Will the price move higher before Christmas? We will have to wait and see.
Contrary to our assumption, if the price turns down from the current levels or from the overhead resistance at $1.85, a few days of range-bound action is likely.
A bounce from this support will keep the price inside the large range between $4.4389 and $1.9101.XRP/USD. Ripple released a total of 1 billion XRP tokens from its escrow wallet on Dec. 2 but returned it back within seven minutes.
We would turn positive if the price sustains above $0.24508.
If the bulls fail to push the price above $0.24508, the bears will again attempt to sink the price back below $0.20041.
If the price turns down from the moving averages, a drop to $38.83 to $45.4494 support zone is likely.
Conversely, if the bulls succeed in propelling the price above the moving averages, a rally to $98 and above it to $121.4270 is likely.
Will these steps help in boosting the price of Binance Coin? Let's see what the technicals are showing.
If the bulls fail to propel the price above $16.50 within the next few days, the bears will attempt to sink the price back below $14.2555.
A breakdown of the support will be a huge negative and can drag the price to $11.30.
Top-5 Cryptos This Week: XTZ, ATOM, XRP, XMR, BNB
Published on Dec 8, 2019
by Cointele | Published on Coinage
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