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Cryptocurrency

Analysis: Coins remain largely bullish despite looming bears

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On May 29, cryptocurrency investors were in for a surprise after EOS overtook Litecoin’s position on the cryptocurrency charts. Bitcoin [BTC], however, continued to consolidate its gains and retained its 57% dominance over the coin market.

1-Day BTC chart

Source: TradingView

BTC’s 24-hour trading volume was $28 billion, while its market cap was recorded to be $147 billion. It was priced at $8,275, at press time.

An uptrend was seen from $4,098.98 to $5,130.91, and a downtrend was seen from $6,278.88 to $4,959.41. Resistance was at $8,773.01 and the support was at $3,156.54.

Bollinger Bands indicated expanding volatility in the market.

Parabolic SAR pointed towards a bullish market as the dotted markers were seen below the candles.

Relative Strength Index was sighted above the 50-line, indicating a relatively bullish market, at press time.

1-Day LTC chart

Source: TradingView

Litecoin’s [LTC] 24-hour trading volume was seen at $4.96 billion, with a market cap of $6.61 billion. The coin was priced at $106.25, at press time.

The uptrend was from $32.45 to $66.03, while the resistance was at $116.42 and the support was at $22.79.

The Aroon indicators suggested a sideways moving trend, as the Aroon up-line and Aroon down-line were seen moving down.

Awesome Oscillator signified market momentum in the LTC market. However, some bearish signals were evident as the momentum was falling.

Chaikin Money Flow indicated a money inflow into the LTC market as the indicator was above the zero-line, at press time.

Conclusion

Despite a bloodbath in the cryptocurrency market today, Litecoin and Bitcoin remained largely bullish over the long-term.

Source/ambcrypto

Cryptocurrency

The cryptocurrency market update: Bitcoin and major altcoins pass the time in ranges

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  • Bitcoin (BTC) has been locked under $8,500 in recent days.
  • Altcoins are mostly range-bound with bearish bias during early Asian hours.

Cryptocurrency market traders are sitting on the fence, waiting for new catalysts.  Bitcoin and major altcoins are somewhat directionless during early Asian hours. The total cryptocurrency market capitalization is $233 billion, unchanged from this time on Sunday; an average daily trading volume dropped to $56 billion. Bitcoin’s market share settled at 65.9%.

Top-3 coins price overview 

BTC/USD is locked in a tight range limited by $8,500 on the upside and $8,400 on the downside. At the time of writing. the first digital coin is changing hands at $8,465, mostly unchanged both on a day-to-day basis and since the beginning of Sunday.

BTC/USD, 1-hour chart
 

Ethereum, the second-largest digital asset with the current market capitalization of $19.8 billion, has settled above $181.00 after a short-lived dip to $177.05 on November 15. ETH/USD has stayed unchanged in recent 24 hours amid low trading activity. The further recovery is limited by the upper line of 1-hour Bollinger Band at $183.30 followed by Saturday’s low of $183.45.

ETH/USD, 1-hour chart


  
Ripple’s XRP is moving within a side channel, in line with the general trend on the cryptocurrency market. The coin bottomed at $0.2525 on November 15 and settled at $0.2615 by the time of writing. XRP/USD is the third digital coin with the current market value of $11.4. The coin may be vulnerable to further losses if fails to recover above $0.2620 (SMA50 1-hour) and $0.2630 (the upper line of 1-hour Bollinger Band) any time soon. 

XRP/USD, 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

BTC/USD, 1-hour chart
 

Ethereum, the second-largest digital asset with the current market capitalization of $19.8 billion, has settled above $181.00 after a short-lived dip to $177.05 on November 15. ETH/USD has stayed unchanged in recent 24 hours amid low trading activity. The further recovery is limited by the upper line of 1-hour Bollinger Band at $183.30 followed by Saturday’s low of $183.45.

ETH/USD, 1-hour chart


  
Ripple’s XRP is moving within a side channel, in line with the general trend on the cryptocurrency market. The coin bottomed at $0.2525 on November 15 and settled at $0.2615 by the time of writing. XRP/USD is the third digital coin with the current market value of $11.4. The coin may be vulnerable to further losses if fails to recover above $0.2620 (SMA50 1-hour) and $0.2630 (the upper line of 1-hour Bollinger Band) any time soon. 

XRP/USD, 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

source:fxstreet

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Cryptocurrency

The cryptocurrency market update: Bitcoin bears celebrate another victory, as BTC settles below $9,500

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  • Bitcoin (BTC) has settled below $8,500 amid growing bearish pressure
  • Altcoins are mostly range-bound with bearish bias during early Asian hours.

Cryptocurrency market is range-bound with bearish bias during early Asian hours on Saturday. Bitcoin and major apt coins are nursing losses on a day-to-day basis. The total cryptocurrency market capitalization is decreased to $233 billion, from $236 billion this time on Thursday; an average daily trading volume reached $69 billion. Bitcoin’s market share settled at 65.9%.

Top-3 coins price overview 

BTC/USD is mostly unchanged both since the beginning of the day and down 1.5% on a day-to-day basis. The first digital coin has recovered from the Asian low of $8,458 but failed to regain ground above $8,500. On the intraday charts, the recovery is limited by the upper line of 1-hour Bollinger Band on approach to $8,500. 

BTC/USD, 1-hour chart


 
Ethereum, the second-largest digital asset with the current market capitalization of $19.8 billion, recovered from Friday’s low of $177.05 and settled above $181.00. ETH/USD has lost 1% on a day-to-day basis. Thee initial resistance is created by SMA50 (Simple Moving Average) 1-hour at $182.40.

ETH/USD, 1-hour chart


  
Ripple’s XRP is moving within a downside channel. The coin bottomed at $0.2525 on Friday and recovered to $0.2630 by the time of writing. XRP/USD is down 1% since this time on Friday. The third digital coin with the current market value of $11.4 may be vulnerable to further losses if fails to recover above $0.2640 (SMA50 1-hour) and $0.2700 any time soon. 

XRP/USD, 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

source:fxstreet

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Cryptocurrency

US District Court charges two individuals for operating fraudulent SIM swap scheme

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  • The two men, Eric Meiggs and Declan Harrington, gained access to victims’ phones and social media accounts to steal cryptocurrency.
  • Those two were attempting to target ten people to steal over $500,000 in cryptos.

The US Department of Justice (DOJ), FBI and IRS recently announced that the US District Court in Boston has charged two individuals for performing a nationwide SIM swap scheme. The two men, Eric Meiggs and Declan Harrington, are accused of highjacking victims’ phones and social media accounts to steal cryptocurrency. 

The DOJ stated that the individuals attempted their fraudulent scheme on executives of cryptocurrency companies. Notably, the executives have “high value” social media account names. As per the Block, Meiggs and Harrington gained access to their victims’ phone numbers and convincing the phone carriers to reassign their numbers to a SIM card that they possessed. The stolen devices and accounts were then used to reset passwords. It helped them gain access to victims’ online cryptocurrency wallets and private keys.

As per DOJ, around 10 individuals were targeted by Meiggs and Harrington across the US. They attempted and managed to steal more than $500,000 in cryptocurrencies from these individuals.

Fraudulent schemes such as this are quite common in the crypto space. Recently in October, an AT&T user sued the wireless carrier. The customer claimed that AT&T failed to protect his account from a SIM swap that led to a theft of over $1.8 million in cryptocurrencies.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

.source:fxstreet

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