Ripple Price Rises as new Fake Coinbase Listing Rumors Appear

There are always interesting developments to take note of in the cryptocurrency world. Right now, the XRP price is surging once again. Thanks to solid gains over the past few hours, the XRP price surpassed $1. Most of this excitement is fueled by speculation and hype, though.

XRP Price is Soaring

No one will deny the XRP price is moving up quite nicely as of right now. Its 17% gain over the past 24 hours should not be taken lightly whatsoever. As is usually the case in this industry, the current price jump is primarily fueled by hype, speculation, and expectations. That doesn’t mean Ripple is not a solid project, though, but it is evident all things need to be put into their proper perspective at all times.

This time around, it seems most people expect Ripple’s asset to be added to the Coinbase exchange. It is not the first time such rumors surface. Last time around, the information was completely bogus, eventually triggering a massive market sell-off in the process. It is not unlikely history will repeat itself in this regard.

There is no indication Coinbase will list XRP anytime soon. The company has made no official announcements as of right now. That doesn’t mean the digital asset will never find its way to this exchange in the future. For now, however, the company is seemingly not interested in dealing with XRP.  Situations like these are always subject to change, though. For now, there is no indication such a listing will occur anytime soon.

The Positive Momentum for Ripple

Although speculation fuels the XRP price right now, parent company Ripple has made positive strides. Their xRapid solution is of great interest to major remittance providers. Some of the world’s biggest names have signed up to trial this technology. It is unclear if this will lead to real-world integration in the future, but the tone is set. xRapid makes use of XRP for cross-border liquidity, thus the use cases for this asset will eventually increase in number.

Even so, it remains unlikely either Coinbase of GDAX will enable XRP trading. While anything is possible in this industry, nothing is true unless an official statement is issued by the company in question. So far, that has not happened in any official capacity as yet. With positive things happening to the company, the value of its native asset will increase eventually. Unfortunately, a lot of people want to get rich quick in cryptocurrency, which often leads to awkward price momentum.

On paper, XRP has a good chance to become a major player in terms of real-world adoption. Unlike traditional cryptocurrencies, this asset can effectively make a positive impact right now. If xRapid turns out to be a success for players such as MoneyGram and Western Union, the world of remittance will look very different very soon. That would be a much better reason for an XRP price rise compared to fake Coinbase rumors.

Subscribe to our newsletter

NewsBTC is known to conduct interviews on a regular basis, covering some of the interesting blockchain projects. This time, we came across ORS — a company with an ambitious vision for the future… to empower 1 billion new (small) entrepreneurs and enabling them to compete with big corporations. It is enabled by the use of Artificial Intelligence and Blockchain.

We interviewed Fabio Zoffi, the CEO and Chairman of the Board at ORS Group to know more about the platform.

NewsBTC: What made you want to build such a global community of entrepreneurs through technology?

Within a few decades, robots and A.I. will run almost all business and unless our children become scientists, there will not be enough jobs for a population of almost 10 billion people. Brilliant minds like Stephen Hawking are very worried that the owners of the robotic plants will not want to share the productivity gains and therefore a dystopian scenario might occur: a very few giant corporations and extremely wealthy individuals will dominate and control almost all assets. I don’t want this for my children, I envision instead a planet with billions of small, and independent companies trading and working together, coordinated through what I call the ABC building blocks of technologies: Algorithms, Blockchain, Cryptocurrency.

NewsBTC: Why that?

Fabio: Well, billions of entrepreneurs mean billions of financially independent people, free in their life and free in their mind. This network of people will create a completely new social contract, a much better one and with much less unhealthy concentration of money and power. That’s why ORS has entered the crypto space. (video)

NewsBTC:  Fabio, how can these three technologies (Algorithms, Blockchain and Cryptocurrency) help small business to survive and compete against big corporations?

Fabio: Let’s imagine an extreme use case, like that of a farmer working somewhere in a small Southeast Asian country and struggling to competitively sell his produce and make decisions on volumes of crops to be planted, timing, logistics of deliveries, etc. We, at ORS, can empower such a farmer to run his enterprise optimally through collecting data (so-called Big Data) from various sources such as weather forecasts and soil quality and run algorithms for predicting crop yields(video) and for dynamic pricing optimization (even linked to commodities futures exchanges, if meaningful), that would help in such decision making.

The blockchain can be used to give transparency about the whole food chain, giving him an advantage due to consumers’ sudden possibility of easily checking the uncorrupted quality of the farmer’s biological products. And if he can get paid via cryptocurrencies, no distributor will ever again be able to abuse his position of power when not paying him in time. This is only one such example of how the ABC technology building blocks can be used by the “small guy” to keep and run his business successfully against large players. This approach can help us create a much more equal society. This is our vision for the future.

NewsBTC: Let’s take a step back and talk about the history of ORS. From the website, it looks like the company has been delivering AI and algorithm-based software solutions to large customers worldwide for a long time.

Fabio: That’s right. Our visionary CTO Pierluigi Riva founded ORS some 20 years ago, following his Ph.D. in Operational Research, the science of optimization through math. During his study, he discovered the value in providing software and to help various businesses optimizing their operations and processes. Since then, we have been offering such products to a large international client base. Our team of over 100 scientists and IT developers includes mathematicians, econometricians, physicists, economists and other experts in the fields of science.

NewsBTC: Could you tell us more about your clients? Which industries do you mostly work in?

Fabio: We have customers among Fortune 2000 enterprises and we work across industries including retail, energy, finance, and manufacturing – we have calculated that our software solutions save our clients over $1 billion yearly.

NewsBTC: OK, but what made you think that ORS needs to enter the blockchain industry?

Fabio: When it occurred to me how powerful the combination of A.I. with blockchain and cryptocurrency could be for helping businesses achieve what I am calling efficiency singularity. What I mean by that is the theoretical maximum efficiency and productivity achievable.

I asked our developers to start working on creating intelligent connectors of these three technologies, which is what we now call “Hypersmart Contracts.”

Simply put: any value chain is basically composed of three major flows: (i) the flow of goods/services; (ii) the flow of information; (iii) the flow of payments. ORS, thanks to its algorithms, is already able to “extract” extremely high efficiency — conditioned upon data availability — from the processes related to the movement of goods/services within a value chain, by synchronizing the activities of all the participants, even independent ones. However, the flows of information, documents, and payments are still very slow, cumbersome, and somehow stuck in the past.

The Columbus’ egg was to understand that blockchain can be used for collaboratively collecting and sharing information and that Ethereum smart contracts are very useful for executing instant payments without financial intermediaries.

NewsBTC: Hypersmart Contracts? What are they and what makes them different from the smart contracts we are used to hearing about?

Fabio: Our Hypersmart Contracts are intelligent connectors, which activate A.I. algorithms (off-chain) to solve complex efficiency/optimization problems utilizing data stored on-chain by independent, decentralized organizations; and they can also release instant crypto payments. We are thus making all our algorithms and solutions available to the community at large – providing the ABC technology building blocks: Algorithms, Blockchain, and Cryptocurrency to entrepreneurs.

NewsBTC: Can you give us an example of one such contract?

Fabio: We have sealed a deal with our partners at Eidoo Wallet in Italy to offer their users our Crypto-Robo- Advisor(video). Such A.I.-based Hypersmart Contract takes into account every users’ investment preferences and risk profiles and on the basis of that makes portfolio rebalancing and diversification recommendations. Please check out what our partners said about the agreement.

NewsBTC: Great! How can one purchase such Hypersmart Contracts and Algorithms?

Fabio: All our solutions and software will be available on the Platform we are building and can be purchased using the ORST, our Utility Token.

NewsBTC: Your company is already so well known in Europe and beyond. So why go through the trouble of launching an ICO?

Fabio: Because I discovered this is a fantastic way to create a community of developers, entrepreneurs, crypto enthusiasts worldwide. That’s a good starting point for our goal of empowering 1 billion of new entrepreneurs thanks to our technologies.

NewsBTC: Let’s talk about the ICO in a bit more detail then. When is the token sale taking place?

Fabio: The Main Token Sale will start on April 28th and ends on May 26th.

NewsBTC: Has there been a pre-sale already?

Fabio: We have successfully closed the pre-ICO at EUR 10 million and are aiming to collect another 15 million during the main token sale. So, the hard cap on the whole ICO is at 25 million euro. It should be noted that our pre-ICO investors have received no bonus or discount thus creating a level playing field for all ORST purchasers.

NewsBTC: What is the price of an individual token?

Fabio: The tokens are priced at EUR 0.05.

NewsBTC: Do you require all ORST purchasers to pass a KYC procedure?

Fabio: Of course! We are committed to conducting business in the most transparent and law-compliant manner. We thus require all ORST purchasers to register on the ICO Engine in order to pass the KYC requirements. We are, unfortunately, excluding any Chinese and US citizens from participating in our ICO due to legal requirements.

NewsBTC: OK thanks a lot, Fabio! What is the best way to follow ORS and stay up-to-date on all the news?

Fabio: We will, of course, be publishing all the major news on our website: In addition, we are present across all the major social media platforms including Telegram / Facebook / Twitter / YouTube / Medium.

NewsBTC: Thanks! Can I join your community of 1 billion new entrepreneurs?

Fabio: That’s what the ORST is for 🙂

Cryptocurrency mining operations have come a long way since the early days when bitcoin first came into the scene. When Satoshi Nakamoto launched the innovation in 2009, his objective was to have a decentralized currency that users could mine from home. True to his dream, early movers used basic CPUs to solve the mathematical puzzles required to generate new coins. But this simple mining approach fast became obsolete as miners flocked in and the puzzles became more complex.

Fast forward to the present day and some studies point out that the amount of electricity required for mining in the bitcoin industry alone is sufficient to power small countries like Ireland for an entire year. This massive electric energy consumption arises from the advanced equipment used for mining, the technology as well as the location chosen. This is where the MoonLite project comes in, as it seeks to streamline mining operations in a number of cryptocurrencies to reduce the negative ecological impact of the activity.

The MoonLite model proposes a number of unique approaches that set it apart from the competition and give it a remarkable edge.

Smart Mining Solution

The MoonLite project plans to start industrial scale mining operations on Bitcoin, Litecoin, DASH, Bitcoin Cash and even Ethereum (depending on prevalent profitability) by August 2018. This choice of currency is in itself a highlight as the project only targets the most stable and profitable opportunities in the crypto industry. In addition to making strategic choices in this regard, the project also aims to implement a smart mining approach that will optimize the potential of the operation.

The development team is working on custom algorithms and Artificial Intelligence models that will lead to the highest possible operational efficiency and create autonomy in the data centers. This customized smart mining solution will also reduce mining costs while increasing the profit margins from the activity. It is also planning to create a team of youthful, tech-savvy individuals to exercise control over this custom system at all times to minimize downtime.

Strategic Equipment Sourcing

The MoonLite operational plan incorporates a clever equipment sourcing approach that will lead to notable benefits. All of the ASIC equipment that the project requires in order to set up mining operations will be purchased directly from manufacturers. The team has already established a strategic business relationship with three of the biggest mining equipment suppliers namely, Bitmain Technologies, Bit Fury and Pin Idea.

The company will make purchases at scale in order to qualify for high volume discounts. These high volume purchases will also avail the project of high-level support provisions from the manufacturers. And the fact that all equipment will be the property of MoonLite will serve as a hedge against potential failure thus securing a huge chunk of the investment capital.

In addition to this, MoonLite is planning to implement an aggressive equipment replacement program to ensure top performance at all times. The project will have in-house nodes for every currency being mined and will execute its operations in several pools.

The Ideal Location

The project will set up a number of data centers around the globe and the first location chosen is Iceland. This is one of the world’s most popular data center locations because of its production of green energy. All of the electricity produced in Iceland is 100% clean and green as it comes from wind, geothermal and hydro sources. This fact has contributed to its being a low-tariff region that will allow MoonLite to minimize operational expenses.

Moreover, it has political stability, a developed infrastructure network, low temperatures to keep cooling expenses on the low and VAT exemption on data center equipment.

Future Prospects for Moonlite

One of the most outstanding benefits of the MoonLite project is that it focuses on an area that few others have dared to venture. There is a significant gap in the current mining model and the early mover status of this project gives it a high likelihood of success. It takes a strategic, technologically advanced and ecologically friendly approach to the concept thus optimizing the efficiency of the model.

The combination of strategies that the project seeks to employ will keep the data centers at the base of the operational costs curve. This will offer a hedge against potential risks such as currency devaluation and an increase in energy tariffs.

Hardly can one imagine a single day passing without at least a couple of photos taken… Selfies, photos of dear and near ones, beloved pets, landscapes, interior design, street art and more.

Right at this moment, 3 billion smartphones are being used and most of them are high-class devices that can capture high-quality photos. For example, about 47.000 photos are published to Instagram every day. Over 1.2 trillion photos were clicked by smartphone users in 2017 only.

Therefore, all the more shameful is that the authors of visual content who most deserve monetization of their inspiration, creativity, and commitment get almost nothing from posting their works-of-art on social media platforms. In fact, these platforms turn out to get the lion’s share for what they solely host.

SELFLLERY is a visual content-rewarding platform. On SELFLLERY a user automatically gets rewards for each like or comment in cryptocurrency YOU token which is based on Ethereum blockchain. YOU tokens can be transferred to Ethereum wallet and managed as wished. SELFLLERY’s motto easily explains the idea: TAKE PHOTO — MAKE MONEY!

The new social platform has several distinctive features that you can’t find anywhere else:

  1. The possibility of creating smart contracts between opinion leaders and advertisers. Whereas previously the fulfillment of the obligations, including final payment, depended only on two parties and their honesty, now it has an unbiased intermediary, a smart contract that forces participants to play fair.
  2. A collection of stock photos for advertisers. Each photo posted on SELFLLERY can be bought and sold, each user can get money for making an interesting photo. Unlike many other platforms, we take only a small fee, which helps us maintain the Reward Fund. All photos are verified, that excludes the opportunity for any fraud.
  3. Marketplace. When you have finally earned some YOU tokens, you can immediately celebrate and buy yourself something from SELFLLERY’s marketplace, using these tokens. The platform gives access only to authorized sellers, hence you should expect to see only beautiful and interesting things in SELFLLERY marketplace.
  4. And of course, user verification. We use a multi-step identity verification system, so you can be sure that you buy a photo from its author, and those malicious users will be filtered out by the system. No scammers allowed.

You could have seen some of these features in other products, but you have never seen a platform that has it all in one!

On the 5th of March 2018 at 12.00 (UTC +03:00) SELFLLERY starts YOU tokens sale at TGE.SELFLLERY.COM. In the first 48 hours of ICO tokens are being sold with 5% bonus.

Don’t miss a chance to join a new generation’s platform and to get rich!


Token Generation Event:

Key Highlights

  • ADA price made an upside move, but it failed to break the $0.3000 resistance against the US Dollar (tethered).
  • There was a false break above a key bearish trend line with resistance at $0.2950 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
  • The pair may decline one more time and it could retest the $0.2840 support in the near term.

Cardano price is struggling a lot to gain momentum against the US Dollar and Bitcoin. ADA/USD failed to break $0.3000 recently and it could retest the $0.2840 support.

Cardano Price Decline

Recently, there was a support base formed near $0.2840 in ADA price against the US Dollar. The price attempted to settle below the $0.2840 level on many occasions, but it failed. As a result, there was a minor upside move above $0.2900. It traded above the 23.6% Fib retracement level of the last decline from the $0.3348 high to $0.2822 low. There was also a break above the $0.2950 resistance and a close above the 100 hourly simple moving average.

However, the price failed to break the $0.3000 resistance. Moreover, there was a false break above a key bearish trend line with resistance at $0.2950 on the hourly chart of the ADA/USD pair. The pair is now back below the trend line, $0.2950 and the 100 hourly SMA. It seems like the pair was rejected from the $0.3000 level and the 38.2% Fib retracement level of the last decline from the $0.3348 high to $0.2822 low. It is currently trading near $0.9000, and it may continue to move down. However, the $0.2840 level is a major support and it won’t be easy for sellers to pierce it.

Cardano Price Technical Analysis ADA USD

In the short-term, there could be more ranging moves above the $0.2840 level in the near term.

Hourly MACD – The MACD for ADA/USD is once again in the bearish zone.

Hourly RSI – The RSI for ADA/USD has just moved below the 50 level.

Major Support Level – $0.2840

Major Resistance Level – $0.3000


Charts courtesy – Trading View

Havven, a decentralized stable coin payment network, has successfully achieved its hard CAP of USD30 million in its ICO, even before its ending date of March 6, 2018. The company has expressed its appreciation for such a great response shown by the participants and announced that the tokens will be distributed to sale and airdrop participants by March 16, 2018.

About Havven

Havven, a Sydney-based ICO, connects collateral holders with people seeking for low volatility, thereby creating an incentive-based unique market for stability. Collateral holders get rewards when users transact in stablecoin, as a compensation for staking the system. Havven is based on a decentralized payment network and a stablecoin. The stablecoin is the cryptocurrency developed for price stability and to be used within the Havven’s ecosystem.

With this platform, Havven intends to develop a decentralized payment network built on a stablecoin that is able to capture all the advantages of a permission-less system while eliminating volatility.

How Does the Platform Work?

Havven addresses one of the biggest challenges in the cryptocurrency industry, and that is volatility. Havven token holders can issue a secondary token denominated in USD. This locks the value of the stablecoin to the USD.

Those using the stablecoin, pay fees to those who collateralize the network, compensating them for the risks of providing collateral and stability. Through this marketplace, the collateral providers get a control over money supply, while the fees are distributed on the basis of the stabilization performance of each individual. Havven uses this ecosystem to reward suppliers of stability while charging those demanding stability. It leads to a balanced stabecloin ecosystem.

The Two Linked Tokens

Havven operates the stated mechanism via two linked tokens:

  • Nomin:

It is the stablecoin of the Havven platform. The supply of stablecoin floats. Its price, calculated in fiat currency, must remain same. The token is developed to work as a more sophisticated medium of exchange. Hence, apart from price stability, Havven also brings enough Nomin liquidity.

  • Havven:

It is the token that offers collateral for the system. It has a fixed supply. Its market capitalization demonstrates the aggregate value of the system. Token holders get the right to issue a value of Nomins proportional to the USD value of Havven held into escrow. If the token holder wants to issue their escrowed Havven, he or she must first present the system with the Nomins previously issued. Havven tokens have been sold in Havven’s recently closed ICO.

The Core Features of the Platform

Havven aims to develop a stablecoin to be used as a reliable holder of value for global money transfers and payments. The core features and benefits include:

  • Trading on decentralized exchanges
  • Unit of account for the prediction markets
  • Funding token sales
  • Foreign remittances
  • Online retailing
  • Secure store of value

The ICO Token Sale

The Havven token sale started on February 28, 2018, and was supposed to end by March 6, 2018. However, the ICO has closed recently as the company successfully raised USD 30 million, the hard CAP set for ICO.  Total 100 million Havvens were created, out of which 60 million went to token sale, 20 million to team and advisors, 12 million to the Foundation, 5 million to partnerships and 3 million to marketing and bounties.

To know more about the platform and participate in secondary token trading, please visit or access the Official White Paper.

You can communicate with the team on Telegram and Twitter or read the Blog for the latest happenings.

Key Highlights

  • Ripple price started a major upside move from the $0.8850 swing low against the US dollar.
  • There was a break above a key bearish trend line with resistance at $0.9300 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair traded above the $1.000 level before starting a downside correction.

Ripple price traded above key resistance levels against the US Dollar and Bitcoin. XRP/USD is now trading in a bullish zone above the $0.9400 support.

Ripple Price Trend

After a brief consolidation around the $0.9000 level, Ripple price formed a base against the US Dollar. The price started a nice upside move from the $0.8850 swing low and moved above the $0.9200 resistance level. There was also a break above the $0.9400 resistance and a close above the 100 hourly simple moving average. These are positive signs and the price traded above the $1.000 level before starting a downside correction.

More importantly, there was a break above a key bearish trend line with resistance at $0.9300 on the hourly chart of the XRP/USD pair. Later, the pair corrected below the 23.6% Fib retracement level of the last wave from the $0.8858 low to $1.0318 high. However, the $0.9700 level is acting as a support. Furthermore, the 50% Fib retracement level of the last wave from the $0.8858 low to $1.0318 high is at $0.9588 to act a support. Therefore, it seems like there are many supports on the downside near the $0.9500 and $0.9400 levels.

Ripple Price Technical Analysis XRP USD

As long as the price is above $0.9400, it may continue to move higher. On the upside, resistances are seen near the $1.00 and $1.02 levels, followed by the recent high of $1.031.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slowly reducing its bullish slope.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 50 level.

Major Support Level – $0.9400

Major Resistance Level – $1.0200


Charts courtesy – Trading View

Of the 5 altcoins under our focus, I will recommend Lumens and EOS buys considering latest price action development.

Yes, there is some minor recovery in LTC but like before we need strong confirmations for assurance and that may mean prices surging above $225 before we think of going long.

Same trade plan applies to NEO where in the 4HR chart buyers are rejecting lower lows.

Let’s have a look at these charts:


Lumens Technical Analysis
XLM/USD Daily Chart for March 5, 2018

In the 4HR chart, there were two levels that could influence our short term projections.

Of course, the first is that intermediate support line at $0.30 and secondly, the main resistance trend line and the generally, how prices would close relative to that descending wedge in the 4HR chart.

Like before, and referring to our previous analysis, $0.30 remains a key line. We can see how prices are reacting at that level and with every higher highs, it looks likely that our long triggers at $0.40 might be hit.

That is exactly what we need and should that happen, then we should fine tune entries on Tuesday, February 6 and look to buy on dips say on the 1HR chart or anywhere around $0.35 and $0.38-the retest level.


IOTA Technical Analysis
IOT/USD Daily Chart for March 5, 2018

From a technical perspective, we cannot deduce much from IOTA.

Like March 3 price action, prices are still moving along the middle BB and we can see how this flat momentum is doing to the BB.

Notice that as IOTA’s net movement continue to fluctuate around zero over the past few days or so, the upper and lower BB are dropping and seems to be forming a squeeze.

As history shows, any squeeze that forms means there is an accumulation in progress and at any time, there can be a break out in either direction.

We have seen this happening over and over again. In my view, I really think that buyers can pick up IOTA at these low prices and aim for short term targets of $2.2 to $3.

I mean look at price action. IOTA prices are actually 70% down from previous highs. In a nutshell, the correction has been deep and odds of recovery are high and that is why my skew remains bullish in the short to medium term.


EOS Technical Analysis
EOS/USD 4HR Chart for March 5, 2018

If we zoom in to the 4HR chart, there are some pretty exciting price action formations that are supportive of buyers.

However, we have to remember that our main support anchor lies at $7 but going long or remaining neutral as before will largely depend on how EOS bulls act today.

After all, we are trading within a larger bullish break out pattern in the 4HR chart. In my view, positional traders will have to wait and see if buyers close higher today.

If they do and there is a follow through on March 6, then they can begin looking for long entries with every retest of the middle BB at around $9 in the 4HR chart.

Currently, we have series of higher highs after periods of consolidation in the 4HR chart and I recommend buys but with tight stop just below $7.5.


LTC Technical Analysis
LTC/USD 4HR Chart for March 5, 2018

Prices are actually tight in the daily chart and we cannot actually say much about LTC price movements.

Besides the waving of prices in the 4HR chart, there are no substantial price movements below the middle BB at around $200 or any sharp spikes above $225 according to our previous trade plan.

So, for clarity, we can have a clearer picture of price movement in the 4HR chart.

Here we recognize that prices are actually moving within a wedge with strong support at that minor support trend line. Now, here is the deal.

For LTC buyers to be in charge then I want to see a strong break out and close above $225 in the coming sessions.  If not and sellers resume their bear pressure then our main support at around $180 could soon be a reality.


NEO Technical Analysis
NEO/USD Daily Chart for March 5, 2018

A quick glance at the 4HR chart and its evident that NEO prices are all over the map but with a double bar reversal pattern near the support trend line clear in the daily chart.

In my view I will only recommend long or shorts when I see prices trending above $140 or below $100. Before then, I will remain neutral.


All Bitfinex, Bittrex and CoinBase charts courtesy of Trading View

Key Highlights

  • ETH price started a fresh upside move from the $826 swing low against the US Dollar.
  • There was a break above a crucial bearish trend line with resistance at $848 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair may continue to move higher as long as it is above the $840 level.

Ethereum price is recovering nicely against the US Dollar and Bitcoin. ETH/USD may continue to rise towards the next resistances near $865 and $870.

Ethereum Price Trend

After a steady decline, ETH price found buyers near the $825 level against the US Dollar. The price formed a low at $826 and later it started an upside move. It recovered and traded above the $840 resistance level. The best part was a break and close above the $848 resistance and the 100 hourly simple moving average. These are positive signs with a major support on the downside near $840.

During the upside move, there was a break above a crucial bearish trend line with resistance at $848 on the hourly chart of ETH/USD. The pair traded as high as $855 before correcting a few points. It tested the 23.6% Fib retracement level of the last wave from the $826 low to $855 high. However, the broken trend line, the $848 support and the 100 hourly simple moving average acted as key supports. Moreover, on the downside, the 50% Fib retracement level of the last wave from the $826 low to $855 high is at $841. Therefore, the $840-841 zone is a major support area.

Ethereum Price Technical Analysis  ETH USD

On the upside, the price is facing a couple of important resistance levels such as $865 and $870. A break and close above the $870 level could clear the path for more gains.

Hourly MACD – The MACD is now back in the bullish zone.

Hourly RSI – The RSI is now moving higher towards the 65 level.

Major Support Level – $840

Major Resistance Level – $870


Charts courtesy – SimpleFX

Key Points

  • Bitcoin cash price is gaining upside momentum and is currently trading above $1,250 against the US Dollar.
  • There was a break above a connecting bearish trend line with resistance at $1,250 on the hourly chart of BCH/USD (data feed from SimpleFX).
  • The pair has to move above the $1,290 resistance level to gain upside momentum in the near term.

Bitcoin cash price is building bullish moves against the US Dollar. BCH/USD may continue to move higher towards the all-important $1,290 resistance.

Bitcoin Cash Price Trend

There was a decent upside move formed from the $1,220 low in bitcoin cash price against the US Dollar. The price started trading higher and broke the $1,240 and $1,250 resistance levels. It also settled above the $1,260 level and the 100 hourly simple moving average. These are positive signs for BCH, but the price has to break an important resistance near $1,290 to gain traction.

During the upside move, there was a break above a connecting bearish trend line with resistance at $1,250 on the hourly chart of BCH/USD. The pair traded as high as $1,262 recently and is currently consolidating gains. An initial support on the downside is around the 23.6% Fib retracement level of the last wave from the $1,210 low to $1,262 high. However, the most important support is near the $1,250 level and the 100 hourly SMA. The mentioned $1,250 level was a resistance earlier, and now it is likely to act as a support.

Bitcoin Cash Price Technical Analysis BCH USD

Moreover, the 38.2% Fib retracement level of the last wave from the $1,210 low to $1,262 high is around $1.254 to act as a support. On the upside, the pair has to move above the $1,290 resistance level to gain upside momentum.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is now back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently reaching the 70 level.

Major Support Level – $1,250

Major Resistance Level – $1,290


Charts courtesy – SimpleFX