Blog: Analysis on Market Price/ BTC fell to just $ 5700.
AIPE project has skyrocketed 19 times after listing on CoinBene.
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According to a report from the Wall Street Journal, social media Facebook is seeking investments worth $1 billion for its cryptocurrency stablecoin. It implies that social media users will be able to use cryptocurrency as a means of a legal payment sooner in various platforms, and it will further reach all people’s life benefiting different types of businesses and customers.
Outspoken crypto critic, Warren Buffett has again derided Bitcoin(BTC) for its purported lack of real use value on May 4. Buffett stated that “Blockchain…is very big, but it didn’t need bitcoin. J.P. Morgan, of course, came out with their own cryptocurrency.”
According to AMB Crypto (ambcrypto.com), Vitalik Buterin, the brainchild of the second largest cryptocurrency, Ethereum, spoke at ETH Cape Town on April 2019. Speaking about the forks of Bitcoin, Buterin said that “Bitcoin Cash SV was overrated and considered Bitcoin Cash to be underrated.” Buterin further added: “… they’re [Bitcoin Cash] getting Schnoor signatures ahead of Bitcoin like that’s yeah they’ve got like real technical talent in there.”
As it is all well known, AIPE is the featured IEO project of the second phase of CoinBene MoonBase, and finished its presale phase on 27 April. Token AIPE, released by the AIPE Foundation and listed on CoinBene Moonbase, has skyrocketed 19 times from its initial price of 0.015 USD to 0.28562 USD. Recently, Bitcoin has shown its recovery, and it will be an important moment for cryptocurrency investors to see whether this would be a good opportunity to buy Bitcoin.
Bitcoin (BTC) has surged towards its overhead resistance of $5,900. Investors like the` pickup in momentum. This suggests confidence among the bulls that the leading digital currency will extend its recovery. If the price scales above $5,900, it could be a major sentiment booster. There is a minor psychological resistance at $6,000, but we expect it to be crossed. The next level to watch is $6,480.54. Investors expect the zone between $6,000–$6,480.54 to offer a stiff resistance. Hence, the traders can tighten their stops to protect their paper profits.
Contrary to our bullish view, if the BTC/USD pair fails to sustain above $5,900, it can witness profit booking that can drag it to the 20-day EMA. The pair might also enter into a consolidation between $4,914.11 and $5,900 for a few days. The trend will turn negative on a breakdown of $4,914.11. Until then, the bulls will continue to buy the dips. Traders can trail the stops on the remaining long positions to $5,400.
Currently, both the moving averages are sloping up, and the RSI is also trying to break out of the negative divergence. This is a bullish sign. It shows that the path of least resistance is to the upside.
Ethereum (ETH) has broken out of the downtrend line. It is currently facing resistance at the $180–$190.54 zone. If the bulls scale this zone, the digital currency can rally to $225 and above it to $256. Traders can buy above $192 and keep an initial stop loss of $146. As the risk to reward ratio is not very attractive, the position size can be about 40% of usual. We will suggest to trail the stops higher at the first available opportunity.
Our bullish view will be invalidated if the ETH/USD pair fails to ascend the overhead resistance zone and breaks below $148. Currently, the 20-day EMA is starting to turn up, and the RSI has risen into positive territory. This suggests that the bulls have a minor advantage in the short term. The next couple of days are critical as it will set the stage for the next leg of the sustained move.
Bitcoin Cash (BCH) has broken out of the downtrend line, which is a positive sign. The 20-day EMA is gradually turning up, and the RSI has risen into positive territory. This shows that the bulls have the upper hand.
The BCH/USD pair can now move up to $335.62 and above it to $363.30. We expect this level to act as a stiff resistance. If the price turns down from one of these resistance levels, the pair will trade in a range for a few days.
EOS has broken out of the downtrend line and the 20-day EMA. This suggests that the recent pullback is over and it will now march toward $6.0726 and above it $6.8299. The 20-day EMA is gradually turning up, and the RSI has jumped into positive territory. This shows that the bulls have an advantage in the short term.
Nonetheless, if the bulls fail to sustain the current levels, it will indicate profit booking that can drag the EOS/USD pair back to the 20-day EMA. A breakdown of the uptrend line will complete a rising wedge pattern and shift the advantage to the bears. Until then, any dip towards the 20-day EMA can be used as a buying opportunity.
AIPE / USD
AIPE is the featured IEO project of the second phase of CoinBene MoonBase, and finished its presale phase on 27 April. Token AIPE, released by the AIPE Foundation and listed on CoinBene Moonbase, has skyrocketed 19 times from its initial price of 0.015 USD to 0.28562 USD. This IEO project attracts many cryptocurrency investor’s attention all over the world.
AIPE has put efforts to stabilize fluctuation of the price in the early stage of its listing. The price of AIPE has been finally stabilized, and it will be adjusted again based on its value in the future.
Source | Cointelegraph
Author | Rakesh Upadhyay；Content | QZ
Analysis | TradingView