Contrary to our expectations, if the price plunges below $3.8723, it might descend to the next support at $1.55.
We suggest traders wait for the price to breakout and close above 20-week EMA before buying with a stop loss of $3.20.LEO/USDArrington XRP Capital and the Arca crypto investment fund have acquired a stake in Unus Sed Leo, the native token of Bitfinex, through offshore investment vehicles.
Even with news not being very favorable, the price has turned out to be a winner in the past seven days.
As the price is trading below both moving averages and the RSI is close to the oversold zone, the advantage is with the bears.
Conversely, if the price attempts a recovery, it will face resistance at 20-day EMA and above it at $1.40.
We suggest traders wait for the price to break out and sustain above $1.40 before attempting to buy it.
Can the price recover or will it fall further from current levels? Let's find out.
The price turned down from the overhead resistance of $10 after bulls failed to scale it for five weeks.
Currently, the price has dipped below both moving averages, which have flattened out.
We believe traders should wait for the price to scale above 20-week EMA before establishing fresh positions.
Top-5 Crypto Performers: EOS, LEO, ETC, ADA, XMR
gepubliceerd op Jul 28, 2019
by Cointele | gepubliceerd op Coinage
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