Tag: transformation

Bitcoin price started another decline below $90,000. BTC is now showing bearish signs and might struggle to recover above $88,5000. Bitcoin started a fresh decline below $92,000 and $90,000. The price is trading below $90,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $91,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move down if it settles below the $90,000 zone. Bitcoin Price Dips Further Bitcoin price failed to stay in a positive zone above the $90,000 level. BTC bears remained active below $88,800 and pushed the price lower. The bears gained strength and were able to push the price below the $87,500 zone. A low was formed at $85,276, and the price is now consolidating losses below the 23. 6% Fib retracement level of the recent decline from the $92,872 swing high to the $85,276 low. Bitcoin is now trading below $90,000 and the 100 hourly Simple moving average. Besides, there is a bearish trend line forming with resistance at $91,500 on the hourly chart of the BTC/USD pair. If the bulls attempt another recovery wave, the price could face resistance near the $87,000 level. The first key resistance is near the $89,000 level and the 50% Fib retracement level of the recent decline from the $92,872 swing high to the $85,276 low. The next resistance could be $91,000 and the trend line. A close above the $91,000 resistance might send the price further higher. In the stated case, the price could rise and test the $92,500 resistance. Any more gains might send the price toward the $93,200 level. The next barrier for the bulls could be $94,500 and $95,000. More Losses In BTC? If Bitcoin fails to rise above the $90,000 resistance zone, it could start another decline. Immediate support is near the $85,500 level. The first major support is near the $85,000 level. The next support is now near the $83,200 zone. Any more losses might send the price toward the $82,500 support in the near term. The main support sits at $80,000, below which BTC might accelerate lower in the near term. Technical indicators: Hourly MACD The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) The RSI for BTC/USD is now below the 50 level. Major Support Levels $85,500, followed by $85,000. Major Resistance Levels $87,000 and $89,000.

XRP price started a fresh decline below $2. 250. The price is now attempting to recover and faces resistance near the $2. 32 pivot level. XRP price started a fresh decline below the $2. 250 zone. The price is now trading below $2. 250 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $2. 2250 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it settles below $2. 10. XRP Price Attempts Recovery XRP price attempted a recovery wave above $2. 280 but failed to continue higher, like Bitcoin and Ethereum. The price started a fresh decline below $2. 250 and $2. 220. There was a move below the $2. 120 support level. A low was formed at $2. 105, and the price is now attempting a recovery wave. There was a move above the 23. 6% Fib retracement level of the downward move from the $2. 525 swing high to the $2. 058 low. The price is now trading below $2. 250 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2. 220 level. There is also a bearish trend line forming with resistance at $2. 2250 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2. 250 level. A close above $2. 250 could send the price to $2. 30. The next hurdle sits at $2. 320 or the 50% Fib retracement level of the downward move from the $2. 525 swing high to the $2. 058 low. A clear move above the $2. 320 resistance might send the price toward the $2. 40 resistance. Any more gains might send the price toward the $2. 450 resistance. The next major hurdle for the bulls might be near $2. 50. Another Decline? If XRP fails to clear the $2. 250 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2. 150 level. The next major support is near the $2. 10 level. If there is a downside break and a close below the $2. 10 level, the price might continue to decline toward $2. 050. The next major support sits near the $2. 00 zone, below which the price could continue lower toward $1. 880. Technical Indicators Hourly MACD The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) The RSI for XRP/USD is now above the 50 level. Major Support Levels $2. 10 and $2. 050. Major Resistance Levels $2. 250 and $2. 320.

Ethereum price failed to stay above $3,550. ETH is trimming gains and might decline further if it dips below the $3,350 support. Ethereum started a fresh decline after it failed to stay above $3,550. The price is trading below $3,500 and the 100-hourly Simple Moving Average. The pair could continue to move down if it settles below the $3,350 zone. Ethereum Price Dips Further Ethereum price failed to continue higher above $3,650 and started a fresh decline, like Bitcoin. ETH price dipped below $3,550 and entered a short-term bearish zone. The decline gathered pace below $3,500 and the price dipped below the 50% Fib retracement level of the upward move from the $3,176 swing low to the $3,658 high. Ethereum price is now trading below $3,550 and the 100-hourly Simple Moving Average. If there is another recovery wave, the price could face resistance near the $3,475 level. The next key resistance is near the $3,500 level. The first major resistance is near the $3,550 level. There is also a key bearish trend line forming with resistance at $3,550 on the hourly chart of ETH/USD. A clear move above the $3,550 resistance might send the price toward the $3,650 resistance. An upside break above the $3,650 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,800 resistance zone or even $3,880 in the near term. More Losses In ETH? If Ethereum fails to clear the $3,500 resistance, it could start a fresh decline. Initial support on the downside is near the $3,400 level. The first major support sits near the $3,360 zone and the 61. 8% Fib retracement level of the upward move from the $3,176 swing low to the $3,658 high. A clear move below the $3,360 support might push the price toward the $3,280 support. Any more losses might send the price toward the $3,240 region in the near term. The next key support sits at $3,220 and $3,200. Technical Indicators Hourly MACD The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI The RSI for ETH/USD is now below the 50 zone. Major Support Level $3,360 Major Resistance Level $3,550.