News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • The Nasdaq 100 index has likely formed an inverse “Head and Shoulders” pattern, which is typically viewed as a bullish trend reversal indicator. Prices may advance further to challenge their all-time highs. Get your market update from @margaretyjy here: https://t.co/tvkE2y6X03 https://t.co/nxxMZFB3Pu
  • Earnings season begins this week with the arrival of quarterly reports from the country’s largest banks. Can they shrug off losses from the recent Archegos blowup and rally higher or will risk aversion take root? Market update from @PeterHanksFX here: https://t.co/Q0LEH8fHzu https://t.co/ywVQ1KwZ26
  • Traders focus a lot of their energy on spotting the perfect time to enter a trade. While this is important, it is ultimately where traders choose to exit trades that will determine success. Learn about the three types of trading exit strategies here: https://t.co/muYkTNXH7s https://t.co/i70XLrni1w
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/Zl7sfu0OT2
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/QqlZ2dQgVv
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/lvIUu5FHoq
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/bpKdIqGxsn
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/jmcAIW4w5k
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/M9isuvnzqF
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here: https://t.co/6Ct5R0H41F https://t.co/c4rXmMjMrv
Bitcoin, Ethereum, Ripple Prices - Cryptocurrency Market Slumps 76% YTD

Bitcoin, Ethereum, Ripple Prices - Cryptocurrency Market Slumps 76% YTD

Nick Cawley, Strategist

Bitcoin, Ethereum, Ripple: Prices and Analysis

  • Bitcoin (BTC) breaking below $6,000.
  • Ethereum (ETH) has lost 34% in the last week.
  • Ripple (XRP) down 92% in 2018.

IG Client Sentiment Reportshows that retail investors remain heavily long of Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH) as prices continue to plummet. See how daily and weekly changes shift sentiment.

Cryptocurrency Market – Another Day of Double-Digit Falls

The cryptocurrency market remains in freefall with most tokens racking up double-digit losses with little news prompting the last fall. The downtrend that has been in place since the mid- to late-January highs remains in control with noted support levels being breached seemingly with ease. Bitcoin has out-performed the general market malaise but is still 65% lower from its January 7 high of $17,212. Bitcoins’ market dominance is up from a year-to-date low of 32.5% to a current level of 53.4%, highlighting this outperformance.

The cryptocurrency marketplace has lost $636 billion since its high print of $833 billion in January as altcoins plummet. The third-largest crypto by market capitalization, Ripple, has dropped in value from $143 billion to a current level of $10.45 billion, according to data from CoinMarketCap.

Bitcoin and Ripple Technical Analysis and Price Levels

Bitcoin, Ethereum, Ripple and Litecoin -- Year-to-Date Losses (High to Low)

  • Bitcoin (BTC) – currently $6,025 - down 65% from January 7 high of $17,212.
  • Ethereum (ETH) – currently $268 – down 81% from January 14 high of $1,420
  • Ripple (XRP) – currently $0.262 – down 92% from January 4 high of $3.30
  • Litecoin (LTC) – currently $51.5 – down 83% from January 6 high of $307

We cover Bitcoin, Ripple, Ethereum and a range of other cryptocurrencies, at our Weekly Cryptocurrency Webinar on Wednesdays at 12:00pm.

Ethereum Down 34% in One Week

The second-largest cryptocurrency Ethereum has been under heavy selling over the last week and has broken through strong support at $359, the April 1 swing-low. ETH currently is back at levels last seen in September last year, having fallen through the cluster of trades between $270 and $320 seen in late September to Late November 2017. The next level of support is at $200, the September 15 low and the start of the sharp rally up to $1,420.

Ethereum (ETH) Daily Price Chart (September 2017 – August 14, 2018)

Bitcoin, Ethereum, Ripple Prices - Cryptocurrency Market Slumps 76% YTD

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