Price Analysis 16/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX
Rakesh Upadhyay's original article for cointelegraph.com reduced by 42%
87.If the support zone cracks, the downtrend will resume and the next strong support is way lower at $5,533, which is the 78.6% Fibonacci retracement level of the most recent rally. The bears will now try to sink the price below the $161.056 to $151.829 support zone. Contrary to our assumption, if the bears sink the price below both moving averages, the pair can drop to $0.24508 and below it to $0.22.
EOS has a minor support at $2.8129 below which a retest of the recent lows of $2.4001 is likely. Conversely, if the pair rebounds off $16.50, the bulls will again attempt to push the price above the 50-day SMA and the resistance line of the channel. The bears will now try to sink the price below the support at $78.506.
If the bulls can propel the price above $0.01866, the pair can start a move back to $0.041, with an intermediate resistance at $0.030.
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CN [too long; didn’t read]
Summarised crypto news.