Price Analysis 14/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM
Rakesh Upadhyay's original article for cointelegraph.com reduced by 45%
XRP/USD. XRP is again correcting toward the critical support of $0.27795. BCH/USD.
Bitcoin Cash broke above the overhead resistance of $345.80, but it turned down from the 50-day SMA. A failure to scale the 50-day SMA has attracted selling that has dragged the price back below the 20-day EMA. The next drop towards $300 is likely to break it and challenge the neckline of the head and shoulders pattern.
EOS/USD. After being stuck between the 20-day EMA and $3.8723 for the past few days, EOS has now broken down of the support. If the price does not bounce above the 20-day EMA soon, the next support at $3.30 might also break down.
A breakout of this level can start a recovery that can carry the price to $6. Hence, we might suggest a long position if the price sustains above $4.8719. A breakdown of the channel can drag the price to $77 and below it to $72.
Therefore, traders can keep the stop loss on the long position at $77. We are not recommending a closer stop loss, because sometimes the price falls only to collect all the existing stops before turning back up. If bulls can force a turnaround from current levels and propel the price above the moving averages, the XMR/USD pair will make another attempt to break above the overhead resistance of $98.2939.
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CN [too long; didn’t read]
Summarised crypto news.