A bullish outlook is seen in the last 24hrs, this is confirmed by the moving averages which are moving side by side in an upward direction. The 7-day MA is seen above the 21day MA indicating bullish momentum. ETH/USD pairs started trading $231.55 (A). This was followed by a period of consolidation resulting in price rally moving in a sideways manner A to B.
The RSI is seen above 70 around X, V and Z indicating overbought market at those periods of time. Later on, the bulls manage to push the price a bit up to close at $239.28 (B) which was followed by a period of consolidation once again indicating luck of price momentum due to indecision in the market.
A three inside up Candlestick pattern appeared later on showing that the bulls rally and overtake the bears and pushed the price further up at (C) to close at $264.13. This placed resistance level at $268.09 and support level at $251.65. Resistance level was breached while the support level was tested severally. ETH is currently trading at $262.42; this shows that the price of ETH has increased thus increase sellouts is observed over the last 24hrs.
The 7-day MA is seen to have bent down during the last few hours this might indicate that the trend is coming to an end. The RSI is seen below 70 during the last few hours thus confirming a downtrend in the next few hours. New support should be set at around $254.50.
EOS/USD pair started the day trading at $6.0808 (A). Luck of market momentum is seen from A to B, but the bulls are seemed to be on the upper hand.
The RSI is seen above 70 at X indicating that the asset was overbought at that period of time. Later on, at (B) buyers drove the price further up to a high of $8.2000 but they encounter selling pressure that drove the price back down, for the period to close near to where they open (C).
Resistance level (R) is placed at $6.7344 and support level (S) is placed at $6.5256, resistance and support level was breached and tested severally. This was followed by a bearish rally where traders pushed the price further down to close at $6.2400 thus, the current price.
The 21-day MA is seen to be crossing over the 7 day MA during the last hour, this indicates a bearish signal. The RSI is heading north at (Z) showing that a downtrend is likely to continue in the next few hours. New target should be placed at $6.0808 and stop-loss may be put into place slightly below or above the target before a breakout or a breakdown occurs.
A bullish outlook is seen in the last 24hrs, the bulls are seemed to be up on their game. The day began with a bearish price rally where BNB started trading at $25.19190. The bulls, later on, managed to push the price up to close at $27.09166; this was signaled by the RSI (V) which was seen above 70 indicating an overbought market.
At that period of time indecision in the market was encountered for about 4hrs thus placed resistance level (R) at $26.96501. Traders later pushed the price down, placing support level (S) at $26.24737.
Resistance and support level was also tested and breached severally. During the last 3hrs the 21-day MA is seen to be above the 7 day MA indicating a bearish signal, this was followed by sellers pushing the price rally further down past support to a low of $25.17782. BNB is currently trading at $25.59308, this shows an increase in price thus increase sellouts.
The presence of a reversal pattern during the last hour signals bullish momentum. The RSI is also heading north, indicating an upward price rally in the next few hours. New target should be placed at $25.29040 while stop-loss should be set above support in case of a breakout.
The total market cap is approaching $250📈💣 bln again. Read our price analysis to understand when to buy and sell top coins
Indeed, it seems that the altcoins market is back, and soon, we can expect new highs. Such a scenario is backed by Binance Research, showing that today is an excellent opportunity to buy promising cryptocurrencies.
The rate of the world’s top crypto has not changed over the last day; Bitcoin has been trading sideways for 3 days already. We could see the same situation one month ago, at the end of April. However, back then, the quotes started to rise.
On the 30 minute chart, the asset has been showing steady growth since May 20. The bullish trend is also noticed on the MACD indicator, as the coin is located in the ascending channel. In the long-term scenario, ETH may reach $261; however, the likely forecast is the level of $253.78 (23.6%).
The price of ETH is trading at $257.35 at the time of writing.
It looks that no news is needed for Binance Coin to rise, as there are no vivid reasons for today’s growth. Now, no one even recalls the hack of the Binance exchange, meaning that the community is more than sure in the platform’s stability.
Our previous BNB prediction more than justified itself: the rate peaked at $30, fixing the ATH. In terms of the hourly chart, a little correction is needed for the coin to continue its smooth growth. Overall, the nearest scenario is reaching the $30 mark in a few days.
The price of BNB is trading at $31.62 at the time of writing.
Cryptopia might have been shutdown, but those who looted it are still keeping it in the headlines. The $16 million that were stolen in the hack are now being moved by the hackers. The incident came to light after some of the stolen funds were moved to Huobi, where company’s systems automatically detected them and froze them. Crypto analysis company Coinfirm also detected them and along with other transactions that were done by the hackers.
In the month of January Cryptopia had suffered one of the worst hack attacks ever on a cryptocurrency company. Crypto assets worth $16 million were stolen from the exchange, and as a result of that Cryptopia had to be shut down. Since then the funds stolen by hackers had not been moved. So when their movement was detected on 21st of May (i.e. yesterday), it was immediately brought to the notice of every one by analysis firms. According to a statement issued by Coinfirm:
“The Cryptopia hacker moved 30,790 ETH (~$7.67M) from the last red address to the yellow one which is a new address of the hacker as of May 20, 2019 at 01:43:57 AM +UTC. The yellow address still has got 29,770 ETH.”
This statement was released along with a graphic to help people understand the movement of funds. You can see that graphic below:
The hackers smartly moved 10 ETH only to a Huobi deposit address and then to a Huobi hot wallet, perhaps to check if the funds are detected by their systems or not. This seems to suggest that they wanted to cash out from Huobi. Unfortunately for them, Huobi’s systems detected those funds, and upon detection the funds were frozen. Here’s a tweet from Huobi confirming the development:
The funds were also moved to some other addresses. About 1010 ETH were moved to this address, and 30,788 ETH were moved to a new set of wallets. You can see that movement too in the following graphic released by Coinfirm.
Another interesting thing to note is that hackers knew very well that Cryptopia won’t be able to survive after the attack. So they waited for the exchange to shut down. On 15th of May Cryptopia went offline forever, and now a week later these folks started moving funds. Now, while we don’t know what exactly is going on with those funds, one thing is clear – the $16 million stolen in this hack are not going to stay in ‘idle’ mode for too long!
The wider adoption of cryptocurrencies primarily depends on the synergy of companies which enable technological adoption. This year saw the highest number of collaborations aimed at crypto-enablement. In yet another addition to the growing list of such collaborations, Amazon China has partnered with a Lightning network service provider, Bitrefill.
Although no official announcement has been made at press time, the news came through after a tweet by @Ramadit73993290. The user’s tweet read,“Bitrefill Has Launched Gift Cards On Amazon China.”
The tweet also contained a source link which featured two screenshots confirming the development.
The Amazon-Bitrefill partnership is intended to ease crypto-adoption for Chinese users. The email circulated by Bitrefill also stated that the product would “make it a lot easier for (Chinese) residents to live with Bitcoin and altcoins”.
The service specifically allows users to load and recharge their Amazon balance through Bitrefill-provided Gift card codes or mobile applications. The source of the news also shared a screenshot of the email from Bitrefill, which confirmed fiat to crypto conversion for one of its users.
While the development seems to be a step in the right direction and would no doubt boost crypto-adoption, it was recently reported that Amazon would shut down its e-commerce business in China by the end of July. Whatever the future of the e-commerce giant is in the Asian country, users can, for the time being, leverage the service to buy products on Amazon through cryptocurrencies. However, the sustainability of the partnership in the long run, in light of the questions around Amazon’s future in China, remains uncertain until Amazon directly addresses it.