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The market data are taken from HitBTC exchange.
After three days, the crypto markets are continuing their downward trend. The total market has fallen, currencies, capitalization of Crypto under 170 billion US dollars (148,9 Euro) – a new low for the Year.
After the volatility had increased and a renewed downward trend used in forecast, some analysts abysmally low Bitcoin prices. If a negative mood, can deter such forecasts new investors, and weaker hands, forcing their stocks to sell.
this Is the first Time that Bitcoin has dropped in its young history, about 74 percent from its peak? By no means! According to Charlie Bilello, Director of research at Pension Partners, like the digital currency twice to 94 percent of their peak, and again from the ashes risen. The third worst decline amounted to 85 percent of its peak. This shows that this asset class has already suffered before massive declines. Bitcoin this time only more in the spotlight compared to previous declines.
In a bear market and panic phases of the fundamental aspects in the Background, and the markets are just driven by the mood. Although these phases offer an opportunity for long-term stock, it is better to wait before buying even at the end of the fall, because the prices can drop in Panic selling abysmally.
What are the low levels that can attract buyers? Let us find out.
BTC/USD
After a three-day break, the bears strike back with full force. Bitcoin is easily fallen under the assistance of 5.450 US Dollar (4.773 Euro). The cops have not managed to recover to the level of 5,900 US dollars (5.167 Euro). This indicates a selling pressure at every small rise.
The 20-day EMA and the 50-day SMA fell and the RSI is in the oversold area. This shows that the seller will Couple strongly to repel furthermore, the BTC/USD without waiting for a Pullback.
If the cops manage to offer a support to the important psychological level of 5000 US dollars (4.379 euros), the decline in 4700 US dollars (4.116 euros) and including 4100 US dollars (€3,590). The RSI is about 15, and this suggests that there were already too many sales and it can come at any time to a recovery. The strength of the recovery will determine whether the decline is finished or whether it goes even further.
If the price is corrected, it is difficult to predict where the correction will stop. Therefore, we will observe each level of support. We wait until the decline is over and a new purchase constellation forms, before we try to buy it again. Until then, it is best to wait before you take a wrong step.
XRP/USD
Ripple is still currencies of the stronger Crypto, since he clearly stands above its recent low.
The moving averages are flat and the RSI is close to the center. This suggests a trade within a margin between 0.40 US Dollar (EUR 0.35) and 0.565, US Dollar (0,494 Euro).
A case under the upward trend line and US $ 0.40 (0.35 Euro) would be a negative Signal. This can lead to a decrease in 0,37185 US Dollar (0,3248 euros) and including 0,26913 US Dollar (0,2351 Euro). If the cops on 0,565 US Dollar (0,494 Euro) break out, can climb the XRP/USD Pair up to 0,625 US Dollar (0,546 Euro) and, in addition, on 0,76440 US Dollar (0,6677 Euro). Traders should keep this Coin in mind, since he has held in the recent case.
ETH/USD
Ethereum suffers losses and has recorded a new low for the year. He is in fact under the day’s low of 167,32 US Dollar (146,54 Euro) of 12. September like.
If the rate (UTC) includes, among 167,32 US Dollar (146,54 Euro), continuing the downward trend. This can pull the ETH/USD Pair to the next support of 136 US $ (119 Euro) and 110 US $ (96 Euro). The falling 20 day EMA and the RSI is in the oversold area, indicate that the path of least resistance is down.
If the cops, however, support the digital currency to the lower levels and rates on the brand of 167,32 US Dollar (146,54 Euro) lifting, you can on the 20-day EMA climbing. We wait until there is a reversal of the trend, before we suggest a trade.
XLM/USD
Stellar has fallen below the rising channel. If the rate closes below the support line (UTC), may extend the decline to 0,21494424 US Dollar (0,1877 euros) and including 0,20400799 US Dollar (0,1782 Euro).
The bulls have not managed to take advantage of the breakout from the descending triangle pattern. This is a negative sign. The XLM/USD Pair will resume its downward trend again, if the bears manage to push it below the critical support at 0,184 US Dollar (0,161 EUR). The flat moving averages, and the RSI, which is just about 41, indicate a possible range. While the upper end of the range at 0.30 US dollars (€0.26), must crystallize the lower end of the range only. A breakout above 0,305 US Dollar (0,266 Euro) would turn the Signal for a probable trend.
EOS/USD
After he had struggled to keep on top of 4,493 dollars (3,925 Euro), fell by EOS under the support and also fell under the underlying level of 4,1778 US Dollar (3,6492 Euro). The final support lies at 3,8723 US Dollar (3,3824 Euro). The digital currency also falls under this, it would mean a new low for the year.
The 20-day EMA tilts downwards and the RSI is in the oversold area. This shows that the sellers have the upper hand. After the assistance in 3.8723 US Dollar (3,3824 Euro) is the next support is at $ 3 (2,63 Euro). The EOS/USD Pair is beginning to show signs of strength, if it breaks out from the moving averages and the downward line. We recommend traders to wait until the drop is completed and a new purchase of constellation, before opening new Long positions.
LTC/USD
Litecoin seems to fall into a bottomless hole, as he recorded new lows. After today’s decline, it fell below the support at US $ 40 (35 Euro).
Both of the moving averages tend to be downward and the RSI is in the oversold area. This shows that the bears are in control. The next support is located at 32 US dollars (28 euros). We expect that there will be Attempts, of the support of between 30 US dollars (35 euros) and 32 US dollars (28 euros) to jump back to the top. With the recent decline in everything was thrown technical the LTC/USD Pair on the pile. It must occur in a phase of consolidation, before a new upward-trend can start.
ADA/USD
After he had held in the past five days in 0,060105 US Dollar (0,0525 Euro), fell to Cardano under the support and recorded a new all-time lows. The next support lies at 0,043722 US Dollar (0,0382€).
The RSI is at the oversold area, which has previously led to a recovery. However, the ADA/USD will face Pair at each recovery sales. Traders should wait until the fall comes to an end, and there are repeat buyers, before you buy it.
XMR/USD
The jump from 81 US dollars (71 euros) back to the top of the 15. November was only short-lived, because there was no follow-up purchases. Today, Monero fell below the support at 81 US dollars (71 euros). If the bears can manage to force a conclusion (UTC) support, that would be the lowest in over a year.
The case can lead to a decline to the next support at 61,50, US Dollar (53,86 EUR). We expect strong support between US $ 60 (52,55 Euro) up to 61,50 US Dollar (53,86 EUR). However, since both the moving averages to the down tilt as well as the RSI in the oversold area, any recovery of strong sales. The XMR/USD Pair will need to try to form a bottom before a trend to announce reversal.
TRX/USD
TRON is the range in which he for the 8. August was like. This is a negative Signal. He has continued on the downward trend again. This means that the price can decline to the next support at 0,00844479 US Dollar (0,0074€), if the support at 0,01587681 US holds dollars (0,0139 Euro).
The RSI is in the oversold area, which may lead to a recovery. But since the 20-day EMA slants down, the TRX/USD Pair at 0,0183 US Dollar (0,0160 EUR) and the moving averages on a rigid resistance to bump. Our bear view is invalid, if the cops reverse course within the next few days quickly and 0,0183 US Dollar (0,0160 EUR).
IOTA/USD
IOTA is currently in a descending channel. He is again fallen to just 0,3501 US Dollar (0,3058 Euro), from where he at 14. November has jumped to the top.
If the bulls manage to jump up again and could climb the IOT/USD Pair on on 0,4037 US Dollar (0,3526 Euro). If the bears let on the other hand, the rate on 0,3501 US Dollar (0,3058 Euro), the decrease may extend the decline to the next support at $ 0.32 (EUR 0.28), and including up to 0.23 US-Dollar (EUR 0.20).
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.