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Tuesday

20 August 2019

Price Analysis 09/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM

Price Analysis 09/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM


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Nicholas Gregory, CEO of blockchain firm CommerceBlock, has warned that a no-deal Brexit will “create turmoil and volatility across two major fiat currencies,” which will seal Bitcoin’s place in the global economy as the vulnerability of fiat currencies becomes apparent.

Grayscale Investments did a study, which shows that Bitcoin is uniquely poised to act as a safe haven due to its value potential and its spending characteristics.

Both moving averages are sloping up and  the RSI is in positive territory, which shows that bulls still hold the advantage.

If this fails to hold, the ETH/USD pair might plummet to $164 and below it to $150.

The XRP/USD pair will start a new downtrend below $0.27795 that can drag it to $0.19.

Below that level, the digital currency will become extremely negative.

Both moving averages are sloping down and the RSI has dipped back into the negative zone, which shows that bears are back in action.

A break below $83.65 will be a negative sign that can drag the LTC/USD pair to $76.7143.

Below this level, the next support is at $69.9227, which is the 61.8% Fibonacci retracement level of the recent rally.

Conversely, if bears sink the pair below $24.1709, the next level to watch on the downside is $18.30.

Both moving averages are sloping down and the RSI has dipped into the negative zone, which indicates that bears have the upper hand.

However, if bulls defend the $3.8723–$3.30 support zone, the EOS/USD pair might consolidate for a few days.

Both moving averages are trending down and the RSI is in the negative territory, which shows that bears have the upper hand.

Nevertheless, if the bulls defend the support at $136.890, the BSV/USD pair will again try to break out of the 20-day EMA.

The 20-day EMA is sloping up and the RSI is in the positive zone, which shows that buyers have the advantage in the short term.

However, if the XMR/USD pair breaks below the 20-day EMA, it will weaken and can drop to $77.

If this support also cracks, the digital currency will start a new downtrend that can drag it to $0.05. 

Our bearish view will be invalidated if the XLM/USD pair rebounds sharply from $0.07245 and scales above the 20-day EMA

If that happens, bulls will try to push the price to the 50-day SMA

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