Bitcoin Surges Towards $10,800 as Recovery Continues: Here’s What Comes Next

Bitcoin is surging higher as legacy markets rally. The leading cryptocurrency is up around 5% in the past 24 hours, outpacing many altcoins, with focus re-centering on BTC. The cryptocurrency seems to be benefiting from a drop in the value of the U.S. dollar. This has historically sent both gold and Bitcoin, along with the stock market, higher. Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million There do seem to be some technical reasonings behind Bitcoin’s ongoing rally too, though. Namely, the cryptocurrency managed to close its…

Here’s Why Ethereum Could Return to Last Week’s Lows at $315

Ethereum has surged over the past few days after bottoming at $310-315 early last week. The leading cryptocurrency has been benefiting from a recovery in both legacy markets and Bitcoin, which both have pushed higher since the lows they established last week. As of the time of this article’s writing, ETH trades for $380 — which is a price over 20% higher than the aforementioned lows. The cryptocurrency is up 5% in the past 24 hours, having pushed higher from a strong drop on Sunday morning. The coin remains in…

Here’s What Bitcoin’s Strong Weekly Close Says About Its Present Outlook

Bitcoin posted a strong weekly close yesterday afternoon, which is what allowed the cryptocurrency to see an overnight upswing that has led it past multiple crucial levels. While speaking about the digital asset’s price action, one analyst observed that its strong weekly close may continue acting as a launchpad for further upside, noting that bulls were able to defend a crucial support level for two consecutive weeks. Further adding to the fire that has driven BTC higher today is strength seen in the stock market. BTC has once again grown…

Ethereum Flag Pattern Risks Plunge Towards $177; Here’s Why

Ethereum is facing risks of undergoing a massive plunge as it partially confirms a bearish flag pattern. The technical setup appears after an asset forms a consolidation channel upward following a strong bearish move. The downward movement is called flagpole, while the consolidation is referred to as the “flag” itself. Ethereum is forming the same pattern, as shown in the chart below. ETH/USD is consolidating in an upward channel. Source: TradingView.com The second-largest cryptocurrency is forming a flag pattern followed by a large slope downwards – a flagpole whose maximum…

Does Bitcoin’s Ongoing Rally Have Legs? Here’s Why Analysts Think It Does

Bitcoin is pressing higher after a $300-400 correction on Sunday morning. The leading cryptocurrency currently trades at $10,400 as of this article’s writing, around $200 from the lows. This comes after the leading cryptocurrency printed a pivotal weekly candle close above $10,000. $10,000 has long acted as an important horizontal level for Bitcoin, having marked three separate highs over the past year. Analysts think that Bitcoin’s ongoing rally may have legs despite it being so nascent and relatively small. One sign that this is the case is the price action…

Ethereum Lacks Momentum Above $370: Here’s Why Bulls Are Comfortable

Ethereum failed to continue high above $390 against the US Dollar. ETH price is currently trading above a crucial support at $350, below which it could turn negative. Ethereum declined below the $375 support after it failed near the $390 level. The price is now trading below the 100 hourly simple moving average, but it is well above $350. There is a crucial bullish trend line forming with support near $358 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $350 support level…

It’s “Logical” for Ethereum To Reject At Current Prices: Here’s Why

Since plunging from the $390 highs to $350 on Sunday morning, Ethereum has undergone a strong bounce that has taken it back above $365. The cryptocurrency has legacy markets and Bitcoin to thank, as both have pushed higher over the past few hours. Bitcoin now trades at $10,350 after reaching lows of $10,200 while the futures for leading American stock indices like the S&P 500 and Nasdaq are up 0.5% as of the Sunday evening (Monday morning in Asia) open. Ethereum, though, may soon undergo a correction as the price…

Here’s Why Bitcoin Is Poised to Bounce After Plunging $300

After Bitcoin peaked at $10,600 late on Saturday evening, bears reasserted control over the cryptocurrency. Now, BTC trades for $10,300, having dropped as low as the low-$10,200s as sellers suddenly entered the market. This was a departure from the expectations that analysts had for Bitcoin just hours before the move. Many thought that the move above $10,500 after days of ranging was set to take BTC towards $11,000. While this didn’t play out, there are signs that the ongoing correction is one that is too aggressive. That’s to say, there’s…

Here’s the Key Level Analysts Are Eyeing After Ethereum Surged 25% From Low

Earlier this week, Ethereum plunged as low as $310-315 as legacy markets tumbled, dragging crypto lower. The cryptocurrency has since undergone an extremely strong bounce, recovering 25% to the $389 level where ETH sits at now. Analysts are eyeing $392 as a level for the cryptocurrency. One says that if that level is confirmed as support, it will give credence to the sentiment that Ethereum will push back above $400. Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000 Ethereum Needs to Cross This Level to Confirm More…

Here’s Why An Analyst Thinks the Ongoing Bitcoin Rally Is “The Real Deal”

Bitcoin has begun to press higher despite weakness in legacy markets. The price of the leading cryptocurrency is currently at $10,470 despite reaching lows of $9,800 earlier this week; also, altcoins have begun to surge, suggesting that this is once again a buyer’s market. BTC is moving above pivotal support levels during this slight rally. While some think this is an upward fakeout, there are signs that this may be the start of a rally that takes Bitcoin back to $11,000. Here’s why. Related Reading: CNBC’s “Mad Money” Host Jim Cramer…