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Market data are provided by the exchange HitBTC .
Mike Novogratz, founder and CEO of the cryptocurrency Galaxy Digital Capital Management, called the bottom in cryptocurrencies on September 13, while on the contrary the chief commercial officer of BitPay, Sonny Singh believes that Bitcoin can reacquire in 2019 but that altcoins "will not return never again". He said the next trigger that can bring higher Bitcoin is the entry of institutional actors.
Morgan Stanley is the last Wall Street giant who plans to allow his customers to exchange Bitcoins using commercial exchanges, according to Bloomberg sources. Investors continue to pay money in funds linked to the blockchain technology. The US-based venture capital company Ribbit Capital aims to raise $ 420 million for its last fund, a 40% increase over the previous venture that attracted $ 300 million.
New research of fintech analysts Juniper House has found 65% of large companies – employing a minimum of 10,000 employees – are "considering or actively engaged" in the distribution of blockchain. This shows that the fundamentals of the industry are improving. So, will prices follow the higher fundamentals? Let's find out.
BTC / USD
Bears did not contest the support zone $ 6,075- $ 5,900 as we expected. Bitcoin broke out from $ 6,500 on September 13, but is currently facing a 20-day resistance to EMA. This shows that sellers are active on pullbacks. If the bulls leave the 20-day EMA, a 50-day SMA rally is likely to occur, followed by a shift to the downtrend line of the descending triangle.
If the BTC / USD drops from the level current and keeps under $ 5,900, will complete two bearish patterns – a head and shoulders and a downward triangle The goal of the model of this breakdown is much lower, but we expect strong support at $ 5.450 and $ 5,000.
If the bulls will hold the next dive over $ 6,200 and the 20-day EMA breakout we might suggest opening a small position, until then, we suggest traders to stay on the sidelines and wait for a purchase configuration reliable for their establishment
ETH / USD
We anticipated a withdrawal in our previous analysis and Ethereum rallied $ 224.21 from the $ 167.32 minimum on September 12. However, the trend remains unchanged as both moving averages are trending towards the bass or and RSI near the oversold zone.
If the scale of the bulls exceeds the 20-day EMA, the subsequent environmental resistance is the downtrend line of the downward channel and the 50-day SMA, located just above the canal.
So, we will have to wait for the ETH / USD pair to form an inversion model before proposing long positions.The critical level to keep under control is $ 167.32, below which the decline can go up to $ 136.12.
XRP / USD
Ripple it is finding it difficult to sustain above the $ 0.27 level. A break in the support zone of $ 0.27- $ 0.24508 can bring down prices to $ 0.24001 and below to $ 0.20.
Both moving averages are or downwards and the RSI is negative, which shows that the sellers are in charge. The XRP / USD pair has not exceeded the 50-day SMA since May 17. If the bulls can survive above the simple moving average, they will indicate the purchase and a probable change in trend, we will expect prices to rise above the bearish trend line before recommending a trade.
BCH / USD
Bitcoin Liquidity remains in a strong downward trend with both declining moving averages and RSI in negative territory.
The pullback from near the $ 400 level is facing a rigid resistance at the $ 475 mark. If the BCH / USD pair breaks from $ 400, it could fall to $ 300 and $ 282.
On the upside, if the bulls are placed above the EMA at 20 days, a 50-day SMA rally is likely to take place.The virtual currency will show signs of a trend change if it exits the downtrend line.We will have to wait for the formation of a reversal model before suggesting long positions. [19659006] EOS / USD
EOS has faced resistance at $ 5.65 in the last two days, just below the 50-day SMA. [19659004] A 50-day SMA breakout could bring EOS / USD mate at $ 6.8299 Therefore, we recommend keeping the remaining long positions with $ 4.40 arrests.
The 20-day EMA has become flat while the 50-day SMA is still down, with the RSI in negative If bear prices fall, it is likely to fall to $ 4.4930. If this support breaks down, the decline could extend to $ 4.1778 and $ 3.8723.
XLM / USD
Stellar has risen from critical support of $ 0.184 but is facing 20-day EMA resistance over the past three days.
We anticipate the XLM / USD pair to extend his stay within the range of $ 0.184- $ 0.24987525 for a few more days.The 20-day EMA is becoming flat, which shows that the short-term sale has declined.
traders should expect a breakout from this interval before starting any long position.A breakdown will be very negative and could fall to $ 0.11812475 and $ 0.082332.
LTC / USD
The break from the level of $ 49.466 on 12 September was short-lived as Litecoin returned to the range, which shows some purchases below the $ 50 level. We like the positive divergence that develops on CSR, but we need prices to follow more above before it can act as a purchase signal.
The LTC / USD pair will face a stiff upward resistance from 20-day EMA from the downtrend line and the 50-day SMA.
Both moving averages are falling and the RSI is still in negative territory. A $ 47,246 breakdown could bring down prices in the next support zone of $ 40- $ 44. We suggest traders to wait until the virtual currency creates a reliable purchase configuration.
ADA / USD
The bulls are trying to defend the $ 0.06 level down, but they have not been able to bring Cardano above the $ 0.0715 level in the last two days.
Both moving averages are sloping down and the RSI rem ain in oversold territory. sellers have complete control.The downside target is $ 0.054541.
The first sign of a probable change in trend will be when the ADA / USD pair will break out and will hold over $ 0.111843. of reliable purchase to be formulated before suggesting any long position.
XMR / USD
Monero came out of moving averages after supporting the downtrend line.If it breaks out at $ 120, it could go up to $ 142, 71 and $ 150.
Moving averages are neighboring each other and are flattening while the RSI has moved in positive territory, which shows that bulls have a short-term advantage. stop loss.
The XMR / USD pair becomes negative if bears fall below the September 12th low of $ 96.390.
IOTA / USD
IOTA is trying to rebound after taking support at the $ 0.5 mark, but is facing strong resistance to the 20-day EMA.
If the bulls fail to overcome environmental resistance, the IOTA / pair USD will drop to $ 0.50 and $ 0.4628.
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