Crypto and Oil Market Slumps Are Sign of Approaching ‘Flash Crash’ in Markets

Analysts from Bank of America Merrill Lynch have said that the crash in cryptocurrency and oil markets are indicators of a looming “flash crash” in markets, Reuters reported Nov. 16. The strategists reportedly suggested that rising volatility across various asset classes and deleveraging, such as that which happened in oil markets over the past weeks, are signs of the evolution of a bear market. On Nov.14, Bitcoin (BTC) price slumped below $5,400, while total market capitalization of all cryptocurrencies dropped as low as $174 billion. The price dive marked a…

Ethereum Classic Price Analysis: ETC/USD Approaching Significant Support

Key Highlights Ethereum classic price traded close to $10.00 before correcting lower against the US dollar. There is a major bullish trend line in place with support at $9.40 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is likely to find a strong buying interest near the $9.40 or $9.20 support level. Ethereum classic price started a downside correction against the US Dollar and Bitcoin. ETC/USD is approaching a few important supports above the $9.20 level. Ethereum Classic Price Analysis In the last analysis,…

Ripple Price Analysis: XRP/USD Approaching Buy Region Near $0.5250

Key Highlights Ripple price extended gains towards $0.5620 before started a downside correction against the US dollar. There are two bullish trend lines in place with support at $0.5320 and $0.5200 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently correcting lower, but dips remain supported near the $0.5200 zone. Ripple price is placed nicely in an uptrend against the US Dollar and Bitcoin. XRP/USD may find buyers once again near $0.5200 for a fresh upward move. Ripple Price Analysis After a minor…

Bitcoin Cash Price Analysis: BCH/USD Approaching Next Key Break

Key Points Bitcoin cash price is currently consolidating above the $535 support against the US Dollar. There is a key contracting triangle formed with resistance at $570 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to make the next move either above $570 or below $550 in the near term. Bitcoin cash price is preparing for the next move against the US Dollar. BCH/USD could rally once again if there is a break above the $570 resistance. Bitcoin Cash Price Analysis Yesterday,…