We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bearish
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • The $USD appears to be stalling against the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah and Philippine Peso, but technical analysis may still favor USD strength. Get your market update from @ddubrovskyFX here:https://t.co/AZp98MoXKo https://t.co/84gjVGR7xJ
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/4:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/CRInm9Zxbo
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.02% Gold: -0.05% Oil - US Crude: -0.49% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7CL7RArvMU
  • #GBP, #NOK and the #SEK are expected to be the most active G10 currencies vs #USD with 1-week implied volatilities at 18.98, 9.52 and 9.45 respectively
  • "Mr. Powell may also allude to rising risks in the financial system, specifically as it relates to..." Find out here ⬇️ https://www.dailyfx.com/forex/fundamental/article/special_report/2019/12/09/British-Pound-USD-NOK-May-Rise-on-FOMC-ECB-and-UK-Election.html
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.05% 🇯🇵JPY: 0.00% 🇪🇺EUR: -0.07% 🇨🇭CHF: -0.08% 🇦🇺AUD: -0.19% 🇳🇿NZD: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/TxSGwiZkTj
  • RT @FirstSquawk: HOUSE DEMOCRATS AND USTR LIGHTHIZER ARE NEARING A DEAL FOR CONGRESS TO PASS A MODIFIED U.S. TRADE AGREEMENT WITH CANADA AN…
  • LIVE NOW: Join Senior Strategist @IlyaSpivak as he discusses the outlook for the financial markets in the week ahead! Register here: https://www.dailyfx.com/webinars/889679267?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.91%, while traders in US 500 are at opposite extremes with 79.78%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jaWZsNNP8S
  • LIVE IN 30 MIN: Join Senior Strategist @IlyaSpivak as he discusses the outlook for the financial markets in the week ahead! Register here: https://www.dailyfx.com/webinars/889679267?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
Bitcoin, Ether, Ripple Analysis - Support Needs to Hold | Webinar

Bitcoin, Ether, Ripple Analysis - Support Needs to Hold | Webinar

2018-08-01 12:00:00
Nick Cawley, Analyst
Share:

Cryptocurrency Prices, News and Technical Analysis

  • ETF market ‘noise’ has died down for now.
  • Latest sell-off needs to consolidate if prices are to move higher.

Cryptocurrency Prices Move Lower

Cryptocurrencies across the board fell, led by recent market outperformer Bitcoin, in quiet market conditions with little of note to explain the sell-off. A rumoured large sell order on Tuesday was countered by a large buy order later in the session but the net effect was Bitcoin (BTC) back at lows last seen one week ago. Most of the top 6 cryptos are now close to noted support levels which need to hold if the market wants to turn higher.

Ripple (XRP) yesterday bounced off strong support at $0.425 and needs to consolidate above here to move higher. However a break and close below here could see XRP fall all the way back to around $0.20 - $0.25, the starting point of the sharp rally up to the $3.35 area.

Ripple (XRP) Four Hour Price Chart (June 15 – August 1, 2018)

Bitcoin, Ether, Ripple Analysis - Support Needs to Hold | Webinar

Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Litecoin or Ripple we can help you begin your journey. We have an Introduction to Bitcoin Trading Guide along with a Free Demo Account so you can practice trading this volatile asset class.

IG Sentiment Data show how retail are positioned in various cryptocurrencies and how changes in holdings can affect market sentiment.

What’s your opinion on the latest market mini-slump? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at nicholas.cawley@ig.com.

--- Written by Nick Cawley, Analyst.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.