The views and opinions listed here are solely those of the authors and do not necessarily reflect the views of Cointelegraph. Each Investment and Trading involves risk and you should be good to do research before making a decision.
The market data are taken from HitBTC exchange.
The US Bank giant JPMorgan Chase, whose CEO is one of the most vocal critics of the currencies in relation to Crypto, has announced the launch of its own crypto-currency by the name of “JPM Coin”. This clearly shows that a lot of people criticize the technology, as they understand them. But as soon as you recognize the potential in this, do you want to have in this area.
With the increasing maturity of the market between the crypto is different currencies. Tokens have to offer, nothing Concrete, will remain on the track, while investors will benefit from others with a practical application. Barry Silbert, the CEO and founder of Digital Currency Group and Grayscale Investments, believes that the majority of digital Token “will drop to Zero”.
Niall Ferguson, a British economic and financial historian, and author of 14 books, said that Bitcoin would likely be as a digital Gold, because of its development not any other asset class correlated. He could not imagine, however, that Fiat currencies, crypto-currencies could be completely replaced.
Well, there’s mostly positive news, it is a good time, a few of the largest crypto-currencies? Let us find out.
BTC/USD
The last week has yielded to Bitcoin (BTC). Although there was no sharp decline, suggests a lack of demand at the current level. Both moving averages have flattened and the RSI is in the neutral Zone, suggesting a probable consolidation.
Our assessment that there is a margin, is void, if the BTC/USD Pair breaks out above the downtrend line. Above the downward trend line with a recovery on 4.255 US Dollar (3.767 euros) is likely to be. We expect a strong resistance at this level. A breakout above 4.255 US Dollar (3.767 euros) completes a double bottom pattern in which the target is at 5.273,91, US Dollar (4.669,47 euros).
If the bears make the digital currency under the 20-day EMA to fall, to decline to 3.355 US Dollar (2,970 euros) and including a total of 3,236,09 US $ (2.865,20). A case under the year, is deep-set the downward trend to continue and can lead to a decrease to $ 3,000 (2.656 euros) and including at 2,600 US dollars (2.302 Euro).
We will wait for the price on both the moving averages as well as above the downward trend line, before we suggest a trade.
ETH/USD
Ethereum (ETH) at the 50-day SMA continues to be a resistance. He has become a major hurdle for the bulls that must be quickly crossed. Otherwise, we expect a decline to 116,30 US Dollar (102,97€) and if this level is breached, a re-Test of the level of 103,20 US $ (91,37€).
Both of the slide are flat and the RSI is just above the middle, suggesting a consolidation of averages. The ETH/USD Pair will win in case of an outbreak, and the conclusion (UTC) 134,50 US Dollar (119,08€) momentum.
is The next target for a breakout above 134,50 US Dollar (119,08€) in 167,32 US Dollar (148,14 Euro). In view of the large target potential, we recommend traders to set their stops at $ 100 (88,54 EUR). We could recommend to close the Position if the Pair falls and 116,30 US Dollar (102,97€).
XRP/USD
Ripple (XRP) has received in the last three days of the support in the vicinity of 0.295, US Dollar (0,261€), but the cops have trouble with this above the downward trend line break out.
A strong breakout above the downward trend line highlights the XRP/USD Pair on the next overhead resistance at 0,33108 US Dollar (0,2932 Euro). The 50-day SMA is also just below this level. Therefore, we assume that this level will be a big hurdle. If the bulls break this level, increases the likelihood of a rally in the direction of US $ 0.40 (0.35 Euro). Therefore, we are dealers Long positions is at a closing (UTC) could suggest about 0,33108 US Dollar (0,2932 Euro).
If the course bends, however, from the current level or from one of the Overhead resistors to the bottom, a re-Test of the level of 0,27795 US Dollar (0,2462 Euro). A case of this level leads to a decrease in its year-low of 0,24508 US Dollar (0,2170 Euro).
EOS/USD
EOS from trying, from just over 2.70 to the US Dollar (2,39 Euro), back to the top. The bulls will try again, from the overhead resistance zone of between to 3.05 US $ (2,70 Euro) to 3,2081 US Dollar (2,8412 Euro) break out. If this is successful, a rally in the direction of 3,8723 US Dollar (3,4294 Euro). The 20-day EMA is trending up and the RSI is also positive, which shows that the path of least resistance leads to the top. Therefore, a Trader can through your Stop Loss Limits in their Long positions at 2.30 US-Dollar (€2.04) leave.
If the price struggles, from the resistance zone, break out part of the gains are in the vicinity of US $ 3.20 (EUR 2.83) posted, and the Rest can be held with a Stop at the breakeven.
If the EOS/USD Pair bends, however, from the current levels to the bottom, it can get support at the moving averages. Otherwise, may extend the decline to the critical support at 2,1733 US Dollar (1,9247 Euro). A case of this support can lead to a decrease on the year’s low of 1.55 US Dollar (EUR 1.37).
LTC/USD
Litecoin (LTC) has received close to US $ 40 (35,42 Euro) support. The bulls are currently trying the upward trend to continue, and the overhead resistance at 47,2460 US Dollar (41,8421 Euro) break out. If that succeeds, the next goal that you should keep the above in mind when 56,910 dollars (50,401 Euro).
could snap off If the LTC/USD is not able to Couple to erupt, however, over 47,2460 US Dollar (41,8421 Euro), it is down and the support at the 20-day EMA test. Therefore, traders can book profits near $ 47 (41,61 euros), if you find that the has Some difficulties in order to climb to the top.
A case under the 20-day EMA is less dynamic and the digital currency to the 50-day SMA to fall. The Trend develops into the Negative, if the bears make it under 27,701 US Dollar (24,533 Euro). Traders who hold Long positions, your Stop Loss Limits to 36 US dollars (31,87€) increase. The stops can be placed in the course of the increase in the direction of 47,2460 US Dollar (41,8421 Euro) even higher.
BCH/USD
The margin on the Bitcoin to Cash (BCH) has shrunk and is waiting for a decisive step on the part of the bulls or the bears. The volatility is likely to increase soon, but it is difficult, the direction of this movement predict.
If the close margin dissolves up are the bulls at the 50-day SMA and is about 141 US dollars (124,84 Euro) encounter resistance. If the price can hold above 141 US dollars (124,84 Euro), that would be a positive Signal. Therefore, we recommend Long positions at a closing (UTC) about 141 US dollars (124,84 Euro). The goals that you should keep the top of the eye, are located at 175 US dollars (155 Euro) and about 220 US dollars (195 euros).
If the BCH/USD Pair, however, is the next support at 105 US dollars (93 euros). Below this level may accelerate the decline and the Low at 73,50 US Dollar (65,08 euros) re-test.
TRX/USD
TRON (TRX) has fallen below the 50-day SMA and in the last two days. The moving averages are on the verge of a bearish crossover, indicating short-term weakness. Therefore, traders can put a Stop Loss at 0.023 per US Dollar (0,0204 Euro), in order to protect their Long positions.
A case 0,023 US Dollar (0,0204 Euro) can lead to a decline towards the next support at 0,02113440 US Dollar (0,0187€). If this level is also broken, is the last support in 0,0183 US Dollar (0,0162 euros). Below this level, a decrease on the year is deep probably.
will try If the TRX/USD Pair will receive support at the current level, and the two sliding climb averages, it is again above the critical resistance at 0,02815521 US Dollar (0,0249 Euro) break out. If that succeeds, start the Couple is likely to be a new upward trend, you can leave it on to 0.038 US dollars (0,0337 Euro) and $ 0.04 (0,0354 Euro).
XLM/USD
It is the first buy signals for Stellar (XLM) in the vicinity of the lows. Currently, the bulls are trying to overcome the 20-day EMA. If that succeeds, is to rise to the downtrend line and the 50-day SMA. The fact that the RSI is showing strength and is on a Pullback suggests. Since the course is still in the vicinity of the lows, we avoid it, here’s a trade to propose.
If the XLM/USD Pair from one of the Overhead bends resistors to the bottom, will try to the bears again, Deep in 0,07256747 US Dollar (0,0643 Euro) down. This is broken Deep down actually, is the next support at 0,05795397 US Dollar (0,0513 Euro). Therefore, we prefer to wait until a new purchase of constellation is, before we recommend a trade.
BNB/USD
Binance Coin (BNB), corrected for three days and finally found a buyer in the vicinity of the 20-day EMA. He is currently trying to continue the upward movement to continue and out of the overhead resistance at US $ 10 (8,85 euros) to escape. If that succeeds, a rise of 12 US-Dollar (10,62 Euro). The margin between US $ 10 (8,85 euros) and $ 12 (10,62 Euro) is a big hurdle, so that the crypto-currency could still be some time before this will remain. This hurdle is overcome, is a recovery to US $ 15 (13,28 Euro) and about 18 US dollars (15,94 Euro).
If the bears defend the overhead resistance, contrary to our expectation and the BNB/USD Pair and force us to decline, will serve the 20-day EMA again as a support. Below the next support at the 50-day SMA is located. If this level is broken down, the last support of the uptrend line. If these supports don’t stop the decline, if the Trend changes and it will be formed a margin.
BSV/USD
After Bitcoin SV could not break out above the 20-day EMA, he bent down and fell under 65,031 US Dollar (57,5929 Euro). The next support lies in the Zone between 58,072 US Dollar (51,4299 euros) to 57 US dollars (50,47 Euro). Also, this support does not hold, a decline to the low for the year of 38,528 US Dollar (34,1213 Euro).
will try If the BSV/USD Pair is reversed, however, by one of the above-mentioned support levels, it again, from the 20-day EMA break. The cops have not been able to overcome the 20-day EMA in the last one and a half months. An outbreak would therefore be a Signal that the downward trend to the end.
We’ll wait until the price breaks out above 71,412 US Dollar (63,2441 euros) and the 50-day SMA, before we look at it as a positive. Until then, we suggest that traders wait and watch.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.
