After months of steady growth, sales have finally hit the cryptocurrency market. The ongoing uptrend meant there was a risk of overheating and we can clearly see this in Ethereum, which is now paying the highest payout among the top 3 club members.
Dominance charts a few days ago showed that Bitcoin has a good chance of outperforming Ether, and that’s happening right now.
The Ethereum Dominance Chart shows the excessive deviation of the price from the 200-day moving average.
This simple moving average of the last 200 days is a benchmark in classical technical analysis. The SMA200 acts as an attractor for the price and has to match sooner or later. Well, in the case of the Ether Dominance Chart, the 200-day moving average is 12.34% below the relative lows.
Let’s see where everyone is after the falls of the past few hours. Below we see the percentage difference to the moving average. A positive rate indicates that the impact of the 200 moving average on the asset is positive:
ETH / BTC daily chart
The ETH / BTC crypto pair is currently trading at 0.338 after falling to a relative low of 0.03117 last Saturday. The 200-day moving average is moving towards the price level of 0.0265. The SMA200 maintains its bullish profile so it can quickly approach the price.
Above the current price, the first resistance level is at 0.0347, the second is at 0.0372 and the third is at 0.040. Below the current price, the first level of support is at 0.0328, the second at 0.0315 and the third at 0.0305.
The MACD on the daily chart is showing a strong acceleration downwards. The slope of the averages that make up this indicator and the distance between them have a significant downside potential.
The DMI on the daily chart is showing declines with the pair being controlled. The short side did not cross the ADX line, a technical event that would accelerate the pair’s decline.
Bitcoin Daily Chart (BTC / USD)
Bitcoin is currently trading at a price level of $ 10,078 and is still trading at 7.60% of its 200-day moving average. The SMA200 has a flat profile. So if you need to find the price and the arithmetic mean, the run is the price.
Above the current price, the first resistance level is at $ 10,450, the second is at $ 11,400, and the third is at $ 11,900. Below the current price, the first support level is at 9500 USD, the second at 9100 USD and the third at 8255 USD.
The MACD on the daily chart is entering the negative territory of the indicator and showing significant potential for further downward movement.
The DMI on the daily chart shows bears seeking support on the ADX line. The most likely trend is for sellers to regain strength from this level. The cops do not react and continue their descent.
Ethereum daily chart (ETH / USD)
ETH / USD is currently trading at USD 342 and is pulling back after yesterday’s significant rally. Above the current price, the first resistance level is at $ 360, the second is at $ 387, and the third is at $ 410. Below the current price, the first support level is at $ 315, the second is at $ 288, and the third is at $ 270.
The MACD on the daily chart is at the crossroads of the bearish trend indicator. The moving averages profile is very aggressive, which could lead to a strong rally in the short term.
The DMI on the daily chart shows the bears looking for confirmation on the ADX line. The most common pattern of behavior suggests that this is where bears can increase their strength.
XRP Daily Chart (ripple)
The XRP / USD pair is currently trading at a price of $ 0.2365 and is losing all gains made yesterday. Ripple’s XRP cryptocurrency price is very close to the SMA200 and other media, so there shouldn’t be a problem keeping values similar to current ones.
Above the current price, the first resistance level is at $ 0.2545, the second is at $ 0.263, and the third is at $ 0.295. Below the current price, the first support level is at $ 0.235, the second is at $ 0.225 and the third is at $ 0.215.
The MACD on the daily chart is moving completely bearish, showing a profile with significant bearish potential.
The daily chart’s DMI shows that the bears are seeking support on the ADX line, which offers the possibility of an uptrend that would add strength on the short side.
Article by Tomas Salles, FXStreet, see »Article in English
Disclaimer: The information and opinions contained in this report are for general information only and do not constitute an offer or an invitation to buy or sell currency contracts or CFDs. Although the information contained in this document comes from sources believed to be reliable, the The author does not guarantee its accuracy or completeness and accepts no responsibility for direct, indirect or consequential damages that arise from the fact that someone relies on such information.
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Bitcoin going down?
After reaching the symbolic threshold of $ 40,000 on January 7, 2021, the price of Bitcoin fell to $ 30,000 on Monday, January 11, 2021, a decrease of 25%. … note that the value of Bitcoin has increased 21% since January 1st, 2020.
What is the heart of Bitcoin?
|Lowest price||€ 2,928.67|
|Highest price||€ 12,223.31|
Which crypto should be invested in 2021?
|Surname, surname||Market capitalization||Number in circulation|
|Ethereum (ETH)||+ 134 billion euros||114 M.|
|Ripple (XRP)||+ 10.3 billion euros||45.4 billion|
|Bitcoin Cash (BCH)||over EUR 6.9 billion||18.6 M.|
|Tether (USDT)||more than 50.5 billion euros||24 billion|
When will Bitcoin go up?
Another element that may have weighed on the balance sheet: Bitcoin’s « halving » (in jargon, this means that the mining premium will be cut in half). This event happened in 2009, 2012, 2016 and 2020. The next, probably in 2024.
What are the cryptocurrencies of the future?
Cryptocurrency: 7 virtual currencies will follow in 2021
- Bitcoin: the benchmark cryptocurrency. …
- Ethereum: the most widely used bitcoin and crypto challenger. …
- Binance Coin: The crypto that invites you to join the big leagues. …
- Ripple: much more than a crypto, a passport for decentralized finance.
What is the future of bitcoin?
JP Morgan believes the price of Bitcoin could hit $ 146,000 in the long run. Bitcoin ended the year with a record 300% increase over 2020.
What are the different cryptocurrencies?
Bitcoin against other major cryptocurrencies
- Bitcoin (BTC) Original cryptocurrency with currently the largest market capitalization. …
- Bitcoin Cash (BCH) …
- Ripple (XRP) …
- Stellar (XLM) …
- Ether (ETH) …
- Litecoin (LTC) …
- EOS (EOS) …
- NEO (NEO)
What are cryptocurrencies?
Before you get down to business, here is a list of the top 20 cryptocurrencies you should know: Bitcoin, Etherum, Ripple, Bitcoin Cash, Cardano, Litecoin, NEM, NEO, Stellar, IOTA, EOS, Dash, TRON, Monero , Bitcoin Gold, Etherum Classic, ICON, Qtum, Lisk and RaidBlocks.
Which crypto should you buy in 2020?
In our opinion, the most promising cryptocurrencies for 2020 and in the coming years are the Tezos (XTZ), the Stellar Lumens (XLM) and the ChainLink (LINK), whose prices have risen sharply in recent months.
Which crypto should be invested?
|Cryptocurrency||Price ($)||Variation over the year|
|Bitcoin (BTC)||7.539||+ 96.16%|
|Ethereum (ETH)||132.9||– 5.62%|
|Ripple (XRP)||0.19||– 46.39%|
|Litecoin (LTC)||42.3||+ 32.29%|
What are the best cryptocurrencies?
What are the best cryptocurrencies of the year?
- Bitcoin – cryptocurrency No. 1. …
- Ethereum – cryptocurrency No. 2. …
- Ripple – Cryptocurrency No. 3. …
- Bitcoin Cash – cryptocurrency No. 4. …
- Litecoin – cryptocurrency No. 5. …
- Cardano – cryptocurrency no.6 …
- NEO – cryptocurrency no.7 …
- 1- Go to the Alvexo online trading platform:
How to invest in Bitcoin in 2020
How do I invest in Bitcoin in 5 steps?
- Register with Bitcoin Trader using this link.
- Create an account on the broker platform.
- Fund your account.
- Select Bitcoin and click « Buy ».
- Open a Bitcoin trading position.
Why is the price of BTC falling?
According to those in the know, the depreciation of Bitcoin is associated with a more expensive dollar, which makes other investments less attractive. The gold price also fell on Monday due to the rising dollar. … Bitcoin’s value had doubled in less than a month.
Why does the value of a cryptocurrency increase?
What also defines the value of a virtual currency is the importance of its network and the number of people who use it worldwide. The more users a cryptocurrency has, the more its value increases, which means that the price of the token increases.
Why is BTC rising?
According to an expert consulted by Médias24, this phenomenon is due to an explosive demand after PayPal announced in October the integration of Bitcoin into its payment services and the growing interest of the shareholder. Professional investors for this market.