Markets Test Supports While Cosmos Bucks the Trend

2019-12-12 17:03

Little changed in the cryptocurrency market since Wednesday, though a number of top cryptocurrencies briefly tested below under critical technical support level.

Bitcoin moved toward the psychological $7,000 level as a bearish triangle breakout continues to weigh on the BTC/USD pair’s short-term technicals. It posted a short recovery since.

Litecoin moved within touching distance of the November 24th price low, while Ethereum probed towards the $142.00 level and traded around 4.5 percent lower on a monthly basis.

Cosmos is outperforming the broader cryptocurrency market alongside Tezos, with the ATOM/USD pair adding around eight percent to its value.

The total cryptocurrency market capitalization is currently $190 billion as measured by TradingView, a loss of $12 billion since Monday.

Cosmos

Cosmos is currently undergoing a minor technical pullback after staging a rally towards the $4.00 level. The ATOM/USD pair’s ability to withstand the recent crypto bear market is certainly impressive.

The price is currently anchored around the ATOM/USD pair’s 200-day moving average, with the cryptocurrency retaining a bullish short and medium-term outlook.

According to trendline analysis, a breakout above the $4.10 level could propel the ATOM/USD pair significantly higher. The new medium-term price range for Cosmos could extend towards $5.00 to $8.00.

ATOM/USD Daily Chart by TradingView Total Market Capitalization

The chart of the total market capitalization on the lower time frames shows that a bearish head and shoulders pattern breakout is nearing.

A decline below the $187 billion level could trigger the pattern and cause a wave of cryptocurrency selling. The $180 to $175 billion level is the likely downside objective. 

A rally above the $205 billion level is currently needed to negate the bearish pattern.

Crypto Total Market Cap Daily Chart by TradingView Overall Sentiment

According to the latest data from The TIE, sentiment toward the cryptocurrency market is neutral at 50 percent.

Ethereum has the strongest sentiment among the top 10 at 73 percent. Meanwhile, EOS has the weakest at 44 percent.

The post Markets Test Supports While Cosmos Bucks the Trend appeared first on Crypto Briefing.

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Источник: cryptobriefing.com

level bearish → Результатов: 126


Tezos Price Analysis: Continuous Growth

Tezos has a bullish short-term and medium-term trading outlook The four-hour time frame shows that a bearish reversal may start to take place The daily time frame continues to show the presence of a large bullish pattern   Tezos is starting to correct lower after the cryptocurrency recently rallied to its highest trading level since […] The post Tezos Price Analysis: Continuous Growth appeared first on Crypto Briefing.

2019-12-11 19:17


Фото:

Is Bitcoin Still Over Valued Despite a 50% Correction?

Bitcoin has turned bearish again this week following an 18% climb the previous week. Market sentiment is generally negative and analysts are eyeing further losses and a return to the $6k level. Is BTC still that overvalued? According to Metcalfe’s Laws BTC is Overvalued Bitcoin took another turn south during early Asian trading today when it fell almost 3% in just over an hour.

2019-12-4 12:00


Zcash Price Analysis: Bullish Opportunity

Zcash has a bearish short-term and medium-term trading bias The four-hour time frame shows that a bullish inverted head and shoulders pattern has been invalidated The daily time frame shows the presence of bullish MACD divergence Zcash has slipped to its lowest trading level since March 2019, following the recent decline in the broader cryptocurrency […] The post Zcash Price Analysis: Bullish Opportunity appeared first on Crypto Briefing.

2019-11-27 19:01


Litecoin Price Analysis LTC/USD: Downfall

Litecoin has a bearish short-term and medium-term trading bias The four-hour time frame shows that the LTC/USD pair is trading in a descending price channel A sustained loss of the $47.00 level would be extremely bearish for Litecoin Litecoin has erased its early month trading gains, leaving the cryptocurrency testing back towards the October monthly […] The post Litecoin Price Analysis LTC/USD: Downfall appeared first on Crypto Briefing.

2019-11-22 17:22


Binance Coin Price Analysis BNB/USD: Consecutive Losses

Binance Coin has a bearish short-term and medium-term trading bias The four-hour time frame shows that a bullish inverted head and shoulders pattern is still present A loss of the $16.00 level would be extremely bearish for the BNB/USD pair Binance Coin remains under pressure alongside the broader cryptocurrency market, with the BNB/USD pair trading […] The post Binance Coin Price Analysis BNB/USD: Consecutive Losses appeared first on Crypto Briefing.

2019-11-22 21:12


Majority of Bitcoin holders are still in profit, $6,649 could be BTC’s key support level

Despite Bitcoin’s recent bearish condition and low market sentiment, the majority of Bitcoin holders are still in profit, according to data from the crypto analytics platform IntotheBlock. Just over 59 percent of addresses hold Bitcoin bought with an average purchase price below $7,470, putting them “in the money” on unrealized gains even after the cryptocurrency’s […] The post Majority of Bitcoin holders are still in profit, $6,649 could be BTC’s key support level appeared first on CryptoSlate.

2019-10-25 12:30


Bitcoin Cash Price Analysis BCH / USD: Another $10 To Liftoff

Bitcoin Cash is currently bearish over both the short-term and the medium-term  The four-hour time is showing that a breakout above the $242.00 level could trigger a major up move A bearish head and shoulders pattern is still weighing on the BCH  USD pair Bitcoin Cash has moved away from the worst levels of the […] The post Bitcoin Cash Price Analysis BCH / USD: Another $10 To Liftoff appeared first on Crypto Briefing.

2019-10-21 17:35


Bitcoin fails to recover as weekly volume on BitMEX drops 72% in 3 months, traders bearish

The Bitcoin price has failed to push above a relatively low resistance level at $8,374, making a bigger pullback into the mid-$7,000 region more likely. According to Arca’s chief investment officer Jeff Dorman, the current state of the cryptocurrency market, given the low volume of bitcoin, incentivizes traders to short bitcoin until bottom levels are […] The post Bitcoin fails to recover as weekly volume on BitMEX drops 72% in 3 months, traders bearish appeared first on CryptoSlate.

2019-10-18 07:06


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