analysis

Jun 26 2021

Bitcoin Price Prediction: BTC/USD Creeps toward $31,000

Bitcoin Price Prediction – June 25

The Bitcoin price moves below $32,000 as the king coin is likely to climb steadily with a few downward moves.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $37,500, $39,500, $41,500

Support Levels: $26,500, $24,500, $22,500

In recent days, BTC/USD has been turbulent keeping its price above the 9-day and 21-day moving averages. During the European session today, the Bitcoin price rises sharply by moving above the resistance level of $32,500. Meanwhile, the first digital asset exceeded this level before correcting lower. At the moment, the price is declining and remains below the 21-day moving average at $31,426.

Bitcoin Price Prediction: What is the Next Direction?

A crucial uptrend could form above the 9-day and 21-day MAs, with support close to $30,000 on the daily chart. However, if the decline occurs below this barrier, the price could extend its downward correction to the $28,000 level and any other loss could possibly push the Bitcoin price to the support level of $26,000.

Looking at the daily chart, the Bitcoin price touches the daily low of $30,173 and a further drop may cause the market to reach the critical supports at $26,500, $24,500, and $22,500. In other words, if the market were to rebound, traders could see the next buying pressure towards the resistance levels of $37,600, $39,500, and $41,500. Nevertheless, BTC still ranging on the daily chart, with the Relative Strength Index (14) moving sideways.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

Looking at the 4-hour chart, the resistance at the $32,000 was too heavy for the bulls to overcome. So the price is seriously struggling in a consolidation mode, which has made BTC remain indecisive over the past few hours now. The resistance levels to watch are 34,000 and above.

However, the Bitcoin price is still roaming around $31,755 and we can see that the bullish supply has been slowly turning heavy in the market, while the bears are trying to drag the price below $32,000 support. Meanwhile, the $30,200 and below may come into play if BTC breaks the mentioned support. The technical indicator Relative Strength Index (14) is moving to cross below the 40-level, suggesting more bearish signals.

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Bitcoin Price Prediction: BTC/USD Creeps toward $31,000

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Jun 25 2021

Bitcoin Price Prediction: BTC/USD Climbs Above $35,000 Again

Bitcoin Price Prediction – June 24

Looking at the daily chart, the Bitcoin price is showing positive signs and it is likely to accelerate further higher in the near term.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $40,000, $42,000, $44,000

Support Levels: $28,000, $26,000, $24,000

According to the daily chart, after touching the daily low of $32,300, BTC/USD breaches $35,000 as all-time high beckons. The king coin is seen touching the 9-day and 21-day moving averages at $35,295. More so, the Bitcoin price is within touching distance of forming a new all-time high above the $35,000, which is quite remarkable.

Bitcoin Price Prediction: Will BTC Price sees a Further Upside?

At the time of writing, the Bitcoin price is seen trading comfortably towards the upper boundary of the channel as the price establishes a new bullish signal. Like the look of things, one could say that the long-term outlook is favoring the bulls, giving the daily close produced a large bullish engulfing candle with eyes now set on the daily resistances at $40,000, $42,000, and $44,000 respectively.

However, any drop from the current level could lead to declines to the critical support and caused the coin to remain below the 9-day and 21-day moving averages. In case BTC/USD drops and touches the low of $30,000 support, then the coin can rely on the long-term support levels at $28,000, $26,000, and $24,000. Moreover, the technical indicator Relative Strength Index (14) is now moving above 40-level, suggesting more bullish signals.

BTC/USD Medium-term Trend: Bearish (4H Chart)

According to the 4-hour chart, the Bitcoin price is seen trading above the 9-day and 21-day moving averages at $34,795. However, today’s price move happens to be an impressive one as it climbs above the long-awaited resistance level of $35,000 with a sharp upsurge. However, the Bitcoin price is now maintaining its bull-run around the upper boundary of the channel as the technical indicator Relative Strength Index (14) moves above 50-level.

On the contrary, BTC/USD may take a downward move if the bulls failed to push the price above the channel and the first digital asset may drop below the 9-day and 21-day moving averages which could reach a critical support level of $32,000 and below. Nevertheless, if the bulls find a decent resistance level above $35,000, the coin may continue the bullish movement by crossing above the channel to reach the resistance level of $37,000 and above.

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Bitcoin Price Prediction: BTC/USD Climbs Above $35,000 Again

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Jun 23 2021

Bitcoin Price Prediction: BTC/USD Retests $34,800 High

Bitcoin Price Prediction – June 23

The Bitcoin bulls are working hard to nurture a bullish trend from the support at $31,708.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $40,000, $42,000, $44,000

Support Levels: $27,000, $25,000, $23,000

BTC/USD is currently trading 2.66% higher on the day after the coin opened the session at $32,538 and touches the daily high of $31,708. The first digital asset is moving within the short-term bullish trend amid low volatility. The current conditions imply that the price may stay range-bound during the next trading hours as the coin remains below the 9-day and 21-day moving averages. Meanwhile, the technical indicator Relative Strength Index (14) may start moving sideways.

Bitcoin Price Prediction: What to Expect from Bitcoin

At the opening of the market today, after testing the low of $31,708, the Bitcoin price is currently hovering at $33,402. Meanwhile, looking at the market movement, there is likely that the market may experience a quick retracement or sell-off just after touching the crucial $34,000, and traders may see $35,000 to $38,000 being tested again before pushing higher.

On the downside, if the market decides to fall, the Bitcoin price could fall towards the lower boundary of the channel at $28,000, and if that support fails to hold the sell-off, traders could see a further decline towards the support levels of $27,000, $25,000, and critically $23,000. All the same, any further bullish movement towards the upper boundary of the channel may hit the resistance levels at $40,000, $42,000, and $44,000.

BTC/USD Medium – Term Trend: Bearish (4H Chart)

When compares with the 4-hour chart, the Bitcoin price first touches the daily high of $34,881 but now dropping slightly. If the price continues to drop further and moves below the 9-day and 21-day moving averages, it could reach the nearest support levels at $30,500 and below.

Moreover, if the bulls push the coin above the upper boundary of the channel, the Bitcoin price may likely reach the potential resistance levels of $36,000 and above. Presently, the market may be indecisive as the technical indicator Relative Strength Index (14) indicator moves above 40-level.

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Bitcoin Price Prediction: BTC/USD Retests $34,800 High

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Jun 22 2021

Dogecoin Price Hits $0.176 after a 22% Dip – Where to Buy DOGE

Altcoins are having a hard time recovering, with the majority of them deep in the red zone. One of the worst-hit tokens is dogecoin, which has lost 22% in the past 24 hours.

In the past month, DOGE has lost nearly half of its value. However, those who invested at the beginning of the year are still in profit since the token’s current price is almost 7,000% higher than what the coin was trading at the beginning of the year.

At the time of writing, DOGE had sunk below critical $0.20 support levels and traded at $0.176 on major exchanges.

Dogecoin Price Analysis

It seems that DOGE’s glorious days may be coming to an end. The meme coin gained popularity after Elon Musk affiliated himself with it and promoted it on his Twitter account. However, Musk is yet to come to the rescue of DOGE this time round. His silence comes weeks after a threatening video by the Anonymous hacker group was released, criticizing him for misusing his power over the crypto market.

DOGE Price Analysis 22 June 2021 — Source: TradingView

The chart above shows how dogecoin has been performing this month. The highest downtrend for the token started this week, as can be seen above, which could be attributed to the lack of support from the broader crypto market. After BTC sunk to almost $31,000 at the beginning of the week, altcoins followed suit and dogecoin was not spared.

Dogecoin needs to push past $0.20 to prevent a further retreat. Currently, the meme coin is on the verge of losing its coveted position among the top ten cryptocurrencies. Losing its space could be devastating for the token.

Dogecoin holders are urging Elon Musk to step in and save the meme coin from any further turmoil. However, his silence on the matter could indicate that the billionaire is keeping his sentiments about the crypto market to himself ever since he was accused of manipulating the market and misusing his power in the sector. However, not all is lost, and we may see the CEO tweeting about his favourite coin soon.

The current price movement could be because of a market correction, given the coin’s massive gains. However, it is worth noting that DOGE’s price gains merely resulted from investor demand. If the token gains practical adoption for use in the real world, such as in global financial systems, its value will definitely shoot.

Dogecoin has a strong community of fans compared to other cryptocurrencies, which is one of DOGE’s strengths that will help it with its long-term value. Due to its growing fan base, dogecoin has been accepted as a payment method for Wag, a dog-walking app. An increase in use-cases for DOGE will boost demand and hence value.

How to Buy DOGE

To purchase dogecoin, you need to create an account on a crypto exchange. One of the exchanges that support DOGE is eToro. The exchange is highly secure and reliable. Besides, its trading fees are highly competitive, and it offers a wide array of outstanding features for new investors. In addition, the exchange is among the few that offer copy trading, and if you have never traded crypto before, the exchange will provide you with a demo account where you can learn.

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Dogecoin Price Hits $0.176 after a 22% Dip – Where to Buy DOGE

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Jun 15 2021

Synthetix Price Reaches $10.28 after 1% Uptrend – Where to Buy SNX

Synthetix is a protocol that allows the trading and issuing of synthetic assets on the Ethereum network. The Synthetic protocol is powered by the SNX token, which has created a space for itself in the rapidly growing crypto market. At the moment, SNX is stabilizing in its value. At the time of writing, the SNX token is trading at $10.28, a 1% gain in value.

SNX Price Analysis

Looking at the chart above about SNX, it is clear that the token has not been doing well since May. The May crash led to a decreased token value, and SNX has since been unable to recover. However, the coin may soon push past the bears, and it may increase to higher values.

SNX still needs overwhelming support from the broader cryptocurrency market because it is one of the factors that will boost its value. Following the recovery of bitcoin, altcoins seem to be recovering, and it remains to be seen whether SNX will pick up the trend. DeFi projects have been shaping the crypto market, and with Synthetix venturing into the sector, it may create a strong future for the token.

The candlestick chart above shows that in the past 24 hours, the token has created an inverted hammer, which indicates that the coin will create a bearish trend in the coming days. For the token to resume a bull trend, it needs to push past higher resistance levels. If it manages to reach $15, it will create a buy from retail investors who want to leverage profits. However, the coin will need overwhelming support for it to reach $15.

Synthetix gained popularity in April this year when the platform allowed its users to trade leading stocks belonging to tech companies. The news was received gladly by traders who wanted to gain exposure to crypto trading when they were at a lower risk of enjoying returns.

Where to Buy SNX tokens

To buy SNX tokens, create an account on any of these exchanges:

eToro makes it possible for you to buy tokens that you can easily sell. The exchange is highly reputable because of its unique set of features. Furthermore, it also allows copy trading so that new traders can copy the trading strategies of seasoned traders in the crypto market.

The other cryptocurrency exchange that supports SNX is OKEx. The exchange offers competitive trading fees that make it easy for new traders to maximize profits. The exchange is also supported in many countries.

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Synthetix Price Reaches $10.28 after 1% Uptrend – Where to Buy SNX

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