The Latest reports about cryptocurrencies, blockchain and FinTech from Coinspeaker’s staff writers and our partners.
The bulls have to double their momentum before Bitcoin price can breakout at $4,237 resistance level which will expose the resistance level of $4,692.
The breakout through the lower trend line is possible in case the support level of $0.30 does not hold and also the bears increase their momentum. Should the bulls defend $0.30 demand level, the XRP price will bounce and break out at the upper trend line.
Further increase in bearish pressure will make the demand zone of $114 as the target for Ethereum price. The loss of bearish momentum will make the coin to range towards $149 price level.
Only radical fundamental events can make Bitcoin price to break out of the consolidation phase. Increase in the Bears’ momentum will make the coin to rally towards $3,241 in case the Bears’ momentum breaks down the support level of $3,679.
After a long time waiting, Coinbase finally decided to add support for XRP on Coinbase Pro. This decision tackled the euphoria of many, sparking an increase in trading volume and of course a peak in the price of the Ripple’s token.
The bulls need to increase its momentum in order to break up the supply zone of $0.047 and this will expose Cardano to the supply zone of $0.055. Likewise, high pressure is required to break down the demand zone of $0.035 by the Bears.
The latest CCID rankings suggest that the tokens with blockchain networks that let developers create smart contracts and run dApps are better than several other major cryptos in terms of applicability. EOS, Ethereum and Tron ranked highest.
The bullish trend continues as long as the Bulls maintain or increase their pressure and Bitcoin SV may have its resistance at $85 price level. In case the support level does not hold, BSV will find its low at $54 price level.
In case the bears increase its momentum the $0.07 demand level will be the target for Stellar price. Should the bears lose their pressure, the XLM price may range towards $0.09 – $0.12 price levels.
In case the Demand level of $0.31 holds and the Bulls gain enough pressure, the XRP price will range towards $0.34 – $0.38. On the other side, the penetration of the $0.31 price level downside will make the XRP find its support at $0.28 demand level.
Should the bears increase its pressure, support zone of $134 will be broken and the coin may find its low at $114 – $101, but in case the demand zone of $134 holds, there will be a bullish rally of Ethereum price towards the previous high of $161.
In case the bulls were unable to defend the support level of $3,679, then, Bitcoin price will find its low at $3,241 support level. In case the support level of $3,679 holds and BTC bounces, the bullish momentum may raise the BTC price above the $4,237.
The breakup of the supply zone of $0.047 by the bulls’ momentum will expose Cardano to the supply zone of $0.055 which may be its target. On the other hand, In case the bears defend the $0.047 price level, the coin will find its low at $0.035 – $0.028.
Further increase in the bulls’ momentum will break the confluence at $0.09 and the crypto will target $0.12 supply level. In case the confluence at $0.09 level holds, then, Stellar may range back to the previous low.
The strong bullish momentum is required to break the confluence that is preventing the Bitcoin SV from a bullish rally in the market. In case there is a bullish breakout at the $68 resistance level the coin may have its target at $85 price level.