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.
Price Analysis 14/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM
Published on Aug 14, 2019
by Cointele | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.