A breakdown of this zone will indicate weakness and can drag the price to $140. Therefore, the traders can protect their long positions with stops placed at $150.XRP/USDThe bounce off the neckline of the inverted head and shoulders pattern is struggling to stay above $0.2326.
If XRP fails to climb above $0.24 quickly, the bears will again attempt to sink the price below the neckline.
If the bulls can push the price above $360, a rally to $403.88 is possible.
We will wait for the price to sustain above $360 before suggesting a long position once again.
If the bulls fail to propel the price above $360, the BCH/USD pair might dip to $306.78 and remain range-bound for a few days.
Contrary to our assumption, if the bulls can push the price above $337.80, the pair might pick up momentum and rally to $400 and above it to $458.74.
The bounce off the support has not been strong as the price has not scaled above $60.LTC USD daily chart.
If the price fails to climb above $60, the bears will attempt to sink the price below $55. If successful, a drop to the 20-day EMA at $53 is possible, which is likely to act as a strong support.
If EOS does not move up quickly, the bears will attempt to sink the price back below the moving averages.
Contrary to our assumption, if the bulls fail to propel the price above $0.0461161, the ADA/USD pair is likely to dip back to the 20-day EMA. We anticipate the price to bounce off this support.
Price Analysis Jan 22: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XLM, ADA
gepubliceerd op Jan 22, 2020
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.