As stated in the previous article last week, if the resistance level $4200+ is not broken then we would hit the price around $3500 range. Hence it tested the $3478 price level after a drop of 15% this week.
It needs to hold the $3400-$3500 support level and break the $4200 level in the coming days to confirm bullish momentum otherwise we might see the <$3000 level in the coming weeks.
It has tested the $3500 price level recently and bounced to $3700+ level.
The bounce (surge) looks weak (less buying volume) and we might see <$3000 level in the coming days/weeks if the $3400 support level is broken.
Note: It can also range between $3200-$4200 levels for a few days before making a significant move up or down.
Ethereum has seen a rise in price due to the hard fork fever but couldn't manage to sustain momentum and dipped 25%+ recently after the hard fork got over.
After the recent drop, it tested the support level of $116-$117 and jumped (15%+) to $131 price level recently.
If it manages to hold this level $116+ and breaks $151+ price level then we might test $200 level in the coming days/weeks.
It manages to break the long term downtrend-line (dotted line) but couldn't sustain above it long enough due to recent sell-off.
If it fails to hold the $107-$111 level then it might see price level below $80 in the coming days/weeks.
Overall the recent case of price movements for ethereum has been "Buy the rumor, Sell the news" example which happens quite often in cryptocurrency.
Ripple recently tested the 0.40 USD resistance level and couldn't break the same with dropping to $0.32 level (19%) recently.
If he manages to hold $0.32 price level and eventually breaks the 0.38$ level then it might be slightly bullish for the asset.
There is a lack of buying interest (volume) and if It broke the $0.32 support level and closes below the green line with strong sell volume then it will be a highly bearish case for ripple with a target of price level below $0.30.
As mentioned in the previous article last week, Bitcoin Cash has been under correction(dropping) and it dropped further 20%+ since last week.
After surging 200%+ in the mid of December, It has dropped 50% at the time of writing. Though such drop is usual after such price surge it needs to hold $123-$109 price level to continue bullish momentum. Bullish confirmation will be when it breaks $220+ level in the coming days/weeks with a target around $350+ price level
If it doesn't hold the $123-$109 then it will slightly bearish for the asset and we might see the price decline below $100 in the coming days/weeks.
EOS has recently shown a strong upward trend last month and surged 90+% strongly. It has dropped in price about 25%+ since the last post.
It tested the Resistance (red bar) at $3.0 price level and dropped 25% recently.
If it manages to hold the support level (green bar) and breaks the $3 price level, then it might test the $4.4 level with two major hurdles to surpass which is the long term-downtrend line (dotted) and 200 Moving average (Red line) line.
Also, there is a bullish catalyst(news) on 26th January'19 with Parsl reward drop (SEED coins) for EOS holders.
It has dropped recently with strong sell volume(pressure) which shows signs of stronger bear So if it doesn't hold two support level(green bar) then we might see less than $1 price level in the coming days/weeks.
The overall market is looking pretty weak at the moment as there are not many catalysts (news) and buying interest for the crypto assets. We might further correction before making any significant bullish move in the coming days/weeks. Also, attacks on ETC blockchain, Hacks on exchanges like Cryptopia has caused a drop in the market overall so it's risky to keep crypto assets on the Exchanges. Also, CBOE has withdrawn its Bitcoin ETF application which is not good for the crypto market overall in terms of adoption.
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2019-08-24 06:39:32.392749 | 2 min