Price Analysis 12/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM
Rakesh Upadhyay's original article for cointelegraph.com reduced by 57%
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.
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CN [too long; didn’t read]
Summarised crypto news.