EOS price is showing positive signs above $3.30 against the US Dollar, similar to bitcoin. The price must stay above $3.20 to avoid more losses.
This week, EOS price saw a downside extension below the $3.75 support zone against the US Dollar. The price broke the $3.50 and $3.30 support levels to move into a bearish zone.
The price settled below the $3.75 level and the 55 simple moving average (4-hours). There was even a spike below the $3.20 level. A low is formed near the $3.14 level and the price is now correcting higher. There was a break above the $3.30 and $3.40 resistance levels.
There was also a break above the 23.6% Fib retracement level of the key decline from the $4.38 swing high to $3.14 low. Besides, there was a break above a key bearish trend line with resistance near $3.40 on the 4-hours chart of the EOS/USD pair.
However, the price is now facing resistance near $3.55. The next key resistance is near the $3.60 level and the 55 simple moving average (4-hours). The main resistance is near the $3.75 level, above which the price is likely to accelerate higher.
The next major resistance is near the $4.00 level. On the downside, an initial support is near the $3.40 level. The first key support is near the $3.20 level. If there is a downside break below $3.20, the price could accelerate lower. The next major support is near the $3.00 level.
EOS Price
Looking at the chart, EOS price is now trading below $3.75 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher if it breaks the $3.55 and $3.75 resistance levels in the near term.
4-hours MACD – The MACD for EOS/USD is slowly losing pace in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now close to the 50 level.
Major Support Levels – $3.40 and $3.20.
Major Resistance Levels – $3.55 and $3.75.
The post EOS Price Analysis: Bears Take Step Back, Key Resistance Nearby appeared first on Live Bitcoin News.
Litecoin price is attempting a recovery above $110 against the US Dollar, similar to bitcoin. LTC price must clear $120 to start a decent increase in the near term.
This week, there was a downside extension in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC failed to stay above the main $120 support level.
The price even broke the $110 support level and settled well below the 55 simple moving average (4-hours). It traded as low as $104 before it started an upside correction. It climbed above the $110 and $112 resistance levels.
There was a break above the 23.6% Fib retracement level of the key decline from the $140 swing high to $104 low. Besides, there was a break above a crucial bearish trend line with resistance near $114 on the 4-hours chart of the LTC/USD pair.
The pair is now trading near the $118 and $120 resistance levels. The 50% Fib retracement level of the key decline from the $140 swing high to $104 low is also near the $120 level.
The 55 simple moving average (4-hours) is also near the $120 zone. A clear break and close above $120 could open the doors for a decent increase. The next major resistance is near the $135. On the downside, the $110 level is a strong support. If there is a close below $110, the price might dive towards the $100 level.
Litecoin (LTC) Price
Looking at the chart, litecoin price is clearly trading well below $120 and the 55 simple moving average (4-hours). Overall, the price could start a decent increase above the $118 and $120 resistance levels in the near term.
4 hours MACD – The MACD for LTC/USD is slowly gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now above the 50 level.
Key Support Levels – $110 and $100.
Key Resistance Levels – $120 and $130.
The post Litecoin (LTC) Price Analysis: Chances of Steady Recovery Above $120 appeared first on Live Bitcoin News.
Ethereum started an upside correction above the $1,850 resistance against the US Dollar. ETH price is likely to continue higher if there is a close above the $2,000 resistance.
Ethereum formed a decent support base above the $1,720 level, similar to bitcoin. As a result, ETH price started a steady increase above the $1,800 and $1,850 resistance levels.
There was also a close above the $1,900 level and the 100 hourly simple moving average. Ether price even spiked above the $2,000 resistance, but there was no proper close. A high was formed near $2,033 and the price is now correcting gains.
There was a break below the $2,000 level. It even tested the 23.6% Fib retracement level of the upward move from the $1,755 swing low to $2,033 high.
Source: ETHUSD on TradingView.com
On the upside, an initial resistance is near the $2,000 level. To move further into a positive zone, the price must settle above the $2,000 and $2,020 resistance levels. The next major barrier for the bulls could be near the $2,050 level, followed by $2,100. Any more gains might call for a test of $2,200.
If Ethereum fails to continue higher above $2,000 and $2,020, it could start a downside correction. An initial support on the downside is near the $1,970 level.
The first major support is near the $1,920 level. The main support is now forming near the $1,900 level. It is close to the 50% Fib retracement level of the upward move from the $1,755 swing low to $2,033 high. Any more losses could set the pace for a drop towards the $1,850 support zone in the near term. The next major support sits near the $1,800 level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 60 level.
Major Support Level – $1,900
Major Resistance Level – $2,000
Bitcoin price started a strong upward move from the $29,250 support zone against the US Dollar. BTC must settle above $32,000 and $32,500 for more upsides in the near term.
Bitcoin price found a strong buying interest below the $30,000 level. BTC formed a support base near the $29,300 and it started a major recovery wave.
The price surged above the $30,000 and $30,500 resistance levels. There was a clear break above the 61.8% Fib retracement level of the recent downward move from the $31,900 swing high to $29,312 low. There was also a break above a major bearish trend line with resistance near $31,250 on the hourly chart of the BTC/USD pair.
The pair jumped above the $31,500 level and the 100 hourly simple moving average. Finally, there was a break above the $32,000 resistance zone.
It tested the $32,500 resistance zone. It seems like the bears were active near the 1.236 Fib extension level of the recent downward move from the $31,900 swing high to $29,312 low. Bitcoin price is now consolidating above the $31,500 level.
Source: BTCUSD on TradingView.com
The first major resistance is near the $32,500 level. If there is a close above the $32,500 resistance zone, the price is likely to accelerate higher. In the stated case, the price is likely to move towards the $33,500 level in the near term.
If bitcoin fails to climb above the $32,300 and $32,500 resistance levels, it could start a downside correction. An initial support on the downside is near the $31,500 level.
The first major support is now near the $31,200 zone. A clear downside break below the $31,200 support may possibly put a lot of pressure on the bulls. The next key support is seen near the $30,500 level.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.
Major Support Levels – $31,500, followed by $31,200.
Major Resistance Levels – $32,200, $32,500 and $33,000.
TRON price is slowly moving lower below $0.0500 against the US Dollar, similar to bitcoin. TRX price remains at a risk of a larger decline below $0.0500 in the near term.
After struggling to clear the $0.0600 resistance zone, tron price started a fresh decline against the US Dollar. TRX price broke many important supports near $0.0580 and $0.0550 to move into a bearish zone.
There was also a close below the $0.0550 support level and the 55 simple moving average (4-hours). The price even spiked below the $0.0500 level. It traded as low as $0.0491 and the price is now consolidating losses.
An initial resistance on the upside is near the $0.0512 level. It is close to the 23.6% Fib retracement level of the recent decline from the $0.0576 high to $0.0491 low. The first major resistance is near the $0.0520 level.
There is also a major bearish trend line forming with resistance near $0.0530 on the 4-hours chart. The trend line coincides with the 50% Fib retracement level of the recent decline from the $0.0576 high to $0.0491 low. The main resistance is now forming near the $0.0550 level.
A clear break above the $0.0520 and $0.0550 resistance levels could start a major increase. The next major resistance is near $0.0575 and the 55 simple moving average (4-hours).
An immediate support on the downside is near the $0.0500 level. A downside break below the $0.0500 support zone could set the pace for a larger decline. The next major support is near the $0.0480 level. Any more losses might call for a drop towards the $0.0450 zone.
Tron (TRX) Price
The chart indicates that TRX price is now trading well below the $0.0550 resistance and the 55 simple moving average (4-hours). Overall, the price could correct higher, but the bears are likely to remain active near $0.0530 and $0.0550.
4 hours MACD – The MACD for TRX/USD is slowly losing momentum in the bearish zone.
4 hours RSI – The RSI for TRX/USD is now well below the 50 level, with a recovery angle.
Key Support Levels – $0.0500 and $0.0450.
Key Resistance Levels – $0.0520, $0.0530 and $0.0550.
The post Tron (TRX) Price Analysis: Upsides Remain Limited Below $0.055 appeared first on Live Bitcoin News.
Bitcoin price is slowly gaining bearish momentum below $30,00 against the US Dollar. BTC could correct higher, but upsides might be contained above $31,000.
Bitcoin price started a major decline from well above the $32,000 zone. BTC broke the $31,200 and $31,000 support levels to move further into a bearish zone.
The pair accelerated losses below the $30,000 level and it settled well below the 55 simple moving average (4-hours). The price even broke the $29,500 support zone. A low I formed near $29,312 and it is now consolidating losses.
An initial resistance is near the $30,050 level. It is close to the 23.6% Fib retracement level of the downward move from the $32,468 swing high to $29,312 low.
The first major resistance is near the $30,900 level. It coincides with the 50% Fib retracement level of the downward move from the $32,468 swing high to $29,312 low. There is also a key bearish trend line forming with resistance near $30,900 on the 4-hours chart of the BTC/USD pair.
The main resistance is now forming near the $32,000 level and the 55 simple moving average (4-hours). A close above the $32,000 zone is needed for a fresh increase.
An immediate support on the downside is near the $29,300 zone. If there is a downside break below the $29,300 zone, the pair could decline steadily towards the $28,500 level. The next major support for the bulls is near the $28,000 zone.
Bitcoin Price
Looking at the chart, bitcoin price is clearly trading well below $32,000 and the 55 simple moving average (4-hours). Overall, the price might correct higher, but it is likely to face sellers near the $30,900 zone in the near term.
4 hours MACD – The MACD is slowly losing momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI is now well below the 50 level.
Key Support Levels – $29,300 and $28,000.
Key Resistance Levels – $30,800, $31,000 and $32,000.
The post Bitcoin Price Analysis: BTC Turned Sell on Rallies appeared first on Live Bitcoin News.
Ethereum started an upside correction from the $1,720 zone against the US Dollar. ETH price could correct further higher, but upsides might be capped near $1,850.
Ethereum remained in a bearish zone and it extended its decline below $1,800, similar to bitcoin. ETH price broke the $1,780 support and it settled well below the 100 hourly simple moving average.
The price traded as low as $1,718 and it seems to be forming a base above the $1,720. Ether is now correcting gains and it is trading above the $1,750 level. There was a break above the 50% Fib retracement level of the key decline from the $1,832 swing high to $1,718 low.
There was also a break above a key bearish trend line with resistance near $1,790 on the hourly chart of ETH/USD. The pair is now trading above the 61.8% Fib retracement level of the key decline from the $1,832 swing high to $1,718 low.
Source: ETHUSD on TradingView.com
The price is now facing resistance near the $1,810 level. The main resistance is now forming near the $1,850 level and the 100 hourly SMA. To move into a positive zone, the price must climb above the $1,830 and $1,850 resistance levels.
If Ethereum fails to recover above $1,820 and $1,850, it could continue to move down. An initial support on the downside is near the $1,775 level.
The first major support is near the $1,750 level. The main support is now forming near the $1,720 level. Any more losses could set the pace for a drop towards the $1,650 support zone in the near term. The next major support sits near the $1,600 level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 level.
Major Support Level – $1,750
Major Resistance Level – $1,850
Bitcoin price extended its decline below the $30,000 support against the US Dollar. BTC is finding bids near $29,250 and it might attempt an upside correction.
Bitcoin price extended its decline below the $30,200 and $30,000 support levels. BTC even settled well below the $30,000 level and the 100 hourly simple moving average to move further into a bearish zone.
The price even spiked below $29,500 and traded as low as $29,313. It seems like bitcoin is forming a support base above the $29,250 level. An initial resistance on the upside is near the $30,000 level. It is close to the 23.6% Fib retracement level of the recent downward move from the $31,900 swing high to $29,313 low.
The first major resistance is near the $30,600 level. It is near the 50% Fib retracement level of the recent downward move from the $31,900 swing high to $29,313 low.
Source: BTCUSD on TradingView.com
There is also a key bearish trend line forming with resistance near $31,300 on the hourly chart of the BTC/USD pair. In the short-term, bitcoin price might start a decent recovery above $30,000, but it might face barriers near the $31,000 level in the near term.
If bitcoin fails to recover above the $30,000 and $30,600 resistance levels, there is a risk of more losses. An initial support on the downside is near the $29,350 level.
The first major support is now near the $29,250 zone. A clear downside break below the recent low and $29,250 might call for a move below the $29,000 level. The next key support is seen near the $28,000 level.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is rising and it might soon clear the 50 level.
Major Support Levels – $29,250, followed by $29,000.
Major Resistance Levels – $30,000, $30,600 and $31,000.
Cardano price is trading in a negative zone below $1.20 against the US Dollar, similar to bitcoin. ADA price could continue to move down towards the $1.00 support.
In the past few days, cardano price saw a lot of bearish moves below the $1.50 and $1.40 levels against the US Dollar. The ADA/USD pair even broke the $1.30 support zone and the 55 simple moving average (4-hours).
The recent decline gained pace below the $1.20 support zone. The bears seem to be in control and the price traded as low as $1.077. The current price action suggests high chances of more downsides below $1.08.
An immediate support is near the $1.05 level. The main support is near the $1.00 level. If there is a break below $1.00, the bears are likely to gain further strength. In the stated case, the price may possibly spike towards the $0.80 level in the near term.
An immediate resistance on the upside is near the $1.12 level. It is near the 23.6% Fib retracement level of the recent decline from the $1.22 high to $1.07 low.
The first major resistance is now near the $1.15 level. There is also a key bearish trend line forming with resistance near $1.15 on the 4-hours chart. The trend line is close to the 50% Fib retracement level of the recent decline from the $1.22 high to $1.07 low.
A clear close above the $1.15 level could spark a decent increase. The next major resistance is near the $1.20 level.
Cardano (ADA) Price
The chart indicates that ADA price is clearly trading well below $1.20 and the 55 simple moving average (4-hours). Overall, the price is likely to continue lower towards the $1.00 support level in the near term.
4 hours MACD – The MACD for ADA/USD is now gaining pace in the bearish zone.
4 hours RSI – The RSI for ADA/USD is now below the 50 level.
Key Support Levels – $1.05 and $1.00.
Key Resistance Levels – $1.15 and $1.20.
The post Cardano (ADA) Price Analysis: More Downsides Likely Towards $1 appeared first on Live Bitcoin News.
Cardano price is trading in a negative zone below $1.20 against the US Dollar, similar to bitcoin. ADA price could continue to move down towards the $1.00 support.
In the past few days, cardano price saw a lot of bearish moves below the $1.50 and $1.40 levels against the US Dollar. The ADA/USD pair even broke the $1.30 support zone and the 55 simple moving average (4-hours).
The recent decline gained pace below the $1.20 support zone. The bears seem to be in control and the price traded as low as $1.077. The current price action suggests high chances of more downsides below $1.08.
An immediate support is near the $1.05 level. The main support is near the $1.00 level. If there is a break below $1.00, the bears are likely to gain further strength. In the stated case, the price may possibly spike towards the $0.80 level in the near term.
An immediate resistance on the upside is near the $1.12 level. It is near the 23.6% Fib retracement level of the recent decline from the $1.22 high to $1.07 low.
The first major resistance is now near the $1.15 level. There is also a key bearish trend line forming with resistance near $1.15 on the 4-hours chart. The trend line is close to the 50% Fib retracement level of the recent decline from the $1.22 high to $1.07 low.
A clear close above the $1.15 level could spark a decent increase. The next major resistance is near the $1.20 level.
Cardano (ADA) Price
The chart indicates that ADA price is clearly trading well below $1.20 and the 55 simple moving average (4-hours). Overall, the price is likely to continue lower towards the $1.00 support level in the near term.
4 hours MACD – The MACD for ADA/USD is now gaining pace in the bearish zone.
4 hours RSI – The RSI for ADA/USD is now below the 50 level.
Key Support Levels – $1.05 and $1.00.
Key Resistance Levels – $1.15 and $1.20.
The post Cardano (ADA) Price Analysis: More Downsides Likely Towards $1 appeared first on Live Bitcoin News.
Ethereum price is showing bearish signs below $2,000 against the US Dollar. ETH/USD could decline heavily towards the $1,500 level in the near term.
In the past few days, ethereum started a steady decline from well above $2,200 against the US Dollar. ETH price broke the main $2,000 support zone to enter a bearish zone.
The price even broke the $1,850 support level and it settled well below the 55 simple moving average (4-hours). It even traded below the $1,800 level and a low is formed near $1,759. The price is clearly showing a lot of bearish signs below $1,800.
An initial support is near the $1,750 level. If there is a downside break below the $1,750 support, there is a risk of more downsides. The next key support is near the $1,680 level. Any more losses might call for a test of the $1,500 level in the near term.
On the upside, an immediate resistance is near the $1,815 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,996 swing high to $1,759 low.
The first major resistance is near the $1,850 zone. There is also a major bearish trend line forming with resistance near $1,850 on the 4-hours chart. The trend line is also close to the 50% Fib retracement level of the recent decline from the $1,996 swing high to $1,759 low.
A clear break above the trend line and $1,900 may possibly push the price towards the main $2,000 resistance zone. To move into a positive zone, the price must settle above $2,000 and the 55 simple moving average (4-hours).
Ethereum Price
Looking at the chart, Ethereum price is clearly trading well below the $2,000 zone and the 55 simple moving average (4-hours). Overall, ether price is likely to accelerate lower if there is a break below the $1,750 support zone.
4 hours MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is well below the 50 level.
Key Support Levels – $1,750, followed by the $1,650 zone.
Key Resistance Levels – $1,850 and $2,000.
The post Ethereum Price Analysis: ETH May Soon Revisit $1,500 appeared first on Live Bitcoin News.
Ethereum is gaining bearish momentum below $1,800 against the US Dollar. ETH price is likely to continue lower and it might even test the $1,500 level in the near term.
Ethereum is clearly following a bearish path from well above $1,950, similar to bitcoin. ETH price broke the $1,900 support and it settled well below the 100 hourly simple moving average.
The price even declined below the $1,850 support and $1,800. A low is formed near $1,722 and the price is now showing signs of more losses in the near term. On the upside, an initial resistance is near the $1,770 level.
The 23.6% Fib retracement level of the recent drop from the $1,920 swing high to $1,722 low is also near $1,770. The next key resistance is near the $1,800 level. There is also a major bearish trend line forming with resistance near $1,820 on the hourly chart of ETH/USD.
The trend line is close to the 50% Fib retracement level of the recent drop from the $1,920 swing high to $1,722 low. To move into a positive zone, the price must climb above the $1,800 and $1,820 resistance levels.
Source: ETHUSD on TradingView.com
A proper break above the trend line resistance could initiate a move towards the $1,950 level. The next major resistance is near the $2,000 zone.
If Ethereum fails to recover above $1,770 and $1,820, it could continue to move down. An initial support on the downside is near the $1,720 level.
The first major support is near the $1,650 level. If ether fails to stay above the $1,650 support, it could decline towards the $1,600 support. Any more losses could set the pace for a drop towards the $1,500 support zone in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now gaining pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now close to the 20 level.
Major Support Level – $1,650
Major Resistance Level – $1,820
Bitcoin price extended its decline below the $31,200 support against the US Dollar. BTC remains at a risk of a larger decline below the $30,000 support zone.
Bitcoin price remains in a downtrend and it is now trading well below the $33,000 pivot zone. BTC extended its decline below the $31,200 support zone and it settled well below the 100 hourly simple moving average.
The price extended its decline and it even traded below $30,650. A low is formed near $30,445 and the price is now consolidating losses. It corrected a few points above the $30,500 level. However, there was no proper follow through above the 23.6% Fib retracement level of the recent drop from the $31,901 swing high to $30,445 low.
An immediate resistance on the upside is near the $31,200 level (the recent breakdown zone). It is near the 50% Fib retracement level of the recent drop from the $31,901 swing high to $30,445 low.
The next key resistance is near the $31,500 level. There is also a major bearish trend line forming with resistance near $31,550 on the hourly chart of the BTC/USD pair. The trend line resistance at $31,500 is also close to the 100 hourly SMA.
Source: BTCUSD on TradingView.com
A close above the trend line resistance could initiate a decent recovery above $32,000. Besides, a proper break above the $32,000 level may push the price towards $33,000.
If bitcoin fails to recover above the $31,200 and $31,500 resistance levels, there is a risk of more losses. An initial support on the downside is near the $30,500 level.
The first major support is now near the $30,200 zone. The main support is now near the $30,000 level. A close below the $30,000 level could spark a steady decline in the near term.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level.
Major Support Levels – $30,500, followed by $30,000.
Major Resistance Levels – $31,200, $31,500 and $32,000.
Ripple price is struggling to recover above $0.6000 against the US Dollar, similar to bitcoin. XRP price could extend losses below $0.5500 and $0.5000 in the near term.
Recently, there was a fresh dip in ripple price below the $0.6120 support against the US Dollar. The XRP/USD pair even broke the $0.6000 support zone to move further into a bearish zone.
The price is now trading well below the $0.6000 resistance and the 55 simple moving average (4-hours). A low was formed near $0.5642 and the price is now consolidating losses. It made an attempt to surpass the $0.5850 and $0.5950 resistance levels.
It even spiked above the 50% Fib retracement level of the recent decline from the $0.6176 high to $0.5642 low. However, the price failed to clear the $0.6000 resistance zone.
The pair topped near the 61.8% Fib retracement level of the recent decline from the $0.6176 high to $0.5642 low. There is also a major declining channel forming with resistance near $0.5900 on the 4-hours chart of the XRP/USD pair.
To move into a bullish zone, the pair must break the $0.6000 resistance zone. The next major resistance is near the $0.6200 level and the 55 simple moving average (4-hours).
On the downside, the $0.5750 level is a decent support. The first major support is near the $0.5500 level. If there is a clear break below the $0.5500 level, the price could see an increase in selling pressure. In the stated case, the price is likely to decline towards the $0.5000 level.
Ripple Price
Looking at the chart, ripple price is clearly facing hurdles near $0.6200 and the 55 simple moving average (4-hours). Overall, the price could start a major increase if it clears the $0.6000 and $0.6200 resistance levels.
4 hours MACD – The MACD for XRP/USD is now losing momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is now just below the 50 level.
Key Support Levels – $0.575, $0.550 and $0.500.
Key Resistance Levels – $0.600 and $0.620.
The post Ripple Price Analysis: Risk of a Larger Decline Below $0.50 appeared first on Live Bitcoin News.
Ethereum is facing an uphill task near the $2,000 zone against the US Dollar. ETH price remains at a risk of a larger decline below the $1,800 support zone.
After a failed attempt to clear the $2,000 resistance, ethereum started a fresh decline, similar to bitcoin. ETH price broke the $1,950 support and it settled well below the 100 hourly simple moving average.
The price even declined below the $1,920 support, but the bulls are defending the $1,850 support zone. The recent low was formed near $1,866 and the price is now correcting higher. It is testing the $1,900 resistance zone.
The 23.6% Fib retracement level of the recent decline from the $1,993 swing high to $1,866 low is also near $1,900. The next key resistance is near the $1,920 level and the 100 hourly simple moving average.
The $1,920 resistance is close to the 50% Fib retracement level of the recent decline from the $1,993 swing high to $1,866 low. There is also a key bearish trend line forming with resistance near $1,975 on the hourly chart of ETH/USD.
Source: ETHUSD on TradingView.com
A proper break above the trend line resistance is must for a strong move above the $2,000 resistance. The next major resistance is near the $2,050 zone.
If Ethereum fails to recover above $1,920 and $1,950, it could continue to move down. An initial support on the downside is near the $1,865 level.
The first major support is near the $1,850 level. If ether fails to stay above the $1,850 support, it could decline towards the $1,800 support. Any more losses could set the pace for a drop towards the $1,750 support zone in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now close to the 50 level.
Major Support Level – $1,850
Major Resistance Level – $1,950
Bitcoin price is trading in a bearish zone below $33,000 against the US Dollar. BTC could extend its decline and it could even dive below $30,000.
In the past few days, bitcoin price followed a bearish pattern below the $33,000 pivot level. BTC even settled below the $32,000 support zone and the 100 hourly simple moving average.
The price is now holding the $31,000 support zone and it is consolidating in a range. The recent low was formed near $31,154 and the price is now correcting losses. There was a break above the $31,500 resistance zone.
The price was able to climb above the 23.6% Fib retracement level of the recent decline from the $32,450 swing high to $31,154 low. An immediate resistance on the upside is near the $31,800 level and the 100 hourly SMA.
The 50% Fib retracement level of the recent decline from the $32,450 swing high to $31,154 low is also near the $31,800 level. Moreover, there is a key bearish trend line forming with resistance near $31,850 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
A close above the trend line resistance could initiate a decent recovery above $32,000. A close above the $32,000 level may push the price towards $33,000.
If bitcoin fails to recover above the $31,800 and $32,000 resistance levels, there is a risk of more losses. An initial support on the downside is near the $31,200 level.
The first major support is now near the $31,000 zone. A close below the $31,000 level could spark a steady decline in the near term. In the stated case, the price is likely to even trade below the $30,000 support level.
Technical indicators:
Hourly MACD – The MACD is slowly losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now just below the 50 level.
Major Support Levels – $31,200, followed by $31,000.
Major Resistance Levels – $31,800, $32,000 and $33,000.
Bitcoin cash price is struggling to move higher above $475 against the US Dollar, similar to bitcoin. BCH/USD must stay above $445 and $430 to start a fresh increase.
After struggling to stay above the $500 level, bitcoin cash price started a fresh decline. BCH broke the $475 and $470 support levels to move into a bearish zone.
There was a clear downside break below the $465 and $450 support levels. The pair tested the $445 level and recently formed a support base. The recent low was formed near $443 and the price is now consolidating losses.
It broke the 23.6% Fib retracement level of the recent decline from the $509 swing high to $443 low. An initial resistance is near the $470 level. The first major resistance is near the $475 level. There is also a key bearish trend line forming with resistance near $472 on the 4-hours chart of the BCH/USD pair.
The trend line is close to the 50% Fib retracement level of the recent decline from the $509 swing high to $443 low. To move into a positive zone, the price must break $475. The next major resistance is near the $500 level.
An immediate support on the downside is near the $445 level. A downside break below the $445 support zone could open the doors for a larger decline. The next major support is near the $430 level, below which the price may even test $400.
Bitcoin Cash Price
Looking at the chart, bitcoin cash price is showing bearish signs below $475 and the 55 simple moving average (4-hours). Overall, the price could start a decent increase if it clears the $472 and $475 resistance levels.
4 hours MACD – The MACD for BCH/USD is now gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BCH/USD is near the 45 level.
Key Support Levels – $445 and $430.
Key Resistance Levels – $475 and $500.
The post Bitcoin Cash Analysis: Can Bulls Overcome Selling Pressure? appeared first on Live Bitcoin News.
Ethereum restarted its decline after it failed to stay above $2,000 against the US Dollar. ETH price is holding the $1,880 support, but it must clear $2,000 for a decent increase.
After a failed attempt to settle above $2,000, ethereum extended its decline, similar to bitcoin. ETH price broke the $1,920 support and it settled well below the 100 hourly simple moving average.
However, the price stayed above the $1,880 support. A low was formed near $1,861 and the price recently started an upside correction. There was a break above the $1,920 and $1,925 resistance levels.
Ether climbed above the 23.6% Fib retracement level of the recent decline from the $2,043 swing high to $1,881 low. It is now facing resistance near the $1,950 zone. There is also a major bearish trend line forming with resistance near $1,955 on the hourly chart of ETH/USD.
Source: ETHUSD on TradingView.com
The trend line is close to the 50% Fib retracement level of the recent decline from the $2,043 swing high to $1,881 low. The next major resistance is near the $2,000 zone and the 100 hourly simple moving average.
If ether breaks the trend line and then settles above $2,050, there could be a steady increase. The next major resistance is near the $2,050 level.
If Ethereum fails to recover above $1,955 and $2,050, it could continue to move down. An initial support on the downside is near the $1,920 level.
The first major support is near the $1,880 level. If ether fails to stay above the $1,880 support, it could decline towards the $1,865 support. Any more losses could set the pace for a drop towards the $1,750 support zone in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now back above the 50 level.
Major Support Level – $1,880
Major Resistance Level – $2,000
Bitcoin price extended its decline below $31,500 before recovering higher against the US Dollar. BTC is likely to face resistance near $32,200 and it might continue to move down.
After a minor upside correction, bitcoin price failed near $33,000. As a result, BTC started a fresh decline below the $32,000 support level. It even broke the $31,550 swing low and settled well below the 100 hourly simple moving average.
It traded as low as $31,190 before it started an upside correction. There was a break above the $31,500 and $31,600 resistance levels. Bitcoin climbed above the 23.6% Fib retracement level of the recent decline from the $33,210 swing high to $31,190 low.
An immediate resistance on the upside is near the $32,000 level. The first major resistance is near the $32,200 level. There is also a major bearish trend line forming with resistance near $32,250 on the hourly chart of the BTC/USD pair.
The trend line is close to the 50% Fib retracement level of the recent decline from the $33,210 swing high to $31,190 low. A close above the trend line resistance could push the price towards the $33,000 resistance and the 100 hourly SMA.
Source: BTCUSD on TradingView.com
To start a decent increase, the price must settle above the $33,000 level and the 100 hourly SMA. The next major resistance sits near $33,500.
If bitcoin fails to recover above the $32,200 and $33,000 resistance levels, there is a risk of more losses. An initial support on the downside is near the $31,500 level.
The first major support is now near the $31,200 zone. A close below the $31,200 level could spark a steady decline in the near term. In the stated case, the price is likely to test the $30,000 support level.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now just above the 50 level.
Major Support Levels – $31,500, followed by $31,200.
Major Resistance Levels – $32,200, $32,500 and $33,000.
