Ethereum Price Analysis: ETH Trading Near Crucial Juncture

ETH price continues to face a strong resistance near the $138 and $140 levels against the US Dollar. The price failed to gain strength above the $139 level and remained below the $140 pivot. Yesterday’s key bearish trend line is intact with resistance near $138 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains at a risk of a sharp decline towards the $133 support before it could bounce back. Ethereum price is trading below important resistances against the US Dollar and bitcoin. ETH must break…

Bitcoin Average Daily Trading Volume on Rise after Bitcoin Cash Hard Fork

Average daily trading volume of the world’s largest cryptocurrency Bitcoin has reached its fresh highs since April, 2018. Independent crypto data researcher Kevin Rooke brought the community’s attention to bitcoin volume via his Saturday tweet. The analyst revealed that traders, in March, changed hands for/to the cryptocurrency to the extent of approx $10 billion. In comparison, those numbers were as low as $6.25 billion in November 2018, the month in which bitcoin price plunged 35 percent owing to the Bitcoin Cash hard fork fiasco. Bitcoin Volume Since March 2018 |…

Bitcoin Trading Volume Tops $11 Billion For First Time In Nearly a Year

Daily trading volume for the world’s largest cryptocurrency bitcoin exceeded $11 billion Friday, the most observed in a 24-hour period since April 25 of last year. At that time, the average price of bitcoin was $8,845, while today the crypto asset is listed for less than half the price, currently trading at $3,951 as per CoinMarketCap. However, the return in volume is potentially a sign investors aren’t losing interest in bitcoin despite the less than favorable market conditions. Interestingly, the amount of bitcoin trade volume had closely aligned with it’s…

Crypto Market Trading Sideways: XLM Shoots Up, Bitcoin Cash, EOS, TRX Analysis

The total crypto market cap is facing a strong resistance near the $129.0B and $130.0B levels. Bitcoin cash price recovered above the $132 resistance and it could climb towards the $135 level. EOS price is back above the $3.60 level, with a positive angle. Stellar (XLM) price gained more than 5% and broke the $0.1000 and $0.1050 resistances. Tron (TRX) is trading above the $0.0220 level and it could test the $0.0230 resistance. The crypto market is trading sideways below key resistance levels. Stellar (XLM) gained recently, while bitcoin (BTC),…

Ethereum Price Analysis: ETH Trading Near Make-or-Break Levels

ETH price is struggling to trade above the $133 and $134 resistance levels against the US Dollar. The price is holding the $130 support, it is likely to make the next move soon. This week’s crucial bearish trend line is intact with current resistance at $132 on the hourly chart of ETH/USD (data feed via Kraken). The pair could either break the trend line and rally or decline below the $130 support in the near term. Ethereum price is following a bearish structure against the US Dollar and bitcoin. However,…

Bitcoin Price Trapped in Key Make-or-Break Trading Range

View Bitcoin is trapped in a trading range defined by the 200-week simple moving average and the 200- week exponential moving average, currently at $3,404 and $4,106, respectively. Therefore, the outlook as per the weekly chart is neutral. A weekly close (Sunday, UTC) above $4,106 would confirm a longer-term bearish-to-bullish trend change and could fuel a rally toward $5,000. A weekly close (Sunday, UTC) below $3,404 could revive the sell-off from November highs above $6,500 and allow a drop to levels below $3,000. The odds of a drop to the…

Kraken’s $1 Billion Futures Trading Volume Prove Crypto Demand is Very High

Kraken’s acquisition of the UK-based cryptocurrency futures provider Crypto Facilities led the platform on a high trading volume spree, according to their latest statements. Sui Chung, the head of indices and price products at Crypto Facilities, confirmed that the trading volume on their futures platform increased by 565% following Kraken’s $100 million acquisition. In total, the platform recorded $1 billion worth of trades in over a 30-day timeline across all its products: bitcoin, ether, litecoin, bitcoin cash, and XRP. At the same time, Crypto Facilities noted a higher number of…

Futures Trading Nears $1 Billion in First Month at Kraken Crypto Exchange

Cryptocurrency futures provider Crypto Facilities has seen “tremendous growth” since being acquired by U.S.-based crypto exchange Kraken last month, an executive said. Sui Chung, the subsidiary’s head of indices and pricing products, told CoinDesk that trading volume has increased more than 500 percent since Kraken acquired the futures exchange at the beginning of February for $100 million. Crypto Facilities is perhaps best known in the U.S. for providing bitcoin and ether reference rates to CME Group, which lists bitcoin futures contracts. In total, nearly $1 billion in crypto futures has been traded…

Circle Introduces Market Surveillance to Fight Insider Trading, ‘Pump and Dump’ Schemes

Blockchain finance company Circle will use digital financial services company Nice Actimize’s market monitoring tools to fight manipulation, a press release confirmed on Feb. 27. Nice Actimize, which forms a branch of Israeli enterprise software giant Nice Ltd., offers professional client tools in the areas of financial crime, risk and compliance. Circle will use Actimize’s Cloud Markets Surveillance (CMS) to proactively prevent and detect malicious trading activity on its own platform, including insider trading, layering and even so-called pump and dump schemes. “Adapting innovative technology solutions, such as the financial…

Bitcoin Awaits Decisive Price Move as Trading Range Tightens

View Bitcoin’s retreat from highs near $3,900 seen yesterday has poured cold water over the bull mood generated by Wednesday’s quick recovery from lows near $3,650. Therefore, the immediate outlook is neutral. A UTC close above $3,897 (previous day’s high) would validate Wednesday’s long-tailed candle and open the doors to re-test of the last week’s high of $4,190. This looks likely as early signs of bullish reversal have emerged on longer duration charts. A break below $3,658 (Wednesday’s low) would strengthen the bearish view put forward by last Sunday’s high-volume…