We anticipate a strong support at the 50-day SMA, which is close to the 50 percent retracement levels of the rally from $363 to $838.The first bullish sign will be a breakout of $745 levels.
Below the 50-day SMA, the cryptocurrency can plunge to $800 levels where some buying can be expected.
XRP/USDRipple is trying to hold the May 12 lows of $0.632 but it seems weak as it is not finding buyers even at these levels.
XLM/USDStellar has broken below some key support levels and is currently at the neckline of the head and shoulders pattern.
LTC/USDLitecoin has been trading below the 50-day SMA for the past three days, which shows a lack of buying even at these low levels.
If the digital currency falls to $115 levels and holds, we shall risk a buy.
On the upside, the bulls will face stiff resistance at the 50-day SMA and the 20-day EMA. Once these two levels are crossed, the final hurdle will be the horizontal resistance at 0.00003445.
IOTA/USDIOTA is trying to hold the horizontal support at $1.63, which is just below the 50-day SMA. If the support holds, a move back to $2.2117 is possible but the up move will face resistance at the 20-day EMA and at $2 levels.
If the support breaks, the IOTA/USD pair can slide to $1.28 levels.
The 61.8 percent Fibonacci retracement level of the recent rally is also close to the current levels.
Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, IOTA, EOS: Price Analysis, May 18
Udgivet den May 18, 2018
by Cointele | Udgivet den Coinage
Coinage
Nævnt i denne artikel
Seneste nyheder
Se alt
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.