Fundamentals and prices of digital goods are divergent with developments on the fundamental front that paint a bullish picture of bears. However, last week's events could further dampen prices, although last week ended on a high level. We can see what is happening in Ethereum. A combination of insecure ICO fund managers who dismiss ETH, indecision on monetary issues and the pressure of Constantinople is fueling sales pressure. Meanwhile, EOS and Monero are trending in the key support zone and the way the closing of a candle today will most likely affect the medium-short trend of these coins.
Regardless of how EOS prices behave today or in the coming days, September 5 candelabra will remain influential. It is not difficult to understand why, not only did it mark the beginning of the third phase, the bear recovery phase of the bear break-out model came on at the beginning of August when the bears broke the $ 7, but also emphasized how the sellers were rampant Reverse earnings of 2017.
In both cases, yesterday's price action was a short arm for EOS and could potentially be the reversal price of the bullish double-bar candle back to $ 7, our immediate resistance line and the 5 September highs.
As our main line of support stands at $ 4, spot-selling does not make sense from the point of view of risk reward, and we therefore recommend taking a neutral position today. However, if today they should turn out to be bullish confirming the long 8 sets, we will exit the previous sales and initialize the small long size with stops at the September low and target at $ 7
Ethereum (ETH) Price Analysis
News Highlights [19659012] The mining ETH is now not profitable. It cost $ 152 to extract an ETH and the cost of electricity and hardware is exclusive. Well, a huge drop in hash power from 300TH per second to 270 TH per second is the result and could worsen for industrial miners who have to consider other costs of human capital and cooling equipment. Further worsening of the situation is the massive liquidation of ETH accumulated by the sale of tokens by ICO which accelerate the losses of ETH.
Technical Analysis
Ethereum Daily Chart by Trading View
Unless otherwise, ETHs bears are in charge and are likely to drive ETH prices towards the $ 150 that are about $ 50 at current spot rates.
Going forward, September 5 is a trend setter and although there is a recovery, $ 250 would act as our potentially binding minor resistance line.
So technically, the combination of fundamentals and prices of sliding BTCs makes it a high order for ETH purchases and as such we recommend selling on each high in lower frames with stops at $ 230 and targets at $ 150 as suggested in Previous Business Plans
XRP Price Analysis
XRP Daily Chart for Trading View
From the chart, XRP is finding support at around 25 cents at 30 cents.
The sign of 25 cents is defined by that high-volume bar on August 14 and although we are net bearish due to that high volume, wide range of candles on September 5, a close above 30 cents today could be the impulse necessary to bring prices back to 40 cents.
On the other hand, any drop below mid-June, with three inversions of bar bull, could push prices towards the final level of 15 cents. For now and factoring in the recent price consolidation in the post-September 5 decline, the odds of a decline confirm that the candle is likely.
Monero (XMR) Price Analysis
Monero Daily Chart for Trading View
Despite losing 10 percent in the last week, Monero is back in the top 10 and just like BTC and ETH; it is stable on the last day. A look at the daily chart and it seems that Monero's prices are finding support in the lesser trend line of support.
This support is around the psychological level of $ 100 and the previous support line for June and July, further affirming its importance. Given the influence of $ 100 and the way it has successfully supported XMR prices, if Monero closes higher today, we recommend exceeding previous shorts with targets at $ 150.
If not and c & # 39; is a $ 100 violation as prices rebound with the trend of last week, our previous short films are valid as traders aim for $ 50.
Bitcoin Cash Price Analysis (BCH)
New [19659030] Soon a new Bitcoin Cash tipping plug Button will be launched.
Bitcoin Cash Daily Graph for Trading View
Regardless of yesterday's gains, the odds are that the support line below $ 450 will be broken through maintaining the position d & # 39; bear. Once that happens, the third phase of a bear break pattern triggered by bears at the beginning of August would be true.
As such, moving forward, taking the shorts on each high in lower frames preferably at or around $ 530- $ 580 region is preferable. Bear's targets at $ 300 remain constant, although high-volume ratings above $ 600 and September 5 cancel this showing.
Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
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