Connect with us

Cryptocurrency

Bullish Divergence on APE Chart Suggests 25% Spike to $7.89

Published

on


Bullish Divergence on APE Chart Suggests 25% Spike to $7.89

    • A bullish technical indicator has flashed on the 4-hour chart for ApeCoin.
    • On May 9, the price of ApeCoin (APE) dipped below $9.64, which was a long-standing support level for the coin.
    • APE’s price posted lower lows and higher lows – a sign that APE may see a short-term spike.

A bullish technical indicator has flashed on the 4-hour chart for ApeCoin. This could suggest that the price of ApeCoin will spike higher. Interested investors could take advantage of this opportunity for a quick scalping profit as APE gears up to retest the immediate resistance barrier.

On May 9, the price of ApeCoin (APE) dipped below $9.64, which was a long-standing support level for the coin. The dip was then followed by an attempt to overcome the aforementioned level. Unfortunately, the attempt failed and resulted in a 50% crash.

The price of APE, then, dropped to around $5.11 – a price that is only slightly above its listing price of $5.02. However, the price of APE set two lower lows on May 11 and May 12.

There now seems to be a sign of a short spike in the price of APE as the two lower lows were accompanied by a Relative Strength Index (RSI) that formed higher lows. This signals a bullish divergence.

Bullish divergence forms on APE’s 4-hour chart (Source: TradingView)

The formation of a bullish divergence indicates that the bullish momentum is picking up while the price is declining, which is a scenario that more often than not is preceded by a spike in the value of the underlying asset. At the time of writing, this spike is already underway.

As things stand, the price of APE has already rallied around 23% from its May 11th low of $5.11. Investors can expect APE’s price to rise another 25%, given the formation of the bullish divergence. This 25% rise will see the price of APE reach $7.89.

Continue reading on CoinQuora

Cryptocurrency

Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Published

on


Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

The selling in Bitcoin (BTC) is showing no sign of abating and Bitcoin has fallen for seven straight weeks for the first time ever. This indicates that the momentum remains strongly in favor of the bears.

While the short-term sentiment remains bearish, institutional traders seem to be taking a longer-term approach on cryptocurrencies. Goldman Sachs (NYSE:GS) and Barclays (LON:BARC) joined several other institutional investors in a $70 million Series A funding round by institutional trading platform Elwood Technologies.

Daily cryptocurrency market performance. Source: Coin360

BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
AVAX/USDT daily chart. Source: TradingView
SHIB/USDT daily chart. Source: TradingView

Continue Reading on Coin Telegraph

Continue Reading

Cryptocurrency

Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

Published

on


Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

Bitcoin (BTC) has been relatively calm during the weekend as crypto traders try to rebuild the markets after the Terra LUNA debacle. With macro factors not supportive, several analysts expect the recovery to be a slow grind.

Crypto research firm Delphi Digital said in a recent report that the rally in the United States dollar index (DXY) had pushed its 14-month relative strength index “above 70 for the first time since its late 2014 to 2016 run up.”

Crypto market data daily view. Source: Coin360
BTC/USDT daily chart. Source: TradingView
BTC/USDT 4-hour chart. Source: TradingView
MANA/USDT daily chart. Source: TradingView
MANA/USDT 4-hour chart. Source: TradingView
MKR/USDT daily chart. Source: TradingView
MKR/USDT 4-hour chart. Source: TradingView
ZEC/USDT daily chart. Source: TradingView
ZEC/USDT 4-hour chart. Source: TradingView
KCS/USDT daily chart. Source: TradingView
KCS/USDT 4-hour chart. Source: TradingView

Continue Reading on Coin Telegraph

Continue Reading

Cryptocurrency

Crypto capital gains one of four key areas for Australian Tax Office

Published

on


Crypto capital gains one of four key areas for Australian Tax Office

The Australian Taxation Office (ATO) has outlined crypto capital gains as one of four key areas of focus in 2022.

A capital gain or loss refers to the price difference between the time an asset was purchased and the time it was sold. The percentage owed to the ATO varies between income brackets and duration of ownership, but in general, the rate is reduced for assets held longer than 12 months.

Continue Reading on Coin Telegraph

Continue Reading

News

World23 mins ago

California church shooter was motivated by hate, politics

4/4 © Reuters. The Geneva Presbyterian Church is seen after a deadly shooting, in Laguna Woods, California, U.S. May 15,...

Stock Markets24 mins ago

Tencent Music quarterly revenue falls as competition heats up

© Reuters. FILE PHOTO: The logo of China’s Tencent Music Entertainment Group is seen next to an earphone in this...

Stock Markets24 mins ago

S&P 500 ends lower as Tesla falls, while energy rallies

© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May...

World24 mins ago

Steelworks defenders appear to signal end of Mariupol siege

2/2 © Reuters. FILE PHOTO: A local resident rides a bicycle past a charred armoured vehicle during Ukraine-Russia conflict in...

Stock Markets24 mins ago

Musk tells conference a lower price for Twitter might be appropriate

© Reuters. FILE PHOTO: A 3D-printed Twitter logo on non-3D printed Twitter logos is seen in this picture illustration taken...

Stock Markets24 mins ago

FDA to soon authorize Pfizer’s COVID booster shot for younger kids – NYT

© Reuters. FILE PHOTO: Empty vials of the Pfizer-BioNTech coronavirus disease (COVID-19) vaccine are seen at The Michener Institute, in...

Cryptocurrency24 mins ago

Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB The selling in Bitcoin (BTC) is showing...

World53 mins ago

New York congressional map deals blow to Democrats’ midterm hopes

© Reuters. FILE PHOTO: A “Vote” sign is pictured on election day in the Manhattan borough of New York City,...

Coronavirus54 mins ago

FDA declines to authorize common antidepressant as COVID treatment

© Reuters. FILE PHOTO: Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland,...

Stock Markets54 mins ago

Wall Street ends lower as Tesla falls, while energy rallies

© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May...

Coronavirus54 mins ago

Coronavirus may be linked to cases of severe hepatitis in children

© Reuters. A firefighter from the Marins-Pompiers of Marseille (Marseille Naval Fire Battalion) administers a nasal swab to a child...

Stock Markets54 mins ago

Take-Two Earnings Miss, Revenue Beats In Q4

© Reuters. Take-Two Earnings Miss, Revenue Beats In Q4 Investing.com – Take-Two (NASDAQ:TTWO) reported on Monday fourth quarter earnings that...

World54 mins ago

Biden approves redeployment of under 500 ground troops to Somalia

© Reuters. U.S. President Joe Biden delivers remarks at the annual National Peace Officers’ Memorial Service at the U.S. Capitol...

World1 hour ago

Factbox-Buffalo shooting victims included deacon, retired cop, grocery worker

© Reuters. Roberta Drury, who was among those who lost their lives in the TOPS supermarket shooting in Buffalo, New...

Stock Markets1 hour ago

Explainer-What happened with Abbott baby formula that worsened a U.S. shortage?

© Reuters. FILE PHOTO: Abbott Laboratories logo is displayed on a screen at the New York Stock Exchange (NYSE) in...

Cryptocurrency1 hour ago

Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS Bitcoin (BTC) has been relatively calm during the...

Politics1 hour ago

U.S. Supreme Court backs Ted Cruz, dumps campaign finance curb

© Reuters. FILE PHOTO: Sen. Ted Cruz (R-TX) speaks during a hearing of the Senate Foreign Relations to examine U.S.-Russia...

Stock Markets1 hour ago

Musk Says Twitter Deal at Lower Price ‘Not Out of the Question’

© Reuters By Yasin Ebrahim  Investing.com — Elon Musk said Monday that a cut-price deal for Twitter wouldn’t be “out...

Sports & General1 hour ago

Amber Heard says she feared she would not survive Johnny Depp marriage

3/3 © Reuters. FILE PHOTO: Actor Johnny Depp reacts as he leaves for a recess during a defamation trial against...

Economy1 hour ago

Dollar slips from 2-decade highs; yuan falls on weak China data

© Reuters. FILE PHOTO: U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic By Sinéad...

Economy1 hour ago

Taliban dissolve Afghanistan’s Human Rights Commission, other key bodies

© Reuters. FILE PHOTO: An Afghan woman walks on a street in Kabul, Afghanistan, May 9, 2022. REUTERS/Ali Khara/File Photo...

Cryptocurrency1 hour ago

Crypto capital gains one of four key areas for Australian Tax Office

Crypto capital gains one of four key areas for Australian Tax Office The Australian Taxation Office (ATO) has outlined crypto...

Economy1 hour ago

U.S. SEC chair says much to be done to protect crypto investors

2/2 © Reuters. FILE PHOTO: Representations of virtual cryptocurrencies are placed on U.S. dollar banknotes in this illustration taken November...

Stock Markets1 hour ago

Jupiter, Yarbrough among investors who sold Coinbase before big fall

© Reuters. FILE PHOTO: People watch as the logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed...

Stock Markets2 hours ago

Yellen reaches no breakthrough in Poland tax talks, says more work needed

© Reuters. Treasury Secretary Janet Yellen testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled “The Financial...

Stock Markets2 hours ago

Starbucks to Cover Worker Travel Expenses for Medical Treatment

© Reuters. By Liz Moyer Investing.com — Starbucks Corporation (NASDAQ:SBUX) shares are down 3.5% in Monday trading after the coffee...

Cryptocurrency2 hours ago

Celsius Network’s crypto mining subsidiary SEC filing suggests plans for IPO

Celsius Network’s crypto mining subsidiary SEC filing suggests plans for IPO Celsius Mining, the mining subsidiary of crypto lending platform...

Commodities2 hours ago

U.S. Strategic Petroleum Reserve drops to lowest level since 1987

© Reuters. FILE PHOTO: A maze of crude oil pipes and valves is pictured during a tour by the Department...

World2 hours ago

Indigenous Canadians make a painful plea on eve of British royal visit

2/2 © Reuters. FILE PHOTO: Britain’s Prince Charles and Camilla, Duchess of Cornwall visit Canada House in London, Britain May...

Commodities2 hours ago

Oil Climbs Another 3% as OPEC Paws Away Any Meaningful Output Hikes

© Reuters. By Barani Krishnan Investing.com — Shut out the noise, stick to the script and let consumers’ problems be...

Trending