Mate Cser on September 19th, 2017.
As the waves of last week’s Chinese legislative shift faded away, volatility fell to normal levels in the segment, as the total market value of the sector reached $140 billion again for a 40% gain. The post-crash surge in the major coins got stopped by the dominant short-term trendlines and the overhead resistance zones, with the price...
Mate Cser on September 18th, 2017.
As the effects of last week’s crash are waning, the recovery continues in the segment, although Bitcoin’s relative strength is prominent. The other majors are still well below their prior highs, while BTC reached the $4150 level today in early trading, surging past the key $4000 level. While the correction will likely take the coin way...
Mate Cser on September 16th, 2017.
Although the extent and the actual weight of the Chinese cryptocurrency trade ban are still questionable, the major coins outright crashed this week, accelerating the projected deep correction. The segment lost 40% of its total market value before a roaring snapback rally that eased some of the pain of crypto-bulls. Bitcoin was at the...
Mate Cser on September 15th, 2017.
Yesterday’s crash continued unabated today, and it reached epic proportions as investors dumped all the major coins with both hands, before several Chinese exchanges (like OKcoin, Huobi) confirmed their (only) partial closure. The prior panic selling drove BTC below the $3150 support, then $3000 and the June all-time highs. With the coin...
Mate Cser on September 14th, 2017.
The sky has fallen today in the cryptocurrency segment, as China took huge steps towards closing its domestic Bitcoin exchanges, in line with the recently surfaced rumors. The whole sector took a major beating on the confirmation, with Bitcoin and Ethereum leading the way lower. ETH, which is slightly more exposed to the Chinese...
Mate Cser on September 13th, 2017.
The price action that we described as suspicious yesterday changed dramatically after the harsh words of J.P. Morgan CEO Jamie Dimon, which led to another leg lower in the ongoing broad correction. The expected decline finally broke the support levels that held the majors up during the weekend sell-off, and now the most valuable coins...
Mate Cser on September 12th, 2017.
Suspicious; that’s probably the best word to describe the rally attempt of the major coins off the China lows this week. The segment definitely stabilized after losing 20% in market cap compared to the all-time highs a couple of weeks back, but last week’s uncertainty is still clearly in the air, and the buying that the most...
Mate Cser on September 11th, 2017.
The scary decline that started on Friday didn’t cause major technical damage in the most important coins, as the prior correction lows mostly held so far. The most watched Bitcoin stayed above the crucial $4000 level, and it’s now back near $4200 thanks to today’s modest rally. With the long-term pressures still being generally bearish,...
Mate Cser on September 10th, 2017.
The major coins are sharply lower this weekend as the two new Chinese regulatory proposals that surfaced spread uncertainty in the segment during the week. The ICO ban proposal on Monday and the following alleged exchange ban delivered a double blow to the overbought market that we have already been expecting to correct. BTC is showing...
Mate Cser on September 8th, 2017.
Cryptocurrency traders enjoyed a slight breather after a very volatile week, as most of the major coins were close to unchanged this Friday. Dash and Monero were up by more than 5%, with the pair still trading in tandem, consolidating their lofty break-out gains from the prior weeks. XMR advanced above the $125 support/resistance line...
Mate Cser on September 7th, 2017.
The aftermath of Monday’s massacre turned out to be very volatile, but now trading in most of the majors calmed down, with only NEO continuing its crazy period. The most affected coin by Chinese ICO ban surged higher today and it’s now trading near its pre-announcement levels above $30, after doubling from its crash lows in a matter of...
Mate Cser on September 6th, 2017.
Huge moves continue to dominate the crypto segment, as the most valuable coins regained a large chunk of their recent plunge with Bitcoin leading the way higher. The rally cleared the short-term oversold readings of the decline and the dominant currency is now at make-or-break levels, with the $4400 level being the most important...
Mate Cser on September 5th, 2017.
The sell-off that was triggered by technical reasons, and has been accelerated by yesterday’s Chinese ban on ICOs ran out of steam and the major coins recovered some of the steep losses today in early trading. Bitcoin touched $4000 during the decline, completing a 20% correction off its all-time high. The currency is now back near the...
Mate Cser on September 4th, 2017.
The crypto segment lost $30 billion in market cap since last Friday’s all-time high, as the correction that we have been expecting started in earnest. The latest news regarding a Chinese ban on ICOs delivered a huge blow to the already fragile market and the most important coins are all substantially lower, with NEO being especially...
Mate Cser on September 2nd, 2017.
It’s been a great ride for the crypto segment in the last one and a half months, as the summer correction soon transformed into a monster rally in most of the majors. Bitcoin, which emerged from the Fork-day stronger than ever, led the surge, but the rest of the market joined the party soon. As we already warned traders, the majority of...
Mate Cser on September 1st, 2017.
The great bull run in the major cryptocurrencies continues, as all but two of the most valuable coins are up today, with Bitcoin and Litecoin trading on all-time highs yet again. BTC has carried the segment above $175 billion in market cap, as it has been gradually gaining ground since breaking-out above the $4500 resistance. The...
Mate Cser on August 31st, 2017.
The major coins are all in the green today, with Monero, NEM, and Litecoin sporting the biggest gains amid the broad rally. Litecoin is on a new all-time high above the $69 level after several days of consolidation, and the currency looks poised for a test of the $70 level in the coming period, as it remains among the most promising...
Mate Cser on August 30th, 2017.
The second largest coin finally reached our next target level after a long and grinding leg higher, and the ETH token topped out only a few percent off its all-time high near $400 today in early trading. Ethereum, which was the top performing major during the summer rally, has been lagging Bitcoin and most of the other prominent coins...
Mate Cser on August 29th, 2017.
The two largest coins are on the move today, as Ethereum finally cleared the $350 mark after a period of gradually increasing prices, while Bitcoin is now at a new all-time high above the $4500 level. With the two behemoths increasing their market capitalization and BTC crossing $75 Billion for the first time, the total value of the...
Mate Cser on August 28th, 2017.
The crypto segment has a calm day so far as the most valuable coins are little changed, with a few exceptions. Litecoin and Monero are the biggest movers so far, being up by 8% and 5% respectively. Monero has been in a strong uptrend for more than a week now, while Litecoin finally broke out to a new all-time high after a fairly long...