 
|
BTC: Price: $3,780 | MCAP: $67 billion | 24-Hr Volume: $8.97 billion
Outlook: Bullish
Bouncing up from key MA support
Bitcoin is bouncing up from the 5-week moving average (MA), validating the bullish view put forward by that ascending MA and its bullish cross with the 10-week MA – the first since August 2018.
So, a rally to the psychological hurdle of $4,000 could be seen this week, if the rebound from 5-week MA ends up clearing the weekly high of $3,807.
Supporting that bullish case is the weekly moving average convergence divergence (MACD) histogram, which is printing a strongest bullish signal in over a year. Further, the money flow index has breached the upper edge of the channel, validating the bullish divergence confirmed in December.
That said, a bullish reversal on the weekly chart would be confirmed only if the previous week's high of $4,190 is breached. On the downside, $3,658 – the low of the long-tailed doji candle created on Feb. 27 – is the level to beat for the bears.
Read Analysis
 |
|
|
|
|
SPONSOR SECTION  Zebpay is leading the Crypto Exchange industry with its declaration that trading fees are a thing of the past. Zebpay is committed to reducing all friction in the use of Cryptos and our Zero trading fee promise is a definitive step in this direction. Sign Up Free |
LOOM: Price: $0.065 | MCAP: $45.3 million | 24-Hr Volume: $8.4 million
Outlook: Bearish pullback
Pullback LOOMing Nearer
Despite being up more than 7 percent over a 24-hour period and a mid-sized green candle being printed on today's open, LOOM looks set to retrace based on overbought technicals and greater selling pressure.
The daily RSI (not shown) has hit extreme overbought, while the stochastic is slightly below overbought at 76.8 (overbought is 80).
The Chaikin Money Flow (CMF) shows that selling pressure is currently greater than buying pressure and has been the case since Oct. 10, 2018. A move above 0 in the near future would show a reversal to the current trend, but as it stands that seems out of reach with current levels of investor interest.
And with a fall in total growing (bullish) volume and a rising price on recent activity, it leaves little room for confidence in a move beyond resistances at $0.067 in the short-to-mid-term.
|
|
|  We're excited to announce the launch of the CoinDesk Dojo, a premium subscription part of StockTwits' recently announced Premium Rooms product. Ask the analysts—Omkar, Sam and Seb—questions about charts and talk with other traders looking to profit off the volatility of the crypto markets. Create an account on StockTwits and then subscribe! Subscribe Here |
|
Tether coming to TRON: 2018 was a big year for stablecoin market as it introduced several regulated alternatives like USDC and GUSD, and it looks like the trend has continued into 2019 by way of JP Morgan launching its own as well as the latest development of stablecoins coming to the TRON blockchain. It was announced on Monday that Tron and Tether, the issuer of USDT, had partnered to bring the stablecoin to the Tron network by the second quarter of 2019. The token will still be dollar pegged but programmed as Tron’s standard TRC-20 token as opposed to ethereum’s comparable ERC-20 token. While the partnership is not without controversy, given Tether has been accused of being insolvent and artificially inflating bitcoin prices, Tron is undoubtedly remaining in the public eye for project advancements while competitors like the once termed “ethereum of China” NEO seems to be fading to black.
FULL STORY
Maker Outperformed in February: February was a strong month for the entire cryptocurrency market, but none performed better than Maker (MKR), according to a monthly market summary conducted by Coinscous Labs. According to the summary, Maker concluded with the best 30-day percent gain of 85.6 percent, digital content was the best performing cryptocurrency sector boasting a 37.8 percent increase, and Augur (REP) concluded as the month’s worst performer with a 12.7 percent loss. The summary suggests Maker’s price growth was directly related to the increased use of its smart contract platform that backs and stabilizes the value of the soft-pegged stablecoin, Dai. According to the study, both MKR holders and active addresses increased 20 percent month over month so it seems clear the price growth was demand driven and not speculative or anomalous.
FULL STORY
|
THETA/USD has witnessed a "bullish pullback" in the last 24 hours as anticipated by @CoinDeskMarkets.
The cryptocurrency printed a six-day low of $0.1119 yesterday and is currently trading at $0.1280, up 1 percent on the day. The long-tails attached to Monday's candle indicates strong dip demand. So, it seems safe to say that traders who missed the previous move higher likely took advantage of the better entry levels offered by the price pullback.
With the 10-day MA still trending north in favor of the bulls and bitcoin bouncing up from the 5-week MA support of $3,703, THETA risks revisiting recent highs near $0.16.
The outlook would turn bearish if and when prices violate the bullish higher low pattern with a move below $0.1119 (previous day's low).
*Bullish pullback is the healthy correction that occurrs during an uptrend. |
DASH/BTC's daily chart is a classic case of the former resistance acting as a strong support.
The 100-day moving average, which caught highs on UTC closing basis multiple times since April, was breached on the back of high volumes on Feb. 11.
While the breakout confirmed a bearish-to-bullish trend change, a stellar rally has so far remained elusive.
That said, the 100-day MA has not become a strong support, having persistently restricted the downside over the last three weeks.
More importantly, a break above key resistance followed by a succesful defense of the former resistance-turned-support is a classic bullish signal.
DASH/BTC, therefore, could soon pick up a strong bid and rise above the recent high of 0.023 BTC. |
|
|
| Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. |
|
| | | | |
Bullish Tinge