If the price sustains above the downtrend line, we anticipate the start of a new uptrend.
If the bulls can push the price above the 20-day EMA and sustain it, a rally to $173.841 is possible.
We would recommend a long position after the price sustains above the 20-day EMA. Contrary to our assumption, if the ETH/USD pair fails to break out and sustain above the 20-day EMA, the bears will attempt to sink it to the recent low of $131.484.
Unless the price climbs and sustains above the 20-day EMA, the advantage will remain with the bears.
We will wait for the price to sustain above the 20-day EMA before turning positive.
We will wait for the price to make a decisive move above $16.50 before proposing a trade in it.
If the bears sink the price below $92.693, the BSV/USD pair can drop to the next support at $78.506.
The pair will turn bullish if the buyers can push the price above the downtrend line and the overhead resistance at $113.96.
Unless the price moves up sharply and sustains above $0.06, the bears will continue to hold the advantage.
Conversely, if the bulls can carry the price above $0.06, it will attract buyers.
Price Analysis 04/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX
Published on Dec 4, 2019
by Cointele | Published on Coinage
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