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Ripple Price Analysis: XRP Falls Below $0.26 But A Bullish Crossover Could Suggest A Trend Reversal

XRP saw a small decline of around 1.42% over the past 24 hours and it currently trades at $0.2590. The cryptocurrency has seen a further drop of 10.63% over the past week and it fell below the support at $0.26.  XRP remains the third-largest cryptocurrency with a market cap of $11.35 billion. Looking at the XRP/USD 1-Day Chart: Since our last analysis, XRP continued to go lower below the support at $0.2670 until reaching $0.2584. From above: The nearest level of resistance lies at $0.2811. Above it, resistance lies at $2880 (100-days EMA) and $0.2890. Following this, resistance is found at at $0.30, $0.308 (200-days EMA), $0.3177, and $0.3262 (bearish .382 Fib Retracement). From below: The nearest level of support lies at $0.2584. Beneath it, support can be found at $0.2518 and $0.25. Further support is expected at $0.24, $0.2345, $0.22, and $0.2153. The trading volume remains high but is diminishing slowly. The RSI is well beneath the 50 level which shows that the sellers are in complete control over the market momentum. However, the Stochastic RSI has been in oversold conditions for a while, as we wait for a bullish crossover signal to send the market higher. Looking at the XRP/BTC 1-Day Chart: Against Bitcoin, XRP has pretty much traded sideways as it managed to remain supported above the 3000 SAT level. From above: The nearest level of resistance lies at 3112 SAT. Above this, resistance is found at 3200 SAT (100-days EMA), 3324 SAT, 3375 SAT, and 3500 SAT. Following this, resistance can be expected at 3568 SAT (bearish .382 Fib Retracement), 3666 SAT, and 3739 SAT. From below: The nearest level of support lies at 3000 SAT. Beneath this, support is found at 2904 SAT (.618 Fib Ret), 2853 SAT, 2798 SAT, 2752 SAT, 2710 SAT, and 3607 SAT. The trading volume is also slowly diminishing here. The RSI is marginally below the 50 level to show a weak bearish dominance. The Stochastic RSI is in oversold conditions as we wait for a bullish crossover signal to send the market higher. The post Ripple Price Analysis: XRP Falls Below $0.26 But A Bullish Crossover Could Suggest A Trend Reversal appeared first on CryptoPotato.

Ethereum's price could recover after formation of falling wedge pattern

The Ethereum community is preparing for several developments on the network, including the Istanbul hardfork in December and Ethereum 2.0. However, despite news of such developments, not a lot of impaThe post Ethereum's price could recover after formation of falling wedge pattern appeared first on AMBCrypto.

Bitcoin Sentiment Falls While Maker and Komodo Post Strong Gains

The cryptocurrency market is mixed as the new trading week begins with Bitcoin failing to rally away from critical technical support. A number of altcoins including XRP, Bitcoin Cash and Stellar are following along. Maker and Komodo are posting strong gains. Maker is up by over 15 percent since last Friday, while Komodo is posting intraday gains of 9.5 percent. Excluding Bitcoin, the total market capitalization is currently at $80.3 billion, a gain of 1.25 percent from last Friday. Bitcoin Going forward, BTC should remain under technical pressure while trading below the $8,500 level, the current location of Bitcoin’s 50-day moving average. The current monthly low for BTC is located at the $8,360 level. A fall below this support could provoke a wave of technical selling and push the cryptocurrency towards the psychological $8,000 marker. Key intraday resistance is found at the 200-period moving average on the four-hour time frame, at $8,660, and the former weekly trading high, at $8,950. According to the Market Flow Index from Scalpex, which measures the strength of buying and selling pressure, Bitcoin is a strong sell. BTC/USD by TradingView Maker Maker’s rise is most likely attributable to today’s release of Multi-Collateral DAI. The highly-anticipated update sets up a framework for using multiple currencies as collateral for its loans. Launching with just BAT as an additional option for now, other tokens are set to be added soon. Other features unrelated to collateral were also added with this update, making it a strong fundamental driver for MKR. Komodo Komodo has recovered about its 50 and 200-day moving averages, after falling to a new all-time trading low in late-October. Going forward, KMD buyers need to advance the cryptocurrency above the $1.97 level to invalidate a bearish head and shoulders pattern on the daily time frame. Key technical support is found at the $0.93 and $0.63 level, key upcoming resistance is found at the $1.14 and $1.40 levels.   KMD/USD by TradingView Overall Sentiment According to the latest data from The Tie, sentiment toward the entire cryptocurrency market is neutral at 52%. Bitcoin has the weakest sentiment among the top-10 cryptocurrencies at 36 percent. Meanwhile, Bitcoin Cash has the strongest at 58 percent. The post Bitcoin Sentiment Falls While Maker and Komodo Post Strong Gains appeared first on Crypto Briefing.

Crypto Market And Bitcoin Might Decline Further: BCH, EOS, TRX, ADA Analysis

The total crypto market cap is following a bearish pattern below the $230.0B level. Bitcoin price is facing an increase in selling pressure below $8,600 and $8,500. EOS price is currently struggling to stay above the key $3.350 support area. BCH price extended decline and broke the $280 and $265 support levels. Tron (TRX) price is currently trading near the key $0.0185 support area. Cardano (ADA) price is showing positive signs above the $0.0420 support. Bitcoin and the crypto market cap are currently declining. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA, ripple, and BNB remains at a risk of more downsides. Bitcoin Cash Price Analysis Recently, BCH price started a fresh decline after it failed to stay above the $285 support against the US Dollar. The price even broke the $280 support level and recently broke the $265 support. The next major support is near the $250 level, below which the bears may even eye a test of the $200 handle. On the upside, the previous key support near the $280 level is now likely to act as a strong resistance. A clear close above $280 is needed for upside acceleration. EOS, Tron (TRX) and ADA Price Analysis EOS price broke a couple of important supports near the $3.500 level. The price even traded below $3.400 and it is currently struggling to hold the $3.350 support area. The next key support zone is near the $3.200 level. On the upside, the $3.500 level may perhaps prevent a fresh increase in the near term. Recently, tron price trimmed most its gains from well above the $0.0200 level. TRX price traded below $0.0190 and even spiked below the $0.0185 support. The price is currently consolidating and it is likely to revisit the $0.0190 and $0.0192 resistance levels. Cardano price declined this past week below the $0.0440 level. However, the $0.0420 area acted as a strong support and prevented more downsides. At the moment, the price is trading with positive signs and trading nicely above the $0.0440 level. The main resistance is near $0.0450, followed by 0.0465. Crypto Market Cap Looking at the total cryptocurrency market cap 4-hours chart, there was a downside break below the $230.0B support area. The market cap is currently declining and following a bearish channel with resistance near the $228.0B level. It seems like the market cap could retest the $215.0B or $210.0B support area before a decent recovery. Crypto Market Cap Overall, there is a risk of more downsides in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the coming sessions. Crypto Market And Bitcoin Might Decline Further: BCH, EOS, TRX, ADA Analysis was last modified: November 18th, 2019 by Aayush JindalThe post Crypto Market And Bitcoin Might Decline Further: BCH, EOS, TRX, ADA Analysis appeared first on NewsBTC.

Ripple (XRP) Price Resuming Decline, Bitcoin Breaks $8.5K

Ripple price is under pressure and struggling to surpass the $0.2660 resistance against the US dollar. The price is currently declining and it is likely to break the $0.2580 support area. There is a major bearish trend line forming with resistance near $0.2645 on the hourly chart of the XRP/USD pair (data source from Kraken). Conversely, Ethereum is still holding the main $180 and $178 support levels. Ripple price is facing an increase in selling below $0.2650 against the US Dollar, similar to bitcoin. XRP price could continue to move down below $0.2600 and $0.2580. Ripple Price Analysis After a sharp decline below the $0.2600 support, ripple recovered from the $0.2521 low against the US Dollar. XRP/USD corrected above the $0.2600 and $0.2620 resistance levels. However, the price faced a strong resistance near the $0.2660 level and the 100 hourly simple moving average. There was no close above the 100 hourly SMA, resulting in a fresh bearish reaction. The price broke the $0.2620 support level. Moreover, ripple decline below the 23.6% Fib retracement level of the upward move from the $0.2521 low to $0.2660 high. It has opened the doors for more losses below the $0.2600 support. An immediate support is near the $0.2580 level and a connecting bullish trend line on the hourly chart of the XRP/USD pair. If there is a downside break below the trend line support, the price is likely to decline further below the $0.2570 support. The next major support is near the $0.2520 level, below which the price may even break $0.2500. Any further losses might lead ripple towards the $0.2450 support area. On the upside, there are many hurdles near the $0.2660 level and the 100 hourly SMA. Additionally, there is a major bearish trend line forming with resistance near $0.2645 on the same chart. Therefore, a clear break above the $0.2660 resistance and the 100 hourly SMA is needed for a decent upward move. The next resistance is near $0.2685, above which the price is likely to climb towards the $0.2750 resistance area in the near term. Ripple Price Looking at the chart, ripple price is clearly trading in a bearish zone below the $0.2700 and $0.2660 levels. On the downside, the $0.2520 and $0.2500 support levels are very important. Any further declines could its accelerate decline and the price may even struggle to hold $0.2450. Technical Indicators Hourly MACD – The MACD for XRP/USD is currently moving heavily in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level, but showing a few correction signs. Major Support Levels – $0.2600, $0.2580 and $0.2520. Major Resistance Levels – $0.2660, $0.2685 and $0.2720. Ripple (XRP) Price Resuming Decline, Bitcoin Breaks $8.5K was last modified: November 18th, 2019 by Aayush JindalThe post Ripple (XRP) Price Resuming Decline, Bitcoin Breaks $8.5K appeared first on NewsBTC.

Bitcoin Price Risks Falling Under $8.4K If the Bulls Don’t Step Up Now

Bitcoin Price Risks Falling Under $8.4K If the Bulls Don’t Step Up Now Bitcoin (BTC) price is still retracing from the massive rally two weeks ago, which leads the sentiment to turn bearish. Several signs indicate that the price needs to reverse quite soon, or the whole upwards move is deleted from the charts. Crypto […] Cet article Bitcoin Price Risks Falling Under $8.4K If the Bulls Don’t Step Up Now est apparu en premier sur Bitcoin Central.
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MakerDAO launches Multi-Collateral Dai as MKR holds steady

MakerDAO announced the release of Multi-Collateral Dai (MCD). The move is going to bring a wide range of new features to the Maker protocol, including Dai Savings Rate (DSR) and additional collateral asset types. Despite the major announcement, MKR’s price remains stagnant.  The new Multi-Collateral Dai Over a month ago, MakerDAO disclosed a change in the terminology of its products and services. Collateralized Debt Position (CDP) was renamed Vault while Dai (Single-Collateral Dai) was replaced with Sai, and MCD-generated Dai was named Dai. The idea was to get users familiar with the new developments that were going to be released.   Now, anyone can upgrade their Sai to Dai using the Migration app developed by the firm. A number of cryptocurrency exchanges, including Coinbase, announced their support for the new Dai. And, have offered to make the upgrade from Sai to Dai automatically.  MakerDao’s new terminology. Source: MakerDao With the release of the new Multi-Collateral Dai, the decentralized autonomous organization will offer a range of new services to its users.  MCD brings with it the much-anticipated Dai Savings Rate (DSR) mechanism. This allows Dai holders to lock up their tokens in a smart contract and earn additional Dai in the meantime. Although MKR holders will decide the initial rate, the risk management lead at the Maker Foundation, Cyrus Younessi, believes that it would likely be around 2 percent.  According to Younessi: “Given the absence of any empirical data, it is difficult to select a precise starting DSR value. However, a DSR of 2% is likely to be competitive with the broader DeFi ecosystem, which currently offers a ~6% (and dropping) savings rate on Sai.” Mockup of the Dai Savings Rate dApp. Source: MakerDao Additionally, the upgrade introduces a wider range of collateral assets, which were previously limited to Ethereum only. At the moment, the Maker community is evaluating seven cryptocurrencies, including  Augur (REP), Basic Attention Token (BAT), DigixDAO (DGD), Ethereum (ETH), Golem (GNT), OmiseGo (OMG), and 0x (ZRX). Out of all of these tokens, the first two being considered for their low risk of integration are BAT and ETH.  Despite the positivism seen across the market regarding the Multi-Collateral Dai, Udi Wertheimer, a bitcoin developer, criticized the move to back Dai with “illiquid shitcoins.” Wertheimer said: “Imagine you’re not going through life constantly reading crypto twitter and smart contracts. You believe DAI is a stablecoin backed by ETH (fairly liquid and a bit less volatile than other shitcoins). You go to an exchange to buy some. Oops! Here’s a [Basic Attention Token]-backed shitcoin instead.”  As more people in the crypto community start to understand the impact of the recent announcement, MKR is holding steady without much volatility.  MKR technical analysis Over the last few weeks, MKR saw its price rise over 67 percent from a low of $412 on Sept. 24 to a high of $690 on Nov. 11. The move was succeeded by a 19 percent correction that took this cryptocurrency down to $561, four days later.  Now, the 50 and 61.8 percent Fibonacci retracement levels appear to be containing the price of Maker as it awaits for a spike in volume that will determine where it would head next.  Based on its 12-hour chart, MKR is trading in a no-trade zone. The lower and upper Bollinger bands, sitting at $601 and $690, respectively, define this range. Trading within these support and resistance levels poses high-risk exposure. This is a result of the inability to determine in which direction the trend will result. As the Bollinger Bands squeeze on MKR’s 12-hour chart, the odds for a breakout increase. Thus, it will be wiser to wait for a clear move outside of this range before entering a trade. On the upside, if Maker closes above resistance it would signal a move up to the 78.6 percent Fibonacci retracement level, at $794. However, a spike in the selling pressure behind this crypto could take it to close below the support level. If this happens, MKR would likely plummet to the 38.2 percent Fibonacci retracement level, at $541.  MKR/USD by TradingView Moving forward The recent announcement by MakerDAO is generating significant buzz around the community. Even Reuters ran a story dedicated to how Dai is planning to “change the stablecoin game.” However, there are those who believe that the move to back Dai with a number of cryptocurrencies that present high levels of illiquidity could be extremely dangerous. As there are different sentiments about the Multi-Collateral Dai, MKR could be preparing to make a significant price move soon. On the upside, it could surge to nearly $800 while on the downside, it could plunge to $541.  The post MakerDAO launches Multi-Collateral Dai as MKR holds steady appeared first on CryptoSlate.

Multi-Collateral Dai Launches and Introduces the Dai Savings Rate

SAN FRANCISCO, Nov. 18, 2019 /PRNewswire/ --  MakerDAO, the protocol behind Dai, the world's first decentralized stablecoin built on the Ethereum blockchain and the leading stablecoin of decentralized finance, today enabled Multi-Collateral Dai (MCD). In a vote held November 15, MKR holders approved the addition of the Basic Attention Token (BAT), opening the door to countless additional collateral types in the future. The introduction of MCD also allows for today's launch of the Dai Savings Rate (DSR), a feature that makes it possible to earn savings simply by holding Dai. Users can learn how to generate Dai and how to access the DSR by visiting  From Sai to DaiThe introduction of MCD also marks a change in terminology. Beginning today, existing Single-Collateral Dai will be referred to as "Sai," while Multi-Collateral Dai will be called "Dai." Users can now upgrade their Sai to Dai easily through the Migration Portal (more on migration below). Upgrading provides users with all the benefits of MCD, including more collateral options and the Dai Savings Rate. Multi-Collateral Dai represents the future of digital cash, with the new DSR feature and the activation of a smart contract that paves the way for new collateral assets to back Dai. Accordingly, in the months ahead, Maker Governance will concentrate on adding new assets to MCD through debates and weekly votes. Therefore, anyone looking to take advantage of MCD's many features should upgrade to Dai as soon ...Full story available on

Finnish Regulator Gives Approval to LocalBitcoins

The regulatory body for the financial sector in Finland has given the nod of approval to LocalBitcoins. The p2p venture was registered by the Finnish Financial Services Authority (FIN-FSA) as a licensed virtual currency provider. The regulatory body gave the go-ahead to the venture after it had met and fulfilled some of the outlined requirements. The requirements to be met before the approval can be given include the implementation of the various strategies designed to combat money laundering. These are collectively known as the anti-money laundering measures (AML). Another requirement is the implementation of the Know Your Customer (KYC) policies. Then there is the proper protection and security of the assets of the investors and clients. But these are not all. There must also be compliance with LocalBitcoins management and staff with all the obligations of qualifications. Good Vibes Sebastian Sonntag is the chief executive officer of LocalBitcoins and he has stressed an important fact. That is that Finland is trusted worldwide when it comes to controlling and proper monitoring of the financial sector. He also said the new approval is going to open up countless corporate opportunities for the venture. All stakeholders are most likely going to benefit from these opportunities. For LocalBitcoins to secure a license, the venture had to put in place some strategies. These strategies were aimed at controlling capital flows. An example was in the middle of the year when the venture got rid of the option of trading digital currency for cash in person. After deleting that option, it brought about the verification of users. All these were aimed at repositioning the venture properly in preparation for the approval from the regulating agency. Also, these strategies had some other effects. For example, they led to a fall in the volume of transactions by more than a third. But in nations that had problematic currencies like Venezuela or Argentina, the trading volumes with the venture were so high that records were broken. Talk of different strokes for different folks. Big Deal Now that LocalBitcoins has been given the status of a reliable currency provider, it is now going to be seen as more trustworthy to do business with. The good and interesting about this approval is that very few platforms in all of Finland have it. So, it means a lot not just for LocalBitcoins itself but for all its customers and stakeholders. Finland as a nation is pretty strict when it comes to financial regulation. For example, it has banned other digital asset-related ventures from operating outside what has been stipulated as the official guideline. Things are actually looking up very well for LocalBitcoins of late. Now, it is gaining more ground in nations like Colombia, Peru, Venezuela, Argentina and other countries in South America. It is also doing, even more, to ensure that it becomes even more transparent. From November, it commenced the blocking of certain accounts. All these are moves were to ensure it not only gets the approval but maintains the reputation that it has carved for itself in the sector. The post Finnish Regulator Gives Approval to LocalBitcoins appeared first on - Daily Cryptocurrency and FX News.

Multi-Collateral Dai goes live on MakerDAO

Multi-Collateral Dai (MCD) has activated on the MakerDAO system after MKR token stakeholders made an executive vote last Friday to pass it through. MCD, as its name states, will enable users to create Dai stablecoin coins backed by multiple collateral types. The initial collaterals for MCD will be ether and basic attention tokens. Along with the MCD transition will be the introduction of the Dai Savings Rate, which will reward Dai holders with a variable interest rate paid out in Dai. With MCD's activation, there are now two Dai systems in Maker: Single Collateral Dai, which has been renamed Sai, and Multi-Collateral Dai, which has taken the Dai name. The Maker system and its users will ultimately completely migrate over to MCD.  According to The Block's analyst Matteo Leibowitz, "An expected timeline for total migration remains unknown, although various Maker Foundation employees have suggested that migration within several months would be considered a success. "
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Andreessen Horowitz votes in favor of Multi-Collateral DAI

Last month, the Maker Foundation announced the launch of a Multi-Collateral Dai [MCD], a launch scheduled to take place on 18 November. Just last week, the Foundation revealed that the votes ratifyingThe post Andreessen Horowitz votes in favor of Multi-Collateral DAI appeared first on AMBCrypto.
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