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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.

Posted on

Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Tron, Bitcoin SV: Price Analysis, March 4

Prices slumped on Monday, and there are no specific fundamental reasons that may have led to the selloff.

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.

The market tends to cycle between periods of low and high volatility. After a week of small-price-range action, the range expanded on Monday and the crypto markets decided to move southwards. What has 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, which has risen in the past four days. Gold also fell sharply on Friday, as a consequence.

This shows that traders are keen to take on risk. Traders like to keep the 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.

Although 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-range trading, the range has expanded to the downside, which is a negative sign. Bitcoin (BTC) has broken below 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, so it will now act as a strong support.

A breakdown of this critical support can plummet the BTC/USD pair to the next support at $3,355, and if it 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 the current levels, it will again try to rally above $3,900 and reach $4,255. A break out 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 their 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 $116.3. Therefore, traders should keep a stop loss of $125 on the remaining long positions.

On the other hand, 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 of the moving averages are flat, and the RSI is just below the 50 levels. 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 a 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 in end-January of 2019.

Hence, this is a critical level. A breakdown of this could plummet the digital currency to the yearly low of $0.24508.

If the 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. The traders should protect their long positions with a stop loss below $0.27795.

EOS/USD

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

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) had risen 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, which will complete on a breakdown and close below the neckline.

The potential breakdown has a pattern target of $32.00. However, $40.4240, the 50-day SMA and the uptrend line can act as important supports.

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 holding long positions can keep their stop loss at $116.

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 will be likely to attract selling. The RSI is in the negative zone, but the moving averages are still flat, which points to a likely 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 have dragged the price back into the critical support zone of $10–$12.

Both of 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 could 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.

The 20-day EMA is flat, and the 50-day SMA is sloping down. The RSI has also slipped below the 50 levels, 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 coin. We shall 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.

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

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

BSV/USD

Bitcoin SV (BSV) has 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.

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

Conversely, if the cryptocurrency 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 cannot find any reliable buy setups.

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

Posted on

Top 5 Crypto Performers Overview: Binance Coin, Bitcoin SV, Ripple, Dash, Litecoin

Against the backdrop of numerous positive headlines, February was the first month to see Bitcoin’s price grow since July of 2018.

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.

The crypto markets are showing signs of bottoming out. Bitcoin gained about 11 percent in February, its first month to close positively since July of 2018.

Bitcoin is not the only cryptocurrency being favored by the market participants.  A number of other major coins are also looking strong and have recovered from their lows.

The news of Facebook exploring options to launch its own cryptocurrency has been received as bullish. The new Samsung smartphone, Galaxy S10 will have a crypto wallet for Bitcoin and Ethereum. All these efforts will introduce cryptocurrencies to a global audience.

The fundamentals in the crypto industry have been improving for the past few months. The institutional players are recognizing these developments and have started making forays into the space.

We expect greater participation from the institutions after the cryptocurrency market at large confirms a bottom. Hence, the traders can start initiating positions in the coins that have bottomed out or are displaying a good risk to reward ratio.

BNB/USD

Binance Launchpad platform has concluded a successful sale of the Fetch.AI (FET) token within 22 seconds on Feb. 25. This shows that there is market demand for what Binance Launchpad does.

A few weeks back, a similarly successful sale of Tron-based BitTorrent token (BTT) had completed in 15–18 minutes. In order to speed up the launch of its mainnet, Binance is handing out rewards for testing the company’s new decentralized trading platform Binance DEX. Binance Coin (BNB) has benefitted from these positive headlines.

Can the price move higher? Let’s find out.

BNB/USD

The BNB/USD pair has risen by almost 174 percent from its early-December lows. After the recent pullback, the price has covered a lot of ground and now remains only about 56 percent below its lifetime highs. This clearly shows a strong demand for the digital currency.

Currently, the price is close to the critical overhead resistance of $12. A break out of this can carry the pair towards the next target of $15, and above it to $18.

On the other hand, if the bulls fail to scale and sustain above $12, a few days of consolidation or a minor dip cannot be ruled out. While short-term traders can buy on a breakout above $12, the long-term players can wait for a minor dip to enter.

BSV/USD

Bitcoin SV (BSV) was the second-best performer of the week. It rallied sharply on Feb. 25 and 26 as the cryptocurrency got listed by payment processor CoinGate, as well as by a Turkish exchange Vebitcoin.

Increased support has been welcomed by market participants. Can the price move up, or will it give up all the recent gains?

BSV/USD

The BSV/USD pair has a short trading history. It is currently trying to bottom out closer to the support at $65.031. Multiple attempts to sink the pair have failed, as selling dries up at lower levels. This is a positive sign that shows that buyers are keen to invest on the dips.

If the price closes (UTC time frame) above $71.412, it will be likely to rally to $123.980.

Conversely, if the pair breaks down of the immediate support at $58.072, a drop to the low at $38.528 will become probable.

LTC/USD

The Litecoin (LTC) Foundation has partnered with premier kickboxing league Glory to make LTC the official cryptocurrency for Glory’s various events and its online merchandise platform. With this, Litecoin aims to reach out to the large fanbase of the league.

LTC/USD

The LTC/USD pair has not given up much ground after hitting the overhead resistance of $47.2460 three weeks ago. This shows that the bulls are in no urgency to book profits after the rally from the lows.

If the price breaks out and sustains above $47.2460, it will indicate a probable bottom. The 20-day EMA has flattened out, and the RSI has also climbed close to the midpoint. This shows that the bulls are at an advantage in the near term.

Traders can buy on a weekly close (UTC time frame) above $47.2460, and keep a stop loss below $29 initially. This can be trailed higher to $40 within the next several days. The target to watch on the upside is $69, and above it $94.

However, if the digital currency fails to sustain above $47.2460, it can again turn down and correct to $40, and below it to $29.

XRP/USD

Ripple (XRP) got listed on the Coinbase Pro trading platform on Feb. 25. On Feb. 28, Coinbase announced support for the digital currency on its retail platform and mobile apps.

Nasdaq is also planning to list a separate index tracking the price of Ripple. The Thai Securities and Exchange Commission has included Ripple in the list of tokens suitable for initial coin offerings.

While some believed that Ripple had to offer Coinbase a certain incentive or money to get listed, the company has denied it. Although there was a lot of talk about JPM, the recently announced stablecoin by JPMorgan Chase, a research by Binance has concluded that it will not be a threat to Ripple’s XRP token in the near term.

XRP/USD

The XRP/USD pair continues to trade inside a descending channel. It is currently attempting to rise after taking support at $0.27795. However, it is facing selling close to the 20-week EMA.

A rise above this could push the price to the resistance line of the descending channel near $0.40. A breakout and close (UTC time frame) above the channel will indicate a change in trend.

On the other hand, if the bulls fail to break out of the 20-week EMA, the bears will again try to break down of $0.27795. A drop below the support zone of $0.24508 –$0.27795 will resume the downtrend.

DASH/USD

Dash has been a popular mode of transaction in Venezuela and continues to gain ground. Church’s Chicken Venezuela fast food chain accepts the coin in 10 of their 13 locations. It also keeps launching promotional activities in collaboration with Dash to attract more people towards using the cryptocurrency.

Brazilian crypto exchange CoinBene has integrated Dash, giving the coin an opportunity to expand its presence in the country.

DASH/USD

The DASH/USD pair has been trying to form a base for the past few weeks. The price is currently stuck between $56.214 on the downside, and $103.261 on the upside. The 20-week EMA is also just above the range. Hence, a breakout of the 20-week EMA is likely to attract buying that can propel the price towards $175, and above it to $224.

On the other hand, if the price fails to break out of the resistance of the range, it will consolidate for a few more weeks.

The trend will turn negative if the bears push the price below the support of $56.214. We could not find any reliable trade setups at the current levels.

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

Posted on

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.

Posted on

Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, TRON, Binance Coin, Bitcoin SV: Price Analysis, February 27

While the crypto space has been in a ruthless bear market, banks and exchanges have started launching crypto services.

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 said that investors lapped up the Fetch.AI (FET) token on Feb. 25 in a record time of 22 seconds. This is a bullish sign. It shows that the investor appetite for initial coin offerings (ICOs) is returning.

Though the crypto space has been in a crushing bear market for more than a year, it has not stopped leading banks and stock market exchanges from launching new crypto services. Swiss bank Julius Baer, having about $381.6 billion in assets under management, plans to launch crypto asset services for its clients.

In a survey by KPMG, 48 percent of C-level executives believe that blockchain will change the way they do business in the next three years and 41 percent of participants said they are likely to use the technology. A number of such surveys have shown a growing interest in the blockchain technology by various industries.

However, these changes have still not been able to gain a stamp of approval from legendary investor Warren Buffet. In a recent interview with CNBC, he said that Bitcoin was “a delusion, basically.”

BTC/USD

Bitcoin (BTC) has been struggling to rebound from the 20-day EMA for the past two days. This shows nervousness among buyers. A failure to move up will attract liquidation of long positions by the bulls and initiation of short positions by the bears. A breakdown below the downtrend line and the 50-day SMA can result in a drop to the critical support zone of $3,355– $3,236.09. If the digital currency drops to a new yearly low, the downtrend will resume. Therefore, traders can keep the stops on their long positions just below the current yearly low of $3236.09.

BTC/USD

Conversely, if the BTC/USD pair moves up from the current level, a rally to the top of the range at $4,255 is probable. A break out of this resistance will signal a double bottom formation, which has a minimum target objective of $5,273.91. When the price sustains above $4,255, a number of traders waiting on the sidelines for a confirmation of a bottom are likely to jump onboard.

Both the moving averages are flat and the RSI is close to 50, which points to a range formation in the near term. Hence, the traders should wait for a breakout above $4,255 to add the remaining position.

ETH/USD

Ethereum (ETH) has stabilized at the 20-day EMA. The bulls are trying to push the prices higher but have not been able to clear $145 for the past two days. A breakout of this level will be bullish resulting in a move towards $167.32. Therefore, traders can hold the remaining long positions with a stop loss of $125.

ETH/USD

On the contrary, a breakdown of the 20-day EMA can sink the ETH/USD pair to the 50-day SMA and below it to $116.30. Both the moving averages are flat and the RSI is in the positive zone. This points to a consolidation in the short-term until the bulls breakout of the resistance or the bears breakdown of the supports.

XRP/USD

Ripple (XRP) bounced sharply on Feb. 25 and even managed to move above $0.33108 but it could not sustain the higher levels. The bears again pushed prices back towards the moving averages on Feb. 26.

XRP/USD

Currently, the bulls are trying to defend the moving averages. If successful, they will again attempt to break out of $0.33108. The XRP/USD pair will pick up momentum on a close above $0.33108. The target levels to watch on the upside are $0.40.

On the other hand, if the price slides below the moving averages again, it can drop to the next support at $0.27795. If this level breaks, the fall can extend to the yearly low of $0.24508. Traders can protect their long positions with the stop placed just below $0.27795.

EOS/USD

EOS is attempting to hold and bounce off the 20-day EMA for the past three days. If successful, it will again try to break out of the overhead resistance at $3.8723. Above this level, the move can extend to $4.4930. This time, we anticipate the bulls to scale the resistance and surge towards $6. Hence, we suggest traders hold their remaining long positions with the stop loss at $2.90.

EOS/USD

The EOS/USD pair will weaken if it declines below the 20-day EMA and the $3.2081 support zone. If this zone breaks, the next support is at the 50-day SMA. As both the moving averages are flattening out and the RSI is marginally in the positive, a consolidation for a few days is probable.

LTC/USD

Litecoin (LTC) has been holding above the 20-day EMA for the past two days but has not been able to clear the overhead resistance at $47.2460. The 20-day EMA is flattening out and the RSI is close to the midpoint. This points to a consolidation in the short-term.

LTC/USD

The recovery will resume if the bulls push the price above $47.2460. The next level to watch on the upside is $53 and above it $60. Therefore, we suggest traders hold their remaining long positions with the stop loss at $40.

Our view will be invalidated if the LTC/USD pair breaks down of the 20-day EMA and plunges to the 50-day SMA.

BCH/USD

Bitcoin Cash (BCH) has been holding the support at the moving averages for the past two days. However, it has not been able to rise and sustain above the 20-day EMA.

BCH/USD

A breakdown of the moving averages can attract selling that can plummet the price to $105 and if this level also fails to hold, the next support is way lower at $73.50. Therefore, traders having long positions can maintain the stop loss at $116.

On the upside, the BCH/USD pair will pick up momentum above $160. The flat moving averages and RSI at the center indicates a range formation in the near term.

XLM/USD

Stellar (XLM) has been trading above the downtrend line for the past two days but the price has not rebounded strongly from the support. This shows a lack of demand at the current levels.

XLM/USD

The XLM/USD pair will show strength if the bulls push it above $0.10. After scaling above this level, it can rally to the overhead resistance of $0.13427050. If the overall sentiment remains positive, we might suggest a short-term trade in it.

But if the digital currency turns down from the current level and plunges below the downtrend line, it can slide $0.0750 and below it to the low of $0.07256747.

TRX/USD

The daily range in Tron (TRX) has been shrinking for the past two days. The small range shows that the bulls and the bears are waiting for a clear direction before taking a decisive action.

TRX/USD

The price is largely stuck between $0.0230 on the downside and $0.02815521 on the upside. If the bulls scale above the overhead resistance and sustain it, a new uptrend is probable. Hence, we might suggest long positions again after the TRX/USD pair breaks out of the range convincingly.

On the other hand, a breakdown of the $0.0230 level will attract selling that can drag the price lower to $0.02113440 and below it to $0.01830000.

BNB/USD

The bulls are attempting to hold the 20-day EMA, while the bears are defending the $10–$12 zone. If Binance Coin (BNB) sustains the rebound, it is likely to consolidate there.

BNB/USD

Both the moving averages are still sloping up and the RSI is in positive territory. This shows that the trend is up. In an uptrend, as long as the strong support holds, pullbacks should be viewed as buying opportunity.

If the BNB/USD pair sustains above $10, we might suggest taking a small position in it. A remaining position can be added above $12. Our bullish view will be invalidated if the bears sink the pair below the 20-day EMA. The next level to watch on the downside is the 50-day SMA.

BSV/USD

Bitcoin SV rallied for the past two days and scaled above the overhead resistance of $71.412. However, the bulls are finding it difficult to sustain these levels. The bears are trying to sink the price back below the 50-day SMA.

BSV/USD

The BSV/USD pair is at a critical level. If it plunges below both the moving averages, it can drop to the support zone of $58 to $60. On the other hand, if the bulls defend $71.412, the pair can move up to $90 and above it to $102.58.

The moving averages are on the verge of a bullish crossover, which is a positive sign. Traders can buy above $78 and keep a stop loss of $60. The target objective is $102. However, if the price struggles to break out of $90, partial profits can be booked and the stops on the rest can be trailed higher to breakeven. As the risk to reward ratio is not attractive, traders can keep the position size at about 40 percent of usual.

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

Posted on

Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 31

It is the last day of a very tough year for crypto traders. While 2018 started on an upbeat note, it is ending with uncertainty.

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.

It is the last day of a very tough year for crypto traders. While 2018 started on an upbeat note, it is ending with uncertainty. Traders and analysts are divided on whether cryptocurrencies have bottomed out. This, in a way, is good, because markets are cautious and excesses have been removed.

There are a number of events in 2019 that could turn crypto markets around. All eyes will be on institutional investors because their involvement is needed to propel markets to the next level. Even in the wake of a crushing bear market, crypto traders are looking to invest in virtual currencies. 40 percent of participants in a  recent Chinese survey showed interest in investing in cryptocurrencies in the future. Similar surveys in the United States, Germany and the United Kingdom have all projected favorable demand for cryptocurrencies.

We are bullish on digital currencies for 2019, however, we believe that it will be a gradual move higher and expectations should be muted. Trade safe so that we are around to reap the benefits when the next vertical run happens. Are there any tradeable setups at current levels? Let’s find out.  

BTC/USD

Bitcoin is struggling to breakout of the 20-day EMA that has turned flat. Failure to break out will attract selling that will pick up momentum below $3,598.99. The downtrend will resume on a breakdown of the Dec. 15 low. The falling 50-day SMA confirms that the long-term trend is still down.

BTC/USDThe BTC/USD pair will show signs of a probable reversal if it breaks out of the neckline of the developing inverse head and shoulders pattern. The 50-day SMA and the horizontal resistance at $4,255 are all located close by. This makes it a critical level to watch on the upside.

The breakout of the neckline has a pattern target of $5,500. Though there is a minor resistance at $4,914.11, we expect it to be crossed. Short-term traders can wait for a close above $4,255 to buy. The stops can be kept just below $3,550.

XRP/USD

Ripple is facing a stiff resistance at the 50-day SMA. If the bulls fail to scale above this resistance quickly, a drop to $0.33108 is probable.

XRP/USDThe XRP/USD pair will weaken below $0.33108 and can plunge to the next support at $0.286. If this support also breaks, a retest of $0.24508 will be in the cards.

Both the moving averages are flattening out, which points to a likely consolidation in the near-term. The digital currency will turn positive in the short-term if the price sustains above $0.40. Such a move can result in a rally to the resistance line of the descending channel at about $0.48.

We can expect a new uptrend if the bulls breakout and close (UTC time frame) above the channel. In such a case, the rally can extend to $0.56, $0.62 and $0.7644.

ETH/USD

The pullback in Ethereum stalled at $153 on Dec. 29 while managing to stay above $136 for the past two days.

ETH/USDBoth the moving averages are on the verge of a bullish crossover, which suggests that the short-term trend is changing. We expect the bulls to again attempt to break out of $167.32.

Contrary to our expectation, if the ETH/USD pair turns down from the current levels and drops below $116.3, it can fall to $100 and below that to $83. We suggest traders wait for a new buy setup to form before buying it.

BCH/USD

Bitcoin Cash is trading inside a descending channel. Currently, the bulls are attempting to keep the price above the 20-day EMA.

BCH/USDA quick breakout of the channel will turn it into a bullish flag, which has a pattern target of $355, with a minor resistance at $307.1. Short-term traders can benefit from this move by being on the long side of the markets.

However, if the bears fail to breakout of the channel and the 50-day SMA, the BCH/USD pair can again turn down to the bottom of the channel. A break below the channel can lead to a drop to the low at $73.50.

EOS/USD

The bulls have not been able to carry EOS much above the 20-day EMA. This shows a lack of buyers at higher levels. The 20-day EMA is more or less flat and the RSI is close to 50. This increases the probability of a consolidation in the near-term.

EOS/USDA break of the $2.3093–$2.1733 support zone will sink the  EOS/USD pair to the low of $1.55. A break of the lows will resume the downtrend. On the upside, a breakout and close above the 50-day SMA will be a positive development that can result in a rally to $3.8723. Currently, we do not see any reliable buy setups, hence, we are not suggesting a trade in it.

XLM/USD

The bulls are struggling to push Stellar above the 20-day EMA. The 50-day SMA is turning down, which confirms the long-term downtrend. In the short-term, the RSI has fallen back below 50 and the 20-day SMA is flat, which suggests a probable consolidation. However, if the price slides below $0.11024826, it can retest the lows.  

XLM/USDOn the upside, a break above the 20-day EMA will again face resistance at $0.13427050. The XLM/USD pair will show signs of a possible reversal on a breakout and close above $0.13427050. However, it has been an underperformer, hence, we shall wait for a new uptrend to start before suggesting a trade in it.

LTC/USD

The recovery in Litecoin is facing a stiff resistance at the 50-day SMA. The bulls have not been able to sustain above it since Nov. 6, so a breakout and close above the 50-day SMA will signal strength.

LTC/USDThe bullish inverse head and shoulders pattern will complete on a breakout of $36.428. The pattern target of a breakout of the neckline is $49.756. Therefore, traders can initiate long positions on a close (UTC time frame) above $36.428. As the long-term trend is still down, traders can maintain a position size of only about 40 percent of usual.

If the LTC/USD pair turns down from current levels, it can slip back to $28.067 and if this support breaks, a retest of the lows is probable. The downtrend will resume on a break below $23.10.

BSV/USD

The bulls attempted to rebound from close to the bottom of the range on Dec. 28 but the pullback fizzled near $100.

BSV/USDCurrently, the bears are attempting to break down of the range. If successful, the BSV/USD pair can dip to $65.031 and if this support also breaks, the fall can extend to $38.528.

However, if the bulls defend the bottom of the range, the digital currency might remain range bound for a few more days. We shall turn positive above $123.98 or on a strong rebound from $80.352. Until then, we suggest traders remain on the sidelines.

TRX/USD

TRON is finding support at $0.0183 and is facing resistance at $0.022. A breakout of $0.022 can result in a rally to $0.0246 and above it to $0.02815521.

TRX/USDWe have been positive on the TRX/USD pair for the past few days because it has bounced sharply from the lows and has sustained the higher levels. The bullish crossover of the moving averages also suggests that the bulls are in command.

Our positive view will be invalidated if the support at $0.0183 breaks. Therefore, traders who went long closer to $0.02, on our recommendation, should keep a stop just below $0.018. Below $0.0183, the digital currency can slide to $0.016 and $0.014.

ADA/USD

Cardano has stayed above the 20-day EMA for the past three days. The 20-day EMA is gradually turning up and the RSI is in positive territory, which shows a marginal advantage to the bulls.

ADA/USDThe bulls are currently trying to break out of the neckline of the inverse head and shoulders pattern. If successful, the cryptocurrency can rally to the pattern target of $0.066. There is a minor resistance at $0.060105, but we expect this level to be crossed.

Conversely, if the ADA/USD pair turns down from current levels and breaks below $0.036815, it can retest the lows. We expect a decisive move within the next 3–4 days.

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

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eToro Will Not Support BSV. Offers 92$ per Token as Refund

Bitcoin SV, The Bitcoin Cash fork promoted by Craig Wright does not seem to have what it takes to earn eToro’s credibility or approval to be included as one of the cryptocurrencies able to be traded on its platform.

According to an announcement published on its official website, the popular social trading platform explains that users will receive $92 for every token they had at the moment of the hard fork:

“Although we are not obligated to support forks, we are happy to announce that we decided to credit eToro clients who held long (BUY) non-leveraged positions on November 15, 2018 …

We are in the process of crediting relevant users accounts with the dollar value of Bitcoin Cash SV coins at the price of USD 92 multiplied by the number of Bitcoin Cash units held at the time of the fork. The price was determined by the price of Bitcoin Cash SV available to eToro at the time the credit was processed by us”.

Of the two chains that emerged after the Bitcoin Cash split, Bitcoin SV was discarded by eToro while Bitcoin Cash ABC gained the platform’s approval because it could remain the dominant chain in the sad episode known as the “BCH Hash Wars.”

The decision did not come as a surprise to the community as in most cases BCHABC was chosen by most trading platforms and exchanges as the “real” BCH, while in cases where BSV support was provided, the token was listed in parallel with the ABC version.

eToro provided no further explanation of why they decided not to support BSV. Despite having several dozen assets and cryptocurrencies, the platform simply commented that it was “not obligated to support forks.” Mati Greenspan explains that the reason why they don’t deliver BSV tokens and make a fiat refund instead is because it “would be very difficult to set up as we (eToro) have not yet been able to add BCHSV to the platform.”

Currently, the ABC version of Bitcoin Cash has a value of USD 170, with a 10.7% drop in the last 7 days. On the other hand, Bitcoin Satoshi’s Vision has a value of 92.38$ according to Coinmarketcap data.

The post eToro Will Not Support BSV. Offers 92$ per Token as Refund appeared first on Ethereum World News.

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Markets Take Renewed Downturn, Cryptos Hit By Strong Losses Across The Board

Markets have taken a renewed plunge, with virtually all of the top 100 cryptocurrencies in the red today.

Friday, Dec. 28 — markets have taken a renewed plunge, with virtually all of the top 100 cryptocurrencies in the red and many high market cap alts seeing losses of between 5 and 12 percent, as data from Coin360 shows.

Market visualization

Market visualization by Coin360

Fourth-largest cryptocurrency Bitcoin Cash (BCH) has led the downturn, seeing a steep 12.15 percent loss on the day to trade at $126. Today marks a low-point on the alt’s 7-day chart, at the start of which it was trading over $220.

Bitcoin Cash 7-day price chart

Bitcoin Cash 7-day price chart. Source: Cointelegraph’s Bitcoin Cash Price Index

Bitcoin (BTC) has seen a more moderate loss of around 4 percent on the day, and is trading at $3,605 to press time. Having hit intra-week levels as high as around $4,230 on Dec. 23, the top coin’s renewed downturn have all but reversed recent gains and Bitcoin is back trading close to its value mid-December.

Bitcoin’s losses remain a mild 2.4 percent on the week and 3.6 percent on the month.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index.

Second-largest crypto by market cap Ripple (XRP) is down over 5 percent on the day, according to Cointelegraph’s Ripple Price Index. Notwithstanding an intraweek spike to $0.45 on Dec. 23, Ripple has mostly been trading range bound between $0.35 – $0.39. The alt has today come close to the price point it held on Dec. 21 — weekly losses are at a mild 1 percent; on the month, the Ripple is down over 4 percent.

Ripple 7-day price chart

Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index.

Ethereum (ETH), ranked third by market cap, is down over 7 percent and trading at $115 at press time. Following intra-week highs of over $150, the alt has virtually come full circle on the week, reversing recent growth.

Ethereum’s 7-day price chart

Ethereum’s 7-day price chart. Source: Cointelegraph’s Ethereum Price Index

Among the top ten coins on CoinMarketCap, Bitcoin SV (BSV) has shed close to 11 percent on the day to trade at $83.20. EOS (EOS), Stellar (XLM) and Litecoin (LTC) have all shed 6-7 percent on the day.

Among the top twenty, Ethereum Classic (ETC) and Nem (XEM) are down the most, shedding 8.3 and 9.2 percent at $4.82 and $0.06 respectively.  Dash (DASH), Cardano (ADA) and Tron (TRX) are all down over 7 percent — the strongest 24-hour performer is IOTA (MIOTA), which is down a milder 3.8 percent on the day at $0.31.

Total market capitalization of all cryptocurrencies is at around $120.4 billion as of press time — down from an intraweek high of over $146.5 billion on Dec. 24.

7-day chart of total market capitalization of all cryptocurrencies

7-day chart of total market capitalization of all cryptocurrencies from CoinMarketCap