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On Wednesday, the number one crypto asset was nearly intact, looking to consolidate profits gained over the last two trading marathons.
In early Wednesday trade, the currency pair BTC/USD came up with an outcome of $7,088.94. The given reading was recorded on the Kraken crypto exchange.
Having broken out of the $6,000-$7,000 range, a great number of crypto enthusiasts are looking at a major technical indicator as the next objective for the most popular cryptocurrency in the world. They told that they currently have a confirmation above the level $7,000 as well as a break of the 50-day moving average. They hope it will bring momentum build.
As for the next mark in the sand, they point to the 200-day moving average that is expected to prove firm resistance, adding that the 200-day moving currently sticks with $7,885. By the way, a moving average turns out to be a closely watched momentum gauge.
A collective name for crypto assets other than Bitcoin, altcoins stayed away from others, sticking with Tuesday’s closing levels. The currency pair ETH/USD, which appears to be the number two altcoin, seems to be braced for regaining $300 for the first time since August 20, soaring by 0.5% ending up with $295.43. Eventually, it has been rather a hard month for Ether holders, notwithstanding the resurgence to start the trading week. As a matter of fact, since the beginning of August Ethereum has edged down by approximately 35%.
In addition to this, the currency pair BCH/USD slumped by about 0.8% hitting $562.90. The currency pair LTC/USD dipped by 0.3% being worth $62.64. The currency pair XRP/USD hit 35 cents, declining by 0.6%.
Having concluded over 5% up on Tuesday, futures are set for rather a quiet start on Wednesday. For instance, September delivery Cboe contract XBTU8 lost 0.2% reaching $7,105. Meanwhile, August delivery CME contract BTCQ8 stood still sticking with $7,080.
On Wednesday, the evergreen buck declined because the Japanese yen kept to a two-month minimum due to the fact that market participants had the latest trade reports digested…
On Tuesday, the evergreen buck added versus its counterparts because market participants weighed the latest worsening in the tit-for-tat tariff conflict between China and America, while a weaker common currency also raised market sentiment…
On Monday, the evergreen buck declined versus its counterparts on worries of an escalation in the US-China trade conflict, while a stronger UK currency and euro also put pressure on market sentiment…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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