Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 21st, 2020

Ethereum Ethereum slid by 2.82% on Tuesday. Reversing a modest 0.21% gain from Monday, Ethereum ended the day at $368.81. It was a mixed start to the day. Ethereum rose to an early morning intraday high $380.90 before hitting reverse. Falling short of Monday’s high $384.69 and the first major resistance level at $385.07, Ethereum fell to a late intraday low $364.04. Ethereum fell through the first major support level at $373.27 and the second major support level at $367.18. More significantly,… Source link

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Bitcoin price rally to $12K is meaningless until bulls flip it to support

On Tuesday Bitcoin (BTC) bulls mustered enough strength to push BTC price slightly above the $12K mark, a level not seen since Sept. 1.  Cryptocurrency daily market performance snapshot. Source: Coin360 The move occurred after Monday’s (Oct. 19) high volume surge to $11,822 was followed by continued buying into Tuesday, providing enough momentum for bulls to push above the ascending channel to $12,038. BTC futures volume by exchange. Source: Digital Assets Data The rally to $12K was also… Source link

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Study finds CME drives Bitcoin price, but it excludes stablecoin volumes

On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery. The firm concluded that “CME Bitcoin futures contribute more to price discovery than its related spot markets.” And the researchers also suggested that: “CME Bitcoin futures have grown to become significant, this is not only demonstrated through trading volume and open interest, but also by influence on spot price… Source link

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Breakout or fakeout? Top traders react to Bitcoin price rally to $12K

Within the past few hours, Bitcoin price rose to $11,988 before pulling back to hover around the $11,900 level. The price is on the cusp of breaking above $12,000, and some analysts have suggested that the dominant cryptocurrency is in the process of decoupling from the rest of the market, including U.S. equities. The general sentiment around Bitcoin (BTC) among analysts and traders remains positive, and multiple on-chain analysts say that Bitcoin has been behaving like a safe-haven asset…. Source link

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First Mover: Monero Leads Privacy-Coin Rally as Bitcoin Trips on Path to $12K

Bitcoin (BTC) was gaining for a fourth straight day, approaching the $12,000 price threshold the cryptocurrency failed to hold in August when it last rallied past that level.  “The market has started to move again,” the Norwegian cryptocurrency-analysis firm Arcane Research wrote Tuesday in a report.  In traditional markets, U.S. stock futures pointed to a higher open as investors bet U.S. lawmakers could reach agreement on a new stimulus bill. Market moves Privacy coins like monero ( Source link

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Bitcoin price nears final hurdle at $12K before bull market euphoria

The price of Bitcoin (BTC) had to hold the crucial support level between $11,100-11,300, and it did. After this support test, the price of BTC continued to surge upward on Oct. 20, reaching the crucial resistance area between $11,900-12,200. This upward move came along with weakness in the dollar, as the U.S. Dollar Currency Index (DXY) dropped substantially. A correlation that’s been effective throughout 2020 already.  However, other cryptocurrencies haven’t been following in Bitcoin’s… Source link

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Bitcoin trading dominance hits 2017-levels not seen since $20,000 BTC

The cryptocurrency market has suddenly shifted back to Bitcoin (BTC) after several months of a decentralized finance (DeFi) frenzy. While market cap dominance remains below 60%, earlier this month, the trading dominance of BTC has spiked to levels not seen since 2017 when the price hit an all-time high at $20,000. The trading dominance of Bitcoin against other major cryptocurrencies. Source: TheTie Due to the growing dominance of Bitcoin in terms of market volume, the alternative… Source link

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Cardano and Litecoin exploring cross-chain communication

Source: Phongphan – Shutterstock Cardano and Litecoin are investigating a new cooperation to establish cross-chain communication, smart contracts compatibility and increased scalability. This could be made possible by a so-called ‘velvet fork’, but further investigations must first be completed. As Crypto News Flash has already reported, Cardano’s founder, Charles Hoskinson, already launched the idea of discussing a closer partnership with Litecoin in July this year. There are several… Source link

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Is Bitcoin Building Support Above $11,000?

Bitcoin prices have remained above $11,000 since October 10, trading within a reasonably tight … [+] range. (Photo by Chesnot/Getty Images) Getty Images Bitcoin prices have been trading north of $11,000 for more than a week, seemingly gathering strength above that level. The digital currency has rallied this year, climbing more than 200% from under $3,900 in March to more than $11,800 today, CoinDesk data shows. While it has experienced some notable… Source link

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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 20th, 2020

Ethereum Ethereum rose by 0.21% on Monday. Following on from a 2.74% rally on Sunday, Ethereum ended the day at $379.36. It was a bearish start to the day. Ethereum fell to an early morning intraday low $372.89 before making a move. Steering clear of the first major support level at $371.03, Ethereum rallied to a late afternoon intraday high $384.69. Ethereum broke through the first major resistance level at $382.41 before a pullback to $376 levels and into the red. Finding late support, however,… Source link

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