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Monday

23 September 2019

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

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


smart summary beta

The trend will turn bullish on a breakout and close (UTC time) above the downtrend line of the symmetrical triangle.

If bulls struggle to propel the price above this level, we will suggest booking partial profits and trailing the stops higher.

Our neutral view will be invalidated if the ETH/USD pair turns down either from the current level or from the 50-day SMA, and plunges below $163.755.

If bulls push the price above the 20-day EMA, the XRP/USD pair can move up to the 50-day SMA.

Above this level, the pair will signal the end of downtrend.

Our view of a trend change will be invalidated if the price turns down from the current level or from the 50-day SMA and plummets below the $0.24508–$0.225 support zone.

If the BCH/USD pair turns down from this level, it might remain range-bound between the neckline and $360 for a few days.

Conversely, if the pair turns down from current levels and plummets below the neckline of the head-and-shoulders pattern, it can drop to $166.98 and below it to $105.

We will wait for the price to move above $360 before suggesting a trade in it.

The 50-day SMA is just above the downtrend line, hence, we expect strong selling at this resistance.

We will watch the price action above the downtrend line for a couple of days and then suggest a long position.

If the pair turns down from the downtrend line, it might remain range-bound for a few days.

Above this level, a rally to $32.50, followed by a move to lifetime highs is likely.

We will wait for the price to sustain above the 50-day SMA before proposing a trade in it.

Our bullish view will be negated if the pair turns down from the downtrend line and breaks below $3.1534.

Above this level, a retest of lifetime highs is likely.

Conversely, if the pair turns down from current levels and plunges below $120, it can drop to the next support of $107.

Though it broke out of the 20-day EMA, it has not been able to scale above the 50-day SMA.

A breakout of this range can push the price to the 50-day SMA, which will indicate a probable change in trend.

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