Cryptocurrencies are now number one choices of a new generation, they are decentralized, they provide privacy and they are fast. They also provide many different options for utilization and they have numbers of users around two billion. Cryptocurrencies are fancy between millennials and they are investing in these nowadays instead of tradition options such as stocks, gold, etc.
Many private companies are trying to launch their own cryptocurrencies, for example, Facebook’s Libra, it has received a lot of criticism from the government or official bodies, and central banks around the globe. If we talk about the world’s biggest cryptocurrency Bitcoin, it’s has been through a lot of risks throughout this year, still, it is proposing itself as the safe option and it is not ready for that thing. As per the head of over-the-counter sales at a cryptocurrency exchange of Kraken, Nelson Minier has also stated in nearly is same as Wall Street when he works there as a new employee.
Bitcoin Analysis (BTC/USD): Bitcoin’s move in the market is going in the symmetrical triangle. The currency has been through a lot this year currently is under the bearish pressure. The two moving averages are squashed and the RSI is just beneath the mid-value, that is the position to a combination in the short-term. The symmetrical triangle generally shows the continuation structure, and therefore we have to sustain bullish favour and have to watch for a good entry. If the breakout happens then the value will go up and due to this traders can do long position as suggested in the earlier analysis.
On the other hand, the symmetrical triangle works as the reversal structure. The currency is trading at the value of $10,108.68 and it’s going down by 2.41%. The support is around 9,080 and the breakout can take the value as low as $7,451.63. The value is beneath the two moving averages and there is uncertainty on the chart.
Ethereum Analysis (ETH/USD): The currency is trading at the value of $186.42 and its value is going down by 2.00%. The BTC value of ETH is 0.01844445 and its value is increasing by 0.46%. Ethereum is trapped between the value of $174.461 and 20-day EMA. The two moving averages are going down and the RSI is in the red zone, that means the bears are in charge. The currency also dropped from the main support level of $192.945 on 14th August.
But still, the currency is maintaining the drop till the next support level of $150. The price is also for succeeding through the downside after dropping from the crucial support, the short term investors are getting profit due to it is going in reserve and opposite direction. If the currency breakout with bulls then the 20-day EMA will help it to reach up to $235.70 and the minor resistance level also lies at 50-day SMA, it will surely cross that. The investing for the long term is risky because of the decreasing value.
Ripple Analysis (XRP/USD): The currency is trading at the value of $0.266888 and the value is decreasing by 1.24%. The currency achieves the 20-day EMA and wasn’t able to break it. The virtual currency is actually under the bearish pressure and 20-day EMA is defended by that. The lower support level is also alluring the breakdown beneath the value of $0.24508. If the above value of 20-day EMA is pushed by bulls, and the downside trend will end. There is still minor resistance at the value 50-day SMA and it overcomes it. The break down will move first towards the $0.34229 and the investors can start the long positions. The pair of XRP/USD is dropped beneath the value of $0.24508 and the next support level will be $0.19.
Bitcoin Cash Analysis (BCH/USD): The currency is hovering and the value of the coin is dropped, the value is trapped between the 20-day EMA and channel trend line. The two moving averages breakout can make the currency achieve the value of $360 and it is the important resistance level. If this resistance is broken then the bullish movement will take place. The experts are suggesting the long term and it breakout near to the value of $360.
If the pair of BCH/USD will go up, then it will create a large head-and-shoulder structure. The breakdown and closing of the value beneath the neckline will finish the bearish movement. The next support level is $166.98 and even below this the value of $105.
Litecoin (LTC/USD): The currency is maintaining the value above $69.9227 for the previous few days, but it has not made any strong achievement. This movement has displayed a balance among the buyers and sellers. If the value dropped down this value then the bears will have the upper hand and the next support level lies the value of $58. If the 20-day EMA will breakout then we can say that the investors are in action.
The pair of LTC/USD has gone down before this for two times and then we just need to wait for it go into a green signal. Above this downtrend, the first resistance will be $105.676 and if this breakout is broken then the bulls will be in action.
Binance Coin (BNB/USD): The currency is trying to stick around the support level of a value of $26.202. The buying interest of the investors is negative currently. If the value the coin goes down from this value, then BNB will reach the value of $24.1709 and it doesn’t get bulls action near then it will drop down up to $18.30. The two moving averages are going down and RSI is also below the midpoint, this shows the currency is under bearish pressure.
If the pair is able to break the 50-day SMA and the value of the $24.1709 increases then the negative signal will turn into a green one. This will be a signal for the investors and the currency must maintain the value around the 50-days SMA.
EOS/USD: The currency is in the red zone and the currency’s value is trading beneath the moving averages. The RSI is also in the red zone and the currency is in the bearish movements. If the break down will happen at the important support level of $3.30 then the downtrend will follow. But, somehow the bearish movement is not able to move below the value of $3.30 some 16th July.
If the bulls are able to move above the 20-day EMA, it might allure the investors for the change of trend. Overhead of 20-day EMA, there is a little resistance at the 50-days SMA and above that the pair of EOS/USD can achieve the value of $4.8719. The experts are suggesting that the investor should buy when it is closed overhead the 20-day EMA and the loss will be the end of the value of $3.20. The position size is the same as 50% and there is hope that the trend will change.
Bitcoin SV (BSV/USD): The currency is trading in the close space in the previous 5 days. This usually succeeded by the extension in the value and it will enable a short-term trading option. The traders need to wait for any conclusive move to the two moving averages before doing trading. The bulls action will take the value around $188.69 and if the value breakout on the downside then the value will drop up to $123.67. Then further it will drop up to $107, which is a strong support level. The value can drop till the value of $85.338 and it is a huge red zone for the pair of BSV/USD. The RSI is beneath 50 and two MA is going down, the bears can overtake.
Monero (XMR/USD): It is bound with the range and if the value will break that range then the value will go bullish. On the other hand, if the value decreases beyond this range then it will initiate a new trends downside. The traders should trade after any conclusive move of the range due to value activities within the range can change too.
If the break out happens then it will be the first signal of the bullish movement. If the break our overhead $98.2939 will occur then the uptrend will happen surely. On the other hand, if the value of the pair goes down around $72 or even $60, then the bear will overpower. The XMR/USD chart is not showing good signals for buying.
Stellar Lumen (XLM/USD): The currency is under the bearish pressure and two moving averages are also going down, that means the bearish are in power. The bulls tried to make the price overhead the 20-day EMA towards the resistance level of $0.072545 on 25th August, but it was able to do so. The value is going down slowly from the above price, while the bulls are trying once more to expand the value above the next resistance. If this time the move will successful to move above the 50-day SMA and the value of $0.097795. The experts are suggesting this deal only for traders who are aggressive enough to take the risk.
On the other hand, the pair of XLM/USD is not able to break out the above resistance level, then it might bring the value again to $0.065435. If the come near the yearly lows then it will continue the downtrend.