Ripple (XRP) Price Technical Analysis (May 30): It’s a Bull!

Ripple (XRP) Price Technical Analysis (May 30): It’s a Bull!

Ripple (XRP)trade is currently trading at $0.4632. Looking at the chart, we can see that the price has broken the resistance of $0.4597. There Is formation of a bullish engulfing pattern which is obviously a bullish pattern, indicating an uptrend movement. Support is at $0.4597 with resistance a $0.4964. Dow Theory According to Dow Theory, the digital coin is currently appearing in the public participation phase; during this phase, negative sentiment starts to dissipate. This…

Read More

Bitcoin Price Technical Analysis (May 28): Indications of a Minor Correction in Sight

Bitcoin Price Technical Analysis (May 28): Indications of a Minor Correction in Sight

Bitcoin(BTC)trade is currently trading around $8,700. Looking at the chart, we see the formation of a shooting star pattern; it is a trend reversal pattern, indicating a small correction. The digital coin surpassed the minor resistance of $8,667, and now faces a major resistance at $9,405; support is at $8,286. It is suggested wait for the price to settle down a bit above the minor resistance before taking long positions. Dow Theory According to Dow…

Read More

Ethereum Price Technical Analysis (May 23): Correction to Support Level Is Expected

Ethereum Price Technical Analysis (May 23): Correction to Support Level Is Expected

Ethereum (ETH)trade is currently trading at around $237. The virtual coin was in an uptrend until it hit the resistance of $271.66; there is a formation of a hanging man pattern at the resistance level. It is a bearish pattern indicating correction. Support level is at $232.66. Looking at the chart, we see a formation of ascending triangle, which is a bullish signal indicating that the overall trend is yet bullish. Dow Theory According to…

Read More

Bitcoin Price Technical Analysis (May 20): Bullish Patterns Indicate Another Rally

Bitcoin Price Technical Analysis (May 20): Bullish Patterns Indicate Another Rally

Bitcoin(BTC)trade is currently trading at approximately $7,760. Looking at the chart, we see the formation of a piercing pattern. It is a bullish pattern. Currently the digital coin is at its support of $7,700 with resistance at $8,300. In addition, we see flag and cup pattern, both of which are bullish patterns. Therefore, the overall trend is positive. Long position can be taken, keeping support as a stoploss. Dow Theory According to Dow Theory price…

Read More

Bitcoin Cash Price Technical Analysis (May 14): On the Verge of Another Bull Rally

Bitcoin Cash Price Technical Analysis (May 14): On the Verge of Another Bull Rally

Bitcoin Cash (BCH) is currently trading at around $404. Looking at the chart, we can see that the price is in a strong uptrend movement after a minor correction. Also, we can see a formation of cup and handle pattern (similar to BTC’s recent movements); it is a very bullish pattern. The buying point was at around $325. Currently the price is approaching its resistance at $408 with support at $330. Dow Theory According to…

Read More

Bitcoin Price Technical Analysis (May 13): Will BTC Break the $7,400 Resistance Level?

Bitcoin Price Technical Analysis (May 13): Will BTC Break the $7,400 Resistance Level?

Bitcoin(BTC)trade is currently trading at around $7,020. Looking at the chart, we can see that the largest virtual coin is in a continuous uptrend and broken the resistance at $6,150. Looking at 1 year data we see that the price has again hit the resistance but this time failed to break out. There is formation of shooting star pattern at the resistance. Current resistance is at approximately $7,400 and support at $6,753. Dow Theory According…

Read More

Ethereum (ETH) Price Technical Analysis (May 7): Breakout of the $181 Resistance

Ethereum (ETH) Price Technical Analysis (May 7): Breakout of the $181 Resistance

Ethereum (ETH)trade is currently trading at around $176. The digital coin is in an uptrend and recently we saw it breaking the resistance level of $181, though it is currently trading below the resistance. Looking at the chart, we can see that the next resistance is at $196, while the earlier support was at $166. Dow Theory According to Dow Theory, ETH is currently situated in the public participation phase; during this phase, negative sentiment…

Read More

Bitcoin Price Technical Analysis (May 1): Breaking Resistance of $5,475, Lingering at Support Level

Bitcoin Price Technical Analysis (May 1): Breaking Resistance of $5,475, Lingering at Support Level

Bitcoin(BTC)trade is currently trading at around $5,400. A bullish engulfing pattern was formed after the digital coin rallied upward and broke the resistance of $5,475. Next resistance is at around $5,625 and support is at around $5,400, the current price level. We also see a formation of spinning top pattern which shows indecision, so we might see some correction. It is suggested not to take any long position and wait for the price to settle…

Read More

Bitcoin Price Technical Analysis (April 22): A False Breakout?

Bitcoin Price Technical Analysis (April 22): A False Breakout?

Bitcoin(BTC)trade is currently trading at around $5,300. A breakout was seen above the resistance of $5,315, but it appears to be a false breakout and was confirmed by the formation of hanging man pattern. Hanging Man pattern is bearish pattern, which indicates trend reversal. After the formation of the pattern, we see price moving downwards. The support is around $5,149 and resistance is at $5,315. The range between support and resistance can be used for…

Read More

Ripple Price Technical Analysis (April 15): No Indicators of an Upwards Movement

Ripple Price Technical Analysis (April 15): No Indicators of an Upwards Movement

The virtual coin Ripple (XRP)trade is currently trading at $0.328605. Looking at the chart below, we can see that the price is moving in a sideways trend after a downfall; this can be used for swing trading. We see the formation of bearish engulfing pattern which is a bearish pattern indicating further downfall. Current resistance is at $0.3228 and support is at $3.222. These levels can be used for swing trading. Dow Theory According to…

Read More
1 2 3 4 5 6