Contrary to our assumption, if the bulls fail to sustain the price above the 200-day SMA, the BTC/USD pair might dip back to the 20-day EMA, which is likely to act as strong support.
The traders can book partial profits at $195 and trail the stops on the remaining position to about $170. Contrary to our assumption, if the bulls fail to scale and sustain the price above the overhead resistance zone, the ETH/USD pair might dip back into the $173.841 to $157.50 range.
XRP/USD. XRP scaled above the overhead resistance at $0.2326 on Jan. 28.
If the bulls push the price above the resistance zone, a rally to $0.34229 will be on the cards.
If the buyers can push the price above $403.88, the BCH/USD pair might move up to $480 where it is likely to hit a wall.
If the bulls can push the price above the triangle and the overhead resistance at $337.8, a rally to $458.74 is possible.
Above $18.50, the next level to watch out for is the 200-day SMA at $19.89 and above it $21.80.
The bulls scaled above the overhead resistance at $0.0461161 on Jan. 27, which triggered our buy recommendation given in an earlier analysis.
If the bulls fail to push the price above the resistance, the traders can book partial profits and raise the stops on the remaining position to breakeven.
Conversely, if the bulls easily carry the price above $0.0560221, the next target is $0.0652290.
Price Analysis Jan 29: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ETC, ADA
Published on Jan 29, 2020
by Cointele | Published on Coinage
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