Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 9

While some prominent investors are still on the fence about crypto, others see the current market as an opportunity to double down on it.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Some of the most prominent investors continue to back cryptocurrency and the blockchain technology. Hong Kong billionaire Li Ka-shing has invested in the latest funding round of Intercontinental Exchange’s (ICE) crypto trading platform Bakkt through his venture capital firm Horizon Ventures.

Similarly, Wall Street investor Bill Miller, who had invested in Bitcoin previously, expects the leading cryptocurrency to be worth either a lot more or zero.

According to Miller, he likes to keep cryptocurrencies in his portfolio because their performance is decoupled from the traditional asset classes. Though an active investor, he considers himself a “Bitcoin observer,” but not a “believer” yet.

On the other hand, the Winklevoss brothers are big believers in cryptocurrencies. They expect the market capitalization of Bitcoin to cross that of gold in the future. Because of that, they continue to support the idea of a Bitcoin exchange-traded fund (ETF).

The recent Ethereum Classic (ETC) 51 percent attack has many worried whether the same can be happen to Bitcoin (BTC) in the future. The opinions are divided, but such challenges are to be expected in a new asset class. This will only encourage the participants to find solutions to avoid such attacks in the future.

BTC/USD

Bitcoin has been trading near the neckline for the past two days. The bulls have been unable to complete the inverse head and shoulders pattern, but they have not given up much ground either. This is a positive sign.

BTC/USD

Both moving averages are flattening out, which suggests a change in trend. If the BTC/USD pair climbs above $4,255, it will signal the formation of a short-term bottom. Hence, we have recommended a buy in one of our earlier analyses. The pattern target on a break out of the inverse head and shoulders pattern is $5,500.

If the bears sink the digital currency below the right shoulder, the sentiment will turn bearish and can result in a retest of the low of $3,236.09. If this support breaks, the downtrend will resume.

ETH/USD

The bears have been defending the $167.32 mark for the past seven days. If Ethereum breaks down of the uptrend line and the 20-day EMA, it can dip to the 50-day SMA at $120.

ETH/USD

On the other hand, if the bulls break out of $167.32, the ETH/USD pair can rally to the next level of $225 and above it to $249.93. Hence, traders can buy on a close above $167.32 and keep a stop loss of $130.

The 20-day EMA is trending up and 50-day SMA is flat, which shows that the downtrend is over. Therefore, traders should look to buy on dips, as long as the price remains above the 50-day SMA. A break of this moving average can result in a drop to $100 and below that to $83.

XRP/USD

Ripple has been trading in a tight range for the past few days. Both moving averages are flat and the RSI is close to the neutral zone, which suggests a balance between demand and supply.

XRP/USD

The balance will shift in favor of the bulls when the XRP/USD pair rises above $0.4. Though the pattern target is $0.52205, the resistance line of the descending channel can act as a roadblock.

The digital currency will turn negative if it breaks below the support at $0.32615. Traders can initiate long positions on a close (UTC time frame) above $0.4 with a stop loss at $0.32.

BCH/USD

After a strong run from the lows, Bitcoin Cash has been consolidating in a tight range for the past few days. Both moving averages have flattened out, which shows a balance between the buyers and sellers.

BCH/USD

A break out of the range can resume the recovery and propel the BCH/USD pair to the next target of $307.01, with a minor resistance at $239.

Therefore, we suggest traders wait for a breakout and close (UTC time frame) above $181 to enter long positions. The stop loss can be kept at $138. A break below $141 will be a negative development that can result in a drop to $100 and below that to $73.5.

EOS/USD

EOS has been stuck in a range for the past few days. Both moving averages are flat, and the RSI is just above the neutral territory. This suggests that the consolidation might extend for a few more days.

EOS/USD

The longer the consolidation, the stronger will be the breakout or breakdown from it. Therefore, we recommend long positions on a breakout and close (UTC time frame) above $3.2081. The targets to watch on the upside are $3.8723, $4.1069 and $4.493.

If, however, the EOS/USD pair plunges below the range, it can decline to the low of $1.55. Therefore, the stop loss on the proposed long positions can be kept at $2.29.

LTC/USD

Litecoin has stayed above the neckline for the past three days but hasn’t been able to move higher. This shows a lack of buying at higher levels.

However, if the bears fail to break below the neckline and the 20-day EMA within the next couple of days, buyers will likely step in. The targets to watch on the upside are $47.246 and $56.910. The stop loss can be kept at $27.5, which can be trailed higher as the price moves up.

LTC/USD

We are bullish because the LTC/USD pair has formed a reversal pattern and the moving averages have completed a bullish crossover. All these point to a probable bottom at $23.1.

Our view will be negated if the cryptocurrency slips below the moving averages and the $27.701 mark. The downtrend will resume on a fall below $23.1.

XLM/USD

Stellar has not shown a meaningful recovery in the recent pullback. It continues to face resistance at $0.13427050. The pair is currently trading inside a symmetrical triangle.

XLM/USD

The resistance line of the triangle, the 50-day SMA and the horizontal resistance at $0.13427050 are all located close to each other. Therefore, once the XLM/USD pair rises above this cluster of resistances, it can move up to $0.184, which might act as a stiff resistance.

On the other hand, a break below the triangle can result in a retest of the lows. A break below $0.09285498 can resume the downtrend. We might propose a trade after the break out of the resistance sustains for a day. Until then, we suggest traders remain on the sidelines.

TRX/USD

Tron has continued its strong run and has reached the critical resistance of $0.02815521. This is a major hurdle as the bulls could not scale it in the past five months. Therefore, the traders who went long at lower levels based on our suggestion, can book 50 percent of profits at the current levels, if they have not done so already. The stops on the remaining position can be trailed higher.

TRX/USD

If the virtual currency breaks out and closes (UTC time frame) above $0.02815521, a new uptrend is probable. Following the breakout, the next level to watch on the upside is $0.03801042. Therefore, we are not advising to close the entire position.

If the TRX/USD pair turns down from the current levels, it is likely to remain range bound for a few more days.

BSV/USD

The range in Bitcoin SV has shrunk in the past few days. A period of low volatility is usually followed by an increase in volatility.

BSV/USD

If the bulls break out of the immediate resistance of $102.58, a rally to $123.98 is possible. Upon scaling this hurdle, the BSV/USD pair can rally to the pattern target of $167.608.

Conversely, if the bears sink the price below $80.352, the cryptocurrency can decline to $65.031 and below that to $38.528. Due to the uncertainty and a lack of clear direction, we are not proposing any trades in it.

ADA/USD

Cardano has completed a retest of the neckline in the past two days and is attempting to resume the uptrend. The 20-day EMA is gradually rising, and the 50-day SMA has flattened out. This shows that the selling has subsided and a trend change is likely.

ADA/USD

The critical level to watch on the upside is $0.060105. If this resistance is crossed, the ADA/USD pair can reach the pattern target of $0.066.

Our bullish view will be invalidated if the coin breaks down of both moving averages, as well as the $0.036 mark. Therefore, traders who bought on our recommendation can keep an initial stop loss at $0.036, and raise it later if the bulls struggle to scale $0.060105.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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Bitcoin, Ripple, Ethereum, Stellar, EOS, Litecoin, Cardano, Monero, TRON, Dash: Price Analysis, Nov. 21

The world did not come to an end after the financial crisis of 2007–2008. Similarly, this bear market will also pass and the stronger cryptocurrencies will rise and reward investors.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Bottoms are formed during market capitulations. After Bitcoin broke below the critical support of $5,900, investors dumped their holdings, fearing a complete loss on investment. For someone who does not believe in the future of cryptocurrencies and who was in it only for making a quick buck, it might be the right thing to do.

However, for the others, who believe in the story of blockchain and cryptocurrencies, the current fall offers a great opportunity to invest for the long term. During bottom formations, the outlook is always very dire and every bit of news is viewed as negative.

One such news was the U.S. Justice Department investigating the probability of Bitcoin manipulation in 2017 using stablecoin Tether. Though we believe that any regulatory step to protect retail investors is a long-term positive, the markets did not view it in the same way.

After the fall, while naysayers are claiming victory and forecasting a further fall, the bulls see an opportunity to buy for the long term. It is difficult to predict a bottom when markets are gripped in fear. Hence, we believe it is better to wait for the markets to show signs of stabilization before attempting a buy.

The software companies did not vanish after the dotcom bubble. The world did not come to an end after the financial crisis of 2007–2008. In the same way, this bear market will also pass and the stronger cryptocurrencies will rise and reward investors. Therefore, be patient and let the markets offer us a relatively low-risk buying opportunity.

BTC/USD

Bitcoin nosedived to a low of $4,368.69 on Nov.20. The fall of the past two days gives the impression of panic selling by investors. Usually bottoms are formed after such a round of liquidation.  

BTC/USD

Both moving averages have turned down, which is a negative sign. The RSI has hit deeply oversold levels, which suggests that selling has been overdone and a pullback is likely.

The bulls might attempt to carry the BTC/USD pair to the downtrend line, which can prove to be a roadblock. If the downtrend line is crossed, we expect the bears to offer strong resistance in the zone of $5,450–$5,700.

The next leg down will give us a better insight about the bottom. If the bears slice through $4,368.69, the fall can extend to $4,000 and below it to the major support zone of $3,500–$3,000.

On the other hand, if the bulls successfully defend $4,368.69, the probability of it being the bottom increases. It is difficult to pinpoint the bottom right away. We can confirm a bottom only in hindsight.

XRP/USD

Ripple has emerged as one of the outperformers during the recent fall. It has stretched its lead over Ethereum after becoming the second most valuable cryptocurrency in terms of market capitalization.

XRP/USD

The XRP/USD pair is currently finding support between the trendline and $0.40. Both the moving averages remain flat, which points to range bound action in the near term. On the upside, $0.519 and $0.565 will act as resistances.

On the downside, if the bears sink prices below $0.40, a fall to $0.37185 and below that to $0.26913 is probable. Though we are relatively bullish on the digital currency, we shall wait for a new buy setup to form before proposing any trade.

ETH/USD

Ethereum extended its fall on Nov. 20 and broke below the support of $136. The RSI has reached deeply oversold levels, which previously resulted in a pullback.

ETH/USD

Currently, the bulls are attempting to pullback from the $126.20 level, which is likely to face a stiff resistance at $167.32. The downtrending 20-day EMA will also be a difficult hurdle to cross.

If the next leg down breaks below $126.20, the ETH/USD pair can extend its decline to $110. As the trend is down, we shall wait for a new reliable setup to form before recommending a trade.

XLM/USD

Stellar broke down of the ascending channel on Nov. 19 and followed it up with another sharp fall the next day. However, the bulls have managed to hold the critical support at $0.184.

XLM/USD

The current pullback attempt is likely to face a stiff resistance at the support line of the channel and above it at the downtrend line.

If the bears sink the XLM/USD pair below the critical support at $0.184, it can slide to the next support at $0.13 and below that to $0.09.

EOS/USD

EOS broke below the critical support of $3.8723 and dived to a low of $3.4703 on Nov. 20. In doing so, the RSI dipped into deeply oversold territory that indicates that the selling has been overdone and a pullback is probable. Currently, the bulls are attempting to climb back above the overhead resistance at $3.8723. If successful, the pullback can extend to $4.493, which might again act as a stiff resistance.

EOS/USD

If the pullback stalls at $4.1778, the bears will again attempt to sink the EOS/USD pair below the support at $3.8723. If successful, the decline can extend to the next support at $3. The falling 20-day EMA and the RSI in the oversold territory show that the bears have the upper hand.

LTC/USD

Litecoin dipped to an intraday low of $31.78 on Nov. 20, which was just below our suggested support of $32. The pattern target of a breakdown from the descending triangle is $29.653. We believe the zone between $32–$29.653 will act as a strong support.

LTC/USD

However, as the trend is down, any attempt to pullback will face a stiff resistance at the 20-day EMA that is sloping down. Above this, the next major resistance will be in the $47.246–$49.466 zone.

We believe that after such a sharp fall, the LTC/USD pair might attempt to form a bottom around current levels. However, the traders should wait for a confirmed bottom and a new buy setup to form before attempting to buy.

ADA/USD

Cardano fell in the past two days and overshot our suggested support of $0.043722 and made an intraday low of $0.041572. The RSI has declined deep into the oversold territory, which suggests a pullback is around the corner.

ADA/USD

The pullback can carry the ADA/USD pair to the overhead resistance at $0.060105. However, the trend is down, hence, any attempt to recover will face a hurdle at the previous support of $0.060105 and at the 20-day EMA, which is sloping down.

If the next leg down breaks below the support at $0.041572, the fall can stretch to the next lower support of $0.025954.

XMR/USD

Monero is trying to find support close to the $64.525 level. The RSI has entered deeply oversold levels, which shows that selling has been incessant. We believe that the bulls will attempt a pullback from the current levels that can carry the digital currency to the overhead resistance at $81.

XMR/USD

The bears are likely to attempt to turn down the XMR/USD pair from $81. If the next down leg breaks $64.525, the fall can extend to $60 and below that to $46 levels.

Our bearish view will be invalidated if the bulls scale $81 and sustain above it. Currently, there are no bullish patterns that suggest a buy, hence, it is best to remain on the sidelines.

TRX/USD

In the past two days, TRON broke below the two critical supports of $0.0183 and $0.01587681. With the RSI dropping close to 15 on Nov. 20, it shows that the selling has been overdone and a relief rally is likely.

TRX/USD

In a down trending market, every previous support acts as a resistance after it is broken down. Hence, we anticipate a stiff resistance at $0.01587681 and $0.0183. If the TRX/USD pair turns down from one of these levels, the bears will attempt to sink the price to the next support at $0.00844479.

On the other hand, if the bulls scale $0.0183 within the next few days, it will confirm that the current fall was a fake breakdown. We shall wait for the trend reversal to happen before suggesting any trade in it.

DASH/USD

Dash is currently trading inside a descending channel. It broke below the critical support of $129.58 on Nov. 19 and made a new 52-week low at $98.01 on the next day. It is presently finding support at the bottom of the channel. The bulls might attempt to push prices back above the $129.58 resistance. If successful, the pullback can extend to the upper end of the channel, close to $160.  

DASH/USD

However, as the DASH/USD pair is in a downtrend, we anticipate a strong resistance at $129.58 and at the 20-day EMA. During the next down move, if the support at $98.01 breaks, the next support is at $75. Traders should wait for the trend to reverse and a bottom to form before initiating any long positions in it.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Top 5 Crypto Performers Overview: TRON, Bitcoin, Litecoin, EOS, Cardano

Weekly price review of the best performing cryptocurrencies

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

On October 11, the total market capitalization of the cryptocurrencies plunged below $200 billion for the first time since September 20, as a global risk-off trade led investors to dump their holdings. However, the encouraging sign is that the sell-off was short-lived and most currencies are trying to claw back.

The next week is critical because it will provide insight on whether the currencies will break down of their key supports or rise above their overhead resistances. A breakdown to new lows will be negative and might signal the extension of the ongoing bear market. On the other hand, if the bulls succeed in scaling the key levels, it will signal a likely bottom and might attract buying.

Let’s take a look at the top 5 performers of the week and their medium-term outlook.

TRX/USD

Among the digital currencies that have a market capitalization of more than $1 billion, TRON is the only one that has managed to stay in the green in the past seven days. Two news stories attracted buyers in a range bound/falling market.

The first news that pushed prices higher was the tweet from Justin Sun, CEO of TRON on October 08. He said that the latest upgrade would make the digital currency “200x faster than Ethereum and cost 100x cheaper than EOS.”

The second news that led to higher prices was the tweet on October 12 that hinted at a partnership with an industry giant.

So, can this fundamental news propel prices higher and should the investors buy now? Let’s study the charts and find out.

TRX

The TRX/USD pair topped out at $0.35013935 on January 05. At the current levels, the price is down about 93 percent from the highs. Since August 14, it has stopped falling and is trying to form a range. Such a consolidation shows that the owners of the digital currency are in no hurry to sell their holdings. Additionally, the investors are buying on dips, close to $0.0183.

The range has seen two touches at the top and two at the bottom. If the bulls break out and sustain above the range, it will indicate the probable start of a new uptrend. The first pattern target is $0.03801042. However, when the breakout happens after a large consolidation, it easily overshoots the minimum pattern target. Therefore, in the medium-term, investors can expect a move to $0.0415 followed by a rally to $0.052.

If the bears sink prices below $0.01587681, the downtrend will resume. Therefore, we suggest traders wait for a confirmed breakout and only then initiate a long position.

BTC/USD

The sell-off in the global stock markets caught up with Bitcoin. The warning by International Monetary Fund (IMF) that the “rapid growth” of the new asset class could create “new vulnerabilities in the international financial system,” did not help matters either.

Global economist Nouriel Roubini continued his anti-crypto rhetoric. He called cryptocurrencies “the mother or father of all scams and bubbles,” and the blockchain technology as “nothing better than a glorified spreadsheet or database.”

Another study from Juniper Research warned of an implosion in the crypto markets. Still, the BTC/USD pair ended as the second-best performer among the mega cap digital currencies. So, does this signal buying at the lows?

BTC

On a medium-term timeframe, Bitcoin has formed a large descending triangle pattern. It has formed successive lower highs but has largely held the $6,000 levels in 2018. Each lower high shows that the sellers are in a hurry to short or liquidate their positions and are not waiting for higher levels. The bulls have been buying only on dips close to $6,000, which has resulted in the support being held.

If the bears break the $5,900 levels, it is likely to attract further short selling and long liquidation, pushing prices to $5,450 and $5,000 levels. The first sign of a change in trend will be a close above the downtrend line of the triangle.

Investors should wait for a breakout above the most recent low of $6,831.99 to sustain for about three days before turning bullish.

LTC/USD

Winklevoss twins led cryptocurrency exchange Gemini, has received the required regulatory approval to add Litecoin trading and custody since October 12.

LTC

The LTC/USD pair has been in a steady downtrend. Previous attempts to stabilize and start a new uptrend have failed at higher levels. For the past two months, the digital currency has been consolidating in a tight range near the lows. A breakdown of the range will resume the downtrend.

If the bulls succeed in breaking out of the range, a rally to $94 levels is possible. A new uptrend will be confirmed only after the virtual currency successfully defends the breakout of the range and makes a series of higher highs and higher lows. Until then, it is best to remain on the sidelines.

EOS/USD

The EOS community is trying to bridge the gap between the West and the East. Language barriers, cultural differences and use of different platforms for conversing with each other were causing issues to the Chinese users. The EOS Mandarin Arbitration Community (EMAC), created to help the Mandarin-speaking users, is believed to be able to bring the two continents together.

EOS

In the medium-term time frame, the EOS/USD pair has largely been range bound between $18.67-$3.8723. Both the top and the bottom of the range have been tested twice. Though the bulls broke out of the range in end-April, they could not sustain the highs and prices crashed back into the range.

On the downside, the bulls have been defending the bottom of the range but have failed to rally higher. The digital currency has been trading close to the bottom of the range for the past two months. A breakdown can start a new downtrend that can result in a sharp fall.

On the upside, a breakout of $6.8299 will signal the start of a new upswing. The first target is $9.1668. If the bulls scale $10 levels, a rally to $15 is possible.

ADA/USD

Charles Hoskinson, founder of Input Output Hong Kong (IOHK), and Ken Kodama, CEO of Emurgo have demanded the resignation of Michael Parsons, chairman of the Cardano Foundation. They have cited lack of performance and the non-responsive attitude of the council and the chairman as a “great frustration.” The Foundation is yet to respond.

The possibility of Coinbase listing the coin is doing the rounds. If successful, it might give a boost to Cardano’s price. So, is it worth buying? Let’s find out.

ADA

The ADA/USD pair has been in a long-term downtrend. It has fallen about 94 percent from the highs of $1.396281, reached on January 05. Various attempts to start a new uptrend have failed as higher levels attract selling.

For the past one month, the digital currency is trying to form a range close to the bottom. If the bears break down of $0.060105, it will resume its downtrend.

On the upside, the bulls will have to scale $0.094256 and $0.111843 to signal strength. A sequence of higher highs and higher lows will herald the start of a new uptrend. If the bulls breakout and close (UTC time frame) above $0.111843 for three days in a row, a move to $0.2-$0.23 is probable. Medium-term traders should wait for a new uptrend to start before initiating any long positions.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 10

After a period of calm, the crypto markets have been hit with a number of adverse headlines – what effect should we expect on the prices?

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

After a period of relatively calm trading activity, this week has seen a number of adverse news for the crypto markets. The International Monetary Fund (IMF) is wary of the growth in digital currencies’ prices and popularity. In its latest World Economic Outlook report, it has warned that rapid expansion of a new asset class can create “new vulnerabilities in the international financial system.”

A group of researchers from Princeton University and Florida International University have warned that China possesses sufficient Bitcoin hashpower to threaten the integrity of the cryptocurrency.

Separately, U.K.-based Juniper researcher Windsor Holden has claimed that crypto markets are about to “implode.” In his forecast, Windsor has cited various factors, such as low transaction volumes and a failure of crypto to rally during the Brexit troubles.

Robert Sluymer, technical strategist at Fundstrat Global Advisors, has asked investors to wait for the trend to change before committing any money to Bitcoin.

Let’s see what our charts forecast.

BTC/USD

Bitcoin is still in no man’s land. Both moving averages are flat and the RSI is also at the midpoint. The attempt to break out of the downtrend line on Oct. 8 was thwarted by the bears.

BTC/USD

Today, the BTC/USD pair has shown some weakness, but buying at lower levels has again propped the prices back to the moving averages.

The cryptocurrency will pick up momentum on a breakout and close (UTC time frame) above the overhead resistance of $6,831.99. After a period of low volatility, we expect the volatility to increase following a breakout or breakdown. Hence, if the bulls succeed in breaking out, the rally might go beyond the first target of $7,400 and reach as high as $8,450.

On the downside, Bitcoin will plunge if the bears succeed in breaking below the critical support zone of $5,900–$6,075.04. Therefore, traders should keep the stops on their long positions at $5,900.

ETH/USD

Ethereum continues to trade close to the midpoint of the $200–$250 range. There haven’t been any noticeable attempts either by the bulls or the bears to break out of the range.

ETH/USD

The longer the ETH/USD pair remains in the range, the stronger will be the eventual breakout. It is difficult to predict the direction of the next move. Therefore, traders should wait for the price to break out and close (UTC time frame) above $250 before attempting to enter any long positions. On the downside, the pair will retest the lows if the bears break down of $200.

XRP/USD

Ripple is unable to climb above the 20-day EMA, which is a negative sign. It has a minor support at 61.8 percent Fibonacci retracement levels of $0.45832, below which, it can fall to $0.4 and lower.

XRP/USD

The short-term moving average has turned flat and the RSI has dipped below 50 levels, showing that there is selling pressure in the near-term. Unless the bulls quickly push the price above the 20-day EMA, a fall to the 50-day SMA is imminent.

The XRP/USD pair will show signs of strength above $0.55 and the uptrend might resume if it sustains above $0.625. Traders should protect their positions with the stops at $0.42.

BCH/USD

Bitcoin Cash has again dropped back to the moving averages, after falling to sustain the bounce on Oct. 9.

BCH/USD

If the bears push the price below the moving averages, a retest of the lows at $408.0182 is likely. The BCH/USD pair will become negative if it breaks down of the Sept. 11 lows. Traders should keep a stop loss of $400 on their long positions. On the upside, the bulls will gain strength above $600.

EOS/USD

EOS attempted to break out of the symmetrical triangle on Oct. 8, but has not seen any follow-up buying in the past two days. If the bulls close (UTC time frame) the price above the triangle, the pattern target is $9 with minor resistances at $6.3 and $6.83. Traders can maintain their stops on the long positions at $4.9.

EOS/USD

If the EOS/USD pair turns down from the current levels and breaks below the moving averages, it will indicate selling at higher levels. A break below $5.5 can result in a drop to $4.493.

XLM/USD

The bulls haven’t been able to push Stellar above the overhead resistance of $0.24987525. We now expect the bears to try and break below the 20-day EMA, which has been acting as a support for the past seven days.

XLM/USD

Below $0.235, the XLM/USD pair can slide to the 50-day SMA and below that to $0.21489857. Any break of this support will sink the virtual currency to the critical lows of $0.184. Therefore, traders should protect their positions with the stops at $0.21.

On the upside, the pair will gain strength if the bulls scale and sustain above the downtrend line of the descending triangle.

LTC/USD

Litecoin has been trading close to $58 for the past six days. The moving averages are flat and the RSI is just below the midpoint.

LTC/USD

The LTC/USD pair has been consolidating in a large range of $49.466–$69.279 since Aug. 8. A break out of the overhead resistance is likely to start a new uptrend that can quickly carry prices to the $90–$94 resistance zone.

If the digital currency breaks below the range, it will resume its downtrend and can plunge to new year-to-date lows. Therefore, traders should wait for the break out of the range before initiating any long positions in it.

ADA/USD

Cardano could not rise to the overhead resistance of $0.094256, after breaking out of the 50-day SMA on Oct. 8. Currently, the prices have again turned back to the moving averages. This shows a lack of buying at higher levels.

ADA/USD

The ADA/USD pair remains inside the range of $0.073531–$0.094256. A break out of the overhead resistance can result in a move to $0.11843, and a break down of the range can retest the lows. Traders should wait for a new buy setup to form before initiating any long positions.

XMR/USD

The bears are attempting to break down of the 50-day SMA and push Monero to the support at $107.8. Both moving averages are flat and the RSI is marginally in the negative zone, indicating a likely continuation of the range bound action for a few more days.

XMR/USD

A break down of $107.8 can result in a drop to $103, and further tp $96. Therefore, traders can raise the stops on the long positions to $106 – let’s reduce the risk. The XMR/USD pair can rally to $142 if the bulls sustain above the overhead resistance of $128.65.

TRX/USD

TRON failed to close (UTC time frame) above the overhead resistance at $0.02815521 on Oct. 8, attracting profit booking. Currently, the price has retreated from the top of the range and is likely to find support at the 20-day EMA.

TRX/USD

The TRX/USD pair will remain in a consolidation as long as it trades inside the $0.0183–$0.02815521 range. A break out of the range has a pattern target of $0.038 in the short-term. Support is at the moving averages and below that at the bottom of the range. The pair will resume its downtrend if the bears break and sustain below the range.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, October 5

The volatility in Bitcoin that once was an attractive characteristic for speculators seems to have declined, but has Bitcoin bottomed, or can it fall further?

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

2017 was about large range days and superlative returns in cryptocurrencies. 2018 is about a crushing bear market and a sharp drop in volatility. Bitcoin’s volatility is at year-to-date lows and most altcoins have followed suit. While flat markets are despised by speculative traders, it is a good time to make an investment for the long term.

A small range trading period with low volatility will be followed by range expansion and increased volatility. However, we believe that the rise from current levels will face a number of hurdles on the way up. A large number of retail investors stuck at higher prices will bail out when the price of Bitcoin starts a new uptrend. Mike Novogratz, CEO of crypto investment firm Galaxy Digital Capital Management, does not see Bitcoin scaling above $9,000 in 2018.

So, has Bitcoin bottomed or can it fall further?

Fundstrat managing partner and head of research Tom Lee asked this question to institutions and Twitter users. The results of the poll were interesting. A majority of 25 Wall Street institutions believed that the Bitcoin price had “already bottomed”, whereas the majority of 9,500 Twitter poll respondents think that it is likely to fall further.

57 percent of institutions have a minimum target of $15,000 on Bitcoin by the end of 2019, which is about 127 percent higher than the current price of the leading digital currency.

BTC/USD

The bears did not take advantage of the breakdown below the trendline and Bitcoin has bounced back above the 20-day EMA. The important level to watch on the upside is the downtrend line of the descending triangle and $6,832. If the bulls scale above these two levels, it will invalidate the bearish pattern, which is a bullish sign.

BTC

The first level to watch on the upside is the intraday high of Sept. 4 at $7,413.46. If this level is crossed, the BTC/USD pair could rally to the next level of $8,500. The bears might launch a strong defense of this level.

On the downside, a break below the $6,341–$6,435 support zone can sink the digital currency to the critical zone of $6,075.04–$5,900. A break of this level will trigger a number of stop losses that can result in a sharp fall. Therefore, traders holding long positions should keep a stop loss of $5,900.

ETH/USD

Ethereum is at the center of the $200–$250 range. For the past few days, the intraday range has shrunk, suggesting a lack of buying and selling interest.

ETH

The first sign of bullishness will be a breakout and close (UTC time frame) above $250. Such a move will attract buyers and can carry the ETH/USD pair to the next level of $322.57.

On the downside, a break of the $200 level could plunge the virtual currency to the Sept. 12 low of $167.32, below which the downtrend will resume.

We do not find any reliable buy setups at the current level; hence, we are not recommending a trade on it.

XRP/USD

For the past two days, Ripple has been trading between $0.50–$0.55. A breakout from $0.55 could carry it to the overhead resistance of $0.625. A breakout from this level will resume the uptrend.

XRP

A break below $0.50 will test the support of the 20-day EMA. Any break of this support will retest the bottom of the range at $0.425. A break from this level is likely to result in a fall to $0.37512.

As the price is still above the moving averages — which are trending up — we suggest holding long positions on the XRP/USD pair with a stop loss of $0.42.

BCH/USD

Bitcoin Cash has been holding above the 20-day EMA for the past two days but the bulls have not been able to push prices higher.

BCH

A breakout from $600 might indicate the start of a new uptrend, while a breakdown from $400 could resume the downtrend.

As the BCH/USD pair is holding above the 20-day EMA, we suggest traders hold their long position with the stops at $400.

EOS/USD

EOS has formed a symmetrical triangle at the bottom. It is largely stuck between $5.30 and $6 since Sept. 26. Attempts to break down from the 50-day SMA have seen buying at lower levels, which is a positive sign.

EOS

A breakout from the symmetrical triangle has a pattern target of $8. However, we believe the EOS/USD pair will face stiff resistance at $6.80. Traders can hold their long positions with the stop loss at $4.90. A close below the trendline of the triangle could sink prices back to the $4.49 level.

XLM/USD

Stellar has held the 20-day EMA for the past two days but has not been able to close (UTC time frame) above $0.24987525.

XLM

A breakdown from the 20-day EMA can result in a dip to the 50-day SMA and below that to the critical support of $0.21489857.

The XLM/USD pair will turn bullish if it breaks out and closes (UTC time frame) above the downtrend line of the descending triangle. As the bulls have managed to defend the 20-day EMA, we suggest traders hold their long positions with stops at $0.21.

LTC/USD

Litecoin is currently trading close to the center of the $49.466–$69.279 range. The moving averages have been flat for the past nine days and the RSI is close to the midpoint.

LTC

The LTC/USD pair will turn positive on a breakout and close above $70, and will turn negative on a breakdown and close below $49.

Trading inside a range can be volatile and can hit stops on both sides. Short-term traders can buy a small quantity on a rebound from the bottom of the range, whereas positional traders should wait for a breakout above $70 to buy.

ADA/USD

Cardano broke below the 20-day EMA on Oct. 2, but the bears have not been able to push prices to the lower support at $0.071355. The flat moving averages and the RSI close to the 50 level shows equilibrium between the bulls and the bears.

ADA

If the ADA/USD pair breaks out of $0.94256, it will indicate that bulls have the advantage, whereas a drop below $0.071355 will suggest that the bears have an upper hand.

Between these two levels, the digital currency might consolidate for a few days. We will wait for a buy setup to form before proposing any trade on it.

XMR/USD

Monero has been trading close to the $115 level since Sept. 29. This shows a balance between both buyers and sellers.

XMR

Both moving averages are flat and the RSI is close to the 50 level, which suggests that lackluster trading action might continue for a few more days.

The XMR/USD pair could move up to $140 if it sustains above $121. On the downside, a break below $107.80 could result in a drop to $103 and $96. Traders can maintain their long positions with a stop loss of $100.

IOTA/USD

IOTA has extended its stay inside the $0.6170–$0.5000 range. Both moving averages are flat and the RSI is close to the midpoint, suggesting continuation of range bound action.

IOTA

The IOTA/USD pair might attract buyers if it breaks out and sustains above the range. The first target of such a breakout is $0.8152. If the bears break below the range, the digital currency can retest the low at $0.4037.

Traders should wait for the price to close (UTC time frame) above $6.50 before initiating any long positions.   

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, Dash: Price Analysis, October 1

The newsflow regarding cryptocurrencies has been fundamentally positive this year. Could this affect prices? Let’s find out.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Discussions on blockchain and cryptocurrencies have entered the United Nation’s General Assembly. In his recent address, Malta’s Prime Minister Joseph Muscat has said that cryptocurrencies and blockchain can solve several problems and will become the money of the future.

This year, Malta has positioned itself as the “blockchain island,” introducing favorable regulations for the new asset class. While other nations view the crypto industry as a problem, Malta has chosen to look at the advantages it can offer and has adopted it wholeheartedly.

In the U.S., several blockchain companies have formed a coalition and hired Klein/Johnson Group, a bipartisan lobby shop. An interesting point to note is that the firm has agreed to accept part of its payment in digital coins.

Though China has banned crypto trading, Beijing Sci-Tech Report (BSTR), China’s oldest tech publication, has said it will accept Bitcoin for its 2019 subscriptions.

The fundamental news flow in 2018 has been positive. Could it begin to influence the prices of cryptocurrencies? Should investors start buying now? Let’s find out.

BTC/USD

Bitcoin has been consolidating in a small range for the past two days. Both moving averages are flat and the RSI is close to the neutral territory. This suggests an equilibrium between the buyers and the sellers.

However, this small range is unlikely to sustain for long. As the cryptocurrency has made a sequence of lower highs in 2018, the failure of the bulls to break out of the overhead resistance will attract selling.

BTC/USD

If the bears break down and sustain below the trendline, the BTC/USD pair can decline to $6,341 and below that to the critical support zone of $5,900–$6,075.

On the upside, the $6,831.99 line is the critical resistance. If the bulls scale above this, a rally to $7,413.46 will ensue. We anticipate a large range move within the next couple of days. For now, traders can hold their long positions with the stop losses (SLs) at $5,900.

ETH/USD

Ethereum has been trading close to the 20-day EMA for the past seven days. Both moving averages have turned flat and the RSI has also been hovering around the midpoint. This shows a consolidation in the range of $200–$250.

ETH/USD

A break out of the overhead resistance of $250 and the 50-day SMA will tilt the balance in favor of the bulls. Above $250, the ETH/USD pair might rally to $300–$322.57.

The key support to watch on the downside is the zone of $192–$200. If the bears sink the pair below this support, a retest of the lows is likely. We should get a decisive move in either direction this week.

XRP/USD

Ripple continues to consolidate in the range of $0.425–$0.625. The bulls attempted to break out of this range on September 30, but failed. Nevertheless, as the price has sustained above $0.583, it triggered our buy proposal.

XRP/USD

Currently, the price has turned down from the overhead resistance. The 20-day EMA is likely to act as a strong support. If the bears break down of this support, the XRP/USD pair can decline to $0.4255.

The digital currency will pick up momentum above $0.625. As both moving averages are trending up and the RSI is close to the overbought zone, we suggest traders hold their long positions with the SL at $0.42.

BCH/USD

Though Bitcoin Cash has held the 50-day SMA for the past two days, the bulls have failed to secure a bounce. This shows that buying has dried up and if the supports of the moving averages break, the digital currency can retest the recent lows.

BCH/USD

The BCH/USD pair will indicate a change in trend if it breaks out of $600. The key levels to watch on the upside are $660.0753 and $880.

As the price has been sustaining above the descending channel and the moving averages for the past four days, we suggest traders hold their long position with the stops at $400.

EOS/USD

EOS has been struggling to sustain above $5.65 for the past three days. Failure to bounce from the moving averages indicates absence of buying at higher levels.

EOS/USD

The EOS/USD pair has again corrected to the 20-day EMA. The zone between both moving averages is an important support. If this breaks, the next level to watch on the downside is $5. Below $5, a retest of $4.49 is probable. Therefore, we suggest traders hold their long positions with stops at $4.9.

If the pair doesn’t move up within the next couple of days, we shall close the position.

XLM/USD

Stellar has been holding above $0.24987525 for the past five days but is still struggling to break out of the downtrend line of the descending triangle.

XLM/USD

If the XLM/USD pair turns down from the current levels, it might break down of both moving averages and slide to the next support at $0.21489857.

The bearish pattern will be invalidated only if the bulls sustain above the downtrend line of the descending triangle. The levels to watch on the upside are $0.30434761 and $0.36065937.

As both moving averages are rising and the RSI is in the positive zone, the long positions can be held with the stops at $0.21.

LTC/USD

The break out of the range is still elusive as Litecoin remains stuck between $49.466 and $69.279. The longer the consolidation, the stronger will be the eventual break out or break down from it.

LTC/USD

Currently, the LTC/USD pair has corrected to the moving averages. A small trendline is also located at this level. Hence, we anticipate a strong support at $58.7.

If the bears break below the trendline, the virtual currency can drop to $54.5 and then finally to the bottom of the range at $49.466.

The downtrend will resume on a break down of the range and a double bottom will complete on a break out of $69.279. We shall wait for the prices to sustain above the overhead resistance before suggesting any long positions.

ADA/USD

Cardano has formed three successive intraday candlestick patterns. This shows that the range has shrunk and an expansion is due within the next couple of days. The 20-day EMA is flat and the 50-day SMA is flattening out. The RSI is in the neutral zone. This shows a balance between the buyers and the sellers.

ADA/USD

If the bears break below the 20-day EMA, a fall to $0.71355 is probable. If this level also breaks, a retest of $0.060105 is possible.

On the upside, a break out of the 50-day SMA will indicate strength. The ADA/USD pair will pick up momentum above $0.94256.

We don’t find any reliable buy setups, hence, are not proposing any trades in the pair.

XMR/USD

Monero declined to the 50-day SMA on September 29, where buying emerged. However, the bulls could not push above $120, which shows nervousness to buy at higher levels. Both moving averages are flat and the RSI is close to 50 levels, which shows a state of equilibrium between the bulls and the bears.

XMR/USD

The failure to break out of the downtrend line will attract profit booking and new shorts if the bears sustain below the 50-day SMA. The next level to watch on the downside is $96.390. Therefore, we recommend to keep the stops at $100 on the long positions.

The XMR/USD pair will show signs of strength if it sustains above the downtrend line. It will pick up momentum if it breaks out of the symmetrical triangle.

DASH/USD

Dash has been trading between the 20-day EMA and the 50-day SMA for the past two days. A break down of the 50-day SMA will complete a break of the symmetrical triangle that can result in a drop to $159.416 and below that to $130.024.

DASH/USD

If the support holds and the DASH/USD pair breaks out of the 20-day EMA, it might attempt to break out of the triangle.

We shall wait for a confirmed break out of the triangle before recommending any trades in it.   

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, Dash: Price Analysis, September 24

Since 2013, Bitcoin has seen a sharp rally in the last quarter of every year, except 2014.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Since 2013, Bitcoin has seen a sharp rally in the last quarter of every year, barring 2014. In 2013, the rise was 486.74 percent, in 2014, the leading cryptocurrency declined marginally by 16.69 percent. In 2015, the gain was 81.24 percent, while in 2016 the rally returned 58.17 percent. In 2017, the up move rewarded investors with a gain of 215.28 percent.

To quote Mark Twain, “History doesn’t repeat itself, but it often rhymes.” As traders, we respect the seasonal trends, therefore, we will be on the lookout for buying opportunities in the last quarter of this year. Of course, we won’t take a trade until we see a reliable buy setup.

The fundamentals of the sector continue to improve with large brokerages, banks, and nations coming forward to encourage blockchain technology and cryptocurrencies. Barring any adverse news, the trajectory should be higher in the next three months. So, which digital currencies are signaling a change in trend? Let’s find out.

BTC/USD

We assume that traders who follow us will have initiated long positions in the range of $6,600–$6,750, as suggested in the previous analysis. The pullback in Bitcoin stalled at $6,831.99 on September 18.

BTC/USD

Currently, the BTC/USD pair has corrected back to the support level of $6583.46. Both moving averages are located at this level, so this becomes a critical support to watch.

If the bulls defend this level and a bounce materializes, a move to the downtrend line of the descending triangle is possible. The virtual currency will pick up momentum if the price sustains above the downtrend line.

On the other hand, if current support breaks, a retest of the $5,900–$6,075.04 support is likely. Traders should keep the stop loss at $5,900 because if support breaks, a deeper fall to $5,450 and further to $5,000 is probable.

ETH/USD

Ethereum broke out of the descending channel on September 21 but is finding it difficult to sustain the breakout.

ETH/USD

The ETH/USD pair is currently back at the downtrend line of the channel, which should act as strong support. The 20-day EMA has flattened out and is also located at this level. Hence, this becomes a critical support level to watch.

If support breaks, the digital currency cоuld slide to the $192.50 level once again. However, if support holds, a rally to the $302 is possible. We currently don’t see a reliable buy setup, so we are not suggesting any long positions.

XRP/USD

We suggested traders not to chase the rally higher in our previous analysis. Our recommendation was validated as Ripple started a correction after reaching the intraday high on September 21.

XRP/USD

As the XRP/USD pair has broken out of the downtrend line and both moving averages have completed a bullish crossover, we believe that the trend has changed. Traders should now look for buying opportunities on dips. What are the key levels to watch out for?

The 50 percent Fibonacci retracement of the recent rally is at $0.51676, which has been acting as a strong support. If this level breaks, the correction can deepen to the 61.8 percent retracement level of $0.45832. If the new trend gains traction, the pullback should end at either of these two levels.

We will watch for the next couple of days and then take a call on a long position. Our bullish view will be invalidated if bears force the price below the downtrend line.  

BCH/USD

Bitcoin Cash failed to reach the 50-day SMA. It turned down from just above the $500 level on September 22. The trend remains down as it is still trading inside the descending channel.

BCH/USD

The 20-day EMA is flat and the RSI is close to the midpoint. This points to a likely consolidation in the near-term.

If the BCH/USD pair falls below $450, it can retest the low at $400. On the upside, the critical levels to watch out are the 50-day SMA and the downtrend line of the descending channel.

We will wait for the trend to change before suggesting a trade.

EOS/USD

Bulls could not build on the breakout of the overhead resistance of $5.65. EOS did not rally as we had anticipated, and turned down from $6.3117 on September 22.

EOS/USD

EOS is currently retesting the breakout level of $5.65. Support from the moving averages is just below the current level. If support holds, the EOS/USD pair will again try to rally to $6.8299.

If the current support breaks, a decline to the next support at $4.50 is probable. The digital currency has formed a continuation head and shoulders pattern, which will complete on a break below $4.4930. Therefore, we suggest traders keep their stops on the long position at $4.40.

XLM/USD

Stellar touched a high of $0.30434761 on September 23, just below its target objective of $0.3157505. Though the bulls broke out of the downtrend line of the descending triangle, they could not sustain the higher level.

XLM/USD

Currently, the XLM/USD pair has again plunged back into the descending triangle, which is a bearish sign. It has support at $0.24987525 and below from the moving averages. A fall below $0.21 could result in a retest of the critical support at $0.184. Therefore, traders who are long on our recommendation can trail their stops to $0.21.

The virtual currency will pick up momentum if the bulls can push it above the intraday highs of September 23.

LTC/USD

The pullback in Litecoin hit a roadblock at $63.650 on September 23. It is currently trying to take support at the moving averages.

LTC/USD

The LTC/USD pair is currently in a consolidation between $49.466 and $69.279. Both moving averages have flattened out and the RSI is at the midpoint, suggesting that the range bound action might continue for a few more days.

A breakout of the overhead resistance will complete a double bottom pattern, which has a pattern target of $89. A break below the moving averages could sink the digital currency back to the bottom of the range. We recommend traders attempt a long position only on a breakout and close (UTC time frame) above $69.279.  

ADA/USD

Cardano could not break out of the 50-day SMA on September 23, resulting in a pullback to the 20-day EMA.

ADA/USD

If support holds, a rally to the $0.111843 level is likely. On the other hand, if the bears sink the ADA/USD pair below the 20-day EMA, a fall to $0.071355 is probable.

Both moving averages are flattening out and the RSI is in neutral territory. We do not find any reliable buy setups at the current level, so we are not proposing a trade.

XMR/USD

Monero has pulled back to the 20-day EMA, which should act as a strong support. If the bulls secure a rebound from the moving average, a rally to $140 is probable.

XMR/USD

The XMR/USD pair is currently stuck inside the symmetrical triangle. A breakout of the triangle and $150 might start a new uptrend. Therefore, traders can keep the stops on their long positions at $100.

If the 20-day SMA and the 50-day SMA fail to provide support, a retest of the $81 level could be possible.

DASH/USD

Dash has earned a place in our analysis as it has climbed to the tenth spot and has been maintaining the price for the past few days.

DASH/USD

The DASH/USD pair bottomed out at $130.024 on August 14. Thereafter, it rallied to $224.830 on September 1, a gain of about 73 percent. Currently, the 20-day EMA is providing support, below which a fall to the 50-day SMA is probable.

We anticipate a consolidation between $130.024 and $224.830 over the next few days. The virtual currency will start a new trend if the bulls scale and sustain above $225. Until then, we suggest traders remain on the sidelines.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, September 19

The crypto markets keep struggling amidst a similarly mixed outlook from the regulators – the industry still has a long way to go.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Germany’s Minister of Finance Olaf Scholz believes that cryptocurrencies are not yet ready ro replace traditional fiat money, but he is not so confident about “20 to 30 years” into the future. This is a bullish sign, which confirms that the world is gradually coming to terms with the fact that cryptocurrencies are here to stay.

Yet, China continues to “remind” investors about the risks associated with Initial Coin Offerings (ICOs) and crypto trading. A committee of lawmakers in the UK has urged the regulators to act by introducing measures for consumer protection.

In the U.S., a study by the New York Attorney General’s office has found that many cryptocurrency exchanges lack sufficient customer protections, and have “serious conflicts of interests.” The report observed that only a few crypto trading platforms have market surveillance capabilities to deter trading manipulation.

A robust system is needed to attract large players, who are accustomed to the traditional exchanges that have many protective measures built in against market manipulation and fraud. Price volatility, however, might remain for even longer time as the market matures.

Over the past several months, we have shown how the traders can keep their risks low when trading cryptocurrencies. Let’s see if we can spot any buy setups today.

BTC/USD

Bitcoin has held $6,200 for the past two days, but is struggling to move up. Both moving averages are sloping down and the RSI is also in the negative territory. This shows that the sellers are in command.

BTC/USD

A break of the $5,900–$6,075.04 support zone will complete two negative formations, a head and shoulders pattern and a descending triangle pattern. Though head and shoulders is primarily a reversal pattern, it can also work as a continuation pattern, as is the case currently.

The lower levels that can offer some support are $5,450 and $5,000. However, after a break from such a major support, a number of stops will be hit, resulting in a quick drop. Therefore, we suggest traders avoid catching the falling knife if $5,900 breaks down.

If the bulls defend the support zone and push price above the moving averages, the BTC/USD pair can rally to $6,900 and $7,400. We suggest an aggressive buy on 50 percent of the desired position size on a close (UTC time frame) above $6,600.

The remaining positions can be added after the digital currency closes above the downtrend line of the descending triangle.

ETH/USD

The trend in Ethereum is still a downward one, but we find some buying interest around the $183–$192 area. However, on the upside, the 20-day EMA is proving to be a major resistance as the bulls have failed to scale this level for the past four days.

ETH/USD

If the bulls break out of the 20-day EMA, a move to the 50-day SMA is likely, with minor resistance at the downtrend line of the descending channel. We shall turn bullish if the price sustains above the channel for three days in a row.

If the ETH/USD pair turns down from the current levels, it can slide to $192 and further to $183. The pair is at a critical level and we should get a clearer picture within the next couple of days.

XRP/USD

Ripple bounced sharply from $0.27 on September 18 and broke out of the 20-day EMA. Currently, it is facing resistance at the 50-day SMA.

XRP/USD

If the bulls break out of the 50-day SMA, the next resistance is at $0.37390. The downtrend line is also located just above this level. If the XRP/USD pair sustains above the downtrend line, we can expect the trend to change from down to up.

If buying dries up at higher levels, the virtual currency might spend some more time inside the range of $0.27–$0.37390. Though the bounce from the lows is a positive development, we shall wait for additional evidence before suggesting any trades on it.  

BCH/USD

When the sentiment is negative, any uncertainty drives away the investors and that is what seems to be happening with Bitcoin Cash. With a looming split, the buyers are not taking any fresh positions, which has kept the cryptocurrency near its year-to-date lows.

BCH/USD

The trend is down, as both moving averages are sloping downward and the RSI is in the negative territory. A break of the September 11 low of $408.0182 will resume the downtrend and the BCH/USD pair can slump to the next support zone of $280–$300.

The bulls have to overcome the resistance from the 20-day EMA, the 50-day SMA and the downtrend line of the descending channel to signal a change in trend.

EOS/USD

EOS has been holding above $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 on the remaining long positions at $4.4.

EOS/USD

On the upside, the bulls have been facing a stiff resistance at the 20-day EMA and $5.65. The EOS/USD pair will gain strength if it breaks out of $5.65.

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

XLM/USD

Stellar has formed a range inside a range. Since September 11, it has been trading inside the range between $0.184 and $0.21489857. If the bulls break out of this range, a rally to the top of the large range of $0.184–$0.24987525 is probable.

XLM/USD

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 break out of the range and the downtrend line of the descending triangle, it will invalidate the bearish pattern, which is a bullish sign. We shall wait for the virtual currency to show some strength before recommending any trades on it.

LTC/USD

The bulls defended the critical support on September 18, but the pullback is facing resistance at the downtrend line and the 20-day EMA. Currently, Litecoin is consolidating in a large range of $49.466–$69.279 – a process, which began August 8.

LTC/USD

The LTC/USD pair will resume its downtrend if it sustains below $47.246. The next support on the downside is between $40 and $44.

On the upside, the virtual currency can rally to $69.279 if it breaks out of the moving averages. We might suggest a long position on a break out of the range because it will indicate a probable double bottom.

ADA/USD

Cardano broke out of the tight range of $0.060105–$0.071355 but is finding it difficult to sustain the higher levels. Currently, the price has dipped back into the range.

ADA/USD

Both moving averages are trending down and the RSI is in the negative zone. The trend remains headed downward. The ADA/USD pair will have to enter a bottoming formation before a change in trend can be confirmed.

Until then, any pullback attempts will face resistance at the moving averages. The downtrend will resume if the bears force a break down from the range.

XMR/USD

The bulls are trying to defend the support at the moving averages but are finding it difficult to break out of $120. Monero has turned volatile and trendless in the past few days, as both moving averages have flattened out and the RSI is close to the neutral territory.

XMR/USD

A symmetrical triangle is developing close to the bottom. A break of the trendline of the triangle will be a bearish development. It will increase the probability of a retest of $76.074, though the pattern targets are way lower. We suggest holding the long positions with the stops at $95.  

On the upside, the XMR/USD pair will face resistance at the downtrend line and at $122.6. It will attract buyers only after these two resistances are crossed.  

IOTA/USD

IOTA has been range bound between $0.5 and $0.6170 since September 6. The 50-day SMA and the downtrend line are also close to the upper end of the range. Hence, $0.6170 will act as a stiff resistance. The cryptocurrency will show strength if it can break out of this resistance.

IOTA/USD

The 50-day SMA is sloping down and the 20-day EMA is also starting to turn down, after trying to flatten in the past few days. This shows that the path of least resistance is to the downside.

A break of the $0.5 support can sink the IOTA/USD pair to $0.45 and further to $0.4. Traders can keep the SL of $0.46 on the long positions.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, September 14

As crypto market fundamentals show signs of improvement, will prices follow? Let’s find out.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

Mike Novogratz, founder and CEO of crypto investment firm Galaxy Digital Capital Management, called a bottom in cryptocurrencies on September 13, while conversely the Chief Commercial Officer of BitPay, Sonny Singh believes that Bitcoin will resurge in 2019 but that altcoins “will never come back.” He said the next trigger that can carry Bitcoin higher is the entry of institutional players.

Morgan Stanley is the latest Wall Street giant planning to allow its clients to trade Bitcoin using trade swaps, according to Bloomberg sources. Investors continue to pour money into funds linked with blockchain technology. U.S.-based venture capital firm Ribbit Capital is aiming to raise $420 million for its latest fund, a 40 percent increase above its previous venture that attracted $300 million.

New research by fintech analysts Juniper House found 65 percent of large enterprises – employing a minimum of 10,000 staff – are “considering or actively engaged” in blockchain deployment. This shows the fundamentals of the sector are improving. So, will prices follow the fundamentals higher? Let’s find out.  

BTC/USD

Bears did not challenge the $6,075-$5,900 support zone as we had expected. Bitcoin broke out of $6,500 on September 13 but is currently facing resistance at the 20-day EMA. This shows sellers are active on pullbacks. If the bulls break out of the 20-day EMA, a rally to the 50-day SMA, followed by a move to the downtrend line of the descending triangle is likely.

BTC

If the BTC/USD pair turns down from the current level and sustains below $5,900, it will complete two bearish patterns – a head and shoulders and a descending triangle. The pattern target of such a breakdown is much lower, but we anticipate strong support at $5,450 and $5,000.

If bulls hold the next dip above $6,200 and breakout of the 20-day EMA, we might suggest opening a small position. Until then, we suggest traders remain on the sidelines and wait for a reliable buy setup to form.

ETH/USD

We anticipated a pullback in our previous analysis and Ethereum rallied to $224.21 from the $167.32 low on September 12. However, the trend remains down as both the moving averages are trending down and the RSI is close to the oversold zone.

ETH

If the bulls scale above the 20-day EMA, the next overhead resistance is the downtrend line of the descending channel and the 50-day SMA, located just above the channel.

Hence, we shall wait for the ETH/USD pair to form a reversal pattern before proposing any long positions. The critical level to watch on the downside is $167.32, below which the decline can stretch to $136.12.

XRP/USD

Ripple is finding it difficult to sustain above the $0.27 level. A breakdown of the support zone of $0.27-$0.24508 can sink prices to $0.24001 and below to $0.20.

XRP

Both moving averages are sloping down and the RSI is in the negative, which shows that the sellers are in command. The XRP/USD pair has not broken out of the 50-day SMA since May 17. If bulls can sustain above the simple moving average, it will indicate buying and a probable change in trend. We will wait for prices to scale above the downtrend line before recommending a trade.  

BCH/USD

Bitcoin Cash remains in a strong downtrend with both the moving averages trending down and the RSI in negative territory.

BCH

The pullback from close to the $400 level is facing stiff resistance at the $475 mark. If the BCH/USD pair breaks down from $400, it could slump to $300 and $282.  

On the upside, if the bulls scale above the 20-day EMA, a rally to the 50-day SMA is probable. The virtual currency will show signs of a change in trend if it breaks out of the resistance line of the descending channel. We shall wait for a reversal pattern to form before suggesting any long positions.

EOS/USD

EOS has been facing resistance at the $5.65 level for the past two days., just below the 50-day SMA.

EOS

A breakout of the 50-day SMA could carry the EOS/USD pair to the $6.8299 level. Therefore, we recommend holding remaining long positions with stops at $4.40.

The 20-day EMA has turned flat while the 50-day SMA is still sloping down, with the RSI in the negative. If bears force prices lower, a drop to $4.4930 is probable. If this support breaks, the decline could extend to $4.1778 and $3.8723.

XLM/USD

Stellar has risen from the critical support of $0.184 but is facing resistance at the 20-day EMA for the past three days.

XLM

We anticipate the XLM/USD pair to extend its stay inside the range of $0.184-$0.24987525 for a few more days. The 20-day EMA is turning flat, which shows that the near-term selling has abated.

Traders should wait for a breakout from this range before initiating any long positions. A breakdown will be very negative and could sink prices to $0.11812475 and $0.082332.

LTC/USD

The breakdown from the $49.466 level on September 12 was short-lived as Litecoin bounced back into the range. This shows some buying below the $50 level. We like the positive divergence developing on the RSI, but need prices to follow up higher before it can act as a buy signal.

LTC

The LTC/USD pair will face stiff resistance on the upside from the 20-day EMA, the downtrend line and the 50-day SMA.

Both moving averages are trending down and the RSI is still in negative territory. A breakdown from $47.246 could sink prices to the next support zone of $40-$44. We suggest traders wait until the virtual currency forms a reliable buy setup.

ADA/USD

Bulls are trying to defend the $0.06 level on the downside but have not been able to carry Cardano above the $0.0715 level for the past two days.

ADA

Both moving averages are sloping down and the RSI remains in oversold territory. This shows that sellers are firmly in control. The target on the downside is $0.054541.

The first sign of a probable change in trend will be when the ADA/USD pair breaks out and sustains above $0.111843. We will wait for a reliable buy setup to form before suggesting any long positions.

XMR/USD

Monero has broken out of the moving averages after taking support at the downtrend line. If it breaks out at $120, it could climb to $142.71 and $150.

XMR

The moving averages are close to each other and are flattening out while the RSI has moved into positive territory. This shows that bulls have an advantage in the short-term. Therefore, we suggest holding long positions with the recommended stop loss.

The XMR/USD pair will turn negative if bears sink prices below the September 12 low of $96.390.  

IOTA/USD

IOTA is attempting to bounce after taking support at the $0.5 mark, but it is facing strong resistance at the 20-day EMA.

IOT

The zone between $0.59-$0.67 will act as stiff resistance. Once this zone is crossed, a move to $0.81 and $0.9150 is probable. The 20-day EMA has flattened out and the RSI is attempting to climb into positive territory, which shows that selling pressure is decreasing. Traders could hold their long positions with the stops at $0.46.  

If bulls fail to scale above the overhead resistance, the IOTA/USD pair will dip to $0.50 and $0.4628.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, September 12

U.S. financial regulators are watching crypto companies with increased scrutiny, helping rebuild investor confidence in the industry.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Financial regulators are watching companies involved in the cryptocurrency industry with increasing scrutiny.

On September 11, the U.S. Securities and Exchange Commission (SEC) penalized a crypto hedge fund for the first time, while the Financial Industry Regulatory Authority (FINRA) charged broker Timothy Ayre with securities fraud over a cryptocurrency deal.

These actions by the regulators will help rebuild the confidence of the institutional and retail investors in the crypto industry.

As the markets fall deeper into the bear territory, Bitcoin is emerging as the strongest cryptocurrency. It has steadily increased its dominance to about 58 percent of the total market capitalization, partly because the altcoins keep bleeding.

Over the course of 2018, the second and third largest cryptocurrencies by market cap have plunged 77 percent and 88 percent respectively, while Bitcoin has declined by about 55 percent, according to data from CoinMarketCap.

The price action of the next few days will determine whether Bitcoin will pull the altcoins higher or the altcoins will drag Bitcoin lower.

BTC/USD

For the past three days, Bitcoin has been trading inside the intraday highs and lows formed on September 8. Failure of the bulls to secure a bounce from the critical supports is a negative sign. The moving averages are declining and the RSI is in the negative zone, which shows that the sellers have an upper hand.

BTC/USD

The bears might attempt to break the $5,900–$6,075.04 support zone within the next 3–4 days. If successful, it will complete a head and shoulders pattern and a descending triangle pattern, which can trigger a number of stop losses, resulting in a quick fall to $5,450 and below that to $5,000. The pattern targets are, however, way lower.

If the bulls successfully defend the support zone and push price above $6,500, a move towards the downtrend line is probable, with minor resistances at the 20-day EMA and the 50-day SMA.

We might consider proposing a trade if we find that the BTC/USD pair is finding strong buying support after breaking out of $6,500. Until then, we suggest traders stay on the sidelines, waiting for the right opportunity to go long. Our bullish view will be invalidated if the price sustains below $5,900.

ETH/USD

Ethereum is in a firm bear grip as it continues to make new 52-week lows on a regular basis. The RSI has entered deep oversold territory and the price is close to the line from where the cryptocurrency has bounced on four previous occasions. Hence, a pullback from close to the current levels is possible.

ETH/USD

Any recovery will face resistance at the 20-day EMA and the downtrend line of the descending channel.

On the downside, if the ETH/USD pair breaks below the support line, it can slide to $136.12, a level last touched on July 16. We suggest traders wait for the decline to end and the digital currency to form a reversal pattern before attempting any long positions.

XRP/USD

Ripple has broken below the $0.27 mark and is on target to slide to the next support zone of $0.24001–$0.24508. If this support also breaks down, the decline can extend to the next support, close to $0.20.

XRP/USD

The downtrend remains intact. Both moving averages are trending down and the RSI is about to enter the oversold territory.

Any pullback will face a stiff resistance at $0.27 and above that at the moving averages. We shall turn positive on the XRP/USD pair only after it breaks out of the downtrend line. Until then, the traders can remain on the sidelines.

BCH/USD

Bitcoin Cash has extended its journey southwards towards its first target objective of $400. If this support breaks, the next levels to watch on the downside are $300 and $282. 

BCH/USD

The BCH/USD pair will remain in a downtrend as long as it trades inside the descending channel. Any attempt to pull back will face a stiff resistance at the 20-day EMA and the 50-day SMA, which is close to the resistance line of the channel.

There are no signs of a reversal on the chart yet. We shall wait for the decline to end and a bottom formation to complete before proposing a trade on it.

EOS/USD

EOS has failed to scale above $5.15 for the past four days. Now, the bears are likely to attempt a breakdown of the support zone at $4.4930–$4.6.

EOS/USD

If successful, the EOS/USD pair can extend the fall to $4.1778 and below that to $3.8723. The traders can keep the stops on the remaining long positions at $4.4. 

On the upside, the virtual currency will show signs of a turnaround if the bulls sustain above the 50-day SMA for three days. The change in trend will pick up momentum above $6.8299.

XLM/USD

Stellar has been trading close to the critical support of $0.184 for the past three days. The attempt to pull back on September 11 met with selling just above the 20-day EMA.

XLM/USD

The down sloping moving averages and the RSI in the negative territory indicate that the path of the least resistance is to the downside. A breakdown of the $0.184 level will complete a descending triangle formation, accelerating the fall.

If the bears sustain below $0.184, the levels to watch on the downside are $0.11812475 and $0.082332. The XLM/USD pair will show signs of a turnaround if the bulls break out of the $0.25 threshold.

LTC/USD

Litecoin is in a strong downtrend. It has made a new year-to-date low, breaking below the previous low established on August 14.

LTC/USD

The next level to watch on the downside is the support zone of $40–$44. If this support also breaks down, the LTC/USD pair can plummet close to $30.

Any pullback will face resistance at the 20-day EMA, the downtrend line and the 50-day SMA. We shall turn positive on the virtual currency if it forms a reliable reversal pattern.

ADA/USD

Cardano has picked up momentum on the downside, as it races towards its pattern target of $0.054541. Both moving averages are sloping down and the RSI has gone deep into the oversold territory. Prices are in the red for the sixth consecutive day.

ADA/USD

The investors are liquidating their positions as the ADA/USD pair continues to plunge with no signs of a bottom. It is better to wait for the selling to run its course and for the buyers to return before initiating any long positions. Any pullback will face resistance at $0.083192 and the 20-day EMA.

XMR/USD

Monero turned down from the moving averages after failing to break out of it from September 9–11. It is currently at the downtrend line, below which it can slide to $87.

XMR/USD

The moving averages are gradually turning down and the RSI has dipped into the negative territory, which shows that the bears are in command. Therefore, we had suggested trailing the stops higher in the previous analysis.

The zone between $76.074 and $81 can provide a strong support, but if this line breaks down, the XMR/USD pair can fall to $61.5 and thereafter to $46.

Any recovery on the upside will face a stiff resistance at the moving averages and the trendline.

IOTA/USD

IOTA has turned down from the 20-day EMA and has broken below the September 9 lows, which increases the probability of a fall to $0.4628.

IOTA/USD

Below $0.4628, the IOTA/USD pair can fall to the August 14 low of $0.4037. Therefore, the traders can protect their long positions with the stops at $0.46. The trend is bearish as both moving averages are falling down and the RSI is in the negative territory.

The virtual currency will show signs of bottoming out if the bulls break out and sustain above $0.9150. Until then, every rise will invite selling. 

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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