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

As Australia Burns, Binance Donates $1 Million Worth Of BNB

Australia is in severe pain as massive bushfires spread across the country with a staggering 10 million hectares of land consumed by the ferocious flames, leaving at least 2500 buildings destroyed and 25 people and 500 million animals dead. Binance To Help With Australia’s Distress Many institutions and people from around the world, including foreign governments, private institutions, celebrities, and everyday people, have responded to the country’s current situation by offering prayers, thoughts, and donations to the Australian burnfire relief. One of the latest donations comes from the Binance Charity Foundation, the blockchain-based charity division of the world’s leading crypto exchange Binance. Binance Charity announced January 7 that it had made a $1 million (A$1.45m) worth of BNB donation as a lead for its new charity project, Australia Bushfire Donations, to raise funds for the dire situation in Australia. According to Binance, the funds raised in the new initiat...
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

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