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The market data are taken from HitBTC exchange.
Means a price Crash, that the basic principles of a class of investment are good? In many cases, but the market the fundamental principles of an emerging technology typically gets wrong, both in the short and in the long term.
In may 1997, the share price of Amazon was 18 US dollars (15,87 EUR). The short-term expectations catapulted him until December of 1998 to US $ 300 (264 Euro) and from there he fell to 6 US Dollar (€5.29) per share after the dot-com bubble was burst. At this time, the market underestimated Amazon’s potential is strong and those who have not believed in the company, saw their beliefs confirmed. The model proved, however, is the opposite: Amazon has become the second company in the history, the market capitalization of 1 trillion. US dollars (882 billion Euro).
The Blockchain entrepreneur, and industry consultant Vinny Lingham told Cointelegraph: „The climate may change again, if company a solid application develop cases, to gain momentum and a strong business value prove to make a difference.“ Just because the rates are fallen sharply does not mean the end of an asset class.
Since the short-term rate is determined the development of the technical aspects, let’s look at the Charts and predict the probable course of development.
BTC/USD
In a waterfall-like decline in the support levels do not hold. Thus, it is difficult for the soil to predict. The recreations are usually only about 1-3 days. Bitcoin tried on the 21. To recover November. This attempt to fail at 4.799,74 U.S. dollars (4.232,77 Euro).
Then continued with the Pair BTC/USD its in a downward trend and a new Low is reached. Both moving averages tend to be downward and the RSI is well in the oversold area. This shows that the sellers have the upper hand.
The immediate support below is at 4,100 US dollars (3.615 euros). Including may extend the decline to 3,500 US dollars (3.086 euros) to 3,000 dollars (2.645 euros).
Every recovery attempt will encounter a strong resistance at the downtrend line and at 5,000 US dollars (4.409 Euro). Although we want to use the current decline to Buy, we believe that the traders should wait for a level, before opening Long positions.
XRP/USD
Ripple has fallen below the upward trend line, suggesting that he, too, suffers from the negative mood. However, it is still well above its lows, which confirms his above-average performance.
The moving averages have started down bend it over, and the RSI has fallen below 40. This suggests that the supply exceeds the demand.
The next support further down is 0,37185 US Dollar (0,3280 euros) and including 0,26913 US Dollar (0,2374€). The XRP/USD Pair indicates a consolidation, if the prices rise quickly on the upward trend line and the moving averages flatten out. For now, it remains to be seen is best.
ETH/USD
Ethereum finds no buyer at the higher levels. The Pullback stagnated at 141,91 US Dollar (125,15 Euro), indicating a lack of support by buyers.
Currently, the bears are trying to push the decline to the next support level at 110 US dollars (97 Euro). Although the markets everything is possible, we believe that the oversold levels in the RSI suggests likely on a Pullback. We recommend that you do not act on good luck, therefore, we wait until a new purchase constellation forms, before we suggest a trade.
above the ETH/USD Pair at 167,32 US Dollar (147,56 EUR) against a rigid resistance. The 20-day EMA is also close to this value, which makes this a critical resistance, the bulls can be hard to overcome.
XLM/USD
Stellar is on a critical level. If the bears push the price below 0,184 US Dollar (0,162 Euro), it is negative and could start a new downward trend. The lower levels, you should keep in mind, 0,1547188 US Dollar (0,1365 euros), the day low of 18. March, and 0,138565 US Dollar (0,1222 euros), the day’s low of 22. December of last year.
If the bulls defend the level of 0,184 US Dollar (0,162 Euro), however, could lie in the XLM/USD Pair on a Pullback to the 20-day EMA and the downtrend line. Traders should still wait for a new buy-it forms a constellation, before opening Long positions.
EOS/USD
Although EOS has fallen below the critical support at 3,8723 US Dollar (3,4155 Euro), he is not on the decrease. The a certain amount of buying support at lower levels. The RSI is in the oversold area, pointing to a recovery attempt.
If the bulls manage to hold the course on 3,8723 US Dollar (3,4155 Euro), an increase of the downward trend line and above there are 4,493 dollars (3,963 euros). The 20-day EMA is also in the vicinity of this level, so that 4,493 dollars (3,963 euros) represents a rigid resistance.
If the EOS/USD Pair did not manage to come across 3,8723 US Dollar (3,4155 Euro) for 3 US dollars (2.65 euros). We see a no bull sample, which is why we do not recommend trading.
LTC/USD
The cops have tried in the last three days, to keep the support at 32 US dollars (is 28.22 EUR), could not raise Litecoin but higher.
However, the RSI is in oversold area suggests a probable Pullback. Further to the above, the LTC/USD Pair at the 20-day EMA and above the Zone between 47,246 US $ (41,672 Euro) and 49,466 US Dollar (43,630 Euro) on a rigid resistance.
If the bears dcourse en however, under the support zone between 32 US Dollar (is 28.22 EUR) and 29,653 US Dollar (26,155 euros), the drop may extend the decline to the next support at US $ 20 (17,64 Euro).
ADA/USD
The Pullback in Cardano didn’t make it on $ 0.05 (0,044 Euro). The course is now back to the support at 0,041 US Dollar (0,036 Euro).
If the ADA/USD Pair falls and under 0,041 US Dollar (0,036 Euro), it may on the next lower target of 0,025954 US Dollar (0,0229 Euro) slides.
If it’s the cops, however, manage to jump from the current levels back up, will try the digital currency once again, about 0.05 US Dollar (0,044 Euro) break out. If this succeeds, the Pullback can extend to 0,060105 US Dollar (0,0530 Euro). This level is likely to act as a large resistance, as was previously the support and the 20-day EMA is also close to this level.
XMR/USD
Although the cops on the 21. 22. November, tried to have a Pullback in the case of Monero, they could not bring the rate to about 72 US dollars (63 euros). As a result, the course is bent down again.
If the XMR/USD Pair below $ 60 (53 euros), may extend the decline to the next support at 46 US dollars (41 euros).
If the virtual currency will find buyers at the current level, try the cops again, about the level of 72 US-dollars (63 euros) to escape. If this level is overcome, the Pullback up to the next overhead resistance at 81 US dollars (71 euros).
TRX/USD
TRON didn’t come in the last two days on the previous support which is now resistance. This is 0,01587681 US Dollar (0,0140 Euro). A small ray of light, however, is that the bulls, the rate on the low of the day of 20. November, the is 0,0122194 US Dollar (0,0108 Euro), were able to keep up.
We expect that the bulls will try to climb over 0,01587681 US Dollar (0,0140 Euro) to reach the next resistance at 0,0183 US Dollar (0,0161 Euro).
the decline cover If the TRX/USD Pair, our expectations, in Spite of, falls under 0,0122194 US Dollar (0,0108 Euro), but up on the next lower level in 0,00844479 US Dollar (0,0074€).
DASH/USD
Dash is still in the vicinity of the support of the descending channel. This shows that the sellers have the upper hand.
A case the channel would be a negative development that could leave the DASH/USD Pair to the next support at 75 US dollars (66,14 Euro) to decrease.
If the support of the channel holds, try the bulls another Pullback to US $ 120 (105,82 EUR) and to reach the next overhead resistance of 129,58 US Dollar (114,27 EUR). We believe that traders should wait until there is a reversal of the trend before you open a Long Position.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.