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Bitcoin price fell during Asian trading hours after a weekend diplomatic push between Washington and Tehran broke down and a new US maritime order raised fresh concern over energy flows from the Middle East. This pulled the top crypto lower alongside equities, reinforcing the market’s sensitivity to oil, inflation, and broader risk sentiment. According to […] The post Bitcoin price clings to $70,500 support after US-Iran talks collapse and oil spikes past $103 appeared first on CryptoSlate.

Mining costs in parts of the US have climbed past $100,000 for a single bitcoin, pushing operators to pack up and move. Paraguay and Ethiopia have emerged as top destinations, both offering surplus hydroelectric power that keeps electricity bills low. According to crypto exchange KuCoin, the shift is already underway, with hash rate actively migrating […]

Over the last week, the Bitcoin bulls looked to have taken control of the price, eventually pushing it back above $73,000 again. There has been a slowdown since then, with bears trying to retest the $70,000 level over the weekend. For now, the bulls are still open, but there is still the possibility that the price will crash again. To that end, the Bitcoin price has an important support level to hold if the bulls are actually going to sustain the uptrend. The Magic Point For Bitcoin Lies At $70,500 After the initial rejection from the range highs, the Bitcoin price is now moving toward a crucial level. According to crypto analyst Max Trades, it is now moving toward the next major support level that bulls must maintain. This level lies just at $70,500, being the major support since the uptrend began. Related Reading: Bitcoin Supply Shock Brewing? Whales Step Back As Long-Term Holders Absorb $49B This key support level is important to hold because it will determine whether the uptrend will continue. The range high still lies above $72,000 right now, so that is where the bears are putting up the most resistance. Thus, the price will need to break the range high to continue upward, or break the key support to resume the downtrend. Another major thing that is dragging down the price is the fact that there is still a CME gap that is not filled yet. This CME gap lies below $67,000, making it a magnet for the bears. Given this, if the Bitcoin price ended up breaking the key support at $70,500, then it would start weakening the bullish structure that started to play out last week. Pushing toward the CME gap would mean a break below $67,000, pushing toward $66,000 to make a bottom. However, even this would not determine that it is the bottom of the downtrend, as there is the possibility of a further push down to grab more liquidity. The major liquidity levels lie below $65,000, which is where the whales could push toward to make the most of the move. This means that in the event that the key support is broken, it would only be the start of the trend. The eventual move would be a cascading event that could send it even lower. Related Reading: Ethereum Is About To Go ‘Parabolic’ – Analyst Signals Golden Triangle Formation However, the crypto analyst does explain that the Bitcoin price is not bearish at this time. This is because the price remains range-bound, and trading above the key support level holds it here. “An important point to keep in mind is that BTC is still range bound, and as long as that remains the case, price will mostly be liquidity driven, hunting both sides.” Featured image from Dall.E, chart from TradingView.com

Crypto analyst Captain Faibik has announced that the Bitcoin price is still very much bearish despite the recovery. This comes after the market sentiment shifted as the Bitcoin price began to surge last week and then eventually claimed the $70,000 resistance, turning it into support again. Despite a lot of Bitcoin investors turning bullish off […]

Dogecoin started a fresh decline below the $0.0930 zone against the US Dollar. DOGE is now consolidating losses and might face hurdles near $0.0925 and $0.0938. DOGE price started a fresh decline below the $0.0930 level. The price is trading below the $0.0920 level and the 100-hourly simple moving average. There was a break below a bullish trend line with support at $0.0925 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could extend losses if it stays below $0.0925 and $0.0930. Dogecoin Price At Risk of More Downsides Dogecoin price started a fresh decline after it closed below $0.0935, like Bitcoin and Ethereum. DOGE declined below the $0.0932 and $0.0930 support levels. There was a break below a bullish trend line with support at $0.0925 on the hourly chart of the DOGE/USD pair. The price even traded below $0.0905. A low was formed near $0.0903, and the price is now showing bearish signs. There was a recovery wave above $0.0910, but the price stayed below the 23.6% Fib retracement level of the downward move from the $0.0948 swing high to the $0.0903 low. Dogecoin price is now trading below the $0.0920 level and the 100-hourly simple moving average. If there is a recovery wave, immediate resistance on the upside is near the $0.0920 level. The first major resistance for the bulls could be near the $0.0925 level and the 50% Fib retracement level of the downward move from the $0.0948 swing high to the $0.0903 low. The next major resistance is near the $0.0930 level. A close above the $0.0930 resistance might send the price toward the $0.0938 resistance. Any more gains might send the price toward the $0.0950 level. The next major stop for the bulls might be $0.0980. More Losses In DOGE? If DOGE’s price fails to climb above the $0.0925 level, it could continue to move down. Initial support on the downside is near the $0.0905 level. The next major support is near the $0.090 level. The main support sits at $0.0880. If there is a downside break below the $0.0880 support, the price could decline further. In the stated case, the price might slide toward the $0.0820 level or even $0.080 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.0905 and $0.0900. Major Resistance Levels – $0.0925 and $0.0938.

XRP price extended losses and traded below $1.340. The price is now consolidating losses and faces hurdles near $1.3420 and $1.3440. XRP price started another decline and traded below the $1.340 zone. The price is now trading below $1.3420 and the 100-hourly Simple Moving Average. There was a break below a rising channel with support at $1.3450 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below $1.350. XRP Price Dips Again XRP price failed to stay above $1.350 and extended its decline, underperforming Bitcoin and Ethereum. The price declined below $1.3450 and $1.3420 to enter a short-term bearish zone. There was a break below a rising channel with support at $1.3450 on the hourly chart of the XRP/USD pair. The price even extended losses below $1.40. A low was formed at $1.320, and the price is now consolidating losses. There was a minor upward move above the 23.6% Fib retracement level of the downward move from the $1.3754 swing high to the $1.320 low. The price is now trading below $1.340 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.3420 level. The first major resistance is near the $1.3480 level or the 50% Fib retracement level of the downward move from the $1.3754 swing high to the $1.320 low. The main resistance could be $1.3620. A close above $1.3620 could send the price to $1.3750. The next hurdle sits at $1.380. A clear move above the $1.380 resistance might send the price toward the $1.3880 resistance. Any more gains might send the price toward the $1.40 resistance. More Losses? If XRP fails to clear the $1.3480 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.320 level. The next major support is near the $1.30 level. If there is a downside break and a close below the $1.30 level, the price might continue to decline toward $1.2880. The next major support sits near the $1.2750 zone, below which the price could continue lower toward $1.250. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $1.3200 and $1.3000. Major Resistance Levels – $1.3420 and $1.3480.

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