Price Analysis – Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, NEM, Cardano | BTC, ETH

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, NEM, Cardano: Price Analysis, January 27 After the discussions at the World Economic Forum in Davos, the world leaders are getting ready to deliberate on cryptocurrencies in the forthcoming G20 summit in March

Many leaders seek to regulate cryptocurrencies, but if we study the consequences of the Chinese regulations, we find that they have been ineffective Traders based in China have started trading at cryptocurrency exchanges in Hong Kong The Chinese government has only increased the risk for their traders because now they are forced to buy Bitcoin at a premium of about $1,200 compared to other exchanges The leaders and central banks, instead of blindly opposing cryptocurrencies should chalk out a strategy to embrace them after discussing with the crypto stalwarts BTC/USD The Bitcoin bulls have been defending the $10,000 mark for the past few days

But they have not been able to push prices higher, which is a point of concern The cryptocurrency has broken out of the down trendline one, which shows that the momentum on the downside has decreased We can expect a few more days of range bound action between $10,000 and $12,000 It is difficult to predict whether the upside or the downside move comes next If the bulls succeed in breaking out of the 20-day EMA, which is currently at $12,218, the BTC/USD pair should rally to the down trendline two

The traders can wait for the breakout above $12,200 to sustain for about 4-hours and then buy with a stop-loss at $9,900 The target objective is a move to $14,500 On the downside, if the bears break below $9,900, the selling is likely to intensify The next stop on the downside is $8,000 As we are uncertain about the next move, we have elucidated both possibilities

We don’t find any setups as long as the price remains within the range ETH/USD In our previous analysis, we had recommended long positions in Ethereum on dips to $1,000 Our long positions were triggered yesterday, Jan 27 After touching an intraday high of $1,102

4 on Jan 25, the cryptocurrency fell to the down trendline yesterday, Jan 26 Now, if it manages to break out of $1,110, we can expect it to rally to $1,17436 levels

Once the ETH/USD pair breaks out of $1,110, traders should raise the stop loss from the current levels of $840 to $950 That will decrease our risk Partial profits can be booked at $1,170 levels, and the stops on the remaining positions should be trailed higher BCH/USD Bitcoin Cash has a history of entering into small range trading days, before a significant breakout or a breakdown We had seen a similar pattern in August and October last year, 2017

Currently, the price has been stuck in a tight range of $1,479 on the downside and $1,700 on the upside Any breakout of this range is likely to face a slew of resistance at the 20-day EMA, the downtrend line and $2,0726853 On the downside, support is at the January 17th low of $13649657 and $1141

We don’t find any tradable setup on the BCH/USD pair XRP/USD Ripple continues to trade inside the range of $087 and $174 with a downward bias If the cryptocurrency breaks down of $1

09 levels, a fall to the lower end of the range is likely The XRP/USD pair is struggling to find any buyers Therefore, we should wait for the cryptocurrency to bounce off the $087 lows before initiating any long positions The probable bearish crossover of the 20-day EMA and the 50-day SMA is another negative sign

We anticipate the range-bound trading action to continue for the next few days XLM/USD Stellar is comparatively stronger cryptocurrency because it is quoting above both the 20-day EMA and the 50-day SMA and both are trending higher, whereas, most other top currencies are witnessing a bearish crossover of the moving averages If the overall sentiment remains subdued, we believe that the XLM/USD pair will face resistance at the $0671 mark Currently, we don’t have a suitable stop loss, so, we’d better wait for a correction to the trendline before initiating any long positions

Once the cryptocurrency breaks out of the $0671 mark, a move towards the highs is likely, with a small resistance at $0732 levels It might be a good idea to wait for a low-risk trading opportunity to initiate fresh positions LTC/USD Litecoin broke below the $175 support level yesterday, Jan

26, but recovered and closed above it by the end of the day What might be worth considering is the fact that the bulls are not able to push prices higher If we don’t get an upside massive range move within a couple of days, chances are that the bears will again attempt to sink the cryptocurrency On the downside, support exists at $140001, which is the intraday low of Jan

17 If this level also breaks, the LTC/USD pair can sink to the next support level of $85 If the bulls manage to push prices higher, they will face resistance at $200 from the 20-day EMA and at the down trendline of the descending triangle We should change our bearish view only after price breaks out of $225 XEM/USD NEM broke below the $0

86 levels yesterday, Jan 26, and made an intraday low of $0775 However, the bears were not able to capitalize on the breakdown Today, we find some buying at the lower levels

The bulls are attempting to break out of the down trendline, which continues to be major resistance Even if the price breaks out of this, we expect the XEM/USD pair to face resistance at the $1 levels from both the moving averages The cryptocurrency will become bullish once it breaks out of $121 levels We shall wait for it to turn positive before recommending any long positions

ADA/BTC Cardano again failed to break out of 000006 That’s why the buy suggested in the previous analysis did not trigger The ADA/BTC pair is now likely to fall to the 000005 levels, which should act as a support

However, if this level breaks, a fall to 000004730 and after that to 000004070 can’t be ruled out We shall wait for the cryptocurrency to turn bullish before recommending any fresh positions

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