If bulls struggle to propel the price above this level, we will suggest booking partial profits and trailing the stops higher.
The bounce has reached the 20-day EMA, which has acted as a stiff resistance since June 30.If bulls push the price above the 20-day EMA, the XRP/USD pair can move up to the 50-day SMA. Above this level, the pair will signal the end of downtrend.
We might suggest a long position on a breakout and close above the 50-day SMA.Our view of a trend change will be invalidated if the price turns down from the current level or from the 50-day SMA and plummets below the $0.24508-$0.225 support zone.
If bulls push the price above $360, we anticipate a move to $515.35.Conversely, if the pair turns down from current levels and plummets below the neckline of the head-and-shoulders pattern, it can drop to $166.98 and below it to $105. We will wait for the price to move above $360 before suggesting a trade in it.
If the price does not climb above $24.1709 within the next few days, we expect bears to sink the price to $18.30.
Our bearish view will be invalidated if the BNB/USD pair rises above the 50-day SMA. Above this level, a rally to $32.50, followed by a move to lifetime highs is likely.
We will wait for the price to sustain above the 50-day SMA before proposing a trade in it.
If the BSV/USD pair rises above $150, it might attract strong buying that can carry the price to $188.69.
The first target will be a move to $97.9733 and above it $120. However, a failure to break out of the wedge will attract selling that can drag the price back towards the recent lows of $65.7316.
As the risk is low, we suggest that aggressive traders buy on a close above the 20-day EMA and keep a stop loss of $0.043.Our view will be invalidated if the pair reverses direction from current levels and plummets below $0.043.
Price Analysis 09/09: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, ADA
Udgivet den Sep 9, 2019
by Cointele | Udgivet den Coinage
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