Mike Novogratz, founder and CEO of crypto investment firm Galaxy Digital Capital Management, called a bottom in cryptocurrencies on September 13, while conversely the Chief Commercial Officer of BitPay, Sonny Singh believes that Bitcoin will resurge in 2019 but that altcoins "Will never come back." He said the next trigger that can carry Bitcoin higher is the entry of institutional players.
Bitcoin broke out of $6,500 on September 13 but is currently facing resistance at the 20-day EMA. This shows sellers are active on pullbacks.
If the bulls break out of the 20-day EMA, a rally to the 50-day SMA, followed by a move to the downtrend line of the descending triangle is likely.
If the bulls scale above the 20-day EMA, the next overhead resistance is the downtrend line of the descending channel and the 50-day SMA, located just above the channel.
BCH/USDBitcoin Cash remains in a strong downtrend with both the moving averages trending down and the RSI in negative territory.
If the BCH/USD pair breaks down from $400, it could slump to $300 and $282.On the upside, if the bulls scale above the 20-day EMA, a rally to the 50-day SMA is probable.
LTC/USDThe breakdown from the $49.466 level on September 12 was short-lived as Litecoin bounced back into the range.
The LTC/USD pair will face stiff resistance on the upside from the 20-day EMA, the downtrend line and the 50-day SMA.Both moving averages are trending down and the RSI is still in negative territory.
ADA/USDBulls are trying to defend the $0.06 level on the downside but have not been able to carry Cardano above the $0.0715 level for the past two days.
The XMR/USD pair will turn negative if bears sink prices below the September 12 low of $96.390.IOTA/USDIOTA is attempting to bounce after taking support at the $0.5 mark, but it is facing strong resistance at the 20-day EMA.The zone between $0.59-$0.67 will act as stiff resistance.
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, September 14
Published on Sep 15, 2018
by Cointele | Published on Coinage
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