Bitcoin Could Soon See Explosive Momentum if It Shatters One Key Level

Bitcoin’s bulls are flexing their strength today, pushing the benchmark digital asset towards $11,000 as they attempt to reverse the recent downtrend that it has been caught within. There’s no doubt that today’s move – coupled with that seen yesterday – is positive for the crypto’s near-term outlook, but it is important to keep in mind that BTC has yet to break above its key $11,000 resistance. This price region was previously strong support, and a failure for it to be decisively reclaimed could prove to be dire for the…

Key Reasons Why Ripple (XRP) Price Could Surge Past $0.25

Ripple is recovering above the $0.2450 resistance against the US Dollar. The current technical structure suggests XRP price is likely to surge above $0.2500 and $0.2550. Ripple is slowly gaining bullish momentum above the $0.2450 resistance against the US dollar. The price is trading near the $0.2500 resistance, but it is above the 100 hourly simple moving average. There is a key bullish trend line forming with support near $0.2470 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could accelerate higher if it clears…

Ethereum Approaches Key Resistance; Break Above Could Spark Move to $650

Ethereum has seen a strong rebound from its recent lows today, with its ongoing upswing coming about in tandem with the immense technical strength seen by Bitcoin. The aggregated cryptocurrency market is trending higher today, which is partially being driven by Bitcoin’s strong weekly candle close and the ongoing upswing seen in the stock market. Despite Ethereum rebounding from daily lows of $350 that were set at the bottom of yesterday’s selloff, it is important to note that the crypto has yet to break above its key $380 resistance level.…

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…

These Key Levels And Dates Could Invalidate Bitcoin’s Stock-To-Flow Model

At this point following Bitcoin’s halving, expectations were that the cryptocurrency’s price would be a lot higher. This expectation is primarily due to Plan B’s stock-to-flow model – a valuation method based on the asset’s digital scarcity. But before anyone writes off the theory as invalid, another analyst has provided key levels and dates to watch for, which would prove the model invalid if not reached in time. Here are the most important dates and levels critical to this valuation method remaining accurate. Belief In Plan B’s Stock-To-Flow Model Is…

Ethereum’s Market Structure “Firmly Bearish” as It Remains Below Key Level

Ethereum has seen some intensely positive price action in recent hours, with bulls catalyzing an upswing that led its price to highs of $380 just a couple of hours ago. It did face some intense resistance at this price region, however, and subsequently plunged towards $360. After rebounding from these lows, it now appears that ETH is caught within a bout of consolidation. Where it trends next will likely depend mostly on Bitcoin, as the benchmark cryptocurrency has been struggling to break above $10,400 throughout the past few hours. If…

Ripple (XRP) Just Saw A Key Technical Breakout: Relief Rally Underway

Ripple started a steady recovery wave, following bitcoin’s upward move and ethereum’s rally against the US Dollar. XRP price is likely to revisit $0.2575 or $0.2620 in the near term. Ripple is up 4% and it is trading above the $0.2350 and $0.2440 resistance levels against the US dollar. The price is showing positive signs above the $0.2450 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $0.2360 on the hourly chart of the XRP/USD pair (data source…

Bitcoin Near Key Inflection Zone, $10,500 Holds The Key For Next Rally

Bitcoin price remained well supported above $9,900 and $10,000 against the US Dollar. BTC is currently recovering and approaching a major breakout zone at $10,500. Bitcoin is trading higher, and it surpassed the $10,200 resistance zone and he 100 hourly simple moving average. It is facing a major hurdle near the $10,450 and $10,500 levels. There is a key rising channel forming with support near $10,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong upward move if it closes above…

Chainlink May Be Coiling Up for a Push to $16 as Buyers Defend Key Support

Chainlink bulls have been ardently defending against a decline beneath $11.00 throughout the past day, signaling that this level has been flipped into support. This is an incredibly positive technical development, as it indicates that the asset may soon be able to post significantly further gains in the near-term, using this support as a launchpad. The strength seen by both Bitcoin and the rest of the crypto market today is also creating a tailwind that may allow LINK to push higher and recapture some of its recent losses. It is…

Ethereum Remains in Bears’ Control Until it “Powers Above” Key Level

Ethereum has seen a sharp rebound from its recent lows today, with bulls and bears remaining engaged in a heated battle for control over its mid-term trend. This trend is somewhat unclear at the moment, as Ethereum has been facing multiple strong selloffs throughout the past few days, but each dip has been followed by a swift rebound. The key level that bulls have been defending exists between $325 and $330. It did visit these lows earlier this morning before it was able to see a sharp rebound that led…