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Monday

23 September 2019

Price Analysis 06/09: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM

Price Analysis 06/09: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM


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Our bullish view will be invalidated if the price reverses direction from the downtrend line and breaks below the moving averages.

If the price breaks out and sustains above 20-day EMA, it will be the first sign that the downtrend is over.

Our bullish view will be negated if the pair turns down from 20-day EMA and dives below $163.755.

A breakout of the 20-day EMA will signal a probable change in trend because bulls have not been able to sustain above it since June 27. .

However, if the XRP/USD pair turns down from current levels or the 20-day EMA and plunges below the $0.24508–$0.225 support zone, it can correct to $0.19.

However, if it turns down from $360, it will remain range-bound for a few days.

Our bullish view will be invalidated if the pair turns down and plummets below the neckline of the head-and-shoulders pattern.

If the price rises above the 20-day EMA, it will be the first indication that buyers are back in the game.

If the price turns down either from the 20-day EMA or from the downtrend line, bears will try to sink it to the next support of $58.

If the price turns down from the 20-day EMA, bears will attempt to sink it to $18.30.

This is an important level to watch out for because if this breaks down, the trend will turn negative.

The price has returned from the 50-day SMA on three previous occasions, hence, if this level is scaled, it will signal strength.

This shows that both bulls and bears are undecided about the next direction.

A breakout of the 20-day EMA will be the first indication that buyers are coming back into action.

If this level breaks down, the decline can extend to $2.20.

Our bullish view will be invalidated if the pair turns down from the 50-day SMA and breaks down of the triangle once again. .

Hence, a breakout of the 20-day EMA will be the first sign that a trend change is likely

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