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The views and opinions here are those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
The market data is provided by the HitBTC exchange.
Although cryptocurrency prices have been unable to go to recovery, the companies are still launching products that are required by the institutional players.
Cryptocurrency asset manager LedgerX has launched a Bitcoin (BTC) price volatility index called a LedgerX Volatility Index (LXVX) that will function as a "bitcoin fear index", similar to how the CBOE Volatility Index (VIX) works for the stock markets. Though the index is not translated into the future.
Despite the market-wide price plunge last year, it has been increased in 2018 vs 2017, according to a recent report by research firm Diar. These shows are still active in the space.
In a survey of United States consumers by Cornerstone Advisors, only 8 percent said that they own any cryptocurrency. Another 17 percent said they might buy some in the near future. This implies that a lot of money is waiting for the markets when the trend changes.
The markets will look for more in 2019. Though crypto prices this year will remain well below their lifetime highs, we expect them to go much higher than the current levels.
BTC / USD
Bitcoin (BTC) is currently range bound between $ 3,236.09 and $ 4,255. The 20-day EMA has started to slope down, and the RSI is also in the negative territory. This suggestion that bears the upper hand in the short term.
The immediate resistance is at the bottom. One more resistance line is at $ 4,255.
On the downside, a slide below $ 3,473.47 can result in a retest of $ 3,236.09. A breakdown to new lows will severely dampen sentiment and trigger a few stops on the long positions. The next support is the psychological level of $ 3,000.
The BTC / USD pair is likely to be indicated in clear direction within the next few days. Two to the uncertainty, we suggest traders wait until a new buy setup forms.
XRP / USD
Ripple (XRP) failed to scale above the movement in the past two days. However, we anticipate another attempt by the bulls to scale the overhead resistance.
If successful, the XRP / USD can be rally to the overhead resistance of $ 0.4. A break out of the channel will signal the probability of a change in trend.
On the contrary, if the price turns down from the moving again, it is likely to slump to the support at $ 0.27795. The moving averages are flattening out and the RSI is marginally in the negative territory. We will wait for a bullish setup to form before recommending a trade in the pair.
ETH / USD
Ethereum (ETH) bounced off the critical support at $ 116.3 on Jan. 14, but failed to break out of the 20-day EMA. It is currently stuck between both moving averages.
A break out of the 20-day EMA can carry the price to $ 167.32, whereas a break down of the 50-day SMA and $ 116.3 can plunge it to $ 100, and below that to $ 83.
The 50-day SMA is flat, which shows the ETH / USD pair could consolidated between $ 116.3 and $ 167.32 for a few days. If the price sustains above $ 167.32. We could not find any reliable buy setups yet, so we are not proposing any trades.
BCH / USD
Bitcoin Cash (BCH) has been trading in a tight range since it broke down from the support at $ 141. It was not the case that we were unable to sink into the support at $ 100, the bulls had failed to push it back above $ 141.
We advance to decisive move within the next 3-4 days. If the bulls scale $ 141 and the moving averages, the BCH / USD pair can move up to $ 181. If this resistance is also scaled, the rally can extend to $ 239.
However, if the price fails to scale, you will try to push the virtual currency below $ 121.3, which can ultimately result in a drop to $ 100. We will wait for buyers to return before recommending a trade.
EOS / USD
EOS is trading inside the range of $ 2.3093- $ 3.2081. Currently, the bulls are facing resistance at the moving averages. If this resistance is scaled, a rally to the top of the range will be probable.
The EOS / USD pair will turn positive after the bulls sustain above the range. In such a case, a rally to $ 3.8723, and further to $ 4.493, will be probable.
If the bears are lower than the current levels and break below $ 2.1733, a fall to $ 1.7746 and $ 1.55 will be on the cards.
We might suggest long positions if the price sustains above the moving averages. Until then, we remain neutral on the cryptocurrency.
XML / USD
The intraday range in Stellar (XLM) has shrunk in the past two days. This period of smaller ranges is likely to be followed by a range expansion.
A break-out of the symmetrical triangle can carry the XLM / USD pair to $ 0.13427050. Above this level, we anticipate a quick move to $ 0.184.
However, if the bears plunge the price below $ 0.1, a retest of $ 0.09285498 will be likely. The downtrend will resume if this support gives way. We could not find any bullish patterns developing yet, so we suggest traders remain on the sidelines.
LTC / USD
Litecoin (LTC) has been struggled to break out of the 20-day EMA for the past five days. The immediate support at $ 29.349. A break below $ 27,701 will increase the chances of a retest of $ 23.1.
The combination of flat moving and the RSI close to the 50 levels is not pointing to a clear winner yet. The indicators show that there is a balance between the buyers and the sellers.
Nonetheless, if the bulls succeed in breaking out of the 20-day EMA, the LTC / USD pair can move up to $ 36,428. The zone between $ 36.428 and $ 40.784 is a major hurdle, above which, to quick jump to $ 47.246 is possible. Therefore, traders who hold long positions can keep their stops at $ 27.5.
TRX / USD
Tron (TRX) is difficult to break out of $ 0.02815521. On Jan. 15, it turned out from the area of the upper end of the range. If the price takes support at the 20-day EMA, the bulls will attempt to break out of the range again. The uptrending moving and the RSI show that the demand is currently outweighs the supply.
If the bulls fail to scale the overhead resistance, a fall to 20-day EMA, followed by a drop to the critical support at $ 0.0183 is probable.
Pair break out or break down the range. We suggest traders wait for a break from the range to initiate long positions. We could not find any buy setups at the current levels.
BSV / USD
Bitcoin SV (BSV) has entered a period of low volatility, which shows a lack of interest from both the buyers and the sellers.
The BSV / USD pair will be attracted if it is sinks below $ 74.022. The downward momentum will pick up if the bears break the support at $ 65.031.
Any attempt to recover from the current levels at $ 102.58. If this level is crossed, it will be possible to rally to the top of the broader range at $ 123.98. We could not find any reliable buy setups, we remain neutral on the pair.
ADA / USD
The bulls have failed to sustain Cardan (ADA) above the 20-day EMA for the past six days, but the positive is the price. The dip to the 50-day SMA was quickly bought into, which shows demand at lower levels.
If the ADA / USD pair breaks out of the 20-day EMA, a rally to $ 0.051468, followed by a move to the resistance line of the ascending channel, will be probable.
SMA, and is below the support line of the channel.
We expect this level to offer to strong support. The moving averages are flat, and the RSI is also close to the neutral territory. We could not find any reliable buy setups yet, so we are not suggesting a trade.
The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.
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