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Bitcoin Price & Ethereum Price Initiates A Bearish Weekly Trade, What’s Next?

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Bitcoin, being the most dominant cryptocurrency appears to have adopted a linear trend. As every time it attempts to break the barriers above $38,000, a massive pullback drags the BTC price to current levels.

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On the other hand, Etheruem also appears to have followed the top crypto as the price slides down below $2500. No doubt the decline was not so steep, yet the bearish trend appears to prevail the ETH price.

One of the trusted on-chain analysis platforms Santiment reported a loss of address activity in both Bitcoin and Ethereum. The address activity on both BTC and ETH are hitting the yearly low, and hence giving a speculation for a buy at dip opportunity.

And as the top cryptos tend to follow a downtrend, the other altcoins may also be impacted. However, the downtrend is expected to continue further until both assets do not test their respective support zones. 

Also Read: MATIC Price & ADA Price Tanks Hard, Who Will Make It To $2 First?

Conversely, while many believe the bears have capitulated the bull run, the possibility of a bear market within the bull run cannot be ruled out. As said by a popular analyst, Lark Davis, like the 2018 bear market where-in a small bull run were also a part. Currently, a bearish trend is outspread above the bull rally. 

Therefore, the analyst also hinted on a possible bull run which may resume once the bears come under control. The bitcoin price rally may flip the bearish divergence soon. Or else if continued with a downtrend, it may test the support levels at $30000. Similar to the Ethereum price rally where-in the zones at $1900 appear to be imminent if the dip continues.

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Source: https://coinpedia.org/price-analysis/bitcoin-ethereum-price-intiates-bearish-weekly-trade/

Coinpedia

Right Time to Buy MATIC and Ethereum ? Here’s the ROI you can expect if you invest now!

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The entire crypto space is on a heavy discount as most of the assets is experiencing a price slash. However, the extreme downtrend opens the doors for a healthy investment as the market tends to rebound soon. Among the other promising assets, Ethereum and Polygon (MATIC) may be considered for investment.

Suppose you invest in Ethereum and MATIC now,how much will you earn in return as the bull run resumes? And When? Let’s find out!

Ethereum Price Poised To Hit $3000 Soon

The ETH price, currently doing its best to reclaim its support levels at $2100 and well-positioned to take the next leg up soon. The price since the beginning of the bull run at the start of 2021, maintains the same trend line. Despite a couple of pullbacks, the price could not break the trend line. No doubt the price suffered a fake breakout, yet settled within the range soon.

ethprice

The price currently is testing the trend line and soon could rebound with a massive leg up that may escort the price towards the initial levels around $2500.However the actual target still remains above $3000 which may be fast approaching, may be by mid-august. Therefore one can expect good profits. 

Also Read: It’s Time To Buy Ethereum, Says Analyst, Will ETH Price Jump To $3K?

MATIC Price May Consolidate More

Polygon or MATIC price is trending within an ascending triangle and yet to reach the tip. And hence a little more consolidation could be on the cards, probably for a couple of days. Considering the previous price movements, the price may either break the upper resistance of the triangle to hit $2 or undergo a slight pullback and propel higher.

maticpc

Moreover, due to the massive gas war on the Ethereum platform, Polygon Chain is witnessing a massive surge in TVL. Since its inception, the TVL has surged more than 5000% recording nearly $6 billion in figures. Therefore, the swelling network, collaborations and positive market sentiments may result in the resumption of the bull run.

Collectively, if an individual invests $100 in both Ethereum and Matic may incur profits of more than 20% to 30% in the coming months. Therefore, considering the market predictions, and deep self-research may build a better portfolio.

Also Read: Polygon(MATIC) Price To Jump Long From Here, Will It Smash $5?

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Source: https://coinpedia.org/price-analysis/invest-in-ethereum-and-matic-to-earn-profit/

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Bullish Predictions For XRP Price Could Reach Close To $6 By Mid-August!

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Ripple’s native token XRP despite being trending in a very narrow region for the past month, is foreseen to break the upper barriers soon. The price may gain some additional momentum to rally towards teh set target in the coming days. 

XRP price is one of the most talked-about topics in the crypto space, which is believed to be much undervalued. However, the upcoming price movements may aid the XRP bull run which may propel the price above $5 soon. A popular analyst and XRP proponent CryptoBull2020 predict the price to hit $6 by mid of August 2020.

As per the chart posted by the analyst, the price movements seem to be following a pattern. The price initiates the weekly trade being on the higher end and drops suddenly. Later after a strong consolidation propels to the next levels. Considering the pattern, the analyst predicts the price may hit around $6 by mid of August 2021.

Also Read: XRP Price Hangs Above Crucial Support Levels, $5 Appears Imminent!

XRP Price Analysis

XRP price since the mid-may crash maintained a low-key trend and failed to sustain above the resistance levels around $1.06. Moreover, the start of the current trading month was quite bearish. The price, no doubt reattempted to surge above $1, yet failed to do so. 

With the fresh slump, the price remained below the key levels and initiated plunging by 10cents every couple of days. Currently, it is attempting hard to sustain above $0.7 levels where the bears have overpowered the crypto space. 

xrpchart

As seen in the above chart, the price has sustained above the support levels, despite the constant plunge. Therefore, if the price sustains the current downtrend, then a huge uptrend may be fast approaching. 

The XRP price at the press time is $0.7068 with a drop of 11.57% in the last 24 hours. Currently, the indicators also point out towards a bearish trend as the RSI levels have dropped below 20. The MACD line and the signal line are also moving towards the south parallelly and hence does not showcase a buy signal.

Technical Specifications

  • The resistance levels are at $0.935
  • The support levels are at $0.56
  • Indicators point out towards a sell signal

Also Read: Ripple Vs SEC : Ripple Gets a Setback in Lawsuit Against SEC

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Source: https://coinpedia.org/price-analysis/xrp-price-to-surge-by-mid-august/

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A Major Breakout Awaits Cardano Price, Is $2 Achievable Now?

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The crypto space is currently uncertain as the price of most of the coins does not point out either bullish or bearish. While speculations and anticipations fail for most of the coins, Cardano price stands away from the crowd. As the ADA price currently is not too bullish nor it does show signs of a plunge to lower lows. 

Despite a major drop during mid-may, the price remained above $1 whereas the other assets within a similar range plunge down to $0.7 to $0.8 levels. Considering the present scenario, ADA price is trending within a narrow range. And hence showcasing a possibility of a breakout as it failed to break down the strong support levels. 

Also Read: Is Cardano Price Poised For 500% Rally? ADA Price to Hit $10 By 2021 End

adapricetrianlge

As mentioned in the chart, the price after bouncing above the support levels did not dip below these levels in the past month. However, the fresh dip enforced the price to trade within the lower limits of the channel. On the other hand, a triangle pattern has also formed and the price already rebounded from the lower levels. And hence after a consolidation for another day or two, a breakout appears imminent. 

Cardano price bull run seems to approaching very fast as it has followed the uptrend line without any flaws. And the price could reach $1.84 or equal to 0.0000519 BTC by the end of July as predicted by a popular analyst, mantorras.

The crypto space is highly anticipated to gain enough momentum and bounce back. Many analysts believe the upcoming Q3 and Q4 of 2021 will be very fruitful than the initial one’s. And hence, Cardano price may also regain the lost positions above $2 with an aim to never revisit lower levels. In such a case, the bulls need to uplift the ADA price well before the time. 

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Source: https://coinpedia.org/price-analysis/major-breakout-awaits-cardano-ada-price/

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The Difference Between a Cryptocurrency Broker and an Exchange

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There are two main ways of cryptocurrency trading: the use of a crypto exchange or the service of a cryptocurrency broker. Both methods have advantages and disadvantages. To make the right choice, it is necessary to explore the peculiarities of each of them and determine your own requirements and expectations from trading.  

Although the cryptocurrency market is not a novelty for the world, there are still a lot of traders, including both newbies and experienced ones, who do not understand the difference between a cryptocurrency broker and an exchange. 

First, it is necessary to determine a significant difference in the very essence and purposes of both methods. 

Thus, it should be mentioned that cryptocurrency exchanges are very similar to regular exchange platforms. So, this way of cryptocurrency trading would be simple for those traders who have already worked with the exchange market. All quality cryptocurrency exchanges, such as Emirex, offer users two methods of purchasing the digital currency: to buy  a cryptocurrency for fiat and to exchange one currency for another (for example, BTC for ETH). 

So, cryptocurrency exchanges function as intermediaries. They arrange the deal and charge a fee for the service.

Meanwhile, a cryptocurrency broker is an intermediary between investors and the market. When you cooperate with a broker, you deposit funds in an intermediary’s account, and then, he/she decides what to do with your finances to bring you profits. 

Therefore, if you choose the service of a broker, you do not need to study the cryptocurrency market on your own and follow all changes. Your cryptocurrency broker will propose the best deals for you.

There are several main characteristics that differentiate the service of a cryptocurrency exchange from the support of a broker:

  • Registration and identification system
  • Account replenishment and withdrawal
  • Trading procedure
  • Security system 
  • Earnings 

Registration and Identification System 

The majority of exchanges provide quite a simple registration procedure. Traders just need to put in their email and create a password. Those platforms that work with fiat require a verification process as well. Exchanges ask for your picture with your ID, video call, pass KYC, etc. 

Brokers offer easy registration as well, but almost all of them need you to pass an identification procedure. It is important for them because their activity is regulated by authorized bodies.  

Account Replenishment and Withdrawal 

A lot of exchanges do not accept fiat for cryptocurrency trading, and those that use it, usually, charge a large commission. The commission is necessary regardless of the payment method.

Meanwhile, brokers offer you more options for replenishment and withdrawal (credit and debit cards, bank account, payment systems, etc.), and, generally, commissions are not charged at all.   

Trading Procedure 

Exchanges are great platforms for small volume trading. Moreover, exchanges are often used by holders who are interested in long-term and medium-term deals.

Broker maintenance is appropriate for large volume trading. It is quite popular among speculative traders who prefer to get profits in a short time. 

Security System 

Of course, the risk of a hacker attack is present in both trading methods. However, a broker activity is more reliable today than an exchange service because brokers are regulated by authorities.

In case of hacking and theft of funds, traders who work with brokers can expect to be compensated.

Earnings 

Exchanges engage traders with the diversity of digital currency pairs. However, such access to every proposition on the market requires traders to pay large commissions. 

From their side, brokers provide lower commissions, but they trade large sums; so, in case of an unsuccessful deal, there is a risk of losing too much. 

All in all, both methods are beneficial. It is just necessary to determine your individual interests on the cryptocurrency market. 

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Source: https://coinpedia.org/guest-post/difference-between-cryptocurrency-broker-and-exchange/

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