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Bitcoin & cryptocurrency news today, price & technical analysis
Mon, 22 Feb 2021 19:09:56 +0000






Mon, 22 Feb 2021 20:00:02 +0000


February is the largest monthly candle on record for Bitcoin price dollar for dollar. But with only a few days left in the shortest month of the year, things could soon turn extremely negative for the leading cryptocurrency by market cap.

Here’s why March has traditionally been a bad month for Bitcoin, and what that could mean about the current crypto market uptrend.

February Posts Landmark Bullish Cryptocurrency Monthly Candle

From the February open until the highest recent peak, Bitcoin price added nearly $25,000 per coin to its price tag before pulling back.

And while whales caused a large selloff today back down to $47,000 at one point, the leading cryptocurrency by market cap has already set the record for largest monthly candle in terms of total dollars moved.

Related Reading | Forget 2021, Here’s How High Bitcoin Price Can Go By 2026

All kinds of records are being broken left and right, and the asset is in full price discovery mode. And while the uptrend seems unstoppable as of late, February has often been a month where short term trends come to an end.

Last February was the early 2020 peak prior to the pandemic hitting and panic setting in, and following the 2017 top, Bitcoin fell from $20,000 to $5,800. But its actually March that’s a lot bloodier than February historically.

Bitcoin Bleeds In March Each Year, Is This Time Different?

March 2020 was when Black Thursday struck, and Bitcoin plunged from $10,000 to $3,800 in just days alongside stocks and other assets. The March before that was green, but closed below $4,000 while the cryptocurrency was in the lowest accumulation trading range.

Related Reading | Here’s How High Bitcoin Could Go If 2017 Repeats

Five years in a row before that saw nothing but red candles. Even during the historic bull market, nearly every March was red on the way up to $20,000. Will the same thing happen again even with Bitcoin this bullish?

bitcoin march

Only two out of nine March candles closed green | Source: BTCUSD on TradingView.com

Bitcoin is working on its fifth green monthly candle in a row, and is more than likely going to close February in the green. Next month’s candle closing green would match the current record for consecutive bullish closes, and put the current Bitcoin rally much more on par with the first bull market.

Interestingly, the first bull market is just one of two instances that had a green March finish. Even then, the sixth green candle close ultimately led to two months of downside, so the risk of a larger bull market correction remains high over the coming months, weeks, and days.

With most March candlesticks closing red, how do you think next month will close for Bitcoin?

Featured image from Deposit Photos, Charts from TradingView.com


Mon, 22 Feb 2021 17:19:53 +0000

Most people think metadata is something you only have to worry about if you are running an SEO campaign. However, most people do not realize that every task you perform creates metadata that contains every piece of information about the task you just performed. Even if you click a picture, the photo will have a metadata file that will contain all your personal information such as your location, device information, date and time information, etc.

Someone can misuse this information in more ways than you might realize. Therefore, only protecting your data is not enough if you want to stay completely secure. You have to protect your metadata as well. Here are a few reasons why protecting your metadata privacy will make you completely protected.

  • The most important step of ensuring your privacy is encrypting the information you are transferring, and you can do that by protecting your metadata.
  • Metadata privacy secures not only the information you are sending but also the information of the sender.
  • As metadata files contain information about the sender, it also includes information on the receiver. By ensuring the privacy of metadata, you can ensure the privacy of the receiver as well.

Whatever you do online, sending & receiving any data, HOPR provides the tools and framework for a privacy-first layer zero of the Web3 ecosystem, ensuring everyone has control of their privacy, data, and crypto assets.

Why is the DeFi world waiting for HOPR?

HOPR provides complete network-level metadata privacy, which is extremely important in the digital age. Metadata is one of the crucial yet elementary parts of totally anonymous financial transactions. In the Decentralized Finance space, all the transactions take place over the internet. While the platforms encrypt these transactions, they can create caches and metadata that contains detailed information about the transactions.

HOPR understands the importance of total metadata privacy and provides complete network-level metadata privacy. The HOPR networks transfer all the data via multiple “hops” to eliminate any prying eyes and encrypt the transaction in the process. This way, the metadata is hidden that helps in masking the origin and destination, as well as size, sender & recipient of the data transaction.

Another advantage of using the HOPR network is its custom-made second-layer scaling based on probabilistic payments that immediately give a value to the HOPR token. This helps in avoiding high transaction fees on the blockchain.

The outstandingly strong & huge community of HOPR and what this means?

HOPR rewards its community members for helping others to transfer data private & secure. This decentralized network, which in testnets already had up to 3’000 nodes running, has a unique proof-of-relay mechanism that rewards every node runner with HOPR tokens. The platform incentivizes the community members to run HOPR nodes in exchange for HOPR tokens while contributing to online data privacy.

HOPR is launching the HOPR tokens in a matter of a week, and there is an exciting buzz going around the community. Even before the token launch, more than 20’000 members have already subscribed to TG channels in 11 different languages.

HOPR has always prioritized its community members by rewarding their efforts on several HOPR testnets.

The token launch comes after a first-of-its-kind DAO (decentralized autonomous organization) experiment. The timings and logistics of the token launch were decided by the HOPR Genesis DAO, a community of more than 3,000 HOPR testnet participants, independent of the project team itself.

More than 1,500 votes were cast on the final proposal that is an unprecedented level of turnout in the DeFi space. The DAO voted for a community presale, followed by a public distribution on the decentralized finance platforms Balancer.finance and Uniswap.exchange that are two popular DeFi tools for providing decentralized liquidity. In total, 85m HOPR tokens will be distributed.

The high involvement of the core community shows passion and great interest in the meaning of the project. Therefore, long-term growth can be expected for the project. By incentivizing the collective efforts of their community members, HOPR shows endless gratitude and appreciation towards them.

Why is Meta Data Privacy the next big thing?

The exponential global data traffic growth has led to an increase in security risk, due to the many webpages grabbing all kinds of data to find the right clients, grow and serve customers with matching desires. What sounds like a great customer serving is at the same time a big risk, as everybody might be influenced, based on the profile of others.

Data privacy is just not enough. HOPR is about to revolutionize how we will send data in the future. Similar to TOR but incentivized so that everybody can earn a token when supporting the HOPR network. Every community member that runs a HOPR node will be rewarded for their efforts and contribution to digital privacy.

The company even offers a dedicated HOPR hardware node in order to relay more data and earn more tokens. Anyone can easily run the HOPR node on their own hardware by using HOPR’s easy-to-install software. And it is open-source, so the installation is totally free. You only pay when you use it with HOPR token. These HOPR tokens will be given to the HOPR Node runners, as they will send your data, in a private & secure manner.

With ever-increasing security risks, we have to ensure our digital privacy is as good as possible. We have been focusing on securing the data, but metadata privacy is the next level important if not a larger security concern. As metadata contains information about the data, sender, and receiver, it is vital to keep it secure from any vulnerabilities.

Just 1 funny example so you understand the difference between data privacy & metadata privacy:

Here you see:

Sender / receiver / weight of the item / time sent / and the form

If this would be split into all equally looking HOPR balls – and they all would be sent through different delivery channels … the data & the metadata would be protected.

Image by ElasticComputeFarm from Pixabay


Mon, 22 Feb 2021 17:00:16 +0000

Without a doubt, dApps will continue to disrupt the crypto world as companies are investing heavily in the development of the DeFi ecosystem. Likewise, investors are willing to earn more returns by plowing various cryptocurrencies back into DeFi, which in a way is also responsible for the growth.

Decentralized Finance, or DeFi, is gaining more credence from crypto enthusiasts daily with the development of dApps, which utilize the Ethereum blockchain. The blockchain’s smart contract eliminates the need for middlemen during transactions, therefore, creating secure, efficient and fast transactions.

DeFi Projects You Should Follow in 2021

Following the rise in popularity of DeFi in 2020, many crypto users are on the lookout for projects that can help them maximize profits this year. Some of the projects you can follow in 2021 include:


Aave is built on the Ethereum blockchain and is best described as a lending pool that gives both lenders and borrowers access to 17 different cryptocurrencies including ETH, SNX, YFI and stablecoins like DAI.

To incentivize users and facilitate lending and borrowing, the platform has two types of tokens; the aTokens and AAVE tokens. The aTokens are issued to lenders who deposit to the liquidity pool so that they can earn interest on their deposits. The AAVE token, which is the native coin, offers more benefits such as discounted fees when borrowers use AAVE as collateral.

A phenomenal attribute of the Aave protocol, which is why crypto users are crazy about it, is the “flash loan” feature. This provides an avenue for advanced crypto users to have access to flash loans, borrow as much money and repay within the same transaction very fast. Users can profit from this through arbitrage, collateral swapping and wash trading.

Just recently, on the 26th of January, AAVE reached a new all-time high at $278. 90 with its TVL (Total Value Locked) reaching a new high of $3.75 billion. This is a result of the spike in demand for flash loans by investors. Thus, making Aave a great project to follow this year.


Compound is simple and user-friendly for both beginners and advanced traders alike.

It is a money market protocol that lets users deposit cryptocurrencies to earn interest, or borrow other crypto against the deposited tokens.

Lending and borrowing on Compound is easy, as transactors do not have to hassle with the interest rate. The interest rates for lending and borrowing are automatically fixed and adjusted algorithmically based on supply and demand. A great attribute of Compound is that it requires only a crypto wallet and internet connection to participate in lending and borrowing on the platform.


It is definitely a game-changer in the DeFi space. After more than a year of delivering blockchain-based tools to 50,000 users, Nimbus has shifted to DeFi. The launch of their DeFi platform and native utility token NBU on the 27th of January shows the potential of their new DeFi functionality as a market cap of $35 million was reached just within 2 days after the launch.

Nimbus aims to become a one-stop-shop for those willing to diversify their portfolio without having to switch between multiple native tokens of different projects. On their new platform, Nimbus is set to launch four different decentralized apps in 2021: a peer-to-peer lending dApp, crypto Arbitrage-Trading dApp, IPO Hub dApp, and Crowdfunding dApp.

One advantage of the bold unprecedented move by Nimbus is that individual investors can now access shares at traditional IPOs as well as take part in start-up equity and crowdfunding, which before now was restricted only to institutional investors and finance hoarders.

The DeFi community keeps a close eye on the project in anticipation of their NBU token listing on Uniswap scheduled for February 24. This will likely give a new boost to the already successful Nimbus DeFi Platform launch.

Curve Finance

Curve Finance is also an automated market maker where anyone can add their assets to the various liquidity pools to earn profits. Curve runs on the Ethereum blockchain and is a decentralized exchange liquidity pool for efficient stablecoin trading.

The design of Curve finance allows for swapping stablecoins with low fees and slippage. Also, due to the dynamic system of Curve, it can also be used to swap tokenized versions of coins that are in a relatively close price range.

This is amazing because users can swap between tokens, such as swapping the various versions of bitcoin, like sBTC, renBTC, WBTC. This feature on Curve offers more options for its users, making it a great platform to follow this year.


Simply put, Synthetix is a protocol that issues synthetic assets on the Ethereum blockchain. Synthetic assets are instruments in the form of ERC-20 contracts called “Synths” that return interest on another asset, without the need to hold the asset.

The platform helps in the maturity of decentralized finance by introducing non-blockchain assets such as synthetic commodities, synthetic cryptocurrencies, synthetic inverse cryptocurrencies, synthetic fiat currencies into the crypto ecosystem.

On January 15, Optimism, an Ethereum scaling company, soft-launched Optimistic Virtual Machine (OVM) to solve Ethereum’s transaction problems. As a result, Synthetix co-founder, Kain Warwick announced that staking SNX, the platform’s native token, on OVM is now possible.

Final thoughts

Although, the mentioned projects are not the only ones available in the crypto world. However, they exhibit great potentials that can help improve the crypto ecosystem for all users.

 Image by Tumisu from Pixabay


Mon, 22 Feb 2021 16:43:14 +0000

An American teenager from Miami, Florida earned 0.7 BTC in one day. His name is Karl Miller and he is a Miami Country Day School student.

A local media asked him several questions.

The boy says that he stumbled upon an article about the RJVX12 algorithm on the Internet. The company mentioned there offered passive income on cryptocurrency up to several percent a day, but the teenager didn’t have any money to invest. The company suggested that he use their affiliate program, where you can invite your friends and colleagues as investors and get a percentage of the transaction.

According to Karl, he sent out his partner link to a dozen boards and told hundreds of people about the possibility of investing. For several weeks every night after school, he was working with this affiliate program and when the quarantine began, he started dedicating almost his whole day to it.

As the teenager told us, he has already begun to earn at least $200-300 per day when one of the investors who went through his referral link on the 10th of February made a deposit of 10 bitcoins. That’s how Karl immediately received a commission of 0.5 BTC (at the rate of that date it was more than $ 20000).

Right now Karl wants to give some of the money to his parents and set some of it aside for college. He plans to continue working as a partner of the company and keep earning money from the affiliate program.

The RJV12X algorithm is a way of analyzing and predicting the cost forecast of securities, shares, and cryptocurrencies. It was developed in the summer of 2020 by a group of scientists from Oxford University along with analysts from FBC Limited.

At first, the goal of the joint action was to create an AI that would independently predict the situation, but after several years of failed affords, the project team rethought their actions.

It was decided not to teach AI to make decisions on its own, but to set the goal of developing a universal algorithm for predicting the cost forecast, based on which the analysts themselves would predict the “bullish” or “bearish” scenario of a particular security.

In summer 2020, a team of scientists and financial analysts successfully completed the work on the algorithm and managed to achieve phenomenal results. Based on the RJVX12 algorithm, the accuracy of the analysts’ forecasts from FBC limited reached an incredible 97.6%.

Disclaimer: This is a sponsored post. NewsBTC doesn't vouch for the accuracy of its contents or any claims made therein 


Mon, 22 Feb 2021 16:01:33 +0000


Ethereum fell Monday in sync with the cryptocurrency market’s other top assets, including Bitcoin, Binance Coin, Polkadot, and Cardano.

The second-largest cryptocurrency touched a record high of $2,041 during the weekend session that prompted daytraders to secure their profits. That led to a considerably larger sell-off throughout the weekend and Monday session, taking the ETH/USD exchange rate lower by as much as 26.11 percent to $1,508.

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency
Ethereum slips amid broader crypto market sell-off. Source: ETHUSD on TradingView.com
Ethereum slips amid broader crypto market sell-off. Source: ETHUSD on TradingView.com

Elsewhere in the cryptocurrency market, almost every high-cap asset suffered major intraday losses.

Bitcoin, the flagship digital asset having an extremely high positive correlation with Ethereum, plunged up to 19.99 percent from its session peak above $58,000. Likewise, Binance Coin, which notched closed the previous weekly session 171 percent high, dropped by 44 percent on Monday.

On the whole, the cryptocurrency market wiped off $149 billion off its valuation.

Support Held

Bulls were able to offer support as Ethereum continued its plunge into the US session Monday. So it appears, they capped the cryptocurrency from falling below its 50-day simple moving average (the blue wave). The ETH/USD rate fell towards it briefly before pulling itself back upward by 13 percent.

Meanwhile, the bounce-back attempt took the pair close to another support wave (the green one) called the 20-day exponential moving average.

Both the curves have limited Ethereum’s downside corrections in the past. In January, traders attempted to break the 20-EMA about nine times—and each attempt took the ETH/USD rates to a fresh high. Meanwhile, any slipover below the 20-EMA had bulls treat the 50-SMA as support.

Meanwhile, Teddy Cleps, an independent market analyst, noted that the ETH/USD rates could still achieve a new all-time high, providing it maintains support above a so-called cloud price floor.

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency
Ethereum eyes $5,000, as per Teddy Cleps. Source: ETHUSD on TradingView.com
Ethereum eyes $5,000, as per Teddy Cleps. Source: ETHUSD on TradingView.com

“Ethereum getting squeezed between $2,000 and the cloud,” Mr. Cleps said. “[The] same exact price action that we had a few weeks back, when price was getting squeezed between the cloud and the 2017 all time high. Have patience, $5,000 is coming.”



Mon, 22 Feb 2021 11:00:56 +0000


Key Bitcoin Takeaways

  • Bitcoin plunged by almost 5.5 percent on Monday after setting up a record high in the previous session.
  • The one-day drop is the largest since February 10, pointing to extended intraday declines as the European session matures.
  • Long-term sentiment remains bullish on growing corporate adoption against the US dollar depreciation.

Bitcoin (BTC/USD) sold off heavily throughout the Asian and early European session on Monday after achieving a new record high of $58,367 in the previous session.

The flagship cryptocurrency was down by up to 5.5 percent after the London opening bell, flirting with short-term technical support near $55,550 for an extended bearish breakout move. In doing so, BTC/USD targets the $52,000-54,000 as its next downside target.

Looking from a broader perspective, the pair appeared to have been testing an upward sloping trendline that acts as a price floor to a Rising Wedge pattern. Technically, a break lower risks sending the Bitcoin price lower by as much as the Wedge’s maximum height (which is about $10,000-long).

That puts the cryptocurrency on a corrective course to $45,000—about 20 percent lower from the latest peak.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin’s Rising Wedge pattern points to a 20 percent correction ahead. Source: BTCUSD on TradingView.com
Bitcoin's Rising Wedge pattern points to a 20 percent correction ahead. Source: BTCUSD on TradingView.com


…rising wedges have failed previously while determining Bitcoin’s short-term bias.

There is a massive possibility that Bitcoin locates a support area above $50,000 before it resumes its upward momentum. The reason remains its corporate/institutional adoption against the long-term risks brought by inflation and fiat depreciation.

Tesla, MicroStrategy, Square, Stone Ridge Holdings, and many other corporate firms have added billions of dollars of combined Bitcoin worth to their balance sheets in the last few months.

Crypto economist Ben Lilly noted in his latest report that the bitcoin accumulation spree among Wall Street firms outran the cryptocurrency’s supply. That led to a liquidity crisis, which persisted amid higher exchange BTC withdrawals and upped retail demand.

Mr. Lilly added that investors have flocked into the Bitcoin market as a means to escape the falling US dollar market. He further noted that those investors would not need to sell the cryptocurrency to realize their profits. Instead, they would collateralize their BTC holdings via decentralized finance services to earn yields.

“In doing so, investors can potentially side-step capital gains tax on their bitcoin while enjoying its price appreciation,” said Mr. Lilly. “And when bitcoin is six figures, it begs the question.”



Mon, 22 Feb 2021 07:08:50 +0000


Ripple remained stable above $0.5000 and rallied above $0.6000 against the US Dollar. XRP price tested $0.6500 and it is likely to continue higher in the near term.

  • Ripple started a fresh increase above the $0.5500 and $0.6000 resistance levels against the US dollar.
  • The price is now trading well above $0.5800 and the 100 simple moving average (4-hours).
  • There was a break above a crucial contracting triangle with resistance near $0.5480 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair is trading nicely above $0.6000, and it is likely to continue higher towards $0.6500 and $0.6800.

Ripple’s XRP Price is Gaining Bullish Momentum

Recently, there was a sharp decline in ripple’s XRP price below the $0.5000 support zone. The price even spiked below $0.4500, but there was a quick recovery from $0.4326.

It started a strong increase above the $0.5000 resistance, outperforming bitcoin and ethereum. There was a clear break above the 76.4% Fib retracement level of the retracement level of the downward move from the $0.5842 high to $0.4326 low.

There was also a break above a crucial contracting triangle with resistance near $0.5480 on the 4-hours chart of the XRP/USD pair. The pair rallied above the $0.6000 resistance and it settled above the 100 simple moving average (4-hours).

Ripple (XRP)

Source: XRPUSD on TradingView.com

It spiked above the 1.236 Fib extension level of the downward move from the $0.5842 high to $0.4326 low. It tested the $0.6450 resistance zone and it is now trading nicely in a positive zone.

A clear break above the $0.6450 and $0.6500 resistance levels could pump the price further towards the $0.6880 level. The next major resistance on the upside is near the $0.7200 level. Any more gains could lead the price towards the $0.7500 level.

Dips Limited in XRP?

If ripple fails to continue higher above $0.6500, it could correct lower. An initial support on the downside is near the $0.5840 and $0.5800 levels.

The main support is now forming near the broken triangle and $0.5500. A downside break below the $0.5500 support zone could lead the price towards the $0.5200 zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now well above the 50 level.

Major Support Levels – $0.5850, $0.5650 and $0.5500.

Major Resistance Levels – $0.6200, $0.6500 and $0.7000.



Mon, 22 Feb 2021 06:43:03 +0000

Fractal Protocol offers a better experience for users and a fairer market for content creators

When you visit a website you will these days have to give consent for cookies, which are used to identify users as a returning visitor, analysing their use of any specific website, giving them access to third-party services and building a profile of their particular interests in order to show them relevant adverts on other websites.

Cookies cannot be processed if the user doesn’t consent for them and users can withdraw their consent and cancel the processing of cookies by removing them from their device, but most popular web browsers are set to allow the storage of cookies. Whilst the cookies by themselves can’t research user information, they do store personal information that is input into websites’ order forms, registration pages, payment pages and more.

The good, the bad, and the invasive

Having played a role in our browsing experiences for over 25 years, cookies collect and share both personal and browsing data of web users and, as the duopoly of Google and Facebook has grown, third-party cookies, in particular, have meant that security vulnerabilities have become more prevalent. On any one website a user could be exposed several times to potentially malicious cookies that collect their personal information without their knowing and with the eyes of the world locked more onto the screens of their devices than ever before, this is more of a concern than ever before for anyone that values their privacy.

But at the same time, online advertising remains to be one of if not the most effective ways for brands and businesses to reach their target audience, and third-party cookies have been a major way for these businesses to continue reaching pertinent consumers. Accurate, cost-effective targeting of potential consumers browsing the web is what is keeping many businesses around the world profitable in an uncertain economic climate, but with Google announcing that it plans to get rid of third party cookies entirely by 2022, e-commerce and web-based businesses that have previously relied on the siloed data of one the internet’s biggest giants are going to lose a powerful tool for data collection.

With both Firefox and Safari, the world’s two major web browsers, also announcing that their software would block third-party cookies by default, this spells a troubling time for the majority of publishers, content creators and digital marketers that have been forced to rely on Facebook and Google’s behemoth datasets. What’s even more is that although third-party cookies may be gone by next year, the Universal IDs that are being introduced as first-party counterparts will most likely still result in privacy issues for end-users.

A better way

So what is the solution? As content creators and digital marketers decide on how to approach the impending data drought, Fractal Protocol has emerged with a solution that looks to benefit all parties involved. Fractal Protocol looks to replace the ad cookie and give users back control over their data by creating data commons that will enable fair competition against the currency ad market duopoly.

Built as an open-source zero-margin protocol, Fractal Protocol defines a basic standard for exchanging data in a fair and open way, with an incentive system for the sale and purchase of ad inventory built on a transparent and trustless infrastructure. With the introduction of an ecosystem that rewards users for sharing and verifying their data, Fractal Protocol also democratizes the access and availability of data for both publishers and advertisers, giving them tools and methods to leverage valuable and verified user data.

“We believe that content creators should get paid for what they do and users should have self-sovereignty over their own data; simply because the infrastructure is open, free, and accessible.” – Julian Leitloff, Co-Founder & CEO Fractal Protocol

Having raised over $2m in a private round led by a variety of reputable blockchain, ad market and venture capital funds, the project this week announced its plans to launch a public investment round on the popular decentralized fundraising platform Polkastarter on Thursday, 25th February 2021.

Evolving privacy legislation and platform changes by the duopoly of Google, Facebook and also Apple means that very soon there will be less data available not only to brands but to the entire online advertising ecosystem – Fractal Protocol marks an exciting change in the way data can be collected, shared and earned without compromising the privacy of the end-user.

Image by Bernadette Wurzinger from Pixabay


Mon, 22 Feb 2021 05:18:20 +0000


Ethereum failed to stay above $1,900 and corrected lower against the US Dollar. ETH price is correcting gains and it seems like to might test $1,750 before a fresh increase.

  • Ethereum is correcting lower from the $1,975 swing high and trading below $1,900.
  • The price is now testing the $1,850 support, but it is below the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $1,850 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could dip further, but the bulls are likely to remain active near $1,750.

Ethereum Price is Correcting Gains

Ethereum made another attempt to settle above $2,000, but it failed. The recent swing high was formed near $1,976 before ETH price started a fresh decline.

There was a break below the $1,950 and $1,900 support levels. Ether price even tested the $1,850 support level and it is now trading well below the 100 hourly simple moving average. A low is formed near $1,853 and the price is currently consolidating losses.

An initial resistance on the upside is near the $1,880 level. It is close to the 23.6% Fib retracement level of the recent drop from the $1,976 high to $1,853 low.

Ethereum Price

Source: ETHUSD on TradingView.com

The first major resistance is near the $1,910 level or the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the recent drop from the $1,976 high to $1,853 low. The main resistance is now forming near the $1,940 level and a connecting bearish trend line on the hourly chart of ETH/USD.

To start a fresh increase, the price must settle above $1,910 and then gain momentum above the $1,950 level. In the stated case, the price could easily clear the $2,000 level.

Dips Supported in ETH?

If Ethereum fails to extend its rise above the $1,950 level, it could continue to move down. The first major support is near the $1,850 level.

There is also a major bullish trend line forming with support near $1,850 on the same chart. A clear break below the trend line support and $1,830 could open the doors for a move towards the $1,750 support zone in the near term.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly gaining momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now well below the 50 level.

Major Support Level – $1,850

Major Resistance Level – $1,950



Mon, 22 Feb 2021 03:18:06 +0000


Bitcoin price remained in a positive zone and it traded to a new all-time high above $58,000 against the US Dollar. BTC is now correcting gains, but it is likely to continue higher towards $60,000.

  • Bitcoin extended its rise above $57,000 and it traded to a new all-time high at $58,350.
  • The price is still well above $55,000 and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $55,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could continue higher and the bulls are likely to aim a test of $60,000.

Bitcoin Price Remains In Strong Uptrend

After a strong close above the $55,000 level, bitcoin price extended its upward move. BTC broke the $56,000 and $57,000 resistance levels. It even cleared the $58,000 level and traded to a new all-time high at $58,350.

Recently, there was a minor downside correction below the $57,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $54,000 swing low to $58,350 high. The price even spiked below the $57,000 level, but dips were limited.

Bitcoin found support near the $56,200 level. The 50% Fib retracement level of the upward move from the $54,000 swing low to $58,350 high is acting as a support. There is also a key bullish trend line forming with support near $55,000 on the hourly chart of the BTC/USD pair.

Bitcoin Price

Source: BTCUSD on TradingView.com

On the upside, the price is facing a short-term resistance near the $57,500 and $58,000 levels. A clear break above the $58,000 resistance could open the doors for a new all-time high. In the stated case, the bulls are likely to aim a test of $60,000.

Dips Limited in BTC?

If bitcoin fails to clear the $58,000 resistance zone, it could correct lower. An initial support on the downside is near the $56,000 level.

The first major support is near the $55,000 level. If there is a downside break below the trend line, $55,000, and the 100 hourly simple moving average, there could be a drop towards the $52,000 support.

Technical indicators:

Hourly MACD – The MACD is slowly gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is close to the 50 level.

Major Support Levels – $56,000, followed by $55,000.

Major Resistance Levels – $57,500, $58,000 and $60,000.


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