Price Analysis 09/09: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, ADA
Rakesh Upadhyay's original article for cointelegraph.com reduced by 71%
The bounce has reached the 20-day EMA, which has acted as a stiff resistance since June 30.If bulls push the price above the 20-day EMA, the XRP/USD pair can move up to the 50-day SMA. Above this level, the pair will signal the end of downtrend. We might suggest a long position on a breakout and close above the 50-day SMA.Our view of a trend change will be invalidated if the price turns down from the current level or from the 50-day SMA and plummets below the $0.24508-$0.225 support zone.
If bulls push the price above $360, we anticipate a move to $515.35.Conversely, if the pair turns down from current levels and plummets below the neckline of the head-and-shoulders pattern, it can drop to $166.98 and below it to $105. We will wait for the price to move above $360 before suggesting a trade in it. If the price does not climb above $24.1709 within the next few days, we expect bears to sink the price to $18.30.
We will wait for the price to sustain above the 50-day SMA before proposing a trade in it. If the BSV/USD pair rises above $150, it might attract strong buying that can carry the price to $188.69. The first target will be a move to $97.9733 and above it $120.
However, a failure to break out of the wedge will attract selling that can drag the price back towards the recent lows of $65.7316.
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CN [too long; didn’t read]
Summarised crypto news.