Ethereum Takes a Bit Hit But Uptrend Intact Above This Support
Ethereum jumped to a new 2020 high at $278 before correcting lower against the US Dollar. ETH is now consolidating and it is likely to continue higher above $275.
Ripple (XRP) Rallies 20% To Hit $0.33 But $0.35 Region Could Be Game Changer
Thursday February 13, 2020
Ripple rallied around 20% and it broke the key $0.3000 resistance against the US Dollar. XRP price is now approaching the $0.3400-$0.3500 resistance, where it could face a strong selling interest. Ripple price surged...
The post Ripple (XRP) Rallies 20% To Hit $0.33 But $0.35 Region Could Be Game Changer appeared first on 12bitplay - Bitcoin Play.
Ethereum seems to be struggling to clear the $275 resistance area against the US Dollar.
The price is currently consolidating gains above the $260 support area.
There is a key contracting triangle forming with support near $259 on the hourly chart of ETH/USD (data feed via Kraken).
Bitcoin price is currently correcting lower, but it remains supported above $10,000.
Analysts Expect “Moonshot” in Ripple’s XRP as Price Retakes $0.30: Here’s Why
Wednesday February 12, 2020
After a brutal -50% performance in 2019, XRP has bounced back to start off the new year. Since the $0.17 bottom established in December 2019, the price of the third-largest cryptocurrency has rallied by...
The post Analysts Expect “Moonshot” in Ripple’s XRP as Price Retakes $0.30: Here’s Why appeared first on 12bitplay - Bitcoin Play.
Ethereum Price Remains In Uptrend
Recently, there were a couple of swing moves in Ethereum above the $260 pivot area against the US Dollar. ETH surged to a new 2020 high at $278 and recently corrected lower.
It broke the $265 support level, but remained well above the 100 hourly simple moving average. The correction was such that the price spiked below the $260 support area before the bulls emerged near the $255 level.
A swing low was formed near $254 before Ethereum rallied above. The last swing high was $278 before the price corrected again to $262. It is currently consolidating losses above the $260 support area.
Moreover, there is a key contracting triangle forming with support near $259 on the hourly chart of ETH/USD. If there is a downside break below the triangle support, the price could retest the $255 support area.
The main uptrend support for Ethereum is near the $248 level and the 100 hourly simple moving average. If the price fails to stay above the $248 support area, there could be a larger downside correction. The next major support is seen near the $230 area.
On the upside, an initial resistance is near the $270 level. It coincides with the 50% Fib retracement level of the recent decline from the $278 high to $262 low.
A convincing break above the $270 area is needed for more gains. An immediate hurdle could be the 61.8% Fib retracement level of the recent decline from the $278 high to $262 low.
However, Ethereum must gain momentum above the $275 resistance area to start a strong wave towards the $300 resistance area in the near term. If not, it could correct further towards the $248 support level.
Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is back above the 50 level, with positive signs.
Major Support Level – $260
Major Resistance Level – $275
Tron CEO Failed to Convince Warren Buffet on the Merits of Bitcoin
Monday February 17, 2020
Bitcoin makes a poor investment choice, well that’s according to the famed investor, Warren Buffet. Who sees more benefit in buying land over buying the number one cryptocurrency. Sun and Buffet Finally Lunch Together...
The post Tron CEO Failed to Convince Warren Buffet on the Merits of Bitcoin appeared first on 12bitplay - Bitcoin Play.