Binance CEO Changpeng Zhao believes that the upcoming Bitcoin halving has not been priced in to the digital asset's current price action.
Contrary to our assumption, if the bulls fail to push the price above $10,500, the bears will make another attempt to sink the price to the critical support at $9,097.
Above this level, the next target to watch out for is $318 and above it $366. Traders can protect their remaining long positions with stops at $230. Conversely, if the bears sink the price below $235.70, the ETH/USD pair will turn weak and can dip to $197.75.XRP/USD. XRP reversed direction from just below the overhead resistance at $0.31503 on Feb. 19.
If the price does not move up quickly, the bears will make another attempt to sink the price below the 50-day SMA. A move below $352.72 can drag the price to $306.78.
If the bulls can push the price above the 20-day EMA, a move to $337.80 and above it to $382.47 is possible.
The pair will weaken if the bears sink and sustain the price below the 50-day SMA at $3.93.BNB/USD. Binance Coin dipped to an intraday low of $21 on Feb 20, which triggered our recommended stop loss on the long positions.
Currently, the price has bounced back above $21.80 but the bulls are struggling to sustain the price above the 20-day EMA at $22.44.BNB USD daily chart.
If the BNB/USD pair fails to climb above $23.5213, the bears will again attempt to sink the price below $21. If successful, a drop to the 50-day SMA at $19 is possible.
Conversely, if the bulls can push the price above $23.5213, a move to $27.1905 is possible.
Conversely, if the bears sink the price below the triangle, the pair might enter a deeper correction and drop to $3. We will wait for the price to break out of the triangle before proposing a trade in it.
Price Analysis Feb 21: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK
Published on Feb 21, 2020
by Cointele | Published on Coinage
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