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Tuesday

20 August 2019

Top-5 Crypto Performers: BNB, BTC, XMR, LEO, DASH

Top-5 Crypto Performers: BNB, BTC, XMR, LEO, DASH


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The price did not close (UTC time) below the 20-week EMA, which is a positive sign.

If bears break below $24.1709, the pair will enter a downtrend and might correct to $18.30.

The uptrend will resume if bulls sustain the price above the uptrend line.

The failure of bulls to sustain above the downtrend line is a negative sign.

However, the trend remains up and every dip should be viewed as a buying opportunity until the price remains above the 20-week EMA. .

If the price rises and sustains above the downtrend line within the next couple of weeks, we anticipate a rally to the recent highs of $13,973.50.

Contrary to our assumption, if the BTC/USD pair reverses direction from current levels and plummets below the 20-week EMA, it will signal profit booking by bulls and selling by bears.

The XMR/USD pair rallied above the 20-week EMA, but could not reach our first target of $107.

If the price bounces off the 20-week EMA, we anticipate bulls to again attempt to propel the price above $98.2939.

Conversely, if the price dips below the 20-week EMA, but stays above $81.4151, it will remain range-bound for a few weeks.

Currently, the price has bounced off the support at $1.20 and is attempting to rise above the 20-day EMA.

Conversely, if the price fails to scale above $1.40, the range bound action between $1.20 and $1.40 will continue for a few more days.

We suggest that traders wait for the price to break out and sustain above the 50-day SMA before turning positive. .

The price has been trading below both moving averages for the past four weeks and the RSI is in the negative zone, which is a bearish sign

Unless the price quickly rises above the moving averages, we expect bears to attempt a breakdown of $95.4264

Conversely, if the bulls succeed in propelling the pair above both moving averages, we expect a rally to $160 and above it to $188.5598

We suggest traders wait for the price to rise above both moving averages before initiating long positions

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cointelegraph.com
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