Cryptocurrencies Reviews - Page 8

Ether (ETH) turned down from the 20-day EMA ($1,638) on Aug. 26 and broke below the neckline of the head and shoulders pattern. This completed the bearish setup, indicating that the sellers are in control. However, the bears could not sustain the price below the neckline, indicating buying on dips. The bulls are attempting to push and sustain the price above the neckline and challenge the overhead resistance at $1,700. If they succeed, the ETH/USDT pair could rally to the psychological level of $2,000. Conversely, if the price turns down from the current level or the moving averages, it will suggest that bears are active at higher levels. If the price turns down and breaks below the neckline, the pair could drop to the strong support at $1,280. The bulls are expected to defend this level aggressively but if they fail to do that, the pair could plunge to $1,050.

Bitcoin closed below the psychological level of $20,000 on Aug. 28 but the bears could not build upon their advantage. Buyers have pushed the price back above $20,000 on Aug. 29, which shows strong demand at lower levels. The BTC/USDT pair could rise to the 20-day exponential moving average (EMA) ($21,620), which is an important level to keep an eye on. If bulls push the price above this resistance, it could signal that the bearish momentum is weakening. A break and close above the moving averages could open the doors for a possible rally to $25,211. Alternatively, if the price turns down from the downtrend line or the moving averages, it will suggest that bears are selling on every minor rise. The pair could then decline to the strong support zone of $18,910 to $18,626. The bulls are expected to defend this zone with all their might because if the support cracks, the pair could drop to the June low at $17,622.

EOS has formed the bullish inverse head and shoulders setup. The buyers pushed the price above the overhead resistance at $1.46 on Aug. 17 but the long wick on the day’s candlestick shows strong selling at higher levels. The bears pulled the price back below the breakout level of $1.46 on Aug. 19 but the positive sign is that the buyers did not allow the EOS/USDT pair to sustain below the 20-day EMA ($1.32). This indicates that lower levels are attracting buyers. If bulls sustain the price above $1.46, the positive momentum could pick up and the pair may rally to $1.83. If this resistance is also scaled, the rally could extend to the pattern target of $2.11. This positive view could invalidate if the price turns down and breaks below $1.24. The pair could then decline to the 50-day SMA ($1.17). The rally above $1.46 on Aug. 17 pushed the RSI on the 4-hour chart to deeply overbought levels. This may have tempted short-term buyers to book profits, which pulled the price to the strong support at $1.24. The bulls purchased the dip to this level and have again propelled the pair above the overhead hurdle at $1.46. The pair could now rally to $1.56 and then to the important resistance at $1.83. Alternatively, if the price turns down from the current level and breaks below the moving averages, it will suggest that the pair could remain range-bound for a few days.

Binance Coin (BNB) turned down from the overhead resistance at $338 but the bulls successfully defended the strong support at $275. This indicates a positive sentiment as the bulls are viewing the dips as a buying opportunity. The recovery may face resistance at the 20-day EMA of $301. If the price turns down from this level, the bears will again try to sink the BNB/USDT pair below $275. If that happens, it will suggest that the pair may oscillate in a large range between $183 and $338 for some time. On the contrary, if bulls push the price above the 20-day EMA, the pair could rise to $338. A break and close above this level could complete a bullish head and shoulders pattern. That could start a rally to $413 and then to the pattern target at $493. The 20-EMA on the 4-hour chart has started to turn up and the RSI is near the midpoint, indicating that the selling pressure may be reducing. If the price sustains above the 20-EMA, the pair could rise to the 50-SMA. A break and close above this resistance could increase the possibility of a rally to $338. Conversely, if the price turns down and breaks below the 20-EMA, the pair could again drop to the critical support at $275. If this level cracks, the pair will complete a bearish heads and shoulders pattern and drop toward $240.

EOS has formed the bullish inverse head and shoulders setup. The buyers pushed the price above the overhead resistance at $1.46 on Aug. 17 but the long wick on the day’s candlestick shows strong selling at higher levels. The bears pulled the price back below the breakout level of $1.46 on Aug. 19 but the positive sign is that the buyers did not allow the EOS/USDT pair to sustain below the 20-day EMA ($1.32). This indicates that lower levels are attracting buyers. If bulls sustain the price above $1.46, the positive momentum could pick up and the pair may rally to $1.83. If this resistance is also scaled, the rally could extend to the pattern target of $2.11. This positive view could invalidate if the price turns down and breaks below $1.24. The pair could then decline to the 50-day SMA ($1.17). The rally above $1.46 on Aug. 17 pushed the RSI on the 4-hour chart to deeply overbought levels. This may have tempted short-term buyers to book profits, which pulled the price to the strong support at $1.24. The bulls purchased the dip to this level and have again propelled the pair above the overhead hurdle at $1.46. The pair could now rally to $1.56 and then to the important resistance at $1.83. Alternatively, if the price turns down from the current level and breaks below the moving averages, it will suggest that the pair could remain range-bound for a few days.

Bitcoin slipped below the 20-day exponential moving average (EMA) of $22,864 on Aug. 17 and then below the 50-day simple moving average (SMA) of $22,318 on Aug. 19. The bulls are attempting to arrest the decline at the support line of the ascending channel. The 20-day EMA has started to turn down and the relative strength index (RSI) is in negative territory, indicating advantage to bears. If the price reverses direction from the moving averages, it will suggest that bears are selling on rallies. That could increase the possibility of a break below the support line of the channel. If that happens, the crucial support zone of $18,626 to $17,622 may come under attack. To avoid this situation, the bulls will have to push and sustain the price above the moving averages. If they do that, the BTC/Tether (USDT) pair could rise toward the resistance line of the channel. The buyers are aggressively defending the support line of the channel, but the downsloping moving averages and the RSI in the negative territory suggest that higher levels are likely to attract selling by the bears. If the price turns down from the current level or the 20-EMA, the likelihood of a break below the channel increases. If that happens, the bearish momentum could pick up and the pair could drop toward $18,626. The first sign of strength will be a break above the 20-EMA. Such a move will indicate that the selling pressure may be reducing. That could improve the prospects of a rally to the 50-SMA.

Bitcoin slipped below the 20-day exponential moving average (EMA) of $22,864 on Aug. 17 and then below the 50-day simple moving average (SMA) of $22,318 on Aug. 19. The bulls are attempting to arrest the decline at the support line of the ascending channel. The 20-day EMA has started to turn down and the relative strength index (RSI) is in negative territory, indicating advantage to bears. If the price reverses direction from the moving averages, it will suggest that bears are selling on rallies. That could increase the possibility of a break below the support line of the channel. If that happens, the crucial support zone of $18,626 to $17,622 may come under attack. To avoid this situation, the bulls will have to push and sustain the price above the moving averages. If they do that, the BTC/Tether (USDT) pair could rise toward the resistance line of the channel. The buyers are aggressively defending the support line of the channel, but the downsloping moving averages and the RSI in the negative territory suggest that higher levels are likely to attract selling by the bears. If the price turns down from the current level or the 20-EMA, the likelihood of a break below the channel increases. If that happens, the bearish momentum could pick up and the pair could drop toward $18,626. The first sign of strength will be a break above the 20-EMA. Such a move will indicate that the selling pressure may be reducing. That could improve the prospects of a rally to the 50-SMA.

Binance Coin (BNB) turned down from the overhead resistance at $338 but the bulls successfully defended the strong support at $275. This indicates a positive sentiment as the bulls are viewing the dips as a buying opportunity. The recovery may face resistance at the 20-day EMA of $301. If the price turns down from this level, the bears will again try to sink the BNB/USDT pair below $275. If that happens, it will suggest that the pair may oscillate in a large range between $183 and $338 for some time. On the contrary, if bulls push the price above the 20-day EMA, the pair could rise to $338. A break and close above this level could complete a bullish head and shoulders pattern. That could start a rally to $413 and then to the pattern target at $493. The 20-EMA on the 4-hour chart has started to turn up and the RSI is near the midpoint, indicating that the selling pressure may be reducing. If the price sustains above the 20-EMA, the pair could rise to the 50-SMA. A break and close above this resistance could increase the possibility of a rally to $338. Conversely, if the price turns down and breaks below the 20-EMA, the pair could again drop to the critical support at $275. If this level cracks, the pair will complete a bearish heads and shoulders pattern and drop toward $240.

The series of higher highs and higher lows suggest that Quant (QNT) is in a short-term uptrend. The bulls purchased the drop to the 50-day SMA of $100 and are attempting to resume the up-move. If the price sustains above the 20-day EMA of $111, it will suggest that the correction may be over. The QNT/USDT pair could first rise to $124 and then retest the important resistance at $133. If bulls clear this hurdle, the pair could rally to the overhead resistance zone between $154 and $162. Contrary to this assumption, if the price fails to sustain above the 20-day EMA, it will indicate that traders may be closing their positions on rallies. The bears will have to sink the price below $98 to gain the upper hand and signal the start of a deeper correction to $79. The pair has been correcting inside a falling wedge pattern. The buyers pushed the price above the resistance line of the pattern but could not sustain the breakout. This suggests that bears are active at higher levels. If the price sustains below the 50-SMA, the pair could slide to the 20-EMA. This is an important level to watch out for. If the price rebounds off this level, it will suggest that the short-term trend has turned in favor of the buyers. A break and close above $118 could indicate that the corrective phase may be over. Conversely, if the price slips below the 20-EMA, the pair may drop to $100.

Chiliz (CHZ) soared to $0.23 on Aug. 18 which pushed the RSI deep into the overbought territory. This may have tempted short-term traders to book profits and that pulled the price back below the breakout level of $0.20. A minor positive is that the bulls are attempting to defend the 20-day EMA of $0.17 and push the price back above $0.20. If they succeed, it will suggest that the sentiment remains positive and traders are buying on dips. That increases the likelihood of a retest of $0.23. If bulls clear this hurdle, the CHZ/USDT pair could pick up momentum and rally to $0.26. Contrary to this assumption, if the price fails to rise above $0.20, it will suggest that bears are selling on rallies. The bears will be back in the driver’s seat if they sink the pair below the 20-day EMA. The pair could then decline to the 50-day SMA of $0.13. The bulls are trying to defend the uptrend line but the recovery is facing strong resistance at the moving averages. The moving averages completed a bearish crossover on the 4-hour chart and the RSI is in the negative territory, indicating a minor advantage to sellers. If the price turns down and breaks below the uptrend line, the selling could intensify and the pair may drop to $0.16 and then to $0.14. Such a move will indicate that the bears remain in control. Instead, if the price breaks above the moving averages, the bulls will try to push the pair to $0.21 and later challenge the resistance at $0.23.

The bulls failed to push XRP above the overhead resistance at $0.39 on Aug. 8. This attracted sharp selling by the bears who pulled the price below the 20-day EMA ($0.37) on Aug. 9. A minor positive is that the bulls bought the dip and have pushed the price back above the 20-day EMA on Aug. 10. The buyers will again attempt to push the price above the overhead resistance zone between $0.39 and $0.41. If they succeed, the XRP/USDT pair could rise to $0.48 and later to $0.54. Contrary to this assumption, if the price turns down from the overhead resistance and breaks below the 50-day SMA ($0.35), it will suggest that the pair may remain range-bound between $0.30 and $0.39 for a few more days.

Ether turned down from $1,818 on Aug. 8 but the bears could not sink the price below the 20-day EMA ($1,637). This suggests strong demand at lower levels. The ETH/USDT pair rebounded off the 20-day EMA on Aug. 10 and has cleared the overhead hurdle at $1,818. If buyers sustain the price above this level, the pair could rally to the psychological level of $2,000 and then to $2,200. The rising moving averages and the RSI in the positive territory indicate that bulls have the upper hand. This bullish view will be invalidated if the price turns down and plummets below the 20-day EMA. If that happens, the pair may drop toward the 50-day SMA ($1,388). That could delay the start of the next leg of the up-move.

BNB turned down from the overhead resistance zone of $338 to $350 on Aug. 8 but the bears could not sustain the lower levels on Aug. 10. This suggests that bulls are aggressively buying the dips. The bulls will again attempt to clear the overhead zone. If they succeed, the BNB/USDT pair could pick up momentum and rally toward $414. Although the rising moving averages indicate advantage to buyers, the overbought zone on the RSI indicates that a minor pullback or a consolidation is possible in the near term. If the price turns down from the overhead zone, the first support is at $308. The bears will have to sink the price below this level to challenge the 20-day EMA ($296). This is an important level to keep an eye on because a break and close below it could sink the pair to $275.

Bitcoin turned down from $24,245 on Aug. 8 and dropped to the 20-day exponential moving average (EMA) ($22,966) on Aug. 9. The bulls aggressively purchased the dip on Aug. 10 and are attempting to push the price above the overhead resistance at $24,668. If they succeed, the BTC/USDT pair could pick up momentum and rally to $28,000. The bears may mount a strong resistance at this level but if bulls overcome this barrier, the pair could rise to $32,000. The gradually upsloping 20-day EMA and the relative strength index (RSI) in the positive territory indicate the path of least resistance is to the upside. Conversely, if the price turns down from $24,668, the bears will again attempt to sink the pair below the 20-day EMA. If they manage to do that, the pair could decline to the 50-day simple moving average (SMA ($21,708). A break below this level could tilt the advantage in favor of the bears.

Solana (SOL) rose above the 20-day EMA ($40) on Aug. 5 and the bulls thwarted attempts by the bears to sink the price back below the level. The buying resumed on Aug. 8 and the bulls will attempt to push the price to the overhead resistance at $48. The 20-day EMA is rising up gradually and the RSI is in the positive zone, indicating that the bulls have the upper hand. If buyers drive the price above $48, the bullish ascending triangle pattern will complete. The pair could then start a rally to $60 and thereafter to the pattern target at $71. Alternatively, if the price turns down from $48 like the previous two occasions, it will suggest that bears are defending the level aggressively. That could keep the pair stuck inside the triangle for a few more days. The bullish setup will invalidate on a break below the support line.

Cardano (ADA) bounced off the 20-day EMA ($0.50) on Aug. 5 and has reached the strong overhead resistance at $0.55. The 20-day EMA is sloping up and the RSI is in the positive territory, indicating that the path of least resistance is to the upside. If buyers thrust the price above $0.55, the ADA/USDT pair could start its northward march toward $0.63 and then to $0.70. The bears may pose a strong challenge at this level. To invalidate this positive view, the bears will have to sink and sustain the price below the 50-day SMA. That could extend the stay of the pair inside the range between $0.40 and $0.55 for a few more days.

Ripple's (XRP) price has been squeezed between the 20-day EMA ($0.36) and the overhead resistance at $0.39 for the past few days. Usually, such tight ranges lead to a range expansion. The rising 20-day EMA and the RSI in the positive area indicate advantage to buyers. If bulls push and sustain the price above $0.39, it will suggest the start of a new up-move. The XRP/USDT pair could then rise to $0.48 and later to $0.54. This positive view will invalidate in the near term if the price turns down and breaks below the 20-day EMA. The pair could then drop to the 50-day SMA ($0.35). Such a move will suggest that the pair may spend some more time inside the range.

BNB recovery has reached the strong overhead resistance zone between $338 and $350 where the bears are expected to mount a strong defense. If the price turns down from the current level, the BNB/USDT pair could decline to the 20-day EMA ($289). This is an important level to keep an eye on because a strong bounce off it will suggest that the positive sentiment remains intact and traders are viewing dips as a buying opportunity. The bulls will then make one more attempt to clear the overhead zone. If they succeed, the BNB/USDT pair could further pick up momentum and rally toward $414. This positive view could invalidate in the short term if the price turns down and breaks below the 20-day EMA.

Buyers pushed Ether (ETH) above the overhead resistance at $1,700 on Aug. 5 and the bulls successfully defended the breakout level on Aug. 6 and 7. Buying resumed on Aug. 8 and the bulls pushed the price above the overhead resistance at $1,785. If bulls sustain the price above $1,785, the ETH/USDT pair could pick up momentum and rally to the psychological level at $2,000. This level may attract selling by the bears but if bulls arrest the next decline above $1,700, the likelihood of a break above $2,000 increases. If that happens, the pair could rally to the downtrend line. This positive view could invalidate in the short term if the price turns down and breaks below the 20-day EMA ($1,606). The pair could then slide to the 50-day SMA ($1,362).

Bitcoin bounced off the 20-day exponential moving average (EMA)($22,846) on Aug. 7 and the momentum picked up on Aug. 8. The buyers pushed the price above $24,000 and could challenge the overhead resistance at $24,668. The 20-day EMA is sloping up and the relative strength index (RSI) is in the positive territory, indicating that bulls are in control. If buyers propel the price above the overhead resistance, the BTC/USDT pair could pick up momentum and rally to $28,000 as there is no significant resistance in between. The bears may try to stall the recovery at this level but if bulls overcome this barrier, the up-move could reach $32,000. Contrary to this assumption, if the price turns down from $24,668, the pair could drop to the 20-day EMA. This is an important level to watch out for because a break below it could drag the price to the 50-day simple moving average (SMA($21,594). A break below this level could put the bears back on top.