Category: Cryptocurrency News

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Hong Kong police have issued a warning concerning a recent Binance phishing scam targeting Hong Kong users of the platform.

Bitcoin’s months of sideways action have been uncannily similar to the previous two BTC market cycles, which saw a pivot in November leading up to a halving event.

Before it was taken down, Ordswap users said the compromised website directed users to a phishing link.

XRP price started a fresh decline from the $0.550 resistance against the US Dollar. It could accelerate lower and revisit the $0.45 support. Ripple’s token price is declining from the 0.550 resistance against the US dollar. The price is now trading above $0.500 and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.5065 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might continue to move down if it breaks the $0.488 support zone. XRP Price Takes Hit Recently, XRP made another attempt to clear the $0.550 resistance. However, the bulls failed to clear the $0.550 barrier. The price traded as high as $0.5510 and started a fresh decline, like Bitcoin and Ethereum. There was a steady decline below the $0.532 and $0.525 levels. The price even declined below the $0.50 level and the 100 simple moving average (4 hours). Finally, it retested the $0.488 support zone. A low is formed near $0.4875 and the price is now consolidating losses. XRP is now trading above $0.500 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.5065 on the 4-hour chart of the XRP/USD pair. The trend line is near the 23.6% Fib retracement level of the recent decline from the $0.5510 swing high to the $0.4875 low. On the upside, immediate resistance is near the $0.505 level and the trend line. A close above the $0.505 level could send the price toward the $0.525 resistance or the 61.8% Fib retracement level of the recent decline from the $0.5510 swing high to the $0.4875 low. Source: XRPUSD on TradingView.com A successful break above the $0.525 resistance level might start a strong increase toward the $0.550 resistance. Any more gains might send XRP toward the $0.580 resistance. More Losses? If XRP fails to clear the $0.505 resistance zone, it could continue to move down. Initial support on the downside is near the $0.488 zone. The next major support is at $0.450. If there is a downside break and a close below the $0.450 level, XRP price might turn red. In the stated case, the price could retest the $0.420 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.488, $0.465, and $0.450. Major Resistance Levels – $0.505, $0.525, and $0.550.

Ethereum price struggled to clear $1,660 and reacted to the downside against the US dollar. ETH remains at risk of more losses if it breaks the $1,550 support. Ethereum resumed its decline and retested the $1,550 support. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,610 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate lower if there is a close below the $1,550 support zone. Ethereum Price Dives Again Ethereum failed to settle above the $1,665 resistance zone. ETH started a fresh decline from the $1,665 resistance zone and dived below the $1,650 level. The bears pushed the price below the $1,600 level and the 100-hourly Simple Moving Average. Ether retested the $1,550 support. A low was formed near $1,549 and the price is now attempting a recovery wave. There was a move above the 23.6% Fib retracement level of the recent decline from the $1,664 swing high to the $1,549 low. Ethereum is now trading below $1,600 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,610 on the hourly chart of ETH/USD. On the upside, the price might face resistance near the $1,600 level. The first major resistance is near the trend line and $1,610. It is close to the 50% Fib retracement level of the recent decline from the $1,664 swing high to the $1,549 low. Source: ETHUSD on TradingView.com The next major resistance is $1,620 or the 100-hourly Simple Moving Average, above which the price could rise toward the $1,665 resistance zone. A close above the $1,665 resistance might send the price toward the key resistance at $1,750. The next key resistance might be $1,820. Any more gains might open the doors for a move toward $1,880. Downside Break in ETH? If Ethereum fails to clear the $1,600 resistance, it could continue to move down. Initial support on the downside is near the $1,565 level. The next key support is $1,550. A downside break below the $1,550 support might start another strong decline. In the stated case, the price could revisit the $1,465 level. Any more losses may perhaps send Ether toward the $1,420 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,550 Major Resistance Level – $1,620

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Bitcoin price failed to clear the $28,500 resistance and corrected lower. BTC retested the $27,250 support and is currently attempting a fresh increase. Bitcoin is holding gains and still consolidating above the $27,250 zone. The price is trading below $27,800 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $27,780 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could struggle to clear the $27,800 and $28,500 resistance levels in the near term. Bitcoin Price Faces Key Hurdles Bitcoin price started a decent increase above the $27,800 resistance. However, BTC failed to remain in a positive zone and revisit the $28,500 resistance zone. There was a steady decline below the $28,000 level. The price declined below the $27,500 level, but the bulls were active above the $27,250 support zone. A low was formed near $27,275 and the price is now rising. There was a move above the $27,500 level. Bitcoin climbed above the 23.6% Fib retracement level of the recent decline from the $28,284 high to the $27,275 high. It is now trading below $27,800 and the 100 hourly Simple moving average. Besides, there is a key bearish trend line forming with resistance near $27,780 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $27,780 level and the trend line. It is close to the 50% Fib retracement level of the recent decline from the $28,284 high to the $27,275 high. Source: BTCUSD on TradingView.com The next key resistance could be near the $28,100 level. The first major resistance is $28,250, above which Bitcoin might test $28,500. A close above the $28,500 resistance could start another increase. In the stated case, the price could rise toward the $29,200 resistance. Any more gains might call for a move toward the $30,000 level. Another Drop In BTC? If Bitcoin fails to continue higher above the $27,780 resistance, there could be a fresh decline. Immediate support on the downside is near the $27,500 level. The next major support is near the $27,250 level. A downside break and close below the $27,250 support might spark strong bearish moves. The next support sits at $26,200. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $27,500, followed by $27,250. Major Resistance Levels – $27,780, $28,250, and $28,500.