Although Bitcoin has managed to maintain its dominance throughout the bear market, we are seeing some major cryptocurrencies outperform it.
The targets to watch on the upside are $65.561, and above it $69.279.However, if the digital currency turns down from either of the overhead resistances and plunges below $23.090, the downtrend will resume.
Can Binance Coin break into the top ten cryptocurrencies by market capitalization? Let's find out.
As the 20-week EMA is just above the channel, we recommend traders to wait for a close above the 20-week EMA before entering long positions.
In the case of an uptrend, it can rally to $12, and above it to $15. However, if a consolidation ensues, we expect it to hold above $5.4666.Conversely, if the bears sink the price back into the channel, it will indicate weakness and a retest of the low at $4.1723848 will be probable.
If the bulls push the price above $0.45097, we expect a double bottom formation that will have a pattern target of $0.62399.
BTC/USDThe current bear market in Bitcoin has become the longest in its short trading history, overtaking the 2013-2015 bear phase.
Conversely, if the range expands to the upside and breaks out of the downtrend line, a move to $4,255, and above it to $4,914.
The TRX/USD pair triggered our buy recommendation when it closed above the top of the range last week.
If the bulls push the price back above the range and scale the previous week's high at $0.03128011, we can expect the rally to reach $0.04, and if this level is also crossed, the upward move could continue to $0.05218328.
Top 5 Crypto Performers Overview: Litecoin, Binance Coin, Ripple, Bitcoin, Tron
Published on Feb 3, 2019
by Cointele | Published on Coinage
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