Connect with us

Coinpedia

Bitcoin Price Attempting Hard to Continue With Bull Run, What’s Next?

Bitcoin price rally trading below $50,000, with a breakout, the levels may slip still more lower. BTC price also manifests signs of bull run.

Published

on

Bitcoin Price Rally Expected to Flip Soon!!

The bitcoin price rally that fumed into ashes by smashing the levels below $47,000 indicating a massive correction, may revisit the similar levels soon. However, the continued bull run of bitcoin price cannot be ruled out completely, yet the timeline remains the prime focus.

The BTC price does not appear to be ready for a great bull run according to an analyst Micheal van de Poppe. According to the analysts, the price may retest the levels close to $55K else if it fails to hold at $47k, the price may plunge as low as $38K too.

On the contrary, the institutional investors may have accumulated more bitcoins at the dip as weak hands just let off their share. According to Ki Young Ju, CEO of cryptoquant, an analytics platform, nearly 13K BTC flowed out of Coinbase to multiple custody wallets.

This is speculated as the biggest bullish signal ever in the history as the speculation of the accumulation by institutions heated up amid MicroStrategy announcing more bitcoin purchases. The company bought nearly $1 billion worth bitcoin with a total of 90,531 BTC worth $4,492,274,963 with an initial investment of $2,171,000,000 as per Bitcoin Treasuries.

Will Bitcoin Flip the Bearish Momentum?

The BTC price currently has experienced multiple rejections at $51,000 and hence these levels tend to become strong resistance levels. At present, the price is attempting very hard to sustain above $50,000 manifesting the bulls sweat yet the bears tend to bring the price down below $50K.

bitcoin price growing

The recovery after two consecutive dips manifests the strong bullish momentum being mounting, and the consolidation after breaking the ‘W-shaped’ pattern indicates a major breakout may be approaching very soon.

At the time of writing, the Bitcoin price is $50,484 with a jump of just 0.08% in the last 24-hours, however, the price gained a bullish trend after a 4.15% dip in the past seven days.

Currently, the prime focus would be to sustain strongly above $50,000 and head towards the next resistance levels above $51,000. Worry lies around the support levels at $47,000 that may hinder the bitcoin price rally.

This is speculated as the biggest bullish signal ever in the history as the speculation of the accumulation by institutions heated up amid MicroStrategy announcing more bitcoin purchases. The company bought nearly $1 billion worth bitcoin with a total of 90,531 BTC worth $4,492,274,963 with an initial investment of $2,171,000,000 as per Bitcoin Treasuries.

Source: https://coinpedia.org/news/bitcoin-price-may-flip/

bitcoin-price-attempting-hard-to-continue-with-bull-run,-what’s-next?

Coinpedia

Solana Price in Discovery Mode, SOL Price to Hit $150 Soon!!

Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge

Published

on

Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge milestones in a short period of time and has developed tremendously.

SOL price has risen dramatically in the last seven days, reaching an all-time high of over $80 on August 18th. The total market capitalization is at around $21 billion.

SOL Price Analysis

The Solana coin is creating divergence with price movement and technical characteristics on the weekly chart. The coin is rising in value as it forms greater highs and lower lows patterns. The current Solana price prediction mood is bullish.

The coin’s price has been fluctuating between $68 and $75.90 on a daily basis. Meanwhile, the token remains barely over $71 as bulls aim for a return to $80.

The SOL bulls may be taking a break. A short-term slump does not always imply that the asset has reached its peak. This is why. To begin with, the general mood remained upbeat. Awesome Oscillators green final bars mimicked a similar phase.

The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.

$150 for Solana?

Smart Contracter, a well-known crypto trader, is forecasting fresh all-time highs for Ethereum competitor Solana.

A 130 percent gain for Solana from its current price of $65.15 isn’t outlandish, according to the crypto analyst. The Analyst estimates a $150 price tag for Solana after five waves, using Elliott Wave, which predicts price swings based on crowd psychology that tends to emerge in waves.

“This SOL ath [all-time high] breakout is looking like a monster wave three in the making. $150 is not unreasonable in my opinion.”

The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.

Source: https://coinpedia.org/price-analysis/solana-price-in-discovery-mode-sol-price-to-hit-150-soon/

solana-price-in-discovery-mode,-sol-price-to-hit-$150-soon!!

Continue Reading

Coinpedia

Bitcoin Price Facing Vital Resistance As Golden Cross Expected On 13th August!

Bitcoin(BTC) price after rallying above $46500, it consolidation again around the strong support levels in order to head close to $50,000

Published

on

Bitcoin price rallied remarkably and successfully added yet another $2000 with a nearly 6.1% jump. Moreover, the price also achieved the important resistance levels around the 200-day MA at $44,864. The rally marked a bullish re-establishment but with the beginning of the fresh day trade, BTC price initiated with consolidation. Whereas most of the altcoins appear extremely bullish.

The past weekend turns out to be a pivotal period that dragged the crypto space out of the reach of the bears. BTC price currently is reattempting to surge above $46000, keeping the bullish momentum well in place. On the other hand, the ETH price comfortably resides above $3100 after the occurrence of the Golden Cross.

Also Read: Bitcoin Price Analysis: Is Short Term Correction Evident Before the Golden Cross? Popular Analyst Says YES!

However, the Golden Cross on Bitcoin is expected to occur in a coming couple of days on 13th August 2021 as predicted by analysts.

Currently, the exchange outflow ratio has fallen to the lowest point since June 2019. Therefore a sense of confidence among the holders is withnessed as large exchange sell-offs are less common when less supply is at risk on exchanges.

Despite Bitcoin price closed above the important daily 200-MA, buyers appear to be exhausted in fueling the bull run. However, if the consolidation drags the price down, a higher low between $44,000 to $44,300 could preserve its uptrend. And hence, the BTC price could ultimately coil up towards $50,000, $48,000 could be the initial stop.

Also Read: Ethereum Price Flips Before Hitting Crucial Support Zones, Bull Market Resumes!

Despite Bitcoin price closed above the important daily 200-MA, buyers appear to be exhausted in fueling the bull run. However, if the consolidation drags the price down, a higher low between $44,000 to $44,300 could preserve its uptrend. And hence, the BTC price could ultimately coil up towards $50,000, $48,000 could be the initial stop.

Source: https://coinpedia.org/bitcoin/bitcoin-price-facing-vital-resistance-as-golden-cross-expected-on-13-august/

bitcoin-price-facing-vital-resistance-as-golden-cross-expected-on-13th-august!

Continue Reading

Coinpedia

Polygon (MATIC) Price Retraces Well, Is It A Dead Cat Bounce Or A Recovery?

The Polygon price struggling to sustain the uptrend, the possibility of a fake breakout haunts the Matic Price Rally

Published

on

Matic Netwrok gained immense popularity and recognition with the rebranding to Polygon, earlier this year. Additionally, the Matic price rally also gained mainstream attention and adoption of-let. However, surrounding the immense market uncertainty, Polygon price slumps to its lowest levels.

The price has tanked more than a couple of time in a months time. Therefore healing is much delayed than expected. No doubt the price initiated with recovery within a short time frame, yet the multiple plunges have impacted the momentum of the uptrend. And hence, the probability of forming higher highs has fallen down to lower highs.

matic deadcat

As mentioned in the chart, the MATIC price experiences an extreme squeeze as the resistance levels are lower after each slump. The recovery rate has also gone down which clearly indicates the loss of bullish momentum. With the price attempting to uplift again, it would be mandatory to raise a huge leg up. Else, if the price follows the previous pattern, the dead cat bounce may lead the price to revisit the levels below $1.

AlsoRead: MATIC Price Targets $2.40 Level! Polygon Flashes Buying Signals!

Is It Safe To Enter The Matic Price Trade?

The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

However, the recent dip may have opened the doors to initiate a ‘buy’ trade. As the price is expected to jump high soon. As per the analyst, Altcoin Sherpa, there was a nice dip towards the demand zone. Moreover, the analyst believes the price may reach the weakly highs around $1.7.

$MATIC: Nice dip to the demand zone again w. a good reaction. Would like to see it flip this current level before buying. Decent buy volume from yesterday; we’ll see if this can test higher. #MATIC pic.twitter.com/LDCPEowSh8

— Altcoin Sherpa (@AltcoinSherpa) June 23, 2021

Interestingly, the analyst also predicts a dip after the price attains the upper resistance levels. And hence, the $2 target still remains still misty. As the bulls remain still calm and maybe waiting for the right time to uplift the Matic price.

The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

Source: https://coinpedia.org/price-analysis/polygon-matic-price-recovers-well/

polygon-(matic)-price-retraces-well,-is-it-a-dead-cat-bounce-or-a-recovery?

Continue Reading

Title

CNBC3 days ago

Stitch Fix shares surge as online styling service reports surprise profit

Stitch Fix shares jumped after the online shopping and styling service reported a surprise profit for its fiscal fourth quarter.

Techcrunch2 weeks ago

South Korean antitrust regulator fines Google $177M for abusing market dominance – TechCrunch

The Korea Fair Trade Commission (KFTC) said on Tuesday it fined Google $177 million for abusing its market dominance in...

Cointelegraph2 weeks ago

El Salvador’s Bitcoin detractors: Opposition groups gather as crypto law rolls out

While President Bukele enjoys widespread popularity, his law that makes Bitcoin legal tender does not.

Ventureburn2 weeks ago

Startup partners with Telkom to launch translation platform for SA languages

Telkom has partnered with SA startup Enlabeler to launch an AI platform that translates speech into text and provides transcription...

Entrepreneur3 weeks ago

Why You Should Make Twitter Spaces Part of Your Business Strategy

Twitter's latest feature can help businesses grow their presence on the platform.

Bioengineer3 weeks ago

What factors put Philippine birds at risk of extinction?

Credit: Ça?an ?ekercio?lu The lush forests and more than 7,000 islands of the Philippines hold a rich diversity of life,

Reuters4 weeks ago

Chinese social media platforms to “rectify” financial self-media accounts

China's top social media platforms, Wechat, Douyin, Sina Weibo and Kuaishou, said on Saturday they would begin to rectify irregular...

Ventureburn4 weeks ago

South African startups helping to solve the global challenges

A new generation of entrepreneurs are not only incubating solid startups but are contributing to help solve some of the...

Techcrunch1 month ago

The SEC and the DOJ just charged this startup founder with fraud, saying he lied to Tiger and others – TechCrunch

Today, both the U.S. Department of Justice and the Securities and Exchange Commission charged Manish Lachwani, cofounder of a mobile...

Techcrunch1 month ago

Blockchain startup XREX gets $17M to make cross-border trade faster – TechCrunch

A substantial portion of the world’s trade is done in United States dollars, creating problems for businesses in countries with a...

Review

    Select language

    Trending