If the ETH/USD pair turns down from the 20-day EMA and plummets below the 50-day SMA, it can drop to the next support at $225. The pair has held out quite well in the recent correction, which is a positive sign.
A failure to break out of the 50-day SMA in the next couple of days will attract selling that can drag the price to the support line of the channel.
We now expect the bears to attempt to sink the price below the support.
The zone between $100 and the support line of the channel is likely to act as a strong support.
Iif the pair breaks below the support line of the channel, it will turn negative and can plunge to $84 and below it to $71. Conversely, if the cryptocurrency rebounds from the current levels, the bulls will again try to propel the price to $140.3450.EOS/USDThough the bulls have held the support at $5.550 for the past two days, they have not been able to achieve a strong bounce.
If the EOS/USD pair breaks down of $5.550, it can correct to the strong support of $4.4930.
Aggressive traders can wait for the price to take support at $172.910 and buy on the way up.
The stop loss for the trade can be kept at $170. Our view will be invalidated iIf the bears sink the BSV/USD pair below the support.
A rebound from the support can carry the price to the moving averages, which will provide some resistance.
Contrary to our assumption, if the bears plummet the ADA/USD pair below the support zone, it can drop to the next support of $0.060.
Price Analysis 03/07: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, TRX, ADA
gepubliceerd op Jul 3, 2019
by Cointele | gepubliceerd op Coinage
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