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The market data are taken from HitBTC exchange.
Jeff Schumacher, the founder of BCG Digital Ventures, told CNBC in a panel discussion in the Swiss town of Davos, that Bitcoin will fall to Zero. In a further Interview with Fox Business, the Fund said Global Managing Partner Thomas Lee joined that Bitcoin could still reach up to US $ 25,000 (21.907 Euro), what he described as its true market value.
analysts at JPMorgan Chase forecast that Bitcoin will probably drop to $ 2,400 (2.103 euros) and finally to 1.260, US Dollar (€1,104). So, different assessments can be confusing to new investors who want to get in the crypto market.
We believe that traders should the fundamental developments in the crypto field, as well as on the development of the Charts in focus. Crypto currencies as an asset class are on the rise.
Many Blockchain projects to bring each month to capital through traditional investors. This confirms that these investors are convinced of the long-term potential of crypto. Crypto companies bring new products to the market in order to attract institutional investors.
In addition, there are initiatives to crypto-currencies to the Mainstream-to integrate the economy. It is only a matter of time until the bear market ends and a new bull phase starts.
However, we expect this time no vertical rise as in the year 2017. It will likely be a gradual increase. Some of the most important crypto-currencies are showing signs of a bottom formation. Let’s see if one of the Top performers offers this week to purchase.
TRX/USD
Tron (TRX), has awarded in the last week as the Top Performer among the among the largest Coins by market capitalization. In his weekly report, it was from Tron, that there is in the network over “150 DApps and more than 300 Smart Contracts”.
At the recent niTron summit, said the Tron-founder and CEO Justin Sun that he expects that the number of decentralized applications (DApps) is going to rise in the network until the end of the year to 2,000.
The TRX/USD Pair looks strong. The bulls are trying to hold above the overhead resistance at 0,02815521 US Dollar (0,0247 Euro). Since the Cryptocurrency is sitting since the middle of August in this range, we assume that an outbreak will lead to a new upward trend.
The immediate goal is $ 0.40 (0.35 Euro), but we assume that this will be exceeded, and the rally on 0,05218328 US Dollar (0,0457 Euro) will cover. Therefore, we recommend Long positions at a closing (UTC) on 0,02815521 US Dollar (0,0247 Euro). The Stop should be set Loss at something of 0.021 US dollars (0,0184 Euro).
If the crypto-currency could not hold back the outbreak, however, and again under 0,02815521 US Dollar (0,0247 Euro), it remains in a range between 0,0183 US Dollar (0,0160 EUR) and 0,02815521 US Dollar (0,0247 Euro). The mood is weaker when the bears leave the rate below the support of 0,0183 US Dollar (0,0160 EUR) to decrease.
LTC/USD
Litecoin (LTC) has a new Slogan: “Take control of your money and you will pay with Litecoin”. Also, a new Logo has the company come up with. The Logo was presented for the first time on a UFC Event, which was sponsored by the company, and has found wide recognition. This new Vision, to change the fate of the crypto-currency that was struggling recently with the bear market? Let us find out.
The LTC/USD Pair is trying to find a bottom. After the initial Pullback from the low of 23,090 US $ (20,411 Euro), the bulls have managed to keep the support at 29,349 US Dollar (25,728 Euro) in the last five weeks. Thus, the probability that this level is a higher Low on the rise. This is confirmed when the price breaks out above the down trend line and the previous variation’s high of 40,784 US $ (35,752 Euro).
long-Term investors can expect in the crypto-currency, a new upward trend begins when the rate climbs to over 40,784 US $ (35,752 Euro). There is a small resistance at 47,246, US Dollar (41,417 Euro). In addition, the increase of up to 65,561 US may extend $ (57,472 Euro).
Our optimistic assessment is void if the bears can defend the overhead resistance of the downtrend line or the brand of 40,784 US $ (35,752 Euro). In this case, the Pair will stay still for a couple of weeks in the gap between 29,349 US Dollar (25,728 Euro) and 40,784 US $ (35,752 Euro), before this breaks out or this.
BNB/USD
Binance Coin (NBB) has made in the last few weeks, great leaps, and now ranks on place 12 of the largest Coins by market capitalization. Binance is the youngest stock exchange, the offering, except for over-the-counter (OTC) crypto-to-crypto trading Desk, in order to benefit from the growth of the OTC trade.
The company has restructured its Trust Wallet into a Multi-cryptocurrency Wallet, and re-named. There is now a larger number of block chains are supported, and also the many different functions have been improved. Binance Charity has announced a program called Lunch for Children, the purpose is to provide disadvantaged children in developing countries, such as Africa and other countries, lunch. The recovery in the case of BNB, or it is Stalled? Let’s look at the time.
BNB/USD Pair has reached the resistance line of the descending channel. The 20-week EMA is also located directly above the channel. Therefore, we expect a strong resistance in the Zone between 7,17 US Dollar (EUR 6.28) and 7.70 US dollars (6,75 Euro).
there was An outbreak and conclusion (UTC) over this range will signal the turn is probably a trend. The objective of the course is $ 12 (10 euros) and if this is exceeded, the Increase to US $ 15 (€13) extend. We will keep to the proposed purchase from the previous week’s analysis.
We are traders with positions, book partial profits at the resistance level and set the stops for the rest of the Position is higher. Finally, the mood on the crypto market overall is still negative, so it is better to book small profits, as long as it goes, instead of waiting for the large lot.
Our optimistic assessment is void if the course bends from the current level down. The downward trend continues, if the bears leave the Couple on 4,1723848 US Dollar (3,6576 Euro) to decrease.
DASH/USD
Dash has recently published its Build Version 0.13. 47 percent of the master nodes have already switched. The crypto-currency in Venezuela is already very popular and is accepted by over 2,600 retailers.
We expect that the recent political crisis in Venezuela, attracting more people to the Dash. It would currencies of the importance of Crypto in times of turmoil and crisis. Anypay and eGifter have entered into a partnership with the Coin, so that customers can convert their DASH in eGift cards, without having to go to Fiat to convert. Can catapult these fundamental factors, the course to the top? Let us find out.
The long-term Trend in DASH/USD Pair is still declining. The cops try to reach a higher Low at around 67 US dollars (59 Euro). Both moving averages tend, however, to the bottom. Also the RSI is almost in the oversold area. This shows that the sellers currently have the upper hand. If the bears make the crypto-currency under 56,214 US Dollar (49,278 Euro) to decrease, continuing the downward trend again.
strength indicates The Pair when it breaks out from the overhead resistance zone of between 103 US dollars (90 Euro) and 123 US-dollars (108 euros). When that happens, a rally in the direction of 175 US dollars (153 euros), and at 224 US dollars (196 Euro). A further possibility is that the bears defend the immediate resistance at 103,261 US Dollar (90,520 Euro), and this leads to a consolidation.
XMR/USD
Monero (XMR) has managed this week to record slight gains, although he was rather unpleasant in the news. One of the scientists from Spain and Britain, published study has shown that approximately 4.3 percent of the total supply of Monero were illegally gemint.
The crypto-exchange, the Gemini decided to use Dash instead of Monero, because their founders, the Winklevoss twins believe that the regulatory authorities to Dash to a benevolent that would be. If the course itself is not negative news, it is usually a positive sign. So it is a good time to buy? Let us find out.
The XMR/USD Pair has consolidated in the last eight weeks in a narrow range between 38,50 dollars (33,74€) and 60,147 US Dollar (52,726 Euro). A case under this margin will continue in a downward trend, and the Pair towards the next support at $ 28 (EUR 25) fall.
on the Other hand, a breakout above the range may catapult the crypto currency on the overhead resistance at 81 US dollars (71 euros). The down-trending 20-week EMA is just below this level. Therefore, we expect a strong resistance between 75 US dollars (66 euros) and 81 US-Dollar (71 Euro).
Since the course level is currently close to the low for the Year, we are proposing here is in no trade. We could suggest Long positions, if the Couple has about 81 US dollars (71 euros).
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.
