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Bitcoin, Ripple, Ethereum, Stellar, EOS, Bitcoin Cash, Litecoin, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 14

While total market cap threatens to break below $100 billion, new research shows that the amount of crypto users doubled by Q3 2018. Does this signal a recovery in the future?

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.

A lot of crypto investors have lost a staggering amount of money this year. The total market capitalization of all cryptocurrencies is threatening to break down of the $100 billion mark. Unlike the traditional assets, there is no set standard to arrive at a fair value for cryptocurrencies. Various experts have proposed many different methods to determine the valuation.

One of the most popular Bitcoin advocates and a co-founder of Fundstrat Global Advisors, Thomas Lee, believes that the fair value of Bitcoin is between $13,800 and $14,800. He expects the price to rebound if the asset class is widely embraced and its user adoption increases.

After this year’s bear market, one would expect the hitherto existing owners to abandon the asset class. However, a study by the Cambridge Centre for Alternative Finance shows that the number of ID-verified cryptocurrency users has doubled in the first three quarters of this year — from 18 million to 35 million. Does this signal a likely recovery in the near future?

Let’s look at the charts and try to forecast whether the price will fall or rise from the current levels.

BTC/USD

A weak bounce on a retest of either a low or a critical support is a bearish indication. It implies that the price has still not reached a level that is attractive to buyers. Today, Bitcoin easily slipped through the yearly low of $3,329.05 and made a new one of $3,307.02.

BTC/USD

If the BTC/USD pair bounces off the current support and breaks out of the 20-day EMA, it will be a positive sign. Such a move can result in a pullback to $5,000.

However, if the bounce from the current level turns out weak, a break down of $3,307.02 is probable. The next support on the downside is $3,000. Though $3,000–$3,500 is a strong support zone, we are yet to see any signs of buying. If $3,000 breaks, it might invite further selling, sinking the digital currency further to $2,416.52.

The only bullish indication is the positive divergence on the RSI, but if the price doesn’t move up, it can turn into a bear trap.

XRP/USD

Ripple has been holding the support of $0.28600 for the past seven days, but it has not been able to achieve a meaningful bounce.

XRP/USD

Failure to rebound has increased the probability of a breakdown of the support. Both moving averages are falling, and the RSI is in the oversold zone. This suggests that the sellers have an upper hand.

The next level to watch on the downside is $0.24508. If this support also fails to hold, the downtrend can extend to $0.15. The first sign of a likely change in trend will be a break out of the 20-day EMA. Above this level, the XRP/USD pair might see some buying and can reach $0.4.

Traders who are long can hold their positions. We shall take a call on whether to keep holding or to sell in our next analysis.

ETH/USD

Ethereum has been clinging to the bottom of the $83–$102.5 range. This shows a lack of buying even at the current levels. The failure to move up in the past three days is likely to attract sellers.

ETH/USD

A breakdown and close (UTC time frame) below $83 will resume the downtrend and can plunge the ETH/USD pair to the next support of $66.

The first sign of an end to the incessant selling will be a sustained rally above the 20-day EMA. Until then, every pullback will be sold into.

XLM/USD

After a two-day pullback, Stellar has resumed its downtrend and has made a new yearly low. The down sloping moving averages and the RSI in the oversold zone confirm that the path of least resistance is to the downside.

XLM/USD

The next support on the downside is at $0.08. However, in a strong downtrend it is difficult to call a bottom as the price continues to slice through support levels with ease.

The first sign of a trend reversal will be when the XLM/USD pair sustains above the 20-day EMA. In such a case the pullback can extend to $0.184. Traders should stay away from long positions until the price confirms a bottom.

EOS/USD

Though EOS continues to be in a downtrend, it has been trading close to the overhead resistance of $2.1733 for the past five days. This shows some buying in the pair. However, if the bulls don’t scale the resistance quickly, it will invite selling.

EOS/USD

A break out of $2.1733 can reach the 20-day EMA, which is likely to act as a stiff resistance. The recovery will gain traction if the bulls sustain above the 20-day EMA.

On the downside, a break down of the Dec. 7 low of $1.55 will resume the downtrend that can reach $1.2. The traders should wait for the EOS/USD pair to signal a trend reversal before attempting a trade in it.

BCH/USD

After trading in a tight range for five days, Bitcoin Cash resumed its downtrend and made a new low on Dec. 18.

BCH/USD

Both moving averages are trending down and the RSI is deep in the oversold territory, confirming a downtrend. There has not been a meaningful pullback since the downtrend gained momentum on Nov. 19. This suggests that the bears are in complete control. The BCH/USD pair can now correct to $72.39.

The traders should wait for the decline to end and a trend reversal to be signaled before establishing a long position in the pair.

LTC/USD

Litecoin has slipped back to the low of $23.1. Though the bulls are defending the support level, if they don’t manage to push the price above $29.349 within the next few days, a new low is likely. The next lower support is at $20.

LTC/USD

The downtrending moving averages and the RSI in the oversold zone show that the bears are in complete control. A small ray of hope for a bottom formation at the current levels is the positive divergence on the RSI. However, for that, the LTC/USD pair will have to sustain above the 20-day EMA. Until then, we suggest traders remain on the sidelines.

BSV/USD

After trading inside the range since Nov. 26, Bitcoin SV broke below the support of $80.352 on Dec. 13. Unless the bulls quickly reverse and scale the previous support-turned-resistance of $80.352, the sellers are likely to pounce on it. The next lower target is a retest of the Nov. 23 low of $38.528, with a likely minor support at $57.

BSV/USD

The first sign of strength will be when the BSV/USD pair climbs back into the range. Though the digital currency is currently trading way above its lows, it has a short trading history. Hence, we suggest traders wait for a new buy setup to form before buying it.

TRX/USD

TRON continues to trade inside the symmetrical triangle. The bulls are defending the support of the triangle, whereas the bears are not allowing a break out of it.

TRX/USD

The next leg of the move will be decided after a break out or break down from the triangle. A breakout can result in a rally to $0.0183, which is likely to act as a stiff resistance.

On the other hand, if the TRX/USD pair breaks down of the triangle, the downtrend will resume. Though the pattern target of the breakdown is $0.00554133, we expect some support at $0.00844479. The traders should wait for a breakout and close above the triangle to initiate any long positions.

ADA/USD

The failure of Cardano to climb back into the previous range is likely to attract selling. The bears will now attempt to break down of the support at $0.027237 and plunge towards the next support of $0.025954.

ADA/USD

On the other hand, if the ADA/USD pair bounces off the Dec. 7 low, it might remain range bound for a few more days. The first sign of buying will be when the price sustains above $0.035. We can expect the recovery to gain traction if the bulls scale the 20-day EMA and sustain it for three days. Until then, the path of least resistance is to the downside.

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

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Bitcoin, Ripple, Ethereum, Stellar, EOS, Bitcoin Cash, Bitcoin SV, Litecoin, TRON, Cardano: Price Analysis, Dec. 12

The recent slump in markets has provided traders with a good buying opportunity, but a recovery may not come in the form of a dramatic vertical rally.

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.

The market data is provided by the HitBTC exchange.

When markets were rising, the novice traders believed they can never go down, and one must only have the courage and patience to HODL. However, after this year’s nerve-racking correction, most of those same traders now believe that the cryptocurrencies are going to zero. They were wrong on the way up, and they are wrong again on the way down. The fundamentals are getting better and are pointing to a better future.

Mike Novogratz, former hedge fund manager and Goldman Sachs Group Inc. partner said that the markets are sober now, as the speculative mania is gone. He remains bullish and believes that Bitcoin is not going to zero, it is just in a “methadone clinic.”

The most popular twins in the crypto space, Tyler and Cameron Winklevoss, are also undeterred by the current bear market. They have launched a new mobile crypto trading app with various investment features. Their crypto exchange, Gemini plans to enter the Asian crypto space in 2019.

But not everyone is bullish about the future. Harvard University Professor of Economics and Public Policy Kenneth Rogoff believes that the long-term value of Bitcoin is “more likely to be $100 than $100,000,” as reported by The Guardian.

We, however, believe that the current fall is a good buying opportunity, but the traders should not expect a vertical rally. The markets are likely to form a large base before starting a new uptrend.

BTC/USD

Bitcoin is currently trading inside a descending channel. The bulls have been attempting to defend the $3,500 mark for the past three days. A break of this first support will result in a retest of the Dec. 7 low of $3,329.05.

BTC/USD

If the bulls hold $3,500, the BTC/USD pair might pull back to the resistance line of the channel, just below the 20-day EMA. We expect this level to act as a stiff resistance.

Though the moving averages continue to fall, the RSI has been forming a positive divergence for the past few days. This is a bullish sign. If the price climbs above the 20-day EMA, we can expect the pullback to reach the next overhead resistance of $5,000.

A failure to break out of the 20-day EMA, and a plunge below $3,329.05 will test the $3,000 threshold. If this support also breaks, the next support is way lower at $2416.52. However, we expect the leading digital currency to hold the $3,000–$3,500 zone, so we had recommended a buy in our previous analysis.

XRP/USD

Since breaking down of the support at $0.33108, the bulls have been attempting to keep Ripple above the Dec. 7 low of $0.28600.

XRP/USD

A break below $0.286 and the support line of the channel can result in a fall to the Aug. 14 low of $0.24508. If this support breaks, the next support is at $0.15.

If the bulls hold the support and break out of the 20-day EMA, we expect the XRP/USD pair to rally to the 50-day SMA. A sustained move above $0.4 will increase the probability of a rally to the top of the channel at $0.5. Therefore, we suggest traders hold on to their existing long positions.

ETH/USD

Ethereum has been trading in a tight range of $83–$102.5 since breaking down of the previous support of $102.2.

ETH/USD

The RSI has been forming a positive divergence, which increases the possibility of a pullback. On the upside, any recovery attempt will face resistance at $102.5, the 20-day EMA and at $130.5.

If the ETH/USD pair plummets below $83, the downtrend will resume. Its next lower target is $66. The traders can wait for a bullish pattern to develop before entering any positions.

XLM/USD

Stellar is trying to pull back from the lows. It has broken out of the downtrend line, which shows some respite from the incessant selling. The recovery will gain strength if the price breaks out of $0.13427050. On the upside, the 20-day EMA and $0.184 will act as major hurdles.

XLM/USD

On the other hand, if the XLM/USD pair turns down from the overhead resistance and breaks $0.10488320, the downtrend can extend to $0.08. The down sloping moving averages and the RSI in the oversold territory suggest that the downtrend remains. We shall wait for a new buy setup to form before proposing any trades in the pair.

EOS/USD

EOS has broken out of the downtrend line, which suggests that the intensity of the selling has reduced. But the trend remains headed downward, as both moving averages are still falling, and the RSI is in the oversold zone.

EOS/USD

If the bulls break out of the immediate resistance of $2.1733, the pullback can extend to the 20-day EMA, which is likely to act as a stiff resistance. A break above this can carry the EOS/USD pair to $3.8723.

If the next dip doesn’t break the low of $1.55, we can confirm that a bottom is in place. However, if the next dip breaks the Dec. 7 low, the digital currency can fall to $1.2. We suggest traders wait for a reversal pattern to form before entering any long positions.

BCH/USD

Bitcoin Cash dipped below the Dec. 7 low of $94 and made a new year-to-date low on Dec. 11 at $92.13. This indicates a lack of buying even at the current levels.

BCH/USD

Currently, the bulls are attempting to push the price back above $94. If successful, the BCH/USD pair will continue to trade in the range of $92.13–$115.61. Both moving averages are falling, and the RSI is deep in the oversold territory. This confirms that the trend is down with no signs of a reversal yet.

The first sign of buying will be when the bulls break out and close (UTC time frame) above $116. In such a case, the pullback can extend to the 20-day EMA. Though the digital currency has a history of vertical rallies, we suggest traders wait for buying to resume before attempting a trade in it.

BSV/USD

While the other cryptocurrencies are showing signs of bottoming out, Bitcoin SV is facing selling at higher levels.

BSV/USD

For the past five days, the BSV/USD pair has been falling gradually and has reached the bottom of the range. A break below the range can result in a retest of $38.528.

On the other hand, if the bulls bounce from the bottom of the range, we can expect the digital currency to reach the top of the range at $123.98. Trading inside a price range can be volatile, so we shall wait for a break out of the range before recommending a trade in it.

LTC/USD

Litecoin has been consolidating close to the lows for the past five days. Though the price has stayed above the low of $23.1, it has not been able to move up. This shows a lack of buying at higher levels. The trend remains in favor of the bears as long as the price is below the downtrend line.

LTC/USD

A return of buyers will be signaled when the LTC/USD pair sustains above the 20-day EMA. The RSI has formed a bullish divergence, which is a positive sign.

Aggressive traders can wait for the price to close above the 20-day EMA and establish long positions with a short-term target of $40. The stop loss can be placed at $23. The traders should keep the position size at only about 30 percent of usual because it is a countertrend move. If the digital currency slides below $23.1, it can reach $20.

TRX/USD

TRON has formed a symmetrical triangle, which is usually a continuation pattern. However, in some cases it acts as a reversal pattern as well.

TRX/USD

If the bears break below the triangle, the downtrend might resume. The pattern target of such a breakdown is $0.00554133. It has a minor support at $0.00844479, which can attract some buying.

Conversely, if the TRX/USD pair breaks out and closes (UTC time frame) above the triangle, it has a pattern target of $0.02055867. However, we believe $0.0183 will offer a stiff resistance. If the digital currency doesn’t break down or break out of the triangle within the next few days, the pattern will be invalidated.

ADA/USD

Cardano has been consolidating close to the lows. It is currently facing resistance at $0.35. Any recovery is likely to face resistance at the 20-day EMA. If the bulls break out of this resistance, a rally to $0.456 and thereafter to the 50-day SMA is probable.

The RSI is developing a positive divergence, which is a bullish sign. But still, in a downtrend, traders should wait for the price to show an uptick before jumping in to buy because positive divergences turn out to be bear traps.

ADA/USD

If the ADA/USD pair turns down from one of the overhead resistances and slides below $0.027237, the downtrend will resume. The next stop on the downside might be $0.025954. We can’t find any reliable buy setups yet, so we are not recommending a trade in it.

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

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Cardano [ADA] To Survive and Showcase ‘Interest’ in the long Run

Experiencing the current general market uncertainty, many crypto-enthusiasts and traders ask themselves more often which coin will turn as true value in the years to come.

Taking a look at the yearly chart and seeing the not-stopping price decline of the  virtual assets you can easily conclude that 2017 was the year of gold-rush while now technological potential is truly being the base of value comparison. Additionally, if one certain blockchain platform network does find its widespread adoption it does not mean that the native token will be part of the utilization too.

With the much anticipated atomic swap being underway various token’s have their value at risk as there is no necessity of holding on a coin for a longer time. One digital currency that will not be impacted by the last mentioned factor is Cardano and its price/value staking. Opening doors for a way to receive passive income via holding the token on a longer term, will give individuals a reason to go for the leading coin. Likewise bank interest that many use to stack value but with a dose of hype.

Additionally, the same speculative-train from 2017 could pass by again hoisting the prices exponentially, following the event of the cryptocurrencies finding complete usefulness.

Read Also:

Cardano (ADA), Stellar (XLM) See Green as Investors Respond to Coinbase

2 Reasons Cardano (ADA) Could Be Listed on Coinbase Before Stellar (XLM)

The Cardano Foundation recently wiped the dust off its one-month dormant Twitter account to issue a notable announcement, divulging that Cardano’s hierarchy had undergone a sudden shift. As Charles Hoskinson, one of the masterminds behind the Ethereum and Cardano projects alike, put it, “The Babylonian Captivity of Cardano Has Ended.”

Per a public statement issued by the Foundation, Michael Parsons, the former chairman, has stepped down from his role willingly, with this change taking effect immediately.

Weiss – Ratings: According to the recent study, XRP, XLM, ADA, and EOS were rated higher than “B,” meaning that the prestigious risk assessment firm recommends their purchase.

“These are among the few that are beginning to put it all together — the advanced tech and adoption in the real world. They’re not all the way there yet. But they’re making good progress.”

The post Cardano [ADA] To Survive and Showcase ‘Interest’ in the long Run appeared first on Ethereum World News.

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Bitcoin, Ripple, Ethereum, Stellar, Bitcoin Cash, Bitcoin SV, EOS, Litecoin, TRON, Cardano: Price Analysis, Dec. 10

The trade volume of retail investors has been dropping and there is still a lack of participation from traditional investors like investment banks.

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.

November has seen the overall trade volume of retail-focused crypto exchanges drop, while the trade volume of exchanges preferred by larger players has increased instead. After an extended decline, when retail activity drops and institutional activity picks up, a market bottom usually approaches.

However, there is still a lack of participation from traditional investors such as investment banks, pension funds and asset managers. These investors are fairly conservative due to regulatory issues, and are likely to gradually enter the space after the groundwork regarding compliance with regulations and custody solutions has been completed.

In the cryptocurrency market, more than 50 percent of transactions are done through over-the-counter (OTC) trading, and the competition to attract institutional investors is heating up. Coinbase, Poloniex and MV Index Solutions are some of the latest entrants into the lucrative OTC space.

Chart data supports our view that a bottom in crypto markets is near. However, it is difficult to pinpoint the lowest price range. Therefore, investors and traders should start building positions on dips to the $3,000–$3,500 area.

BTC/USD

Bitcoin is attempting to stage a recovery from the Dec. 7 low of $3,329.05. Currently, the pullback is facing resistance at $3,387.33. The bulls haven’t even managed to reach the 20-day EMA after breaking down of the $5,900 line in mid-November. This shows that the sellers are in a hurry to establish short positions on every small pullback.

BTC/USD

Both moving averages are sloping down, and the RSI is near the oversold levels, confirming a strong downtrend. The only silver lining is that a positive divergence is developing on the RSI.

After a two-day pullback, the bears might attempt to resume the downtrend. A break down of $3,329.05 can result in a fall to $3,000, which is an important support. Below this level, the next support is at $2,416.52.

However, we believe that the $3,000–$3,500 zone will offer a strong support. If the $3,329.05 level holds, the BTC/USD pair can rise to the 20-day EMA, close to $4,100.

The next fall — if the price holds above $3,329.05 — can be a buying opportunity. We recommend going long with 50 percent of the usual position size in the $3,000–$3,500 zone. We shall suggest increasing the position after the pair moves in our favor.

XRP/USD

Ripple held the support line of the descending channel on Dec. 7. However, the ensuing bounce could not scale the immediate overhead resistance of $0.33108.

XRP/USD

The bears will try to sink the XRP/USD pair below the channel. If successful, a retest of $0.24508 will be on the cards. The moving averages are falling and the RSI continues to trade close to the oversold zone. This shows that the sellers have an upper hand.

If the bulls defend the zone between $0.24508 and the support line of the channel, the virtual currency might enter into a consolidation. Traders should wait for the trend to change before adding to their existing positions.

ETH/USD

Ethereum continues to be in a strong downtrend. For the past three days, the bulls have failed to sustain above $100, which is close to the previous support-turned-resistance of $102.2. This suggests a lack of buying by the market participants.

ETH/USD

If the ETH/USD pair breaks down of Dec. 7 low of $83, the downtrend will resume. The next stop on the downside is way lower at $66.

On the other hand — if the bulls defend the support — the virtual currency might consolidate for a few days, before starting a new uptrend. Traders should wait for the confirmation of a bottom formation before attempting to buy the coin.

XLM/USD

The pullback in Stellar could not scale the overhead resistance of $0.13427050. The failure of the bulls to rise above the first resistance shows that the supply is outstripping demand.

XLM/USD

If the bears succeed in breaking down of a Dec. 7 low of $0.10488320, the fall can extend to the next support at $0.08. The downward moving averages and the RSI in the oversold zone show that the path of least resistance is to the downside.

Contrary to our opinion, if the bulls defend the Dec. 7 low, the XLM/USD pair might consolidate between $0.10488320 and $0.13427050 for a few days. There are no bullish setups yet, hence, we are not proposing any trades in it.

BCH/USD

Bitcoin Cash is unable to find buying support at higher levels. Though the fall in the past few weeks has been sharp, the pullbacks have been weak and short-lived.

BCH/USD

After trading inside a range for the past three days, the bears are attempting to break down of the support at $94 and resume the downtrend. There is a strong support at $91.78. If the BCH/USD pair stages a recovery from the support zone, a pullback to the 20-day EMA is probable.

We suggest traders wait for the decline to stall and a buy setup to form before turning positive. As there are no bullish setups, we suggest traders remain on the sidelines for a few more days.

BSV/USD

Bitcoin SV has been an outperformer among the top cryptocurrencies in terms of market capitalization. It has been trading inside the range of $80.352–$123.98 since Nov. 26.

BSV/USD

Trading inside the range is likely to remain volatile, without any clear sense of direction. The next decisive move in the BSV/USD pair will happen either on a breakout or on a breakdown from the range.

A breakout will confirm that the buyers have overpowered the sellers and a rally to the pattern target of $167.608 is possible. On the other hand, a breakdown can result in a retest of the bottom. We suggest traders either buy above the range, or if the overall sentiment improves, a trade can be attempted closer to the bottom of the range at $80.

EOS/USD

After a prolonged downtrend, EOS found some buying at the $1.55 level. It has pulled back to the downtrend line, which is acting as a resistance.

EOS/USD

In a strong downtrend, the pullback usually lasts from one to three days. If the EOS/USD pair turns down from the current levels, it can retest the support on the downside at $1.5257–$1.55. If this support breaks, the downtrend will resume.

On the upside, a break out of the downtrend line can result in a relief rally that can extend to the 20-day EMA, which will act as a stiff resistance. The short-term traders can stay on the long side of the trade if the price sustains above the downtrend line. Swing traders, however, should wait for the trend to change before initiating long positions.

LTC/USD

Litecoin has been facing resistance at just below the $28 level for the past three days. A break out of $28 can result in a pullback to the 20-day EMA at $32.

LTC/USD

If the LTC/USD pair fails to scale $28, a retest of a Dec. 7 low of $23.1 is probable. A break down of this can extend the downtrend to the next support at $20.

The moving averages are sloping down, and the RSI is in the oversold zone. This confirms that the trend is still down. Though it is forming a positive divergence, traders should wait for the price to follow through to the upside, before buying it.

TRX/USD

TRON continues to face resistance at the 20-day EMA, which is showing signs of flattening out. The RSI has also been trading close to the 40 levels since Nov. 29. This points to a likely consolidation in the next few days.

TRX/USD

We continue to like the TRX/USD pair because it has not fallen to a new year-to-date low since Nov. 25. A breakout above the overhead resistance of $0.0183 will signal a likely bottom.

Conversely, if the virtual currency turns down from the current levels and breaks down of $0.01089965, it can fall to the next support of $0.00844479. We are waiting for a bullish pattern to develop before suggesting a trade in it.

ADA/USD

Cardano has been facing resistance at the breakdown level for the past three days. If the bulls succeed in sustaining above $0.035, a pullback to the 20-day EMA is probable.

ADA/USD

Though the RSI is still in the oversold zone, it is showing signs of a positive divergence. However, traders should wait for the price to bottom out before buying it.

If the bears defend the overhead resistance or the 20-day EMA, the ADA/USD pair might remain in a range for a few days. On the downside, a break below the Dec. 7 low can result in a fall to $0.025954.

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

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Bitcoin, Ripple, Ethereum, Stellar, Bitcoin Cash, Bitcoin SV, EOS, Litecoin, TRON, Cardano: Price Analysis, Dec. 7

Markets are down following more delays on a Bitcoin ETF decision from the U.S. SEC. Let’s consult the charts and see how top coins are faring.

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 selling in cryptocurrencies dragged the total market capitalization down to about $106 billion on Dec. 7. The crypto market has lost more than 87 percent of its value from the high achieved in late 2017.

The latest leg of selling gained traction on the news that the United States Securities and Exchange Commission (SEC) has delayed its decision on Bitcoin (BTC) exchange-traded funds (ETFs) until Feb. 27 of next year.

Based on the performance of the Directional Movement Index and the Average Directional Index, Bloomberg Intelligence analyst Mike McGlone expects Bitcoin to drop to $1,500.

The fall has scared away most retail investors. Nevertheless, crypto-focused institutional asset manager Morgan Creek Digital believes that its Digital Asset Index Fund — a basket of ten major crypto assets — will offer better returns than the SPX over the next 10 years, starting from Jan. 1, 2019. Morgan Creek Digital is ready to wager a $1 million bet on their forecast.

The bear market has been good for the stablecoin Tether, which continues to climb the ladder in terms of market capitalization. It is now sitting at the sixth position, threatening to break into the top five if the selling continues.

As Bitcoin SV, which has recently hard forked off from Bitcoin Cash (BCH), has a few days of trading behind it, we shall introduce it in our analysis from today onward.

BTC/USD

Bitcoin has plunged to a new year-to-date low, but the decline is still not showing any signs of slowing down. The previous low of $3,620.26 did not offer any support, which demonstrates a lack of buying at the current levels. We expect the $3,000—$3,500 zone to act as a stronger support.

BTC/USD

However, if the BTC/USD pair dips below $3,000, the fall can extend to $2,416.52, which is the pattern target following the break down from the pennant.

The current situation is opposite to last year when traders were expecting the price to skyrocket. Now, most believe that digital currencies are doomed. We believe that the selling has been overdone, and a pullback should be around the corner.

Still, we want to see evidence of strong buying at some support before initiating fresh long positions. Our positions suggested earlier were closed at $3,800 and $3,500.

The lower the cryptocurrency falls, the closer it gets to the bottom. Therefore, we suggest traders be ready to initiate long positions upon the signs of a probable bottom. Unlike on previous occasions, when we had proposed using only a portion of the usual position size, this time we shall recommend using the normal position size. The risk-reward is getting attractive at these levels.

XRP/USD

Ripple (XRP) is still above its year-to-date low, but the price is fast approaching those levels. Currently, the price is at the support line of the descending channel, which is likely to hold.

XRP/USD

A bounce from the current level will face resistance at $0.33108, and above that at the 20-day EMA. Conversely, if the bears break below the support, a retest of $0.24508 is probable.

We continue to like the XRP/USD pair because it has been outperforming a number of top digital currencies. Therefore, we suggest traders hold their long positions. We shall propose adding more when the pair turns around.

ETH/USD

Ethereum plummeted to double digits on Nov. 6, and has not recovered yet. Currently, it is trying to bounce off the support at $83. We expect some buying in this area.

ETH/USD

If the bears maintain their selling pressure, the ETH/USD pair can drop to the next support at $66. The selling has been so intense that the RSI could not even rise above the oversold zone, from the deeply oversold levels.

The first sign of a likely change in trend will be when the price sustains above $100. Until then, it is best to wait and watch. We anticipate a strong pullback within the next few days.

XLM/USD

After a successful defense of $0.184, the bears have renewed their selling, pushing Stellar to new year-to-date lows.

XLM/USD

The next level to watch on the downside is $0.08. Though we anticipate the bulls to offer some buying support at this level, it is difficult to pinpoint the bottom.

The XLM/USD pair will signal a likely bottom when it sustains above the downtrend line. We expect it to consolidate for a few days before starting a new uptrend. The traders should wait for a trend reversal before buying.

BCH/USD

Bitcoin Cash continues its journey southwards. Within three days, the price slumped from an intraday high of $157.58 on Dec. 4 to an intraday low of $104.99 on Dec. 7. Currently, the bears are trying to sustain below the psychological support of $100, while the bulls want to maintain the price in triple digits.

BCH/USD

If the bears succeed in holding the BCH/USD pair below $100, the next support on the downside is $91.78. The RSI has fallen to about 15 levels, which shows that the selling has been overdone and a pullback can start anytime. However, the traders should wait for the decline to end before jumping in. Until then, it is best to remain on the sidelines.

BSV/USD

While the other cryptocurrencies are sliding to new lows, Bitcoin SV is bucking the trend. It is attempting to turn around and move up.

BSV/USD

The BSV/USD pair is currently in a range of $80.352—$123.98. A break out of the range gives it a pattern target of $167.608, with a minor resistance at $150.47.

If the bears defend the overhead resistance at $123.98, the digital currency might consolidate for a few more days. Short-term traders can look for buying opportunities as long as the price stays above $80.352. As the overall sentiment is negative, we suggest traders keep the position size at about 40 percent of usual.

EOS/USD

EOS is under a strong bear attack. The fall has been so severe that the support level of $2 could not even hold for a day. The next support on the downside is $1.5257. However, with this kind of incessant selling, it is difficult to predict where the decline will end.

EOS/USD

When the digital currency makes new lows on a daily basis, the new money sitting on the sidelines doesn’t want to come in. On the contrary, the traders who have been long since higher levels, dump their positions, as they are not able to take the losses. This vicious cycle usually ends in a capitulation.

After an extended decline, the price becomes so attractive that a few aggressive bulls start bottom fishing. We shall wait for signs of buying in the EOS/USD pair before turning positive. Until then, it is best to wait and watch.

LTC/USD

The bears have broken down of another critical support at $28. Litecoin can now slide to $20, where we expect buying to emerge.

LTC/USD

The trend is clearly in favor of the bears, as the bulls are unable to hold the price in a range.

The bulls will try to push the price back into the range, whereas the bears will try to maintain the downward momentum. If the bulls succeed, the LTC/USD pair might consolidate for a few days, before starting a new uptrend. Traders should wait for a new buy setup to form before initiating any new positions.

TRX/USD

TRON has broken down of the immediate support of $0.01339050. Its next support is at the Nov. 25 low of $0.01089965. The moving averages are trending down, and the RSI is in the negative zone, which shows that the sellers have an upper hand.

TRX/USD

However, we like the way the TRX/USD pair has not broken down to new year-to-date lows. This shows that the owners are not keen to sell at the current levels, and the buyers are supporting it just above the recent lows.

If the bulls defend $0.01089965, the digital currency might enter a basing formation. We shall wait for a few days for it to confirm a bottom before suggesting a trade in it.

ADA/USD

The downtrend in Cardano has resumed, as the pair makes new year-to-date lows. The next support on the downside is at $0.025954.

ADA/USD

The falling moving averages and the RSI in the oversold zone will continue to pressure the ADA/USD pair. The first sign of a change in trend will be when the price breaks out of the 20-day EMA and the top of the tight range at $0.45624. Until then, every pullback will be sold into. We suggest traders wait for the trend to reverse before initiating any long positions.

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

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Major Crypto Exchange Coinbase ‘Explores’ Listing XRP, Cardano, EOS, Others

U.S.-based crypto exchange Coinbase “explores” adding support for 31 cryptocurrencies, including major coins such as XRP, EOS, ADA.

Major United States-based crypto exchange Coinbase is “exploring” the possibility of providing trading support for over 31 cryptocurrencies. Potential new additions include Ripple (XRP), EOS and Cardano (ADA), according to a press release published Friday, Dec. 7.

The company has revealed a list of 31 cryptocurrencies, including the aforementioned three, as well as NEO, Tezos (XTZ), and others. Coinbase states that it “will be working with local banks and regulators to add them in as many jurisdictions as possible.”

List of cryptocurrencies Coinbase is considering to add

List of cryptocurrencies Coinbase is considering to add. Source: blog.coinbase.com

Coinbase added that a cryptocurrency being present in the list is not a guarantee that it will ultimately be added, as any coins could face some restrictions or might not be listed at all, after their evaluation is finished:

“Adding new assets requires significant exploratory work from both a technical and compliance standpoint, and we cannot guarantee that all the assets we are evaluating will ultimately be listed for trading. Furthermore, our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet.”

Back in September, Coinbase announced a new listing process that would allow it to add digital assets faster than before. However, the crypto exchange has pointed out that the new procedure only applied to digital assets that were compliant with their local regulations. Thus, certain assets listed by Coinbase might only be available to customers in particular jurisdictions.

In November, the U.S.-based crypto exchange added Ethereum Classic (ETC) and later Zcash (ZEC) trading to its platform.

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Market Mayhem: Bitcoin Sinks Below $3.4K, Ethereum Plummets to Double Digits

Crypto markets have today again taken a major downturn, with virtually all of the major coins by market cap seeing double digit losses — some as high as over 20 percent.

Friday, Dec. 7 — Crypto markets have today again taken a major downturn, with virtually all of the major coins by market cap seeing double digit losses. Some coins are down by over 20 percent, as data from Coin360 shows.

Market visualization

Market visualization by Coin360

Bitcoin (BTC) has taken a steep hit of over 11 percent on its 24-hour chart, and is trading at $3,400 as of press time. Having attempted to reclaim ground above the $4,000 price point in early December — to briefly trade close to $4,300 — the top coin’s recovery has failed to hold, and the asset has seen stepped losses in the days before today’s dizzying tumble.

On the week, Bitcoin is now down by around 20.5 percent; monthly losses are at a severe 47.3 percent.

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 by around 12 percent on the day, trading at almost $0.30 as of press time, according to Cointelegraph’s Ripple Price Index. Ripple’s weekly and monthly charts are also blisteringly red, with losses of around 23.5 and 40 percent respectively.

Ripple 7-day price chart

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

Third-ranked crypto by market cap Ethereum (ETH) has fared even worse, with 24-hour losses pushing 16 percent as of press time. The top altcoin is down to double-digit value, currently trading at $84. On the week, Ethereum down by 31.4 percent; monthly losses are close to 60 percent.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap

Virtually all of the remaining top ten coins on CoinMarketCap are seeing deep red; Stellar (XLM) and Bitcoin Cash (BCH) are both down almost 18 percent, at $0.11 and $102.3 respectively; eighth largest ranked crypto Litecoin (LTC) is down close to 15 percent, trading at $25.3, and EOS (EOS) is the hardest hit, down almost 23 percent on the day at $1.68.

Newly-forked “Bitcoin SV” (BSV) is the only exception among the top ten, soaring 20 percent on the day to trade at around $109, sealing the ranking of 5th largest crypto. With a market cap of around $1.94 billion as of press time, BSV is holding a slim margin ahead of BCH; the latter, ranked 7th, currently has a market cap of about $1.77 billion.

Just yesterday, news broke of a new lawsuit from tech development firm UnitedCorp against Bitmain, Bitcoin.com, Roger Ver, and the Kraken Bitcoin Exchange, which alleges the defendants engaged in manipulation and unfair practices during the immediate aftermath of the BCH-BSV hard fork.

The remaining coins in the top twenty by market cap are all seeing losses of between a 8 and 22 percent range.

IOTA (MIOTA) is down over 16 percent to trade at $0.22: Binance Coin (BNB) is down just under 20 percent at $4.56, and privacy-focused alts Monero (XMR) and ZCash (ZEC) are down 14.5 and 20 percent respectively.

Similar losses have hit Dash (DASH) and Neo (NEO): with the former down 21.7 percent at $61.33, the latter 17.4 percent at $5.85.

Dogecoin (DOGE), ranked 20th, is the “strongest” 24-hour performer, down 2.6 percent at $0.0021.

Total market capitalization of all cryptocurrencies is atca around $107.1 billion as of press time, down around 20 percent since the start of its weekly chart, when it was close to $136 billion.

7-day chart of the total market capitalization of all cryptocurrencies

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

With the markets unremittingly bleak, the United States Securities and Exchange Commission (SEC) has meanwhile yet again postponed its decision on the high-profile Bitcoin (BTC) exchange-traded fund (ETF) from investment firm VanEck and blockchain company SolidX.

A new deadline of the end of February 2019 has now been set; SEC commissioner Hester Peirce — who earned the moniker of “Crypto Mom” for her dissent over the SEC’s decision to reject a Bitcoin ETF proposed by the Winklevoss twins — told investors this week; “Don’t hold your breath” awaiting a BTC ETF approval.

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Bitcoin, Ripple, Ethereum, Stellar, Bitcoin Cash, EOS, Litecoin, Cardano, TRON, Monero: Price Analysis, Dec. 5

While expert opinions over Bitcoin’s future vary, the current bear market has failed to deter investment from large players, showing that interest in the space in alive and well.

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.

Experts are divided over the future behavior of the crypto markets. Mike Kayamori, CEO of Quoine, expects Bitcoin to make new lifetime highs by the end of next year, and believes that the bottom is close to current levels.

On the other hand, Malachi Salcido, head of Wenatchee, Washington-based Salcido Enterprises, expects the situation to “possibly get a little worse before it gets better,” reports Bloomberg. He anticipates markets to bottom out in February of next year.

Though the markets are way below their lifetime highs, it has not deterred investments from large players. The ability of new ventures to raise funding shows that interest in the space is alive and the markets have a bright future.  

In a recently published report, American global management consulting firm A.T. Kearney suggests that Bitcoin will reclaim two-thirds of crypto market capitalization by end of next year. Currently, Bitcoin dominance is about 54 percent. This means that Bitcoin will move up at the expense of altcoins. Investors should avoid buying shady cryptocurrencies and stick to ones with visibility.

BTC/USD

The main trend in Bitcoin is down. For the past two days, the bulls have been trying to defend the trendline of the pennant but have not been able to push prices higher. This shows a lack of buying at higher levels and selling pressure. The moving averages are sloping down and the RSI is close to oversold territory. A breakdown of the pennant will resume the downtrend and has a pattern target of $2,416.52.

BTC/USD

We believe that the BTC/USD pair will witness strong buying in the $3,500–$3,000 zone. Contrary to our opinion, if bears sink prices below $3,000, then the next stop will be $2,416.52.

If the bulls succeed in holding the trendline of the pennant on a closing (UTC time frame) basis and reverse direction, it will indicate strength. The first indication of a trend change will be when the price sustains above the resistance line of the pennant. A breakout of the 20-day EMA will increase the probability of a pullback to the breakdown levels of $5,900.

There is a possibility that the price will remain stuck around current levels for the next few days. If the price moves out of the apex of the triangle, without a breakout or a breakdown, the pennant formation will be invalidated and the digital currency might enter a range.

We should get a clearer picture within the next 3–4 days. Meanwhile, traders can keep their stops on the long positions, as suggested in the previous analysis.

XRP/USD

The bulls have been trying to keep Ripple above the immediate support of $0.33108 for the past two days but they have not been able to secure a strong rebound. This shows that the bears have an upper hand.

XRP/USD

A break below $0.33108 will result in a drop to the Nov. 25 lows of $0.31123. The support line of the descending channel is just below this level. We anticipate strong support in this zone. Contrary to our opinion, if the bears sink the XRP/USD pair below the channel, a retest of $0.24508 is probable.

If the bulls defend the bottom of the channel and rebound sharply, breaking out of the 20-day EMA, it will increase the probability of a rally to the top of the channel at $0.52. Traders can close their long positions if the price sustains below the channel.

ETH/USD

Ethereum has slipped to the bottom of the range. A breakdown of the lows will resume the downtrend and can plunge it to the next lower support at $83.

ETH/USD

If the bulls buy the drop to $100, the ETH/USD pair will attempt to climb to $130.5, where it will face a stiff resistance from the declining 20-day EMA.

A pullback to $167.32 can be expected if the bulls sustain the price above $130.5. Though short-term traders can attempt to go long, positional traders should wait for a new buy setup to form before initiating any long positions.

XLM/USD

With both the moving averages falling and the RSI close to the oversold levels, Stellar is in a clear downtrend.

XLM/USD

The bears successfully defended a retest of the breakdown level at $0.184 and the XLM/USD pair has turned down once again. A breakdown of $0.13427050 will resume the downtrend. The next level to watch on the downside is $0.08.

If the bulls defend the $0.13427050 level, the digital currency might remain range-bound for a few days. We shall turn positive on it if the price sustains above $0.184. Until then, it is best to remain on the sidelines.

BCH/USD

Bitcoin Cash is in a firm bear grip. The price has broken down of the Nov. 25 intraday low of $148.27, resuming the downtrend. The next support on the downside is way lower at $100. However, the RSI has dipped deep into oversold territory, which suggests that a pullback might start much earlier than $100.

BCH/USD

After the sharp drop of the past few days, we anticipate the BCH/USD pair to witness a sharp pullback. The short-term traders can use the opportunity to ride this move higher but, first, the price has to stop falling. Catching a falling knife can be dangerous. Therefore, traders should wait for demand to outweigh supply before entering any fresh positions.

EOS/USD

EOS is on a one-way track. Since breaking down of the $4.493 level, it has been making new year-to-date lows on a regular basis. The downtrend is so strong that the bulls have not been able to sustain the pullback for more than a day.

EOS/USD

The trend will remain in force as long as the bears keep the price below the downtrend line. The first target on the downside is a drop to $2.

However, the RSI has been in the oversold zone since Nov. 19. This shows that selling has been overdone and a pullback can be expected from $2. After such a sharp down move, the EOS/USD pair is likely to enter into a bottoming formation. Traders should wait for a bullish pattern to form before entering any long positions.

LTC/USD

The bulls have been attempting to put a bottom in Litecoin close to the $28 mark. The recovery on the upside stalled at the 20-day EMA, which confirms a strong downtrend.

LTC/USD

A breakdown of $28 will resume the downtrend and can sink the LTC/USD pair to the next support at $20. If the bulls defend the $28 mark, the digital currency might remain range-bound for a few days.

A breakout of $37 will set up a short-term trading opportunity on the long side, with a target objective of $47, which is likely to act as a stiff resistance. Positional traders should wait for a trend reversal to be signaled before entering long positions.

ADA/USD

The main trend in Cardano is down. For the past few days, it has been consolidating in a tight range. If the bears break down of the range, the main trend will reassert itself, with the next support at $0.025954.

ADA/USD

The 20-day EMA is declining and is located just above the top of the range. We anticipate this level to act as a strong resistance on any pullback.

However, if the bulls push prices above the 20-day EMA, the ADA/USD pair can rally to the overhead resistance of $0.060105. Short-term traders can ride this move higher but the positional traders should wait for a new uptrend to start before jumping in.

TRX/USD

Though TRON has not broken out of the 20-day EMA in the past few days, we like the way it has held its support. It remains comfortably above its recent lows.

TRX/USD

The bulls have been holding the TRX/USD pair above $0.0133 level for the past five days, whereas, the bears have been defending the 20-day EMA on the upside.

If the bulls scale the 20-day EMA, a rally to the next overhead resistance of $0.0183 is probable. On the contrary, if the bears sink the virtual currency below $0.0133, a retest of the Nov. 25 low of $0.01089965 is likely. Traders should wait for a bullish setup to form before buying. We expect a breakout or a breakdown within the end of this week.

XMR/USD

The bulls are attempting to defend the low of $53.1 in Monero for the past two days. But they have not been able to secure a bounce, which shows a lack of buying interest. Both the moving averages are sloping down and the RSI is close to the oversold territory, which suggests that the path of least resistance is to the downside.

XMR/USD

If the XMR/USD pair closes (UTC time frame) below the $53 level, the decline can extend to the next support at $40. On the upside, the 20-day EMA will continue to act as a stiff resistance. The traders should wait for the trend to change from down to up before initiating any long positions.

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

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Ripple, NEM & Two Others Launch ‘Blockchain for Europe’ Association

Four major blockchain companies have formed a “Blockchain for Europe” Association in a bid to promote the understanding and proactive regulation of blockchain across the continent.

Four major blockchain companies have formed a “Blockchain for Europe” Association, according to a press release Dec. 5. The association seeks to promote the understanding and proactive regulation of blockchain and other distributed ledger (DLT) technologies across the continent.

The four participant companies are Ripple, the NEM Foundation, Emurgo – which supports commercial ventures based on the Cardano blockchain – and “smart ledger” development firm Fetch.AI. The firms have outlined the Association’s aim as addressing the European Union’s “fragmented” policy debate around blockchain, which they claim is skewed by “inconsistent” information from those outside the emerging sector.

In a bid to improve upon the current state of affairs, the newly-formed association will aim to educate those in EU and member state institutions about the technology’s potential. It will also advocate for future “smart” regulation that will be conducive to innovation and help the continent “shape the global agenda” on blockchain.

On Nov. 27, the Association hosted a Blockchain for Europe Summit at the European Parliament (EP) in Brussels, together with the four largest EP groups: The European People’s Party group (EPP), The Alliance of Liberals and Democrats for Europe (ALDE), European Conservatives and Reformists (ECR), and The Progressive Alliance of Socialists and Democrats (S&D).

The international conference addressed blockchain’s potential across multiple sectors and use cases, including governance, healthcare, transport, trade, identity, financial market infrastructure and tokens/cryptocurrencies.

Earlier this fall, Italy became the most recent EU member state to join another regional industry group, the European Blockchain Partnership, whose members include the U.K., France, Germany, Sweden, the Netherlands and Ireland. The Partnership has declared its aim as being “the establishment of a European Blockchain Services Infrastructure (EBSI) that will support the delivery of cross-border digital public services, with the highest standards of security and privacy.”

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Bitcoin, Ripple, Ethereum, Bitcoin Cash, Stellar, EOS, Litecoin, Cardano, Monero, TRON: Price Analysis, Dec. 3

Top coins are shaky as Bitcoin falls back below the $4,000 mark, but increased institutional interest — like Coinbase’s new OTC desk — could signal a turnaround.

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.

Over-the-counter (OTC) trading desks usually cater to institutional or large individual traders. While retail traders are dumping their holdings in cryptocurrencies, institutional traders are using the opportunity to buy. Higher demand from large traders has encouraged U.S. cryptocurrency exchange Coinbase to start an OTC desk for its selected customers. This shows that it is only a matter of time before the tide turns from down to up.

After a crushing bear market, one expects the volume to dry up due to the lack of buying interest. However, the notional volume of Bitcoin traded this year has already touched the $2.2 trillion mark, according to Satoshi Capital Research. The growth clocked this year is more than 61 percent over the previous year’s total volume of $870 billion. The numbers will soar after the markets turn bullish in 2019.

Global funds network Calastone, which processes mutual fund trades for over 1,700 financial companies, will use blockchain for its entire system of fund trade clearing services. Deloitte, one of the “Big Four” audit firms, estimates that the use of blockchain will save $4.3 billion to the global fund industry, excluding the U.S. market.

Even after the fall, cryptocurrencies continue to figure into the discussions of world leaders and policy makers. Recently, the G20 countries called for a tax on all cross-border cryptocurrency payment services and regulation to prevent money laundering.

BTC/USD

Bitcoin has formed a pennant, which is a continuation pattern. A breakdown and close (UTC time frame) below the trendline of the pennant will resume the downtrend and has a pattern target of $2,416.52.

The support levels that can stall the fall are $3,620.26 and below that the critical support of $3,000. The moving averages continue to trend down and the RSI is close to the oversold zone, which shows that the bears have an upper hand.

Failure of the BTC/USD pair to even reach the 38.2 percent Fibonacci retracement level of the recent fall shows the kind of selling on every pullback. Considering the bearish pattern and the negative sentiment, traders can raise the stops on half of the position to $3,800 and keep the rest at $3,500.

The bearish view will be invalid if the bulls buy the breakdown and the virtual currency reverses direction, breaking out of $4,500. Until then, the path of least resistance is to the downside.

XRP/USD

Ripple is struggling to pull back. The 20-day EMA has turned down and the RSI is close to the oversold levels. This shows that the bears are overpowering the bulls in the short term.

The first level to watch on the downside is $0.33108. Below this, the next support is at the Nov. 25 intraday low of $0.31123. A break of this level will result in a retest of the critical support at $0.24508. Traders can watch the $0.30 level closely and liquidate positions if the bears sustain the price below the support line of the descending channel.

If the XRP/USD pair attracts buyers at one of the above-mentioned support levels, it will move up to $0.40, which will act as a major resistance, as the 20-day EMA is located at this level. After this level is crossed, we expect the bulls to pick up momentum.

ETH/USD

Ethereum has been trading inside the tight range of $130.50–$102.20 for the past ten days. A breakdown of the range will resume the downtrend. The first target on the downside is $83.

Contrarily, if the bulls succeed in defending the bottom of the range, the ETH/USD pair might extend its consolidation for a few more days.

Both the down-trending moving averages will act as a resistance on any pullback. A breakout of the range and the 20-day EMA can result in a rally to $167.32. Traders can remain on the sidelines until a trend reversal is signaled.

BCH/USD

Bitcoin Cash has drifted closer to the bottom of the $204.76–$148.27 range. A breakdown of this range will resume the downtrend that has a lower target of $100.

Though the RSI is in oversold territory, there is still no sign of buying by the bulls. We shall turn bullish on the BCH/USD pair if it breaks out and closes (UTC time frame) above the top of the range. The trend is clearly down and supply is much greater than demand.  

XLM/USD

After failing to break out of the overhead resistance of $0.184, Stellar has turned down, which shows a lack of buying at higher levels.

There is a minor support closer to the current levels, below which a retest of $0.13427050 will be in the cards. A breakdown of this level will resume the downtrend and can sink the price to $0.08.

On the upside, the XLM/USD pair will face a stiff resistance at $0.184. The 20-day EMA is also located just above this level. Hence, if the bulls scale these resistances, it will signal strength. Until then, traders should avoid any positive setting.

EOS/USD

EOS has been making new year-to-date lows on a regular basis. This shows that the bulls are not showing any interest in buying. Every pullback in the past few days has hit a roadblock after a day of recovery.

The next support on the downside is $2.40, below which, the fall can extend to $2. Both the moving averages are sloping down and the RSI continues to languish in the oversold territory.

A breakout of the downtrend line and the 20-day EMA will be the first sign of a change in trend. The traders should wait for a new buy setup to form before initiating a long position in the EOS/USD pair.

LTC/USD

Litecoin failed to break out of the 20-day EMA in the past few days, which shows that the bears are not waiting for higher prices to sell. On the other hand, the buying also dries up at higher levels.

Therefore, the LTC/USD pair is likely to retest the support at $28. A break of this level will resume the downtrend and can drag prices lower to $20.

If the bulls bounce off the supports and break out of the 20-day EMA, the virtual currency can rally to the next overhead resistance at $47.246. Both the moving averages are sloping down and the RSI is in the negative territory. This suggests that the bears have an advantage.

ADA/USD

Cardano has been trading in a tight range for the past few days. One small positive is that it has been trading in the top half of the range, which shows some buying pressure.

Any breakout of the range will face a minor resistance at the 20-day EMA, which is currently at $0.048. If the bulls break out of this, the next resistance is at $0.060105. Short-term traders can wait for a close above the range and then ride the move higher. However, as this is a high risk trade, please keep the position size small.

Contrary to our expectation, if the ADA/USD pair plunges below the range, it can resume its downtrend to the next target of $0.025954. Position traders should wait for a new uptrend to begin before initiating any long positions.

TRX/USD

After bouncing off the lows of $0.01089965, TRON has been facing a stiff resistance from the 20-day EMA, that is sloping down. Just above the 20-day EMA is the previous support-turned-resistance of $0.183. If the price turns down from either of the resistance levels, a retest of the lows is likely. If the lows are breached, the fall can extend to $0.00844479.

However, if the bulls succeed in scaling above $0.183, it will be a positive move. It will indicate that the recent breakdown was a bear trap.

Another possibility is that the TRX/USD pair consolidates below $0.183 for a few days. Either way, it is best to wait for a new buy setup to form before jumping in.

XMR/USD

Monero is in a downtrend. Both the downtrending moving averages and the RSI point to a further fall.  

If the bears break down of the recent lows of $53, a fall to the next lower level of $40 is probable. On the upside, the bulls will face stiff resistance in the $66–$70 zone.

The XMR/USD pair is yet to form a bottoming pattern. Hence, traders should wait until the trend reverses for establishing any fresh positions.

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