Dogecoin Rockets 30% as Crypto Traders Flee Bitcoin, Ethereum
2021-05-04 19:00:00
Rich Dvorak,
Analyst
DOGECOIN (DOGE/USD), BITCOIN (BTC/USD), ETHEREUM (ETH/USD) – CRYPTO NEWS & PRICE OUTLOOK
Dogecoin price action is exploding higher today with the crypto up 30% to trade near $0.60
Bitcoin continues to lag across major cryptocurrencies as BTC/USD paces a -5% decline
Ethereum peeling back from all-time highs looks driven by rotation into other alt-coins
Volatility has accelerated across asset classes during Tuesday’s trading session and the cryptocurrency space is no exception. Dogecoin (DOGE/USD) spiked 30% higher to a fresh record above the $0.60-price level. The massive influx of demand for Dogecoin even crippled the Robinhood’s platform, though trading has since come back online. The largest crypto by market cap, Bitcoin (BTC/USD), is down about -5% intraday and on the month.
USD/JPY Hits Session Low as ISM Manufacturing Misses Forecast
2021-05-03 14:45:00
Rich Dvorak,
Analyst
USD/JPY PRICE OUTLOOK: US DOLLAR EXTENDS PULLBACK ON ISM MANUFACTURING PMI MISS
US Dollar under pressure as Monday’s trading session gets underway
USD/JPY price action sliding to daily lows following softer PMI data
ISM manufacturing was reported at 60.7 versus the 65.0 forecast
The US Dollar is hitting new session lows right now in the wake of disappointing PMI data just released by the Institute of Supply Management. USD/JPY currently trades 34-pips lower intraday with the move to the downside nearly erasing last Friday’s sharp rise. According to the DailyFX Economic Calendar, the ISM manufacturing PMI crossed market wires with a reading of 60.7, which was below the 65.0 forecast. The weaker-than-expected PMI report also reflects a deceleration in manufacturing activity from last month’s print of 64.7, but the sector continues to expand nonetheless.
US Dollar weakness was prevalent for most of April with the DXY Index sinking nearly -3% lower, but the Greenback rebounded sharply into month-end. Where is EUR/USD, GBP/USD, and USD/CAD headed next?
Bitcoin (BTC/USD) Pressured as Ethereum (ETH/USD) Probes New Highs
2021-04-29 22:25:00
Rich Dvorak,
Analyst
BITCOIN (BTC/USD) & ETHEREUM (ETH/USD) NEWS, ANALYSIS & PRICE FORECAST:
Bitcoin price action peeling back to have another look at technical support near $50,000
Ethereum hit a fresh record high but the cryptocurrency is struggling to maintain altitude
Advertisement
Bitcoin and Ethereum traded fairly mixed during Thursday’s trading session. BTC/USD price action is pacing an arguably modest -3.5% decline while ETH/USD is off roughly -1.3% after hitting a new intraday record high at the 2,800-price level. Elsewhere in the realm of popular cryptocurrencies, Litecoin and Dogecoin dropped -2.7% and -5.5% respectively, though Ripple was able to eke out a 1.6% gain.
Tesla (TSLA): The Market Darling of Tech, ESG and Meme Themes
2021-04-30 15:09:00
Izaac Brook,
James Stanley,
Tesla (TSLA) Talking Points:
Tesla is commonly associated with Technoking (actual title at the company) Elon Musk.
The company has been at the forefront of Electronic vehicles and this has driven the stock price to extremely strong valuations.
The 2020/2021 market mania helped to drive Tesla as one of the most valuable companies on the planet despite the fact that they still have relatively minor market share in autos.
Advertisement
TSLA On talk of autonomous vehicle tech, no meme stock has been in focus longer than Tesla (TSLA). Some call it a cult stock rather than a meme stock (if there is a difference). Tesla stock has risen over 700% since January 2020. A 5 for 1 stock split in August 2020 helped keep the share price at a more accessible level while also reducing attention from Tesla’s absurd share price appreciation.