Cryptocurrency

The bullish sentiment around the crypto-space was unabated at press time as Bitcoin continued to trade above $13,700, its trading accompanied by strong expectations that institutional investors would continue to arrive. XRP broke beneath a bearish pattern and could test a level of support in the coming days. Cosmos registered some gains recently, but whether this was a bounce or the beginning of a recovery effort was uncertain. Finally, Dogecoin appeared to have lost an important level of support on the charts. XRP Source: XRP/USD on TradingView XRP formed a rising wedge (white) and the price broke beneath the ascending trendline to test the support at $0.232. The RSI dropped into oversold territory, and the crypto-asset mounted a minor pullback, but could be poised for further losses soon. The RSI has also been trending lower, registering a series of lower highs that highlighted the bearish momentum for XRP. It also retested the neutral 50-zone, before heading south again. ...

Tron could be set to continue its downtrend on its charts, despite the fact that the sentiment around many altcoins appeared to shift to the bullish side. The Crypto Fear and Greed Index noted a neutral reading of 52 at press time, compared to the previous day’s ‘greedy’ value of 55. Further, while Algorand looked likely to make further gains over the next few days, Dogecoin might see its smaller gains wiped out. Tron [TRX] Source: TRX/USDT on TradingView Tron was in a downtrend and at the time of writing, was near the end of a symmetrical triangle pattern. A break below the pattern seemed likely while a break above the same would invalidate the pattern. This pattern is a continuation pattern that generally sees the prior trend resume; in this case, a downtrend. The MACD gave a weak sell signal as it formed a bearish crossover above zero. A move under zero would be a stronger indicator of a drop in the cryptocurrency’s price. Tron Foundation’s Justin Sun recently tweeted th...

XRP showed signs of bearishness on the charts, although on a longer timeframe, there was the possibility of a bullish breakout. NEO has been forming a bearish pattern over the past few days, with the same validated as NEO sought support in the face of selling pressure. Dogecoin could be entering a period of low volatility, although its movements were still part of a larger bear trend. XRP Source: XRP/USD on TradingView A bearish divergence was seen on the 4h charts, highlighted in yellow. This divergence can be expected to take the price back to the support at $0.232. Given that XRP has been trending for more than a month, the $0.232-level might be lost as support in the next few days. The previous week also showed a hidden bearish divergence, with price making lower highs as the RSI made higher highs, as shown by the white lines. The longer timeframe analysis also showed a descending channel, indicating the possibility that in a week or two, XRP might break out of the chann...

XRP, at the time of writing, was showing no signs of price movement in either direction in the near-term. Similarly, Cosmos was likely to be neutral or bearish, until overall market conditions took a turn towards the bullish side. Dogecoin, the popular meme-coin, was also stagnant across its price charts. XRP Source: XRP/USD on TradingView XRP is the fourth-largest cryptocurrency in the market with a market capitalization of $11.27 billion. It was trading at $0.25, at press time, with the crypto-asset’s level of resistance laying at $0.267, while the support was at $0.23. The MACD highlighted a bearish crossover and gave a sell signal. However, the Signal line and the MACD line have been moving quite close to each other for the past few days, indicating a lack of strength in the market. The Awesome Oscillator concurred, as its histogram gave a sense of weak bullishness. A strong move above or below $0.25 could set the stage for XRP’s next move. In related news, a report co...

Kabosu, the superstar mutt behind the incredibly popular Internet meme “Doge,” and its spin-off, joke cryptocurrency Dogecoin, is recovering from vestibular disease—a debilitating condition that affects balance and coordination and can be lethal.  The now 14-year-old pup is a rescue dog—one of 19 Shiba Inus abandoned when a Japanese puppy mill closed down. Some were killed, but Kabosu was fortunate to be adopted by 58-year-old Atsuko Sato, a kindergarten teacher in Japan. She dotes on the plucky pup, and is nursing her back to health, posting daily updates on Kabosu’s recovery on her popular blog. Kaboso's owner is posting regular updates on her recovery. Image: Facebook On Sunday, Sato posted that the pup had barked for the first time, and earlier this month, she posted videos of Kaboso enjoying a walk, but the elderly canine still appeared decidedly shaky on her feet.  Much Fame It was Sato’s blog that propelled Kabosu to Internet fame. She started it in June 2009,...

Owing to its overwhelming market dominance and the fact that it shares a high correlation with the industry’s altcoins, Bitcoin and its price movement have always had a major impact on the fortunes of the rest. This has been the case off-late too, with many alts climbing on the back of Bitcoin’s hike in August. However, some didn’t follow BTC’s lead, while others like Ethereum were starting to note corrections after peaking on the charts. Ethereum [ETH] Source: ETH/USD on TradingView Ethereum, the world’s most popular altcoin, has been on quite a run over the past few weeks, with ETH surging exponentially since the last week of July. While Bitcoin’s hike did help the market’s altcoins, it only gave even more impetus to ETH’s price performance. In fact, at the time of writing, ETH was trading at levels unseen since August 2018. It must be noted, however, that while ETH did climb by over 15% to correspond with Bitcoin’s own surge, at press time, it was noting substantial correct...

Dogecoin’s usecases have seemingly evolved over time. The meme coin was initially created as a joke in 2014, turned into one of the hottest cryptocurrencies in 2015, became Elon Musk’s favorite in 2018, and was part of a TikTok challenge in 2020. But things have taken a darker turn for the currency; hackers are now utilizing the token to control crypto mining botnets, security firm Intezer Labs said in a report this week. Such DOGE, much hack Intezer Labs, a New York-based malware analysis and detection firm, found out hackers using the infamous “Doki” backdoor have been using Dogecoin wallets to mask their online presence. The firm said it had been analyzing Doki, a trojan virus, since January 2020 but recently discovered its use in installing and maintaining crypto-mining malware later.  Undetected Doki attack actively infecting vulnerable #Docker servers in the cloud. Attacker uses a novel Domain Generation Algorithm (DGA) based on a DogeCoin digital wallet to generate C...

Jay Hao — CEO of major crypto exchange OKEx — made positive remarks about meme cryptocurrency Dogecoin (DOGE). When answering Cointelegraph’s recent inquiry concerning new Dogecoin-related OKEx features, Hao made it clear that he has a rather positive view of the cryptocurrency. He said: “Despite showing the lighter side of cryptocurrency, it is not a joke and has shown healthy development and longevity.” Hao explained that Dogecoin, which was born of a Litecoin (LTC) fork in 2013, is one of the oldest cryptocurrencies. He also said the way DOGE is “used for tipping on Reddit and Twitter has shown that it can achieve instant transfer for micropayments in a way that not many major cryptocurrencies can.” Hao even recognized the marketing prowess of Dogecoin’s community: “The community and the sophistication of its marketing is admirable, in fact, that any altcoin can command so much attention shows a deep understanding of user psychology.” Hao approves Dogecoin’s controversial ...

The meme coin is the only coin with a bullish outlook in the near term while Chainlink and XRP are both hinting at a downtrend. Even if Dogecoin doesn’t see price appreciation, it will witness a sideways movement; Link and XRP have a clear negative bias. Chainlink Chainlink ranks 13 with a market cap of $1.66 billion and is priced at a whopping $4.77. The coin hasn’t seen a lot of movement in the last 24 hours; however, over the course of 2 weeks, the coin has surged from ~$3.5 to $5, where it is trading at press time. The coin has formed a rising wedge pattern, indicating a downward breakout with targets at $4.49, $4.15, and $3.86. Dogecoin DOGEUSD TradingView Dogecoin aka the crypto born out of a meme, at press time, had a total market cap of $289 million making it the 35th largest cryptocurrency in the world. Priced at $0.002314, the coin has seen a 0.08% surge in the last 24 hours. The price is still moving sideways but above the support zone of $0.00226. Additionally, t...

The past few days have seen Bitcoin’s price drop to close to $9000, and as expected, many of the market’s altcoins were quick to mirror the price action of the world’s largest cryptocurrency. In fact, since the early hours of 23 June, the prices of Bitcoin and popular altcoins such as Monero and Dogecoin have depreciated by significant margins. Bitcoin [BTC] Source: BTC/USD, TradingView The price of Bitcoin, ever since its halving, has been trying to breach the coveted $10k mark. However, the king coin’s aspirations have been put on hold for now. In the last four days, the price has fallen by over 7 percent, pushing the trading price of BTC to $9177, at the time of writing. At press time, Bitcoin had a market cap of $169 billion and a 24-hour trading volume of $17 billion. Further, Bitcoin was testing its strong support at $9,102 and if the price were to go on an uptrend, it is likely to face resistance at $9,318. The MACD indicator underwent a bearish crossover a few days ag...

The cryptocurrency market has been moving sideways for a while as the momentum has decreased and the bearish and bullish momentum has been brief till now with no major changes in the past few days. Litecoin [LTC]  Source: LTC/USD on TradingView The seventh-largest cryptocurrency in the market, Litecoin has been trading at $46.26, while the immediate resistance was marked at $51.05 and support at $41.68. However, as the chart indicates the coin’s price has been limited to this range for the past couple of weeks, and the price has not broken out of it yet. Despite being in an upward trend, LTC has been noticing a price reversal trend. This was confirmed by the Awesome Oscillator indicator. Even though the AO crossed over the zero line, the short term momentum was minimal as noted previously and this trend can change anytime. Irrespective of the digital asset’s price, the coin has been making strides in terms of adoption. According to a crypto expert, Sydney Ifergan, there h...

Bitcoin’s price recently bounced off the crucial $9,500-support which drove the collective cryptocurrency market to a mild upswing. The market cap for the coin rose to $269.5 billion while Bitcoin’s dominance at 65.2%. Following this, many altcoins were observed to be showing significant strength. Source: CoinStats Ethereum: Source: ETH/USD on TradingView Despite delays and missed deadlines, users and investors were optimistic about Ethereum 2.0 launch. This was evident in the rapid growth of metrics such as addresses etc. At press time, the second-largest cryptocurrency was being traded at $237.8 after a minor surge of 0.19% over the last 24-hours. ETH recorded a market cap of $26.44 billion and a 24-hour trading volume of $13.6 billion. Resistance:  $286.2 Support:  $186.6 Parabolic SAR:  The dotted markers were below the price candles which depicted a bullish trend for the coin. Awesome Oscillator:  The AO also aligned with the bulls depicting th...