Correlating with the market sentiment, altcoins like Avalanche, Stellar and AAVE exhibited a bearish inclination. Avalanche fell below all its EMA ribbons. Although its RSI recovered, it needed to ramp up its volumes to confirm a strong bull move. Stellar and AAVE were still on the bearish bandwagon while their CMF’s still try to keep […]

Litecoin has struggled to break past the $163 level for the whole of December after the early December sell-off saw Litecoin drop from $200 to $140. At the time of writing, the market structure continued to be bearish. Even though Bitcoin was trading just above an area of support and could see a decent bounce […]

The LRC coin price shows a free fall as it breaks below the flag pattern and hangs close to the 200-day SMA. Will it manage to rise again? LRC represents the Ethereum-powered crypto token used by Loopring. It is an open protocol that was designed to facilitate the creation of decentralized crypto exchanges. LRC tokens were made available to the general public in the initial coin offerings (ICO) during August 2017. The Loopring protocol was launched on the Ethereum main net in December of 2019. Let us move ahead to read about LRC technical analysis. Past Performance of LRC LRC coin price breaks below the flag pattern in the daily chart and retests it before giving a downfall to the $1 mark. It results in a free fall of more than 30% in the past week, forecasted in our previous article. However, the price action shows long tail formations in the daily chart near $1 that may soon result in a morning star pattern. LRC/USD Daily Chart LRC Technical Analysis The LRC coin price hangs close to the $1 mark after the downfall from the flag pattern. However, the recent downfall in the coin price reflects increased bearish momentum that may shortly break below the $1 mark.  The Loopring token prices hinge near the confluence of $1 and the 200-day SMA in the daily chart. Moreover, the spark fall in the 50-day SMA indicates a high possibility of a bearish crossover with the 100-day SMA. The Super Trend indicator shows a downtrend in action as the price breaks below the flag pattern and 10-day average true range.  The Bull Bear Power indicator shows a rising bearishness in the LRC coin price as the slope breaks below the zero line.  Therefore, the technical indicators reflect a rise in underlying bearishness evident by the increased trend momentum in the falling LRC prices.  Upcoming Trend The LRC technical analysis shows the coin price hanging close to a high-demand confluence area of the $1 psychological mark and the 200-day SMA. However, the increased selling pressure teases a fallout below the $1 mark. However, if the prices gain bullish momentum near the demand area, a price jump to the next horizontal levels at $1.35 and $1.55 is possible.  Nonetheless, the fallout of 200-day SMA due to increased selling pressure can result in a free fall to $0.60 or $0.35. At the time of writing the article, the technical indicator by TradingView gives a “SELL” signal for the Loopring token. Technical Analysis for LRCUSD by TradingView { “interval”: “1D”, “width”: “100%”, “isTransparent”: false, “height”: “100%”, “symbol”: “BINANCE:LRCUSD”, “showIntervalTabs”: true, “locale”: “in”, “colorTheme”: “dark” }

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EOS price started a fresh decline from the $3.00 zone against the US Dollar. The price is now trading below $2.80 and the 55 simple moving average (4-hours). There is a key bearish trend lien forming with resistance near $2.82 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could...

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Litecoin price failed to climb above $150 and corrected lower against the US Dollar. LTC price is now trading below $140 and the 55 simple moving average (4-hours). There was a break below a key bullish trend line with support near $150 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The...

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Ethereum extended decline below the $3,100 support zone against the US Dollar. ETH price must stay above $3,000 to avoid a sharp decline. Ethereum extended decline below the $3,120 and $3,100 levels. The price is trading below $3,150 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $3,140 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a clear move above the $3,200 resistance zone. Ethereum Price Keeps Struggling Ethereum failed to settle above $3,200 and extended decline below the $3,120 support zone. ETH even broke the $3,080 level and settled below the 100 hourly simple moving average. A low is formed near $3,050 and currently correcting losses. There was a minor recovery wave above the $3,100 level. Ether price climbed above the 50% Fib retracement level of the recent decline from the $3,195 swing high to $3,050 low. The first major resistance is near the $3,135 level. There is also a key bearish trend line forming with resistance near $3,140 on the hourly chart of ETH/USD. The trend line is near the 61.8% Fib retracement level of the recent decline from the $3,195 swing high to $3,050 low. Source: ETHUSD on TradingView.com If there is an upside break above the trend line, the price could rise towards the $3,190 resistance zone and the 100 hourly simple moving average. The next major resistance is near the $3,200 level, above which ether price could gain bullish momentum. In the stated case, the price could rise towards $3,300 in the near term. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,150 level, it could continue to move down. An initial support on the downside is near the $3,080 level. The first key support is now forming near the $3,050 level. A downside break below the $3,050 level might even spark a move below the $3,000 level. The next major support for the bulls may perhaps be near the $2,880 zone. Any more losses could push the price towards the $2,750 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now near the 50 level. Major Support Level – $3,050 Major Resistance Level – $3,150

Most Metaverse crypto coins are currently experiencing bearish momentum for the past couple of weeks. This means many projects are currently undervalued and now could be a good entry point. This article looks at our list of the top five most traded Metaverse crypto coins with a market cap under $100 million, ordered by 24-hour […]

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Bitcoin found support near the $41,200 zone against the US Dollar. BTC must clear $42,500 to start a recovery wave in the near term. Bitcoin extended decline and tested the $41,200 support zone. The price is still trading below $42,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $42,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent recovery if there is a clear move above the $42,500 resistance. Bitcoin Price Faces Hurdles Bitcoin price struggled to start a decent recovery wave and extended decline below $42,000. BTC even broke the $41,500 support level and settled below the 100 hourly simple moving average. A low was formed near $41,159 and the price is now correcting higher. There was a move above the $41,800 resistance zone. The price climbed above the 23.6% Fib retracement level of the main decline from the $43,800 swing high to $41,159 low. On the upside, an initial resistance is near the $42,400 level and the 100 hourly simple moving average. Besides, there is a major bearish trend line forming with resistance near $42,450 on the hourly chart of the BTC/USD pair. The trend line is close to the 50% Fib retracement level of the main decline from the $43,800 swing high to $41,159 low. An upside break above the trend line resistance could start a steady recovery wave above $42,500. Source: BTCUSD on TradingView.com The next key resistance is near the $43,000 level, above which the bulls might aim a test of $43,500. Any more gains may perhaps call for a test of the $44,500 resistance zone. Fresh Drop in BTC? If bitcoin fails to start a fresh increase above $42,500, it could start a fresh decline. An immediate support on the downside is near the $41,600 zone. The first major support is seen near the $41,200 zone. A downside break below the $41,200 support zone may perhaps spark another major decline. The next major support is near $40,500, below which the price could even decline below the $40,000 zone. Technical indicators: Hourly MACD – The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is above the 50 level. Major Support Levels – $41,600, followed by $41,200. Major Resistance Levels – $42,400, $42,500 and $43,500.

The price of the meme-inspired cryptocurrency BabyDoge ($BABYDOGE) has surged after the token was listed on Hong Kong-based trading platform CoinEx through a trading pair against Tether’s USDT stablecoin. According to an announcement published on CoinEx, BABYDOGE deposits and withdrawals went live early on January 18, with trading for the cryptocurrency starting shortly after. The listing boosts […]

Bitcoin (BTC) has been beneath $45,000 for 14 days and is at present 40% beneath the $69,000 all-time excessive. This motion holds similarities to late-September 2021, when Bitcoin value flat-lined for 11 days and was 36% beneath the earlier $64,900 all-time excessive on April 14. Bitcoin value at Coinbase, USD. Source: TradingView To perceive whether […]

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice XRP has been on a strong downtrend since November when it hit highs of $1.34. The weeks that followed saw the $1 area lost to the bears. At press time, the $0.76 area of former […]

Jack Dorsey made headlines by leaving Twitter to focus full-time on Square (now Block) and Bitcoin. But how will the company advance the protocol?