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Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 18

Ethereum’s Joseph Lubin predicted this week that blockchain will make up more of the global economy in the coming decades.

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.

Ethereum (ETH) co-founder Joseph Lubin expects the global economy to grow 10 times in the next 10 to 20 years, powered by the mass use of blockchain technology. According to him, the current condition of the nascent space is similar to the use of email in 1983, when only a handful of early adopters were using it.

Tyler and Cameron Winklevoss, founders of the Gemini crypto exchange, have welcomed Facebook’s rumored stablecoin. However, they said that cryptocurrencies will usher in a greater disruptive development compared to the social networking platforms.

Gradually, large traditional players in various fields are recognizing the power of blockchain technology and cryptocurrencies, partnering with various startups to gain the first mover advantage. Different nations are also not leaving any stone unturned to make the most of the budding technology.

These developments are positive for the future. Nevertheless, the price is yet to respond to improved fundamentals. What do the charts of the major cryptocurrencies project? Let’s find out.

BTC/USD

Though Bitcoin (BTC) has been rising above the psychological resistance of $4,000 for the past three days, it has not been able to sustain it. This shows profit booking at higher levels. If the price doesn’t close above $4,000 soon, we anticipate a mild correction to the 20-day EMA and below it to the uptrend line.

If the digital currency rebounds sharply from either of the supports and breaks out of $4,000, it will be a positive sign. It is then likely to rally to $4,255, which is a major hurdle. A close (UTC time frame) above $4,255 will complete a double bottom, which has a pattern target of $5,273.91.

Currently, both the moving averages are sloping up and the RSI is in the positive territory. Hence, the path of least resistance is to the upside.

BTC/USD

Our bullish view will be invalidated if the BTC/USD pair dips below the moving averages. On a fall below the 50-day SMA, the pair can drop to $3,355. Below this level, the final support is at $3,236.09. The downtrend will resume if the bears sink the price to a new yearly low.

Traders can retain the stop loss on the long positions below $3,236.09. We shall soon trail the stops higher to reduce the risk. We might suggest adding long positions on a close above $4,255.

ETH/USD

Ethereum (ETH) failed to sustain above $144.78 on March 16. This shows a lack of buying at higher levels. The price has again dipped back to the 20-day EMA, below which a fall to $134.50 is probable. Both the moving averages have started to slope up, which indicates a minor advantage to the bulls.

ETH/USD

A breakout and close above $144.78 can result in a move to the next overhead resistance of $167.32. If this level is also crossed, it will complete a bullish ascending triangle pattern that has a target objective of $251.64.

On the other hand, if the ETH/USD pair plunges below the moving averages, it can slide to the trendline of the ascending triangle pattern. Traders can keep the stops on the remaining long positions at $125.

XRP/USD

Ripple (XRP) has been trading close to the moving averages for the past few days. This period of consolidation is unlikely to continue for long. We expect a decisive breakout or a breakdown within the next few days.

XRP/USD

A breakout of $0.33108 will propel the XRP/USD pair to the resistance line of the descending channel. If the bulls succeed in pushing the price above the channel, we expect the pair to pick up momentum and start a new uptrend.

On the other hand, if the digital currency plunges below the uptrend line of the ascending triangle, it can drop to the next support at $0.27795. Below this level, a drop to $0.24508 is possible. Traders can protect their long positions with the stop loss just below $0.27795.

LTC/USD

Litecoin (LTC) broke above the resistance line on March 16, but it is facing profit booking at higher levels. If the price rebounds off $56.910, it will indicate strength and a rally to $65.561 is probable. Above this level, the up move can extend to $69.2790. Though the price has been moving up, the RSI has failed to catch up. This negative divergence on the RSI is worrying us. Traders can trail the stops on the remaining long positions to $52.

LTC/USD

We are not recommending booking complete profits at the current levels because, in a bull phase, the negative divergence on the RSI can often give a false signal. Notwithstanding, since it is a warning sign, we have proposed trailing the stops to protect the paper profits.

If the LTC/USD pair breaks down of the 20-day EMA, it can slide to the next support at $47.2460. The 50-day SMA is just below this level. A breakdown of this support will indicate weakness.

EOS/USD

EOS has been struggling to breakout of $3.8723, but is finding support close to the 20-day EMA. Both the moving averages are gradually trending up, and the RSI is in the positive territory, which shows that the bulls have a slight edge.

EOS/USD

If the EOS/USD pair sustains above $3.8723, it can move up to $4.4930. But if the pair turns down from the current levels and breaks below the 20-day EMA, a fall to $3.1534 is probable. Below this support, the trend will turn in favor of the bears. Therefore, traders can retain the stops on the remaining long positions at $3.1. We shall soon trail it higher.

BCH/USD

Bitcoin Cash (BCH) has quickly risen to the overhead resistance of $163.89. The attempt to breakout and sustain above it has failed. Still, with the 20-day EMA starting to slope up and the RSI in the overbought zone, the path of least resistance is to the upside. Above $163.89, it can rally to $175 and above it to $220.

BCH/USD

If the BCH/USD pair fails to scale above $163.89, it will again slide back to the 20-day EMA. The trend will turn negative if the bears sink the price below $120.46, and traders can retain the stop loss on the long positions at $116. We shall watch for a couple of days and then recommend trailing the stops higher.

BNB/USD

Binance Coin (BNB) broke out of the overhead resistance at $15.9100517 on March 16. We expected it to continue higher after breaking out of the resistance. However, the digital currency is stuck near the breakout levels for the past two days.

BNB/USD

A breakout of $16.6442826 can propel the BNB/USD pair to its target objective of $18. Both the moving averages are trending up and the RSI is in the overbought zone, which shows that the bulls have the upper hand.

However, if the price again slips back below $15.9100517, it will indicate profit booking at higher levels. The support on the downside is at the uptrend line and below it at 20-day EMA. If the 20-day EMA breaks down, the short-term trend will turn in favor of the bears. Therefore, please trail the stop loss on the remaining long positions to $14.

XLM/USD

Stellar (XLM) is consolidating near the recent swing high, which is a positive sign. The 20-day EMA is sloping upward and the RSI is close to the overbought zone, which suggests that the bulls are in command.

XLM/USD

On the upside, the XLM/USD pair has to breakout of the resistance line to pick up momentum. The targets are $0.13250273 and above it, $0.14861760.

Our bullish view will be invalidated if the price turns down from the current levels and slips below the 20-day EMA. In such a case, a fall to the uptrend line is probable. The traders can keep the stop loss on the long positions at $0.08.

TRX/USD

Though Tron (TRX) broke out of the 20-day EMA on March 16, it turned back from the 50-day SMA. The bulls could not keep up the buying pressure and it is currently struggling to hold the 20-day EMA.

TRX/USD

Both the moving averages are sloping down and the RSI has also slipped into the negative territory, which suggests that the bears have the upper hand. The TRX/USD pair will pick up momentum above $0.02815521. Until then, the bears are likely to sell on rallies.

On the downside, support lies at $0.02094452. If this level breaks, the next one to watch is $0.01830. We remain neutral on the digital currency until it breaks out and sustains above the range.

ADA/USD

Cardano (ADA) broke above the $0.036815 to $0.051468 range on March 16, but did not trigger our buy mark of $0.05650 suggested in the previous analysis. However, it has not given up much ground as is trying to hold above the previous resistance-turned-support of $0.51468. This is a positive sign, as it shows that the bulls are in no hurry to book profits.

ADA/USD

If the ADA/USD pair picks up strength and rallies above $0.05650, we expect it to reach $0.066121 and above it to $0.080. Therefore, we retain the buy suggested in the previous analysis.

Contrary to our assumption, if the price sustains below $0.051468, it can drop to the 20-day EMA, which should provide support. If this support breaks, the pair will extend its stay in 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, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 15

Some experts are predicting another Bitcoin rally in August once fundamentals have improved.

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.

In a recent interview, United States Securities and Exchanges Commission (SEC) Chairman Jay Clayton said that he is concerned about manipulation and custody services in the crypto space. If these issues are addressed and if any Bitcoin ETF satisfies their rules, it might stand a chance of getting the green light.

While crypto markets are speculating on the probability of a Bitcoin ETF, the Chicago Board Options Exchange (CBOE), has announced that it will not be offering any new Bitcoin futures contracts in March. This is likely to benefit its competitor CME, which will continue to provide the traders with an opportunity to trade in Bitcoin futures.

Fundstrat Global Advisors founder Tom Lee believes that the fundamentals of Bitcoin are improving. He expects a turnaround by August of this year. On the way up, he anticipates $6,000 to act as a major resistance.

Let’s see what our analysis projects.  

BTC/USD

Bitcoin (BTC) is trying to bounce off the 20-day EMA and rise above the psychological resistance of $4,000. Both the moving averages are gradually sloping up and the 20-day EMA has held in the past few days, which shows buying at lower levels. We expect the digital currency to pick up momentum above $4,000 and quickly rally to $4,255. If the bulls scale this level, it will complete a double bottom pattern that has a target objective of $5,273.91.

BTC/USD

On the contrary, if the BTC/USD pair again turns down from $4,000 and breaks below the uptrend line and the 50-day SMA, it will indicate profit booking and aggressive short initiation at higher levels.

The critical zone to watch on the downside is $3,355–$3,236.09. A breakdown of this zone will be very negative. The downtrend will resume if the digital currency plunges to a new 52-week low. Therefore, traders can keep the stop loss on the existing long positions below $3,236.09. We will soon trail the stops higher.

ETH/USD

Ethereum (ETH) has successfully held the support at $134.50. The bulls are trying to push the price towards $144.78. Both the moving averages are flat and the RSI is also close to the center. This suggests equilibrium between buyers and sellers.

ETH/USD

If the ETH/USD pair picks up momentum and breaks out of $144.78, it can rally to the critical overhead resistance of $167.32. Above this level, the ascending triangle completes that has a pattern target of $251.64.

The trend will weaken if the digital currency drops below 50-day SMA. The next support on the downside is $116.30. The uptrend line of the ascending triangle is also at this level; hence, we expect this to hold. A break below the uptrend line will invalidate the bullish pattern, which is a negative sign. Traders can protect the remaining long positions with stops at $125.

XRP/USD

Ripple (XRP) has been clinging to the uptrend line of the developing ascending triangle for the past few days. Both the moving averages are flat and the RSI is at the midpoint, which points to a balance between demand and supply.

XRP/USD

If the XRP/USD pair slips below the uptrend line, it can drop to the support at $0.27795. A breakdown of this level can retest the yearly low at $0.24508. Therefore, traders holding long positions can keep the stop loss just below $0.27795.

On the other hand, if the pair spurts higher from the current levels and rises above $0.33108, it can move up to the resistance line of the descending channel. A breakout of the channel will indicate a likely change in trend.

LTC/USD

Litecoin (LTC) again took support close to the 20-day EMA on March 14. Currently, the bulls have pushed the price above the overhead resistance of $56.910, which is a bullish sign. The next resistance on the upside is $59.4494. If the bulls succeed in scaling this level, we anticipate a rally to $65.5610 and above it to $69.2790.

LTC/USD

While the up-trending moving averages are bullish, the negative divergence on the RSI is worrying us. If the RSI breaks out of the resistance line, it will be another positive sign.

Our bullish view will be invalidated if the LTC/USD pair breaks down of the 20-day EMA and drops to $47.2460. Traders can retain the stops on the remaining long positions at $50.

EOS/USD

EOS has been holding above the 20-day EMA for the past four days. Repeated attempts by the bears to sink the price below this level have failed, which shows buying at lower levels.

EOS/USD

Both the moving averages are gradually moving higher and the RSI has also turned up. We expect the bulls to make another attempt to scale above the overhead resistance of $3.8723 and rally towards $4.4930.

However, if the EOS/USD pair turns down from current levels and slips below the 20-day EMA, it will correct to $3.1534. The 50-day SMA is also at this level, hence, we expect this support to hold. But if the bears sink the pair below the 50-day SMA, it can correct to $2.1733. Therefore, traders can keep their stops on the remaining long positions at $3.10.

BCH/USD

Bitcoin Cash (BCH) is currently attempting to sustain above the $120–$140 range. The strong bounce from the 50-day SMA increases the probability of a breakout and close (UTC time frame) above $140. Following the breakout, the move can extend to the next overhead zone of $157.95 to $163.89. As the digital currency has a history of vertical rallies, traders can trail their stops higher instead of booking profits at the above-mentioned levels. If the momentum picks up, the rally can reach $186.30 and above it $239.

BCH/USD

However, if the BCH/USD pair reverses direction from the current level, it will prolong its stay in the range for a few more days. It will turn negative on a breakdown of the range at $120. The next level to watch on the downside is $105. For now, traders can keep the stops on the long positions at $116.

BNB/USD

Binance Coin (BNB) has been consolidating close to the overhead resistance of $15.9100517 for the past three days. It has not given up much ground, which suggests that the bulls are in no hurry to book profits on their positions.

BNB/USD

The trend remains firmly up as both the moving averages are sloping up and the RSI is in the overbought territory. This increases the possibility of an upward breakout that can carry the BNB/USD pair to $18. Therefore, traders can retain the stops on the remaining long positions at breakeven. We shall suggest trailing the stops higher next week.

Our bullish assumption will prove to be wrong if the pair reverses direction from the current levels and breaks below the 20-day EMA. The next support on the downside is the 50-day SMA.

XLM/USD

Stellar (XLM) has been crawling higher for the past few days but is struggling to breakout of the resistance line. A breakout of the resistance line will propel it towards $0.13427050. With the 20-day EMA sloping up and the RSI close to the overbought level, the path of least resistance is to the upside. Traders can protect their long positions with a stop loss of $0.08.

XLM/USD

Contrary to our assumption, if the XLM/USD pair fails to breakout of the resistance line, it can slide to the 20-day EMA and below it to the uptrend line. A breakdown of the uptrend line will indicate that the bears are back in the driver’s seat and a retest of the low is probable.

TRX/USD

Though Tron (TRX) has been trading below the 20-day EMA for the past few days, the bears have not been able to sink it below $0.02094452. This suggests buying at lower levels.

TRX/USD

As the TRX/USD pair has held up close to the 20-day EMA for the past few days, we expect the bulls to make another attempt to push prices higher. On the way up, after crossing 20-day EMA, the 50-day SMA will act as the first resistance. The final hurdle is $0.02815521, above which, we expect a new uptrend to start. We shall suggest initiating long positions after the pair sustains above the range.

But if the digital currency turns down from the current levels and slides below $0.02094452, it can drop to $0.01830. This is an important support. If this breaks down, a retest of the lows is probable. We do not see a reliable trade set up as long as the virtual currency is stuck inside the range.

ADA/USD

Cardano (ADA) continues to be range bound between $0.036815 and $0.051468. It has reached the top of the range, from where it had returned thrice in the past. The bulls will attempt to scale above this while the bears will try to defend it.

ADA/USD

As the 20-day EMA is trending up and the RSI has sustained in positive territory, we anticipate a breakout this time. The minimum target objective following the breakout is $0.066121 and if it is crossed, the next level to watch is $0.080. Therefore, the traders can buy above $0.0565 and keep a stop loss at $0.044 for now. We shall soon trail the stops higher.

Our bullish view will be invalidated if the ADA/USD pair turns down from the current levels. In such a case, the range bound action will continue for a few more days. The pair will turn negative on a breakdown and close (UTC time frame) below the range.

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

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Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, TRON, Cardano: Price Analysis, March 13

Numerous companies have been moving ahead with blockchain and crypto projects, showing interest from traditional players.

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.

Barclays internet analyst Ross Sandler believes that a cryptocurrency by Facebook could add $19 billion to its revenue by 2021. If that happens, it will help expand the reach of cryptocurrencies and will be a major sentiment booster for the whole sector.

Overstock.com’s blockchain subsidiary, Medici Ventures has purchased a 5.1 percent stake in the blockchain banking platform Bankorus. The firm has purchased significant stakes in various blockchain companies.

It is not only in the West that crypto is generating significant interest. Chinese cryptocurrency mining manufacturer Canaan Creative is rumored to have secured hundreds of millions of dollars of financing from unnamed parties.  

We find numerous companies that have been moving ahead with blockchain– and crypto-related projects. This shows that the sector is generating huge interest from traditional players. It is only a matter of time before the price of cryptocurrencies starts to react to all these positive fundamental developments.

However, analysts at Bloomberg expect Bitcoin to head southward. They have observed that the price action is similar to November of last year, which had led to a sharp fall. But what do our charts forecast? Let’s find out.

BTC/USD

The bulls are providing support to Bitcoin (BTC) at the 20-day EMA. Both the moving averages are gradually moving up and the RSI is in the positive zone. This shows that bulls have a slight advantage. However, in order to solidify their position, they should quickly carry the digital currency above $4,000.

We expect a new uptrend on a breakout and close above $4,255, as it will complete a double bottom pattern that has a target objective of $5,273.91. Traders can add to their long positions on a close (UTC time frame) above $4,255.

BTC/USD

On the downside, the BTC/USD pair has support at the 20-day EMA. If this breaks, the next support is at the uptrend line and finally at the 50-day SMA. If the pair plummets below the 50-day SMA, it can drop to the final support zone of $3,355–$3,236.09. This is the last support, below which, the downtrend will resume. Therefore, traders can maintain their stops on the existing long positions below $3,236.09. We shall raise the stop loss before the end of this week.

ETH/USD

The bulls are struggling to keep Ethereum (ETH) above $134.50. Though they purchased the dip to the 50-day SMA on March 12, they have not been able to sustain above the 20-day EMA. Currently, both the moving averages are flattening out and the RSI is close to the midpoint. This suggests a consolidation in the near term.

ETH/USD

A breakdown of the 50-day SMA can sink the ETH/USD pair to the next support at $116.30. This is a major support, as the uptrend line of the ascending channel also lies at this level. Hence, we anticipate buyers to step in and buy close to $116.30. But if the pair breaks down of this critical support, a drop to $102.49 is probable.

Conversely, if the bulls scale above $144.78, the up move can reach $167.32. The ascending triangle pattern will complete on a breakout and close above $167.32. This has a pattern target of $251.64. Traders can keep the stops on the remaining long positions at $125.

XRP/USD

The intraday range in Ripple (XRP) had been shrinking for the past few days. The attempt by the bulls to resolve the tight range on the upside is not finding buyers at higher levels. This is a bearish sign. A breakdown of the uptrend line can sink the virtual currency to the next support at $0.27795. If this level also breaks down, the final support is the yearly low of $0.24508, below which the downtrend will resume.

XRP/USD

However, as long as the XRP/USD pair stays above the uptrend line of the ascending triangle, the bulls are likely to attempt to scale above $0.33108 once again. On a close (UTC time frame) above $0.33108, the pair is likely to pick up momentum and rally to the downtrend line of the descending channel. A breakout of the channel will indicate a likely change in trend. For now, traders can keep the stop loss on the long positions below $0.27795.

LTC/USD

Litecoin (LTC) found support close to the 20-day EMA on March 12, but the bulls have not been able to breakout of the overhead resistance at $56.910. However, both the moving averages are sloping up and the RSI is in positive territory, which suggests that the bulls have the upper hand. A breakout and close (UTC time frame) above the overhead resistance zone of $56.910–$59.4494 can propel the digital currency to $65.5610 and above it to $69.2790.

LTC/USD

Contrary to our assumption, if the LTC/USD pair breaks down of the 20-day EMA, it will weaken the momentum and a fall to $47.2460 is probable. Therefore, traders can protect their gains on the remaining long positions with the stop at $50. The only thing bearish on the chart is the negative divergence on the RSI.

EOS/USD

EOS has failed to cross above the downtrend line for the past four days. However, a positive is that it has not yet broken down of the 20-day EMA. If the digital currency breaks out of the downtrend line and $3.8723, it can pick up momentum and rally to $4.4930.

EOS/USD

On the other hand, if the bears sink the EOS/USD pair below the 20-day EMA, it can fall to the next support at $3.1534. The 50-day SMA is also located at this level, hence, we expect strong demand at this level. But if the seller’s break down of this critical support, it will re-enter the range and can slide to $2.1733. Hence, traders can protect their remaining long positions with the stops at $3.10.

BCH/USD

Bitcoin Cash (BCH) had dipped closer to the bottom of the $120–$140 range on March 12, where buying emerged. However, the bulls have not been able to push the price above the moving averages, which shows a lack of demand at higher levels. The bears are likely to attempt to breakdown of $120 level once again. If successful the digital currency can fall to $105, which is a strong support. But if this support gives way, a retest of the yearly low of $73.50 is probable.

BCH/USD

Conversely, if the BCH/USD pair rises above the moving averages, the bulls will attempt to breakout of $140 and rally to the next overhead zone of $157.95–$163.89. Above this zone, the next level to watch on the upside is $175. For now, traders can retain the stops on the long positions at $116.

BNB/USD

Binance Coin (BNB) broke out of the pennant on March 12 but is currently facing resistance at $15.9100517. Both the moving averages continue to trend up and the RSI is in the overbought zone, which shows a strong uptrend.

BNB/USD

A breakout of $15.9100517 can propel the BNB/USD pair to $18, above which a retest of the lifetime highs is possible. On the other hand, if the pair turns down from current levels, it has support closer to $14, below which a drop to the 20-day EMA is possible. As the traders have already booked partial profits earlier, we suggest to retain the stops on the remaining long positions at the breakeven. If the cryptocurrency does not sustain above $15.9100517  within the next couple of days, we shall suggest booking profits on the complete position.

XLM/USD

Stellar (XLM) has been consolidating for the past two days. We like that it has not given up much ground. The 20-day EMA is sloping up and the RSI is close to the overbought levels. This suggests that the bulls are at an advantage. A breakout of $0.011245806 can propel the digital currency to $0.13427050.

XLM/USD

Conversely, if the XLM/USD pair turns down from current levels, it can drop to the 20-day EMA, which is a critical support. If this support breaks, the pair can correct to the uptrend line. This line has provided support three times, hence, we expect the price to find buyers close to it. However, if the bears break down of the uptrend line, a retest of the yearly lows is possible. Therefore, traders can maintain the stops on the long positions at $0.08.

TRX/USD

Tron (TRX) has been sustaining below $0.02306493 for the past two days. This shows a lack of demand at lower levels. The 20-day EMA is sloping down and the RSI is languishing in the negative zone, which suggests that the path of least resistance is to the downside.

TRX/USD

The TRX/USD pair has support at $0.02094452, below which the slide can extend to the critical support of $0.01830. We expect the bulls to defend $0.01830, hence, we might suggest a long position if the pair bounces off this support.

Our bearish view will be invalidated if the price bounces off the current levels and rises above the moving averages. We shall suggest a long position if the digital currency sustains above $0.02815521. Until then, we remain neutral.

ADA/USD

Cardano (ADA) has been range bound between $0.036815 and $0.051468 since Dec. 21. The price has bounced off the supports twice, which shows buying at lower levels. However, the bulls have not been able to break out of the range, which shows profit booking closer to the resistance of the range.

ADA/USD

The 20-day EMA is sloping up and the RSI has also moved into positive territory. This shows that the bulls have the upper hand in the short term. A breakout and close (UTC time frame) above $0.051468 is likely to result in a new up move that can carry the price to $0.066121 and if this is crossed, the rally can extend to $0.080.

The traders can purchase the ADA/USD pair above $0.0565 and keep a stop loss at $0.044 for now. We shall trail the stop loss higher as the price moves up in our favor or if it fails to follow up after breaking out of the range.

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

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Binance Coin (BNB) Could Rally Again Versus USD, BTC and ETH

Binance Coin (BNB) surged above $15.00 and later started consolidation against the US Dollar. BNB is likely preparing for the next crucial break and it could outperform bitcoin, Ethereum and ripple.

Key Talking Points

  • Binance coin is placed nicely in an uptrend above the $13.80 support area against the US Dollar.
  • There is a major bearish trend line in place with resistance at $15.00 on the 4-hours chart of BNB/USD (Data feed via Binance, price calculated by Trading view).
  • BNB price is likely to make the next move above the $15.00 and $15.50 resistance levels.

Binance Coin Price Analysis (BNB to USD)

This past week, we saw a solid rally in binance coin price above the $12.00 and $15.000 resistance levels. BNB price is currently consolidating gains and it seems to be preparing for the next crucial break, while other cryptocurrencies such as bitcoin, ripple, Ethereum, litecoin, bitcoin cash and EOS are pointing bearish signs.

Binance Coin Price Analysis BNB Chart

Looking at the chart, the price rallied after it broke the $12.10 resistance. There was a clear break above the $13.50 and $13.80 resistance levels. The price rallied above the $15.00 resistance and settled well above the 100 simple moving average (4-hours).

A high was formed at $15.82 and later the price started a downside correction. It declined below the $15.00 support and the 50% Fib retracement level of the recent wave from the $13.21 low to $15.82 high.

However, the $14.00 and $13.80 levels acted as a strong support. Besides, the 61.8% Fib retracement level of the recent wave from the $13.21 low to $15.82 high acted as a support.

The price is currently consolidating in a range above $13.80 and it seems to be preparing for the next break. On the upside, there is a major bearish trend line in place with resistance at $15.00 on the 4-hours chart of BNB/USD.

Overall, binance coin is placed nicely in an uptrend above $13.80. As long as BNB is above $13.80, it could rally again above $15.00 and $15.50. If not, it could extend the downside correction towards the $13.20 or $12.80 support levels.

The market data is provided by TradingView.

The post Binance Coin (BNB) Could Rally Again Versus USD, BTC and ETH appeared first on Ethereum World News.

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Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, TRON, Bitcoin SV: Price Analysis, March 11

Industry experts are forecasting wider adoption of cryptocurrencies and the emergence of another bull market.

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.

Binance CEO Changpeng Zhao recently tweeted that sooner or later, almost everyone will be directly or indirectly connected to cryptocurrencies. This is a strong statement. If proven correct, the market capitalization of the digital currencies will shoot up, well above the current level of $133 billion.

Zhao said that he is certain of a bull market in cryptocurrencies, but is not sure when it will start. We believe that most major coins have started the bottoming process and will soon start a new uptrend.

The successful completion of a recent ICO by the crypto unit of South Korea’s largest internet conglomerate Kakao Corp shows that the demand for ICOs is gradually returning. Similarly, Binance had also completed a couple of ICOs in record time and is planning to introduce more tokens that have solid use cases.

Investment management company Invesco has launched a blockchain exchange-traded fund (ETF) on the London Stock Exchange (LSEG) that will track 48 companies involved with blockchain technology.

After launching the world’s first multi-crypto-based exchange-traded product (ETP) in November of last year, Switzerland’s largest stock exchange SIX will launch another ETP for the XRP token. These new launches show that the demand for the cryptocurrencies is likely to increase in the future and the companies are gearing up to benefit from it. So, what should traders do? Let’s take a look at the charts.

BTC/USD

The up move in Bitcoin (BTC) is not convincing. It could not even challenge the psychological resistance of $4,000 on March 9. This shows a lack of conviction among the bulls. Currently, the price has pulled back to the 20-day EMA, which is an important support. If the bulls want to retain the advantage, they should defend the 20-day EMA. A bounce from this support will again try to break out of $4,000 and reach the critical overhead resistance of $4,255.

BTC/USD

If the BTC/USD pair sustains above $4,255, it will complete a double bottom pattern, that has a target objective of $5,273.91. Traders can add long positions on a breakout and close (UTC time frame) above $4,255. Until then, maintain the stops on the existing long positions below $3,236.09.  

On the downside, there is support at the 20-day EMA and below it at the uptrend line. If this support also cracks, the next one is at the 50-day SMA. Below this support, we anticipate a quick slide to the final support zone of $3,355–$3,236.09. The lackluster price action points to range bound action in the short-term. We will know the boundaries of the range within the next few days.

ETH/USD

Ethereum (ETH) has broken down of the 20-day EMA. If it fails to find support at $134.50, a slide to the 50-day SMA is probable. Below this, the digital currency can correct to the critical support at $116.30. Therefore, traders can keep the stop loss on the remaining long positions at $125.

ETH/USD

If the ETH/USD pair bounces off $134.50 or the 50-day SMA, it will again try to break out of $144.78. The pair is likely to pick up momentum after the price sustains above $144.78.

However, with both the moving averages flattening out and the RSI close to the center, the short term points to a consolidation. The resistance of the probable range is at $144.78 but the support is yet to be established. We should get a clear picture within this week.

XRP/USD

Ripple (XRP) is range bound between $0.27795– $0.33108. The flat moving averages and the RSI close to 50 suggest that the consolidation is likely to continue for a few more days.

XRP/USD

A breakout of the range will propel the XRP/USD pair toward the resistance line of the descending channel. If the price sustains above the channel, it will indicate a likely change in trend.

However, if the bears sink the digital currency below $0.27795, it can drop to the yearly low of $0.24508. Therefore, traders can retain the stops on their long positions below $0.27795.

LTC/USD

Litecoin (LTC) again broke out of $56.910 on March 9, but the bulls could not build up on the gains. Once again, the price has corrected back below $56.910, which is a negative sign.

LTC/USD

The bears will try to sink the LTC/USD pair to the 20-day EMA, which is a critical support. If the pair bounces off this support, it will again try to break out of $60. The target to watch on the upside is $65.5610. The uptrending moving averages and the RSI in the positive territory show that the path of least resistance is to the upside.

However, the negative divergence developing on the RSI is worrying us. Hence, we suggest traders keep their stops on the remaining long positions at $50. If the bears force the digital currency below the 20-day EMA, it can slide to $47.2460 and below it to the 50-day SMA.

EOS/USD

EOS has turned down from the overhead resistance of $3.8723. The failure of the bulls to scale above $3.8723 is a negative sign. Currently, the price has corrected to the 20-day EMA. If the support holds, the bulls will attempt to push the digital currency above $3.8723 once again.

EOS/USD

Nonetheless, if the 20-day EMA breaks down, the EOS/USD pair can drop to the next support of $3.1534. The 50-day SMA is also close to this level, hence, we expect the bulls to defend it.

A failure to bounce off the support at the 50-day SMA can result in a fall to $2.1733. Therefore, traders can keep the stops on the remaining long positions at $3.10.

BCH/USD

Bitcoin Cash (BCH) continues to trade inside the tight range of $120–$140. This shows a balance between demand and supply. The flat moving averages and the RSI close to the center point to further consolidation.

BCH/USD

A breakout or breakdown of this range will start a new trend in the BCH/USD pair. Above $140, a rally to the next overhead zone of $157.95 to $163.89 is likely. If this zone is also crossed, the up move can extend to $175. Therefore, traders can maintain the stops on the long positions at $116. If the bears sink the pair below $120, it can decline to $105 and below that a fall to the yearly low of $73.50 is probable.

BNB/USD

Binance Coin (BNB) has been consolidating since breaking out of $15 on March 7. We had suggested to book profits on 40 percent of the long positions in our previous analysis. Traders got that opportunity on March 8 and 9 when price scaled well above $15.

BNB/USD

After the sharp rally from the bottom, the BNB/USD pair has formed a pennant. A breakout of this is likely to resume the uptrend, with targets of $18 and higher. Therefore, traders can hold the remaining long positions with the stop loss at breakeven.

A breakdown below the pennant will start a deeper correction. Though the pattern target of the breakdown is $9, we anticipate a strong support at the 20-day EMA. But if this level fails to hold, a fall to the 50-day SMA is probable.

XLM/USD

Stellar (XLM) triggered our buy recommended given in the previous analysis. It should now move up to the next overhead resistance of $0.13427050.

XLM/USD

The moving averages have completed a bullish crossover, which is a bullish sign. The 20-day EMA has started to trend up and the RSI has risen close to the overbought territory. This shows that the bulls have the advantage in the near term. The XLM/USD pair might face some resistance at $0.1160, but we expect this to be crossed.

Our bullish view will be negated if the price turns down from one of the overhead resistances and plummets below $0.0820. Therefore, traders can keep the stop loss at $0.08. We shall soon raise the stops as the price moves northwards.

TRX/USD

Tron (TRX) is struggling to bounce off the critical support at $0.02306493. This shows a lack of buyers even at these levels. The 20-day EMA is sloping down and the RSI is languishing in the negative zone, which suggests that bears are in command.

TRX/USD

A breakdown below $0.02306493 will find some support at $0.02094452. But if this level also breaks, the slide can deepen to $0.01830, which is a critical support.

On the other hand, if the TRX/USD pair recovers sharply from the current levels and rises above both the moving averages, it will again try to breakout of $0.02815521. We might propose long positions after the pair decisively breaks out of the current range. Until then, we remain neutral on the digital currency.

BSV/USD

Bitcoin SV has been consolidating between $71.412 and $65.031 for the past five days. Both the moving averages have flattened out and the RSI is also close to the midpoint. This shows a balance between the bulls and the bears.

BSV/USD

The next move in the BSV/USD pair will start after the price escapes from this range. Above $71.412, a rally to $102.580 is probable with a minor resistance at $77.035. Hence, we retain the buy recommendation given in the previous analysis.

On the contrary, if the pair dips below the support zone of $65.031–$58, it can retest the low at $38.528. Therefore, traders should wait for a confirmed breakout and then initiate long positions.

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

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Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, TRON, Bitcoin SV: Price Analysis, March 04

While the current fall could dampen sentiment, the overall structure of major cryptocurrencies remains unchanged.

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.

The market is cycling between periods of low volatility and high volatility. After a week of small range days, the range expanded on Monday and crypto markets decided to move southwards. What caused this sudden fall? There are no specific fundamental reasons that might have led to this selloff.

One of the possibilities might be the strengthening dollar that has risen in the past four days. Gold also fell sharply due to this on Friday. This shows that traders are keen to take on risk. Traders like to stay with assets that are showing a strong uptrend. The United States markets have been on a roll for the past ten weeks. Positive news on the trade deal between the U.S. and China might have encouraged some short-term traders to book profits in cryptocurrencies and shift over to the stock markets.

Though the current fall will dampen sentiment, it does not change the overall structure of most major cryptocurrencies. They remain in a bottoming formation and will continue to be volatile during the period.

BTC/USD

After six days of small ranges, the range has expanded to the downside, which is a negative sign. Bitcoin (BTC) has broken down of the 20-day EMA and is currently close to the 50-day SMA. The downtrend line is also located at this level. This line had previously acted as a strong resistance; hence, it will now act as a strong support.

BTC

A breakdown of this critical support can plummet the BTC/USD pair to the next support at $3,355 and if this also fails to hold, the final support on the downside is $3,236.09. A new yearly low will resume the downtrend.

Conversely, if the price finds support at current levels, it will again try to rally above $3,900 and reach $4,255. A breakout of this critical resistance will suggest that a bottom has been put in place. The next few days are critical. Traders can maintain the stop loss on the long positions below $3,236.09.

ETH/USD

Ethereum (ETH) has broken down of the 20-day EMA and has declined to the 50-day SMA. The failure to bounce off the 20-day EMA is a negative sign. If the 50-day SMA also fails to stem the fall, the next support on the downside is $116.30. Therefore, traders should keep a stop loss of $125 on the remaining long positions.

ETH

Contrary to our assumption, if the ETH/USD pair rebounds from the current levels, it will try to rise above $145 and reach the critical overhead resistance of $167.32. The pair will pick up momentum above this level. Currently, both the moving averages are flat and the RSI is just below 50. This points to range bound trading in the short-term.

XRP/USD

Ripple (XRP) has turned down below the moving averages. It has again slipped to the support at $0.2950. This is the fourth time the price has fallen to this level. Repeated retests of the support level increase the probability of a breakdown. If this support cracks, the next level to watch on the downside is $0.27795. The bulls have held this support twice, once in mid-December of last year and again at the end of January 2019. Hence, this is a critical level. A breakdown of this can plummet the digital currency to the yearly low of $0.24508.

XRP

If buyers’ step in at the current levels, the XRP/USD pair can move up to $0.33108. A breakout and close above this level is likely to propel the pair to the resistance line of the descending channel, close to $0.40. Hence, traders should protect their long positions with a stop below $0.27795.

EOS/USD

EOS has broken below the 20-day EMA and has plummeted to the next support of $3.2081. If the bulls fail to defend this level, the drop can stretch to the 50-day SMA. The traders can keep their stops at $2.90 on the remaining long positions.

EOS

A bounce from the current levels will again try to push the EOS/USD pair above the overhead resistance of $3.8723. The 20-day EMA is flattening out and the RSI has also dipped close to the neutral zone. This shows a balance between demand and supply.

LTC/USD

Litecoin (LTC) rose above $47.2460 on March 2 but the bulls could not sustain the higher levels. The price has again corrected to the 20-day EMA, forming a head and shoulders pattern, that will complete on a breakdown and close below the neckline. The breakdown has a pattern target of $32.00, however, $40.4240, the 50-day SMA and the uptrend line can act as important supports.

LTC

The 20-day EMA is flattening out and the RSI has also declined to the midpoint. This shows that the bulls are losing their edge in the short-term. But if the LTC/USD pair rebounds either from the 20-day EMA or from the neckline, it will again try to scale above $50 and prolong its recovery. The traders can keep a stop loss of $40 on the remaining long position.

BCH/USD

Bitcoin Cash (BCH) could not break out of the 20-day EMA for the past five days, which attracted selling. The price has broken down of the 50-day SMA, which is a bearish sign. It can now drop to $116.79 and below it to $105. Traders who are long can keep their stop loss at $116.

BCH

The BCH/USD pair will prove us wrong if it reverses direction from the current levels and breaks out of $140. Until then, every rise is likely to attract selling. The RSI is in the negative zone but the moving averages are still flat, which points to a consolidation.

BNB/USD

Binance Coin (BNB) closed above $12 on March 2, thereby triggering our buy suggested in the previous analysis. However, the close above $12 attracted profit booking by the bulls that dragged the price back into the critical support zone of $12 to $10.

BNB

Both the moving averages are sloping up and the RSI is in the positive zone, which shows that the trend is up. The first support on the downside is the 20-day EMA and below it $9.2450296. If these support levels fail to hold, the slide can extend to the 50-day SMA.

Conversely, if the BNB/USD pair bounces off the 20-day EMA and breaks out of $12, it can move up to $15 and above it to $18. Therefore, traders who have entered long positions can keep their stop loss at $9.

XLM/USD

Stellar (XLM) tried to break out of the overhead resistance at $0.09285498 on March 3 but failed. Currently, the price has turned around and broken below the moving averages. A break below $0.08184371 can result in a retest of the yearly low.

XLM

The 20-day EMA is flat and the 50-day SMA is sloping down. The RSI has also slipped below 50, which shows that the sellers are at an advantage.

Our bearish view will be invalidated if the XLM/USD pair turns around from the current levels and breaks out of $0.10. The pair has been a huge underperformer as it did not participate in the recent pullback. This shows a lack of interest among the market participants to own this cryptocurrency. We will wait for a trend reversal before recommending a trade in it.

TRX/USD

Tron (TRX) has broken down of the support at $0.02306493 and is close to the next support at $0.02113440. If this level breaks, the next support to watch on the downside is  $0.01830000. The moving averages have completed a bearish crossover, which is a negative sign.

TRX

If the TRX/USD pair holds above $0.01830, it is likely to extend its stay in the range and might offer us an opportunity to trade it. Nonetheless, if the bulls fail to defend the support at $0.01830, a deeper fall towards the yearly low is probable.

Our bearish view will be invalidated if the price turns around from the current levels and rallies above both the moving averages and $0.02815521.

BSV/USD

Bitcoin SV failed to hold the moving averages. It is now threatening to break below the support at $65.031. This shows a lack of buying interest at higher levels.

BSV

The immediate support zone on the downside is between $60 and $58. If the BSV/USD pair plunges below this zone, a fall to the lifetime low at $38.528 is probable. With both the moving averages sloping down and the RSI in the negative territory, the path of least resistance is to the downside.

Contrary to our expectation, if the digital currency holds above the supports, it will again attempt to rise above $77.035. If successful, it can move up to $102.580 and above it to $123.980. Therefore, we might suggest long positions if the price sustains above $78. Until then, we do not find any reliable buy setups on it.

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

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Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Tron, Bitcoin SV: Price Analysis, March 6

Crypto companies are continuing to onboard talent from traditional industries, while crypto market fundamentals improve.

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.

Crypto companies are attracting talent from traditional industries. This shows that firms in the crypto space are preparing for the long-term, undeterred by the current bear market. Similarly, traditional companies are attempting gain footing in the crypto space. Ernst & Young, one of the Big Four auditing firms, has come up with a tool for calculating taxes on crypto holdings. The software will cater to both institutional and retail clients.

Japan is among the leaders in adopting cryptocurrencies. Major Japanese banks are gearing up towards improving blockchain and cryptocurrency services to their clients. The government of Argentina has also taken the plunge as it plans to invest in crypto projects along with Binance labs and crypto exchange LatamEx.

Rumors are rife about Starbucks — which is one of the founding partners of Bakkt — allowing the use of crypto-based payments shortly after an equity deal. If this becomes a reality, it will increase the exposure of cryptocurrencies.

Every day the crypto markets are treated to improved fundamentals. It is only a matter of time before the price of cryptocurrencies responds positively. What do the charts forecast? Let’s find out.

BTC/USD

Bitcoin (BTC) held on to the 50-day SMA support and climbed above the 20-day EMA on March 5. This shows buying at lower levels, which is a positive sign. If the bulls continue the buying pressure and breakout of $3,900, a retest of $4,255 is probable.

Currently, both the moving averages are flat and the RSI is marginally positive. This points to a consolidation in the near term.

BTC/USD

If the BTC/USD pair breaks out of $4,255, it will complete a double bottom pattern, that has a pattern target of $5,273.91. Though there is a stiff resistance at $4,914.11, we expect it to be crossed.

On the contrary, if the bears defend the overhead resistances and sink the digital currency below the 50-day SMA, a drop to $3,355.00 is probable. If this level breaks, the critical resistance is at the yearly low of $3,236.09. For now, traders can retain the stops on their long positions below $3,236.09. We shall soon recommend trailing the stop loss higher.

ETH/USD

Ethereum (ETH) took support at the 50-day SMA and bounced off it. Currently, it is facing resistance at $144.78. Both the moving averages are flat and the RSI is just above the midpoint. This points to a consolidation in the near term.

ETH/USD

The next up move will start on a break out above $145. The target of this move is $167.32. If this level is scaled, the ETH/USD pair will pick up momentum. Hence, traders can continue to hold the remaining long positions with a stop loss of $125.

If the price reverses direction from the current level and breaks down of the 50-day SMA, it can plummet to $116.30, which is a major support. Below this level, the trend will turn in favor of the bears.

XRP/USD

Ripple (XRP) has largely been range bound between $0.33108 and $0.27795 from Jan. 11. Repeated attempts to break out of the overhead resistance have failed to sustain above it. Both the moving averages are flat and the RSI is also at the midpoint. This points to a balance between demand and supply.  

XRP/USD

The next directional move on the XRP/USD pair will start either on a breakout of $0.33108 or on a breakdown of $0.27795. A breakout of $0.33108 can propel it to the resistance line of the descending channel. On the other hand, a drop below $0.27795 can sink the pair to the yearly low of $0.24508. Therefore, traders can keep the stop loss on the long positions below $0.27795.

EOS/USD

EOS successfully completed a retest of the breakout level on March 4 and bounced from it. It is currently at the overhead resistance of $3.8723. If the bulls push the price above this level, a rally to $4.4930 is probable.

EOS/USD

Both the moving averages have curled up and the RSI has jumped into positive territory, which shows that the bulls have the upper hand.

However, if the EOS/USD pair fails to break out of $3.8723 and plunges below $3.1534, it will indicate weakness. Therefore, traders can trail the stop loss on the remaining long positions to $3.10.

LTC/USD

Litecoin (LTC) took support at the 20-day EMA and rallied on March 5. It broke above the overhead resistance of $53.40 and invalidated the developing bearish head and shoulders pattern. Failure of a bearish pattern is a bullish sign.

LTC/USD

The LTC/USD pair is currently hitting against the $56.91 resistance. If the price scales above this level, it can move up to $61.5680 and above it to $65.5610. Traders can trail their long positions with a stop loss of $44. If the price closes (UTC time frame) above $56.91, stops can be raised to $50. As partial profits have been booked earlier, traders can trail the stop with enough wiggle room, but protect the paper profits.

Our bullish view will be negated if the digital currency turns down from the current levels and plunges below the 20-day EMA. The only bearish development on the chart is the negative divergence on the RSI.

BCH/USD

Bitcoin Cash (BCH) has been trading between $120 and $140 for the past few days. The fall below the 50-day SMA on March 4 was arrested at $120.47 and was followed by a strong recovery the next day.

BCH/USD

If the BCH/USD pair breaks out of $140, it is likely to pick up momentum and rally to the next overhead zone of $157.95 to $163.89.

A failure to break out of $140 will keep the pair range bound for a few more days. The bears will gain an upper hand if the price drops below $120. For now, traders can hold their long positions with the stop loss at $116.

BNB/USD

Binance Coin (BNB) soared above the overhead resistance of $12 on Feb. 5. It is now likely to rally to $15 and above it to $18. Traders can trail the stops on their long positions to $10. We shall raise the stops again within the next couple of days.

BNB/USD

The trend remains up, with both moving averages sloping up and the RSI close to overbought levels. After the sharp rise on March 5, the BNB/USD pair might consolidate for a few days before resuming its up move.

Our bullish view will be invalidated if the price turns down from the current level and slips below the 20-day EMA.

XLM/USD

Stellar (XLM) has been consolidating in a tight range of $0.08184371 to $0.09285498 for the past ten days. The 20-day EMA is flat while the 50-day SMA is flattening out. This shows a balance between the buyers and the sellers.

XLM/USD

A breakout of $0.10 will tilt the balance in favor of the bulls, while a breakdown of $0.08184371 will indicate weakness.

Above $0.10, we anticipate a move to the next overhead resistance of $0.13427050. Hence, traders can buy above $0.10 and keep a stop loss of $0.08.

Conversely, below $0.08184371, a retest of the lows is probable. The XLM/USD pair will resume its downtrend if it slides to a new yearly low.

TRX/USD

Though Tron (TRX) dipped below $0.02306493 on March 4, buying at lower levels helped it recover and close (UTC time frame) above the support.

TRX/USD

The bears are trying to defend the 20-day EMA, which is sloping down. If the TRX/USD pair turns down from current levels, it will again try to break below $0.02306493.

On the other hand, if the price rises above the 20-day EMA, it will move up to the 50-day SMA, which is flat, indicating consolidation. The next major move will start after a breakout of $0.02815521 or on a breakdown below $0.02306493. Until then, volatile range bound action will continue. We shall wait for a breakout and close above $0.02815521 before suggesting any long positions.

BSV/USD

Though Bitcoin SV dipped below $65.031 on March 4, the bears could not take advantage of the opportunity and break below the $60–$58 support zone. This shows demand at lower levels.

BSV/USD

Currently, the BSV/USD pair is trying to scale the moving averages. If successful, the bulls will try to break out of the overhead resistance at $77.035 that opens the door for a rally to $102.580 and above it to $123.980. Therefore, traders can buy above $78 and keep a stop loss of $58.

Our bullish view will be invalidated if the bears defend the overhead resistance and sink the digital currency below $58.

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

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Binance Coin (BNB) Prices Can Double to $26 By End of Q2 2019

Latest Binance Coin (BNB) News

So exactly why is Binance coin (BNB) pumping? Well, everything has to do with the ambitions of the “humble” but strategic Changpeng Zhao. The maverick founder of Binance—who is categorical that the exchange is not for sale, led a BNB transition from Ethereum as it was an ERC 20 token to its own blockchain, the Binance Chain.

Read: Here is What is Driving Binance Coin (BNB) in the Crypto Markets

It has been two weeks since the world’s largest exchange by adjusted volumes announced their Binance DEX test-net saying amongst other attractive properties; the decentralized exchange will be liquid and bear some resemblance with the otherwise easy to use Binance user interface. Zhao was quoted saying:

“The user interface on Binance DEX is similar to the interface of Binance:  Fast, secure and user-friendly.  At this stage, we simply want to develop the best DEX as fast as possible. We are still figuring out some functions as we go and will be asking traders for feedback on the test-net, in order to iterate and improve on it quickly.”

Two weeks later and with Binance Coin (BNB) as a settling and native coin in use, Binance DEX promises to be transforming. Not only will users have full control of their wallets but the network is designed with speed and capacity in mind.

Also Read: Controversial Craig Wright Has the Technology to Make ZCash and Monero Completely Traceable

Block time is one second—fastest blockchain and most importantly, it can handle the same trade volumes as centralized version. Add that to the requirement of crowd funding projects to accept BNB and it’s easy to see why fundamentals as well as candlestick technical considerations favor Binance Coin (BNB) bulls.

BNB/USD Price Analysis

Binance Coin (BNB)

Clearly, Binance Coin (BNB) is crashing records. Not only did it print new highs against Bitcoin (BTC), but the coin is now up 40.4 percent in the last week. That means, it is up to eighth flipping Stellar Lumens (XLM) and Tron (TRX). Gauging from candlestick arrangement and streams of supportive fundamentals, it is likely that BNB will edge higher. We cannot discount chances of BNB replacing BCH and Litecoin in the top five.

Binance Coin (BNB)

Trend and Candlestick Formation: Bullish, Bull Trend Resumption

For a clearer outlook, the weekly chart paints a rosy picture. Here we can easily note that the trajectory is northwards as BNB bulls bounce off the 78.6 percent Fibonacci retracement level of the coin’s high low.

As bull momentum pick up, we can only project that prices will edge higher towards the coin’s ATM’s at $26—double the current market valuation. This projection is in line with Fibonacci retracement dictates. If that is the case, every low should be a buying opportunity with cross hairs first at $20—the 23.6 percent Fibonacci retracement level.

Volumes: Bullish

Of note in the weekly chart is week ending Feb 10 bull bar. The high volume confirming bar did reveal demand in lower time frames because prices surged reversing losses of week ending Nov 25. Accompanying this upswing was a spike in participation—5 million against 2.5 million.

Encouragingly, BNB trade volumes have been on the rise since after the completion of the three-bar bull reversal pattern of week ending Dec 23.  Now, as long as BNB transactional volumes exceed averages, it is likely that BNB will pump towards $20 and later $26.

All charts courtesy of Trading View

This is not Investment Advice. Do your research.

The post Binance Coin (BNB) Prices Can Double to $26 By End of Q2 2019 appeared first on Ethereum World News.

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Binance Coin (BNB) Surging Above $12 Whereas BTC and ETH Tumble

Binance Coin (BNB) rallied recently above the $12.00 and $12.50 resistances against the US Dollar. BNB is gaining bullish momentum while bitcoin, Ethereum, ripple and litecoin extended losses.

Key Talking Points

  • Binance coin is outpacing major cryptocurrencies as it rallied above $12.00 against the US Dollar.
  • There was a break above a crucial bearish trend line with resistance at $11.50 on the 4-hours chart of BNB/USD (Data feed via Binance, price calculated by Trading view).
  • BNB price broke the last swing high and it could now trade towards $12.80 and $13.00.

Binance Coin Price Analysis (BNB to USD)

In the past few days, we saw a lot of bearish moves in bitcoin, ripple, Ethereum, litecoin, bitcoin cash, eos and other cryptocurrencies. However, Binance coin (BNB) remained in a bullish zone and extended gains above the $12.00 resistance.

Binance Coin Price Analysis BNB Chart

Looking at the chart, the price corrected lower recently and tested the $11.00-11.10 support area. A new base was formed and later the price rallied above the $11.50 and $12.00 resistance levels. There was a close above the $12.00 level and the 100 simple moving average (4-hours).

Besides, there was a break above a crucial bearish trend line with resistance at $11.50 on the 4-hours chart of BNB/USD. The pair broke the last swing high at $12.10 and surged above the 1.236 Fib extension level of the last decline from the $12.16 high to $11.08 low.

The price traded to a new yearly high above $12.50 and it seems like the price could continue to move higher in the coming sessions. The next stop for buyers could be $12.80.

The 1.618 Fib extension level of the last decline from the $12.16 high to $11.08 low is near the $12.83 to act as a resistance. The next important resistance is at $13.00, above which the price could test $13.20.

Overall, binance coin is surging higher and it remains in a solid uptrend towards $13.00. If BNB price corrects lower, the previous resistances near the $12.10 and $12.00 levels are likely to act as supports in the near term.

The market data is provided by TradingView.

The post Binance Coin (BNB) Surging Above $12 Whereas BTC and ETH Tumble appeared first on Ethereum World News.

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Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, Binance Coin, Bitcoin SV: Price Analysis, March 1

Institutional investors are using low valuations — a product of the extended bear market — to invest and enter the crypto space.

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.

Social media giant Facebook plans to leverage its massive user base of more than 2.7 billion for the success of its crypto project that aims to integrate Instagram, Facebook Messenger and WhatsApp under one canopy.

According to the New York Times’ sources, the cryptocurrency will be a stablecoin that will be pegged to the fiat currencies of three nations. This project will introduce a digital currency to a massive audience and might get the users interested in this niche space, which will be positive for the other cryptocurrencies.

While retail investors are skeptical about entering the crypto space due to the prolonged bear market, the institutional players are using the current low valuations across the board to invest.

Bloomberg reported that Singapore’s Government Investment Corporation (GIC), with more than $100 billion in assets, was one of the investors in the Series E equity financing round of crypto exchange Coinbase. The entry of such large investors is good news for the future of the crypto space.

Any new technology takes time to gain widespread acceptance. As the spectrum of use cases for the blockchain technology increases, they will evolve into something larger, said Christine Moy, executive director and head of the blockchain center of excellence at JPMorgan Chase.

BTC/USD

Bitcoin (BTC) again took support at the downtrend line on Feb. 27, which is a positive sign. As long as the price remains above both of the moving averages, the probability of a gradual rise to $4,255 will be high.

Currently, the 50-day SMA is flat, but the 20-day EMA has started to trend up, and the RSI is also in the positive territory, which suggests that the bulls have the upper hand in the short term.

BTC

A break out of $4,255 will complete a double bottom pattern and is likely to attract short covering. The minimum target objective of this setup is $5,273.91. Therefore, we suggest traders buy the remaining position on a close (UTC time frame) above $4,255.

For now, the traders can retain the stops on their long positions just below the current yearly low of $3236.09.

However, if the bulls fail to push the BTC/USD pair above $3,900, it can slump to the 50-day SMA, and below it to $3,355. The downtrend will resume if the price dives below the support zone of $3,236.09–$3,355.

ETH/USD

Ethereum (ETH) dipped below the 20-day EMA on Feb. 27, but managed to close (UTC time frame) above it. This shows demand at lower levels. However, unless the bulls carry the price above $145 quickly, the bears will again try to break down the support.

ETH

If the ETH/USD pair breaks down of the 20-day EMA, the fall can extend to the 50-day SMA, and below it to $116.3. This is a strong support and it might hold, otherwise the fall can reach $102.49. The traders can hold the remaining long positions with the stop loss at $125.

On the other hand, if the price scales above $145, a rally to $167.32 will be probable. If this resistance is also crossed, the cryptocurrency will pick up momentum.

XRP/USD

Ripple (XRP) took support close to $0.2950 on Feb. 27. This is the third time in the past five days that the bulls have held on to this level. If they succeed in pushing the price above $0.33108, it will be a bullish sign. The next level to watch on the upside is $0.40. The traders can keep the stops on the long positions below $0.27795.

XRP

Conversely, if the XRP/USD pair fails to break out of $0.33108, it can remain range bound between $0.27795 and $0.33108 for the next few days. The flattening moving averages and the RSI close to the midpoint point to a consolidation.

The trend will turn negative if the bears sink the pair below the critical support zone of $0.24508–$0.27795.

EOS/USD

EOS is sandwiched between the 20-day EMA and $3.8723. It has to scale above the overhead resistance to pick up momentum.

Both of the moving averages are gradually trending up, and the RSI is in the positive zone, which shows that the path of least resistance is to the upside. Therefore, traders can keep a stop loss of $2.90 on the remaining long positions. The target objective is $4.4930, and the next one above it is $5.5.

EOS

If the bears defend the overhead resistance and plunge the EOS/USD pair below the 20-day EMA and $3.2081, the trend will turn negative. A break below the 50-day EMA can result in a dive to the critical support of $2.1733. We should get a strong directional move within the next few days.

LTC/USD

Litecoin (LTC) has found buying support at the 20-day EMA and has moved up to the overhead resistance at $47.2460. If the bulls succeed in sustaining above this resistance, a rally to $53.4, and above it to $60, will be possible. Therefore, traders can keep a stop loss of $40 on the remaining long positions.

LTC

The 20-day EMA has started to turn up, the 50-day SMA is also sloping up, and the RSI is in the positive territory, which shows that the bulls have the upper hand.

Our bullish view will be invalidated if the LTC/USD pair reverses direction from the current levels and breaks below the 20-day EMA and $40.

BCH/USD

Bitcoin Cash (BCH) has held the 50-day SMA support twice in the past five days but is yet to bounce off sharply from it.

BCH

If the bulls push the price above $140, a rally to $160 will be likely. A break out of $160 will indicate bullishness that can carry the BCH/USD pair to $177, and above it to $220. Hence, the traders holding long positions can keep the stop loss at $116.

Our bullish view will be negated if the price slips below the 50-day SMA and plummets below $105. Currently, both of the moving averages are flat and the RSI is at the midpoint, both of which point to a consolidation in the near term.

XLM/USD

Stellar (XLM) has been trading close to the 20-day EMA for the past four days. While it is yet to break out of $0.10, the positive sign is that it has not broken down of the downtrend line.

XLM

A break out of $0.10 will indicate strength that can push the price towards the overhead resistance of $0.13427050. If the sentiment across the sector turns positive, traders can attempt this trade with a stop loss of $0.08.

Nonetheless, if the XLM/USD pair turns down from the current levels and plunges below the downtrend line and the support at $0.07256747, the downtrend will resume.

TRX/USD

Tron (TRX) has been stuck between the downtrend line and the horizontal support at $0.0230 for the past four days. The failure of the bulls to scale above the downtrend line shows a lack of demand at these levels.

TRX

A break out of the downtrend line and the 50-day SMA will propel the price back to the overhead resistance of $0.02815521. A break out of this level can start a new uptrend. Hence, we shall wait for the price to sustain above the range and then suggest long positions in it.

However, if the TRX/USD pair breaks down of the support at $0.0230, it can slide to $0.02113440, and below it to $0.01830000. We expect volatility to pick up in the next few days.

BNB/USD

Binance Coin (BNB) is in an uptrend and is looking strong. It has bounced off the 20-day EMA and is on its way to breaking out of the overhead resistance at $12. If successful, it is likely to pick up momentum and rally to $15, and above that to $18.

We like the way the 20-day EMA provided a strong support. Because of that, we suggest long positions above $12, with a stop loss of $9.

BNB

Conversely, if the BNB/USD pair fails to break out of the critical overhead resistance of $12, it might remain range bound between $10 and $12 for the next few days.

The support levels to watch on the downside are the 20-day EMA, and if that breaks, the next support is at the 50-day SMA. If both of the moving averages fail to provide support, the trend will turn down.

BSV/USD

Bitcoin SV has been holding the 20-day EMA for the past two days, but it is yet to rebound from it.

BSV

If the BSV/USD pair bounces off the current levels and moves above $77.035, it will turn positive and can rally to $90, and above it to $102.58. Therefore, we suggest long positions above $78 with a target objective of $102.580.

On the other hand, if the bears sink the digital currency below the 20-day EMA and $65.031, it will retest the support zone of $58–$60.

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