Cryptocurrency Analytics from FXOpen - page 32.

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Smaller altcoins continue to swing around wildly. Yesterday Namecoin and Peercoin surged by 12.5% and 17 percent respectively. Today both cryptos have surrendered most of those gains as bitcoin took a dive lower. Big brother fell by $14 dollars this morning, from $395.86 to a low $381.67. We are currently trading at $385 dollars per coin, closer to the daily lows then the highs.

Peercoin Surges by 17 Percent

Peercoin surged by 17 percent yesterday, from $0.414 to a high of $0.483. Today we saw a lot of those gains disappear as BTC dropped and PPC/USD initially fell to a low 43 cents flat. One Peercoin is selling for $0.451 right now, around the middle of the daily range.

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Bitcoin is trading lower compared to Thursday. Prices fell by $23 dollars last Friday, from $407 to $384 dollars. Since then we have been moving up slowly and one coin is selling for $394 dollars right now. Litecoin had a similar few days, falling by 14 cents on Friday and recouping some of the losses in the past four days. But as usual, let’s start with big brother bitcoin first.

Bitcoin Trading Lower

The swings for everyone’s favorite crypto-currency continue. Two weeks ago prices fell by almost $100 dollars, from $443 to a low of $349.82 dollars. From here we rallied all the way to an interim high of $425.50 dollars, only to surrender most of those gains in the later part of last week. We are currently trading at $394.67 dollars. On the chart above you can see the recent swings in the BTC price.

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It’s been a volatile week for cryptocurrencies. Bitcoin first crashed below the $400 handle, hitting a low of $349 dollars on Saturday. This prompted both Peercoin and Namecoin to reverse their rallies and head lower. But in the next few days a sharp retracement started, bringing BTC/USD back above the $400 round level. We are currently quoted at $416 dollars per coin. The knock-on effect on PPC and NMC saw their losses reversed as well, whipsawing trend-following traders again.

Peercoin Reverses Trend on Bitcoin

As noted above, prompted by Bitcoin, Peercoin reversed its uptrend and headed lower. We mentioned that this was a possibility in our previous PPC article. The surge higher in prices wasn’t broad-based and the two major cryptocurrencies Bitcoin and Litecoin were flat during that rally.

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Bitcoin entered a new downtrend last week after breaking the important $400 figure on Friday. Prices subsequently fell by $50 dollars, or just over 12 percent, to a new monthly low of $349.82. Its little brother Litecoin followed the move lower with losses totaling 13.5 percent. As usual we’ll start with bitcoin first.

Bitcoin Breaks $400 Dollars

After trading in a range for close to a month BTC/USD finally made its move. Prices barreled past the important $400 figure on Friday, closing at $386 dollars per coin. The losses continued for another day on Saturday as bitcoin hit a new one-month low at $349 dollars. We have since bounced back somewhat to $386.33 dollars.

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Both Namecoin and Peercoin have rallied strongly today. Namecoin is up by 9 percent while PPC/USD is trading higher by close to 12 percent. However doubts remain about the sustainability of these rallies. The two major crypto-currencies, Bitcoin and Litecoin, haven’t moved much and are slightly down compared to our last update. Bitcoin is currently quoted at $432 dollars, down $13 dollars since Tuesday. Its little brother Litecoin is down to $3.48, from $3.51 two days ago.

Peercoin Higher by 12 Percent

Alternative cryptocurrency Peercoin is trading higher by 5.3 cents, or almost 12 percent today. This adds to previous gains of 1.2 cent since last Thursday. We are currently quoted at $0.482 dollars.

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Bitcoin is trading off the highs as what seems to be China-related panic buying subsides in the past few days. Bitcoin’s little brother, Litecoin, is also down after yesterday’s liquidity spike retraced completely.

Bitcoin Off $455 Highs

Everyone’s favorite cryptocurrency is trading at $445 flat right now. This is almost $10 dollars below last week’s high at $454.98. That high reached seems to be (at least in part) due to panic buying after the People’s Bank of China guided the Yuan 0.51% down, to its lowest level since 2011. This led to market panic both in China and across the world.

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Bitcoin jumped about over $20 dollars today, from $429.59 to a high of $451.05. Everyone’s favorite cryptocurrency is currently quoted at $449 dollars flat. But smaller altcoins are lagging behind. Namecoin is up 3 percent while Peercoin is only higher by just under 2.5 percent today.

Namecoin up 3 Percent

Namecoin had a couple of close calls with the 40 cents level earlier in the week. The pair dipped to a low of $0.404 on Saturday. But the coin has since bounced back somewhat, mainly propped up by bitcoin’s move higher. The alternative cryptocurrency is trading higher by 1.3 cents to $0.422 or +3 percent today.

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It’s been a slow week for the crypto-market. Bitcoin traded in a tight $16 dollars range during the past seven days while Litecoin stayed within its consolidation area.

Bitcoin in 3.8 Percent Range

Bitcoin continues to trade relatively calm, with prices stuck in a $16 dollars range last week. In percentage terms this is around 3.8 percent. We are currently quoted at $431 dollars per coin, only $2 dollars higher compared to last Tuesday.

Read More https://blog.fxopen.com/slow-week-for-cryptocurrencies/

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The bitcoin rally ended during the weekend as prices broke the $423 swing low. Meanwhile its little brother Litecoin stayed range-bound for another week.

Bitcoin Rally Ends

The (almost) month-long BTC rally looks to be finally winding down after we broke below $423 on Saturday. In our last article on Thursday we noted this level as a potential game changer. After the bears broke this figure we saw BTC/USD fall all the way to $401.15 dollars per coin.

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Both Peercoin and Namecoin tested the important support levels noted in our previous article. The bears were unable to take prices lower and the altcoins have since bounced back somewhat. Still, both of them are down since last Thursday. The rejection at the lows was largely helped by big brother bitcoin rallying $13 dollars to $450 during the past two days.

Peercoin Rally Ends

Peercoin bounced at the $0.40 level after a sizable move higher since Tuesday. The initial move lower took PPC/USD to $0.391 but from here we moved back up to $0.417 dollars per coin.

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The last few days saw a general retracement across crypto-markets. Bitcoin retraced $35 dollars or 7.6 percent after making new yearly highs on Fxopen. This prompted Litecoin to fall by a similar percentage and lead to an end of its rally.

Bitcoin Falls 7.6 Percent

Bitcoin fell by $35 dollars after hitting a new high on Fxopen. Prices briefly pierced the previous high of $459.20 to make a new yearly high at $460.48. As we’ve previous mentioned, the yearly high reached on other bitcoin exchanges back in November was closer to $504 dollars per coin.

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While bitcoin has gained $37 dollars or 9 percent since last Thursday, both Namecoin and Peercoin are trading little changed. Namecoin is actually down by 0.7 cents compared to one week ago, while PPC/USD is higher by the same amount.

Peercoin Up by 1.6 Percent

Alternative cryptocurrency Peercoin failed to join in the bitcoin rally. Prices advanced by only 0.7 cents, from $0.418 to $0.425 dollars per coin, for a total gain of 1.6 percent. Prices traded in quite a wide range last week, hitting $0.446 on Saturday but later falling to a low of $0.409 on Monday. But ultimately we stabilized around $0.425, this is where PPC has been trading for the past two days.

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Bitcoin is getting close to the yearly highs set on Fxopen at $459.20 dollars per coin. We are currently quoted at $454.80, after trading as high as $457.60 earlier in the day. Meanwhile alternative cryptocurrency Litecoin is still struggling to make noticeable gains.

Bitcoin Nears Yearly Highs

Bitcoin is currently trading $4.40 dollars below the highs set on Fxopen back in November. However the highs on most other exchanges were around $504 dollars per coin. On the chart below we can see that since around November 20th the trend has been up, with very little retracements in between. We only had two major down days and those losses were quickly reversed in the sessions that followed.

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Bitcoin surged higher on Tuesday, breaking the $400 handle and hitting $421.59 dollars at its peak. From here we retraced somewhat but BTC/USD is still trading almost 6 percent higher since our last update, currently at $414 dollars per coin. However alternative cryptocurrencies Namecoin and Peercoin are lagging behind at +2.1% and +3% since the start of trading on Tuesday.

Peercoin Rally Still Underway

Peercoin is quoted at $0.418 right now, 2.4 cents or 6% higher since last Thursday. But when compared to big brother Peercoin underperformed, bitcoin gained $59 dollars or 16.6 percent since December 3rd.

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Bitcoin broke above the important $380 handle on December 6th, triggering a new BTC rally. So far the gains have been relatively small, $11 dollars or just under 3 percent. It’s little brother Litecoin is still mired in a congestion area, with no end in sight.

Bitcoin Breaks $380 Dollars

Bitcoin broke the important $380 resistance on Sunday. This level was noted in our previous article as the starting point for a new rally. Since then prices have traded higher by $11 dollars or 2.9 percent. We are currently quoted at $391 dollars per coin.

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Both Namecoin and Peercoin have lost a lot of the gains since last Thursday. Namecoin is down by 13 percent while PPC/USD is quoted at $0.394, lower by just over 5 percent since our update.

Namecoin Down by 13 Percent

Namecoin is trading down to $0.421 from $0.484 last week, prompted by large losses in bitcoin. But while BTC/USD is currently lower by 7.8% to $353 dollars per coin, Namecoin is down a much larger 13 percent. From the highs the decline is even bigger at around 22 percent.

https://blog.fxopen.com/namecoin-down-peercoin-rally-in-jeopardy/

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Bitcoin broke out above the top of its range at $340 dollars last week and proceeded to rally almost $40 dollars to a high of $379.80. Here the gains topped however as BTC hit a previous congestion area. Litecoin again followed bitcoin, first higher, then lower. But let’s start with big brother first.

Bitcoin Breakout Hits $380 Dollars

The bitcoin breakout above $340 hit a high of $379.80 before falling back. The correction that followed lead to a low of $353 flat. We are currently quoted at $360.73, close to the lows for the day.

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Cryptocurrencies rallied across the board today as bitcoin surged higher by $26 dollars, from $324.56 to $350.78 at the moment. This prompted the altcoin market to join in the move. Peercoin gained over 13 percent in the last two days and NMC/USD is up by a fantastic 29 percent.

Peercoin Rallies by 13 Percent

As noted above, Peercoin rallied over 13 percent in the last two days, from $0.366 to $0.416 right now. Few hours ago prices were even higher, trading at 44 cents per coin at one time. On the chart below we can see that PPC/USD has broken outside of its range.

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Bitcoin fell by over 2 percent since our last update, from $327 to $318 dollars per coin. Meanwhile little brother Litecoin is down by 4 cents or just over 1% in percentage terms.

Bitcoin Now 12 Days in Range

Bitcoin fell by $9 dollars since last Tuesday, or about 2.5 percent. The fledgling cryptocurrency has been range-bound for twelve full days now. One coin is selling for $318.13 dollars at the moment. On the chart below we can see that we’re still in that range roughly between $300 and $340 dollars per coin.

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Both Namecoin and Peercoin have settled back into their ranges. Peercoin is currently quoted at $0.387, below the 40 cents former breakout point, while NMC is at $0.397, also below its former breakout level at 41 cents. While both crypto-currencies are trading higher by about 4 percent since our last update, the overall picture remains undecided.

Peercoin Still Range-bound

Peercoin is has settled down below the former breakout level at $0.40. On the daily chart below we can see that the week-long rally faded as quickly as it appeared. The whole formation looks like a V-shaped reversal.

Topic: Cryptocurrency Analytics from FXOpen - page 32. (Read 42503 times)