After finding support at $225, Litecoin (CRYPTO:LTC) is soaring, up about 30% in the past week. Support is a large concentration of buyers gathered at the same price level. In this case, it was $225. At support levels, there is more demand than supply. That’s why sell-offs end when they reach them, and that’s what happened here. Sometimes stocks or cryptos rally after they fall to support levels. This occurs when some of the buyers sense the presence of the… Source link

During a continued divergence in the crypto markets, where ether posted new all-time highs while bitcoin wallowed at levels almost $10,000 below its peak, the politics and buzz around both continue to spur thought and debate.  In the spirit of that, this week’s newsletter dives into Iran’s ostensibly pro-bitcoin strategy and shows how it contravenes the level playing field values on which bitcoin is built. It also looks at the explosion in non-fungible token (NFT) sales and offers a… Source link

The first half of 2021 has so far offered some significant opportunities for bitcoin bears to be wrong. The most salient of them came this past Sunday, when the bitcoin price suddenly dropped to $47,073.37, down from a freshly set all-time high (just 11 days old), of $64,888.99.  That drop of 27.5% in less than two weeks put bitcoin into bear market territory, at least as far as the normal definition of a bear market is concerned. In equities, the term “bear market” usually applies when… Source link

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice After hitting the resistance level of $296.74, Litecoin saw its price retrace by almost 38% on the charts. Alas, even though a later recovery pushed the price of the digital silver towards $265 at press time, market momentum was still lacking. Litecoin daily chart Source: LTCUSD on TradingView Litecoin’s daily chart suggested that the crypto’s price had… Source link

It looks like Ethereum (CRYPTO:ETH) will continue to consolidate in the near term. Securities tend to make rapid and large moves higher after they break resistance levels. At these levels, there are large groups of sellers. If the level “breaks,” it means these sellers have finished. With this large amount of supply off the market, buyers will need to pay higher prices. This is what causes rallies. See Also: Here’s Why JPMorgan Believes Ethereum Will Continue… Source link

Litecoin price shows a massive spike in buying pressure, pushing it closer to pre-crash levels. The supply barrier extending from $296.75 to $317.09 is the only hurdle preventing LTC’s 65% upswing to $439.41. A breakdown of the demand zone’s upper trend line at $217.97 will invalidate the bullish outlook. Litecoin price shows a resurgence of buyers, which has pushed it past some resistance levels. A continuation of this bullish momentum could see LTC retest a… Source link

Dogecoin has a superfan in Elon Musk, Ripple premined 1 billion XRP coins and Tether is a bridge between traditional money and digital currencies. Image: GettyImages/Yuriko Nakao If you’ve put off learning about digital currencies, now is the time to get up to… Source link

BackyardProduction / iStock.com Cryptocurrencies have skyrocketed in popularity recently and this trend shows no signs of slowing. Given all the talk around these digital assets, you might be wondering whether now is the time to invest. But before pulling the trigger, it’s always a good idea to have an understanding of the underlying asset. Cryptocurrency is no exception and it is quite different than investing in stocks or bonds. Read: Dogecoin’s Major Price Increase: Is It a Worthwhile… Source link

Ethereum Ethereum rose by 0.27% on Thursday. Following on from a 3.14% gain on Wednesday, Ethereum ended the day at $2,758.92. A mixed start to the day saw Ethereum fall to a mid-morning intraday low $2,672.00 before making a move. Steering clear of the first major support level at $2,614, Ethereum rallied to a mid-day intraday high and a new swing hi $2,800.00. Falling short of the first major resistance level at $2,826, Ethereum fell back to sub-$2,700 levels and into the red. Finding late… Source link

The problem with investing in bitcoin is that it instinctively feels too good to be true. The largest cryptocurrency by volume is worth 600 per cent more today than a year ago, soaring from about $7,000 per bitcoin to $54,000 this week, along the way becoming one of the best performing financial assets of 2020. Despite including some extreme price swings, the year-long rally has so far defied fears of a repeat of bitcoin’s spectacular price crash of 2018. Eye-popping returns are making… Source link