If the BTC/USD pair slips below $12,000, the first support on the downside is at 20-day EMA. If the pair bounces off this support, the bulls will again attempt to rise above the recent highs of $13,973.
The bears have broken down of 20-day EMA and the price is likely to drop to the support at 50-day SMA.A breakdown of the 50-day SMA will signal weakness because the ETH/USD pair has not broken below this support since February 18.
BCH/USDOur buy recommendation in Bitcoin Cash did not trigger as it could not close above $423. The price has turned down from the moving averages and is at the support line of the channel.
If the BCH/USD pair breaks down and closes below the support line of the channel, it can fall to $280. Both the moving averages are close to completing a bearish crossover, which suggests that bears are back in the game.
Contrary to our assumption, if the bulls defend the support line of the channel, the pair might move up to the moving averages, above which a rally to $450 is probable.
A breakdown of the channel can drag the price to the $66-$71 support zone.
If the LTC/USD pair holds above the support line of the ascending channel, the bulls will attempt to push it above the previous support-turned-resistance of $111.8994.
The bears will now attempt to sink the price back to the critical support of $28.7168.
We will wait for the price to rebound off the support before suggesting a long position.
Currently, the price has nearly broken down of the $0.077-$0.073 support zone.
Price Analysis 10/07: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, TRX, ADA
Published on Jul 10, 2019
by Cointele | Published on Coinage
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