Connect with us

Blockchain

Bitcoin, IOTA, OmiseGo Price Analysis: 03 June

Avatar

Published

on

The past 72-hours were the crypto-market in a microcosm for many. While Bitcoin, the world’s largest cryptocurrency, finally breached the $10,000-mark after much anticipation after the halving on the 11th of May, it fell soon after, dropping like a stone on the charts. While correction was expected, the sheer speed of it was not. However, while such a freefall would ordinarily have a blanket effect on alts, that wasn’t the case with IOTA and OmiseGo.

Bitcoin [BTC]

Source: BTC/USD on TradingView

While the cryptocurrency community rejoiced when Bitcoin, after several attempts, breached $10k, its respite was brief as the world’s largest cryptocurrency fell soon after. However, the aforementioned fall cannot discount the growth registered by the BTC market over the past week, with BTC having risen by 15.5% and going past the $10,200 mark, before noting a 6.7% fall to sit at its trading time price of $9,516.

The effects of such wild volatility were significant as both long and short positions worth upwards of $250M were liquidated on BitMEX.

Market indicators, however, at the time of writing, weren’t on the same side as while the Parabolic SAR’s dotted markers continued to be under the price candles and indicated bullishness, despite the aforementioned fall, the Chaikin Money Flow dipped significantly, suggesting falling capital inflows.

IOTA

Source: IOTA/USD on TradingView

IOTA, once a popular mainstay of the top 10 of the cryptocurrency rankings, hasn’t performed well over the past 10 months or so. While its 24-hour trading volume continues to be overshadowed by the likes of Zcash and Cosmos, both alts below it on the rankings, its price performance hasn’t been great either.

On the bright side, however, IOTA seemed to have regained its losses post-Black Thursday in March. In fact, IOTA was one of the few alts to not note a significant difference after Bitcoin fell so dramatically below the $10,000-mark again. At press time, IOTA was recording gains of almost 20% in a week, a steeper rate of growth than the one registered prior to the latest uptick in price.

While the Bollinger Bands were widening slightly in an indication of market volatility, the Relative Strength Index was very close to the overbought zone on the charts.

IOTA was in the news recently after the European Commission chose it for a mining supply chain project.

OMG Network [OMG]

Source: OMG/USD on TradingView

Ranked 36th on CoinMarketCap’s charts, the OMG network (formerly OmiseGo) has been in the news a lot lately after a series of major developments. Not only was OMG in the headlines after it surged at an astonishing rate following Coinbase announcing its listing (before falling soon after), but it surged yet again yesterday after it was announced that OMG Network was integrating with Tether. Following the latter, OMG grew by 14.5% to sit at a press time price of $1.72.

While the Awesome Oscillator pictured falling market momentum, the MACD line was below the signal line following a bearish crossover on the charts.

Your feedback is important to us!

Source: https://eng.ambcrypto.com/bitcoin-iota-omisego-price-analysis-03-june

Blockchain

DogeCoin (DOGE) Enters the Top-5 Crypto List With New All-Time High of $0.42

Despite a major market correction on Sunday, April 18, meme-coin DOGE has bounced back very strongly to enter the top-5 crypto-list. At press time, Dogecoin (DOGE) is trading 40% higher at its new all-time high of $0.42 and a market cap of $54.05 billion. Over the last week, Dogecoin has registered a solid rally and

The post DogeCoin (DOGE) Enters the Top-5 Crypto List With New All-Time High of $0.42 appeared first on Coingape.

Avatar

Published

on

advertisement

Phemex


Despite a major market correction on Sunday, April 18, meme-coin DOGE has bounced back very strongly to enter the top-5 crypto-list. At press time, Dogecoin (DOGE) is trading 40% higher at its new all-time high of $0.42 and a market cap of $54.05 billion.

Advertisement

Timecoin

Over the last week, Dogecoin has registered a solid rally and an unprecedented move in history. Just in a week’s time, the DOGE price has surged 6x or a massive 500% making it among the top-five cryptocurrencies of the world.

It is surprising to note that the meme-inspired cryptocurrency has bounced back as strongly from the market crash that other giants seemed to fail in front of it. even if we see the Sunday’s price nation for DOGE, the coin hasn’t been much shaken with the market crash. The coin hardly corrected 9% and bounced back from $0.31 levels.

More importantly, DOGE’s performance against BTC has been exemplary. Although Bitcoin (BTC) touched an all-time high above $64,000 last week, the DOGE/BTC pair is currently at an all-time high.

Courtesy: TradingView

The Frenzy Around Dogecoin (DOGE)

As the craze around Dogecoin (DOGE) unfolds, there have been multiple different things that have emerged recently with the Dogecoin rally. Last Friday, a major investors’ rush caused some technical difficulties on Robinhood as investors were unable to place orders.

Advertisement

Crypto vip telegram

There were also rumors that Robinhood had been restricting Dogecoin trading just as it did with the GameStop rally earlier this year. However, Robinhood clarified that this was not true, and it solved the technical difficulties in matter of a few hours.

On the other hand, Wall Street veteran and Galaxy Digital founder MikeNovogratz also compared the Dogecoin rally with the GameStop (NYSE: GME) event. Speaking about Dogecoin he said:

 It doesn’t really have a purpose. It’s gotta community and maybe they can keep value there. I would be very very very worried if one my friends was investing in Dogecoin at these prices”.

Interestingly, as it turns, Reddit group WallStreetBets behind the GameStop rally started a discussion thread on Dogecoin but later pulled out of it after media hype.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Student coin

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://coingape.com/dogecoin-doge-enters-the-top-5-crypto-list-with-new-all-time-high-of-0-42/

Continue Reading

Blockchain

NEO price analysis: What’s next after massive surge to $133?

Neo price was trading more than 1,500% up when it touched intraday highs of…

The post NEO price analysis: What’s next after massive surge to $133? appeared first on Coin Journal.

Avatar

Published

on

Neo price was trading more than 1,500% up when it touched intraday highs of $133

Neo (NEO) price has gained more than 40% in 24 hours to see it trade at its highest level since February 2018. In reaching intraday highs of $133, Neo’s value against the US dollar was a mouth-watering 1,534% up since mid-April 2020.

Selling has seen the coin pare some of its gains to trade around $115 as of writing. Despite this, Neo’s price remains nearly 90% up over the week and about 500% higher year to date.

What contributed to Neo’s price gains?

Neo has been in an uptrend for much of the past year thanks to strong demand as it moves towards a network upgrade. The blockchain network is also one of the few open-source projects that enjoys massive support in China; with the latest upside coming on the back of reports that China had given a nod to Bitcoin and other cryptocurrencies as investment tools.

Apart from Neo (NEO), another cryptocurrency that has gained from the news is VeChain (VET). The 13th ranked VET has soared 17% in the past 24 hours to trade above $0.25.

Neo price analysis

Neo price daily chart. Source: TradingView

NEO/USD has been in parabolic mode since breaching resistance at $68 on 14 April. After forming a cup and handle pattern, Neo broke upward and posted five consecutive green candles through to 18 April. The daily chart shows bulls managed to buy the sell-off, although bears still hover around as indicated by the red candlestick.

While the MACD is increasing in the bullish zone, the daily RSI has begun to flip downwards. Sustained profit booking might see sellers take advantage and seek to push prices lower. This scenario puts the immediate target at $100, while 25% pullback points to the 20-day EMA ($74).

However, as the overall picture remains bullish for NEO/USD, another leg up is likely. If this happens, it is possible bulls could target a retest of $133 before pushing for short-term goals of $150-$180.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinjournal.net/news/neo-price-analysis-whats-next-after-massive-surge-to-133/

Continue Reading

Blockchain

Bitcoin Recovers but Faces another Rejection at $57,000 Resistance Zone

BTC price recovers after plunging to $50,500 psychological price level. For the past 48 hours, Bitcoin has been rising as buyers attempt to breach the resistance at $57,000. The current uptrend is likely to face further resistance on the upside.

Avatar

Published

on

Apr 19, 2021 at 11:17 // News

Bitcoin price rebounded above the $56,000

BTC price recovers after plunging to $50,500 psychological price level. For the past 48 hours, Bitcoin has been rising as buyers attempt to breach the resistance at $57,000. The current uptrend is likely to face further resistance on the upside.

For instance, on April 7, BTC price rebounded above the $56,000 support as price rallied to breach the $58,000 resistance. Bitcoin will resume upside momentum if buyers reclaim the $58,000 support. BTC/USD will have price acceleration above the $58,000 support. 

Presently, Bitcoin is facing rejection at the $57,000 and $58,000 resistance zones. There is a tendency for price to fall again. In previous price action, Bitcoin bulls fail to break and sustain an upward move above the $58,000 support. This is in the first week of April before the recent breakdown. The resistance level has always been broken with strong bullish momentum. However, if buyers scale above the $58,000 resistance, they are likely to face stiff resistance between $61,825.84 and $65,000. Meanwhile, Bitcoin is trading at $56,987.10 at the time of writing. 

Bitcoin indicator reading  

Bitcoin bulls are struggling to sustain above the 50-day SMA. However, a break below the 50-day SMA will mean further downward movement of price. BTC price has fallen to level 43 of the Relative Strength Index period 14. It indicates that BTC price is in the bearish trend zone and capable of falling.

BTC_-_Coinidol_(14).png

Technical indicators:  

Major Resistance Levels – $65,000 and $70,000

Major Support Levels – $50,000 and $48,000

What is the next direction for BTC/USD?

BTC price is in a downward move but has reached bearish exhaustion. In the meantime, Bitcoin is facing another rejection at the $57,000 resistance zone. Meanwhile, on April 16 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. This retracement indicates that the market will fall to level 2.618 Fibonacci extension or the low of $53,697.30. From the price action, Bitcoin fell to $50,500 low and pulled back to the Fibonacci level.

BTC_-_Coinidol_2_chart_(12).png

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinidol.com/bitcoin-57000-resistance/

Continue Reading

Blockchain

Avatar

Published

on

Continue Reading
Blockchain9 mins ago

DogeCoin (DOGE) Enters the Top-5 Crypto List With New All-Time High of $0.42

Blockchain14 mins ago

NEO price analysis: What’s next after massive surge to $133?

Blockchain18 mins ago

Bitcoin Recovers but Faces another Rejection at $57,000 Resistance Zone

Blockchain27 mins ago

Blockchain27 mins ago

Blockchain27 mins ago

Blockchain27 mins ago

Blockchain27 mins ago

Blockchain33 mins ago

Blockchain33 mins ago

Blockchain33 mins ago

Blockchain33 mins ago

Blockchain33 mins ago

Blockchain46 mins ago

China to focus on local use for the digital Yuan

Forex54 mins ago

What is Forex IB? How to earn with Forex IB? The best IB companies. Details about the IB system

Blockchain54 mins ago

IOTA price analysis: MIOTA ready for fresh upside after weekend sell-off

Blockchain1 hour ago

China Asserts that Bitcoin is an ‘Investment Alternative’

Blockchain1 hour ago

Bitcoin Weekly Outlook: A $70,000 BTC Likely Despite Brutal Sell-Off

Esports2 hours ago

Virtus.pro mistaken for terrorist group after 2016 CS:GO prize money blunder

Gaming2 hours ago

AFL 2021 Grand Final Predictions

Blockchain2 hours ago

Bank of England And HM Treasury Announce Taskforce to Launch “UK CBDC”

Gaming2 hours ago

Best Game Streaming Services for 2021

Big Data2 hours ago

8 Tricks in Microsoft Project You Should Know

Blockchain3 hours ago

PancakeSwap DeFi Governance Manipulated by Single Whale Vote

Blockchain3 hours ago

Enjoy The Welcome Free Roll With BitStarz

Blockchain3 hours ago

Bitcoin Preis crasht nach Drop auf unter 60.000 USD

Blockchain3 hours ago

Explore New Fun Frontiers With Emu Casino’s These April Bonuses

Blockchain3 hours ago

Spin and Win Massive Prizes in the New 1xBit Tournament

Blockchain3 hours ago

Haz Casino €100.000 Spring Fling

Blockchain3 hours ago

Coinlife Review – Trading Crypto Confidently

Trending