Over the past few days, we have seen a lot of news and headlines on our DC Forecasts crypto news site, mainly geared towards blockchain, regulation and the relatively stable prices of Bitcoin and the other altcoins.
Bitcoin (BTC) Is ‘Stuck’ Between $3,850 and $3,900
Even though the market lost a few billions and Bitcoin did not manage to reach the $4,000 mark, the market showed stability amidst the bearish trend. Bitcoin traded in a tight range below the $3,900 resistance level – in fact BTC appears ‘stuck’ between $3,850 and $3,900 without any way out.
Once there is an upside break above $3,900, buyers will likely gain control over BTC. The next key resistance is predicted near the $3,980 and $4,000 zone, where sellers might put up a strong fight.
Ethereum (ETH) Price Action: Stable At $130
Ethereum, on the other hand, is slowly moving down after it failed to break the $135 resistance level. ETH managed to decline below the $132 number in the bearish run and could soon test its $130 support level.
The price of ETH could soon bounce back and even make an attempt to surpass the $134 and $135 resistance levels. As Ethereum approaches the 0 support, its next movement could play an important role in the near term.
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Ripple (XRP), Bitcoin Cash (BCH) And EOS (EOS)
Ripple was surging above the $0.32 resistance. However, it has been failing to hold the gains and retesting the However, it has been failing to hold the gains and retesting the $0..
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31 support area. XRP/USD has also failed to hold the gains and declined sharply, dismissing the $0.32 level which is why it could take time for the altcoin to prepare for a fresh upward move.
Bitcoin Cash (BCH) is slowly moving higher as we speak – and it recently broke the $130 resistance level. The BCH/USD pair is showing positive signs and it seems like buyers could now push the price above the $132 level.
EOS (EOS) is the last one of the altcoins that is consolidating the price above the $3.50 support level. However, in order for EOS to start an upward move, the price must clear the $3.60 and $3.70 resistance levels. On the downside, the $3.50 support is incredibly important and if EOS goes below it, there could be heavy losses.
The other altcoins that moved up by more than 7% included the names of ETN, WAX, REPO, ETN, BCD, INB, PIVX, XLM and KCS – where ETN rallied more than 20% and WAX is close to 18%.
Overall, the market is near an infection point and is likely preparing for the next key break.
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