Cryptocurrency Analytics from FXOpen - page 30.

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Everyone’s favorite crypto-currency hit a two-year high yesterday at $689.99 dollars per coin. Litecoin continues to follow BTC higher, up close to 5 percent since last Tuesday.

Bitcoin Surges to Two-Year High

After consolidating for eight days Bitcoin surged to two-year highs yesterday. Prices peaked at $689.99 on Fxopen before falling back to $674 dollars right now. On other exchanges we saw highs of over $700 dollars per coin. In our previous article HERE we went over the price differences between the major BTC exchanges.

Read More https://blog.fxopen.com/bitcoin-hits-two-year-high/

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Altcoins have broken their downtrends after trading higher. Peercoin is trading at $0.37 right now, up by over 5 percent since last Thursday. Smaller altcoin Namecoin is quoted at $0.373, up from $0.346 last week.

Namecoin Higher by 7.5 Percent

Alternative cryptocurrency Namecoin stopped its downtrend this week after the gains of 7.5 percent. Prices broke the $0.385 swing high on Monday, peaking at $0.395 per coin before falling back. We’re currently quoted somewhat below this level at $0.373.

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Bitcoin prices hit a new yearly high of $583.76 today. We are currently quoted almost 8 percent higher compared to one week ago. Litecoin is again following BTC, up by 31 cents or 6.8 percent since last Tuesday.

Bitcoin Hits New Yearly Highs

Bitcoin hit a another yearly high of $583.76 on FxOpen today. On other major exchanges we saw highs of $592 and even $603 dollars per coin. During volatile times like the past few weeks, you will see large price discrepancies between the different exchanges. But as markets trade a bit calmer, arbitragers will tend to close these gaps.

For traders, it’s important to note that prices on FxOpen are less reactive and ’emotional’ compared to other exchanges. During strong rallies prices here will usually lag the market. In the past week we saw a discount of $20-$30 dollars below the major exchanges. But because the last few days have been somewhat slower, this gap is now down to only $8 dollars. The reverse is true during sharp declines. Here you’ll see FxOpen prices lag again, not falling as fast as other sites. During crashes you could even see prices trade at a premium for a short period of time. The usual discount to the general BTC market is $2-$3 dollars.

Read More https://blog.fxopen.com/bitcoin-at-new-yearly-highs/

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Both Namecoin and Peercoin have slowed down their decline. The rally in Bitcoin prices seems to be keeping a floor on these altcoins for now.

Namecoin Down by 2.5 Percent

The alternative cryptocurrency Namecoin is down by 0.9 cents or 2.5% compared to last Thursday. We are currently quoted at $0.346 per coin. The short-term trend remains bearish, as the medium-term trend is. The long-term trend is still neutral.

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After lingering below recent highs for almost a month, bitcoin finally broke the $465 resistance level on Friday. In the next two days the the $500 round figure gave way as well, marking a high of $544 dollars on Sunday. Litecoin is faithfully following BTC so far, up 11.5 percent since Friday.

Bitcoin Surges 17 Percent

Everyone’s favorite crypto-currency surged 17 percent in the past few days alone. After clearing the important $462 – $465 resistance level (noted HERE) BTC hit $495 dollars by Saturday and $544.58 dollars on Sunday. The $465 resistance help up prices for the past few months so it’s not a surprise that bitcoin went out of control once the level was finally broken. As expected, a similar spike happened on a break of $500 dollars, last year’s high for BTC/USD on most exchanges.

Read more https://blog.fxopen.com/bitcoin-surges-17-breaks-500/

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Both Peercoin and Namecoin are continuing their downtrends. Peercoin is down by over 7 percent this week while NMC/USD is trading lower by exactly 3 percent. Let’s start with PPC and we’ll get back to Namecoin later on.

Peercoin Down 7 Percent

Alternative cryptocurrency Peercoin is down by 7.2 percent compared to last Thursday. The altcoin has fallen from $0.374 dollars to $0.347 dollars right now.

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The slow bitcoin rally has finally ended. The sell-off last Thursday and Friday pushed prices down to the $435 level. Its little brother Litecoin is still in its own uptrend after bouncing strongly at the $3.78 dollars figure.

Bitcoin Uptrend Ends

The long but slow bitcoin rally is finally over. On Thursday prices broke below the lower bound of the triangle pattern. On Friday a low of $434.86 was hit.

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Both Peercoin and Namecoin are back in a downtrend. In our last article we noted that both cryptos were pushing on important support levels. Late on Tuesday, these support levels finally broke, first on NMC and 3 hours later on PPC/USD.

Peercoin Breaks 40 Cents

Two days ago, Peercoin broke the important support near 40 cents at $0.398. Prices crashed soon after to $0.349 per coin. This is close to the January lows at $0.353. Since that crash we’ve somewhat stabilized but PPC is still far below the 40 cents mark at $0.374 right now.

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Both bitcoin and litecoin have settled into large triangle patterns. The formations are ascending triangles, potentially signalling that more gains are on the way.

Bitcoin Settles in a Large Triangle Pattern

With the price action during the past seven days, bitcoin has settled firmly inside a large triangle. On the picture below you can see this formation. Prices peaked at $462.16 on April 26th and we’ve been rang-bound ever since, albeit with a slight bullish bias.

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Both Peercoin and Namecoin are pushing on their respective support levels. For PPC/USD this figure stands around $0.398 while for NMC its around $0.412. As we always say, we’re looking for a ”decisive” break of these levels, not just a quick and shallow spike below.

Peercoin Down by 2.6 Percent

Peercoin is down by 2.6% this week, from $0.417 to $0.406 right now. Earlier in the day we hit a low of $0.404 but we’ve since bounced slightly. The important support around the 40 cents area at $0.398 dollars wasn’t tested this week.

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The slow rally in bitcoin prices continues. In the past seven days everyone’s favorite crypto-currency advanced by $10 dollars or 2.2 percent. This is having a positive impact on most of the altcoin market. Litecoin for example is up by 32 cents or over 8 percent.

Slow Bitcoin Rally Continues

The slow rally in BTC/USD continues. Like we mentioned above the gains are not very large at around 2 percent this week, from $445 to $455 dollars per coin. On the technical front not much is changed. The small percentage move hasn’t broken any major levels. The short-term trend is bullish as is the medium-term trend. The long-term trend (monthly charts) is still in neutral mode.

Read More https://blog.fxopen.com/slow-bitcoin-rally-continues/

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The slow drift lower for altcoins continues. Peercoin lost 2.8 cents or 6.8 percent since our last update. Namecoin declined as well but by a smaller magnitude . Let’s start with PPC and we’ll get back to Namecoin later on.

Peercoin Back in Range

Alternative cryptocurrency Peercoin fell from $0.444 to $0.417 right now, a loss of 2.8 cents. This puts the crypto back into range-bound territory. The very long-term trend (monthly charts) is negative. But there is no short-term or medium term trend, as well as no momentum.

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It hasn’t been a good week for bitcoin or litecoin. Big brother had a sharp retracement from $462 to $435 dollars while LTC retreated from $4.19 to $3.61 dollars per coin. After that wild ride, the past few days have been range-bound for the two major crypto-currencies.

Bitcoin Waiting for Direction

Bitcoin is waiting for its next directional move. The April move higher topped out at $462 dollars. From here we retraced to $435 dollars. Post that mini crash both BTC and LTC has been more or less unchanged. What’s next for bitcoin?

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Both Peercoin and Namecoin had a wild couple of days. The two smaller cryptos decided to join the BTC rally at the worst possible time. Bitcoin is experiencing a large correction during the past two days and its having a knock-on effect in the altcoin markets.

Peercoin Breaks Higher, Falls Back Down

Peercoin broke above the former support, now turned resistance at $0.447 on Monday. While this ended the weak downtrend, the move didn’t break $0.48 dollars. In our last PPC article we noted this level as potential rally starter. Prices peaked at $0.479 dollars on Tuesday and we’ve been falling ever since. The primary driver of this move is bitcoin falling from $462 to $435 dollars per coin but more on this below.

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The bitcoin rally has finally awoken the cryptomarket. All of the three altcoins we follow, Peercoin, Namecoin and Litecoin are trading substantially higher. But the largest percentage gains were seen in Bitcoin’s little brother LTC. The altcoin is up by 53 cents or just above 16 percent in the past three days alone. Bitcoin is trading higher as well but not to that extent. Let’s go over this week’s mover first and we’ll get back to BTC later in the article.

Litecoin Rockets Higher

Alternative cryptocurrency Litecoin rallied by over 16 percent in the last three days alone. On the chart below we can clearly see this breakout from that long-lasting congestion area. The repressed altcoin only needed a few hours to break several of resistance levels. But ultimately it stopped right at the December highs of $3.82 dollars per coin. This was another level noted in our previous article.

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Both Peercoin and Namecoin have somewhat paused the losses. Peercoin is down by only 0.4 of a cent (just under 1%) while NMC is up slightly by 1.2 cents. The primary driver for the pause seems to be bitcoin’s rally. Big brother hit a high of $439 dollars today. The gains were larger on other exchanges with prices topping out closer to $445 dollars per coin. But let’s start with PPC and we’ll get back to bitcoin later on.

Peercoin Down Slightly

Alternative cryptocurrency Peercoin is down slightly compared to last week. The losses are fairly small right now of around 1 percent. But as can be seen on the chart below, there’s no respite in sight for PPC/USD.

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Ok, captain obvious. There is no analysis here, just pointing what we all can see.

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Bitcoin has made tentative gains after its breakout last week. We’re currently quoted at $424.70. Bitcoin’s little brother LTC is quoted at $3.20 dollars, down 2 cents since last Tuesday. Litecoin is yet to join the bitcoin lead rally.

Bitcoin Gains 1 Percent

In our previous article we wrote that BTC looked set for a break higher. The breakout did lead to some gains and a high of $428.99 was reached on Saturday. But since then we’ve been trading in a small range between $420 and $429 dollars per coin.

Read More https://blog.fxopen.com/small-gains-for-bitcoin/

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Both Peercoin and Namecoin broke down in the past seven days, ending the prolonged range. Peercoin barreled through the support at $0.444 last Thursday, clocking more gains on Friday. The losses for NMC didn’t happen until two days later on Sunday. Both cryptos are currently trading substantially lower compared to one week ago.

Peercoin Breaks Down, Falls Over 7 Percent

Peercoin is trading down by 7.3 percent this week. As we noted above, although the break happened late on Thursday, the bulk of the losses transpired last Friday. Prices hit a low of $0.416 dollars that day before retracing somewhat. Since then we’ve hit a new multi-week low at $0.41 dollars but the pace of the losses has obviously slowed.

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Bitcoin looks set for a break higher. In the past 24 hours we’ve advanced by almost 1%, edging closer to the $427 breakout point. Litecoin is trading higher as well although it’s much further away from the top of its range. But let’s start with big brother and we’ll get back to LTC later on.

Bitcoin Poised for a Break Higher?

Everyone’s favorite cryptocurrency looks poised for a break higher. Today a high of $421.08 was hit on Fxopen, about $5 below the $426.24 swing point. As we noted last week, a decisive breakout above this level could start a new BTC rally.

Read More https://blog.fxopen.com/bitcoin-looks-set-for-breakout/

Topic: Cryptocurrency Analytics from FXOpen - page 30. (Read 42503 times)