Bitcoin’s firm 2020 uptrend has allowed major altcoins to incur some much-needed momentum, with many major cryptos currently pushing up against key multi-year resistance levels that have been suppressing their price action for years.
This positive price action over the past month may be enough to break the firm bear market that altcoins have been caught within and lead some major cryptocurrencies – like Litecoin and others – to see some massive momentum.
Altcoins Begin Breaking Key Resistance Levels as the Crypto Market Shows Signs of Bullishness
Most major cryptocurrencies have been closely tracking Bitcoin’s price action over the past several days and weeks, which means that they have largely seen decent sized gains over the past 24 to 48 hours.
Currently, Ethereum is trading up just over 1% at its current price of $176, which marks a notable climb from recent lows of $170. Litecoin has also posted some slight gains today, climbing 1% to $60.
Over a multi-day period, most altcoins have incurred significantly larger gains than what is reflected in their 24-hour price action, as the bulk of yesterday’s uptrend occurred over 24-hours ago.
This momentum may extend significantly further, however, as analysts are now noting that major altcoins like Litecoin are on the cusp of a notable breakout, with LTC potentially climbing from its current price of 0.006 BTC to 0.008 BTC.
Smokey – a popular cryptocurrency analyst on Twitter – spoke about this possibility in a recent tweet, saying:
“LTC | BTC | Daily TF: Planning on longing LTC if it breaks out and retests .006890. Decent upside from there to nearly .008.”
$LTC | BTC | Daily TF
Planning on longing LTC if it breaks out and retests .006890
Decent upside from there to nearly .008 pic.twitter.com/zyKHQjB8Wg
— TraderSmokey (@SmokeyXBT) January 28, 2020
Are the Crypto Markets About to Break Their Multi-Year Bear Trend?
Litecoin isn’t the only major altcoins currently poised for a major breakout.
Bob Loukas – another well-respected crypto analyst – explained in a tweet that although it is still too early to say for certain, it does appear that the altcoin markets are on the brink of breaking their multi-year downtrend against their Bitcoin trading pairs.
“Relative to #Bitcoin, the Alt’s have been in almost 2 year bear market since early 2018, soon after the Bitcoin/USD bubble top. Early Days yet to call, but seeing some signs of possible end in bear market for Alt’s,” he explained while referencing the charts of multiple notable altcoins like Litecoin, EOS, and Ethereum Classic.
Relative to #Bitcoin, the Alt's have been in almost 2 year bear market since early 2018, soon after the Bitcoin/USD bubble top.
Early Days yet to call, but seeing some signs of possible end in bear market for Alt's. Weekly charts.$EOS $ETC $XMR $ZEC $LTC pic.twitter.com/mJFmHdvxFV
— Bob Loukas (@BobLoukas) January 27, 2020
How the markets trend in the coming several weeks should provide deep insight into how they will trade throughout the rest of 2020.
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Bitcoin has been the best performing major cryptocurrency by far, with most large altcoins severely underperforming it throughout the past few days and weeks. While many investors allocated serious capital to altcoins in hopes of smaller tokens being a higher beta play that outperform BTC, the benchmark cryptocurrency’s massive upswing has sucked all the oxygen […]
Although XRP was one of the worst performing major altcoins in 2019, the crypto was able to incur some notable momentum throughout the past month that has allowed it to gain what appears to be a stable foothold within the $0.
The majority of altcoins have been trending downward when looking at their BTC pairs. The recent upward movement of some major coins has led some to believe that a bullish cycle for altcoins is right around the corner.
Ethereum (ETH) along with most other major altcoins has been able to post a decent climb today, with the crypto rallying into the $170 region while Bitcoin pushes up towards $9,000. It is important to note that this rally may just be getting started, as one prominent cryptocurrency analyst explained in a recent tweet that... The post appeared first on NewsBTC.
The aggregated crypto markets have been subjected to the volatility experienced by Bitcoin over the past several days, which has primarily favored bears. The recent market-wide downswing has led altcoins like Bitcoin Cash to shed some of their recent gains, although their market structures still remain firmly bullish.
Numerous inhabitants of Crypto Twitter are waiting for the new 'altseason' or the bullish run of major altcoins. Maybe, Cardano (ADA) will lead this rally?
XRP and the majority of other major altcoins have been able to develop firmly bullish market structures over the past few weeks, which has been driven by the massive 2020 uptrend that the crypto market is currently caught within.
The ADA price has increased by more than 10 percent over the past week. The recent short-term breakout above a resistance area could have been the first step that precedes a major price rally. Trader @CryptoMichNL outlined a price movement which he believes is present in numerous altcoins.
Overnight, Bitcoin faced a firm rejection after attempting to garner significantly further upwards momentum. This instantly led major altcoins like XRP and Ethereum to drop in tandem, shinning a light on some potential underlying weakness within the crypto markets.
It has grown increasingly unclear in recent times as to whether or not the aftermath of the recent uptrend seen by Bitcoin and major altcoins like Ethereum (ETH) marks any type of fundamental shift in market structure, or if it is simply another lower-high that will be followed by further losses.
It’s no secret that 2020 has been a great year for Bitcoin and the entire crypto markets, as the first two weeks of the New Year have allowed BTC to surge from lows of $6,800 to highs of $8,900, while many major altcoins have begun starting parabolic rallies.
The crypto market’s firm uptrend has allowed multiple major altcoins to begin going parabolic, which to many investors is emblematic of the early stages of the massive bull run seen in late 2017. The recent series of rallies seen by both Bitcoin and other major altcoins has allowed the market to break out of a […]
The post Crypto market incurs technical strength as altcoins begin turning parabolic appeared first on CryptoSlate.
The price of Bitcoin SV [BSV] has surged by almost 125% since Monday, contributing to most major altcoins reflecting this sudden pump. The second-largest cryptocurrency by market cap, Ethereum [ETH] tThe post DeFi's TVL receives another boost as it registers all-time high appeared first on AMBCrypto.
Bitcoin has been able to significantly extend its recently incurred upwards momentum, creating a strong upwards tailwind that has allowed nearly all major altcoins in the crypto market to post massive gains over the past couple of days and weeks.
Ethereum and the aggregated crypto markets have rallied over the past 24-hours, catching the massive upwards tailwind created by Bitcoin’s surge to highs of $8,800. This rally has led ETH to climb into the $150 region as it outperforms BTC and many other major altcoins.
Bitcoin’s bulls have been able to hold the benchmark cryptocurrency above the $8,000 level for the past 24-hour, signaling that they have some significant strength at the moment. This strength has spilled over into the altcoin markets, leading many cryptos to incur notable near-term gains.
Bitcoin’s uptrend throughout the first ten days of 2020 has allowed most major altcoins to put some distance between their current prices and their recent lows. Many of these altcoins have been underperforming BTC, although this may soon change as the aggregated crypto market begins incurring some major momentum.
Bitcoin’s strong bounce at its key near-term support level at $7,700 has provided relief to the aggregated crypto market from yesterday’s immense selling pressure, allowing multiple major altcoins to push up against or break above their key near-term resistance levels.
EOS, like most major altcoins, is currently caught in a short-term downtrend that has come about as a result of Bitcoin’s recent rejection at $8,400. It, however, still remains in a firm uptrend while looking at its 30-day price action, and technical analysis may suggest that it is primed for significantly further bullishness.
One of the major drawbacks with regards to the crypto-industry is the lack of substantial data over a long period of time. The industry is still considered to be at its nascent stage as constructive lThe post Altcoins significantly impacted by crypto-conferences, events: TIE's Joshua Frank appeared first on AMBCrypto.
Chainlink (LINK) has been one of the best performing major cryptocurrencies of the past year, setting fresh all-time highs in 2019 while most major altcoins were still facing immense bearishness that spilled over from the 2018 market crash.
The prices of most major cryptocurrencies have responded positively to the new year. With the price of Bitcoin [BTC] rising, other altcoins are following its lead and noting a spike in price too.
They say that a rising tide lifts all boats, and this saying is especially true within the crypto markets, with Bitcoin being the tide and the various major altcoins being the boats that tend the follow its lead.
XRP was one of 2019’s biggest losers, posting sizeable year-to-date losses in spite of the massive gains incurred by Bitcoin and some other major altcoins. This poor price action has largely stemmed from controversy surrounding the token’s close ties to FinTech company Ripple.
Ethereum and most major altcoins have incurred significant upwards momentum over the past day, which stems from Bitcoin’s notable surge from lows of $6,800 to highs of $7,400. ETH, which is slightly underperforming BTC, has been able to reclaim its positive within the $130 region, and is showing growing signs of bullishness.
Today crypto market goes green with 24h rise of 3-6% for some major altcoins. Mainly, it is caused by U.S. rocket attacks, but Litecoin announced important tech novelty.
Yesterday proved to be a positive day for many cryptocurrencies, as Bitcoin’s fleeting rally allowed most major altcoins to post gains of 3% or more. XRP, which has been struggling to gain momentum over the past few days, attempted to break back into the $0.
The precarious nature of Bitcoin’s recent price action does not lend itself to helping generate bullish price action amongst major altcoins, but one prominent analyst is noting that he believes Ethereum, XRP, and Bitcoin Cash are all decently positioned to see further upside against their USD trading pairs in the near-term.
The cryptocurrency markets have been struggling to garner any decisive momentum in one direction or another over a shorter time frame, with Bitcoin (BTC) leading most major altcoins to range sideways.
Many have speculated that Ethereum prices are on the floor because of the threat of major delays to ETH 2. 0. In reality all altcoins have suffered this year, but ETH losses are constantly getting battered.
Investors have long been awaiting another 2017-esque bull run that shakes up the standing of the top cryptocurrencies and possibly leads some smaller altcoins to see meteoric gains that propel them up to the top of the markets.
Yesterday was an overwhelmingly bullish day for the cryptocurrency markets, with Bitcoin posting a large surge from its lows of $6,400 that led Ethereum (ETH) and most other major altcoins to climb as much as 10%.
Coinspeaker XRP Price Is the Lowest in 2 Years: Will It be the Worst Performer of the Year?XRP has been one of the worst-performing major cryptocurrencies in 2019, as it failed to garner any upwards momentum throughout the first half of the year, unlike Bitcoin and all the other major altcoins.
It was only after continuous selling pressure suppressed the price of Bitcoin, Ethereum, and a few other major altcoins that people realized a couple of major Ponzi schemes from 2019 might be unloading their bags into the market.
Analysts have long pointed to Bitcoin’s lack of mainstream credibility as one primary factor that has been stunting its growth, but this appears to be shifting, as prominent economics professors at a major Ivy League university are now advocating for all investors to allocate Bitcoin and a handful of major altcoins to their investment portfolios.
Ethereum and most major altcoins have been closely tracking Bitcoin’s price action as of late, and the aggregated market has been unable to find any decisive momentum over the past few weeks. This lack of momentum has caused ETH to hover around the $150 region as bulls and bears remain deadlocked.
Bitcoin’s recent bout of heightened volatility has spilled over into the aggregated crypto markets, leading major altcoins like Ethereum (ETH) to similarly incur choppy trading that is uncharacteristic of the price action that has been seen over the past month.
It has been a wild week for Bitcoin and the aggregated crypto market, and major altcoins like Ethereum (ETH) have been unable to avoid the massive volatility that has been brought about by Bitcoin’s relatively large price swings that it has faced over the past month.
Bitcoin has been incurring some decent upwards momentum in the time since it visited $6,500, which has allowed major altcoins like XRP to similarly put some distance between their current prices and their recent lows.
Altcoins like Ripple, Stellar, Tron, and Cardano are all among the worst-performing major crypto assets year-to-date, during a year when the rest of the crypto market including Bitcoin made up for lost ground.
Bitcoin and the aggregated crypto markets have been facing increasing bearishness over the past several days and weeks, with many major altcoins posting massive losses as BTC remains stuck below the key resistance levels that will determine whether or not its market structure is bullish.
As 2019 commenced, most major cryptocurrencies rallied to the tune of Bitcoin [BTC] and so did XRP. However, while most major altcoins reported a positive YTD returns, XRP failed to register positivThe post XRP records a two-year low as coin stands still at $0.20 appeared first on AMBCrypto.
Bitcoin’s recent turbulence has spilled over into the aggregated crypto markets, leading most major cryptocurrencies to form a close correlation with its price action – which has proven to be highly bearish for Ethereum (ETH) and other major altcoins.
Several major altcoins have begun to show signs that indicate they will soon begin a new market cycle. We are going to analyze two of them, Cardano (ADA) and Basic Attention Token (BAT), while comparing them with one that has already broken out, WABI.
The Ethereum and EOS long-term charts suggest that they have both reached a bottom and are close to initiating the next bullish market cycle. Since a rapid upward move on Oct 25, most major altcoins have been holding up while Bitcoin has been decreasing.
Bitcoin’s recent drop to the low-$8,000 has sent bearishness echoing across the aggregated market, leading major altcoins like Ethereum to post relatively large losses. ETH, which was testing an upwards break above $190 prior to BTC’s drop, is now trading below a key support level.
As theories on the potential sell-off of Bitcoin by miners emerged amidst declining sentiment around cryptocurrencies, major altcoins like Ethereum and XRP were at risk of a deep pullback. With the majority of altcoins still being correlated with Bitcoin to a large extent and analysts expecting the price of BTC to decline in the short […]
The post As Bitcoin traders bet on a big rebound, did Ethereum and XRP avoid a big drop? appeared first on CryptoSlate.
Litecoin fell 6% to come close to $90 on Wednesday, with LTC feeling the downside pressure as Bitcoin briefly dipped below $90,000 – again. The decline for BTC also saw Ethereum struggling to maintain a key support level, with its price dipping under $3,000.
Key Takeaways
What is the management fee for the Canary XRP ETF?
Canary’s XRP ETF charges a 0. 50% management fee, higher than Bitwise’s 0. 34%.
Who are the key partners supporting the ETF?
U.
Key Takeaways
What is the significance of rising transaction volumes?
Litecoin's all-time high on-chain volume, combined with whale accumulation, underlined conviction from Litecoin network users.
Litecoin celebrates processing 3M blocks that shows 14 years of stability, transparency, and trust that boosts confidence in fast digital payments and DeFi.
Key Takeaways
Why is Litecoin showing strength this cycle?
Litecoin is decoupling from the altcoin pack with +11.83% vs. BTC, boosted by whale accumulation and risk-off hedging.
Is the rally backedThe post Litecoin: THREE reasons LTC could lead Q4 altcoin gains appeared first on AMBCrypto.
Key takeaways
What altcoin ETFs are launching on the NYSE?
Solana, Litecoin, and Hedera ETFs are set to start trading.
How are these ETFs able to launch during the SEC shutdown?
New SEC “generThe post Solana, Litecoin, Hedera ETFs go live on NYSE - A first without SEC review! appeared first on AMBCrypto.
Key takeaways
What triggered Litecoin’s sharp 22% price drop?
A broader market crash caused LTC to fall from $134.40 to $84.79 before partially recovering.
Are traders optimistic about a potentThe post Litecoin down 22% - Could this crash take LTC to $76? appeared first on AMBCrypto.
