Price Analysis 01/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

Published on by Cointele | Published on

The moving averages are on the verge of a bullish crossover and are placed just below the previous resistance turned support of $8,777.

Contrary to our assumption, if the BTC/USD pair fails to find support at the moving averages, it will delay the resumption of the up move.

If the bulls defend $161.056-$151.829 support zone, the ETH/USD pair might consolidate for a few more days.

For now, the traders can retain the stop loss on the long positions at $150.XRP/USD. XRP has dipped to the 20-day EMA, which is a strong support.

Conversely, if the bears sink the price below the 20-day EMA, the XRP/USD pair can dip to the 50-day SMA. Below this level, the price can drop to the critical support at $0.24508.

The altcoin can now dip to the moving averages, which is likely to act as a strong support.

Traders can retain a stop loss on long positions at $235.LTC/USD. Litecoin has been trading between both the moving averages for the past few days.

Traders can protect their long positions with a stop loss of $47.EOS/USD. EOS has held the support at the moving averages, which is a positive sign.

If buyers can push the price above $3.5759, the altcoin is likely to pick up momentum and move up to $4.8719.

Traders can reduce the risk by trailing the stop loss on the long positions to $0.056.TRX/USD. Tron has dipped to the critical support at $0.018660.

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