Bainance coin Analysis (BNB) Wednesday, March 10

Bainance coin Analysis (BNB) Wednesday, March 10

After forming a support base above the $ 200 level, Bainance coin started a new upward trend. The BNB has broken the $ 220 resistance and recently crossed the $ 250 resistance area.

This paved the way for a Sharpe rally above the $ 275 and $ 285 resistance levels. BNB traded at $ 297 and is currently undergoing correction. Following this correction, the BNB price fell below the correction level of 23.6% Fibonacci uptrend from $ 214 to $ 297.

The currency is still trading above $ 260 and a simple moving average of 100 (4 hours). The cows are strongly protecting the $ 265 and $ 260 support levels. The next major support is near the $ 255 level, which is near the 50% Fibonacci retracement level of the $ 214 to $ 297 uptrend.

The BNB / USDT 4-hour chart shows a major uptrend with support around $ 245. In the uptrend, cows face significant barriers near the $ 285 and $ 290 levels. The main resistance is still close to the $ 300 level, and above that, the BNB is likely to accelerate further in the short term.

If the BNB fails to reach levels above $ 285 and $ 295, it will face a new downtrend. In this case, the first major support is close to the $ 255 level.

The next major support will be close to the $ 245 level and the trend line. If the price falls below the support line of the trend line, there is a possibility that the price will fall to the support area of ​​$ 220.

Technical indicators

The hourly MACD for the BNB / USD pair is gradually accelerating in the uptrend.

The hourly RSI for the BNB / USD pair is above the 50 level.

Main support: $ 265, $ 255 and $ 245

Main resistance: $ 285, $ 295 and $ 300

Atrium Analysis (ETH) Wednesday, March 10

Atrium Analysis (ETH) Wednesday, March 10

Ethereum is currently on an upward trajectory. The currency was able to overcome the resistance of $ 1850. This Ethereum (ETH) traded at its highest monthly price close to the level of $ 1880 and was just above the simple moving average of 100 (hourly).

Recently, ether started a slight downtrend and traded below the support level of $ 1825. At some point, the price of ether below the correction level of 23.6% Fibonacci broke the uptrend of $ 1649 to $ 1882. Ethereum is now trading below $ 1,800, but is still above the 100-hour moving average.

Ethereum is now testing the $ 1,765 support area. The ETH / USD's hourly chart also shows a major uptrend line with support around $ 1775. The trend line is close to the 50% Fibonacci retracement level of $ 1649 to $ 1882.

In the uptrend, the $ 1800 level is a short-term resistance. The first major resistance is near the $ 1825 level. A break above $ 1825 and $ 1850 could pave the way for the $ 1880 and $ 1900 levels.

If Ethereum fails to continue its uptrend above the $ 1800 and $ 1825 resistance levels, it is likely to face a downtrend. In this case, the first major support near the trend line is at $ 1865.

Currently, the main support is forming near the level of $ 1725 and the simple moving average of 100 (hourly). If the price falls below $ 1725 support, ether may fall to the level of $ 1650.

Technical indicators

The hourly MACD for the ETH / USD pair is gradually accelerating in the downtrend.

The hourly RSI for the ETH / USD pair is below the 50 level.

Main Support: $ 1725

Main resistance: $ 1825

Cardano Analysis (ADA) Wednesday, March 10

Cardano Analysis (ADA) Wednesday, March 10

Matt Cardano Digital has taken a low-swing trend after crossing the border of the regular triangle pattern. According to this model, Cardano has a goal of $ 1.56.
According to the IOMAP chart, Cardano is on the rise in the absence of strong resistance. However, the $ 1.15 to $ 1.18 resistance range is particularly important. In this price range, over 2.1 billion Cardanos have been purchased by 38,250 user accounts.
Prices are currently above the level of a significant self-stabilization support. According to the IOMAP chart, about 147,000 accounts have purchased 5.1 billion of these digital currencies in the $ 1.11 to $ 1.15 range.

Looking at the four-hour timeframe, we notice the formation of a regular triangle pattern and its breaking. According to this pattern, the price is likely to grow by 34% to $ 1.56. Despite the breaking of this pattern, the uptrend of stability is still not formed. On the other hand, stabilizing the high price of moving average indicators is necessary to form an uptrend.
Similarly, if the MACD indicator is above the signal line, then the $ 1.56 target can be predicted with more confidence.
On the other hand, if the price penetrates below the levels of 50 and 100 moving average indicators in the four-hour time frame, a downward trend is formed and if the price returns to the triangle pattern range, one can expect a further fall in price.

5cryptocurrencl currencies to watch this week - Monday, March 8

5 cryptocurrency currencies to watch this week

 
Bitcoin Fund Indicators (BTC) strengthened after the US Senate passed a $ 1.9 trillion support package bill on March 7. If traders' reaction to the bill is similar to that of April 2020, then cryptocurrencies could see another powerful rally.

This stimulus package increases the focus on the devaluation of the US dollar. According to Peter Brent, these concerns could lead some investors to turn their assets into hard or bitcoin assets instead of keeping them in Fiat currencies.

In addition to investors, a growing number of large companies are deciding to protect their Fiat reserves by buying bitcoins. Following the acquisition of significant amounts of bitcoin by reputable companies such as Microstrategy, Tesla and Square, a Chinese company called Meitu has now announced that it has added $ 40 million in bitcoin and ether to its assets.

If other companies around the world follow these steps and invest part of their treasury reserves in Bitcoin, there will be a kind of imbalance between supply and demand, and as a result, prices will skyrocket.

In the continuation of this discussion, we will examine the charts of the top 5 cryptocurrencies of the week that may resume their upward trend in the short term.

BTC / USD

On March 5 and 6, Bitcoin fell below the 20-day moving average (at $ 48,484), but the long tail on each candlestick indicates that buyers are ready to buy at lower levels. The bulls (buyers) are currently pushing the price towards the upward resistance of $ 52040.

While the 20-day moving average is flat, the Relative Strength Index (RSI) has begun to rise to a high of 58, indicating cows trying to return.

If buyers can push the price above this resistance, the BTC / USD pair may once again touch the $ 58341 record. Breaking this level could start the next stage of the uptrend, which may continue up to $ 71,212.

Contrary to this assumption, if the price falls from this upward resistance and falls below the level of $ 46,313, the price of this pair may fall to the average of the 20-day moving average at the level of $ 42861. This level is likely to act as a strong support.

If the pair returns from this support level, they may spend a few more days in the consolidation phase. But if the bears push the price below $ 41,959.63, traders may be in a hurry to exit, which could lead to a possible change in the bitcoin movement.

In the pair's 4-hour chart, a reverse head and shoulder pattern is formed, which is completed by the breakout and closing of the price at the level of $ 52040. This uptrend has a $ 61075 target.

20-EMA has started to rise and the RSI has reached above the level of 62, which indicates a slight advantage for the cows.

If the price falls below current levels or the resistance overhead breaks the $ 47,000 minister, this uptrend will lose its credibility. Such a move could pave the way for further support at $ 41959.

UNI / USD

After a three-day consolidation period near the $ 29 level, UNI broke the upward resistance yesterday. If the cows can keep the price above $ 29, the outlook for the resumption of the uptrend is strengthened.

Both moving averages have an uptrend, and the RSI is in the buying saturation zone, indicating that the cows are in control. If the UNI / USD pair rises above $ 33, the next price level to look out for is $ 38 and then $ 46.

If the price falls below the current level and falls below the 20-day moving average ($ 25.31), this uptrend will be invalidated. In such a situation, the pair may fall to the level of $ 22 and then the simple 50-day moving average ($ 19.78).

The pair's 4-hour chart shows that the bears are likely to strongly defend the $ 32 upstream resistance. However, if the cows do not allow the price to fall below 20-EMA, it will indicate their strength. A break above the $ 32- $ 33 price range could kick off the next phase of the uptrend.

If the price falls below the 20-EMA, this uptrend will be invalidated. Such a move would indicate that traders are taking action to raise profits when prices rise. After that, the pair could fall to 50-SMA.

THETA / USD

The THETA cryptocurrency is currently in a strong uptrend. Although the price of this Altcoin fell on March 7 (March 17), but the long tail on the candle on March 8 (March 18) shows the purchase at low price levels. Corrections in a strong uptrend usually take one to three days, after which the main trend resumes.

 

Moving bullish averages and the RSI being close to the buy saturation zone indicate that the cows are in control of the market. If buyers are able to push the price above $ 4.72, the THETA / USD pair may resume its uptrend to $ 5.73.

Conversely, if the price falls from $ 4.50 to $ 4.72 above the resistance area, it is likely to fall to the 20-day moving average ($ 3.58). The return of the price from this support level shows that because the cows continue to buy this currency when the price falls, the positive sentiments of the market remain strong.

If the bear pulls the price below the 20-day moving average, a deeper correction to the 50-day moving average ($ 2.82) is possible. Such a move indicates a momentary weakening of the currency and may delay the resumption of the uptrend.

The 4-hour chart of the THETA / USD pair shows that the 20-EMA is rising and the RSI is in the positive zone. If the bulls can push the price above the downtrend and keep it at the same level, the pair may touch the $ 4.72 level again. The defeat of this resistance can start the next stage of the uptrend.

On the other hand, if the price continues to correct, it will probably find good support in 20-EMA. In this situation, the cows are again trying to bring the price to levels above the downtrend line. However, a break below the 20-EMA could push the price down to $ 3.85.

VET / USD

Vicin is currently limited in the range of $ 0.0345 to $ 0.060774. The price had reached the resistance level during this period, but yesterday's long wick of the candle shows a profit reservation near the level of $ 0.060774.

However, the moving averages have an uptrend, and the RSI is in the positive zone, indicating that the path with the least resistance is an uptrend. If the bulls can move the price above the level of $ 0.060774 and maintain that level, the VET / USD pair can start the next stage of its uptrend.

The first target in this uptrend is $ 0.087048 and if it crosses this level, the pair may reach $ 0.10.

Contrary to this assumption, if the price falls below the current level, the VET / USD pair is likely to fall to the 20-day moving average ($ 0.047). The return of this support shows that the uptrend remains unchanged, but a break below this support may be followed by price movements in a limited range.

 Cows have not yet allowed prices to fall. If the pair returns from the 20-EMA, the cows will once again try to push the price above the resistance level.

If they can keep the price above $ 0.060774, the next stage of the uptrend may begin. However, if the price falls below the 20-EMA, the selling pressure is likely to intensify and the price will fall until further support at the 50-SMA.

LUNA / USD

Over the past few days, the Terra Token (LUNA) has been consolidating in the range of $ 5 to $ 8.50. Both moving averages have an uptrend, and the RSI is located near the buy saturation zone. This fact shows that the path with the least resistance is the ascending path.

On March 5, the cows were able to push the price above this level, but with this price failure, the upward movement did not continue and on March 6, the price of LUNA fell below $ 8.50. This indicates that demand has declined at higher levels.

However, if the cows do not leave the field, they indicate that traders are waiting to buy at lower price levels. In the event of such an event, buyers may try again to start the next phase of the uptrend. If successful, the LUNA / USD pair could approach the $ 12 level.

Long wicks on candlesticks above $ 8.50 indicate a higher profit margin. The cows are also currently trying to defend the 20-EMA. If the price returns from the current level, buyers will try again to resume the uptrend by pushing the price to higher levels of resistance above $ 8.50 to $ 9.

Conversely, if the bears can pull the price below 20-EMA and keep it there, the pair may reach 50-SMA. If the price returns from this level, the LUNA / USD pair is likely to consolidate in the upper half of this range for some time. The price drop below the simple moving average of 50 indicates the fact that the price may be in the range of $ 5 to $ 6.

17% of the world's bitcoin reserves have not been moved for more than 7 years

17% of the world's bitcoin reserves have not been moved for more than 7 years

The Unfolded database announced yesterday that a high percentage of the world's bitcoins have not been traded for more than seven years. This data is extracted by the "HODL Wave" indicator, which is a practical tool in the analysis of chain data on the Glassnode website.

This indicator tracks the time between bitcoin transactions, giving an in-depth look at how long that bitcoin has been stored at an address before being moved across the network. The indicator is named after a popular post on the Bitcointalk forum that told bitcoin holders in 2013 to hodl their bitcoins and not sell them. .

The HODL Wave indicator shows that more than 3.3 million bitcoins have not been transferred on the network for more than 7 years. This amount of bitcoins is equal to 17.87% of the total bitcoins in circulation in the world and their value is estimated at the current price of bitcoins of about 160 billion dollars.

These bitcoins do not necessarily belong to whales. Large quantities of these bitcoins have been lost in recent years due to accidental deaths or password forgetfulness.

"Many of these wallets belong to people who bought or mined bitcoins at very low prices and then extracted them," said YIELD App CEO Tim Frost in a note. They are lost and do not have access to it. "Until 2013, many saw bitcoin as a monopoly currency and had no vision for the future and what bitcoin could become."

Last year, a report was published by the Chainalysis website that reported a slightly higher number of bitcoins lost in smaller timeframes. It reported that approximately 3.7 million bitcoins in the world (20% of circulating bitcoins) had not been traded for 5 years. The same report also noted that 3.5 million bitcoins worldwide are actively traded on the open market, while 11.4 million bitcoins are held as long-term investments in Chinese blockchain addresses.

However, Tim Frost believes that it is possible to provide access to these bitcoins to their owners. "These wallets are like hammers that can hit the market at any moment."

But this issue can also be traced. Glassnode has another indicator called Coin Days Destroyed that moves upwards when an old bitcoin is moved over the network.

As we can see in the chart above, in late 2018 and 2019, we see that the old currencies in the network have been transferred to the network for the first time and after a long time. We see such activity now and in 2021, but the level of these activities is almost the same and has not increased.

Dogecoin Analysis (DOGE) Wednesday, March 4

Dogecoin Analysis (DOGE) Wednesday, March 4

Following the fall of the Dogecoin digital currency this month, buyers are trying to form a corrective trend. However, we are seeing a slight volatility in the Dogecoin price.
On the other hand, by drawing two trend lines in a four-hour time frame, a regular triangle pattern is formed. If this pattern is broken from any side, an ascending or descending trend will be formed.
If the pattern breaks, the Dodge Quinn will rise 38% to $ 0.07. However, buyers should be able to push the price above the levels of the 100 and 200 moving average indicators in the four-hour time frame.

Another factor that has increased the probability of price growth is the uptrend of the MACD indicator. According to this indicator, the MACD line has reached the top of the signal line. This triggered a buy signal by the MACD.
On the other hand, the number of new daily addresses that are added to the network of this digital currency has now reached 42,000 after reaching 33,000 on February 23rd. The growth and expansion of the Dogecoin network is an important fundamental factor for price growth.

On the other hand, looking at the four-hour time frame, we see that the 50 moving average indicator in the range of $ 0.05 plays the role of a support. If the price penetrates below the level of this indicator, the price will fall to the downtrend line of the triangle pattern, and if this level is broken, we will see a strong downtrend to the target of $ 0.03.

An overview of the cryptocurrency market Wednesday, March 3

An overview of the cryptocurrency market Wednesday, March 3

Following a sharp drop that pushed the price of Bitcoin to $ 47,000, the currency traded back at $ 50,000. The Altcoins market is also mostly green today.

Bitcoin crossed the $ 50,000 resistance

After a sharp drop last week that brought Bitcoin below $ 43,000, the currency is slowly showing positive reactions as a new path opens up for the cows.

As reported yesterday, Bitcoin even broke the $ 50,000 level for a short time but could not maintain its momentum. The rejection of the price caused the currency to fall again and fall to the level of $ 47,000 (in Bitstamp).

Since then, Bitcoin has returned to this level once again, rising by about $ 3,000 to about $ 50,000. At the time of writing, Bitcoin is trading at $ 51477.

Technical indicators of the currency show that this particular price level is the first major resistance line in the uptrend of Bitcoin, so that BTC can cross the resistance levels of $ 52,500 and $ 55,000 after crossing this level.

If the price is rejected again, the support levels of $ 47,200, $ 46,600 and $ 44,750 can help.

Atrium reached $ 1,600

Most altcoins also saw unfavorable price movements last week, but were revisited in the last few days. Atrium, which has fallen to $ 1,300, has jumped nearly $ 300 since then and is now close to $ 1,600.

Cardano's 2% increase helped ADA remain third in the market value of digital assets. BinanceQueen (1%) and Ripple (2.5%) are also green in 24-hour timeframes. China Link has increased its value by 6% since yesterday and is currently priced above $ 30. The Polkadat also jumped 6.5 percent to trade at $ 38.

Nevertheless, Light Coin showed the most significant growth among the top ten currencies with a 12% increase. As a result, LTC is approaching the $ 200 mark.

Among the low and medium market value altcoins, the Energy Web Token had the best performance with 32% growth and reaching the $ 18 level. Ocean Protocol (22%), NEM (19%), Basic Attention Token (19%), Enjin Coin (18%), Phantom (13%), Decentraland (12%) and Ontology (11%) are next. they take.

Finally, the total cryptocurrency market capitalization remains above $ 1.5 trillion.

Bitcoin entered its lowest month

Bitcoin entered its lowest month

Following the formation of a badly shaped weekly candle, the world's largest digital currency must now prepare for further losses. Does March 2021 follow the rules?

Bitcoin saw its worst results in March

According to observations from 2012 to 2020, Bitcoin and March do not have a good relationship with each other. An anonymous analyst and trader on Twitter called Bitdealer_on provided statistics on Bitcoin monthly candlesticks.

His calculations show that January, March, August and September are negative average yield months. March and September typically reduce the price of bitcoin by 5.8%.

The worst bitcoin drop, also known as Crypto Black Thursday, also occurred in March: March 13, 2020.

That day, the Quinn fell more than 51% in 24 hours.

The crypto and fear index came closer to the 6-month low

In addition, in the first bitcoin rally, the currency rose 179 percent in March, its second largest monthly candlestick.

Today, March 1, the moon market has started with different emotions. Bitcoin, on the other hand, has returned slightly from its 27 percent drop, and now cows are holding back bears.

At the same time, the general sentiment of the market has entered the area of ​​"greed". According to the crypto and fear index, this criterion has reached a level not seen since September 2020.

At the time of writing, this criterion is 38 out of 100, which means fear. The last time the index fell so low was when Bitcoin tried to cross the $ 10,000 level.

An overview of the cryptocurrency market today Sunday, February 28

An overview of the cryptocurrency market today Sunday, February 28

After a relatively positive day, Bitcoin fell again below $ 44,000 to its lowest price since February 10, 2021. The situation in the Altcoin space worsened with double-digit declines. The crypto market value fell another $ 120 billion to $ 1.350 trillion.

Bitcoin falls below $ 44,000

The market's top cryptocurrency showed little signs of improvement in yesterday's trading session as it rose to around $ 4,000. However, this positive performance did not last long, as the bears regained their full strength.

At the Bitstamp exchange, in the following hours, the price of bitcoin began to fall, leading to a drop to $ 43,782. At the time of writing, Bitcoin has jumped slightly to around $ 42,500.

As a result of these developments, the market value of BTC continues to fall. The cryptocurrency lost more than $ 200 billion last week, from about $ 1.05 trillion to $ 830 billion.

CryptoQuant data show that the recent drop in prices can be attributed to miners who have made a profit after several months of price increases. Just before the first dump, from $ 58,000 to $ 45,000, and more recently from $ 50,000 to under $ 45,000, the company has been following the massive outflow of funds from miners' wallets to exchange offices.

Blood bath among altcoins

As we usually see at the same time as the BTC price falls, the bad situation in the Altcoins market is more tangible. Atrium fell 10 percent to below $ 1,350 and has taken the lead in this unfavorable trend. Cardano (ADA), which recently showed its best performance, fell more than 12% to $ 1.2. Binary Coin (-10%) up to $ 210, Polkadat (-9%) up to $ 31, Ripple (-6.5%) up to $ 0.41, Light Coin (-10%) up to $ 160 and Bitcoin Cash (-9%) Dropped to $ 450.

Among the lower market value altcoins, PancakeSwap has reached $ 9 with a 25% price reduction. After that, Polygon (-20%), Ravencoin (-20%), Enjin Coin (-20%), Huobi Token (-19%), 1inch (-18%), IOST (-18%), Pundi X (-17%), Holo (-15%) and NEAR Protocol (-15%) are examples of currencies that have seen the most price declines since yesterday.

Finally, the total market value of cryptocurrencies fell by $ 120 billion in one day to $ 1.350 trillion.

Analysis (XTZ) Saturday, February 27

Analysis (XTZ) Saturday, February 27

Following a strong downtrend, the Tezos price was able to maintain its position above the $ 3.2 support level. A number of technical indicators indicate the possibility of a price increase of up to $ 4 in the short term.
Tezus Digital Currency has stabilized well above the $ 3.2 support level and is now ready to grow to $ 5. The first major resistance level is at $ 3.8, which if broken, will be an uptrend to the $ 5 target.

The next important resistance in the indicator range is the 50 moving average in the six-hour timeframe in the $ 4 range. The MACD indicator has been on the rise for the first time since early February. This increases the probability of the price reaching $ 5.
On the other hand, if the price fails to stabilize above the $ 3.8 level, the probability of falling to $ 3.2 has increased, which will fall to $ 3 support if this level breaks.