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Market data are provided by the HitBTC exchange.
Marcus Hughes, adviser for the United Kingdom as a consultant for the main supplier of cryptocurrencies and the US wallet of coins, Coinbase, foresees enormous developments for Bitcoin (BTC) in the next two years.
Hughes is convinced that the European Union will present a more defined regulatory framework for the crypt in 2019. After the entry into force of the regulations, Hughes expects the large investment banks to finally enter the scene.
British investor and entrepreneur Alistair Milne is confident that Bitcoin will come out of its life cycle and will continue to survive. He based his opinion on the expected increase in the level of adoption of the leading cryptocurrency. Milne is sure that Bitcoin will survive for another 100 years.
Similarly to how prices tend to swing higher during a bull market, they usually outweigh the price. Changpeng Zhao, CEO of Binance, believes that much development has been done in cryptographic space, implying that cryptocurrencies are currently undervalued.
So traders should start buying? Let's find out.
BTC / USD
Bitcoin (BTC) has been trading below moving averages since 10 January. Attempts by the bulls to push the highest price have been satisfied with the sale to moving averages. This is a bearish sign.
The cryptocurrency was not able to produce a higher maximum and a higher minimum, a signal we were looking for. A set of higher highs and higher lows indicates a probable change in trend.
If bears impose a price below $ 3,236.09, it will be a new lower minimum to confirm the continuation of the downward trend.
The first sign of a likely trend change will be when the BTC / USD pair will break out of the downtrend line and stay above it. The recovery will increase if the bulls will exceed $ 4,255. Until then, any increase in resistance levels will be sold.
We could suggest long positions closer to $ 3,236.09 if the price bounces abruptly from support, because this would indicate strong demand at lower levels. Another probable trade can be taken on a breakout of more than $ 4,255. Until then, we suggest traders to stay in a wait and see mode.
XRP / USD
Ripple (XRP) has been trading in a restricted range since 11 January. This is unlikely to continue for a long time. We expect a breakout or a breakdown from this range in the coming days.
Moving descending averages and RSI in the negative area suggest that sellers have an advantage. If bears impose a break below the range, the XRP / USD pair may fall to $ 0.27795.
On the other hand, if the bulls push the price above the moving averages and the downtrend line, the digital currency can go up to $ 0.4. We suggest traders to wait for a bullish pattern to form before jumping to buy.
ETH / USD
Ethereum (ETH) collapsed below the immediate support of $ 116.3 on January 20, but bears could not sustain lower levels. The bulls withdrew from the lows and closed (UTC time frame) above the support line.
If the ETH / USD pair can not find buyers at higher levels and reverses direction, it may fall to $ 107.51, and if the support also breaks, a reduction to $ 83 is possible. EMA 20-day downtrending, as well as RSI in negative territory confirm that sellers have the upper hand in the short term.
The digital currency will show strength if it breaks out of $ 134.5. He can then gather at $ 167.32, which is likely to act as a rigid resistance.
BCH / USD
Bitcoin Cash (BCH) has been trading in a narrow range of $ 120- $ 137.26 in the last 10 days. This shows that both buyers and sellers have stopped trading actively.
If bears push the price below $ 120, the BCH / USD pair may fall further to $ 100, and below this it will likely be a new minimum test around $ 73.5. Falling moving averages and RSI below 40 levels indicate that sellers have the upper hand.
Our downward view will be invalidated if the cryptocurrency climbs above the moving averages and the sign of $ 137.26. We will wait for a reliable purchase configuration to be formulated before proposing a trade.
EOS / USD
The EOS is currently between $ 2.3093 and $ 3.20081. Bears are attempting to break the gap, while the bulls are trying to defend it.
On January 13th and 14th, the EOS / USD pair rebounded on the range's support, but the bulls could not take it beyond the 20-day EMA. This is a bearish sign. Any interruption of immediate interval support and the $ 2.1733 sign may result in a decline to $ 1.7772 and over $ 1.55.
Our downward view will be invalidated if the cryptocurrency rebounds interval support and stays above $ 2.5840. If this happens, a resistance to the resistance of the range can be obtained at $ 3.2081. We could suggest long positions above $ 2.6.
XLM / USD
The bulls tried to take Stellar (XLM) higher on 19 January, but failed to climb the 20-day EMA. Currently, the bears are trying to break down immediate support for $ 0.10235190.
If successful, an annual minimum fall of $ 0.09285498 is likely. If this level breaks down, the XLM / USD pair will resume its downtrend. Both moving averages are sloping and the RSI is in the negative zone, suggesting that bears have the upper hand.
The first sign of a likely change in trend will be when the bulls are able to push the price above the downtrend line of the symmetrical triangle. A confirmation of strength will be when the pair will suffer over $ 0.13427050. We will wait for a trend reversal before recommending a long position.
LTC / USD
Bears do not allow Litecoin (LTC) to sustain over 20 days of EMA, while bulls are not allowing the price to fall below $ 29.349.
If the LTC / USD drops below $ 29.349, it could fall further to $ 27.701, below which a decline to $ 23.090 is likely to fall to its annual low. The downward trend will resume if the price falls to new annual lows.
Conversely, if the bulls push the price over the 20-day EMA, the virtual currency could rise to $ 36.428 and over $ 40.784. Flat moving averages and RSI close to 50 levels indicate a balance between buyers and sellers.
The next move will occur when this balance tilts in favor of one of the parties. For now, traders who hold long positions can maintain a stop loss at $ 27.5.
TRX / USD
Tron (TRX) corrected the 20-day EMA, which could act as a support. However, if bears break below this support, it will likely fall to $ 0.02113440, followed by a 50-day decline in SMA.
The TRX / USD pair was brought into series by August 8, 2018. Attempts to break this down or break this interval were unsuccessful and the price always returned to the segment.
There are two possible business opportunities. Traders can buy closer to $ 0.0183 and expect the price to reach $ 0.02815521, or they can buy at closing (UTC time frame) above $ 0.02815521.
The ascending moving averages suggest that the bulls have the upper hand. We will become negative on the cryptocurrency if the price falls and remains below $ 0.0183.
BSV / USD
Bitcoin SV (BSV) is gradually abandoning the ground, which demonstrates a lack of purchasing support at current levels. If the price remains below $ 74.022, a reduction to the support after $ 65.031 is likely.
The 20-day EMA is gradually coming down and the RSI is in negative territory. This shows that bears have a short-term advantage. If the BSV / USD pair breaks below $ 65.031, settlement of long trades will occur. The media on the negative side are at $ 57 and below $ 38.528.
Our downward view will be denied if the digital currency climbs above both moving averages. We will wait for the trend to become positive before recommending any negotiations.
ADA / USD
Cardano (ADA) is currently trading inside a rising channel. Usually, the price fluctuates between the support and the channel resistance line. He reached the channel's resistance line on January 10, where he was turned down, and is now likely to fall down to the channel's support line.
After stopping the 20-day EMA, the ADA / USD pair could find support in the 50-day SMA. If this support breaks down, buyers may intervene on the channel's support line.
Our expectation of a fall on the channel support line will be invalidated if the cryptocurrency moves from current levels and is interrupted by the 20 day EMA.
We could not find reliable purchase configurations at current levels. Flat moving averages and RSI near the midpoint suggest short-term consolidation. Due to these factors, we remain neutral on the pair.
Market data are provided by the HitBTC exchange. The graphs for the analysis are provided by TradingView.