Price Analysis: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin.

in #bitcoin6 years ago

 
BTC / USD 

Bitcoin has had $ 6,200 in the past two days but is struggling to climb. Both moving averages are declining and the RSI is also in negative territory. This shows that the sellers are in charge.

 
A support zone break of $ 5,900 - $ 6,075.04 will complete two negative formations, a head and shoulders pattern and a descending triangle pattern. Although the head and shoulders are primarily a reversal pattern, it can also function as a continuation pattern, as is the case today.  The lowest levels that can offer some support are $ 5,450 and $ 5,000. However, after such an important support interval, a number of stops will be achieved, resulting in a rapid drop. Therefore, we suggest that traders avoid getting the knife that falls if $ 5,900 breaks.  If the bulls defend the support zone and push the price above moving averages, the BTC / USD pair could rise to $ 6,900 and $ 7,400. We suggest an aggressive buyout at 50% of the desired position size in a close (UTC time period) above $ 6,600.  The remaining positions can be added after the digital currency closes above the  
downward triangle. 

 
ETH / USD 

The trend in Ethereum is still downward, but we found some buying interest around the $ 183 to $ 192 area. However, on the plus side, the 20-day MME is proving to be a great resistance as bulls have not been able to climb that level in the last four days 

 If the bulls leave the 20-day MME, it is likely to move to the 50-day SMA, with lower resistance in the descending channel downline. Let's become optimistic if the price holds up the channel for three days in a row.

If the ETH / USD pair falls from the current levels, it can slip to $ 192 and more to $ 183. The pair is at a critical level and we should get a clearer picture in the coming days.

 XRP / USD

 
Ripple jumped $ 0.27 on September 18 and broke EMA for 20 days. Currently, it is experiencing resistance in the SMA of 50 days. 

 
If the bulls leave the 50-day SMA, the next resistance will be $ 0.37390. The bottom trend line is also located just above that level. If the XRP / USD pair keeps above the bearish trend line, we can expect the trend to change from the bottom up.  If the purchase dries at higher levels, the virtual currency may spend some more time within the range of $ 0.27 to $ 0.37390. While the leapfrogging is a positive development, we will wait for additional evidence before suggesting any negotiations. 

BCH / USD
When the sentiment is negative, any uncertainty scares investors and that is what seems to be happening with Bitcoin Cash. With an imminent split, buyers are not taking any new positions, which has kept the crypts rate close to their cumulative lows for the year. 

 The trend is low, as both moving averages are falling and the RSI is in negative territory. A fall of the September 11 low of $ 408,0182 will resume the bearish trend and the BCH / USD pair may fall to the next support zone of $ 280 to $ 300.

Bulls need to overcome the resistance of the 20-day MME, the 50-day SMA, and the descending downline trend line to signal a change in trend.


EOS / USD

 EOS has held up $ 4.4930 since August 17. If this support breaks, the slide can extend to the next support at $ 3.7823. Therefore, traders can keep their stops in the remaining long positions at $ 4.4.

 

On the plus side, the bulls are facing strong resistance at EMA for 20 days and $ 5.65. The EOS / USD pair will gain strength if it comes off $ 5.65.

Although the 50-day SMA is decreasing, the 20-day EMA is trying to flatten. The RSI continues in the negative area. This shows that the virtual currency is in a range, but with a negative bias.

XLM / USD

Stellar formed a gap within a range. Since September 11, it has traded within the range of $ 0.184 to $ 0.21489857. If the bulls get out of this range, a rally to the top of the big range of $ 0.184- $ 0.24987525 is likely.

The critical level to watch on the downside is $ 0.184. If the XLM / USD pair breaks and sustains below the range, it will complete a descending triangle pattern, which is a negative sign.

On the other hand, if the bulls are out of range and the downward trend line of the descending triangle, this will invalidate the bullish low, which is a bullish bullish. We will expect the virtual currency to show some strength before recommending any trading on it.

LTC / USD

 Bulls defended critical support on September 18, but the retreat is facing resistance on the downtrend line and the 20-day EMA. Currently, Litecoin is consolidating across a broad range of $ 49,466 - $ 69,279 - a lawsuit that began on August 8.

 
The LTC / USD pair will resume its bearish trend if it remains below $ 47,246. The next support on the downside is between $ 40 and $ 44.  On the plus side, the virtual currency could rise to $ 69,279 if it comes out of moving averages. We can suggest a long position in a range because it will indicate a probable double bottom


Thanks.

By:  Rakesh Upadhyay 

Article: Click Here