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MSRise Releases the MSR Falcon Miner Prototype

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MSRise officially released the MSR Falcon miner prototype, one of the most energy efficient miner in the world. It is expected that their mining equipment will be at least than 4 times more effectively by the criterion of TH/s per 1 kWh of consumed electrical energy than the best existing samples from Halong Mining, today`s leader in energy efficiency of mining. MSR Falcon has hashrate 39 TH/s, installed capacity 800 W and relative energy efficiency at a temperature of 25℃ 20.5 J/TH. This is almost a finished product, which passed all the tests and showed the expected performance with an Source: https://bitcoinsinireland.com/msrise-release-msr-falcon-miner-prototype/

Blockchain

Ripple price falls to $0.244, what’s next?

Ripple price follows the market trend to falling to $0.244 low. Analyst expects a drop to $0.21 mark before another rise. Mixed market sentiment and bearish market are main contributing factors. The Ripple price line fell bearish after testing the Exponential Moving Average (EMA) on the 20th of September. The price slipped below the $0.244 […]

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  • Ripple price follows the market trend to falling to $0.244 low.
  • Analyst expects a drop to $0.21 mark before another rise.
  • Mixed market sentiment and bearish market are main contributing factors.

The Ripple price line fell bearish after testing the Exponential Moving Average (EMA) on the 20th of September. The price slipped below the $0.244 mark by the evening. The market is expected to rise, and Ripple price with it.

1-Day Ripple price analysis

The price approached the day’s high of $0.254 US Dollars by noon on the 19th of September. The cryptocurrency traded at $0.24596 US Dollars on Bitstamp, at the time of writing. Whereas, the day’s low was observed at the $0.243 mark.

XRPUSD technical indicators

The Trading View analyst Ronin is of the opinion that the cryptocurrency is currently undergoing a wave trading pattern. Per the crypto analyst, the price will now fall towards the $0.21 level to complete the 5th wave of this trade.

Currently, the cryptocurrency appears to be testing the EMA marked in orange. The technical indicator may cause the cryptocurrency to be pushed back and fall towards the $0.21 support level. Per the chart above, the cryptocurrency’s trade volume has been decreased ever since the start of September.

The Relative Strength Index (RSI) stands near 45.00, which means that the technical indicator is in a neutral zone. The Moving Average Convergence Divergence (MACD) line appears to be moving above the signal line, while the Histogram is decreasing in the positive region.

What’s next for Ripple?

The Trading View analyst Saeed believes that the XRP price will see an uptrend towards the $0.28 resistance, which will then be followed by a price fall towards the $0.21 mark.

Per the analysis, the cryptocurrency trades inside a falling wedge pattern. The XRP price fell below an ascending trend line marked in the chart above. The recent accumulation above the $0.24 level may allow the cryptocurrency to rise towards the ascending trendline. For this ascension, the XRPUSD pair will have to break above the falling wedge pattern and test the rising trend line. The analyst believes that the resistance will be strong enough to cause the cryptocurrency to fall down towards the $0.21 support level.

What to expect from the XRP price?

The Trading View analyst Vince Prince has stated that the XRPUSD trading pair is under an overall bearish bias while it trades inside of an ascending channel.

The cryptocurrency recently made its way towards the back-up-cluster near the lower ascending trendline of the trading channel. Per the analyst, the XRPUSD pair has bounced from this cluster, which means that the cryptocurrency will now make its way across the midpoint of the ascending channel and towards the upper ascending trendline. If the cryptocurrency, at any point, breaks below the ascending channel, the price will fall in the bearish zone. This is why the cluster region is important for XRP to hold.

If Ripple closed above the 400-Day EMA (green), the price will have more room to move towards the upside and test the upper trendline. However, the ascending channel may eventually result in a bear flag for Ripple, which means that the cryptocurrency is still in a bearish bias. For now, the XRPUSD pair is expected to test the higher levels if it holds the $0.248 support.

Disclaimer: The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Blockchain

Litecoin price drops to $46.5, what to expect?

Litecoin price analysis unable to sustain the $48 high. Litecoin briefly sees $49 high, losing strong support for $48. Analyst believe, Litecoin price to show a reversal. The Litecoin price line observed price continuation over the $48 mark on the 19th of September. Grevling is a Trading View analyst who believes that the LTC price […]

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  • Litecoin price analysis unable to sustain the $48 high.
  • Litecoin briefly sees $49 high, losing strong support for $48.
  • Analyst believe, Litecoin price to show a reversal.

The Litecoin price line observed price continuation over the $48 mark on the 19th of September. Grevling is a Trading View analyst who believes that the LTC price will soon test the resistance level near $57.

1-Day Litecoin price analysis

Litecoin traded at $46.96 US Dollars at the time of writing on Bitstamp. The cryptocurrency observed the day’s high at $49.01 US Dollars on the 19th of September.

What’s next for Litecoin?

The Trading View analyst Grevling is of the opinion that the LTC price will break above the descending triangle pattern soon. The breakout is expected to lead the cryptocurrency towards the $57 mark.

The cryptocurrency has been trading inside the descending triangle from the 12th of September. Once the LTC price breaks above this descending triangle, it will turn bullish and rise towards the $56.90 resistance level. The crypto analyst believes that the LTCUSD trading pair will test the resistance twice before it can finally break out the third time. This trade is a long-term trade for the cryptocurrency.

A confirmation of the breakout above the $56.90 mark will allow the cryptocurrency to eventually rise towards the $84.73 level.

Will Litecoin observe a double bottom pattern?

The Trading View analyst Utku Yucel believes that the LTC price may depict a double bottom pattern soon. The analyst highlighted the cryptocurrency’s trade inside a triangle pattern on the 1-day chart for the LTCUSD trading pair.

The cryptocurrency approached this triangle pattern in March 2020, while it has been trading closer to the ascending support line (blue) until the price turned bullish in August. The cryptocurrency tested the descending resistance (red) of the triangle pattern on the 17th of August.

Currently, the price has returned to the ascending trendline. The analyst believes that this touchdown of the cryptocurrency at the lower boundary of the trading pattern may complete a double bottom pattern. The double bottom pattern is a bullish sign, and it will lead to a bullish convergence for the LTC price. The price line may bounce off the trend line after completing the double bottom pattern and move towards the descending trendline to observe a breakout.

The analyst suggested traders observe the Exponential Moving Average (EMA) in order to be aware of the cryptocurrency’s trading trend. The Relative Strength Index (RSI) lies in the neutral zone at 42.43 on the 1-day time frame. A breakout above this triangle pattern will leave the cryptocurrency in a bullish state.

What to expect from the LTC price?

The Trading View analyst Harison is of the opinion that Litecoin is currently in the accumulation zone, and that the cryptocurrency is expected to see a significant increase in its price over the long-term trade.

On the 4-hour chart, the analyst drew some nested triangle patterns. The cryptocurrency trades in a triangle pattern, which lies in a bigger ascending triangle pattern. On the 20th of September, the cryptocurrency slipped below the descending triangle. If the price moves below the important support structure between the $46 and $47 levels, then LTC may turn bearish per the chart above. The target price for this trade lies at $56.96.

Disclaimer: The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Top 5 cryptocurrencies to watch this week: BTC, NEO, XMR, ADA, LINK

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The total crypto market capitalization has recovered from the Sep. 6 lows near $314 billion but it is struggling to sustain above the $350 billion mark, which shows that higher levels continue to attract sellers.

Bitcoin’s (BTC) dominance fell from above 68% in mid-May to about 56% in the first half of this month as DeFi tokens embarked on a strong bull run. 

However, in the past few days, the DeFi assets have witnessed sharp corrections and their volatility has increased. This could possibly shift traders’ attention back to Bitcoin. It’s also possible that Bitcoin’s inability to hold above the $11,000 level could also be negatively weighing on the confidence of altcoin and DeFi-token traders.

Crypto market data daily view

Crypto market data daily view. Source: Coin360

Although Bitcoin has been struggling to find momentum, a positive is that the volume of Bitcoin futures trading on Bakkt has been increasing and the exchange whale ratio is near yearly lows. This suggests accumulation by the whales and institutional traders.

Currently, most major cryptocurrencies are not following a general trend as the price action has been mostly coin specific. This has opened up opportunities both on the short side and the long side. Hence, in today’s list, two short ideas have been discussed for the traders who are bearish on the crypto markets.

BTC/USD

The relief rally in Bitcoin is facing stiff resistance near the 50% Fibonacci retracement level of $11,147.60. This shows that the bears have used the current relief rally to initiate short positions.

BTC/USD daily chart

BTC/USD daily chart. Source: TradingView

If the bears can sink the price below the uptrend line and the $10,625 support, it will signal weakness. If the BTC/USD pair sustains below $10,625, it will increase the possibility of a retest of $9,835.

However, if the pair rebounds off the $10,625 support sharply, this will be the first sign that the correction might be over. Trading momentum is likely to pick up after the rally breaks above the downtrend line.

If the price closes (UTC time) above the downtrend line, the possibility of a rally to $12,460 increases. Even though there is resistance at $12,000 it seems likely that it will be crossed.

BTC/USD 4-hour chart

BTC/USD 4-hour chart. Source: TradingView

The pair is currently attempting to rebound off the uptrend line, which suggests that the bulls purchased the dip to this support. The buyers will now make one more attempt to push the price above the $11,147.60 resistance.

If the bounce fizzles out and the bears sink the pair below the uptrend line, a drop to $10,625 could occur. This is an important support for the bulls because selling is likely to intensify if this level breaks down.

If the pair rebounds off $10,625, a few days of range-bound action is possible. The flattening moving average on the 4-hour chart suggests a balance between supply and demand. 

NEO/USD

NEO is currently facing stiff resistance at $25.23, which shows that the bears are aggressively defending this resistance. However, as it is in an uptrend, traders are likely to view the dips as a buying opportunity. 

NEO/USD daily chart

NEO/USD daily chart. Source: TradingView

The immediate support on the downside is at $23 and below that at the 10-day simple moving average ($22.26). If the NEO/USD pair rebounds off either support, it will indicate that the bulls are not waiting for a deeper fall to buy which is a positive sign.

If the bulls can push the price above the $25.23–$25.78923 resistance zone, the uptrend is likely to resume. The next target on the upside is $29.

A break below the 10-day SMA will be the first sign that the momentum is weakening and a drop below $20.9633 will signal a possible change in trend.

NEO/USD 4-hour chart

NEO/USD 4-hour chart. Source: TradingView

The 4-hour chart shows that the bulls pushed the price above the $25.23 resistance twice but they could not sustain the higher levels. This shows that the bears are attempting to stall the rally at this resistance. 

However, on the downside, the bulls have not allowed the price to sustain below $23, which shows that the buyers are accumulating on every minor dip. 

This could keep the pair stuck between $23 and $25.50 for a few more days. The moving averages have flattened out, which suggests a balance between supply and demand. 

XMR/USD

The recovery in Monero (XMR) from the Sep. 5 low of $74.1012 has been strong and the bulls have pushed the price back above the moving averages, which increases the possibility that the correction might be over. 

XMR/USD daily chart

XMR/USD daily chart. Source: TradingView

However, the bears are unlikely to give up without a stiff fight at the $97.4615 resistance. If the XMR/USD pair turns down sharply from the current levels and breaks below $84, a drop to $74.1012 is possible.

Conversely, if the bulls can arrest the next dip at the 20-day exponential moving average ($89), it will increase the possibility of a breakout of $97.4615. Above this resistance, a move to $105.9131–$107.3742 is possible. A break above $107.3742 can result in a rally to $120.  

XMR/USD 4-hour chart

XMR/USD 4-hour chart. Source: TradingView

The 4-hour chart shows that the recovery from $74.1012 has been gradual. Although the bears broke the pair below the 30-EMA on several occasions, they could not capitalize on it and intensify the selling. 

This shows that the bulls are accumulating on dips. Currently, the price has again dipped back below the 30-EMA. If the pair rebounds off the current levels, the bulls will try and drive the price above the overhead resistance at $97.4615.

The short-term momentum is likely to weaken if the bears can break and sustain the price below the immediate support at $87.5629. 

ADA/USD

The relief rally in Cardano (ADA) from the lows of $0.0855982 on Sep. 6 hit a stiff resistance at $0.0997444 on Sep. 13. The moving averages are sloping down, which suggests that the bears are in command.

ADA/USD daily chart

ADA/USD daily chart. Source: TradingView

In a downtrend, the bears short on pullbacks to resistance levels as that improves the risk to reward ratio of the trade. Currently, if the bears can sink the ADA/USD pair below the $0.0855982 support, the decline might resume.

Traders can consider taking positions on the short side with an appropriate stop-loss to benefit from the likely down move. The next support on the downside is at $0.074 but if this support fails to hold, the drop can extend to $0.05. 

This bearish view will be invalidated if the pair rebounds off $0.0855982 and the bulls drive the price above $0.10. Such a move will suggest that the downtrend might be over. 

However, it is not necessary that a new uptrend starts as soon as a downtrend ends because many times, the price remains range-bound as it tries to form a bottom. 

Therefore, traders can step aside and wait for a new bullish setup to form if the price breaks above $0.10.

ADA/USD 4-hour chart

ADA/USD 4-hour chart. Source: TradingView

The 4-hour chart shows that the pair has been gradually declining towards the critical support at $0.0855982 and a close (UTC time) below this level is likely to start the next leg of the down move.

However, if the pair rebounds off $0.0855982, the bulls will make one more attempt to propel the price above $0.10. If they succeed, a quick relief rally is possible.

Conversely, if the price again turns down from $0.10, the pair might remain range-bound for a few days.

LINK/USD

Chainlink (LINK) is in a downtrend and it has been making a lower high and a lower low pattern for the past few days, which shows that the bears are using the relief rallies to sell. 

LINK/USD daily chart

LINK/USD daily chart. Source: TradingView

The down sloping moving averages suggest that the trend favors the bears. If they can sink the LINK/USD pair below $9.65, a drop to $9 is likely. This is an important support to watch out for because a break below this level is likely to resume the downtrend.

The next support on the downside is $7. Therefore, traders can consider benefiting from the possible down-move.

This bearish view will be invalidated if the pair turns up from the current levels or rebounds off sharply from the $9 levels and breaks above the downtrend line. 

LINK/USD 4-hour chart

LINK/USD 4-hour chart. Source: TradingView

On Sep. 5 and 6, the bears were unable to sustain the price below $10.50, which shows that the bulls were attempting to defend this level. 

However, during the current fall, the price has been sustaining below $10.50 for the past two days, which suggests that the buying has dried up.

The moving averages are sloping down gradually and the price is below the averages, which suggests that the advantage is with the bears.

A break above the 30-EMA will be the first sign that the bears are losing their grip. Until then, the path of least resistance is to the downside. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Source: https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-neo-xmr-ada-link

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