XRP price rally stalls near key level that last time triggered a 65% crash

XRP‘s ongoing upside retracement risks exhaustion as its price tests a resistance level with a history of triggering a 65% price crash. XRP price rebounds 30%  XRP’s price gained nearly 30%, rising to $0.36 on June 24, four days after rebounding from $0.28, its lowest level since January 2021. The token’s retracement rally could extend to $0.41 next, according to its “cup-and-handle” pattern shown in the chart below. XRP/USD four-hour price chart featuring “cup and handle” pattern. Source: TradingView Interestingly, the indicator’s profit target is the same as XRP’s 50-day exponential…

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Traders target $1,400 Ethereum price after ETH drops closer to a critical support level

On June 8 the Ethereum network successfully underwent the merge to become proof-of-stake on its Ropsten testnet, but the news had little impact on ETH price.  With the Ropsten upgrade now looking more like a buy the rumor, sell the news type of event, most analysts have kept a short-term bearish outlook for Ether price. Let’s take a look. ETH/USDT 1-day chart. Source: TradingView Can Ether escape the head and shoulders pattern? Twitter analyst, “Cactus”pointed out a bearish head and shoulders pattern and questioned whether Ether price would be able to follow the sharp…

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Bitcoin’s move to $32.4K was a fakeout — Here’s the price level most BTC traders are waiting for

The end of the first week in June brought more pain to global financial markets as the tech-heavy Nasdaq composite closed the day on June 3 down 2.3%, while the S&P 500 shed 1.4% of its value.  The cryptocurrency market hasn’t faired any better and data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt to push Bitcoin (BTC) above $30,000 was hit with a wave of selling that dropped it to a daily low of $29,286. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what…

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Ethereum Forms Bullish Pattern But This Level Is Crucial

Ethereum extended decline and tested the $1,920 support against the US Dollar. ETH is rising and might revisit the key $2,085 resistance zone. Ethereum remained stable above the key $1,920 support zone. The price is now trading above $2,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,980 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further, but the $2,085 zone presents a major hurdle. Ethereum Price Recovers Above $2K Ethereum extended…

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Bitcoin price may bottom at $15.5K if it retests this lifetime historical support level

Bitcoin (BTC) could be in for a return to levels not seen since before its 2020 bull market if history repeats itself. That was according to new analysis released on May 24, which studied Bitcoin’s interaction with its 200-week moving average (WMA). Bitcoin floor target could be between $15,500 and $19,000 In a Twitter thread, popular trader and analyst Rekt Capital explained how BTC/USD could behave should it fall to retest the 200WMA. A lifeline throughout Bitcoin’s history, the 200WMA is a constantly rising line of last support that has…

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Avalanche nears key breakdown level that could sink AVAX price by another 65%

Avalanche (AVAX) gained 0.5% to reach over $31 on May 23 but AVAX price remains trapped inside a trading range that appears like a “bear pennant” structure. Avalanche could get buried technicals  Bear pennants are bearish continuation patterns, i.e., they resolve after the price breaks out of them to the downside and then—as a rule of technical analysis—falls by as much as the height of the previous downtrend, also called “flagpole.” AVAX is nearing a technical breakdown as its price moves toward the pennant’s apex, i.e., the point where its…

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2 key Ethereum price metrics suggest traders will struggle to hold the $2K support level

Ether (ETH) price has been trying to establish an ascending channel since the May 12 market-wide crash that sent its price to $1,790. Currently, the altcoin’s support stands at $2,000, but the high correlation to traditional markets is causing traders to be highly skeptical s cryptocurrency market recovery.  Ether/USD 4-hour price at Bitstamp. Source: TradingView To date, the Federal Reserve continues to dictate the markets’ performance and uncertainty has been the prevailing sentiment because the central banks of major economies are trying to tame inflation. Considering that the correlation between…

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Ripple (XRP) Struggles To Breach $0.45 Level, Down 16% In Last 7 Days

Ripple (XRP) has managed to make a quick rebound at the end of the week. That said — will Ripple go bullish at least for the short term? On the chart, XRP is seen to be cascading downward. The current support zone is set at $0.33 which has helped skew the decline in price. Now, in order to stay afloat, the bulls should manage to keep Ripple’s price point above this mark. When done successfully, Ripple (XRP) will tend to move above the static resistance line; specifically at $0.55, and…

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Bitcoin Eyes Fresh Increase But This Level Is The Key

Bitcoin is stable above the $29,600 support against the US Dollar. BTC must clear the $31,350 resistance to start a decent increase. Bitcoin is struggling to gain momentum above $30,500 and $30,600. The price is now trading near the $30,000 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $29,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a close above the $31,350 resistance. Bitcoin Price Is…

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Analysts say Ethereum price must hold this key level to avoid a capitulation-level move

The crypto market experienced another day of pain on May 12 as the fallout from the Terra’s LUNA and UST failure continues to ripple across the ecosystem. While the coverage for UST and its impact on Bitcoin (BTC) have been extensively covered over the past few days, the pullback has also had a significant impact on the price of Ether (ETH) as traders hastily exited the market. Data from Cointelegraph Markets Pro and TradingView shows that the past seven days of selling dropped Ether to $1,701, a price not seen…

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