Bitfinex Is Starting to Buy Back and ‘Burn’ Its LEO Exchange Token

Cryptocurrency exchange Bitfinex has announced a transparency initiative that will see it put on full view the buying back and “burning” of its LEO exchange token. In an announcement Friday, the firm said as part of its token redemption process, the UNUS SED LEO Transparency Initiative will allow the public to see parent firm iFinex use its gross revenues to purchase circulating LEO tokens at market rates. These will then be destroyed, or burned, as the firm effectively pays back those who bought the exchange token in a $1 billion sale early last month. Bitfinex…

Ethereum (ETH) Price Rallies Above $260: Turned Buy On Dips

ETH price started a strong upward move after it broke the key $250 resistance against the US Dollar. The price even broke the $255 and $260 resistance levels to move into a positive zone. There is a major bullish trend line forming with support near $252 on the hourly chart of ETH/USD (data feed via Kraken). The pair is correcting lower, but dips remain supported near the $255 and $252 levels. Ethereum price rallied recently with a positive momentum versus the US Dollar, similar to bitcoin. ETH price is now…

Ethereum (ETH) Price Approaching Key Support: Buy Dips?

ETH price topped near the $280 level and recently started a downside correction against the US Dollar. The price is slowly moving lower towards a couple of important supports near $265. Yesterday’s highlighted key ascending channel is intact with support near $266 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to find a strong buying interest near the $266 and $265 support levels. Ethereum price is currently correcting recent gains versus the US Dollar, but declining vs bitcoin. ETH could bounce back as long…

Ethereum (ETH) Price Correcting Gains: Key Buy Zones Nearby

ETH price rebounded nicely and traded above the $240 and $250 resistances against the US Dollar. The price tested the $265 level and it is currently correcting lower towards the $240 support. There is a key bullish trend line forming with support near $240 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to find a strong buying interest near $240 and the 100 hourly simple moving average. Ethereum price remains in a strong uptrend above $240 versus the US Dollar, but consolidating vs bitcoin.…

Bitcoin (BTC) Price Remains Strong Buy On Dips Despite Binance Hack

Bitcoin price traded to a new 2019 high above $5,950 and recently corrected lower against the US Dollar. The price declined below the $5,900 and $5,840 support levels, but it remained well bid. There was a break below a connecting bullish trend line with support near $5,840 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to climb higher once towards the $5,880 and $5,900 levels in the near term. Bitcoin price started a downside correction after testing $5,950-6,000 against the US Dollar.…

Bitcoin (BTC) Price Eyeing Last Line Of Defense: Buy Dips?

There was a strong decline in bitcoin price below the $5,280 support level against the US Dollar. The price even spiked below the $5,000 support level and it is currently consolidating above $5,100. There is a major bullish trend line in place with support at $5,080 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could bounce back as long as there is no weekly close below the $5,000 support level. Bitcoin price started consolidating losses after a strong decline against the US Dollar. BTC…

Ethereum (ETH) Price Fails Again Near $176, Should U Buy?

ETH price struggled once again to gain strength above the $176 resistance against the US Dollar. The price declined sharply and broke the $172 and $170 support levels. There was a break below a major bullish trend line with support at $173 on the hourly chart of ETH/USD (data feed via Kraken). The pair could bounce back above $172 as long as it is trading above the $166 support area. Ethereum price failed to break important resistances versus the US Dollar and bitcoin. ETH declined sharply, but the bulls might…

Ethereum (ETH) Price Correcting Gains But Remains Buy on Dips

ETH price traded above the $174 and $175 resistance levels before it faced sellers against the US Dollar. The price traded towards the $178 level and later started a downside correction below $172. There is a major bearish trend line in place with resistance at $171 on the hourly chart of ETH/USD (data feed via Kraken). The pair could either climb back above $171 or correct lower further towards the $166 support area. Ethereum price started a downside correction versus the US Dollar, but remained flat against bitcoin. ETH could…

Despite Money Tap Dent, Ripple (XRP) Buy Wave is Strong

Ripple prices up, reacting from 32 cents Money Tap blow, Resona Bank discontinue participation Resona Bank is pulling out of Money Tap initiatives, a project fronted by SBI Group. All the same, prices are stable above 32 cents, reversing from Apr-2 lows and with increasing momentum, may close above 34 cents as bulls shore prices. Ripple Price Analysis Fundamentals At core, Ripple is a network that seeks to provide banks with an alternative messaging and settlement system that is fast, secure and beneficial for the end user. It may be…

Bitcoin (BTC) Analysts Split but Indicators Pointing at “Buy”

Bitcoin prices stable above $5,000 Tyler Jenks of Lucid Investments thinks prices will drop towards $4,200 and even $1,000 Fundstrat’s Bitcoin Misery Index is at around three-year-highs meaning investors are loosening their money purses. Whether that will spur demand, driving Bitcoin (BTC) prices above $6,000 will largely depend on how prices react at $4,800 and $5,500. Bitcoin Price Analysis Fundamentals In a space brimming with FUD, scares, and hype, traders ought to be pragmatic and level-headed to avoid liquidating an undervalued asset at a discount. First, we should note that…