Cryptocurrency Analytics from FXOpen - page 33.

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Both Bitcoin and Litecoin stayed range-bound since our last update. One BTC is selling for $327.24 at the moment while LTC/USD is quoted at $3.12 dollars per coin. Let’s start with big brother bitcoin first.

Bitcoin Range-bound after Rally

Bitcoin is trading range-bound after the end of its rally last Thursday. This shouldn’t come as a surprise to our readers. Back then we wrote that with the end of the bitcoin uptrend, the crypto-market is now trading in limbo.

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The crypto-market is back into undecided territory after bitcoin ended it’s rally. Prices broke the $300 barrier today, putting an end to the (almost) month-long rally. The uptrend started back on October 14th when BTC/USD broke out above $250 dollars. Bitcoin is currently trading at $314 dollars per coin.

Peercoin Ends Rally

Peercoin ended its short-lived uptrend after prices had a major reversal from the highs, prompted by BTC losses. We topped out at $0.579 on November 4th and we are currently quoted at 37 cents flat, a massive 36 percent lower.

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Bitcoin retraced sharply since our last update, falling $123 dollars from the $459 high. In percentage terms, this hi to low decline amounted to 26%. Litecoin was disproportionally affected by the BTC correction, falling a fantastic 35 percent and effectively ending its short-lived rally. But let’s start with big brother first.

Bitcoin Retraces Sharply After Highs

Bitcoin retraced sharply after reaching new 13-month highs last Wednesday. The fall took us briefly to $336.22 but prices didn’t stay low for long and soon BTC/USD stabilized above the $350 handle. One coin is selling for $371.72 dollars at the moment. Last week we warned our readers that the parabolic gains are likely not sustainable:

”It’s hard to see this continuing without a sizable retracement in the next few days. This doesn’t mean that shorts are recommended because trends can often last far longer then anyone expects.”

Read More https://blog.fxopen.com/bitcoin-retraces-litecoin-rally-ends/

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After staying unaffected by the major bitcoin rally for two weeks, Peercoin and Namecoin are finally starting to take notice. Both cryptocurrencies have now joined bitcoin in uptrends with Peercoin up by 25 percent compared to the prices noted in our last article while NMC is trading higher by 15.2 cents, or 43% in percentage terms.

Peercoin Rallies by 45 Percent

Peercoin staged a strong rally last week, hitting a high of $0.579 yesterday. This was a gain of 45 percent from the $0.40 rally starting point. But as we can see on the chart below, we’ve had a major retracement since then and PPC/USD is currently quoted at $0.456, ”only” 14 percent above the breakout level.

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It has been a great week for bitcoin bulls as prices surged to a new high of $363.31 just minutes ago. The total gain since our last update is now at $78 dollars or a fantastic 27% in percentage terms. Meanwhile the rest of the crypto-market is finally joining the party, with Litecoin nearing $4 dollars as I type this.

Bitcoin Surges 27 Percent

Bitcoin gained $78 dollars or 27% since last Tuesday. But the gains from the start of the rally near $250 are even larger, at $108 dollars or a massive 43.2 percent. On the chart below we can see that in the last two days the BTC/USD has gone parabolic. Yesterday we closed higher by $21 dollars and today we’re up by $33 dollars and it’s only lunchtime.

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Since our last update, BTC/USD hit another milestone at $300 dollars. We are currently quoted at $304.97 dollars per coin, almost $20 dollars higher since Tuesday. But as bitcoin continues to make new highs, the rest of the crypto-market stays flat. Peercoin briefly entered into a downtrend while both Litecoin and Namecoin are still range-bound.

Peercoin Down but Not Out

Peercoin broke below the $0.349 swing low on October 23rd. Prices continued to fall until a low of $0.333 was hit on October 25th. But here the losses stopped and PPC/USD is currently quoted at $0.361 dollars.

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Alternative cryptocurrency Litecoin is still trading range-bound. The altcoin is trading basically unchanged since our LTC update last week, still quoted at $3.02 dollars per coin. Meanwhile bitcoin continued to roar ahead, breaking new highs.

Bitcoin Hits $288.90 on FxOpen

In the past seven days bitcoin managed to break the $270 resistance figure and head higher. Prices hit a new high of $288.90 two days ago, very close to the $290 weak resistance. This caused another sharp retracement down to $274 dollars per coin but the lows didn’t last long. Bitcoin is currently quoted at $285.24, very close to the Sunday highs.

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Last week we wrote about how Peercoin and Namecoin refused to follow big brother higher. A lot has changed since then and now both cryptos have broken to the downside. In the past seven days PPC/USD fell by 1.7 cents or 4.6 percent. Meanwhile NMC/USD hit a low of $0.346 today before stabilizing and is currently quoted at $0.354 or 1.1 cents lower. In percentage terms this is around 3%.

Peercoin Breaks to the Downside

Alternative cryptocurrency Peercoin has broken to the downside. Prices hit a new monthly low at $0.349 on October 20th. But since then we have rallied back up somewhat. Today we hit a high of $0.367, almost 5 percent above the lows. But the highs were used by the bears to sell into and PPC is currently down to $0.353 dollars per coin.

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It has been an exciting week for bitcoin. Prices topped out at $272.96 then fell over $16 dollars in a major retracement. Meanwhile little brother Litecoin failed to follow bitcoin and rally as well.

Litecoin Fails to Rally

Alternative cryptocurrency Litecoin didn’t follow big brother in the latest up-move. The advance by the bulls got rejected right in that $3.12-$3.18 resistance area marked on the chart below. Prices only traded as high as $3.1510 last week before being pushed back below the $3 dollars handle.

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Bitcoin finally broke above the $250 figure today. Prices traded as high as $253.59 in today’s trading session, before a retracement took BTC down to $251.84 dollars per coin. But this new rally has yet to translate into gains for other crypto-currencies. While Litecoin is trending higher, it still hasn’t broken the crucial $3.19 resistance. And both Peercoin and Namecoin remain firmly stuck in the middle of their respective ranges.

Peercoin Still in a 3 Cents Congestion

Alternative crypto-currency Peercoin is still trading within the 3 Cents range outlined in our article last week. The top of this congestion area stands at $0.393 while the bottom is at $0.363. As we can see on the chart below, PPC/USD is currently trading in the middle of its range.

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Bitcoin broke the important $245 level just an hour ago. Prices got as high as $247.50 which is exactly where we are trading right now. The bullish BTC push translated into gains for Litecoin as well. Bitcoin’s little brother advanced over 5 cents today, or 1.6 percent.

Bitcoin Breaks $245 Dollars

Bitcoin broke the important $245 handle today. This was the September high for the crypto, as well as the daily high on October 6th and October 11th. On October 7th and October 12th we got as close as $244.95. We kept bumping up against $245 for the past seven days, so it’s no surprise to finally see this level broken.

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Both Peercoin and Namecoin are trading barely changed since our update last week. Peercoin is down by only 0.6 cents, that’s just 1.5%. Meanwhile NMC declined by 1/5 of a cent, or only 0.5 in percentage terms.

Peercoin Still Trading in Tight Range

Alternative cryptocurrency Peercoin is still stuck in a tight 3 cents range. The high of this congestion area stands at $0.393 while the low is at $0.363. The low has been moved by 0.2 of a cent after brief foray lower on October 3rd. This shows the importance of having a buffer above and below the current range. False breakouts are plentiful in this type of market environment.

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Bitcoin is ending closer to a breakout on the upside. Since our last update, BTC/USD advanced by $4 dollars, or just below 2 percent. Litecoin on the other hand has traded mixed and is still stuck at the $3 dollar handle.

Bitcoin Edges Closer to Breakout

Bitcoin is edging closer to an upside breakout. The bulls have managed to string together several days of gains, pushing BTC almost 2 percent higher. The chart below shows the slow moving but steady march higher since September 22nd.

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Both Peercoin and Namecoin continued to trade within a range during September. Peercoin has been stuck in a 10 cents congestion area, between 32 and 42 cents. For Namecoin the range is a bit wider and extends from 33 to 46 cents per coin.

Peercoin Stuck in a 10 Cents Range

Alternative cryptocurrency Peercoin ended the last week of September same as the first one, stuck in a range. The top border of this congestion area is at the $0.422 swing high, while the bottom is at $0.321. We are currently quoted at $0.382 dollars for one Peercoin.

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Both Bitcoin and Litecoin and slowly inching closer to the top of their respective ranges. Big brother bitcoin advanced by just over $8 dollars since our last update. Meanwhile Litecoin clocked gains of 18 cents or 6% in percentage terms.

Bitcoin Rallies by $8 Dollars

Bitcoin rallied slightly by $8 dollars or 3.6 percent since last Tuesday. In today’s trading session, a new multi-day high of $237.69 was reached. But soon after the congestion curse struck again with BTC/USD falling to a daily low of $234. We are currently quoted at $236.50 dollars.

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Both Namecoin and Peercoin are trading flat during the past seven days. For NMC/USD, the total range since last Thursday has been 5.1 cents

Namecoin Still Range-bound

Alternative cryptocurrency Namecoin continues to trade in a range. We are currently quoted at $0.375 dollars per coin, only 0.3 cents above the price noted last Thursday. The low marked during the past seven days is at $0.36 while the high stands at $0.41. In percentage terms, this 5 cent range equals to just over 13 percent. This may seem like a lot but keep in mind that the usual weekly range for Namecoin is closer to 10 cents, or double the current value.

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Another week has passed and not much is changed. Both Bitcoin and Litecoin and still consolidating.Bitcoin is currently quoted at $228.49 dollars, just 41 cents below the price noted in last week’s article. You can see the effect of bitcoin’s consolidation across the crypto-market. For example Litecoin is trading at $2.82, about 4 cents higher, just 1.4 in percentage terms.

Bitcoin Still Range-bound

While BTC is pushing on the lower bounds and making new lows, it has yet to make a decisive breakdown. In the past seven days, the total range has been only $10 dollars and 59 cents, with a high at $234.59 and a low at $224. Today we hit new multi-day lows at $224 but this was quickly followed by a sharp rally to $230.48.

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All of the four crypto-currencies we follow have now entered a consolidation period. Peercoin had a sharp correction of almost 24 percent after last week’s 44% surge. Namecoin also declined, by 28 percent when measured high to low. The consolidation period is largely fueled by big brother bitcoin. The crypto has been trading in a tight $5 dollar range for the past four days now.

Peercoin Corrects by 24 Percent

Alternative cryptocurrency Peercoin had a sharp correction of almost 24 percent in the past seven days. After hitting a high of $0.422 last Tuesday, PPC retraced all the way down to $0.321, erasing most of the gains from the 44% surge. But staying true to the consolidation phase, the crypto didn’t stay down for long and is currently quoted at $0.369.

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Both Bitcoin and Litecoin entered a consolidation period last week. Big brother bitcoin is trading around the $230 dollars mark while litecoin’s move higher got rejected at $3 dollars.

Bitcoin Consolidates Around $231 Dollars

Everyone’s favorite crypto-currency has entered a consolidation period. During the past seven days, BTC/USD moved in a range between a low of $226.05 and a high at $245.80. We are currently quoted at $228.90.

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All four major cryptocurrencies, bitcoin, litecoin, peercoin and namecoin, have ended their downtrends in the past five days. For BTC/USD and LTC/USD the end came on September 6th, with a decisive break above $231 and $3 respectively. For Peercoin and Namecoin the downtrend stopped one day later on the 7th of September, with a break above the previous high at 38 cents for PPC and 43 cents for NMC. We noted both of these levels as trend stoppers in our previous update on the two cryptocurrencies.

Peercoin Rallies 44 Percent

With a massive rally of 13 cents or 44 percent from the $0.291 low, PPC/USD put an end to the losses. One coin is currently selling for 38.9 cents, 34 percent higher from the August 25th low.

Topic: Cryptocurrency Analytics from FXOpen - page 33. (Read 42644 times)