Bearish traders are aggressively defending the 50-day SMA on most major cryptocurrencies but once crossed, momentum is likely to pick up. Central banks around the world have pumped up their economies with huge stimulus measures. JPMorgan Chase’s chairman and CEO, Jamie Dimon, praised the United States for taking swift action to counter the current economic…
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Most top performers have reached their resistance levels and may consolidate or correct over the next week. Consumer attitudes are changing towards banknotes and credit cards as reports suggest that the deadly coronavirus can spread by their use. The Bank of International Settlements (BIS) has, therefore, urged the central banks to consider developing central bank…
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Experts believe that Binance’s acquisition of CoinMarketCap is a sign that the crypto industry is dealing with the ongoing market collapse well. Despite markets all over the world facing ever-worsening economic troubles amid the ongoing coronavirus pandemic, it seems as though the crypto industry has been able to weather the storm, at least thus far.…
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Bitcoin price continues to push higher but major cryptocurrencies should sustain above their 20-day EMA to confirm that the downtrend might be over. On April 2 the U.S. Labor Department reported that the U.S. weekly jobless claims skyrocketed to 6.6 million. In the previous week, the claims stood at 3.3 million, meaning over the past…
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Bitcoin price remains range bound and several major cryptocurrencies are attempting to break above the overhead resistance levels. Traditional markets continue to post almost daily losses while Bitcoin price has been relatively range bound for the past week. At the risk of sounding repetitive, traders have to continue to focus on the events that are…
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Current price action from top cryptocurrencies suggests that the path of least resistance is to the upside, indicating the market could be in the early stages of a new uptrend. Even after the announcements of massive stimulus by the U.S. Federal Reserve, the ECB, and several other central banks, the equity markets are still struggling…
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As equities markets continue to fall, major cryptocurrencies are likely to remain range-bound for the next few days. The unprecedented volatility in the equity markets continues as the traders are trying to assess the economic damage and the remedial measures that have been taken to support the economy. A growing number of developed nations have…
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The recent cryptocurrency crash has propelled many stablecoins up the market cap rankings, with six dollar-pegged crypto assets currently ranking in the top 50. While most cryptocurrencies have seen their market capitalization slashed over the past month, the market meltdown has seen stablecoins ascend the market cap rankings. As of press time, six stablecoins currently…
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The crypto markets are attempting a relief rally but are struggling to sustain the higher levels. This shows that selling is not over yet. Capitulation occurs when traders are scared. On March 12, most asset classes witnessed a massive selloff with no place to hide. Even gold declined 3.17%, which shows that the traders sold…
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The crypto markets have turned down sharply over the weekend and are threatening to wipe out all the gains made in 2020. Crude oil prices plunged about 30% on Monday to the lowest levels seen since Feb. 2016. This triggered a sell-off in global equity markets, which were already reeling under the pressure of a…
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