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World stock markets turned higher again Tuesday, helped by strong earnings reports from major U.S. companies. Investment banks Morgan Stanley and Goldman Sachs, healthcare products company Johnson & Johnson and health insurer UnitedHealth all climbed after announcing their third-quarter results….
Taylor Swift certainly talked a big game by endorsing 2 candidates in Tennessee, but a bunch of other celebs are doing more than talking — they’re paying to support their fave Democrats. We did some digging into 2018 Federal Election…
Encouraging reports on hiring and growth in the service sector sent small companies and banks higher Wednesday and knocked bond prices into a tailspin. The yield on the benchmark 10-year Treasury note surged to its highest level in more than seven years.
Both reports were stronger than analysts…
Since yesterday’s update, the cryptocurrency markets have produced a strong bounce over the last 24 hours. Of the top ten cryptocurrencies by market cap, Ethereum, and Monero were the day’s top gainers – both of which have posted gains of over 15% in the last 24 hours.
BTC Tests $ 6,500
In the last 24 hours, BTC has gained by roughly 3% – with current prices testing resistance at the $ 6,500 USD area as of this writing.
Looking at the daily chart, the stochastic RSI appears poised to break above the 20 threshold – signaling that more bullish action may ensue should BTC be able to produce and hold a strong break above the $ 6,500 area.
Bitcoin Cash Gains 7% in 24 Hours
BCH produced gains of approximately 7% in the last 24 hours, bouncing off a new low for 2018 of $ 410 yesterday to now be trading for roughly $ 455.
The bullish move for BCH coincided with a roughly 5% gain over BTC – with BCH currently trading for around 0.07 BTC after bouncing off 0.066 BTC yesterday.
Ethereum Shorts and Longs Continue to Test Record Highs
Of the top ten cryptocurrencies by market capitalization, Ethereum has produced the strongest gains during the last 24 hours of price action. As of this writing, ETH is trading for $ 205 – up more than 18% from yesterday’s lows of roughly $ 170.
The number of open ETH/USD short positions is currently testing the all-time high area of 240,000 for the second time since the record was established just three days ago.
The number of ETH/USD longs appears to be retracing to test the area of September 5th’s prior all-time high of roughly 330,000, after yesterday establishing a new record of approximately 360,000.
ETH has gained roughly 15% over BTC in the last day, bouncing from 0.027 BTC to test resistance at 0.032 BTC.
For two consecutive days, ETH/USD has posted a larger trade volume than BTC/USD to comprise the most traded pairing on Bitfinex.
Monero Gains by 17.4% in 24 Hours
XMR was the second strongest performing of the top ten cryptocurrencies by market cap today – gaining approximately 17% over yesterday’s low of $ 96. XMR is trading for $ 114 as of this writing.
When measuring against BTC, XMR has rallied roughly 12.5% from yesterday’s low of 0.0155 BTC, with XMR trading for 0.0175 BTC as of this writing.
Do you think the cryptocurrency markets will continue to produce bullish momentum in coming days? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Tradingview, Bitcoinwisdom
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The post Markets Update: Ethereum Leads Strong Altcoin Rally appeared first on Bitcoin News.
Hidden in the strong economic statistics, many U.S. firms at home and in China feeling pain of tariffsSeptember 13, 2018 | dailybusinessnews
Partially masked by the percolating economy and highflying stock market, tariffs imposed by the Trump administration and retaliation by U.S. trading partners have begun to cause significant pain for a large and growing swath of U.S. businesses at home and abroad.
Companies and establishments from…
Wage growth accelerated last month to its best year-over-year rate since 2009 in a strong jobs report released Friday, increasing the likelihood that Federal Reserve officials will keep hiking a key interest rate to head off higher inflation.
The Labor Department reported that the U.S. added 201,000…
Despite a strong economy, about 40% of U.S. families struggled to meet at least one of their basic needs last year, including paying for food, healthcare, housing or utilities.
That’s according to an Urban Institute survey of nearly 7,600 adults that found that the difficulties were most prevalent…
Rescuers still haven’t reached some devastated parts of the Indonesian tourist island of Lombok after a powerful earthquake flattened houses and toppled bridges, killing at least 91 people and shaking neighboring Bali, authorities said Monday. The death toll is expected to rise. It was the second deadly quake in a…
Ignoring the swirl of sexual harassment allegations that threaten to end his long and successful career, CBS Chairman and Chief Executive Leslie Moonves was characteristically upbeat Thursday as he ticked off a list of his company’s financial achievements in a call with investors.
Interest in CBS’…
Apple delivered its best-ever revenue for the June quarter, typically its weakest period, as demand for high-price iPhones remained resilient and services such as app-store sales swelled to a record.
WSJ.com: US Business