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Ethereum Price Defies Gravity, Here’s What Could Spark Bullish Moves
Ethereum price managed to stay above the ,520 support against the US dollar. ETH is rising and might rally if it clears the ,605 resistance.
- Ethereum averted more losses below the ,520 support zone.
- The price is trading above ,560 and the 100-hourly Simple Moving Average.
- There was a break above a major bearish trend line with resistance near ,562 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is moving higher toward the breakout zone at ,605.
Ethereum Price Starts Recovery
Ethereum managed to stay above the main breakdown support at ,520. The recent rise in XRP is sparking a recovery wave in the crypto market. ETH managed to start an increase above the ,550 and ,565 resistance levels, like Bitcoin.
There was a break above a major bearish trend line with resistance near ,562 on the hourly chart of ETH/USD. The pair climbed above the 23.6% Fib retracement level of the downward move from the ,669 swing high to the ,542 low.
Ethereum is now trading above ,565 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the ,600 level.
The first major resistance is near the ,605 zone or the 50% Fib retracement level of the downward move from the ,669 swing high to the ,542 low. The next key resistance is ,620. A close above the ,605 and ,620 resistance levels might start a steady increase.
Source: ETHUSD on TradingView.com
In the stated case, Ether could start a recovery wave toward the ,665 resistance. Any more gains might open the doors for a move toward ,750.
Another Decline in ETH?
If Ethereum fails to clear the ,605 resistance, it could start another decline. Initial support on the downside is near the ,575 level and the 100-hourly Simple Moving Average.
The next key support is ,540. The main support is still near ,520. A downside break below the ,520 support might send the price further lower. In the stated case, the price could drop toward the ,440 level. Any more losses may perhaps send Ether toward the ,350 level in the medium term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 level.
Major Support Level – ,575
Major Resistance Level – ,605
Bitcoin Price Defies Gravity And Here’s Why BTC Could Surge To $30K
Bitcoin price surged above the ,000 resistance zone. BTC is correcting gains, but dips might be limited below the ,200 support zone.
- Bitcoin is up over 20% in a few days and there was a move above the ,000 resistance.
- The price is trading above ,000 and the 100 hourly simple moving average.
- There is a key bullish trend line forming with support near ,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could rally further if it stays above the ,200 support zone.
Bitcoin Price Extends Rally
Bitcoin price remained well bid above the ,000 support zone. BTC started another steady increase and was able to clear the ,500 resistance zone, outperforming altcoins such as Ethereum and Ripple.
There was a clear move above the ,500 and ,000 resistance levels. The price traded to a new multi-week high at ,450 and is currently correcting gains. There was a minor downside correction below the ,200 and ,000 levels.
Bitcoin price is now trading above ,000 and the 100 hourly simple moving average. It is also well above the 23.6% Fib retracement level of the upward move from the ,913 swing low to ,450 high.
Besides, there is a key bullish trend line forming with support near ,100 on the hourly chart of the BTC/USD pair. On the upside, an immediate resistance is near the ,000 level. The next major resistance is near the ,500 zone or the recent high.
Source: BTCUSD on TradingView.com
A close above the ,500 resistance might start another surge. In the stated case, the price could rally towards the ,500 level. The next key resistance is near the ,800 zone, above which the price might test the ,000 barrier.
Dips Supported in BTC?
If bitcoin price fails to clear the ,500 resistance, it could start a downside correction. An immediate support on the downside is near the ,400 zone.
The next major support is near the trend line and ,000, below which the price even test the 100 hourly simple moving average. The next major support is near the ,200 level. Any more losses might send the price towards the ,000 level.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – ,200, followed by ,200.
Major Resistance Levels – ,000, ,500 and ,000.
Bitcoin Defies Gravity, But $10,900 Still Presents Strong Resistance
Bitcoin price is slowly recovering from the ,387 low against the US Dollar. BTC broke the ,650 resistance and it might soon test the ,800 resistance or the ,900 barrier.
- Bitcoin started a fresh upward move above the ,550 and ,650 resistance levels.
- The price is up 2%, and it is trading above the ,700 level and the 100 hourly simple moving average.
- There is a key rising channel forming with support near ,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is currently showing positive signs, but it is likely to face strong resistance near ,900.
Bitcoin Price is Facing Hurdles
After a steady decline, bitcoin price found support just above ,350 against the US Dollar. BTC price traded as low as ,387 and recently started a fresh upward move.
The bears seem to have lost control, as the price was able to climb above the ,550 resistance level. There was also a break above the 50% Fib retracement level of the key decline from the ,930 high to ,387 low.
Bitcoin is now trading above the ,650 resistance and the 100 hourly simple moving average. It seems like there is a key rising channel forming with support near ,650 on the hourly chart of the BTC/USD pair.
Bitcoin price dives below ,800. Source: TradingView.com
On the upside, the first major resistance is near the ,800 level. It is close to the 76.4% Fib retracement level of the key decline from the ,930 high to ,387 low. The next major resistance is near the ,850 level, above which the price might attempt another upside break above the ,900 and ,000 resistance levels.
A successful close above ,900 and then a follow up move above ,000 could start a strong increase in bitcoin in the coming sessions.
Fresh Drop in BTC?
If bitcoin fails to continue higher above the ,800 resistance or the ,900 barrier, there is a risk of a fresh drop. An initial support is near the channel lower trend line at ,650.
The next major support is near the ,600 level or the 100 hourly simple moving average, below which there are high chances of a fresh dive towards the ,350 support zone.
Technical indicators:
Hourly MACD – The MACD is showing a few signs of recovery in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 60 level.
Major Support Levels – ,650, followed by ,600.
Major Resistance Levels – ,800, ,850 and ,900.
Ethereum Defies Gravity But Here Is Why It Could Struggle Near $500
Ethereum extended its rally by 10% and it broke the 5 resistance against the US Dollar. ETH price traded to a new multi-month high at 0 before starting a downside correction.
- Ethereum is up over 10% and it broke the 5 and 0 resistance levels.
- The price traded to a new multi-month high at 0 and settled well above the 100 hourly simple moving average.
- There are two major bullish trend lines forming with support near 0 and 0 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is likely to resume its upward move, but it won’t be easy for the bulls to clear the 0 barrier.
Ethereum Price Closing In Towards 0
In the last couple of analysis, we discussed the chances of a strong rise above 0 and 0 in Ethereum against the US Dollar. ETH price did break the 0 resistance and it even climbed above the 5 resistance zone.
The upward move was such that ether price climbed above the 0 resistance. A new multi-month high is formed near 0 and the price is currently correcting gains. It broke the 0 level, and the 23.6% Fib retracement level of the recent surge from the 8 swing low to 0 high.
However, there are many supports near 0 and 5. There are also two major bullish trend lines forming with support near 0 and 0 on the hourly chart of ETH/USD. The second trend line is important since it is close to the 50% Fib retracement level of the recent surge from the 8 swing low to 0 high.
Ethereum price trades above 0. Source: TradingView.com
On the upside, the 8 and 0 levels are immediate hurdles. The main hurdle for the bulls is near the 0 psychological barrier, above which there are chances of another strong surge in the near term.
Downsides Are Likely To Be Limited in ETH
If Ethereum fails to clear the 8 resistance or the 0 barrier, it could start a major downside correction. The first key support is near the trend line and the 0 level.
A clear break below the 0 support and the trend line might lead the price towards the 0 level. The next key support is near the 8 level and the 100 hourly simple moving average.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving back into the bullish zone.
Hourly RSI – The RSI for ETH/USD is still well above the 50 level.
Major Support Level – 0
Major Resistance Level – 8
Ethereum Defies Gravity But It Must Clear 100 SMA To Continue Higher
Ethereum found support near 8 and started a sharp recovery wave against the US Dollar. ETH price is now facing hurdles near the 4 level and the 100 hourly SMA.
- Ethereum is up around 4% and it recovered nicely above 5 and 0.
- The price is currently struggling to gain pace above 4 and the 100 hourly simple moving average.
- There is a short-term ascending channel forming with support near 0 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is likely to rise further if it clears the 4 and 5 resistance levels.
Ethereum Price Recovers Sharply
Yesterday, there was a downside extension in Ethereum price below the 5 and 0 levels against the US Dollar. ETH traded to a new weekly low at 8 and recently started a strong recovery wave.
There was a break above the 0 and 5 levels. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the 8 swing high to 8 low.
Ether even surpassed a key bearish trend line with resistance near 0 on the hourly chart of ETH/USD. However, the price is currently facing a strong resistance near the 4 level and the 100 hourly simple moving average.
![Ethereum Price](https://www.newsbtc.com/wp-content/uploads/2020/06/Ethereum-13.png)
The 76.4% Fib retracement level of the downward move from the 8 swing high to 8 low is also acting as a resistance. If ETH gains pace above the 4 and 5 resistance levels, it is likely to continue higher towards 0 and 5. Any further gains could lead the price towards the main 0 resistance in the near term.
Fresh Decline in ETH?
Ethereum is clearly facing a strong resistance near the 4 level and the 100 hourly SMA. If it fails to continue above the 4 zone, there is a risk of a fresh decline.
It seems like there is a short-term ascending channel forming with support near 0 on the same chart. A downside break below the channel support might increase selling pressure and the price might drop to 0 in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now well above the 50 level, with positive signs.
Major Support Level – 5
Major Resistance Level – 4
Take advantage of the trading opportunities with Plus500
Risk disclaimer: 76.4% of retail CFD accounts lose money.
Ethereum Defies Gravity But Here’s Why It Must Break $250 For Fresh Rally
Ethereum started a fresh increase from the 5 zone against the US Dollar. ETH price is now trading nicely above 0, but it is still struggling to gain momentum above 5 and 0.
Ethereum is trading well above the 0 support and the 100 hourly simple moving average.
The price must surpass the 5 and 0 resistance levels to continue higher.
There was a break above a key bearish trend line with resistance near 2 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could dip in the short term, but the 0 zone is likely to provide support.
Ethereum Price Showing Positive Signs
Ethereum price extended its decline below the 0 support level. ETH price traded close to the 5 level before the bulls took a stand. A low is formed near 4 and the price recently recovered sharply.
There was a break above the 0 resistance zone and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near 2 on the hourly chart of ETH/USD.
Ethereum Price
However, ether price again struggled to gain strength above the 5 resistance. A high is formed near 6 and the price is currently correcting lower. It tested the 23.6% Fib retracement level of the recent wave from the 4 low to 6 high.
The first major support on the downside is near the 2 level and the 100 hourly simple moving average. The next key support is near the 0 level and the 50% Fib retracement level of the recent wave from the 4 low to 6 high.
On the upside, the bulls need to gain strength above the 5 and 0 resistance levels to start a strong increase. The next major barrier could be near the 0 and 2 levels.
Dips Supported in ETH
If Ethereum fails to continue higher above 5, it could react to the downside. The main support is near the 0 level and the 100 hourly simple moving average.
If the price settles below 0, there is a risk of another test of the 0 support. Any further losses could lead the price towards the 0 support zone.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently well above the 50 level.
Major Support Level – 0
Major Resistance Level – 0
Take advantage of the trading opportunities with Plus500
Risk disclaimer: 76.4% of retail CFD accounts lose money.
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Ripple (XRP) Defies Gravity: Main Reasons $0.25 or $0.26 Are Likely Targets
Ripple extended its rally above the .2200 resistance against the US Dollar. XRP price is showing many positive signs and it could continue to rise towards .2500 or .2600.
Ripple price is up close to 10% and it climbed above the .2300 level against the US dollar.
It tested the .2350 resistance and currently consolidating gains.
There is a key bullish trend line forming with support near .2280 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair remains in a nice uptrend and it could continue to rise towards the .2500 resistance level.
Ripple Price Breaks Key Hurdle
This week, there was a strong uptrend in ripple above the .2000 resistance. Yesterday’s XRP price fueled bitcoin and it rallied more than 15% to test the ,000 resistance level today.
XRP price is following a nice uptrend and it recently surged above the .2200 and .2300 resistance levels. The bulls even pushed the price towards the .2350 resistance, with a strong close above the 100 hourly simple moving average.
A new monthly high is formed near .2356 and the price is currently consolidating gains. An initial support is near the .2285 level. It is close to the 23.6% Fib retracement level of the recent surge from the .2051 swing low to .2356 high.
Moreover, there is a key bullish trend line forming with support near .2280 on the hourly chart of the XRP/USD pair. If ripple fails to stay above the .2280 support level, there could be an extended decline.
Ripple Price
The next major support is seen near the .2200 level or the 50% Fib retracement level of the recent surge from the .2051 swing low to .2356 high. Any further losses could lead the price towards the .2120 support or even 100 hourly simple moving average.
More Upsides?
Ripple is clearly trading in a strong uptrend above the .2280 support area. On the upside, an initial resistance is near the .2350 level.
If there is a clear break above the .2350 resistance and the .2356 high, the price could continue to rise towards the .2500 resistance. The next major hurdle above .2500 is near the .2600 level.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly reducing its current bullish slope.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower from the 80 level.
Major Support Levels – .2280, .2200 and .2120.
Major Resistance Levels – .2350, .2420 and .2500.
Take advantage of the trading opportunities with Plus500
Risk disclaimer: 76.4% of retail CFD accounts lose money.
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Ripple (XRP) Defies Gravity But Here Is Why It Could Correct In Short-Term
Ripple started an upward move above the .1850 resistance area against the US Dollar. However, XRP price is struggling to gain momentum above the .1900 and .1920 resistance levels.
Ripple price is showing positive signs above the .1850 pivot level against the US dollar.
The bulls are still struggling to gain strength above the .1900 and .1920 levels.
There is a connecting bullish trend line forming with support near .1850 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is likely to continue higher towards .1950 as long as it is above .1850.
Ripple Price Remains Supported on Dips
After correcting lower, ripple found support near the .1800 level. XRP price formed a support base above the .1820 level and recently started a decent upward move, following bitcoin and Ethereum.
The upward move was such that the price climbed nicely above the .1850 resistance and the 100 hourly simple moving average. It opened the doors for more gains above the .1880 resistance level.
Ripple even broke the 61.8% Fib retracement level of the key decline from the .1951 high to .1785 low. It is now trading above a major bearish trend line at .1880 on the hourly chart of the XRP/USD pair.
Ripple Price
On the upside, the bulls are struggling to clear the .1910-.1920 resistance area. The 76.4% Fib retracement level of the key decline from the .1951 high to .1785 low is also stopping gains. The price currently correcting lower below .1900 and testing the 100 hourly SMA.
On the downside, there is a strong support forming near the .1850 level. There is also a connecting bullish trend line forming with support near .1850 on the same chart.
If XRP fails to stay above the .1850 support area, it could move back into a negative zone. Any further losses might call for a test of the .1800 level
Upside Continuation Scenario
Ripple is likely to remain well bid above the .1850 support and the trend line. On the upside, the bulls need to gain momentum above the .1900 and .1920 level.
If they succeed, there are high chances of more upsides towards the .1950 level. The main resistance on the upside is near the .2000 level.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is correcting lower towards the 50 level.
Major Support Levels – .1880, .1850 and .1800.
Major Resistance Levels – .1910, .1920 and .1950.
Take advantage of the trading opportunities with Plus500
Risk disclaimer: 76.4% of retail CFD accounts lose money.
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This Crypto is “Defying Gravity” as Uptrend Shows No Signs of Stopping
Throughout the past several weeks and months Tezos has been one of the best performing cryptos, with its massive rise only being rivaled by that seen by Chainlink.
This strength has led the crypto to essentially “defy gravity” – seeing an uptrend so strong that bears haven’t been able to make any successful attempts to thwart or invalidate it.
One driving factor behind this strength has been the general bullishness seen by the proof-of-stake (PoS) sector, with many of Tezos’ peers also seeing immense upwards momentum.
Tezos Sees Bullish Continuation as Crypto Analysts Watch for Further Upside
At the time of writing, Tezos is trading up over 7% at its current price of .30, up from daily lows of .09 that were set early yesterday.
Throughout the past few days, XTZ has seen some immense volatility that has led the cryptocurrency to form a relatively wide trading range between .09 and .35.
The crypto is now attempting to retest these range highs that were set just a couple of days ago, and it could see further momentum if it is able to surmount this level.
These current range highs also mark the highest prices the crypto has seen in the time following its capitulatory decline on March 12th, meaning that a break above this level would be significant from a technical perspective.
One popular trader on Twitter spoke about the intensity of XTZ’s uptrend in a recent tweet, explaining that it is “defying the laws of gravity” while pointing to a chart showing its firm uptrend in the time following its recent falling wedge breakout.
Image Courtesy of Teddy
Proof-of-Stake Sector Sees Notable Growth in Q1 2020
According to a recent report from blockchain data firm Messari, the growing trend of “staking as a service” – in which crypto exchanges like Coinbase and Binance allow users to automatically stake their tokens – is a trend that is likely to grow in in Q2.
“Staking will also be a prominent theme in the next quarter as more exchanges and custodians (and maybe even funds) start to add or bolster their staking platforms,” they noted.
It is important to bear in mind that the start of Tezos’ insane uptrend coincided closely with news regarding Coinbase offering staking rewards on XTZ tokens staked on their platform.
This feature came about in early-November of 2019 while the crypto was trading at under .00.
Almost instantly after the announcement was made, it began the uptrend that would eventually lead the crypto to highs of nearly .00.
With that being said, the growth of PoS projects and their forced adoption via the growth of staking as a service initiatives may help catalyze further momentum for Tezos and other PoS tokens in the quarter ahead.
Featured image from Unsplash.
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