Bitcoin course moves within an ascending channel
The SEC Chairman’s statements have somewhat alleviated regulatory concerns in the industry
The oscillators on the long-term chart also point to an upswing
Bitcoin is still moving around support at $6,500 to signal that buyers are defending this level after regulatory fears have eased.

Technical indicators Signals
The 100 SMA could thwart the 200 SMA from top to bottom in the near future, so another downward pressure could be expected. The Bitcoin course moves within an ascending channel. BTC is currently in the middle of the channel and seems to be approaching channel support at $6,500. The RSI shows a value of 46 and reflects the short-term downward trend in the channel pattern. Interestingly, the RSI forms higher highs and higher lows, so that an increase towards channel resistance is quite possible. The channel resistance is at $6,800 and the MACD has recovered and entered neutral territory.

market factors

market factors
The crypto currencies received a strong boost from the statements of the head of the Division, William Hinman, that Ethereum and Bitcoin are not securities that should be regulated like shares.

“In my understanding of the current state of the ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions.”

Despite yesterday’s manipulation debate, the crypto market has gained value and the importance of regulatory status has been recognised.

Ethereum Prize Highlights
Ether rises and recovered above $500
There was a breach across a large bearish trend line on the hourly chart with a resistance at $482
Ethereum could lose some points, but it’s likely to stay above the $480 mark
Technical indicators Signals
There was a decent level of support at $445. The price began a rally and managed to move above the $460 and $480 resistance levels. There were positive movements that put bullish pressure above $500. More importantly, the breach above a large bearish trend line with a resistance of $482 on the hourly chart. This suggests that there may be further gains above $500 in the near future.

Ethereum Chart from Bitcoin Trader

Ethereum price analysis
Looking at the chart, the price recovered from the $446 low. If the recent upswing continues, there could be further gains above $520. On the downside, the initial support is $500, followed by $480. MACD is gaining momentum in the bullish zone. The RSI positive Bitcoin Trader review has exceeded the 50 mark with positive signs. Ethereum, like Bitcoin, has of course benefited from the SEC Chairman’s statement and can be sure not to be declared a security.

Ripple Price Highlights
The Ripple price gained upward momentum as it kept support at $0.5000
An upward channel is forming on the hourly chart with support at $0.5400
XRP should approach $0.5800 in the short term
Technical indicators Signals
After falling close to $0.5,000, the Ripple price found support against the US dollar. The price hit a low at $0.5035 before the buyers showed up and triggered a rally. XRP climbed and moved over the resistance zones at $0.5200 and $0.5400. Currently, the price is trying to close above the 100-hour SMA and $0.5600. The hourly chart is also forming an upwards channel with support at $0.5400.

Ripple Chart from TradingView

Ripple price analysis
Looking at the chart, the current price development is positive above $0.5400. A break in resistance at $0.5800 could pave the way for a surge above $0.6000. The MACD is moving back into the bullish zone. RSI has passed the 50s mark. The highest support level is $0.5400, while the resistance is $0.5800.

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Note: This is not a buy recommendation but merely the opinion of the analyst. Technical analyses do not guarantee success in trading. Crypto currencies sin