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Price Analysis BTC/USD, ETH/USD, XRP/USD, LTC/USD

Discussion in 'General Discussion' started by Quiks, Mar 31, 2019.

  1. Quiks

    Quiks Contributor

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    ETH price rallied in the past few days and broke the $139 and $144 resistances against the US Dollar.

    The price is currently correcting lower, but it could find a strong support near the $139 zone.
    There is a major ascending channel in place with support at $140 on the 4-hours chart of ETH/USD (data feed via Kraken).

    The pair remains in an uptrend as long as there is no daily close below the $139 support zone.
    Ethereum price is placed in a solid uptrend versus the US Dollar and Bitcoin. ETH/USD could test the $139 support area before it starts a fresh bullish wave above $144.

    Ethereum Price Analysis

    This past week, ETH price formed a solid support base near the $137 level against the US Dollar. The ETH/USD pair started a solid upside move and traded above the $139 and $142 resistance levels. There was a successful close above the $139 level and the 100 simple moving average (4-hours). It cleared the path for more gains and the price traded above the $144 resistance area. It traded close to the $146 resistance level and later started a substantial downside correction.

    The price traded below the $142 level and the 50% Fib retracement level of the last wave from the $137 low to $145 swing high. However, the price found a strong buying interest above the key $139 support area. Moreover, there is a major ascending channel in place with support at $140 on the 4-hours chart of ETH/USD. The 61.8% Fib retracement level of the last wave from the $137 low to $145 swing high also acted as a support. The price recovered, but the $142 area is acting as a hurdle.

    It seems like there could be another dip in ETH price below the $140 level. However, the $139 support zone is likely to act as a crucial buy zone. As long as there is no daily close below the $139 level, the price is likely to bounce back in the near term.

    Ethereum Price Analysis ETH Chart

    The above chart indicates that ETH price is clearly placed in an uptrend, but bulls need to prevent the $139 support area. On the upside, a break above the $142 and $144 levels is needed for more gains. The next key resistance is near $146, above which the price is likely to test the $150 resistance level.

    Technical Indicators

    4 hours MACD – The MACD for ETH/USD is slowly moving in the bearish zone, with a few negative signs.

    4 hours RSI – The RSI for ETH/USD is currently correcting lower from the 75 level and it could test 55.

    Major Support Level – $139 :)

    Major Resistance Level – $144;)
     
    Last edited: Apr 1, 2019
  2. Quiks

    Quiks Contributor

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    Ripple (XRP) Price Analysis: Further Gains Seem Likely

    Ripple price corrected lower after trading as high as $0.3168 against the US dollar.
    The price traded below the $0.3100 level, but the $0.3070 level acted as a decent support.
    There was a break above a key bearish trend line with resistance at $0.3080 on the hourly chart of the XRP/USD pair (data source from Kraken).
    The pair is likely to accelerate gains once bulls clear the $0.3120 resistance level in the near term.
    Ripple price remained well bids on the downside against the US Dollar and bitcoin. XRP/USD is climbing higher and it could accelerate once again towards the $0.3150 and $0.3165 levels.

    Ripple Price Analysis

    This past week, we saw a solid upward move above the $0.3100 resistance in ripple price against the US Dollar. The XRP/USD pair even broke the $0.3150 resistance and settled well above the 100 hourly simple moving average. The price traded as high as $0.3168 and later it started a downside correction. Sellers pushed the price below the $0.3120 and $0.3100 levels. However, the price found a strong support near the $0.3070 level and the 100 hourly simple moving average.

    A swing low was formed at $0.3070 and recently the price climbed higher once again. It broke the 23.6% Fib retracement level of the last decline from the $0.3168 high to $0.3070 low. Moreover, there was a break above a key bearish trend line with resistance at $0.3080 on the hourly chart of the XRP/USD pair. The pair is now trading nicely above the $0.3080 level and the 100 hourly SMA. On the upside, an immediate resistance is near the $0.3120 level.

    Besides, the 50% Fib retracement level of the last decline from the $0.3168 high to $0.3070 low is also near $0.3120. Therefore, the price might struggle to clear the $0.3120 resistance area. If bulls succeed in gaining strength above the $0.3120 resistance, the price could retest the $0.3150 resistance. Any further gains will most likely increase the chances of a move towards the $0.3200 barrier.

    Ripple Price Analysis XRP Chart

    Looking at the chart, ripple price is trading nicely above the $0.3070 support and the 100 hourly SMA. Should sellers clear the $0.3070 support, there could be a downside extension. The next key support is near the $0.3030 level, where buyers are likely to emerge. Therefore, the $0.3070 support holds the key for more gains above the $0.3100 and $0.3120 resistance levels in the near term.

    Technical Indicators

    Hourly MACD – The MACD for XRP/USD is gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 50 level, with a positive bias.

    Major Support Levels – $0.3080, $0.3070 and $0.3030.

    Major Resistance Levels – $0.3100, $0.3120 and $0.3150.

     
  3. Quiks

    Quiks Contributor

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    Bitcoin price settled above the key $5,000 hurdle and tested the $5,240 resistance against the US Dollar.

    The price faced a strong selling interest near the main technical barrier at $5,240-5,260.
    There is a major connecting bullish trend line formed with support near $4,200 on the daily chart of the BTC/USD pair (data feed from Kraken).
    The pair corrected recently, but it is likely to make another breakout attempt above $5,240.
    Bitcoin price started a massive bull-run above the $4,500 and $5,000 resistances against the US Dollar. BTC is currently struggling near the $5,240 resistance, but more upsides seems possible.

    Bitcoin Price Analysis

    In the past two days, we saw a nasty upward move above the $4,500 resistance in bitcoin price against the US Dollar. The BTC/USD pair even climbed above the $5,000 resistance and settled well above the 100-day simple moving average. During the recent rise, there was a break above a couple of important resistances near the $4,000 and $4,200 levels (green area). It opened the doors for a sharp rally above the $4,800 and $5,000 levels.

    More importantly, there was a break above the 50% Fib retracement level of the last significant drop from the $6,559 high to $3,122 low. The price settled above the $5,000 resistance area and recently tested the next major hurdle near $5,240-5,260. It represents the previous swing low near $5,250 (red line). Besides, the 61.8% Fib retracement level of the last significant drop from the $6,559 high to $3,122 low is also near the $5,240 level. Therefore, the recent downside correction was from a crucial technical resistance near $5,250.

    Having said that, downsides are likely to be limited since there are many supports near $5,000, $4,900 and $4,840. If there is an extended correction, the price could test the $4,600 or $4,550 support. There is also a major connecting bullish trend line formed with support near $4,200 on the daily chart of the BTC/USD pair. The main support is near the previous breakout area near the $4,200 level.

    Bitcoin Price Analysis BTC Chart

    Looking at the chart, bitcoin price clearly moved into a strong uptrend above $5,000. It is currently facing a crucial resistance near $5,240, above which there are chances of more upsides towards the $5,500 or $5,750 level. The final stop for buyers could be $6,000 if there is a proper follow through above $5,500. On the downside, buyers are likely to remain active near $4,840 or $4,600 in the near term.

    Technical indicators:

    Daily MACD – The MACD is placed heavily in the bullish zone.

    Daily RSI (Relative Strength Index) – The RSI for BTC/USD climbed above the 80 level and currently flat near 87.

    Major Support Levels – $4,840 followed by $4,600.:(

    Major Resistance Levels – $5,250, $5,500 and $5,750.:)
     
  4. Quiks

    Quiks Contributor

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    Ripple (XRP) Price Holding Crucial Support & Likely To Bounce Back

    [​IMG]

    Ripple price climbed sharply and tested the $0.3750 resistance before correcting lower against the US dollar.
    The price corrected below the $0.3600 and $0.3480 support before buyers appeared near $0.3280.
    Yesterday’s highlighted important bullish trend line was breached with support at $0.3600 on the hourly chart of the XRP/USD pair (data source from Kraken).
    The pair must stay above the $0.3300 support and the 100 hourly SMA to bounce back.
    Ripple price corrected lower sharply after a strong rise against the US Dollar and bitcoin. XRP tested a crucial support area and it remains well bid on the downside above $0.3300.

    Ripple Price Analysis

    There was a strong upward move above the $0.3480 resistance in ripple price against the US Dollar. The XRP/USD pair surged above the $0.3500 and $0.3600 resistance levels. The price traded close to the $0.3750 resistance and settled well above the 100 hourly simple moving average. Later, there was a downside correction, but the $0.3480 support acted as a buy zone. There was a fresh increase, but the price failed again near the $0.3750 resistance area.

    As a result, there was a sharp decline below the $0.3600 and $0.3480 support level. Moreover, yesterday’s highlighted important bullish trend line was breached with support at $0.3600 on the hourly chart of the XRP/USD pair. The decline was such that the price even spiked below the $0.3400 level. It tested the $0.3280 support area and the 100 hourly simple moving average. A strong buying interest emerged near $0.3280, resulting in a rebound above $0.3400. The price broke the 23.6% Fib retracement level of the recent decline from the $0.3746 high to $0.3281 low.

    However, the previous key support near $0.3480 is currently acting as a strong resistance. The next key resistance is near the $0.3500-0.3510 area. Besides, the 50% Fib retracement level of the recent decline from the $0.3746 high to $0.3281 low is also near the $0.3510 level. Therefore, a break above the $0.3510 level is needed for buyers to regain control in the near term.

    Ripple Price Analysis XRP Chart

    Looking at the chart, ripple price could decline once again towards the $0.3300 support and the 100 hourly SMA. However, downsides could be contained as the price is likely to bounce back as long as it is above $0.3280 and the 100 hourly SMA. If there is a close below the 100 hourly SMA, the price might slide back towards the $0.3000 support area.

    Technical Indicators

    Hourly MACD – The MACD for XRP/USD is gaining momentum in the bearish zone.
    Hourly RSI (Relative Strength Index) – The RSI for XRP/USD declined sharply below the 50 level and it is currently near 40.

    Major Support Levels – $0.3320, $0.3300 and $0.3280. :)
    Major Resistance Levels – $0.3480, $0.3500 and $0.3510. ;)
     
  5. Helga Bjarni

    Helga Bjarni Scholar

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  6. Quiks

    Quiks Contributor

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    Ripple (XRP) Price Could Soon Follow BTC and ETH Higher, Targets $0.40
    [​IMG]


    Ripple price is trading in a positive zone above the $0.3500 support area against the US dollar.
    Bitcoin and Ethereum climbed higher recently above the $5,200 and $180 levels respectively.
    There was a break above a short-term contracting triangle with resistance near $0.3620 on the hourly chart of the XRP/USD pair (data source from Kraken).
    The pair must clear the $0.3750 resistance to climb towards the $0.3850 and $0.4000 resistances.
    Ripple price is placed nicely for more gains against the US Dollar and bitcoin. XRP might sooner or later break the $0.3750 resistance to start a solid rise towards the $0.4000 level.

    Ripple Price Analysis

    After a downside correction, ripple price found support near the $0.3250 level against the US Dollar. The XRP/USD pair started a fresh rise and traded above the $0.3380 and $0.3400 resistance levels. Later, there was a close above the $0.3500 level and the 100 hourly simple moving average. A swing high was formed at $0.3791 before the price corrected once again. It declined below the $0.3600 level and the 50% Fib retracement level of the last wave from the $0.3258 low to $0.3791 high.

    However, the $0.3500 level acted as a solid support along with the 100 hourly SMA. Besides, the 61.8% Fib retracement level of the last wave from the $0.3258 low to $0.3791 high also acted as a support. The price is currently moving higher and is placed above the $0.3600 level. Moreover, there was a break above a short-term contracting triangle with resistance near $0.3620 on the hourly chart of the XRP/USD pair. The pair tested the $0.3700 level and it is currently signaling more gains.

    On the upside, the main resistance is near the $0.3750 and $0.3780 levels. A successful close above the $0.3750 level is likely to open the doors for more gains above the $0.3850 resistance. The next main hurdle for buyers is near the $0.4000 level, where sellers are likely to appear.

    Ripple Price Analysis XRP Chart

    Looking at the chart, ripple price is clearly trading in a bullish zone above the $0.3600 and $0.3550 support levels. Therefore, if there is a fresh downside correction, buyers are likely to protect $0.3550 and the 100 hourly SMA. On the upside, sellers need to keep an eye on $0.3750 and $0.3780. A successful follow through above $0.3780 and $0.3800 is likely to push the price towards the $0.3850, $0.3900 or even $0.4000.

    Technical Indicators

    Hourly MACD – The MACD for XRP/USD is placed nicely in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level.

    Major Support Levels – $0.3600, $0.3550 and $0.3520.

    Major Resistance Levels – $0.3700, $0.3750 and $0.3780.
     
  7. John Mirake

    John Mirake Contributor

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    The graph of BTC, ETH, XRP, and LTC etc. could up and down. So, It's not possible at the same stick position.
     
  8. Quiks

    Quiks Contributor

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    Ethereum (ETH) Price Hesitates But Further Gains Seem Likely

    [​IMG]

    ETH price traded to a new 2019 high near $188 and recently corrected lower against the US Dollar.
    The price corrected below the $180 level and tested the key $174-175 support area.
    There is a major bullish trend line in place with support at $174 on the hourly chart of ETH/USD (data feed via Kraken).
    The pair remains supported on dips and it is likely to test the $188 or even $190 level in the near term.
    Ethereum price remained well bid on the downside versus the US Dollar and bitcoin. ETH corrected lower recently, but it found a strong support near the $174-175 area.

    Ethereum Price Analysis

    Yesterday, we saw a fresh increase above the $180 resistance in Ethereum price against the US Dollar. The ETH/USD pair traded above the $185 level and tested the $188 level. The pair struggled to retain the bullish momentum and later corrected below the $185 level. There was a break below the $180 level and the 50% Fib retracement level of the last wave from the $165 low to $188 high. There was even a spike below the $175 level, but the $174 level acted as a strong support.

    Besides, the 61.8% Fib retracement level of the last wave from the $165 low to $188 high acted as a support. The price bounced back and traded above the $176 and $178 levels. It even spiked above the $180 level, but the $183 level prevented gains. It seems like there is a connecting bearish trend line in place with resistance near $182 on the hourly chart of ETH/USD, which is acting as a hurdle. A clear break above the trend line and $184 might open the doors for more gains.

    The next key resistance is near the $188 level, above which the price is likely to test the $190 level. On the downside, there is a strong support formed near $174 and $175. There is also a major bullish trend line in place with support at $174 on the same chart. The trend line support near $174 also coincides with the 100 hourly simple moving average.

    Ethereum Price Analysis ETH Chart

    Looking at the chart, Ethereum price seems to be trading above a couple of important supports near $174. As long as the price stay above $174 and the 100 hourly SMA, it is likely to bounce back towards $184 and $188. There are even chances of a break above the $190 level.

    ETH Technical Indicators

    Hourly MACD – The MACD for ETH/USD is about to move back into the bullish zone.
    Hourly RSI – The RSI for ETH/USD declined recently and tested the key 50 level.
    Major Support Level – $174
    Major Resistance Level – $182
     
  9. RaimondRandom

    RaimondRandom Contributor

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  10. Quiks

    Quiks Contributor

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    Bitcoin (BTC) Bulls Take Back Seat, $4,850 Holds The Key

    [​IMG]

    Bitcoin price started a major downward move after it failed to stay above $5,150 against the US Dollar.
    The price declined below the $5,080 and $5,000 support levels to enter a short term bearish trend.
    There is a key declining channel in place with resistance at $5,040 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    The pair could decline further towards the main support near $4,850, where bulls could take a stand.
    Bitcoin price failed to hold the key $5,220 and $5,150 supports against the US Dollar. BTC even dipped below $5,000 and it may continue to slide towards the key $4,850 support area.

    Bitcoin Price Analysis

    Recently, there was a bearish reaction below the $5,350 support in bitcoin price against the US Dollar. The BTC/USD pair started a major downward move after sellers managed to push the price below the $5,220 and $5,150 support levels. It opened the doors for more losses, with a close below $5,150 and the 100 hourly simple moving average. The price even broke the $5,000 support area and traded close to the $4,920 support area.

    A swing low was formed at $4,922 and the price is currently consolidating losses. It tested the 23.6% Fib retracement level of the recent drop from the $5,463 high to $4,922 low. There is also a key declining channel in place with resistance at $5,040 on the hourly chart of the BTC/USD pair. The pair could spike above the $5,040 and $5,050 levels. However, upsides are likely to be contained near the $5,080 and $5,100 levels. The main resistance is near the $5,150 level, above which bitcoin price could test the 50% Fib retracement level of the recent drop from the $5,463 high to $4,922 low.

    The current price action is suggesting more losses below the $4,920 support level. The next main support is at $4,850, which was a resistance earlier. Bulls are likely to take a stand near $4,850. If they fail to protect $4,850, the price could test the $4,720 support.

    Bitcoin Price Analysis BTC Chart

    Looking at the chart, bitcoin price clearly struggled in the past two sessions and settled below the $5,150 support. In the short term, there could be an upside correction, but upsides are likely to be capped near $5,080 or $5,100. Therefore, there are chances of another downside push below $4,920 before bulls appear near the $4,850 support area.

    Technical indicators:

    Hourly MACD – The MACD is showing negative signs in the bearish zone.
    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD recovered recently from 30 and it is currently near the 40 level.
    Major Support Levels – $4,920 followed by $4,850.
    Major Resistance Levels – $5,040, $5,080 and $5,150.
     
  11. RaimondRandom

    RaimondRandom Contributor

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    I think, it will bounce soon to 5200
     
  12. RaimondRandom

    RaimondRandom Contributor

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    BTC was about 5200, and now for me 4900 is most likely direction
     
  13. RaimondRandom

    RaimondRandom Contributor

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    I hurried with my forecast ... the bullish momentum is still present
     
  14. Quiks

    Quiks Contributor

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    Ripple (XRP) Price Drops Significantly, Next Leg Underway?

    [​IMG]

    Ripple price declined further below the $0.3040 and $0.3000 support levels against the US dollar.
    The price remained in a bearish zone below $0.3200 as discussed in yesterday’s analysis.
    There is a major bearish trend line in place with resistance at $0.3060 on the hourly chart of the XRP/USD pair (data source from Kraken).
    The pair could correct higher in the short term, but it is likely to decline further towards $0.2850.
    Ripple price extended losses and broke key supports against the US Dollar and bitcoin. XRP is currently in a bearish zone and it could continue to move down towards $0.2850 or $0.2820.

    Ripple Price Analysis

    Yesterday, we saw the start of a strong decline from the $0.3300 resistance area in ripple price against the US Dollar. The XRP/USD pair declined sharply below the $0.3250 and $0.3220 support levels. There was even a close below the $0.3200 level and the 100 hourly simple moving average. A swing low was formed near $0.3175 and later the price corrected higher. It moved above $0.3200, but it failed below the 50% Fib retracement level of the drop from the $0.3288 high to $0.3175 low.

    As a result, there was a fresh decline below the $0.3175 support area (as discussed in yesterday’s analysis). There was a sharp decline below the $0.3100 and $0.3040 support levels. The price even broke the $0.3000 support to register more than 10% intraday drop. It traded close to the $0.2900 level and a swing low was formed at $0.2904. At the moment, the price is consolidating losses above the $0.2910 level. It recovered above the 23.6% Fib retracement level of the recent drop from the $0.3216 high to $0.2904 low. On the upside, there are many hurdles near the $0.3050 and $0.3060 levels.

    There is also a major bearish trend line in place with resistance at $0.3060 on the hourly chart of the XRP/USD pair. The trend line coincides with the 50% Fib retracement level of the recent drop from the $0.3216 high to $0.2904 low. Therefore, it won’t be easy for the bulls to push the price above the $0.3050 and $0.3060 resistance levels.

    Ripple Price Analysis XRP Chart

    Looking at the chart, ripple price is clearly under a lot of bearish pressure below $0.3100 and the 100 hourly SMA. There is a risk of more losses below the $0.2900 support levels. Sellers may push the price towards $0.2850 or even $0.2820.

    Technical Indicators

    Hourly MACD – The MACD for XRP/USD could move back in a bearish zone in the short term.
    Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 and 40 levels.
    Major Support Levels – $0.2900, $0.2850 and $0.2820
    Major Resistance Levels – $0.3050, $0.3060 and $0.3070
     
  15. RaimondRandom

    RaimondRandom Contributor

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    It's strange that ETH and XRP didn't rise with BTC. XRP even declining:emoji_nerd:
     
  16. RaimondRandom

    RaimondRandom Contributor

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    Or do whales pump BTC only because they don't have money for other coins?
     
  17. tongzhengshijie

    tongzhengshijie Scholar

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    Wafcoin teaches you to invest rationally!


    Investment itself is a game. The real meaning of investment is that investors improve their ability to use and control money, which is the ability to make money.

    Wafcoin reminds you that investment needs to be rational and rationality will be paid off!

    So for ordinary people, how can we make rational investment?

    [​IMG]


    First of all, consumption must be controlled and planned. For a limited income, consumption is spending money. In terms of consumption, it is suggested that investors should be restrained and adjust their expense to their income.


    Second, investment, we must understand the risks and benefits. Before investing, investors should understand that in addition to a small number of investments, investment always faces a choice of "dilemma". The traditional deposit has almost no risk and the return is low. Other investments, such as Internet financial management, have to bear certain risks, but sometimes the returns are very good. Therefore, when you invest, you must understand the risks and benefits.


    Third, investment is a "gambling". Don't fantasize about getting rich overnight. It can't be regarded as investment. It is more about speculation, or simply "gambling" .This mentality is not advisable.


    Fourth, reasonable collocation to diversify investment risks. Investment is risky, but the risks can be dealt with. To deal with this is to diversify the investment risks and reduce investment risks. That is often mentioned by the editor that eggs cannot all be put in one basket.

    [​IMG]

    Fifth, investment is a dynamic process. Generally speaking, we have corresponding investment programs and plans before investing. And investment is a dynamic process, meaning that for people who manage funds, the direction of investment may need to change in time.


    Finally, moderate investment, long-term persistence. Investment is essential, but not all, and moderation is important. You also need to reserve a certain amount of reserve funds, and emergency funds are used for emergency needs. In addition, investment needs to pay attention to the long-term, especially the investment with long investment cycle, which requires persistence and long-term investment.


    After talking about rational investment, let’s take a look at the good investment options right now. Recently, with the convening of the two sessions, the blockchain has once again become a hot spot of concern. At the same time, the sharp rise of platform token has also attracted everyone's attention. As the world's first dual-licensed trading platform, Wafcoin has attracted a large number of users with its characteristics of security, freedom, autonomy, efficiency and transparency. The platform token issued by it has also won the first place in this rise.


    As a platform token, WA survived the bear market strongly because of its strong value and advantages: optimized complex off-the-counter purchase, users can quickly and fast carry out trading operations; zero funds to enter the market, no capital risk to get profit and other advantages, avoiding many risks for users and stabilizing asset security; WA's global issuance will never increase, helping it to have a very high investment value.


    Secondly, in the future development of WA, the project team pays more attention to the multi-domain, multi-scenario and application of WA, which further enhances the investment value of WA. The platform has reached a deep strategic cooperation with Newbuy Mall, the world's first cross-border e-commerce provider that supports clearing and settlement. All the tokens that are circulating on WA and the platform can be consumed in the mall, which constantly stimulates and increases the value of WA.


    Rational investment, WA is your first choice!
     
  18. rastaputin

    rastaputin Contributor

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    BTC is holding market dominance. The plan is simple - once you make BTC rocket to take off, altcoins will follow. Precisely the same situation as with US stock market crashes which cause stock crashes in the rest of the global stocks
     
  19. Quiks

    Quiks Contributor

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    Bitcoin (BTC) Price Eyeing Last Line Of Defense: Buy Dips?

    There was a strong decline in bitcoin price below the $5,280 support level against the US Dollar.
    The price even spiked below the $5,000 support level and it is currently consolidating above $5,100.
    There is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
    The pair could bounce back as long as there is no weekly close below the $5,000 support level.
    Bitcoin price started consolidating losses after a strong decline against the US Dollar. BTC is likely to recover above $5,200 and $5,280 in the near term unless the $5,000 gives way.

    Bitcoin Price Weekly Analysis (BTC)

    This past week, there was a significant rejection in bitcoin price near the $5,660 level against the US Dollar. The BTC/USD pair started a strong downward move below $5,400 after tether’s drama. The price tumbled below the key $5,280 and $5,200 support levels. There was even a spike below $5,000, plus a close below the 100 simple moving average (4-hours). A swing low was formed near the $4,910 level and recently the price recovered above $5,000 and $5,050.

    At the moment, the price is testing the 50% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low. However, the $5,220 area and the 100 simple moving average (4-hours) are acting as hurdles. Above $5,220, there is a major resistance near $5,280 and a connecting bearish trend line. The 61.8% Fib retracement level of the last drop from the $5,510 swing high to $4,910 swing low is also near the $5,280 level. A successful close above the $5,280 level might trigger a decent recovery in the near term.

    On the downside, there is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC/USD pair. The trend line support near $5,080 is very important, below which the price could test $5,000. If there is a daily close below $5,000, the price is likely to move further into a bearish zone. In the mentioned case, the price will most likely test $4,800 or $4,750.

    Bitcoin Price Weekly Analysis (BTC)

    Looking at the chart, bitcoin price faced a strong selling interest below $5,400. However, it managed to stay above the $5,000 support. Therefore, there are chances of a recovery above the $5,280 resistance levels. If there is a close above $5,280, there are chances of move towards $5,400 or even $5,500.

    Technical indicators

    4 hours MACD – The MACD for BTC/USD is slowly moving into the bullish zone.
    4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is back above the 40 level, with a few positive signs.
    Major Support Level – $5,050
    Major Resistance Level – $5,280
     
  20. Quiks

    Quiks Contributor

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    Ripple (XRP) Price Holding Key Support: Fresh Upside In Play



    Ripple price traded towards the $0.3080 level and recently corrected lower against the US dollar.
    The price traded lower and broke the $0.3040 and $0.3020 support levels.
    There is a key bullish trend line in place with support near $0.2965 on the hourly chart of the XRP/USD pair (data source from Kraken).
    The pair could dips a few points, but it is likely to bounce back as long as it is above $0.2950
    Ripple price is trading with a positive bias above key supports against the US Dollar, but struggling vs bitcoin. XRP could bounce back as long as it is holding the $0.2950 support.


    Ripple Price Analysis

    Yesterday, we saw a nice upward move in ripple price above the $0.2950 and $0.3000 resistances against the US Dollar. The XRP/USD pair gained traction and broke the $0.3050 level as well and settled above the 100 hourly simple moving average. It traded close to the $0.3090 level and formed a new swing high near $0.3088. Later, it started a downside correction and traded below the $0.3050 support. There was a break below the 23.6% Fib retracement level of the last wave from the $0.2835 low to $0.3088 high.

    The price even cleared the $0.3000 support level and tested the main $0.2950 support level. Besides, the 50% Fib retracement level of the last wave from the $0.2835 low to $0.3088 high prevented losses. The price is currently moving higher and trading well above $0.2950. There is also a key bullish trend line in place with support near $0.2965 on the hourly chart of the XRP/USD pair. The pair seems to be well supported near $0.2960 and $0.2950. Besides, the 100 hourly SMA is also positioned near the $0.2950 support area.

    On the upside, an initial resistance is near the $0.3000 level, above which the price may test $0.3020. However, a successful close above $0.3050 will most likely set the pace for more gains above the $0.3100 resistance level. The next key resistances are near $0.3120 and $0.3125.


    Ripple Price Analysis XRP Chart

    Looking at the chart, ripple price is clearing trading above the key $0.2960 and $0.2950 support levels. If there is a downside break below the $0.2950 support and the 100 hourly SMA, the price could move into a bearish zone. An immediate support is near the $0.2910 level, below which the price may revisit the $0.2850 support level in the near term.

    Technical Indicators

    Hourly MACD – The MACD for XRP/USD is slowly moving in the bearish zone.
    Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently below the 50 level, but it is holding the 40 level.
    Major Support Levels – $0.2960, $0.2950 and $0.2910. ;)
    Major Resistance Levels – $0.3020, $0.3050 and $0.3085. :(
     

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