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The market data are taken from HitBTC exchange.
The Trend on the crypto market is still in decline. After a period of low volatility in the crypto currencies are back in decline. Even after such a massive fall, there is no buyer for crypto-currencies, because the money flows back into Gold, the traditional safe port of call, says Jan Van Eck, CEO of Van Eck Associates.
increases The demand for financial resources of Crypto. Galaxy Digital, supported by Michael Novogratz, is to raise by March 250 million US dollars (218 million euros) for loans to Crypto. Most of the large investment banks and Fund keys be careful of this company, but Nouriel Roubini believes, however, that the Blockchain “is not better than an Excel spreadsheet”.
Iran wants to use crypto-currencies to work around the recent US sanctions. The Islamic Republic is planning a government-backed crypto currency that will bypass the existing global SWIFT System, which facilitates cross-border payments.
While we are in regard to the crypto-area in the long term optimistic, short-term course the course is rather depressing. The market has not yet found a solid ground and positions is open in a downward trend is a bad strategy. How far crypto currencies collapse? Let us find out.
BTC/USD
As already in mid-November of last year, the narrow margin in Bitcoin (BTC) below. The bears will now try to get under the low for the year, a total of 3,236,09 US Dollar (2.828,21 Euro) and the down trend to resume, while the bulls will try to defend this level.
The price is below both moving averages and the RSI is near the oversold level, suggesting that the bears have the upper hand. A Pullback is likely to be selling at the moving averages and the downtrend line.
fall Below a total of 3,236,09 US Dollar (2.828,21 Euro), the BTC/USD Pair at $ 3,000 (2.622 EUR). This level represents a psychologically important support. Also, this level should not be held, may extend the downward trend up to 2,600 US dollars (2.272 Euro) and including up to 2,400 U.S. dollars (2.097 Euro).
it is Our pessimistic assessment is void, if the digital currency, a total of 3,236,09 US Dollar (2.828,21 Euro) jumps out of a strong and a clear recovery occurs. We have to wait until the Trend is changing, before we suggest a trade.
XRP/USD
Ripple (XRP) is on 27. January fell on 0,30550 US Dollar (0,2673 Euro) and thus below the support zone of $ 0.31 (0.27 Euro). Then, the sales increased.
The immediate support lies at 0,27795 US Dollar (0,2432 Euro). Below this a retest of the year low stands of 0,24508 US Dollar (0,2144 Euro). The Trend is clearly on the decline, since both the moving averages tend to be downward and the RSI is near the oversold level.
The XRP/USD Pair indicates strength, if the cops can raise the price above the downward trend line and the two moving averages. Therefore, we prefer to wait until a purchase of constellation is, before we recommend a trade.
ETH/USD
Ethereum (ETH) and the castle (UTC) on may 27. January below its strong support at 116,30 US Dollar (101,64€). He can now drop to 100 US dollars (87 Euro), which is a psychologically important support, and a re-Test of levels of 83 US dollars (73 euros) is possible.
The moving averages have made a bear-crossover and the RSI is near the oversold area, suggesting that sellers have the upper hand.
The ETH/USD Pair, pointing to a recovery when the price is over the moving averages can hold. We need to wait until a pattern develops that indicates a trend reversal, before we recommend a trade.
EOS/USD
EOS is of the sliding bent is cut Through to the bottom. Currently, the bears are trying to direct support for 2,1733 US Dollar (1,9016 Euro) down. If that succeeds, it can extend the decline to 1,7746 US Dollar (1,5528 Euro) to 1.55 US Dollar (EUR 1.35).
Both moving averages are flat, suggesting a probable consolidation. If the bulls defend the support at 2,1733 US Dollar (1,9016 Euro), the EOS/USD Pair continues in a range. We could propose a trade, if the price climbs over 2.60 US dollars (2.27 euros). Until then, we remain in the crypto-currency neutral.
BCH/USD
Bitcoin Cash (BCH) is on 27. January fell below the narrow range between 141 US $ (123 Euro) and 121,30 US $ (106,01 Euro). He is currently just below the 78,6% Fibonacci burglary level, the upward movement of 73,50 US Dollar (64,24€) 239 US $ (209 Euro).
If this support is broken, it is, conversely, upward movement is likely to be 100 percent. There is a small support at the psychologically important support at US $ 100 (87 Euro), but it is unlikely that this state holds.
The 20-day EMA is bent downwards and the RSI is approaching the oversold zone, indicating that sellers have the upper hand. We have to wait until the BCH/USD Pair forms a reversal pattern, before we give a positive evaluation. Until then, we suggest that traders wait and watch.
LTC/USD
The attempt of the bulls, Litecoin (LTC) to lift over the upper end of the narrow margin of 33 US dollars (29 euros), failed at 26. January.
Currently, the bears are trying to make the LTC/USD Pair below the support zone between 29,349 US Dollar (25,681 Euro) and 27,701 US Dollar (24,239 Euro) to decrease. If not, the entire crypto market falls, we expect the bulls to defend the above-mentioned support levels. Therefore, we recommend traders to set their stops at 27.50 USD (24,03 Euro). If the bears let the rate 27.50 USD (24,03 Euro) drop, a re-Test of the lowest level at 23,090 US $ (20,204 Euro). The crypto-currency signals strength and, if the course includes over 33 US dollars (29 euros).
TRX/USD
Tron (TRX) triggered our buy recommendation on the 26. In January, it closed above resistance of its long-term margin.
The break-in on the crypto market has to let him, however, in the margin, to decline. He is currently trying to hold the 20-day EMA. If the support holds, try the cops again, to lift the rate over the span.
If the TRX/USD Pair falls below the 20-day EMA, which is a negative Signal. Therefore, traders with Long positions should set your Stop-Loss Limit at 0,023 US Dollar (0,020 Euro). If the bears manage to make the Couple under 0,023 US Dollar (0,020 Euro), the decrease may extend the decline to the 50-day SMA, and below, on 0,0183 US Dollar (0,0160 EUR). The Trend is negative, when the bears leave the course under 0,0183 US Dollar (0,0160 EUR) to decrease.
XLM/USD
Stellar (XLM) has fallen below the low for the Year of 0,09285498 US Dollar (0,0812 Euro). This is a negative Signal. Both moving averages are falling and the RSI is near the oversold level. This shows that the supply exceeds the demand.
fall When the XLM/USD Pair under 0,09285498 US Dollar (0,0812 Euro) includes (UTC) on 0,07864971 US Dollar (0,0688 euros) and including 0,05795397 US Dollar (0,0507 Euro).
If the cops lift the rate, however, quickly return to 0,09285498 US Dollar (0,0812 Euro), he can up to the downtrend line to climb. We wait until a bull has formed pattern before, our assessment is positive.
BSV/USD
After a period of low volatility, has increased the margin down. The 20-day EMA is trending down and the RSI is near the oversold level. This suggests that sellers have the upper hand. Bitcoin SV (BSV) has been corrected to the critical support at 65,031 US Dollar (56,903 Euro).
If the bears let the BSV/USD Pair under 65,031 US Dollar (56,903 Euro) to fall, it can slide to the next support at 57 US dollars (50 euros). Including a new Test of 38,528 US Dollar (33,712 Euro) is likely to be.
Our pessimistic assessment is void if the cops of the current support can again jump to the top, and the course on 80,352 US Dollar (70,308 Euro). We wait for a trend to announce reversal, before we suggest a trade.
ADA/USD
Cardano (ADA) is on 27. January, the small uptrend line and the 50-day SMA fell. The bears took advantage of the opportunity and pushed the price back to the support line of the ascending channel.
If the Zone between the support line of the channel and 0,036815 US Dollar (0,0322 Euro), the bulls, the uptrend line and the 20-day-EMA.
If the support zone does not hold, however, can fall the ADA/USD Pair to the year low of 0,027237 US Dollar (0,0238 Euro). The 20-day EMA is trending down and the RSI is in the negative range. This shows that the path of least resistance is down. We wait until the price is above the 20-day EMA before we can assess the crypto-currency in a positive way.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.
