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The market data are taken from HitBTC exchange.
The fundamental conditions of the crypto space have improved over the past year. These developments are noticed by the institutional actors. Although they have not invested large amounts of money, you have started to make first steps in to the room.
The crypto-hedge Fund, Pantera Capital, the could muster in his two previous crypto-Fund only 13 million US-dollars (11.5 million euros) and 25 million dollars (22 million euros), has secured a capital in the amount of 130 million US dollars (114.6 million Euro) from the original target of 175 million US dollars (154.3 million Euro). Similarly, the Foundation of the University of Michigan is planning to increase its investment in a crypto-Fund that is managed by the American venture-capital company Andreessen Horowitz,.
Large traditional stock exchanges around the world have recognized the growing interest of institutional players in the crypto-space, and develop new services. While the introduction of Bakkt in the United States is expected to be the largest voltage, prepare the stock exchanges in Europe on the jump. Eurex, operated by Deutsche Börse’s derivatives exchange from Germany, is planning the introduction of Futures contracts for the three biggest Cryptocurrencies.
now, since the Foundation stone was laid for institutional investors, a good time to buy, in the long term, or is this just a short-term bounce before further decline?
BTC/USD
Bitcoin (BTC) in the last three days close to the psychologically important support at 4,000 US dollars (3,527 were possible Euro). Although the cops were unable to lift the courses, has not given in to the crypto-currency, which is positive.
The 20-day EMA is trending gradually upwards and the RSI is in the overbought Zone. This shows that the bulls have the short term upper hand. The 50-day SMA, however, remains unchanged, which suggests that the medium-term Trend has not yet changed.
The BTC/USD Pair is initiated in the vicinity of 4.255 US Dollar (3.752 Euro). If the bulls succeed on this level break, will completed a double bottom pattern with a target of 5.273,91, US Dollar (4.650 51 Euro). Therefore, we could expand our existing Long positions, if the price will rise above 4.255 US Dollar (3.752 Euro). The Stop Loss can be just under a total of 3,236,09 US Dollar (2.853,57 Euro).
will be If the digital currency is rising, contrary to our expectation, not 4.255 US Dollar (3.752 Euro), you still have some days in a range between a total of 3,236,09 US Dollar (2.853,57 Euro), and, 4.255 United States Dollar (3.752 Euro). Our optimistic assessment is void if the Pair falls to a new low for the year.
ETH/USD
Ethereum (ETH) has consolidated in the last three days, without a strong yield. This shows that buyers book their profits in haste, and every small decrease in purchase. The probability of a rise in increases to 167,32 US Dollar (147,54€) and higher. Therefore, traders can protect half of your Long Position with a tight Stop-Loss. If the virtual currency on 167,32 US Dollar (147,54 Euro) climbs, they can climb up on 182,99 US Dollar (161,36 Euro). Therefore, we will leave the remaining half of the Position a little leeway and the Stop Loss at 125 US dollars (110 Euro) left.
If the ETH/USD overcomes Some of the overhead resistance, a decline of at 134,50, US Dollar (118,60 EUR). The 20-day EMA is approaching this level, so we expect that it will act as a strong support. If the cops can’t keep the support, however, can extend the slip up to the 50-day SMA, and below, on up to 118 US $ (104 Euro).
XRP/USD
Ripple (XRP) in the last two days in the vicinity of the overhead resistance at 0,33108 US Dollar (0,2919€), but could not close above it (UTC).
below is the XRP/USD Some support at the moving averages. If the Pair bounces from the current level of back up and over 0,33108 US Dollar (0,2919€) breaks out, there should be a rally in the direction of US $ 0.40 (0.35 Euro). Therefore, we retain the buy recommendation from our preceding analysis.
If the cops do it, however, 0,33108 US Dollar (0,2919 Euro) break out and hold above it, the digital currency continue to be in the range between 0,27795 US Dollar (0,2451 Euro) and 0,33108 US Dollar (0,2919€). The Trend will be negative if the price falls below the support zone between 0,27795 US Dollar (0,2451 Euro) and 0,24508 US Dollar (0,2161 Euro).
EOS/USD
Although EOS about 3,8723 US Dollar (3,4143 Euro), in the vicinity of US $ 4 (3.53 Euro) sales. 21. February has formed a candlestick pattern. If the bulls manage to climb above $ 4.10 (EUR 3.62), it can extend the recovery up to 4,4930 US Dollar (3,9616 Euro). This level will likely act as strong resistance.
The 20-day EMA is trending up and the RSI is in the overbought area. This shows that the bulls have the short term upper hand. Traders can Loss in the half of their Long positions with a close-fitting Stop-Limit and Stop-Loss for the balance at the time of 2,90 US Dollar (EUR 2.56) in place.
it slides When the bears, the EOS/USD Pair, contrary to our expectation, under 3,8723 US Dollar (3,4143 Euro) decrease, and below, on 3,2081 US Dollar (2,8286 Euro). The 20-day EMA is also located on this level should act as strong support. This level should be broken, however, may fall the Couple on the 50-day SMA and below the critical support at 2,1733 US Dollar (1,9162 Euro).
LTC/USD
Litecoin (LTC) on 20. February of just over $ 52 USD (45,85 EUR) from downward bent, but found at the strong support at 47,2460 US Dollar (41,6576 Euro) buyer. If he 52,50 dollars (46,29 EUR) erupts, it can extend the recovery on 56,910 dollars (50,179 Euro) and about US $ 60 (52,91 euros). Therefore, traders can keep the Stop-Loss for half the Position at 40 US dollars (35,27 Euro). In the other half, a close-fitting can be set, in order to protect the paper profits if the have not already done so.
Although the moving averages upward bias, the RSI signs of negative divergence. In a case under 47,2460 US Dollar (41,6576 Euro) will he received at the 20-day EMA support. Including the slip may extend to the 50-day SMA. The Trend developed in favor of the bears, if the LTC/USD Pair falls below 40 US dollars (35,27 Euro).
BCH/USD
Bitcoin Cash (BCH) in the last three days in the vicinity of 141 US dollars (124 euros). There have been Attempts to push the price of this level in both directions, the failed all.
signals A breakout above 150,52 US Dollar (132,73 Euro) that the cops have the upper hand. The levels, which should keep the top of the eye, are located at 163 US dollars (144 Euro) and above at $ 175 (154 Euro). Therefore, we suggest that traders hold their Long positions and Stop-Loss at 116 US dollars (102 euros).
it is Our optimistic assessment is void, if the BCH/USD-falls Pair from the current levels and under the moving averages and 121 US $ (107 Euro) slips.
XLM/USD
Stellar (XLM) could not climb in the last three days over the 50-day SMA. He has not yielded to strong, indicating strength. There is a buying support near the 20-day EMA, which is flattened. The RSI is also close to the center. This indicates a balance between buyers and sellers.
A case under the 20-day EMA the. XLM/USD Pair back in the direction of the lows of slipping. On the other hand, a breakout above the 50-day SMA, it will catapult to 0,13427050 US Dollar (0,1184 Euro). As the digital currency has developed extremely weak, we will wait until a pattern has formed, which signals a trend reversal, before we recommend a trade.
TRX/USD
Tron (TRX) in the last three days in the vicinity of 0.025 US Dollar (0,022 euros). The cops wrestle with the downward trend line break out. The flat moving averages, and the RSI is about 50, and suggest that currently there is a balance between buyers and sellers.
If the TRX/USD Pair not overcome the downward trend line within the next few days, pushing the bear, it is likely again in the direction of the support 0,02306493 US Dollar (0,0203€). A case of this support can lead to a decrease in 0,02113440 US Dollar (0,0186€) and including 0,01830000 US Dollar (0,0161 Euro). Therefore, a Trader can through your Stop Loss Limits in their Long positions in 0,0230 US Dollar (0,0203€) left.
If the crypto-currency climbed above the downtrend line, it will try again, 0,02815521 US Dollar (0,0248 EUR) to escape. A breakout above this critical resistance will trigger a new upward trend, which can raise the rate on 0,03575668 US Dollar (0,0315 Euro) and on 0,0380 US Dollar (0,0335 Euro).
BNB/USD
As expected, Binance Coin (BNB) of just under $ 12 (10,58 euros) on the 20. February bent down. However, the cops bought the fall to 10 US $ (8.82 euros). This suggests that the digital currency for a few days between US $ 10 (8.82 euros) and 12 US-could consolidate Dollar (10,58 Euro).
Since both the moving averages upward bias as the RSI is near the overbought area, the probability of an outbreak over the span of a few days. A breakout above $ 12 (10,58 Euro) can make it to 15 US dollars (13,23 Euro) and about 18 US dollars (15,87 EUR) are on the rise.
When the bear decline to the 50-day SMA extend the BNB/USD Pair, contrary to our expectation, the margin and the 20-day EMA drop. A case under the 50-day SMA would be an advantage for the bears. Therefore, we prefer to wait until a purchase of constellation is, before we recommend a trade.
ADA/USD
The cops have not done it in the last three days, to let Cardano (ADA) on the resistance of the area to rise. This means that the margin between 0,036815 US Dollar (0,0325 Euro) and 0,051468 US Dollar (0,0454€) will keep for a few days. The flat moving averages, and the RSI that is a bit in the positive Zone, are pointing to a consolidation.
If the Pair within the margin remains, we could try to buy the support of the margin, if we see a strong jump back up to the top. If the bears leave the course, however, under the margin decline, a re-Test of the lows is likely.
A breakout of the range will trigger a new upward trend, with the minimum target at 0,066121 US Dollar (0,0583 Euro). If this level is overcome, it can reach the ADA/USD Pair 0,080 US Dollar (0,0705 Euro). Therefore, we retain the buy recommendation from our preceding analysis.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.
