Markets Update: Support Turns Into Resistance for Leading Cryptocurrencies

Following Sunday’s sudden rally and retracement, most leading crypto assets have produced sideways consolidation just below the support ranges established during the previous week. The major exceptions to the trend are XRP and ONT, both of which appear to have held above last week’s support zones.

BTC Consolidates Below $4,000

BTC has traded between approximately $3,800 and $3,900 since Sunday’s nearly 10% retracement, with current prices sitting at roughly $3,800 on Bitstamp and $3,900 on Bitfinex.

Markets update: support turns into resistance for leading cryptocurrencies — Btc/usd – bitfinex – 1hr

Sunday’s bearish momentum saw the stochastic RSI of BTC fall below the 20 threshold for the first time since the start of the month. Despite the pullback, the stochastic RSI remains above the 80 threshold across both three-day and weekly timescales as of this writing.

BTC currently has a market capitalization of $67.6 billion and a dominance of 52%.

Prior BCH Support Level Turns Into Resistance

bitcoin cash has failed to break back above $140 since Sunday’s crash, with BCH currently trading for approximately $132.

When measured against BTC, BCH has produced very similar price action, with last week’s support level of 0.036 BTC appearing to now comprise resistance.

bitcoin cash is the sixth largest cryptocurrency with a market capitalization of $2.37 billion and a dominance of 1.81%.

ETH Consolidates Between $140 and $145

Ethereum has also seen last week’s support zone converted to resistance, with ETH failing to break back above $145 since Sunday’s dump. As of this writing, ETH is trading for approximately $140.

When measured against BTC, ETH has similarly failed to retake its previous support zone, trading between 0.0355 BTC and 0.037 BTC over the past 30 hours.

Ethereum is currently the second largest crypto asset with a market cap of $14.5 billion and a dominance of 11.15%.

XRP Recovers Sunday’s Losses

XRP has defied the cryptocurrency meta-trend in recent days, with XRP posting a near-full recovery from Sunday’s losses on Feb. 25, aided by news of ripple being listed on Coinbase Pro, and then retracing by a further 3% today. XRP is trading for $0.325 as of this writing.

When measured against BTC, XRP produced a 7.75% gain on Feb. 25, bouncing from 0.000079 BTC to 0.000085 BTC. Since then, ripple has fallen 2.5% to trade above 0.000083 BTC.

XRP is the third largest cryptocurrency with a capitalization of $13.19 billion and a dominance of 10.15%.

ONT Ranks Among the Week’s Top Gainers

As of this writing, ONT has produced a seven-day price increase of 36%, ranking it as the 26th-strongest gaining crypto asset of the past week. ONT is currently trading for 0.94 USDT, up 83% since Feb. 8.

When measured against BTC, ONT is currently trading for nearly 0.00025, up 56.5% in approximately one week.

ONT is currently ranked 21st by market cap with a capitalization of $309 million and dominance of nearly 0.24%.

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source: https://news.bitcoin.com/markets-update-support-turns-into-resistance-for-leading-cryptocurrencies/

Published at Tue, 26 Feb 2019 11:55:02 +0000

April 2, 2017

The EU Is One Big Fatal Flaw

zerohedge.com / by Tyler Durden / Apr 1, 2017 6:00 PM

Authored by Raul Ilargi Meijer via The Automatic Earth blog,

The true face of the EU is presently on display in Greece, not in Germany or Holland or France. Brussels must first fix what’s going wrong in Athens and the Aegean, and there’s a lot going wrong, before it can move on towards the future, indeed towards any future at all. It has a very tough job in Italy as well, which it’s trying hard to ignore.

You can’t say ‘things are fine in Germany’ or ‘Finland is recovering’ and leave it at that. Not when you’re part of a political -and to a large degree also economic- Union, let alone when you’re preaching tightening -and deepening- that Union. Not when parts of that Union are not only doing much worse than others, but are being thoroughly gutted. Then again, they’re being gutted by the very Union itself, so Brussels -and Berlin, The Hague, Paris- can’t very well feign surprise or deny responsibility.

Of course the European continent needs a ‘body’, some form of organization -and it needs it badly- that will allow its nations to cooperate, in 1000 different ways and fields, but the EU is not it. The EU is toxic. It is turning nations against each other as we speak. So much so that it’s crucial for these nations to leave the union and dismantle the entire operation before that happens, because there will be no opportunity left to do it once the toxicity takes over. The UK should count itself lucky for getting out while it did.

In its present setting, the EU has no future. And, more importantly, there is no mechanism available to change that setting. It should have been insisted on when the Union was founded, or in one of its various treaties after. This never happened, though, and that’s no coincidence, it was always about power. It’s therefore very hard -if not impossible- to see how the EU could be altered in such a way that it has a chance of survival.

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