Above the range, the virtual currency can again face resistance at the 20-day EMA, at the downtrend line of the descending triangle and at the 50-day SMA. For the past seven days, the bears have repeatedly pushed prices down from the $6,617.
ETH/USD Ethereum is struggling to stay above the $300 mark.
BCH/USD After failing to climb above the $537.8221 level for the past three days, Bitcoin Cash is again attempting to scale the overhead resistance and the RSI is trying to exit the oversold zone.
On the downside, if the BCH/USD pair plunges below $473.9060, it can slide to $400. We will wait for the price to break out and sustain above both moving averages before turning positive.
Any recovery will face resistance at the 20-day EMA and above that at the 50-day SMA. The bulls have not broken out of the 50-day SMA since June 9.
In April of this year, the EOS/USD pair picked up momentum only after breaking out of the 50-day SMA. Hence, we might suggest long positions after the price sustains above the 50-day SMA. If a new setup develops before that, we shall consider it.
The pullback on August 13 and August 15, both faced selling at the 20-day EMA. Previously, in mid-April and mid-July of this year, the XLM/USD pair picked up momentum after it closed above the 20-day EMA. Currently, the 50-day SMA is flat and the 20-day EMA is sloping down.
LTC/USD The attempt to pullback on August 18 met with selling at higher levels but Litecoin has maintained above the $54 level for the past two days.
XMR/USD Monero has pulled back for the past three days and is close to the 20-day EMA where it might face resistance.
If the bulls scale above the 20-day EMA, the recovery can continue till the $120 mark.
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, ETC: Price Analysis, August 17
Publié le Aug 17, 2018
by Cointele | Publié le Coinage
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