Price Analysis 30/07: BTC, ETH, XRP, LTC, BCH, BNB, EOS, BSV, XLM, ADA

Published on by Cointele | Published on

Now, if bulls can carry the price above the moving averages, it will signal strength.

If bulls can carry the price above the 20-day EMA and $0.34229, it will be a bullish sign.

The traders can wait for the price to break out of $0.34229 before initiating long positions.

We expect the bulls to defend $69.9227, which is the 61.8% Fibonacci retracement level of the rally because if this cracks, the decline can extend to $58. The traders can wait for the price to breakout and sustain above the downtrend line before turning positive.

If bulls push the price above the 20-day EMA and the overhead resistance of $345.80, it will complete an ascending triangle pattern that has a target objective of $440.37.

EOS continues to trade close to $3.8723, which is an important support.

Failure of the price to move above the 20-day EMA shows that bulls are not aggressively buying at these levels.

Unless they push the price back above the 20-day EMA quickly, bears will once again try to sink the digital currency into the bottom half.

Conversely, if bulls push the price above the resistance line of the descending channel, the pair might either start a new uptrend or consolidate in a range for a few days.

We will turn bullish if the price sustains above the 20-day EMA.ADA/USDCardano has been trading inside the symmetrical triangle for the past few days.

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