Bitcoin, Ethereum Technical Analysis: BTC Consolidates Below $35,000 Ahead of US Consumer Confidence Report

Bitcoin continued to trade under the $35,000 level on Tuesday, as markets prepared for the upcoming U.S. consumer confidence report. It is expected that the confidence index will come in at a reading of 100 in October, down from 103 the month prior. Ethereum remains above $1,800.

Bitcoin

Bitcoin consolidated on Tuesday, as markets braced themselves for the upcoming consumer confidence report from the United States.

Following a high of $34,843.94 to start the week, BTC/USD slipped to an intraday low of $34,083.31 in today’s session.

This has resulted in the world’s largest cryptocurrency hovering below a key price point of $35,000.

Additionally, the relative strength index (RSI) tracked above a floor at 79.00, which is deep in bull territory.

Price strength is now sitting at 82.02, with the next visible point of resistance being at the 88.00 mark.

Overall, many see BTC as being overcooked, with a more long-lasting reversal potentially on the cards.

Ethereum

Ethereum (ETH) continued to hover around the $1,800 level, despite a slight stint below this point during today’s session.

ETH/USD fell to a low of $1,784.95 earlier in the day, which came following a peak at $1,829.25 on Monday.

Bulls have since bought this earlier dip, pushing ethereum to a current reading around the $1,813.25 region.

From the chart, it appears that the rally came as the RSI bounced from 68.00. It is now tracking at 71.65.

A ceiling at 75.00 now awaits traders, and should strength move beyond this, ETH will likely move closer to $1,900.

Register your email here to get weekly price analysis updates sent to your inbox:

How will today’s report impact crypto markets? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Biggest Movers: SOL Hits Near 1-Year High, Gaining 9% on Monday

Solana surged to near a one-year high to start the week, as bulls pushed the cryptocurrency above the $35.00 level. Today’s surge comes as the global crypto market cap rallied, following a recent bout of consolidation. Avalanche also edged higher, surging by 5% today.

Solana (SOL)

Solana (SOL) was one of the notable gainers in the market on Monday, as the token climbed above the $35.00 mark.

Following a low of $32.29 on Sunday, SOL/USD rose to an intraday high at $35.17 to start the week.

This is the highest level the cryptocurrency has hit since November 6 last year, when the price was trading above $37.00.

Solana was one of the biggest tokens to fall following the FTX fraud scandal, however price has made steady gains since then.

Today’s surge comes as the relative strength index (RSI) rallied above a ceiling at 74.00, and now sits at 77.33.

SOL remains above $35.00 as of writing, however, bulls could begin taking profits in the coming days.

Avalanche (AVAX)

Avalanche (AVAX) made sizable gains to start the week, moving by as much as 6% higher during the day.

AVAX/USD peaked at $11.60 on Monday, which comes less than 24 hours after falling to a bottom at $10.92.

This has resulted in avalanche rising to its strongest point since October 7, when price last surpassed a ceiling at $11.70.

Earlier gains have marginally faded, with AVAX now sitting at $11.57, and this comes as the RSI hit a ceiling at 70.00.

Price strength is now hovering at 69.40, however bulls will likely look to break this mark, and force a move above 70.00 in the coming days.

Register your email here to get weekly price analysis updates sent to your inbox:

Could avalanche reach $12.00 in November? Let us know your thoughts in the comments.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: ETH Moves Back Above $1,800, BTC Remains Near Recent Highs

Ethereum once again rallied above the $1,800 level on Monday, ahead of a highly significant week of U.S. economic data. Over the next few days consumer confidence, and nonfarm payrolls will be reported, ahead of a Federal Reserve policy meeting. Bitcoin continued to trade close to the $35,000 zone.

Bitcoin

On Monday, bitcoin remained near the $35,000 level, ahead of a key week of economic data from the United States.

BTC/USD peaked at the $34,743.26 mark to start the week, after falling to a low at $34,173.38 on Sunday.

This resulted in bitcoin moving closer to an 18-month high at $35,157, which was last struck on October 25.

Bitcoin chart by TradingView

Since hitting a low of $33,400 on Friday, BTC has made consecutive gains, and this comes after the relative strength index (RSI) found a stable floor at 79.00.

As of writing, the index is tracking at 82.52, which is still significantly above the overbought mark.

Should price now continue to increase, there is a good chance that price strength will edge closer to a ceiling at 87.00.

Ethereum

Ethereum (ETH) rose above the $1,800 level to start the week, following a second straight day in the green.

Following a low of $1,779.36 on Sunday, ETH/USD rose to a high of $1,827.13 earlier in today’s session.

As a result of the move, the world’s second largest cryptocurrency rose to its highest point since last Thursday.

Ethereum chart by TradingView

From the chart, it appears that the rally came as the RSI neared its long-term resistance level of 75.00.

Currently, the index is tracking at 72.20, with ethereum marginally below its earlier peak at $1,817.

Register your email here to get weekly price analysis updates sent to your inbox:

Could ethereum remain above $1,800 for the rest of this week? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Biggest Movers: LINK Nears 18-Month High on Saturday, as Bulls Extend Momentum

Chainlink moved towards an 18-month high to start the weekend, following a second day of bullish momentum. The cryptocurrency rose by as much as 7% in today’s session, despite the global market cap mostly consolidating on Saturday. Cardano also rallied, nearing a multi-month high of its own.

Chainlink (LINK)

Chainlink (LINK) made considerable gains to start the weekend, as the token rose by as much as 7% in the day.

LINK/USD peaked at a high of $11.59 earlier in today’s session, which comes a day after price fell to a low of $10.80.

Today’s gains pushed price closer to a recent 18-month high of $11.78, which was hit during the week.

The latest bullish push in LINK comes as the relative strength index (RSI) continued to trend upward, and it now sits at 81.68.

A ceiling is fast approaching at the 83.00 mark, and should bulls fail to break out of this level, there will likely be a reversal in price.

Cardano (ADA)

Cardano (ADA) was another notable mover on Saturday, climbing closer to a recent nine-week high.

Following a low of $0.284 on Friday, ADA/USD raced to a peak at $0.2973 earlier in today’s session.

As a result of the surge, cardano edged closer to its highest level since mid-August, when price traded over $0.30.

From the chart, it appears that the 14-day RSI is now tracking at a reading above 77.00, which could prompt some bears to begin entering the market.

As a result, a handful of bulls have begun to secure gains, leading to ADA now trading marginally below today’s peak.

Register your email here to get weekly price analysis updates sent to your inbox:

Will cardano reach $0.30 during November? Let us know your thoughts in the comments.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Rebounds From Recent Declines to Start the Weekend

Bitcoin started the weekend tracking around the $34,000 level, as prices rebounded following a two-day winless run. The cryptocurrency has begun to consolidate in recent days, following strong gains earlier in the week. Ethereum moved back closer to the $1,800 level.

Bitcoin

Bitcoin rose back above the $34,000 level on Saturday, which comes following recent price consolidation.

After hitting a low of $33,416.89 on Friday, BTC/USD rallied to an intraday high of $34,201.77 to start the day.

The move saw bitcoin snap a two-day losing streak, which came after the cryptocurrency was significantly overbought.

Despite the uncertainty of the past few days, the 14-day relative strength index (RSI) remains in this territory.

As of writing, the index is tracking at 81.21, which comes as bulls implemented an interim floor at the 80.00 mark.

If this level holds throughout the weekend, bulls may make another run towards the $35,000 level.

Ethereum

Ethereum (ETH) rebounded from Friday’s drop, making a run back towards the $1,800 level to start the weekend.

ETH/USD peaked at $1,796.57 on Saturday, which comes after the price fell to a low of $1,751.44 less than 24 hours ago.

This climb means that the world’s second largest cryptocurrency has traded higher for nine of the last ten sessions.

Looking at the chart, this latest rally comes as the 10-day (red) moving average continues its uptrend versus its 25-day (blue) counterpart.

Additionally, the RSI found a floor at 68.00, using it as a springboard to a current reading of 69.94.

Bulls will likely make further runs towards $1,800, despite overall price strength being overbought.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect ethereum to hit $1,800 this weekend? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Biggest Movers: TON Leads Bears, as Price Nears Fall Below $2

Toncoin was a notable mover on Friday, as the cryptocurrency edged lower for a second straight session. Price fell by as much as 4% earlier in the day, as price approached a breakout below the $2.00 mark. On the other hand, solana continued to trade around the $33.00 mark.

Toncoin (TON)

Toncoin dropped for a second straight day on Friday, as bears pushed the cryptocurrency close to a breakout below the $2.00 level.

Following a high of $2.17 during yesterday’s session, TON/USD slipped to an intraday low of $2.07 earlier today.

As a result of the decline, toncoin continued to track a one-week low, and close to a key price floor of $2.00.

One reason TON remains above the aforementioned level is as a result of the 14-day relative strength index (RSI), which is above its own floor at 50.00.

In the event that this point is broken, there is a strong possibility that bearish sentiment will significantly increase.

If so, traders will possibly be targeting a lower support point of $1.90.

Solana (SOL)

Solana (SOL) made slight gains earlier in the day, as the token hovered close to a one-year low above $33.00.

SOL/USD rose to a peak of $33.30 during today’s session, after falling to a low at $30.80 on Thursday.

Earlier gains have since faded, with the world’s seventh largest cryptocurrency now trading at $32.37.

From the chart, it appears that the 14-day RSI is marginally above a floor at 74.00, with a current reading of 74.43.

Should bulls sustain this level, there is a good chance that solana could make another run towards $35.00.

Register your email here to get weekly price analysis updates sent to your inbox:

Will solana reach $35.00 during November? Let us know your thoughts in the comments.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Ahead of US Consumer Sentiment Report

Bitcoin slipped below the $34,000 level earlier in today’s session, ahead of the upcoming consumer sentiment report in the United States. Data on Thursday showed that the U.S. economy grew at a rate of 4.9% in Q3, largely driven by consumer spending. Ethereum moved below the $1,800 level to start the day.

Bitcoin

Bitcoin slipped below the $34,000 mark on Friday, as markets consolidated ahead of U.S. consumer sentiment figures.

BTC/USD fell to a low at $33,762.32 earlier in today’s session, which comes following a peak at $34,649.40 the day before.

As a result of the decline, bitcoin continued to pull away from a recent 18-month high, as bears began to gradually seize market sentiment.

Bitcoin chart by TradingView

This comes as the relative strength index (RSI) remained in overbought territory, with a current reading of 83.68.

Bulls in the market seem reluctant to let go of their positions, and have gone on to once again push BTC above $34,000.

Overall, BTC remains nearly 15% higher than at the same time last week, despite the recent price consolidation.

Ethereum

Ethereum (ETH) also edged lower in today’s session, falling below the $1,800 mark in the process.

After reaching a high of $1,857.81 on Thursday, ETH/USD dropped to a bottom at $1,764.01 earlier in the day.

This decline has seen ETH snap a seven-day bull run, pushing the cryptocurrency away from a multi-month high in the process.

Ethereum chart by TradingView

The drop coincided with the RSI failing to breach a resistance level of 74.00, and it is now tracking at a reading of 71.13.

Traders who are holding onto their long positions may begin to reconsider this, should the index fall below the 70.00 mark.

Register your email here to get weekly price analysis updates sent to your inbox:

Could we see momentum shift lower this weekend? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Remains Near 18-Month High, ETH Recaptures $1,800 Level

After a brief spell above $35,000 late on Wednesday, bitcoin retreated below this level during today’s session. Despite the decline, the cryptocurrency continues to trade close to an 18-month high on Thursday. Ethereum rose back above the $1,800 level.

Bitcoin

Bitcoin once again fell below the $35,000 level on Thursday, after a brief stint above this level on Wednesday.

Following a high of $35,133.76 late in yesterday’s session, BTC/USD dropped to an intraday low of $34,151.88 earlier today.

The move saw bitcoin continue to trade close to its strongest point since May 2022, when price was over $37,000.

At the time of writing, bitcoin is now trading at $33,990.55, which comes as the relative strength index (RSI) failed to penetrate the 90.00 zone.

Currently, the index is at a reading of 82.99, which remains significantly overbought in the medium term.

Should sentiment begin to truly shift bearish, a floor at $31,000 is the likely target for bears in the market.

Ethereum

On the other hand, ethereum (ETH) was mostly higher, leading prices back above the $1,800 level.

ETH/USD peaked at $1,865.10 earlier in today’s session, following a low at $1,781.49 on Wednesday.

As a result of today’s surge, ethereum rose to its highest level since August, when the price hovered below $1,880.

The cryptocurrency has now traded in the green for seven straight sessions, adding nearly 20% to its value during this period.

Overall, the 10-day (red) moving average continued to race ahead of its 25-day (blue) counterpart, which is a sign that momentum remains bullish.

At the time of writing, the RSI is at 74.90, which could cause current buyers to soon begin to capture gains.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect ethereum to hit $1,900 before market sentiment shifts? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Consolidates Recent Gains, as Traders Anticipate Powell Speech

Bitcoin profit takers swooped in to capture recent profits on Wednesday, as the cryptocurrency retreated below a recent high above $35,000. The decline comes ahead of Federal Reserve Chair Jerome Powell’s speech later today. Ethereum also edged lower, dropping under the $1,800 level.

Bitcoin

Bitcoin was trading lower on Wednesday, as traders appeared to have finally decided to secure profits, following recent gains.

BTC/USD slipped to an intraday low of $33,278.40 late in yesterday’s session, after an earlier peak above the $35,000 mark.

Although bulls have since pushed the cryptocurrency higher, with the price now at $34,246.74, it remains below heights seen on Tuesday.

Bitcoin chart by TradingView

One reason for this being the relative strength index (RSI), which was significantly overbought on Tuesday, tracking around 89.00.

Currently, the index is at a reading of 87.22, which is marginally lower, but still remains primed for a reversal.

Today’s speech could be the storm that traders are waiting to clear, before either intensifying recent momentum, or selling off further.

Ethereum

Ethereum (ETH) retreated below the $1,800 level on Wednesday, snapping a six-day winning streak.

Following a high of $1,852.68 during yesterday’s session, ETH/USD fell to a low of $1,758.69 earlier in the day.

ETH has since rebounded, marginally, and is now trading at $1,784.57, which is over 3% lower than Tuesday’s peak.

Ethereum chart by TradingView

Overall sentiment remains largely positive, with the 10-day (red) moving average extending its upward trend versus its 25-day (blue) counterpart.

Although the RSI in ethereum is also overbought, and tracking above 70.00, bulls could attempt to push the price above $1,900 in this upcycle.

Register your email here to get weekly price analysis updates sent to your inbox:

How will today’s Fed speech impact crypto prices? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Explodes Above $35,000 as ETF Speculation Intensifies

Bitcoin rallied to its highest level since May 2022, as bullish sentiment exploded throughout the market. The surge came as traders believed a United States SEC announcement was imminent, over a bitcoin exchange-traded fund (ETF), likely from Blackrock. Ethereum also rose, climbing above $1,800.

Bitcoin

Bitcoin bulls pushed the cryptocurrency over the $35,000 level on Tuesday, as momentum over a potential ETF approval intensified.

Following a low of $30,433.32 to start the week, BTC/USD surged to a peak at $35,150.43 earlier in the day.

This resulted in bitcoin climbing to its highest level since May 7, 2022, when the price was trading above $36,000.

Earlier gains have somewhat eased due to several factors, one of which being the relative strength index (RSI) moving deep into overbought territory.

Currently, the index is tracking at the 88.60 mark, which is its strongest reading since the start of the year.

BTC is now trading at $34,528.51, as traders have likely started closing off positions, in order to secure profits.

Ethereum

Ethereum (ETH) reached $1,800 for the first time in several months, after being the beneficiary of general sentiment around crypto.

ETH/USD rallied to an intraday high of $1,845.99 earlier in today’s session, a day after trading at a bottom at $1,664.58.

As a result of today’s peak, ethereum reached its highest point since August 13, when price was marginally below $1,860.

The move saw ethereum climb for a fifth straight session, which came as the RSI broke out of a resistance at 60.00.

Similar to bitcoin, price strength in ETH is now severely overbought, with the index now tracking at 76.79.

Bulls broke a ceiling of 68.00 over the last several hours, however it is unlikely that this will be sustained, as profit takers begin to loom.

Register your email here to get weekly price analysis updates sent to your inbox:

Could ethereum hit $1,900 before the month ends? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Closes in on $31,000 as S&P 500 Plunges to 4-Month Low

Bitcoin started the week surging towards the $31,000 level, as the S&P 500 fell to a four-month low. Momentum in crypto markets has remained mostly bullish in recent days, following speculation on upcoming exchange-traded fund (ETF) approvals by the United States SEC. Ethereum rose above the $1,700 mark.

Bitcoin

Bitcoin climbed to a fresh multi-month high to start the week, as market sentiment remained high following speculation on potential ETF approvals.

After trading at a low of $29,734 on Sunday, BTC/USD peaked at the $30,951 level during today’s session.

This move saw bitcoin climb to its strongest level since July 14, when price hovered close to $32,000.

Bitcoin chart by TradingView

Monday’s gains sent the relative strength index (RSI) above the 76.00 mark for the first time since the beginning of the year.

As a result of the cryptocurrency being extremely overbought, bears that are currently sidelined could be pondering reentry.

In the event that this comes into fruition, sellers could aim to push bitcoin to a long-term floor of $29,000.

Ethereum

Ethereum (ETH) rallied above the $1,700 level on Monday, hitting a three-week high in the process.

ETH/USD peaked at $1,705.37 earlier in the day, less than 24 hours after trading at a low of $1,623.98.

As a result of today’s high, the world’s second largest cryptocurrency climbed to its highest level since the start of the month.

Ethereum chart by TradingView

The move saw ethereum climb for a fifth straight session, which came as the RSI broke out of a resistance at 60.00.

Price strength is now tracking at 62.40, with the next visible ceiling on the index at the 65.00 mark.

At the time of writing, ethereum is trading at $1,676.39.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect ethereum to rally back above $1,700 in the coming days? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Biggest Movers: SOL Rallies Towards $30, Following 33% Surge in Price

Solana has undoubtedly been one of this week’s biggest gainers, with price rallying by as much as 33% in recent days. The move comes as the global crypto market cap remained mostly in the green to start the weekend. Chainlink was another big mover, hitting a three-week high.

Solana (SOL)

Solana (SOL) was on the cusp of entering the $30.00 level on Saturday, as bullish momentum continued to intensify.

SOL/USD peaked at $29.74 to start the weekend, following a low at $26.39 the day prior.

Today’s move saw solana climb to its strongest point since July 14, when price hit a high of $32.40.

Overall, solana has risen by as much as 33% in the past seven-day period, with today’s surge leading to yet another breakout on the relative strength index (RSI).

Price strength climbed beyond a ceiling at 74.00 earlier in the day, and is now at a reading of 78.90.

As a result of SOL now being significantly overbought, there is a chance that bears could be looming waiting to send the price lower.

Chainlink (LINK)

Chainlink (LINK) also surged considerably higher to start the weekend, colliding with a key resistance level in the process.

After trading at a low of $7.54 on Friday, LINK/USD peaked at $8.15 earlier in Saturday’s session.

This level has acted as a price ceiling since late July, and today’s rally is the first time LINK has hit this point since October 1.

Saturday’s move came following a breakout of a resistance level at 59.00 on the RSI, with price strength now residing at 64.71.

70.00 is the likely target for current bulls, and should they reach this desired level, LINK could be trading around $8.50.

Register your email here to get weekly price analysis updates sent to your inbox:

How long do you expect chainlink to extend today’s gains? Let us know your thoughts in the comments.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC, ETH Marginally Lower as Traders Secure This Week’s Profits

Bitcoin traded around the $30,000 region to start the weekend, as markets remained optimistic that an ETF approval could be looming. This has been the topic of the week, with many speculating how high crypto markets could surge on such potential news. Ethereum slipped from Friday’s peak.

Bitcoin

Bitcoin was hovering marginally below the $30,000 level on Saturday as a section of bulls looked to seize this week’s profits.

Following a peak at $30,104.09 on Friday, BTC/USD has fallen to a current low of $29,816.64 during today’s session.

Despite the decline, the world’s largest cryptocurrency remains higher than yesterday’s low at the $29,376.12 mark.

The easing of momentum comes as the relative strength index (RSI) continued its stay in overbought territory, with a present reading of 73.17.

This is the highest point the index has tracked at since February, giving some traders concerns of a potential pullback.

Should this occur in the coming days, bears will likely look to push bitcoin to the $29,000 level, which seems to be the next visible floor.

Ethereum

Ethereum (ETH) also edged lower to start the weekend, however remains above the $1,600 level.

ETH/USD dropped to a bottom at $1,593.45 earlier in the day, however bulls then pushed price to a high of $1,610.11.

Overall, ethereum traders appear to still be targeting its long-term floor of $1,650, with today’s decline a possible pitstop towards this point.

Unlike bitcoin above, ETH’s price strength has yet to climb into the overbought mark, and is currently tracking at 51.76.

This is slightly above a ceiling at 50.00, with the next firm resistance point around the 60.00 region.

In the event bulls push for this point, ethereum will almost certainly be trading above $1,650.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect ethereum to end the month above $1,650? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Above $30,000 as ETF Hopes Intensify

Bitcoin rallied to a three-month high on Friday, as market optimism grew that the Securities and Exchange Commission (SEC) could soon approve several spot bitcoin ETFs. As reported yesterday, SEC Chair Gary Gensler stated that the regulator is currently reviewing up to ten filings for the product. This comes as the commission also opted to drop its lawsuit against senior leadership at Ripple (XRP).

Bitcoin

Bitcoin surged to a multi-month high in today’s session, as markets remained optimistic that the SEC could soon approve several spot bitcoin exchange-traded funds (ETFs).

BTC/USD surged above $30,000 as sentiment grew, hitting a peak at $30,104.09 earlier in today’s session.

This comes following a low of $28,449.96 on Thursday, with today’s peak the strongest point bitcoin has hit since July 23.

Bitcoin chart by TradingView

On a technical level, the breakout of a ceiling at 69.00 on the relative strength index (RSI) also contributed to the gains.

At the time of writing, price strength is now at a reading of 71.14, which is in overbought territory.

There has also been some slight profit taking in the market, with bitcoin now trading at $29,475.77.

Ethereum

Ethereum (ETH) was also higher on Friday, with the cryptocurrency once again rising above the $1,600 level.

Following a low of $1,553.03 on Thursday, ETH/USD jumped to a peak at $1,628.61 earlier in the day.

This resulted in ethereum climbing to its highest point since the start of the week, when price was over $1,640.

Ethereum chart by TradingView

Today’s hump comes days after bulls rejected a breakout below a support point of $1,540, and they now look to be targeting resistance of $1,650.

In order to get there, the RSI, which is currently reading at 51.81, will need to move beyond its own ceiling at 55.00.

Register your email here to get weekly price analysis updates sent to your inbox:

Will today’s momentum extend into the weekend? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Higher, as SEC’s Gensler Says Around 10 ETFs Are Being Reviewed

Bitcoin edged slightly higher on Thursday, following comments from the Chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler. Gensler said the commission was currently reviewing eight to ten applications from firms looking to launch a bitcoin exchange-traded-fund (ETF).

Bitcoin

Bitcoin snapped a two-day losing streak on Thursday, as markets reacted to comments on spot bitcoin ETFs from SEC Chair Gensler.

BTC/USD peaked at $28,566.75 on the news, following a low of $28,174.25 during Wednesday’s session.

Today’s move comes as bitcoin bulls pushed price back above a recent floor at the $28,200 level.

Looking at the chart, the bounce comes as the 14-day relative strength index (RSI) jumped at a support point of its own at 63.00.

Currently, the index is tracking at 64.35, which is marginally below the next point of resistance at 65.00.

In order for bullish momentum to intensify, this ceiling will first need to be broken in the coming hours or days.

Ethereum

Ethereum (ETH) on the other hand, fell for a third straight session, as the cryptocurrency collided with a long-term floor.

After hitting a high at $1,580.26 on Wednesday, ETH/USD plunged to an intraday low of $1,543.59 earlier today.

The move saw the world’s second largest cryptocurrency close in on a support point at the $1,540 mark.

This comes as the 10-day (red) moving average continued to trend lower, and extend its downward cross with the 25-day (blue) trend line.

The last time bears forced a breakout below the aforementioned floor, ethereum went on to fall to a seven-month low.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect this floor to be broken in the coming days? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Bulls Secure Gains, Following a Recent Multi-Month High

Bitcoin stalled in today’s session, as traders consolidated gains, following a recent two-month high. The global market cap is trading 0.01% lower as of writing, with the cryptocurrency remaining above the $28,000 level. Ethereum has been marginally higher, and continues to hover around the $1,580 region.

Bitcoin

Bitcoin bulls consolidated recent gains on Wednesday, as traders appeared to be capturing profits following recent highs.

BTC/USD edged to a low of $28,172.91 earlier in today’s session, which comes a day after a high of $28,889.01.

Today’s price consolidation comes after the world’s largest cryptocurrency rose to as high as $30,000 earlier in the week.

Bitcoin chart by TradingView

Looking at the chart, the decline comes as the 14-day relative strength index (RSI) maintains its position marginally above a floor at the 62.00 level.

As of writing, the index is tracking at a reading of 62.28, after a failed breakout from a resistance of 65.00 on Monday.

Price may continue to consolidate until either the aforementioned floor or ceiling is broken.

Ethereum

Ethereum (ETH) made slight gains on hump-day, as it continued to hover around the $1,580 mark.

Following a low of $1,554.40 on Tuesday, ETH/USD climbed to an intraday peak of $1,584.73 during the day.

Earlier gains have since eased, with ethereum now trading at $1,577.40, with short-term bulls still targeting the $1,600 zone.

Ethereum chart by TradingView

This may be difficult to achieve as momentum appears to be bearish, with the 10-day (red) moving average continuing to trend downwards.

Whilst at a reading of 45.75, a ceiling awaits ETH’s price strength at the 49.00 zone, and should it move beyond this, there will likely be an influx of bulls.

Register your email here to get weekly price analysis updates sent to your inbox:

Could there be a breakout this week? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Remains Near 2-Month High, Following Strong US Retail Sales

Bitcoin remained near a two-month high on Tuesday, as markets digested the latest retail sales figures from the United States. Sales, which account for two thirds of the U.S. economy, rose by 0.7% in September, 0.4% higher than expected. Ethereum briefly rose above $1,600.

Bitcoin

Bitcoin continued to trade above $28,000 on Tuesday, following a better than expected increase in U.S. retail sales.

Despite slipping from a peak of $30,000 on Monday, BTC/USD traded above $28,600 in today’s session.

Although gains have eased, this was still considerably higher than yesterday’s low at the $27,855.21 level.

Overall, the recent upward trend means bitcoin is trading at its highest rate since August 18, which comes after the relative strength index (RSI) broke out of a key resistance level.

The index surged beyond a ceiling at 63.00 in yesterday’s session, peaking above the 65.00 mark.

Price strength has since retreated, however is still marginally above the aforementioned point of resistance.

Ethereum

Ethereum (ETH), was lower in today’s session, after a brief stint trading above the $1,600 mark for the first time in almost ten days.

ETH/USD peaked at $1,628.16 to start the week, on the back of a tweet from Cointelegraph that suggested Blackrock’s spot bitcoin ETF was approved.

After these claims were proven to be incorrect, the cryptocurrency has since slipped, falling to a low at $1,570.89 earlier today.

As a result of Tuesday’s decline, bears have snapped a four-day win streak, and could now be targeting a floor at $1,540.

From the chart, it appears that a failure to move beyond a ceiling at 49.00 on the RSI indicator also contributed to today’s decline.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect momentum to now shift in favor of sellers? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Nears $28,000 as Hopes for Grayscale’s ETF Rise

Bitcoin surged towards $28,000 on Monday, as markets continued to react to the Securities and Exchange Commission (SEC) decision not to appeal the Grayscale ruling. The decision now means that Graycale could soon move to convert its bitcoin trust into an exchange-traded fund (ETF). Ethereum edged closer to $1,600 today.

Bitcoin

Bitcoin (BTC) was on the cusp of breaking into the $28,000 level on Monday, as markets reacted to the SEC’s decision not to appeal a court ruling favoring Grayscale.

BTC/USD surged to a peak at $27,968.93 earlier in today’s session, which comes following Sunday’s low at $26,817.89.

As a result of today’s move, bitcoin climbed to its strongest point since October 9, recovering all of last week’s losses in the process.

Bitcoin chart by TradingView

Earlier gains have since faded, with the relative strength index (RSI) failing to move beyond a resistance level of 60.00.

At the time of writing, price strength is now tracking at 58.98, with bitcoin hovering around the $27,800 mark.

Traders will likely make further strides towards $28,000 in the coming hours, and as the week progresses.

Ethereum

Ethereum (ETH) was also in the green to start the week, as price rose for a fourth straight session.

Following Sunday’s bottom at $1,550.88, ETH/USD raced to a peak of $1,588.45 earlier in the day.

The current bull run started after traders rejected a breakout below a support level of $1,540, and instead moved towards a ceiling at $1,590.

Ethereum chart by TradingView

Bulls will possibly look to break this ceiling as the session progresses, however to do so an upcoming ceiling of 48.00 on the RSI will need to go.

As of writing, the index is tracking at 46.18, which is marginally below the aforementioned resistance level.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect today’s sentiment to last throughout the week? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

Biggest Movers: SHIB Hits 6-Day High to Start the Weekend

Saturday saw shiba inu climb to its highest point since Monday, as bulls made a slight return to the market. The meme coin rose by as much as 4% on Saturday, as the global crypto market cap made gradual gains to start the weekend. Solana was another notable mover, climbing above the $22.00 zone.

Shiba Inu (SHIB)

Shiba inu (SHIB) rallied for a third straight session on Saturday, as the meme coin jumped nearly 4% higher in the day.

Following a low of $0.000006828 on Friday, SHIB/USD climbed to a peak of $0.000007099 to start the weekend.

This is the highest point that SHIB has hit since Monday, when price was trading at a high of $0.00000721.

The rally started after bulls rejected a breakout of a floor at $0.00000670 earlier this week, and they now look to be taking the coin to a resistance level of $0.00000760.

From the chart, it appears that the surge has resulted in the relative strength index (RSI) moving above its own ceiling at 45.00.

At the time of writing, price strength is at a reading of 46.39, with the next visible point of resistance at 51.00.

Solana (SOL)

Solana (SOL) extended its own gains to start the weekend, as the cryptocurrency finally rose above $22.00.

SOL/USD peaked at $22.20 earlier in today’s session, which comes following Friday’s low at the $21.39 level.

Earlier gains have since eased as the day matured, which came after bulls began to close previous positions.

One reason for this can be attributed to the RSI, which collided with a ceiling around the 53.00 region.

Currently, the index is tracking at 53.02, with solana trading at $21.92, as momentum begins to shift.

Register your email here to get weekly price analysis updates sent to your inbox:

Will solana remain below $22.00 for the rest of the weekend? Let us know your thoughts in the comments.

via Eliman Dambell

Read More

Bitcoin, Ethereum Technical Analysis: BTC Falls on Saturday, Following Brief Spell Above $27,000

Bitcoin retreated from a brief spell above $27,000 on Saturday, as uncertainty in the market remained high to start the weekend. The global cryptocurrency market was marginally higher to start the weekend, trading 0.42% higher as of writing. Ethereum continued to consolidate above a recent floor of $1,535.

Bitcoin

Bitcoin (BTC) retreated below the $27,000 level to start the weekend, after a late surge in price on Friday.

Following a low of $26,686.32 earlier in Friday’s session, BTC/USD peaked at a high of $27,092.70 as the day progressed.

Although BTC has since slipped, and is currently trading at $26,866.74, it is still higher than yesterday’s bottom.

The consolidation comes as the relative strength index (RSI) continues to hover above a floor at the 45.00 mark.

Whilst now tracking at 46.72, the next target is likely to be at a ceiling of 50.00, and if hit, bitcoin will be back above $27,000.

Overall, bitcoin is trading 4% lower than at the same point last week.

Ethereum

Ethereum (ETH) is largely unchanged at the time of writing, as the cryptocurrency consolidated to start the weekend.

ETH/USD reached a high of $1,571.75 on Friday, however has since fallen to a current reading of $1,546.80.

This is slightly higher than yesterday’s low at $1,538.09, which was marginally above a support point at $1,535.

The drop in price coincides with the RSI failing to breach its own point of resistance at the 40.00 mark.

Currently, price strength is at the 37.46 level, with the 10-day moving average continuing to trend downwards.

Register your email here to get weekly price analysis updates sent to your inbox:

Could ethereum fall under $1,700 this weekend? Leave your thoughts in the comments below.

via Eliman Dambell

Read More