If the price bounces off sharply from the 20-day EMA, the bulls will again attempt to carry the BTC/USD pair above the 200-day SMA. If successful, a rally to $10,360.
A break above the 200-day SMA can carry the ETH/USD pair to $197.75 while a break below $157.50 can sink the price to the 20-day EMA at $153. The pair will turn negative on a break below $151.829.
If the bulls can carry the price above the 200-day SMA, a move to $0.31503 is possible.
Currently, the price is stuck between $306.78 and $360. If the bulls can push the price back above $360 a retest of $403.88 and above it $423.40 is possible.
In our previous analysis, we had suggested traders trail the stops on the remaining long positions higher after the price broke above $360. We anticipate the trailing stops have been hit.
A break above $18.50 can carry the price to the 200-day SMA and above it to $21.80.
For the past two days, the bulls failed in their attempts to push the price above the 200-day SMA. However, the positive thing is that the altcoin has not given up much ground, which shows buying on dips.
If the bulls can propel the price above the 200-day SMA, the XLM/USD pair is likely to extend its up move to $0.088708.
If the bulls fail to push the price above the 200-day SMA, the bears will attempt to sink the price to the 20-day EMA, which is likely to act as a strong support.
If the bulls can scale the price above $0.0461161, the altcoin is likely to pick up momentum.
Price Analysis Jan 20: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XLM, ADA
Published on Jan 20, 2020
by Cointele | Published on Coinage
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