ETH/USDEther declined below the uptrend line on Aug. 9, but the bears could not break below the psychological support of $200. The bulls are now attempting to propel the price back above the uptrend line.
We might suggest a long position on a close Coordinated Universal Time above $235.70.On the other hand, if the price fails to sustain above the uptrend line, bears will again attempt to break below the next support of $192.945.
The next target to watch on the downside is $0.19.Conversely, if the price holds $0.27795 and rises above the 20-day EMA, it might consolidate between $0.27795 and $0.34229 for a few days.
We suggest traders wait for the price to sustain above the 20-day EMA before turning positive.
If the price moves above the 20-day EMA, the LTC/USD pair might consolidate between $83.65 and $105.676 for a few days.
The bounce from the support lacks strength because it has not been able to move above the 20-day EMA. If bulls can push the price above the 20-day EMA, the cryptocurrency can reach the 50-day SMA, which is close to the horizontal resistance of $4.8719.
We will wait for the price to break out and close above $4.8719 before recommending a trade in it.
If the price breaks down of the 20-day EMA, it can drop to the support line of the channel.
The bulls will attempt to defend this support and propel the XMR/USD pair back above both moving averages and the overhead resistance of $98.2939.Conversely, if the price breaks down of the support line of the channel, it can correct to $72. Therefore, traders can keep the stops on the long position at $77.XLM/USDStellar broke below the critical support of $0.072545 on Aug. 9, but the bears could not capitalize on the breakdown.
The digital currency has pulled back and has reached close to the 20-day EMA.The bears have not been able to close above the 20-day EMA since breaking down of it on Jun.
Price Analysis 12/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM
gepubliceerd op Aug 12, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.