Altcoins

Things in the cryptocurrency market are looking increasingly bad as the price for bitcoin just crashed below $30,000. Bitcoin’s price is currently trading below $30,000. This hasn’t happened in months as the last time we saw these levels was in January 2021. BTC/USD. Source: TradingViewOther cryptocurrencies are also following suit with most of the altcoins charting double-digit declines on the weekly. This has also led to almost $800 million worth of liquidated positions...

ADA price started a fresh decline from well above the $1.50 level against the US Dollar. The price is now trading well below $1.45 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $1.38 on the 4-hours chart (data feed via Bitfinex). The price is recovering, but it is likely to face sellers near the $1.38 and $1.40 levels. Cardano price is trading in a bearish zone below $1.40 against the US Dollar, similar to...

Ethereum price failed to stay above $2,500 and it extended its decline against the US Dollar. ETH price is now trading well below $2,300 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $2,060 on the 4-hours chart (data feed from Coinbase). The pair could correct higher, but it is likely to face resistance near $2,060 and $2,200. Ethereum price is gaining bearish momentum below $2,200 against the US Dollar....

Following a somewhat stagnant weekend in which BTC remained in a range between $35,000 and $36,000, the asset dumped to a two-week low of just over $32,000. Most alternative coins have performed even worse, with ETH plummeting beneath $2,000 for the first time since May. Altcoins in Red; ETH Below $2K Altcoins have been gradually declining in value for the past several days. Ethereum has been at the forefront as it traded well above $2,600 less than a week ago. However, the...

Stellar lumen price struggled to clear the $0.3500 resistance zone against the US Dollar. XLM price is now trading below $0.3000 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.3080 on the 4-hours chart (data feed via Kraken). The pair is likely to extend its decline as long as it is below the $0.3500 resistance level. Stellar lumen price is facing hurdles near $0.3200 and $0.3500 against the US Dollar,...

Ripple price is trading above the key $0.8050 support zone against the US dollar. The price is now well below $0.8000 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.8200 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could continue to move down below the $0.7200 and $0.7000 support levels. Ripple price is trading in a bearish zone below $0.80 against the US Dollar. XRP price...

Hedge fund CFOs expect the investment trends to change in the next few years, including adding cryptocurrencies to their portfolios. A recent study revealed that they are significantly more willing to enter the digital asset market as one in six anticipate a 10% or higher allocation. Hedge Funds to Enter the Crypto Space? Cryptocurrencies have been regarded as a rather speculative form of investment for years, but the COVID-19 pandemic and the world governments’ actions...

The last week was rather challenging for altcoins as most of the major ones are trading in the red. Bitcoin managed to pull ahead a bit, which also resulted in an increase in its market dominance. Bitcoin Bitcoin is up by a very small 2.8% over the past week as it currently trades at $37,900 – just above the 20-day MA. The coin had provided some hope at the start of the week as it surged above $37,000 to break a falling trend line that has been in play since the mid-May...

Bitcoin cash price is struggling to recover above $600 and $620 against the US Dollar. The price is now trading below $600 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $620 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair could extend its decline unless there is a clear break above $600 and $620. Bitcoin cash price is struggling to recover above $620 against the US Dollar, similar...

EOS seems to be forming a decent support base above the $4.50 level against the US Dollar. The price is currently testing the $5.05 zone and the 55 simple moving average (4-hours). There was a break above a major declining channel with resistance near $5.05 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair is likely to start a steady increase above the $5.25 and $5.50 resistance levels. EOS price is forming a base for a move above $5.50 against...