The failure of the bears to break this support has attracted buying from the aggressive bulls who are trying to sustain the price above the overhead resistance at $395. If they succeed, it will complete an ascending triangle pattern that has a target objective of $478. The gradually upsloping 20-day EMA and the RSI above 61 suggest a marginal advantage to the bulls.
If the bulls can sustain the momentum and push the price above $0.26, the XRP/USD pair will complete an inverse head and shoulders pattern.
Contrary to this assumption, if the bulls fail to push the price above $0.26, the bears will again try to sink the price below the moving averages.
The BCH/USD pair has surged today, which shows strong buying by the bulls and short covering by the aggressive bears who may have opened short positions hoping for a fall to $200. If the bulls can sustain the momentum and push the price above $266.46, the pair could rally to $280 and then to $300. The bounce in the RSI from 50 shows strength.
The bulls are currently attempting to push the price back above the downtrend line.
DOT/USD. The bulls are struggling to push Polkadot above the 20-day EMA and the bears are finding it difficult to sink the price below $3.80.
If the bulls can push the price above the 20-day EMA, the DOT/USD pair could move up to $4.6112 and that could be followed by a rally to $5.5899.
On the contrary, if the price turns down from the current levels and the bulls fail to arrest the decline above $50, the LTC/USD pair may again drop down to the moving averages.
On the other hand, if the bulls can push the price above the downtrend line, a move to the resistance line of the wedge is possible.
The bulls are currently attempting to sustain the price above the moving averages.
Price analysis 10/21: BTC, ETH, XRP, BCH, BNB, LINK, DOT, LTC, ADA, BSV
Udgivet den Oct 21, 2020
by Cointele | Udgivet den Coinage
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