Price Analysis 14/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM

Published on by Cointele | Published on

The failure of bulls to push the price above the uptrend line and the 20-day EMA shows a lack of buyers at higher levels.

XRP/USD. XRP is again correcting toward the critical support of $0.27795.

The next support to watch on the downside is $0.19.Our assumption will be invalidated if the XRP/USD pair bounces sharply from $0.27795 and rises above the 20-day EMA. If the price sustains above the 20-day EMA, it will attempt to move up to the 50-day SMA. A breakout of $0.34229 will increase the probability of a move to $0.45.

BCH/USD. Bitcoin Cash broke above the overhead resistance of $345.80, but it turned down from the 50-day SMA. A failure to scale the 50-day SMA has attracted selling that has dragged the price back below the 20-day EMA. The next drop towards $300 is likely to break it and challenge the neckline of the head and shoulders pattern.

EOS/USD. After being stuck between the 20-day EMA and $3.8723 for the past few days, EOS has now broken down of the support.

If the price does not bounce above the 20-day EMA soon, the next support at $3.30 might also break down.

Conversely, if bulls defend $3.30 and push the price above the 20-day EMA, the EOS/USD pair can rise to $4.8719.

A breakout of this level can start a recovery that can carry the price to $6. Hence, we might suggest a long position if the price sustains above $4.8719.

A breakdown of the channel can drag the price to $77 and below it to $72. Therefore, traders can keep the stop loss on the long position at $77. We are not recommending a closer stop loss, because sometimes the price falls only to collect all the existing stops before turning back up.

If bulls can force a turnaround from current levels and propel the price above the moving averages, the XMR/USD pair will make another attempt to break above the overhead resistance of $98.2939.

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