[ad_1]
The opinions and opinions expressed here are solely those of the author and do not necessarily reflect the opinions of Cointelegraph. Every investment and trading move carries risks, you should conduct your research when you make a decision.
Market data are provided by the HitBTC exchange.
It is the last day of a very difficult year for cryptographers. While 2018 began on a positive note, it is ending with uncertainty. Traders and analysts are divided on the fact that cryptocurrencies have hit the bottom. This, in a sense, is good, because the markets are cautious and the excesses have been removed.
There are a number of events in 2019 that could turn the encrypted markets around. All eyes will be on institutional investors because their involvement is necessary to push the markets to the next level. Even in the wake of an overwhelming bear market, cryptocurrency traders are trying to invest in virtual currencies. 40% of participants in a recent Chinese survey showed interest in investing in cryptocurrencies in the future. Similar surveys in the United States, Germany and the United Kingdom have all projected a favorable demand for cryptocurrencies.
We are confident about the digital currencies for 2019, however, we believe it will be a more gradual move and expectations should be eased. Switch securely so that we are around to reap the benefits when the next vertical run occurs. Are there any tradable configurations at current levels? Let's find out.
BTC / USD
Bitcoin is struggling to unlock the 20-day EMA that has become flat. Failure to open will attract the sale which will increase the momentum below $ 3,598.99. The downward trend will resume on a break of the 15 December minimum. The 50-month decline in SMA confirms that the long-term trend is still falling.
The BTC / USD pair will show signs of a possible inversion if it comes out of the reverse model neckline of the head and shoulders. The 50-day SMA and the horizontal resistance at $ 4,255 are all nearby. This makes it a critical level to look on the upside.
The neckline break has a target of $ 5,500. Although there is a lower resistance at $ 4,914.11, we expect it to be outdated. Short-term traders can expect a close above $ 4,255 to buy. The stops can be kept just under $ 3,550.
XRP / USD
Undulation is facing a 50-day rigid resistance to SMA. If the bulls can not overcome this resistance quickly, a decline is likely to be $ 0.33108.
The XRP / USD pair will weaken below $ 0.33108 and may collapse to the next support at $ 0.286. If this support breaks, a new test of $ 0.24508 will be added.
Both moving averages are flattening, which indicates a likely consolidation in the short term. The digital currency will become positive in the short term if the price remains above $ 0.40. Such a move may result in a rally at the resistance line of the downtrend channel at about $ 0.48.
We can expect a new uptrend if the bulls break and close (UTC time frame) above the channel. In this case, the rally can extend to $ 0.56, $ 0.62 and $ 0.7644.
ETH / USD
The withdrawal of Ethereum crashed at $ 153 on December 29, while it managed to stay above $ 136 in the last two days.
Both moving averages are on the verge of a bullish crossover, suggesting that the short-term trend is changing. We expect the bulls to try again out of $ 167.32.
Contrary to our expectations, if the ETH / USD pair falls from current levels and falls below $ 116.3, it may fall to $ 100 and below $ 83. We suggest traders to wait for a new purchase configuration before buying it.
BCH / USD
Bitcoin money is traded within a downtrend channel. Currently, the bulls are trying to keep the price above the 20-day EMA.
A quick breakout of the channel will turn it into a bullish flag, which has a target of $ 355, with a resistance of less than $ 307.1. Short-term traders can take advantage of this move by being on the long side of the markets.
However, if the bears fail to unlock the channel and the 50-day SMA, the BCH / USD pair can once again return to the bottom of the channel. A break below the canal can lead to a fall down to $ 73.50.
EOS / USD
The bulls were not able to transport EOS much above the 20-day EMA. This demonstrates a lack of buyers at higher levels. The 20-day EMA is more or less flat and the RSI is close to 50. This increases the likelihood of a consolidation in the short term.
A break in the support zone $ 2.3093- $ 2.1733 will sink the EOS / USD pair to a minimum of $ 1.55. A break in the lows will resume the downward trend. On the upside, a breakout and a close above the 50-day SMA will represent a positive development that can lead to a rally of $ 3,887. At the moment, we do not see any reliable purchase configuration, so we are not suggesting a trade in it.
XLM / USD
The bulls are struggling to push Stellar over the 20-day EMA. The 50-day SMA is shrinking, which confirms the long-term downtrend. In the short term, the RSI has fallen below 50 and the 20-day SMA is flat, suggesting a likely consolidation. However, if the price falls below $ 0.11024826, you can test the lows again.
On the upside, a break above the 20-day EMA will have to face the resistance again at $ 0.13427050. The XLM / USD pair will show signs of a possible reversal in the event of a break and close above $ 0.13427050. However, it was an underperformer, so we will have to wait for the start of a new uptrend before suggesting a trade in it.
LTC / USD
Recovery in Litecoin is facing a 50-day rigid resistance to SMA. The bulls have not been able to sustain above it since 6 November, so a breakout and a close above the 50-day SMA will signal strength.
The confident reverse head and shoulders model will complete with a breakout of $ 36,428. The goal of the neckline break pattern is $ 49.756. Therefore, traders can start long positions on a close (UTC timeframe) above $ 36.428. As the long-term trend is still falling, traders can maintain a position size of around 40 percent of the usual.
If the LTC / USD falls from current levels, it can return to $ 28.067 and if this support breaks down, a new minimum test is likely. The downward trend will resume at a break below $ 23.10.
BSV / USD
The bulls tried to rebound from close to the end of the day on December 28th, but the pullback nearly touched $ 100.
Currently, the bears are trying to break down the range. If successful, the BSV / USD pair may fall to $ 65.031 and if this support also breaks down, the fall can extend to $ 38.528.
However, if the bulls defend the bottom of the range, the digital currency may remain within a few days. We will be positive over $ 123.98 or in strong rebound from $ 80.352. Until then, we suggest traders to stay on the sidelines.
TRX / USD
TRON is finding support at $ 0.0183 and is facing resistance at $ 0.022. A breakout of $ 0.022 may result in a rally of $ 0.0246 and above $ 0.02815521.
We have been positive on the TRX / USD pair in the last few days because it bounced off the lows and supported the highest levels. The bullish crossover of moving averages also suggests that the bulls are in charge.
Our positive view will be invalidated if the $ 0.0183 support stops. Therefore, traders who approached very close to $ 0.02, on our recommendation, should keep a stop just under $ 0.018. Below $ 0.0183, the digital currency can scroll to $ 0.016 and $ 0.014.
ADA / USD
Cardano remained above the 20-day EMA in the last three days. The 20-day EMA is gradually increasing and the RSI is in positive territory, which shows a marginal advantage for the bulls.
The bulls are currently trying to get out of the neckline of the head and shoulders. If successful, the cryptocurrency can reach the goal of the $ 0.066 model. There is a resistance lower than $ 0.060105, but we expect this level to be exceeded.
Conversely, if the ADA / USD pair falls from current levels and breaks below $ 0.036815, it can repeat the minimum test. We expect a decisive move in the next 3-4 days.
Market data are provided by the HitBTC exchange. The graphs for the analysis are provided by TradingView.
[ad_2]Source link
