Skip to main content

CRYPTO PRICE ANALYSIS & OVERVIEW: BITCOIN, ETHEREUM, RIPPLE, BNB, HUOBI TOKEN



Bitcoin




The pater we saw when Bitcoin jumped from $5,000 to $9,000 is currently repeated with greate volatility and a more significant correction. The support at $10,000 is fragile and it’s being tested in the past week. If this line of support breaks, the next one will be at $9,400. The resistance is currently at $11,000.

Ethereum

Against the USD, we’ve tested the support at around $200. The resistance in this range is at $230. Technically, the resistance before the last wave of gains was at $180 and as long as the support holds above it, this means that the trend is still here.



Against Bitcoin, ETH stabilized around the support at 0.02BTC which is a critical area. The resistance in this range is at 0.024BTC. Despite the steady week, there are still concerns that the declines will continue.


Ripple

Against the USD, XRP suffered in 2018 as most of the market did. However, 2019 seems to be relatively stable with a bottom at 29 cents which is also the support. Resistance in this range is at 34 cents. If we ignore the attempts to breach $0.50 and the sharp correction that followed, technically speaking, the action is considered stable.


Against BTC, the support in this range is at around 2900SAT while the resistance is at 330SAT. It’s not clear whether the downtrend has reached its bottom, but with the correction in Bitcoin, the price appears to be stabilizing for now.


BNB

Against the USD, we saw a correction of the trend and the price pulled back to the support at $28 range. Resistance in this range is around the 50MA at $32.


A correction of up to 0.0024BTC is pending against BTC. Traders don’t seem to be pressured and the funds which are raised on Binance Launchpad continue to flow as usual. Resistance in this range is at 0.003BTC. If it breaks, the next resistance is at 0.0032BTC.


Huobi Token

Against the dollar, we saw a successful year so far which went through a notable increase, a correction, and a comeback. The price went to $6, fell back to $0.90 and then surged again to resistance levels at $5. The support is now at $4.40. It’s also important to consider that a sharp correction is still in play.


Against BTC we saw a double trend which completed correction and another breakout attempt after the resistance broke out at $0.0004BTC and became support. The next resistance is at $0.00047BTC.




Comments

Post a Comment

Popular posts from this blog

Bitcoin Hash Rate Hits All-Time High: Here’s How It Works And How It Affects The Price

Bitcoin intelligence, data, and analytics firm Glassnode found the Bitcoin hash rate hit a new all-time high over the weekend, ten days before the Bitcoin halving event. In other words, miners are putting more computational power into maintaining the Bitcoin network. Because miners must venture electricity and capital intensive computer processors to mine Bitcoin, the increase in hash rate is a bullish sign. It means miners are after the Bitcoin rewards they get from maintaining the network. And they’re venturing the resources to go after those rewards. Is The Bitcoin Hash Rate Correlated With The Price? In general, the Bitcoin price and the hash rate are not correlated. The price is what buyers and sellers agree to pay for one Bitcoin, and there are many factors – external and internal – affecting the price. However, there is a relation between the two. While the price goes up, it’s more profitable to mine, which likely to cause more miners to turn on their mining equ...
Post a Comment
Read more

Legendary Rock Star Gene Simmons Buys Cardano (ADA) Worth $300,000

Famous rock star Gene Simmons continues his cryptocurrency adventure, this time investing $300,000 in Cardano (ADA). Gene Simmons, the legendary KISS bassist, has made another dip into cryptocurrencies. The famous musician has expressed his belief in Cardano, presuming 2021 would be “the most productive year” for the altcoin. Believing in the Future of Cardano Rock star Gene Klein, aka Gene Simmons, has appeared in online social media with yet another pro-cryptocurrency commentary. This time KISS’s legendary bass guitarist has expressed his opinion on Cardano and its native digital coin ADA. In his  recent publication  on Twitter, Simmons explained one of his fundamental personal reasons for  investing  and holding the altcoin. The musician pointed out that he believes in Cardano because of Hoskinson (Charles) – Cardano’s creator and co-founder of Ethereum. In his tweet, the musician expressed his trust in the altcoin hopping on Hoskinson’s envision that 2021 would b...
Post a Comment
Read more

South Korea Won’t Tax Cryptocurrency Profits, For Now

Good news for cryptocurrency traders in South Korea as profit generated from crypto trading will not be subjected to tax, according to a recent announcement from the country’s Ministry of Finance and Strategy. The Ministry clarified that the current tax law does not consider crypto trading gains as taxable income; thus, Korean crypto traders are not required to pay taxes on the profits they earn from crypto trading for the time being.  However, crypto traders in the country may not be exempted from taxation for a long time. An official of the Ministry said that the Ministry is aware of the loophole in the current tax law, and they are currently reviewing the regulations in major foreign countries so that they can amend theirs in an effective way. “The income tax law is only taxable on income listed as taxable. We are preparing a taxation plan for virtual assets by comprehensively reviewing the taxation of major countries, consistency with accounting standards, and trend...
Post a Comment
Read more