Category: Cryptocurrency News

Tron price is gaining pace above the $0.1150 resistance against the US Dollar. TRX is outperforming Bitcoin and could rise further above $0.1180. Tron is moving higher above the $0.1150 resistance level against the US dollar. The price is trading above $0.1155 and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.1160 on the hourly chart of the TRX/USD pair (data source from Kraken). The pair could continue to climb higher toward $0.1200 or even $0.1220. Tron Price Regains Strength Recently, Bitcoin and Ethereum saw a fresh decline below $68,500 and $3,750 respectively. However, Tron price remained stable above the $0.1120 support and even climbed higher. There was a decent move above the $0.1150 resistance zone. TRX price cleared many hurdles and gained over 3%. There was a move above the $0.1165 level. A high is formed at $0.1170 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.1102 swing low to the $0.1170 high. Tron price is now trading above $0.1160 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.1160 on the hourly chart of the TRX/USD pair. On the upside, an initial resistance is near the $0.1170 level. The first major resistance is near $0.1180, above which the price could accelerate higher. The next resistance is near $0.1200. A close above the $0.1200 resistance might send TRX further higher toward $0.1225. The next major resistance is near the $0.1320 level, above which the bulls are likely to aim for a larger increase toward $0.150. Are Dips Supported in TRX? If TRX price fails to clear the $0.1200 resistance, it could start a downside correction. Initial support on the downside is near the $0.1160 zone. The first major support is near the $0.1150 level or the 100 simple moving average (4 hours), below which it could test $0.1140. Any more losses might send Tron toward the $0.1136 support in the coming sessions. Technical Indicators Hourly MACD – The MACD for TRX/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level. Major Support Levels – $0.1160, $0.1150, and $0.1136. Major Resistance Levels – $0.1180, $0.1200, and $0.1220.

XRP price declined heavily from the $0.5250 resistance zone. It tested the $0.4540 support zone and is now attempting to recover above $0.4880. XRP is correcting losses above the $0.4820 and $0.4840 levels. The price is now trading below $0.5050 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $0.4950 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could dip again if it stays below the $0.5050 resistance zone. XRP Price Takes Hit XRP price started a major decline like Ethereum and declined below the $0.50 support. The price even spiked below the $0.4650 support zone. A low was formed at $0.4533 and the price is now correcting losses. There was a move above the $0.470 and $0.4750 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.5271 swing high to the $0.4533 low. There is also a connecting bullish trend line forming with support at $0.4950 on the hourly chart of the XRP/USD pair. The pair is slowly moving above the 61.8% Fib retracement level of the downward move from the $0.5271 swing high to the $0.4533 low. However, it is still trading below $0.5050 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.500 level. The first key resistance is near $0.5050. The next major resistance is near the $0.5120 level. A close above the $0.5120 resistance zone could send the price higher. The next key resistance is near $0.5250. If there is a close above the $0.5250 resistance level, there could be a steady increase toward the $0.5320 resistance. Any more gains might send the price toward the $0.550 resistance. Another Drop? If XRP fails to clear the $0.5050 resistance zone, it could start another decline. Initial support on the downside is near the $0.4950 level and the trend line. The next major support is at $0.4900. If there is a downside break and a close below the $0.490 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.4740 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.4950 and $0.4900. Major Resistance Levels – $0.500 and $0.5050.

submitted by /u/WowHow06 [link] [comments]

Ethereum price declined heavily and tested the $3,580 support zone. ETH is now recovering and faces many hurdles near the $3,740 zone. Ethereum started a recovery wave and climbed above the $3,660 resistance. The price is trading below $3,750 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,740 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh upward move unless there is a close below the $3,640 support. Ethereum Price Faces Resistance Ethereum price extended its decline below the $3,660 support zone. ETH even declined below $3,600 before the bulls appeared. A low was formed near $3,574 and the price is now correcting losses, like Bitcoin. There was a move above the $3,650 and $3,660 levels. The price climbed above the 50% Fib retracement level of the downward move from the $3,838 swing high to the $3,574 low. However, there was no close above the $3,700 level. Ethereum is now trading below $3,740 and the 100-hourly Simple Moving Average. If there is another increase, ETH might face resistance near the $3,700 level. The first major resistance is near the $3,740 level. There is also a key bearish trend line forming with resistance near $3,740 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the downward move from the $3,838 swing high to the $3,574 low. An upside break above the $3,740 resistance might send the price higher. The next key resistance sits at $3,800, above which the price might gain traction and rise toward the $3,840 level. If the bulls push Ether above the $3,840 level, the price might rise and test the $4,000 resistance. Any more gains could send Ether toward the $4,080 resistance zone. Another Decline In ETH? If Ethereum fails to clear the $3,740 resistance, it could continue to move down. Initial support on the downside is near $3,660. The next major support is near the $3,640 zone. The main support sits at $3,580. A clear move below the $3,580 support might push the price toward $3,500. Any more losses might send the price toward the $3,450 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,640 Major Resistance Level – $3,740

Base has topped Ethereum layer 2 leaderboards by transaction count and has been the most profitable Ethereum scaler for three consecutive months.

While many are familiar with inflation, which indicates a decline in currency purchasing power alongside a general rise in the cost of goods and services in an economy, there is a common misconception that inflation is natural. In reality, it is largely driven by an increased money supply, manipulation of interest rates, and quantitative easing […]

Bitcoin price stayed above the $68,500 support zone. BTC is now consolidating and might aim for a fresh increase above the $70,150 resistance. Bitcoin found support near $68,500 and started a decent recovery wave. The price is trading below $70,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $69,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline again if there is no move above the $70,150 resistance. Bitcoin Price Faces Resistance Bitcoin price extended its decline below the $70,000 support zone. BTC even declined below the $69,500 level before the bulls appeared near $68,500. A low was formed at $68,409 and the price is now attempting a recovery wave. There was a move above the $69,250 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $71,900 swing high to the $68,409 low. Bitcoin is now trading below $70,000 and the 100 hourly Simple moving average. However, there is a key bullish trend line forming with support at $69,500 on the hourly chart of the BTC/USD pair. On the upside, the price is facing resistance near the $70,000 level. The first major resistance could be $70,150 and the 50% Fib retracement level of the downward move from the $71,900 swing high to the $68,409 low. The next key resistance could be $70,550. A clear move above the $70,550 resistance might send the price higher. In the stated case, the price could rise and test the $71,200 resistance. Any more gains might send BTC toward the $72,000 resistance. Another Decline In BTC? If Bitcoin fails to climb above the $70,150 resistance zone, it could start another decline. Immediate support on the downside is near the $69,500 level and the trend line. The first major support is $69,150. The next support is now forming near $68,500. Any more losses might send the price toward the $67,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $69,500, followed by $68,500. Major Resistance Levels – $70,150, and $70,500.