Conversely, if the bears sink the price below the 20-day EMA, a drop to $131.484 is possible.
If the price turns down from this level, it is likely to find support at the 20-day EMA. A bounce off the 20-day EMA might offer a low-risk buying opportunity.
If the bulls propel the price above $0.2326, a rally to $0.31503 is possible.
BCH/USD. Bitcoin Cash has not been able to sustain the price above $241.85, which shows a lack of buyers at higher levels.
If the altcoin bounces off the 20-day EMA, we expect the bulls to make another attempt to push the price above $50.LTC USD daily chart.
The traders can hold their long position with stops placed at $38. Contrary to our assumption, if the bears sink the price below the 20-day EMA, the LTC/USD pair will turn negative.
The price might now dip to the immediate support at the 20-day EMA.BNB USD daily chart.
If the price breaks out and closes above $120, the traders can trail the stops on the long position to $108. On the other hand, if the price slips below $110, we anticipate the bulls to defend the 20-day EMA. Our bullish view will be invalidated if the bears sink the BNB/USD pair below the 20-day EMA.XMR/USD. The sharp rally in Monero had carried it above the overhead resistance at $57.1199.
The price can now drop to the 20-day EMA. If the level holds, we expect the bulls to make another attempt to scale and sustain above $57.1199.
Our bullish view will be invalidated if the bears sink the XMR/USD pair below the 20-day EMA. Such a move can drag the price back to $44.50.ADA/USD. Cardano has again made it to the top ten cryptocurrencies by market capitalization.
Price Analysis Jan 8: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XMR, ADA
Published on Jan 8, 2020
by Cointele | Published on Coinage
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