Daniel Osten

Bitcoin Price Drops to $9,600; Panic Sales Simplify Bears’ Task

Battle with an invisible enemy: bears came from nowhere and managed to drop Bitcoin price to $9,600 despite former evidence of a reversal.
Bitcoin Price Drops to $9,600; Panic Sales Simplify Bears’ Task

By the beginning of Friday, despite numerous signals to the contrary, the bearish trend persisted on the cryptocurrency market. Now it’s clear that the situation is not just a local, but a full-fledged correction that involves all assets. Due to the buyers’ indecision, total market capitalization decreased to $425 bln which is comparable to the value from Feb. 10, while Bitcoin dominance did not change and still makes up 39.2 percent. The instigator of the whole event (yes, we do mean Bitcoin) lost close to 10 percent in the course of 24 hours, trading around $9,800.

Investors are digging their own graves

In yesterday's review, we mentioned this scenario, although its likelihood was not high. At the moment, the decline is taking place in the absence of any negative crypto industry news, so we can fully appreciate the power of the collective unconscious in the market. Investors, apparently still not recovered from the events of Feb. 5-6, are prepared to book minimal profits or just break even, for fear of history repeating. But history does not repeat quite so quickly, and we are not yet discussing the possibility of new lows. This correction cannot be a protracted one by definition. Therefore the main recommendation for readers remains in force, remain calm and avoid rash decisions. Profits will come to those who are patient.

All assets show similar decline rates

Returning to cryptocurrency prices, let’s take a look at the top 10. Ethereum was least affected, with a loss of 4.5 percent. Litecoin suffered the most, falling by almost 15 percent. Other coins are spread out between them, with decreases of 10 to 12 percent. Beyond the top 10 the situation is similar: except for some individual coins that showed one digit growth, the average price drop is also about 12 percent.

BTC/USD

With their panic sales, Bitcoin investors continue to create problems for themselves which they will have to overcome later with great effort. We're talking about the young descending channel that formed at the peak three days ago. Now, to confirm the growth scenario, the price has to overcome this channel first, and only then make a second attempt at the long-term descending channel.

01_23.02

The current price decline was stopped at the 0.382 Fibonacci retracement and now Bitcoin price is at the $9,800 mark, which we also mentioned yesterday. If the decline continues, the next strong support level will be the $8,900-$9,000 zone. Judging by the volume profile, this is the range where purchases predominated over sales. In addition, this is where we find the equally strong 0.5 Fibonacci retracement.

02_23.02

Japanese candles indicate that a rapid change in the trend is possible. We see two “hammer” candles with long shadows and short bodies. Often, such combinations anticipate a reversal or in any case reveal that buyers have started to defend the price. At such levels, buyers should have no reason to sell long positions.

ETH/USD

After the previous collapse, Ethereum was recovering more slowly than other assets, so it had almost nothing to lose. At the time of writing, ETH is trading around $840 and continues (like other coins) to respond sensitively to the slightest fluctuations in Bitcoin price. The bad news is that in the course of the decline Ethereum had already fallen out of the lower register of the ascending channel, beyond which, there is a void and an absence of trading volumes.

03_23.02

So far, support was found at $790- this price has been touched by the shadows of four-hour candles thrice, and each time buyers found the resources to support the asset. In case of further decline, the next support, formed by the mirror level, will be at $750. The scenario of an increasing Ethereum price is too early to consider, but we advise our readers to watch the boundary of the closest descending channel, transition to active growth will depend on breaking it first.

LTC/USD

Unlike Ethereum, Litecoin did have something to lose, and we were right to recommend that our readers decrease long positions. Thursday’s minimum value was $182, which nearly coincides with the 0.5 Fibonacci retracement. With a great deal of confidence, we can say that the minimum will be updated in the event of further Bitcoin decline.

04_23.02

In the event of breaking through the downward channel, the next support level is in the range $163-$168, where readers can safely resume growing long positions. Although, the price may not drop so low, on the chart we see a "hammer" candle, which indicates a possible reversal. In any case, everything will depend on the behavior of Bitcoin, and the closest attention should now be paid to its price fluctuations.

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Andrew Strogoff

Bitcoin, Ethereum, Ripple Still Falling, Cardano Surprisingly Grows: Price Analysis, May 29

Bitcoin and other major cryptocurrencies are still looking for support while Cardano surprisingly rises
Bitcoin, Ethereum, Ripple Still Falling, Cardano Surprisingly Grows: Price Analysis, May 29

There is two news today– both bad and good. The bad one is that Bitcoin, Ethereum, Ripple are still going down without any sign of a reversal. The good one is that they have slowed down their downside tendencies. However, no one can say for how long.

Psychologically, the crypto industry is still bearish. There is no a single event to help bulls to break this negative tendency. Bears continue to dig themselves deeper into the ground, establishing new lows almost every day.

As for crypto news, there are some interesting events to mention. The South Korean Bithumb exchange has banned traders from 11 Non-Cooperative Countries and Territories including Iraq, Iran, Bosnia and Herzegovina, Tunisia, Trinidad and Tobago, Vanuatu, Yemen and others. The other interesting event for the cryptocurrency community is that six companies in Japan have opened crypto exchanges on the Tokyo Stock Exchange.

The fundamental outlook, however, is still negative. Hodlers and buyers are still waiting for some good news to come.

Bitcoin (BTC/USD) Price Analysis, May 29

BTC/USD Hourly

Bitcoin is still going along the red midterm descending trend line and shows no sign of recovery. The currency pair established new lows on Monday meaning sellers still have control over the market. BTC/USD seem to aim at $6,510 in midterm.

BTC/USD Hourly FIBO

Let’s have a closer look at what is going on the hourly chart. BTC price has jumped below the $7,199 support area and is trading there currently. Bitcoin has chosen the red scenario (bearish) on Monday. BTC/USD slides down along the red midterm descending trend line.

Possible paths for Bitcoin are the following:

  1. Red scenario (bearish). BTC/USD will continue to fall without any significant correction or after a correction towards the closest resistance area at $7,199. The closest targets for BTC/USD are 2.618 retracement level and the support area at $6,943.
  2. Orange scenario (neutral). Bitcoin will jump over the closest resistance area at $7,199 and move higher targeting the next resistance area at $7,565, which coincides with 1.618 retracement level. Once those targets are reached, BTC/USD will reverse towards $7,199.
  3. Green scenario (bullish correction). There are still chances that buyers will be able to make a kind of a correction. BTC price will reach $7,565 and move higher targeting the $7,949 resistance area, which coincides with one retracement level.

Ethereum (ETH/USD) Price Analysis, May 29
Ethereum

Ethereum has lost nearly two percent in the past 24 hours, meaning the currency pair slows down its downside tendency. There is a possibility of a bullish correction. However, ETH price still stays below the descending trend line and we have a general downside tendency. Midterm outlooks still negative. The price is able to reach $453.24 support area at least.
Ethereum

Let’s have a closer look at ETH/USD’s hourly chart situation. The currency pair has reached the support area at 3.618 retracement level and has fallen back from there. It seems that Ethereum goes towards the closest resistance area at $566.90, which coincides with 2.618 retracement level.
The possible scenarios for ETH/USD are the following:

  1. Red scenario (bearish). The currency pair will fall from the current levels or from $566.90 towards 3.618 retracement level and then lower, towards 4.236 retracement level, which coincides with $473.39 support area.
  2. Orange scenario (neutral). This one is similar to a red variation, but ETH price will not break through 3.618 retracement level and jump off it.
  3. Green scenario (bullish correction). ETH price will follow the orange scenario until $566.90 resistance area and then will break it through targeting $596.08 resistance area.

Ripple (XRP/USD) Price Analysis, May 29

Ripple has left the midterm descending trend line, but we have drawn another short-term one as the currency pair still follows a downside tendency. XRP/USD has lost over two percent in the past 24 hours. Ripple’s downtrend slows down, but it is still in place meaning bears control the market. Midterm outlook still negative. The currency pair is able to reach $0.5000.
ripple

Let’s have a closer look at the hourly chart situation. XRP/USD has reached new lows on Monday and touched $0.5444 support area. The currency pair jumps off this level later and crossed 2.618 retracement level as a part of the bullish correction. The possible scenarios for XRP/USD are the following:

  1. Red scenario (bearish). The currency pair will jump off $0.5914 resistance area and move lower aiming at 2.618 retracement level. The second target for the bears lies at $0.5444 support area.
  2. Orange scenario (neutral). XRP/USD will rise towards $0.6216 and reverse towards the current support area at $0.5914.
  3. Green scenario (bullish correction). The currency pair will move towards $0.6216 and cross this resistance area aiming the next one, which lies at $0.6515.
     

EOS (EOS/USD) Price Analysis, May 29
eos

The currency pair still follows the downtrend as it is close to descending trend line. EOS has lost over than two percent in the past 24 hours. This downside tendency seems to slow down but sellers are still in controlling the market. The next midterm target for the sellers lies at $10.00 area.
eos

Let’s have a closer look at what is going on the Hourly chart in the short term. EOS price is between 0.382 and 0.5 retracement levels. EOS/USD has almost reached one retracement level on Monday, but jumped off it, starting an upside correction. The possible scenarios for EOS are the following:

  1. Red scenario (bearish). The currency pair will break through 0.5 retracement level and move to the lower targeting 0.618 and 0.786 retracement levels.
  2. Orange scenario (neutral). The currency pair will rise towards 0.236 retracement level and reverse downwards there targeting 0.5 retracement level.
  3. Green scenario (bullish correction). The currency pair will reach 0.236 retracement level and move higher towards the zero retracement level, which coincides with $12.80.

Cardano (ADA/USD) Price Analysis, May 29
cardano
The currency pair added more than eight percent in the past 24 hours, which is surprising as the other coins declined mostly. However, ADA/USD is still unable to make a complete reverse. This upside rush is nothing more than a bullish correction, which seems to come to an end in the nearest future. Midterm targets for bears lie at $0.1544.
cardano

Cardano has reached $0.1719 support area before starting a luminous bullish correction to $0.2002 resistance area. ADA/USD is currently close to this resistance. This correction is sharp, but we still think that bears will take control in the midterm. The possible scenarios for ADA/USD are the following:

  1. Red scenario (bearish). Cardano will break through 0.236 and 0.382 retracement levels targeting 0.5. Once done, the currency pair is able to develop its downside progress.
  2. Orange scenario (neutral). ADA/USD will move towards $0.2002 and reverse downwards targeting 0.236 FIBO retracement level.
  3. Green scenario (bullish). The currency pair will leave the FIBO retracement and move higher towards $0.2081.
     

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Up or Down: Main News that Affect Bitcoin’s Price in December

These are some of the latest news on Bitcoin, which can have an influence on its price
Up or Down: Main News that Affect Bitcoin’s Price in December

These are some of the latest news on Bitcoin, which can have an influence on its price. These are fundamental, not technical, news.

- Spanish Deputies to Debate Creating ‘National Crypto Council

- Bitcoin to Bottom Out in a Few Months, Research Claims

What are the implications of these news reports?

The proposal by Spain’s People’s Party (PP) about forming a ‘National Council of Cryptocurrencies’ with the strategic purpose of regulation of cryptocurrencies and blockchain technology while also providing independence to Spain — especially to policy issues — is important as it can provide an organized legal framework and network for crypto and blockchain-related businesses.

Two of the most crucial issues and concerns related to cryptocurrency are safety and the reliability of the market. Spain takes the cryptocurrency market very seriously as it will host one of Europe’s biggest blockchain events, Congreso Internacional Blockchain, on Dec. 12-14, 2018. Regulation is a topic that will be important during 2019 and beyond.

As the cryptocurrency market is decentralized, any first initiatives from countries to offer a tax-friendly and secure legal framework for blockchain business purposes will give an edge to these countries. In business, a competitive edge is very valuable if it lasts.

BTC/USD chart

A forecast that Bitcoin will bottom in 2019 and then move higher due to the Lightning Network’s success from Delphi Digital is focusing not on technical factors, but on business adoption and prospects about Bitcoin and its future.

“In order for Bitcoin to work as a medium of exchange, we believe it first needs to establish itself as a store of value to help reduce its volatility,” the paper stated.

Instant transactions and lower fees are positive factors for Bitcoin, which is trying to become a medium of exchange in daily financial transactions.

Important Bitcoin statistics for December

Bitcoin, with a price of $3,456 as of December 12, 2018, has lost almost 79.21% of its value in 2018 compared to the January price of about $18,000. Here are some interesting statistics for Bitcoin other than its performance.

·    Unrestricted in 110 of 251 countries/regions.

Bitcoin legality map

·    It is unrestricted for now in 43% of countries/regions. There are differences in classifications of Bitcoin as a currency, property or bartered goods among these countries.

·    The Bitcoin search volume on Google trends peaked in late 2017 and then declined in tandem with Bitcoin’s price.

·    The largest part of the Bitcoin community’s interests is related to financial services and investment services, while the smallest ones are related to business and productivity software.

·    Bitcoin community engagement by gender shows that the male gender dominates the market with a percentage of 91.22%.

·    Bitcoin community engagement by age shows the majority group is the age of 25-34 with a percentage of about 48%.

·    The major device used to access information about Bitcoin is a desktop device with a percentage of 76%. Only 3.12% of Bitcoin community engagement is made with a tablet.

·    The next Reward Halving date is May 10, 2020.

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BTC Looks Bullish, XMR Has Waited For Opportunity, ETH Is In Trouble: Price Analysis, Oct. 5, 2018

Bitcoin is technically good to make another ‘leg’ upwards, Monero is getting ready for breakout, Ethereum is in trouble
BTC Looks Bullish, XMR Has Waited For Opportunity, ETH Is In Trouble: Price Analysis, Oct. 5, 2018

*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin is technically good to make another ‘leg’ upwards

Yesterday was bullish-day and the "Hammer" worked nicely as a bullish pattern. BTC price found a resistance from the trendline which is pulled from July 24. Several attempts in the lower time frames to break upwards have failed, and currently, it makes a healthy little throwback (movement downwards). Healthy, because after impulse wave (yes, this is tiny impulse) there is always a correction before we can start another movement upwards.

The current correction has founded a support from the golden Fibonacci ratio at 62 percent, and we discovered a very strong area on the chart between the $6,530-$6,550 (marked with the orange 'box'). This area has worked historically as a strong support and as a strong resistance and no single candle close inside this orange area, only powerful candles through the area up-and-down, this makes this area super strong. If the current scenario holds us, then there is almost a perfect starting point to go to the higher levels.

First bullish confirmation is a trendline breakout, if we get at least a four-hour candle close above the trendline then it could mean another leg upwards to the next strong resistance at $6,767.

Let's count down all the bullish price action criteria:

1. Oct. 3. we got a bullish candlestick pattern "Hammer"

2. Yesterday (Oct. 4) we got a nice impulse upwards

3. Current throwback has  found a support from the golden Fibonacci level at 62 percent

4. Current throwback has found a support from the super-strong area

So, technically Bitcoin is ready to break that trendline!

To confirm bearishness then the candle close below the orange area will guide us to the lower levels and the full bearish confirmation is then when we also get a candle close below the $6,460 (blue line).

Monero (XMR/USD) awaiting breakout

Monero looks a little bit suspicious and looks like it needs to wait a moment and for the opportunity to break upwards from the triangle.

Currently, there have been several attempts to break through the counter trendline, but it has held the price nicely. Slowly, XMR’s move into the triangle tip to explode and if Bitcoin makes a move upwards and it breaks the trendline then definitely Monero has waited the perfect moment to do the same. At the moment it trades above the 200 EMA on the four-hour chart.

The counter trendline and the 200 EMA make together a strong support area below the current price. So, the only way that we could see a Monero coming down is if the BTC can't break that resistance and starts to come down, a candle closes around $6,450. In this case, we can say that Monero comes down also but currently, doesn't looks like that.

For breakout from the upper trendline, there are two target areas at $128 and $140. Those are the recently worked resistances, and we would recommend to take out some profits in this area because around $150 is just hell. There are multiple monthly supports and resistances that you never want to be on Monero if we reach into this area. The bounce downwards could be probably massive if the scenarios matching each other.

Ethereum (ETH/USD) is in trouble

Ethereum is in trouble. Almost all the altcoins trade above the major counter-trendline but Ethereum is not on the list anymore.

It has a break downwards from the trendline and from the strong area which is not a good sign, but we can find something positive also. Currently, it has an opportunity to make a new higher low on the market structure, and it shows that the power is still there, but we lost the momentum. It has difficult times ahead to break above the first strong area at $225, and it is even harder because on the four-hour chart there are also 50 and 100 EMA's which started to work as a resistance.

To see a bullish Ethereum:

1. BTC and the whole market has to start to grow, Ethereum can't push the price upwards by itself!

2. It has to break above the blue line at $225

3. It has to break above the counter trendline

4. And the final confirmation is a break above the second strong resistance at $236

If the market can't find that power, then we may come down to the "smoother trendline" (brown line) and even lower than that! So, be careful!

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Bitcoin, Ethereum, Litecoin, EOS Bounce Back, Ripple, NEM Hovering: Price Analysis, June 15

Bitcoin and most altcoins bounce back after a sharp fall, have positive outlooks in short-term
Bitcoin, Ethereum, Litecoin, EOS Bounce Back, Ripple, NEM Hovering: Price Analysis, June 15

Bitcoin and altcoins develop their corrections and establish new local highs. It is hard to say now whether this tendency is mid-term or short-term as experts have different opinion on the reasons of this huge downtrend that we can see in midterm.

Some experts think that this significant crypto market decline is the result of 2017’s cryptocurrencies hype and now the price is trying to find its balance.

Another opinion about this huge downtrend is that the US regulatory body, CFTC requires transactions data from major US cryptocurrency exchanges.

Anyway, the general situation in this industry indicates on the probability of further decline of all cryptos.

Bitcoin (BTC/USD) Price Analysis, June 15

Bitcoin (BTC/USD) Price analysis, May 25

Bitcoin added more than one percent in the past 24 hours. The currency pair bounced back the support area at 3.618 retracement level and started its upside tendency this week. BTC/USD established new highs on Thursday/Friday.

Bitcoin (BTC/USD) Price analysis, May 25

Let’s get closer to the current situation on the hourly chart. The currency pair ran upwards on Thursday and jumped over the resistance area at $6,510. BTC/USD moved higher later and reached $6,718. However, Bitcoin failed to break through this level. The possible ways for Bitcoin are the following:

  1. Red scenario (bearish). The currency pair will test the support area at $6,510 and if successful, Bitcoin will develop its downside move targeting the next support at 3.618 retracement level.
  2. Orange scenario (neutral). BTC/USD will stay within the current range, limited by $6,718 resistance area and $6,510 support area.
  3. Green scenario (bullish). Bitcoin will test the resistance area at $6,718 and move higher, targeting the next resistance at $6,943.

Ethereum (ETH/USD) Price Analysis, June 15

Ethereum

The currency pair has added more than four percent in the past 24 hours. Ethereum develops its upside corrective movement. The currency pair has found support on Wednesday and established new highs on Thursday. ETH/USD still has a positive outlook in short term.

Ethereum

Let’s see closer what is going on the hourly chart. The currency pair has broker through the resistance area at $500.36 and moved higher. However, ETH/USD failed to reach the next resistance area at $540.69 and returned to $500.36. The possible ways for Ethereum are the following:

  1. Red scenario (bearish). The currency pair will break through the current support area at $500.36 and move lower, targeting the next support at $473.39.
  2. Orange scenario (neutral). Ethereum will stay within the current price range, limited by the resistance area at $540.69 and the support area at $500.36.
  3. Green scenario (bullish). ETH/USD will test the resistance at $540.69 and if successful, will go higher, aiming at the next resistance area at $566.90.

Ripple (XRP/USD) Price analysis, June 15

ripple

The currency pair has lost less than one percent in the past 24 hours. Ripple develops its upside correction currently but fails to grow significantly as the currency pair fluctuates almost on the same levels on Friday as compared to Thursday.

ripple

Let’s see closer what is going on the hourly chart. The currency pair has reached the resistance area at $0.5643 on Thursday, but failed to develop the progress and retreated towards the support area at $0.5444. Ripple stays there currently. The possible ways for Ripple are the following:

  1. Red scenario (bearish). The currency pair will break through the support area at $0.5444 and move lower aiming at the next support area at $0.5088.
  2. Orange scenario (neutral). Ripple will stay within the current range, limited by the resistance area at $0.5643 and the support area at $0.5444.
  3. Green scenario (bullish). XRP/USD will rise towards the resistance are at $0.5643 and break it through. The next step for XRP/USD is to target the next resistance area at $0.5914.

EOS (EOS/USD) Price Analysis, June 15

eos

The currency pair added more than five percent in the past 24 hours. EOS develops its upside correction as it established new highs on Thursday. However, buyers were unable to develop their progress and the price retreated finally.

eos

The closer look at the hourly chart allows us to see the following situation. The currency pair has reached the resistance area at $11.41 on Thursday but later, EOS/USD declined. EOS is now in the middle of the horizontal channel. The possible ways for EOS/USD are the following:

  1. Red scenario (bearish). EOS/USD will move towards the support area and test it. If successful, EOS will develop its downside tendency towards $9.91.
  2. Orange scenario (neutral). The currency pair will stay within the current range between the resistance area at $11.41 and the support area at $10.54.
  3. Green scenario (bullish). EOS will test the resistance area at $11.41 and run higher, targeting the next resistance at $11.92.

NEM (XEM/USD) Price Analysis, June 15

nem

The currency pair added less than one percent in the past 24 hours. NEM develops its upside progress. However, buyers are still hesitating and seem to have not enough power to make a huge momentum currently.

nem

Let’s have a closer look at the situation on the hourly chart. The currency pair went above the support area at $0.2002. However, buyers were unable to develop their progress and the price is close to the support area currently. The possible ways for NEM are the following:

  1. Red scenario (bearish). The currency pair will decline below the support area at $0.2002 targeting the next support at $0.1873.
  2. Orange scenario (neutral). NEM will stay within the current range between the resistance area at $0.2121 and the support area at $0.2002.
  3. Green scenario (bullish). The currency pair will move towards the resistance area at $0.2121 and then run higher targeting the next resistance at $0.2234.

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Bears Take Market Down; BTC and XMR Struggle, ETH and NEO Share Unlucky Fate

Market is red, investors are blue. Bitcoin is down and altcoins are too.
Bears Take Market Down; BTC and XMR Struggle, ETH and NEO Share Unlucky Fate

We begin our end-of-week market review with a heavy heart. In the last few days, falling prices did not find support from the bulls at key levels, resulting in many assets updating lows of not just the March, but also the February correction.

As is often the case in such situations, the activation of protective stop-losses placed by investors at purchase price levels accelerated the fall even more.

Bitcoin dominance rises again as situation remains critical

Despite the fact that recently the correlation between the main asset and some promising altcoins has been decreasing, in a critical situation Bitcoin continues to set the pace for the entire market. During Thursday’s trading, the minimum price of BTC was A$6,660, which is 13 percent less than the previous day. Predictably, dominance grew - to 45.5 percent, which is a new record for 2018.

Bitcoin Cash hurt by OKEX closure

The rate of decline in the price of altcoins is largely in line with Bitcoin. In the top 10, average losses were in the same 12 - 15 percent range. Ethereum and Litecoin are the worst off, decreasing by 15 percent each and confirming our theory about their loss of investment potential. Bitcoin Cash lost 17 percent, affected by the closing of all trading pairs in BCH market on the OKEX exchange. EOS is still doing better than the rest, its price falling just by 6 percent.

BTC/USD

Given the scale of the fall, as well as the proximity to the minimums of the previous correction, we are compelled to switch to the daily price chart. The main cause for concern is the breaking of the long-term uptrend, formed back in July 2017. Bitcoin buyers showed some activity near this important level of support, but it was not enough to initiate a reversal yet.

[BTC / USD, Bitfinex, 1 Day Chart]

In the end, the fall was stopped only by the mirror level from Feb. 5 - the day preceding the culmination of the global correction.

Today, bulls have a chance to form a reversal candle “hammer” trend. The ideal scenario in this case - a foothold above the boundary of the ascending channel and testing the level of $7,650, which coincides with the 0.786 Fibonacci retracement.

However, so far we do not see a surge in buyer activity, so we can not view this scenario as the default one.

In case of continued decline of the fall, the target for bulls today is $5,900- $6,000, coinciding not only with the strong mirror level, but also with the 1.618 Fibonacci retracement. In any case, until there is confirmation of the turnaround, we strongly recommended that readers  refrain from trading.

ETH/USD

A month ago, it was hard to imagine the asset with the second largest capitalization falling even to $500, and today it is trading at $380. It seems that if there is no global market reversal in the very near future, we will see Ethereum at $300 - fair price during the second half of 2017.

[ETH / USD, Bitfinex, 1 Day Chart]

At the time of writing, the price almost broke the long-term uptrend, which is a very dangerous sign for investors. Given further development of the negative tendency, in free fall ETH will easily reach the nearest significant mirror level $350.

A positive scenario would involve gaining a foothold above the boundary of the ascending channel, with subsequent testing of the $450 level. Medium-term investors should start thinking about increasing long positions no earlier than the price reaches this value.

XMR/USD

Very often, assets that hold up better than the market during a global decline, there comes a critical moment when fear prevails and investors begin to actively record losses before they get too big. But Monero’s situation does not look like panic sales.

The coin is trading at a price of $163 near the mirror level and the 0.786 Fibonacci retracement.

[XMR / USD, Bitfinex, 1 Day Chart]

The key support for XMR today is $150 - the price has rebounded from this level six times already. With a high degree of probability, buyers will meet the asset at this level. In case of a market reversal, the growth targets will be $175 and $190, respectively.

NEO/USD

NEO is not doing well. At press time, the coin is trading at $49, which is already slightly lower than the previous minimum, and significantly lower than the minimum of the February correction.

It seems that due to decreased interest in ICOs, the asset is suffering a fate similar to its older brother Ethereum.

NEO/USD

If there is no quick rebound, then the price will break the long-term ascending channel. In this case, the decline targets are $42 and $36, with the possibility of a brief stop at the boundary of the mirror level, marked in red. There is no sense calculating growth scenarios for NEO at the moment, but the key level for bulls is now $60.

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