Bitcoin Price Forecast: BTC/USD trends in a narrow channel between SMA 20 and SMA 50
BTC/USD has dropped from $9,457.68 to $9,432 in the early hours of Thursday. The price is sandwiched between SMA 20 and SMA 50 and has found resistance at the downward trending line. The Elliott Oscillator has had a red session, following two straight green sessions. The RSI indicator is trending at the neutral zone as the bulls and bears have effectively canceled each other out.
Ripple Price Analysis: XRP/USD keeps trending horizontally in the lower part of 20-day Bollinger Band
XRP/USD went up from $0.1923 to $0.1926 this Wednesday as the bulls took back control after a bearish Tuesday. The price is trending horizontally in the lower half of the 20-day Bollinger Band and struggling to break above the $0.1933 resistance level. The MACD shows decreasing bearish market momentum, while the Elliott Oscillator has had two consecutive green sessions.
Ethereum Market Analysis: ETH/USD drops down, while researchers scratch their head over mysterious multi-million transaction fees
A few days back, multiple transactions on the Ethereum network were charged transaction fees up to $2.6 million. Vitalik Buterin, the co-founder of Ethereum, had suggested that the enormous fees “may actually be blackmail," but some experts have debunked this claim.
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Bitcoin: BTC shows weakness, bears aiming for $90,000 mark
Bitcoin price hovers around $97,000 on Friday after losing nearly 5% in the last three days. CryptoQuant weekly report shows that activity on the Bitcoin network has declined to its lowest level in a year.
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