If the price rebounds sharply from the support, it will indicate that there is buying on dips.
If the digital currency easily breaks down of the support, it will suggest selling by the bears.
A close below $5,900 will be a negative development that might trigger a number of protective stops, dragging the price to the next support lines of $5,450 and $5,000.
The bearish view will be negated if the price rebounds sharply from the supports and scales above the moving averages.
BCH/USDAfter trading close to the support line for the past few days, Bitcoin Cash broke down of the symmetrical triangle today.
A break down of $0.184 will complete the descending triangle pattern that can result in a fall to the next support at $0.08.
If the bears succeed in closing below the support line of the triangle, it will increase the probability of a fall to the bottom of the range at $0.060105.
Though there is a support close to $0.07, the down sloping 20-day EMA and the RSI in the negative zone suggest that it is likely to be broken.
A break down of $100.453 will sink the XMR/USD pair to the critical support at $81, below which the downtrend will resume.
The TRX/USD pair will resume the downtrend if it breaks down and closes below the critical support at $0.0183.
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 29
Udgivet den Oct 29, 2018
by Cointele | Udgivet den Coinage
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