Bitcoin (BTC) entered an ascending channel in mid-September and has continued to trade sideways activity near $19,500. Due to the bullish nature of the technical formation and a drop in sell pressure from troubled miners, analysts expect a price increase over the next couple of months. Independent analyst @el_crypto_prof noted that BTC's price formed a "1-2-3 Reversal-Pattern" on a daily time frame, hinting that $20,000 could flip to support soon. $BTC #Bitcoin Yes, the price action of $BTC is really boring, isn't it? But if you look closely, a textbook "1-2-3 Reversal-Pattern" has formed in the last few days, which …

Bitcoin (BTC) and other riskier assets slipped on Friday as traders scrutinized macro indicators that suggest the Federal Reserve would continue to hike rates. Nonetheless, the BTC/USD pair remains rangebound inside the $18,000-$20,000 price range, showing a strong bias conflict in the market. BTC price holding above $18K since June Notably, BTC's price has been unable to diver deeper below $18,000 since it first tested the support level in June 2022. As a result, some analysts believe that the cryptocurrency is bottoming out, given it has already corrected by over 70% from its record high of $69,000, established almost a …

Ethereum has witnessed a substantial drop in its daily active address (DAA) count over the last four months, raising fears about more downside for ETH (ETH) price in the coming weeks. Stagnant Ethereum price spooks investors The number of Ether DAA dropped to 152,000 on Oct. 21, its lowest level since June, according to data provided by Santiment. In other words, the plunge showed fewer unique Ethereum addresses interacting with the network. Interestingly, the drop comes after Ether's 80%-plus correction from its November 2021 high of around $4,850. This coincidence could mean two things: Ethereum users decided to leave the …

The current crypto bear market has induced panic, fear and uncertainty in investors. The dire situation started when the global crypto market capitalization dropped below the $2 trillion mark in January 2022. Since then, the price of Bitcoin (BTC) has decreased by over 70% from its all time-high of $69,044.77 it reached on November 10, 2021. Similarly, the values of other major cryptocurrencies such as Ethereum (ETH), Solana (SOL), Avalanche (AVAX), and Dogecoin (DOGE) have decreased by around 90%. So does history tell us anything about when the bear market will end? Let’s start by examining the causes of the …

Cardano (ADA) price is in the process of painting its seventh red monthly candle in a row as the token fell to its lowest level since February 2021. The trend saw ADA's price rising nearly 800% to $3.16 between February 2021 and September 2021, followed by a complete wipeout of those gains entering October 2022. Amusingly, the entire price action took the shape of the "Burj Khalifa," the world's tallest skyscraper in Dubai. Ada Khalifa pic.twitter.com/KE2SxTO3bN — Trader_J (@Trader_Jibon) October 19, 2022 ADA price eyes 35% price crash The ADA price correction began primarily in the wake of a similar …

The price of Quant Network (QNT) eyes a sharp reversal after an impressive 450% rally in the past four months. QNT's downside outlook takes cues from a flurry of technical and on-chain indicators, all suggesting that investors who backed its price rally have likely reached the point of exhaustion. Here are three reasons why it could be happening. Quant's daily active addresses drop Interestingly, the period of QNT's massive uptrend coincided with similar upticks in its number of daily active addresses (DAA). This metric represents the number of unique addresses active on the network as a sender or receiver. As …

Bitcoin (BTC) has been trying to break above the $20,500 resistance for the past 35 days, with the latest failed attempt on Oct. 6. Meanwhile, bears have displayed strength on four different occasions after BTC tested levels below $18,500 during that period. Investors are still unsure whether $18,200 was really the bottom because the support level weakens each time it is tested. That is why it’s important for bulls to keep the momentum during this week’s $510 million options expiry. The Oct. 21 options expiry is especially relevant because Bitcoin bears can profit $80 million by suppressing BTC below $19,000. …

On this week’s The Market Report show, Cointelegraph’s resident experts discuss how much longer this crypto bear market could possibly last and when we could see some volatility back in the markets. To kick things off, we break down the latest news in the markets this week: Bitcoin price edges closer to $20K as ‘way worse’ US data boosts stocks A relief bounce on risk assets looks in store after Empire State Manufacturing Index numbers for October fall far short of expectations. The numbers fell to -9.1 for October, heavily below the forecast -4.3 and September’s -1.5 reading. Some industry …

The amount of Bitcoin (BTC) flowing out of cryptocurrency exchanges picked up momentum on Oct. 18, hinting at weakening sell-pressure that could help BTC price avoid a deeper correction below $18,000. Bitcoin forming a "bear market floor" Over 37,800 BTC left crypto exchanges on Oct. 18, according to data tracked by CryptoQuant. This marks the biggest Bitcoin daily outflow since June 17, on which traders withdrew nearly 68,000 BTC from exchanges. A spike in Bitcoin outflows from exchanges is typically seen as a bullish signal because traders remove the coins from platforms that they wish to hold. Conversely, a jump …

Ether (ETH) price has been unable to close above $1,400 for the past 29 days and it has been trading in a relatively tight $150 range. At the moment, the $1,250 support and the $1,400 resistance seem difficult to break, but two months ago, Ether was trading at $2,000. The current price range for Ether simply reflects how volatile cryptocurrencies can be. From one side, investors are calm as Ether trades 50% above the $880 intraday low on June 18. However, the price is still down 65% year-to-date despite the most exciting upgrade in the network's 7-year history. More importantly, …

While Bitcoin (BTC) investors may not consider the U.S. midterm elections as a significant event, an eerie fractal from 2018 may provide a clue to what could happen before the year ends. Bitcoin to hit $12K-$14K after midterms? Comparing Bitcoin's price actions that led to the midterm elections of 2018 with the ones in 2022 shows a strikingly similar bear market trend. For instance, BTC price trended lower in 2018 while holding a horizontal level near $6,000 as support, only to break below it after the midterm elections. In 2022, the cryptocurrency has halfway mirrored this trend. Its price now …

XRP XRP has made considerable gains over the past month as traders continue to shower confidence on Ripple's legal win against the U.S. Securities and Exchange Commission (SEC). For instance, XRP price has gained 25% thirty days after Ripple and the SEC filed for an immediate ruling on whether or not XRP sales violated U.S. securities laws. In comparison, Bitcoin BTC and Ether ETH are down 4% and 11% over the same period, respectively. Now, a flurry of indicators, ranging from on-chain to technical, hints XRP can continue its uptrend going into 2023. XRP price "bull pennant" Bull pennants are …