What is The Coinbase Effect? How a successful trader diversifiesIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
The “Coinbase effect” refers to the notion that up-and-coming cryptos go through massive rallies during listing on the Coinbase exchange. Some cite the reason behind is the fact that Coinbase is a listed company, and it has some strict regulatory requirements for a coin to be listed on the exchange. However, we do not have any substantial evidence to support or refute the hypothesis.
A lot of hype has been doing the rounds since ADA was listed on Coinbase in 2020. Several research firms jumped in to find the connection. Today, we try to find out whether this effect is still in place and what happened to some of the cryptos that got listed on the exchange.
As per an analysis by the FXStreet, out of 18 of the most hyped coins of 2020 that got listed on Coinbase, only 6 of them went higher after the listing. According to research firm Messari, the returns have an expansive range of -32% to +645% after listing on CB.
The above stats feel such a bummer. Doesn’t it? However, the effect is very much there and alive. The research firm Messari, also adds that on an average, there is a gain of 91% within the first five days of listing.
Some of those tokens that shot up last year that have been covered in this analysis were:
district0x or DNT: It shot up almost 800% following the CB listing.
Civic or CVC: It went up almost 592%
Decentraland or MANA: This token had a relatively muted movement as it shot up approximately 60%
We wondered whether this effect was active in August 2021. We will conclude with the entire findings below. But first, let us list a few coins that demonstrated the same effect this year.
IoTex or IOTX was listed on the Coinbase platform on 12th Aug, 2021. It shot up 396.19% in the week leading to the listing.
Axie Infinity or AXS was also listed on 12th Aug, 2021. This gaming token had a relatively lesser jump as it shot up 55%
Chiliz or CHZ was listed on 17th June. It jumped 70% leading to the listing and then fell soon after as investors rushed to book profits.
Conclusion:
The Coinbase Effect is still active. Although not all coins go up prior to the listing, a little diversification and small allocation to different cryptos present a good risk:reward ratio.
A good majority of the coins that have been doing fairly decent prior to the listing, do even better after the listing.
Coins performing badly lately amplify their momentum in the negative territory.
Projects that are genuinely good and ambitious, and that have been in sideways territory for sometime do pretty well after the listing.
Please note that this analysis is by no means an exhaustive list. It covers only a handful of the tokens, and attempts to highlight a prudent trading decision in terms of risk:reward. Listing gains are alluring, and should never put in more than they could afford to lose. In all likelihood, it’s always best to do your own research.
One should always diversify the portfolio, and only invest a smaller amount at such speculative bets. Every trader is bound to have losses and gains. Any traders that wins more than she loses, ultimately becomes a successful trader in the long run.
Attaching the image for reference:
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Mudrex
DOGEUSD(4Hr) : DOGE setting on a sideways movementMarket in the last 24hrs
DOGEUSD is moving sideways as the price went below the week's trend line. Trading volume has been very high in the last 24 hours.
Today’s Trend analysis
DOGEUSD is expected to move sideways between the middle and the upper Bollinger band along with the trend line.
Price volatility was high at approximately 5.2%, with the day's range between $0.253 — $0.283.
Price at the time of publishing: $0.272
DOGE’s market cap: $35.6 Billion
However, the Indicator summary is giving a 'BUY' signal on DOGEUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 9 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 1 is giving SELL signal, 1 is giving neutral and 13 are giving a BUY signal.
Trading volume has been very high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
XRP(4Hr) : XRP finally touched $1 and looking to go higherMarket in the last 24hrs
The price moved below the upper Bollinger band towards the middle Bollinger band in the last 24 hours. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
The price is expected to continue to oscillate between the middle and the upper Bollinger band while having a bullish momentum overall.
Price volatility was low at approximately 1.46%, with the day's range between $0.929 — $1.1.
Price at the time of publishing: $0.953
XRP’s market cap: $4.19 Billion
However, the Indicator summary is giving a 'BUY' signal on XRPUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 9 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 3 are giving SELL signal, 1 is giving neutral and 11 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
ETHUSD(4Hr) : ETH slowly rising in a bullish momentumMarket in the last 24hrs
The price is slowly moving in an upward momentum over the trend line as the price moved from the middle to the upper Bollinger band. Trading volume has been moderate in the last 24 hours.
Today’s Trend analysis
Price is expected to continue to move along the trend line in a bullish momentum along with oscillating between the middle and the upper Bollinger band.
Price volatility was very high at approximately 4.1%, with the day's range between $3099 — $3269.
Price at the time of publishing: $3240
ETH's market cap: $379.51 Billion
However, the Indicator summary is giving a 'BUY' signal on ETHUSD.
Out of 11 Oscillator indicators, 4 are giving a SELL signal, 6 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 1 is giving a SELL signal, 1 is neutral and 13 are giving a BUY signal.
Trading volume has been moderate in the last 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
Note: Above analysis would hold if we do not encounter a sudden jump in trade volume.
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Any feedback and suggestions would help in further improving the analysis!
Typical bullish accumulation|Target & fallback zonesIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: BTC is currently steady above $46,500. Even after multiple days of rally, the momentum still appears to be there for both BTC and ETH. They are collectively driving the markets higher. BTC is currently above both the 50-day and 100-day MA.
Market in the last 24hrs
The past 24 hours were quite a steady up-move. Even though there was a significant macro-event as the trillion-dollar infrastructure bill got passed by the US Senate, we witnessed a minor profit booking. However, that was quickly taken over the bulls as they drove the markets higher. If we look at the money flow index below, we can see that there is a steady amount of money flowing into BTC. It is a huge bullish signal.
Today’s Trend analysis
Markets have been rallying steadily over the past week. Bitcoin breached multiple crucial resistance levels and hasn’t faced a pullback yet. On the daily chart, we see a major accumulation pattern, where the price dipped and then rose significantly following a curve. In such cases, the underlying often tries to reach the previous high.
Although the momentum appears to be steady, there are some concerns. The traded volumes appear to be dropping for BTC. On top of this, there are no strong support regions between current levels and the $40,000 mark. This means that any pullback will likely crash prices to $40k, if the bears manage to get an upper hand. As of now, short term traders, entering long positions should preferably keep a stop-loss, in case things start going south.
Price volatility remained low at approximately 2.98%, with the day's range between $45,353.02 — $46,709.05.
Price at the time of publishing: $46,618.04
BTC's market cap: $875.06 Billion
Out of 11 Oscillator indicators, 8 are neutral, none are bearish and 3 are bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', 1 is bearish and 13 are bullish.
Indicator summary is giving a ‘ STRONG BUY ’ signal on BTCUSD .
Volumes have decreased over the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
(Prev targets done) Multiweek breakout:Next target & expectationIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: Cardano gave a decisive multi-week breakout after breaching the $1.47 mark. From the looks of it, ADA still seems to have some steam left. Although a large part of the momentum would depend on Bitcoin and Ether’s momentum as well. In our previous analysis on ADA, we had predicted that ADA was poised for a huge move as it was continuously hovering around the key resistance level. The previous analysis had even clearly marked the target levels, and both the targets were filled today.
Market in the last 24hrs
The last 24 hours were a second consecutive day of double-digit gains for ADA as it shot up more than 11%. The volumes are still high suggesting the momentum is still pretty good.
Today’s Trend analysis
ADA is currently hovering around another key resistance level, where it has rebounded multiple times since May. This level at $1.85 is a key resistance level and we could expect some pullback.
However, if ADA decisively breaches this level, the next target would be at $2.30, which is another 25% move from current levels. By ‘decisively breaching,’ we are referring to large volumes.
Price volatility remained extremely high at approximately 12.57%, with the day's range between $1.67 — $1.88.
Price at the time of publishing: $1.8705
ADA’s market cap: $60.816 Billion
Out of 11 Oscillator indicators, 8 are neutral, none are bearish and 3 are bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', none are bearish and 14 are bullish.
Indicator summary is giving a ‘STRONG BUY’ signal on ADAUSD .
Volumes have remained high over the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
DOGEUSD(4Hr) : DOGE climbing slowly and steadilyMarket in the last 24hrs
The price moved from the midline to the upper Bollinger band in the last 24 hours. Trading volume has been very high in the last 24 hours.
Today’s Trend analysis
The price is expected to continue to move above the trend line in a consolidated bullish momentum.
Price volatility was high at approximately 6.1%, with the day's range between $0.245 — $0.273.
Price at the time of publishing: $0.267
DOGE’s market cap: $34.98 Billion
However, the Indicator summary is giving a 'BUY' signal on DOGEUSD.
Out of 11 Oscillator indicators, 3 are giving a SELL signal, 7 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 0 are giving SELL signal, 1 is giving neutral and 14 are giving a BUY signal.
Trading volume has been very high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
XRP(4Hr) : Ripple nearing 1$Market in the last 24hrs
The price is oscillating between the middle and the upper Bollinger band as it accepted the middle band as a support line. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
The price is expected to continue to oscillate between the middle and the upper Bollinger band with a slight indication of bullish momentum.
Price volatility was low at approximately 3.41%, with the day's range between $0.761 — $0.826.
Price at the time of publishing: $0.817
XRP’s market cap: $37.93 Billion
However, the Indicator summary is giving a 'BUY' signal on XRPUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 9 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 1 is giving SELL signal, 1 is giving neutral and 13 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
Time to be cautious: Bearish divergence on the shorter timeframeIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: ETH has steadily gone up and is hovering around the $3100 level. It has been a dream run so far for the ETH enthusiasts. However, it might be prudent to be cautious right now as a bearish divergence is appearing on the 4-hour time-frame.
Market in the last 24hrs
The last 24 hours were actually pretty bullish for ETH. Markets were fired up and we saw massive positive momentum across most Altcoins.
Today’s Trend analysis
BTC inched closer to the $46,000 mark. The king of Altcoins, Ether, would not no way lag behind. It had a similar rally and surpassed the $3100 mark. The anticipation of the ‘London Hard Fork’ caused a massive rally in ETH in the past 2 weeks. If we look at the price, it has been forming higher highs. However, if we look at the corresponding RSI, we notice that the RSI is not exactly making higher highs. And this is a bearish divergence.
It suggests that the trend might be getting weaker and we might see a reversal. That being stated, there might be false ‘bearish divergence’ signals as well.
The trendlines would help enter short term trades in case ETH breaks out or breaks down. The trendlines would be reliable as they are in place since mid July and follow price action.
Price volatility remained extremely high at approximately 9.01%, with the day's range between $2893.21 — $3154.57
Price at the time of publishing: $3109.57
ETH's market cap: $363.50 Billion
Out of 11 Oscillator indicators, 7 are neutral, 3 are bearish and 1 is bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', none are bearish and 14 are bullish .
Indicator summary is giving a BUY signal on ETHUSD .
Volumes have remained high in the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
BTC clocks record high in months, what next? Pullback likelyIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: BTC is currently inching closer to $46,000 level quite steadily. Although this is the moment several investors were patiently waiting for, technicals indicate that it might not be a dash towards the all-time high. Most retail traders and BTC enthusiasts are highly bullish. However, markets have risen almost linearly, and that cannot be sustainable for long. BTC is definitely bullish at the moment. However, there is not enough evidence to state that BTC can make a move towards the all-time high.
Market in the last 24hrs
The past 24 hours were quite volatile. It appeared as though markets had lost their steam. Just then, the top 2 cryptos by market cap, made an altogether massive jump.
Today’s Trend analysis
BTC blazing past $45,000 was, indeed, a great move. However, there are certain factors that one needs to consider.
$45,000 is a psychological level. Moreover, it was a crucial resistance for a long time. Several analysts had earlier predicted that once BTC crosses the $45k mark, it will begin a bull run. Convinced by this analogy, several retail traders might buy in BTC just now.
However, it would be the perfect time for the whale to dump their holdings in the mark. Moreover, all rapid upswings are followed soon after by a pullback. We haven’t yet seen the pullback in either BTC or ETH. The 4HR time-frame analysis below highlights the exact scenario.
Price volatility remained high at approximately 7.15%, with the day's range between $42,811.26 — $46,082.90.
Price at the time of publishing: $45,786.04
BTC's market cap: $859.36 Billion
Out of 11 Oscillator indicators, 8 are neutral, 1 is bearish and 2 are bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', none are bearish and 14 are bullish.
Indicator summary is giving a ‘ STRONG BUY ’ signal on BTCUSD .
Volumes have increased over the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
DOGEUSD(4Hr) : TA signaling a major uptrendMarket in the last 24hrs
The price can be seen moving between the middle and the upper Bollinger band. It seems that the price has accepted the middle Bollinger band as a support line. The trading volume has been very high in the last 24 hours. We can see the price increase with a decrease in volume suggesting a possible reversal i.e. once the price touches the upper Bollinger band.
Today’s Trend analysis
The price is expected to continue to move in a bullish momentum till the price reaches the upper Bollinger band. After this, a consolidated movement is expected.
Price volatility was low at approximately 1.5%, with the day's range between $0.231 — $0.267.
Price at the time of publishing: $0.255
DOGE’s market cap: $26.22 Billion
However, the Indicator summary is giving a 'STRONG BUY' signal on DOGEUSD.
Out of 11 Oscillator indicators, 0 are giving a SELL signal, 8 are neutral and 3 are giving a BUY signal.
Out of 15 Moving average indicators, 0 are giving SELL signal, 1 is giving neutral and 14 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
Strong breakout supported by volume and multiple factorsIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: BTC had four successive days of rally. BTC is hovering above the $42,000 mark yet again. Just a few days back, we had another instance of BTC shooting past $42,000, and then subsequently succumbing to profit booking. This breakout seems more strong and decisive than the earlier breakout. Even in our previous analysis on BTC, we suggested that this market has room for everyone. That was a short bearish period and we had suggested a turnaround soon enough.
Market in the last 24hrs
BTC shot up approximately 6% in the past 24 hours. The traded volumes in both BTC and ETH were massive.
Today’s Trend analysis
Bitcoin’s latest breakout above $42,000 seems more convincing than the previous one. It is supported by:
There were multiple rejections around the resistance level around $40k. This breakout finally managed to get ahead of the resistance zone.
The steady rise in volumes gives a clear indication of the momentum in the market. If we look at the volume bars, we see that the volume candles for the past three days are above the 20-day Moving Averages of the volumes.
The trendline was active as a resistance since the second week of April. This rally has given this sturdy trendline breakout.
Markets have almost risen linearly over the past few days. In such scenarios, markets may consolidate for a while before they continue the rally again. Another considerable factor is that we are entering a weekend and volumes will likely drop. Therefore, some aggressive orders may drive the momentum in either direction. Bottomline is traders need to be more watchful during this weekend.
Price volatility remained high at approximately 8.78%, with the day's range between $39,879.47 — $43,381.00.
Price at the time of publishing: $42,936.41
BTC's market cap: $805.61 Billion
Out of 11 Oscillator indicators, 9 are neutral, 1 is bearish and 1 is bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', 1 is bearish and 13 are bullish.
Indicator summary is giving a ‘ BUY ’ signal on BTCUSD .
Volumes have increased over the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
DOGEUSD(4Hr) : DOGE moving sideways in a descending triangleMarket in the last 24hrs
The price moved from the bottom to the upper Bollinger band in a slightly bullish momentum in the last 24 hours. Trading volume has been high in the last 24 hours. The trading volume saw a huge rise and has been increasing since then.
Today’s Trend analysis
The price is about to exit the downward triangle thus will have low volatility in the near future. If the price exits above the triangle we can expect a strong bullish momentum or else if it breaks below then a strong bearish momentum is expected.
Price volatility was low at approximately 1.23%, with the day's range between $0.195 — $0.203.
Price at the time of publishing: $0.2
DOGE’s market cap: $26.22 Billion
However, the Indicator summary is giving a 'NEUTRAL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 9 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 6 are giving SELL signal, 1 is giving neutral and 8 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
XRP(4Hr) : Ripple moving in a sideways momentumMarket in the last 24hrs
XRPUSD seems to have accepted the middle Bollinger band as a resistance line and can be seen moving in downward momentum. Trading volume has been high in the last 24 hours. The volume can be seen decreasing with a decrease in price suggesting a trend reversal in the near future.
Today’s Trend analysis
The price is expected to continue to move in a downward momentum till it reaches the bottom Bollinger band after which a sideways movement is likely.
Price volatility was low at approximately 1.29%, with the day's range between $0.708 — $0.739.
Price at the time of publishing: $0.714
XRP’s market cap: $33.14 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 3 are giving a SELL signal, 7 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 9 are giving SELL signal, 1 is giving neutral and 5 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
Major hard fork upgrades since inception & impact on pricesIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
In a few hours, block number 12,965,000 will be mined on the Ethereum network and the ‘ London Hard Fork ’ upgrade will be implemented. As of writing this post, the data from Etherscan shows that block 12,963,799 just got added to the network.
A lot of hype has been doing the rounds since this upgrade was announced. The hype became even more resounding over the past couple of weeks.
In this post, we will explore what these hard fork upgrades mean for the network. We will explore all the major hard fork upgrades to the Ethereum network since its inception, and the corresponding impact on the prices.
Layman’s language for the definition of Fork: Blockchain networks such as Ethereum have a community. This community agrees or disagrees with a change in the network. It is often done to ensure that the network functions as smoothly as possible. In some cases, these hard forks are implemented to protect the network against potential harm, which we will subsequently discuss.
Types of forks
Codebase Forks : Copy of the original code, to allow for minor tweaks without developing the whole blockchain code from scratch.
Blockchain Forks : Branching or splitting a blockchain’s whole transaction history, causing the new network to develop a distinct identity.
Soft Forks : Gradual software upgrades—bug fixes, security checks, and new features.
Hard Forks : A permanent modification on the blockchain
We will discuss the Hard Forks that have occurred since the inception of the Ethereum network.
✔ Ice Age : It was implemented on September 8, 2015
In order to guarantee to switch from PoW to PoS within 16 months after Ethereum’s initial release, an exponential difficulty increase was added that would noticeably slow down new blocks being mined after about a year. After that time, the network would reach an “Ice Age,” where the difficulty would exponentially increase until it would be too high for anyone to find a block.
The Ice Age gets manually delayed by a subsequent hard fork every time.
Price saw an approximate 10% jump prior to the upgrade
✔ Homestead : It was implemented in March 15, 2016
It went live at block number 1,150,000. ETH's price jumped more than 1477% in the first 3 months of 2016. 14.77x return to investors in a matter of 3 months!
✔ The DAO : It went live on July 20, 2016
This upgrade was to save the network from further damage. A vulnerability on the network allowed an exploiter to walk away with 3.6 million ETH. To fix this vulnerability, the DAO hard fork was implemented. It also created the well-known cousin of Ethereum, the ETC or Ethereum Classic.
✔ Constantinople AKA St. Petersburg : It was implemented in February 28, 2019
Price dropped more than 16% from the recent peak.
✔ Atlantis : It was implemented on September 12, 2019
This September 2019 hard fork event required all software users to upgrade their clients in order to stay with the current network. Enhancements included better security, stability, and network performance for higher volumes of traffic.
✔ London Hard Fork : It will be implemented on August 5, 2021
EIP-1559 aims to strengthen the ecosystem of Ethereum — which is known for its smart contract capabilities that power DeFi, or decentralized finance, apps and NFTs, or non-fungible tokens among other improvements.
( Have added the image to the analysis, so that it can be downloaded and referenced)
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-Mudrex
DOGEUSD(4Hr) : DOGE saw some recovery after 3 bearish daysMarket in the last 24hrs
The price saw a bullish momentum as DOGEUSD accepted the bottom Bollinger band as a support line. The trading volume has been very high in the last 24 hours
Today’s Trend analysis
The price can be seen moving above the middle Bollinger band suggesting that the price has rejected the middle band as a resistance line and a bullish momentum may be in the future till the price reaches the upper band.
Price volatility was low at approximately 2.92%, with the day's range between $0.194 — $0.203.
Price at the time of publishing: $0.201
DOGE’s market cap: $26.28 Billion
However, the Indicator summary is giving a 'SELL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 9 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 9 are giving SELL signal, 1 is giving neutral and 5 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
London hard fork and the associated profit bookingIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: The London Hard Fork is a significant upgrade to the Ethereum network. As with most such significant network changes, markets tend to be a bit jittery. ETH recently broke down a major trendline. Although this is not a major downtrend, it has taken ETH back to around $2500 levels.
Market in the last 24hrs
The last 24 hours were actually pretty volatile for ETH. The market was clearly searching for support.
In our previous analysis, we suggested waiting before taking a trade now.
Today’s Trend analysis
The trendline break-down was with high volumes. It dampened the positive momentum in the largest Altcoin. The trendline acted as a crucial support as ETH bounced off multiple times.
We can expect ETH to be in a consolidation over the next 24 hours. Although, it is very likely that ETH will attempt to make a move on the higher side.
The nearest strong support is at $2375 and the nearest strong resistance is at $2636.
The pivot level for ETH is $2468.64.
Price volatility remained moderate at approximately 3.2%, with the day's range between $2457.92 — $2536.59
Price at the time of publishing: $2517.00
ETH's market cap: $294.34 Billion
Out of 11 Oscillator indicators, 8 are neutral, 1 is bearish and 2 are bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', 3 are bearish and 11 are bullish .
Indicator summary is giving a BUY signal on ETHUSD .
Volumes have remained low in the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
Have patience, this market has room for everyone
If you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: BTC had four successive days of decline after a rally past $42,000. Today’s candle seems to be a Doji so far traders on both sides are indecisive. Most traders would be waiting for the markets to find support and then either bounce back or break-down.
Market in the last 24hrs
BTC remained under trouble in the past 24 hours. Ether’s ‘London Hard Fork’ upgrade also made the markets a bit jittery.
Today’s Trend analysis
Bitcoin will likely be under pressure in the immediate short term. The price discovery will continue until Bitcoin finds a strong support. 35k-36,300 is a strong support zone. The pivot level for BTC is at $37,732.61.
However, as I always mention, volume would be a key factor to watch out for. A sudden increase in traded volumes can signal a reversal.
We witnessed that during the four-day selloff, the traded volumes marginally increased. This indicates that those would have been looking to book profits squared off their holdings expecting a larger drop in BTC.
The markets are not exactly bearish at the moment. Bulls are not placing any aggressive trades and bears are simply dragging the markets lower at every opportunity. Bitcoin dominance decreased marginally and stands at 45.88% currently.
Over the past 24 hours, we also witnessed the total traded volume across the crypto spectrum dropping by approximately 8%. This suggests that the market is indecisive at the moment.
Price volatility remained high at approximately 2.87%, with the day's range between $37,481.00 — $38.557.80.
Price at the time of publishing: $37,849.41
BTC's market cap: $705.61 Billion
Out of 11 Oscillator indicators, 9 are neutral, 1 is bearish and 1 is bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', 7 are bearish and 7 are bullish.
Indicator summary is giving a ‘NEUTRAL’ signal on BTCUSD .
Volumes have marginally increased over the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 48-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
BTC under pressure|Buying the dip is still a prudent decisionIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: BTC had four successive days of decline after a rally past $42,000. Although the price has started declining, the traded volumes haven’t gone up. It indicates that we are not witnessing a selloff, but a minor profit booking.
Market in the last 24hrs
The last 24 hours were pretty volatile. BTC is facing resistance at the 100 day MA.
Today’s Trend analysis
Bitcoin’s run-up past $42,000 was fantastic. It is only natural that profit booking will come into the picture.
However, the decrease in the traded volume presents a bullish picture for BTC. The supply across exchanges is reducing as whales are still not selling their holdings.
The 50-day MA line will be the nearest strong support. If BTC stops its descent and takes support at the 50-day MA, it will likely be a buying opportunity.
Let me clarify why we are still bullish on BTC. First of all, the technical indicators present a long term bullish picture. Whales are still accumulating, and if demand picks pace, we will again see a short squeeze. It will liquidate several short positions driving prices higher.
Secondly, on the macro-economic front, the Taproot upgrade is a key talking point for several crypto enthusiasts. The mere anticipation of the upgrade would bring positive sentiment in BTC.
Right now the prudent thing to do would be to wait for the market to find support.
Price volatility remained high at approximately 4.81%, with the day's range between $37,966.00 — $39.792.83.
Price at the time of publishing: $38,485.64
BTC's market cap: $725.61 Billion
Out of 11 Oscillator indicators, 9 are neutral, 1 is bearish and 1 is bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', 7 are bearish and 7 are bullish.
Indicator summary is giving a ‘NEUTRAL’ signal on BTCUSD .
Volumes have decreased over the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
DOGEUSD(4Hr) : DOGE starts another descentMarket in the last 24hrs
The price saw a bearish momentum in the last 24 hours as the price moved from the middle Bollinger band to below the lower Bollinger band. Trading volume has been high and saw a sudden rise with a decrease in the price suggesting a strong bearish momentum.
Today’s Trend analysis
The price is likely to continue to move in a bearish manner. As the price accepts the bottom Bollinger band as a support line then a consolidated bearish momentum is expected.
Price volatility was low at approximately 4.56%, with the day's range between $0.196 — $0.208.
Price at the time of publishing: $0.199
DOGE’s market cap: $25.96 Billion
However, the Indicator summary is giving a 'SELL' signal on DOGEUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 8 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
Anticipation of EIP 1559|Hold on before entering a trade nowIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!
Quick glance: ETH had one red candle after 13 successive green candles. The largest Altcoin by market cap is doing much better than BTC. The EIP 1559, also referred by some as the London hard fork is set to be live from 04th August.
Market in the last 24hrs
ETH declined marginally and is hovering just above $2500.
Today’s Trend analysis
ETH is already above the 50 day and the 100 day Moving Average levels. The 100-day MA is, in fact, acting as a strong support now. Although we are having a red candle now, it is important to wait for the confirmation candle, as fake bear traps are pretty common. Overall, ETH still seems to have some steam left to it. The recent high is almost 15% from current price points.
Price volatility remained high at approximately 4.2%, with the day's range between $2524.30 — $2630.02
Price at the time of publishing: $2527.00
ETH's market cap: $296.34 Billion
Out of 11 Oscillator indicators, 7 are neutral, 3 are bearish and 1 is bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', 2 are bearish and 12 are bullish .
Indicator summary is giving a BUY signal on ETHUSD .
Volumes have increased in the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24 hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
ADAUSD(4Hr): Cardano moving in an upward triangleMarket in the last 24hrs
The price is moving inside the upward triangle and is seen oscillating between the middle and the upper Bollinger bands. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
The price is expected to continue to move in the upward triangle. If the price moves below the triangle then we can expect a strong bearish trend else if it breaks above the triangle then a stronger bullish momentum is expected.
Price volatility was low at approximately 0.23%, with the day's range between $1.3 — $1.36.
Price at the time of publishing: $1.34
ADA’s market cap: $42.63 Billion
However, the Indicator summary is giving a 'BUY' signal on DOGEUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 8 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 1 is giving SELL signal, 1 is giving neutral and 13 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
ETHUSD(4Hr) : ETH holding a strong bullish momentumMarket in the last 24hrs
Price has been moving sideways. The price can be seen moving between the upper and the middle Bollinger bands. Trading volume has been on the higher side of the spectrum.
Today’s Trend analysis
The price is expected to continue to move in an overall bullish momentum between the upper and middle Bollinger bands. This momentum is expected to continue till the price exits the rising wedge.
Price volatility was very low at approximately 0.36%, with the day's range between $2511 — $2695.
Price at the time of publishing: $2454
ETH's market cap: $287 Billion
However, the Indicator summary is giving a 'BUY' signal on ETHUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 9 are neutral and 0 are giving a BUY signal.
Out of 15 Moving average indicators, 1 is giving a SELL signal, 1 is neutral and 13 are giving a BUY signal.
Trading volume has been high in the last 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
Note: Above analysis would hold if we do not encounter a sudden jump in trade volume.
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Any feedback and suggestions would help in further improving the analysis!
