Materials by tag Cryptocurrency

Crypto currencies are in a bear market as coins face selling pressure at the bottom of the chart. The other coins are in a period of consolidation to rebound. The markets are characterized by small body candlesticks like the Doji and Spinning tops which described the indecision between buyers and sellers. The coins may face breakdown or breakout as it consolidates at the oversold region.

Ripple (XRP) is making an impressive move but may face resistance at $0.23.

Ethereum is out of the lower levels of price as it breaks the resistance at $150. Ethereum is expected to trade within the range-bound zones.

It has been more than a year now, since a grand total of around 11.6 million in Bitcoin cryptocurrency has been moved from one wallet to another, even when its price skyrocketed, hitting and surpassing the $13k level at one particular point.

Despite its false breakdown, Bitcoin Cash had been relatively stable since September. The coin had been exceptional in its fluctuation within the price range of $200 and $240. Each time there is a break down the coin bounces back to its original price range.

Litecoin crashed to $43 after the last bearish impulse. Previously, the coin had been trading above $50 for over a month before the market went up. This sudden price jump hit resistance at $65. After a pullback, the bulls retested the resistance to form a bearish double top pattern. This pattern formation led to a further drop of Litecoin to a low of $43.

Whenever the venture capitalists or the public asks how it is possible today for a firm to gather capital for growth and development, the first thing that comes into consideration is an initial public offering (IPO), which is the process that it is popularly regarded as the opening of social capital to the public.

The Persistent tussle between the bulls and bears over the support at $0.22 has given the bears an advantage over the bulls. Buyers could not sustain hold above the support because of the absence of buyers at the previous highs. Yesterday, XRP dropped suddenly to $0.21, but a pullback was not sufficient to keep the coin above the $ 0.22.

Regrettably, the pair shows no signs of recovery below the price at $150 and $160. Yesterday, the coin made a pullback and retested the price at $150 resulting in further depreciation. A retest is a confirmation that the bearish trend is ongoing. The bears have capitalized on this to sink the coin to the previous low.