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Market data is provided by the HitBTC exchange.
In 2018, each subsequent fall in the encrypted markets was followed by a weak recovery. This is in stark contrast to 2017, during which each fall was followed by a "V" shaped recovery. The total market capitalization of all cryptocurrencies is around $ 215 billion, after falling below $ 190 billion on August 14
The next triggering factor is likely to be the decision of the Securities and Exchange Commission (SEC ) US on the Bitcoin exchange – traditional funds (ETF). If a new proposal from the ETF is rejected again, we may witness another downward move
On the other hand, if an ETF proposal is approved, cryptographic markets may skip higher, signaling the formation of a fund.
Let's see what digital currencies are relatively safe and can therefore be purchased.
BTC / USD
Bitcoin (BTC) posted a lower low in the last five consecutive days, but on the rise $ 6,617.5 acted as one of the major roadblocks. Currently, the 20-day EMA and the downtrend line are all converging close to $ 6,617.5, so we expect strong resistance at this level.
If the bulls manage to claiming above the environmental resistance, the probability of a return to $ 8.566 increases because the failure of a negative model is a bullish signal.
Therefore, we suggest buying over $ 6,750 with the stop loss at $ 5,900. for this trade We will add the remaining 50% if the BTC / USD pair is higher than $ 7,000.
If the bulls can not get out of $ 6,617.5, other consolidation days are probable, negative only under $ 5,900. 19659007] ETH / USD
The pullback on Ethereum (ETH) hit a wall and dropped from $ 321.1 Currently the bulls are trying to defend the $ 280 line.
If the ETH / USD pair remains above the support zone of $ 277 – $ 280, the bulls will make another attempt to exit $ 323.33. If successful, the upward move can reach $ 358, which could result in a stiff resistance.
If bears break below $ 277, a new test of the August 14 lows will be on the cards. Both moving averages are sloping down and the RSI is close to the oversold territory, which shows that the sellers still maintain the advantage. Therefore, we will have to wait for the trend to change before suggesting an exchange on the pair.
XRP / USD
Ripple came out of the 20-day EMA on 17 August but failed to support the higher levels. It fell below the moving average on 18 August and has since been traded below it. It has a slew of resistances until it breaks out of the 50-day SMA.
The withdrawal of the past few days has corrected the oversold condition of the RSI: if the bulls burst by $ 0.37390, the pair XRP / USD can extend the pullback to $ 0.5 [19659004] If bears sink virtual currency below $ 0.31214, the decline may extend to $ 0.29088 and then to the intraday lows of August 14th. If we obtain a reliable purchasing situation, we might consider the hypothesis of long positions close to the $ 0.38 mark. [19659007] BCH / USD
Bitcoin Cash returned to the segment on 17 August but had to face a strong resistance to the 20-day EMA. Currently, the price has been re-adjusted close to the critical support of $ 537.8221.
On the upside, a rupture between the 50-day SMA and the downtrend line will indicate that the bearish moment is going down.The first resistance is in the $ 880- $ 891 zone. exceeded, the next target is $ 1,200.
We will wait for prices to continue above the bearish trend line before recommending any negotiations.
EOS / USD
The 20-day EMA continues to behave like a rigid resistance for EOS, but in the last two days it has not given much ground, which is a positive sign. We also like the way the bulls defended critical support of $ 3.8723. This shows the demand at lower levels.
On the downside, if the bears break below $ 4,8121, a drop to $ 4,4036 is possible. [19659007] XLM / USD
Stellar has difficulty overcoming the $ 0.25 level and dropped from $ 0.24684115 on August 18. He could now correct $ 0.205.
A break of the $ 0.25 level can bring the XLM / USD pair to the bearish trend line where it could face resistance. We keep the existing purchase recommendation made on August 15th.
Our bullish view will be invalidated if bears sink the digital currency below $ 0.184. We can not find purchase configurations until the price stays in the range between $ 0.25 and $ 0.184.
LTC / USD
Litecoin is on a downward trend as both moving averages are down and even RSI is in negative territory. As expected, the bears defend the 20-day EMA.
If bears break under the support of $ 49,466, the LTC / USD pair will resume the downward trend and will reach $ 40.
Cryptocurrency will show the first signs of a trend change when it breaks and sustains above the downtrend line. to traders to wait for the trend to change before starting any long position on the pair.
ADA / USD
After a strong support has been broken down, it becomes a strong resistance, that on Cardano, where the previous strong support of $ 0.111843 is now acting as a strong resistance.
The 20-day EMA is down, while the 50-day SMA it flattens. We will become positive on the ADA / USD pair only after passing the downtrend line and the 50-day SMA.
On the downside, any break in the August 14 lows may result in a new long-term test support of $ 0.078.
XMR / USD
Monero is in a downward trend, as the price is below both the moving averages and the long-term downtrend line. The bulls broke the 20-day EMA on 18 August but failed to sustain the highest levels. In the last two days, the cryptocurrency has consolidated close to the moving average, which is a positive sign.
If the XMR / USD remains above 20-day EMA, a 50-day SMA rally is likely, and bears breaking below $ 94.3 are likely to fall to $ 84.
Both averages furniture are flattening, which indicates consolidation for the next few days. We want to try to establish positions when we have a well-defined range.
IOTA / USD
IOTA is in a downturn with both moving averages in downhill and the RSI into negative territory, while the pullback is facing a resistance close to the $ 0.575 mark. [19659004] If the bulls leave the 20-day EMA, they can bring the IOTA / USD pair to the SM A 50 day, which will probably offer strong resistance.
On the downside, any disruption of the August 14 lows increase the likelihood of a decline to $ 0.33. We can not yet find a confirmation of a fund, so we are not suggesting a pair trade.
Market data is provided by the HitBTC exchange. Analysis charts are provided by TradingView.
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