The BTC/USD pair has another critical support at $7,337.
The price dipped below both moving averages and fell close to the support at $0.24508 where some buying emerged.
If the bears can sustain the price below the support at $203.36, the downtrend will resume.
If the price sustains below $50, the next support on the downside is $40.If the bulls buy the current dip and push the price above $50 quickly, the LTC/USD pair will extend its range-bound action for a few more days.
The first sign of strength will be if the bulls can propel the price above the 50-day SMA. As the pair has been in a long-term downtrend, we will wait for the price to form a reversal pattern before proposing a trade in it.
There is a minor support at $2.18 below which a drop to the yearly low of $1.55 is probable.
The failure of the bulls to push the price above the 50-day SMA has attracted selling that has dragged the price to the first support at $16.50.If this support cracks, a retest of $14.2555 is likely.
If the support levels fail to hold, the downtrend will resume and the next target objective is way lower at $0.028934.
If the bulls defend the support levels, we anticipate another attempt to break out of the downtrend line.
If the TRX/USD pair bounces off the immediate support at $0.0136940, the bulls will once again attempt to push the price above the overhead resistance of $0.018660.
Price Analysis 23/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX
gepubliceerd op Oct 23, 2019
by Cointele | gepubliceerd op Coinage
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