If the LTC/USD pair breaks down from the symmetrical triangle, it will become negative and slide to $175. Trading is likely to be volatile until the price breaks out or breaks down. Litecoin continues to trade inside the symmetrical triangle pattern. The IOTA/USD pair might become bearish and slide towards $1.70 if this level breaks. Therefore, we believe that the bulls will continue to defend this level and the cryptocurrency will gradually recover to $4.34 and thereafter to $5.59 levels. The lower end of the range has held for more than a month. However, in the short term, the range has shrunk to $3.03-$4.34. In the medium term, IOTA is range bound between $3.03 and $5.59. We expect a few days of the range bound action in the XRP/USD pair. If the bulls are unsuccessful in holding the trendline support, a slide to $1.40 is possible, which should hold. However, we believe that any recovery will face stiff resistance between $2.46 and $2.80. After more than 50 percent correction within a week, we may see an attempt to bounce. The bulls are trying to defend the uptrend line and the 20-day EMA.

10, the price touched a low of $1.61, which is close to our projected levels. We had predicted a fall to $1.40 levels on Ripple on Jan. On the downside, the $2,000 to $2,291 support zone is important, because if it breaks, a slide to $1,733 and thereafter to $1,200 is likely. The next trend will start once the BCH/USD pair breaks out or breaks down. Trading will be volatile inside this range. However, if the bulls fail to do that and sustain above the range, range bound action is likely to continue for a few more days. Above this level, a retest of the highs is also possible. In case the price breaks out of the upper end of the range, it may move to $3,249. 8.Ĭurrently, the cryptocurrency has strong buying support.

BCH/USDīitcoin Cash continues to trade in the $2,291 - $2,770 range. Still, we can see a fall to the 20-day EMA if the bears succeed in pushing prices back into the channel. If this holds, we can expect a few days of range-bound trading. In a drop, the resistance line of the ascending channel will be the first support. We expect the ETH/USD pair to enter a period of correction/consolidation for the next few days. Therefore, traders who have entered long positions at lower levels can book partial profits in this resistance zone. We believe that the cryptocurrency will find it difficult to break out of the overhead resistance zone between $1,310 and $1,434. ETH/USDĮthereum has broken above $1,310 levels, which was the target objective as mentioned in our previous analysis. But we think there are small chances of that happening. Our bearish view will be invalidated if the BTC/USD pair turns up and breaks above the $17,200 level. If this support holds, the cryptocurrency is likely to continue to trade inside the symmetrical triangle.īut if the price breaks down of this critical support zone, a fall to $8,000 is likely, with minor support at $10,705 levels. As a result, Bitcoin has again fallen to the 50-day SMA.īitcoin is currently trading at critical support levels, where it has support from the 50-day SMA, the trendline support of the symmetrical triangle and the neckline of the head and shoulders pattern. Recovery attempts faced resistance at the downtrend line and the 20-day EMA. 8, though the bulls purchased the fall to the 50-day SMA, they could not capitalize on the gains. Let’s see if we can find out any buy setups. In the past few days, they have lapped up stocks of the companies that have connected with Blockchain or cryptocurrency.Įven JPMorgan Chase CEO Jamie Dimon, in a recent exclusive interview to Fox Business, stated that he regrets calling Bitcoin a fraud.Īs traders, our interest is to buy the cryptocurrencies that will offer us maximum profits. The jump in Kodak’s stock prices points to the crypto craze infecting even traditional investors. Yet it’s unpredictable whether it will boost the company’s capitalization, but at least the company has been quick in adopting the technology of the future. This news led to a spike in Kodak stock prices. On Jan 9, the photography giant Kodak announced a launch of its cryptocurrency KodakCoin scheduled by the end of the month. Every investment and trading move involves risk, you should conduct your own research when making a decision. The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of.

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