May 7, 2021 01:31 GMTCrypto News
MATIC price is in the final stages of composing a new base.
Low volume correction is a prelude to a new opportunity.
IOMAP model suggests MATIC price is facing stiff resistance near current level.
MATIC price enjoyed an impressive rally of over 100% following a multi-week consolidation in March and April but has since drifted lower. Still, the recent price action is revealing a bullish pattern that targets a double-digit gain moving forward.
MATIC price maintains constructive tone
MATIC price corrected almost 30% from the April 30 high to the May 4 low, releasing the overbought condition that resulted from the tremendous rally in late April. As a result of the correction, Polygon may be forming an inverse head-and-shoulders pattern on the intra-day charts. Some time is still needed to finalize the right shoulder, but the symmetry of the pattern and the declining neckline are aligned with a bullish resolution.
Apr 25, 2021 21:06 GMTCrypto News
Ethereum price continues to hold the critical $2,041.42 on a daily closing basis.
Eager bulls should not disregard a potential head-and-shoulders pattern forming.
On-chain metrics speak to more upside, at least in the short term.
Ethereum price strength in the face of broader market weakness is more than anecdotal evidence that it could emerge as the cryptocurrency leader moving forward. For now, ETH is locked between the February high of $2,041.42 and the 161.8% Fibonacci extension of the February decline at $2,504.09, clouding the certainty of a sustainable rally.
Transaction fees, undervaluation, and marginal resistance keep the train on the tracks
Feb 16, 2021 09:47 GMTCrypto News
Dash price shows no signs of exhaustion as it continues on its path towards a 330% bull rally.
On-chain metrics suggest that whales are behind DASH recent price explosion.
With little to no resistance ahead of this privacy coin, a 60% upswing to $400 seems likely.
Dash price broke out of a year-long symmetrical triangle pattern in late November 2020. Since then, the price has surged by nearly 200%.
While the bullish momentum shows no signs of slowing down, DASH is likely to experience another leg up that could hit the 330% target at $400.
Dash price primed for another parabolic run-up
Dash price tested the symmetrical triangle’s upper trendline thrice before violently surging higher. In hindsight, these bounces appear to have been clear signs of accumulation before the 200% bull rally.
Feb 6, 2021 17:22 GMTCrypto News
Ethereum bulls take a break as the market cools off after a massive rally.
CME’s ETH future listing causes a chasm within the cryptocurrency community regarding an incoming price crash.
On-chain transactional data suggests a bounce is likely due to strong buyers’ concentration around the current price levels.
Ethereum price has seen an impressive 135% rally since the beginning of the year. Now that ETH has surpassed its previous all-time high of $1,400, everything seems to be lining up for an upswing towards $2,000 or higher.
CME’s listing increases fears among investors
Chicago Mercantile Exchange (CME) recently announced the listing of Ethereum futures on February 8. As this date nears, the cryptocurrency community is divided into two sectors, those that believe that ETH price will crash after the listing and others who think that it will continue trending upward.
Ether is stable above $1,200 as buyers get ready for the utmost upswing to $1,400. The IOMAP model reveals that Ethereum has little overhead pressure that