Price Analysis 12/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM
Rakesh Upadhyay's original article for cointelegraph.com reduced by 48%
ETH/USDEther declined below the uptrend line on Aug. 9, but the bears could not break below the psychological support of $200. The bulls are now attempting to propel the price back above the uptrend line.
We might suggest a long position on a close Coordinated Universal Time above $235.70.On the other hand, if the price fails to sustain above the uptrend line, bears will again attempt to break below the next support of $192.945. We suggest traders wait for the price to sustain above the 20-day EMA before turning positive. If the price moves above the 20-day EMA, the LTC/USD pair might consolidate between $83.65 and $105.676 for a few days.
The bounce from the support lacks strength because it has not been able to move above the 20-day EMA. If bulls can push the price above the 20-day EMA, the cryptocurrency can reach the 50-day SMA, which is close to the horizontal resistance of $4.8719. We will wait for the price to break out and close above $4.8719 before recommending a trade in it.
The bulls will attempt to defend this support and propel the XMR/USD pair back above both moving averages and the overhead resistance of $98.2939.Conversely, if the price breaks down of the support line of the channel, it can correct to $72. Therefore, traders can keep the stops on the long position at $77.XLM/USDStellar broke below the critical support of $0.072545 on Aug. 9, but the bears could not capitalize on the breakdown.
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send Ethereum
Donate With MetaMask
Donate ETH With MetaMask
Alternatively, support us by using the following referral links:
CN [too long; didn’t read]
Summarised crypto news.