the $7,000 resistance and declined below $6,500 against the US Dollar. BTC is likely to bounce back as long as it is above $6,000 and the 100 SMA (H4). Bitcoin price is currently correcting gains from the $7,000 resistance area. The $6,000 region and the 100 simple moving average (4-hours) are important supports. There was a break below a major bullish trend line with support at $6,620 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently consolidating losses above…

Ethereum Is In Downtrend But This Variable Can Trigger A New Rally

Ethereum failed to clear the $142 resistance and started a fresh decline against the US Dollar, similar to bitcoin. ETH price could soon test the main $120 support area, where the bulls might emerge. ETH price is currently trading in a bearish zone below the $135 level against the US Dollar. There are many hurdles on the upside, starting with $135 and up to $144. There is a major bearish trend line forming with resistance near $135 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair remains…

Dow Jones Stimulus Rally Crushed with Terrifying Coronavirus Reality

The Dow’s recovery ended on Friday as the United States became the most-infected country in the world. Now that the coronavirus stimulus package has been absorbed, the Dow has little in the way of the catalyst to fuel a sustained rally. Profit-taking will likely erase most of this week’s gains. The Dow Jones Industrial Average (DJIA) rocketed out of bear territory this week after three consecutive days of gains. But the stock market turned lower on Friday as a worrying spike in U.S. coronavirus cases threatened to erase this week’s…

Do or Die For Bitcoin Bulls: Here’s What Could Trigger A Strong Rally

Bitcoin is slowly rising and trading above the $6,750 level against the US Dollar. BTC price must claim the $7,000 resistance to start a strong rally in the near term. Bitcoin is trading in a crucial range below the $7,000 resistance area against the US Dollar. Yesterday’s discussed double top pattern is still active with resistance near $7,000 and support at $6,400. There was a break above a short term contracting triangle with resistance near $6,680 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back

Ethereum is still facing a strong resistance near the $142 and $144 levels against the US Dollar. A successful close above $144 could start a strong increase in ETH price in the near term. Ethereum is struggling to gain bullish momentum above the $142 zone against the US Dollar. The price is currently trading nicely above the $135 support and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $142 on the hourly chart of ETH/USD (data feed via Kraken). The bulls are…

Ripple (XRP) is Primed For a Rally And Only 1 Thing is Holding it Back

Ripple is struggling to gain momentum above the $0.1640 and $0.1650 resistances against the US Dollar. XRP price must stay above the $0.1580 support to continue higher in the near term. Ripple price is facing a lot of hurdles near the $0.1640 and $0.1650 levels against the US dollar. The bulls could gain strong momentum if there is a clear break above $0.1650. There is a major bullish trend line forming with support near $0.1600 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could…

Here’s Why Bitcoin Bulls Aim Larger Rally Above $7K In Near Term

Bitcoin is gaining momentum and it is trading above the $6,500 support against the US Dollar. BTC price is likely to continue higher towards $7,000 and $7,200 in the coming sessions. Bitcoin is showing a few positive signs above the $7,500 and $7,400 support levels against the US Dollar. The price could grind higher towards $7,000 or even $7,500 if it clears the $6,800 resistance. There is a major bullish trend line forming with support near $6,120 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Ethereum Gearing For Lift-Off to $150: Rally Isn’t Over Yet

Ethereum is currently trading nicely above the $135 support area against the US Dollar. ETH price is likely to break the $142 and $144 resistance levels for a move towards $150. Ethereum is trading in a positive zone above the $135 support against the US Dollar. The price is currently consolidating gains below the $144 resistance area. There is a key bullish trend line forming with support near $135 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is also consolidating gains above the $6,500 support area.…

Bitcoin Near Key Fib Extension Resistance, Can Bulls Spark A New Rally?

Bitcoin is up more than 10% and it broke the key $6,400 resistance against the US Dollar. BTC price is now trading near the $6,650 resistance, above which it could surge to $7,000. Bitcoin is gaining traction and it recently climbed back above $6,200 against the US Dollar. The price is now trading above the $6,400 level, but struggling to clear the $6,650 resistance. Yesterday’s major contracting triangle was breached with resistance near $6,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely…

Ripple (XRP) Breaking This Single Level Will Spark a Sharp Rally

Ripple is showing a few positive signs above the $0.1550 resistance against the US Dollar. XRP price is likely to surge further if it clears the $0.1620 resistance area. Ripple price is up more than 6% and it traded above the key $0.1550 resistance against the US dollar. The bulls are now fighting to clear the $0.1620 and $0.1625 resistance levels. There was a break above a major bearish trend line with resistance near $0.1520 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is…