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Tuesday

29 September 2020

Top 5 Cryptocurrencies to Watch This Week: BTC, BNB, NEO, YFI, LINK

Top 5 Cryptocurrencies to Watch This Week: BTC, BNB, NEO, YFI, LINK


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However, if the bulls can propel the pair above the 20-day EMA and sustain the higher levels for three days, it will suggest that the correction is over.

The 4-hour chart shows that the bears are aggressively defending the $10,625 resistance but if they fail to sink the price below the $10,200 support, the bulls will once again try to clear the overhead resistance of the range.

Contrary to this assumption, if the bears pull the pair down below $27.1905 it will indicate that the current move might have been a bull trap.

The failure of the bears to sink and sustain NEO below the breakout level of $16.72441 attracted buying by the bulls who pushed the price to $21.97869 today.

The bears are defending the $22–$22.82612 resistance zone aggressively but if the NEO/USD pair rebounds off the 20-day EMA ($18.54), the bulls will once again attempt to push the price above the resistance zone.

However, if the bears sink the price below the 20-day EMA, the pair might drop to $16.72441.

If the pair rebounds sharply from $31,011.37, the bulls will make one more attempt to push the price above the overhead resistance at $43,966.31

6 but the positive sign is that the bears have not been able to sink the price below the trendline, which shows buying at lower levels

If the LINK/USD pair again rebounds off the trendline, the bulls will make one more attempt to push the price above $13.28

This level is again likely to act as a resistance but if the bulls can push through it the pair could rally to $17.7777

However, if the bears sink the price below the trendline, it will suggest weakness, which could result in a drop to $8.908

The 4-hour chart shows that the bears are aggressively defending the $13.28 levels but the positive sign is that the bulls have not allowed the price to dip below the $11 level. 

If the pair rebounds off the current levels or from the trendline, the bulls will make one more attempt to push the price above the $13.28 resistance

This bullish view will be invalidated if the bears sink and sustain the price below the trendline

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