BTC/USD

Bitcoin Price Analysis – BTC/USD

Bitcoin, the first largest cryptocurrency having its current market cap stands at $62,017,804,078 (03:51 UTC) on January 28 dropped in current value by 16.57% relative to January 06 however it gained in value by 6.29%compared to December 16 as interpreted from the graph above. The strong bearish pressure is believed to have caused a drop in value since both moving averages have significantly declined to represent a negative sign. With this, the BTC shows that the bears have the upper hands and may continue until the next “uptrend” takes place. The current value traded below the 20-day EMA stating the significant ‘downtrend’ in value. Let us talk about a specific milestone that this cryptocurrency attained in the recent past. The BTC remained range bound from December 28 to January 06 as the cryptocurrency rallied from a low of $3716 to a high of$4200 which is a 13.02 percent return within eight days. Based on the current scenario, the next support level could be $3490.

Ripple Price Analysis – XRP/USD

XRP/USD

Ripple, the second largest altcoin with its current market cap stands at $12,470,718,963 (03:51 UTC) on January 28 dipped in current value by 28.2% relative to December 24 however it was up by 3.17% compared to January 15 as interpreted from the graph above. The current value traded below the 20-day EMA which signifies ‘downtrend’ in value. Traders should remain on sidelines until the next ‘uptrend’ takes place. Since both moving averages have significantly declined to represent a negative sign. The XRP shows that the bears have the upper hands and may continue until the next “uptrend” takes place. Let us talk about a specific milestone that this cryptocurrency attained in the recent past. The XRP remained range bound from December 17 to December 24 last year, as the cryptocurrency rallied from a low of $0.339 to a high of $0.4668 which is a 37.7 percent return within seven days. Based on the current scenario, the next support level could be $0.29.

Ethereum Price Analysis – ETH/USD

ETH/USD

The third largest altcoin, Ethereum having its current market cap stands at $11,512,215,742 (03:51 UTC) on January 28 declined in current value by 32% relative to January 06 however it increased by 24% compared to December 16 as interpreted from the graph above. As we can estimate from the graph above that the current value traded below 20-day EMA which shows the significant ‘downtrend’ in value. Both moving averages have significantly declined to represent a negative sign. The ETH shows that the bears have the upper hands and may continue until the next “uptrend” takes place. However, at the beginning of this year, the ETH/USD remained ‘uptrend’ for some time thereby offering the desired outcome. Let us talk about a certain milestone that this cryptocurrency attained in the recent past. The ETH remained range bound from December 27 to January 02, as the cryptocurrency rallied from a low of $118 to a high of $164 which is a 38.9 percent return within five days. Based on the current scenario, the next support level could be $105.

EOS Price Analysis – EOS/USD

EOS/USD

If we discuss the fourth largest cryptocurrency – EOS having its current market cap stands at $2,126,856,078 (03:51 UTC) on January 28 dropped in current value by 21.9% relative to January 09 however it up again by 28.6% compared to December 07 as interpreted from the graph above. Since the current price trading below the 20-day EMA elaborating “downtrend” in value. However, the 14-day RSI formed a “positive divergence” since last year which signifies a bullish sign. Since both moving averages have significantly declined since mid-November last year representing a negative sign, the EOS shows that the bears have the upper hands and may continue until the next “uptrend” takes place. Traders and all those community users that long awaited to invest in this altcoin should remain on the sideline until the next “uptrend” takes place. Let us talk about a specific milestone that this cryptocurrency attained in the recent past. The EOS remained range bound from December 28 to January 08, as the cryptocurrency rallied from a low of $2.37to a high of $2.97 which is a 25.3 percent return within nine days. Based on the current scenario, the next support level could be $2.35.

Bitcoin Cash Price Analysis – BCH/USD

BCH/USD

The fifth largest cryptocurrency- Bitcoin Cash with its current market cap stands at $2,100,132,671 (03:51 UTC) on January 28 dipped in current value by 41% relative to December 23 however it up again by 46.8% compared to December 15 as interpreted from the graph above. Since current value traded below 20-day EMA stating ‘downtrend’ however, this altcoin is poised to offer the excellent return going forward. The fall in value relative to December 23 was due to strong bearish pressure. Both moving averages have significantly declined since mid-November last year representing a negative sign. The BCH shows that the bears have the upper hands and may continue until the next “uptrend” takes place. The BCH remained range bound from October 29 to November 05 last year, as the cryptocurrency rallied from a low of $410 to a high of $632 which is a 54 percent return within seven days. Based on the current scenario, the next support level could be $109.

Tether Price Analysis – USDT/USD

USDT/USD

Tether, the sixth largest altcoin having its current market cap stands at $2,041,464,966 (03:51 UTC) on January 28 dropped in current value by 2.82% relative to January 06 however it up again by 0.59% compared to January 27 as interpreted from the graph above. Besides creating ‘downtrend’ in value today, this altcoin experienced “uptrend” at the beginning of this year as interpreted from the graph above. The current value in value relative to January 06 was due to the competitive forces and bearish outlook. Traders should remain on the sidelines and wait until the next uptrend takes place. The USDT/USD pair remained range bound from December 13 to December 28 last year, as the cryptocurrency rallied from a low of $1.01630 to a high of $1.05178 which is a 3.49% percent return within 15 days. Based on the current scenario, the next support level could be $1.020.

Litecoin Price Analysis – LTC/USD

LTC/USD

If we discuss the seventh largest cryptocurrency- Litecoin having its current market cap stands at $1,917,632,836 (03:51 UTC) on January 28 dropped in current value by 22.39% relative to January 06 however it up again by 33.4% compared to December 13 as interpreted from the graph above. The strong bearish pressure caused a drop in value. The LTC/USD pair remained ‘uptrend’ at the beginning of this year thereby creating bullish sigh. However, since current value traded below 20-day EMA which signifies ‘downtrend’ in value, let us not forget that this altcoin very soon crosses the EMA and start trading beyond it thereby creating uptrend! Since both moving averages significantly declined since November last year representing a negative sign. The LTD shows that the bears have the upper hands and may continue until the next “uptrend” takes place. Let us talk about a specific milestone that this cryptocurrency attained in the recent past. The LTC remained range bound from December 28 to January 05 as the cryptocurrency rallied from a low of $29 to a high of $41 which is a 41.38 percent return within eight days. Based on the current scenario, the next support level could be $31.

Tron Price Analysis – TRX/USD

TRX/USDTron, the eight largest altcoins by market cap (CoinMarketCap) with its current market cap stands at $1,825,924,291 (03:51 UTC) on January 28 increased in value dramatically by again by 32% compared to January 13 as interpreted from the graph above. As we can from the graph above that the current value traded above the 20-day EMA which elaborates significant “uptrend” in value. So the traders may create the long position as the current trend may expect to last to the extent that the price traded above EMA. With this, the 14-day RSI formed a “positive divergence” since last year which signifies a bullish sign. Amid this, the TRX/USD pair experienced ‘overbought’ after the beginning of this year which foretells the good sign – bullish sign! Let us talk about a specific milestone that this cryptocurrency attained in the recent past. The TRX remained range bound from December 16 to January 09 as the cryptocurrency rallied from a low of $0.0131 to a high of $0.0302 which is a 131 percent – an extraordinary return within 24 days. Based on the current scenario, the next support level could be $0.025.

Stellar Price Analysis – XLM/USD

XLM/USD

Stellar, the ninth largest altcoin having its current market cap stands at $1,769,821,240 (03:51 UTC) on January 28 slashed in current value by 34% relative to December 24 as interpreted from the graph above. However, the XLM/USD pair remained “uptrend” from January 05 to January 09 as interpreted from the graph above. The major fall in value was due to strong bearish pressure and macro factors from around the world. Since both moving averages significantly declined since mid-November representing a negative sign. The XLM shows that the bears have the upper hands and may continue until the next “uptrend” takes place. Since current price traded below 20-day EMA elaborating “downtrend” in value. Let us talk about a specific milestone that this cryptocurrency attained in the recent past. The XLM remained range bound from December 16 to December 24 last year, as the cryptocurrency rallied from a low of $0.0956 to a high of $0.1367 which is a 42.9 percent return within eight days. Based on the current scenario, the next support level could be $0.088.

Bitcoin SV Price Analysis – BSV/USD

BSV/USD

The tenth largest cryptocurrency- Bitcoin SV having its current market cap stands at $1,192,479,605 (03:51 UTC) on January 28 dropped in current value by 41.21% relative to December 20 however it up again by 58.5% compared to November 22 as interpreted from the graph above. The significant fall in value due to strong bearish pressure and competitive forces. Since both moving averages significantly declined to represent a negative sign. The BSV shows that the bears have the upper hands and may continue until the next “uptrend” takes place. Traders should remain on the sideline until the next uptrends take place. Let us talk about a specific milestone that this cryptocurrency attained in the recent past. The BSV remained range bound from December 16 to December 20 last year, as the cryptocurrency rallied from a low of $69.5 to a high of $126 which is an 81 percent return within four days. Based on the current scenario, the next support level could be $65.

Cardano Price Analysis – ADA/USD

ADA/USD

If we discuss the eleventh largest cryptocurrency-Cardano with its current market cap stands at $1,022,323,338 (03:51 UTC) on January 28 dropped in current value by 27.7% relative to January 09. The strong bearish pressure that caused a drop in current value. However, at the beginning of this year, this altcoin experienced ‘uptrend’ in value. Both moving averages significantly declined since mid-November last year representing a negative sign. The ADA shows that the bears have the upper hands and may continue until the next “uptrend” takes place. Traders that want to create a long position should remain on sidelines to the extent that the next uptrend takes place. Let us talk about a certain milestone that this cryptocurrency attained in the recent past. The ADA remained range bound from December 28 to January 08 as the cryptocurrency rallied from a low of $0.0378 to a high of $0.0520 which is a 37.5 percent return within 11 days. Based on the current scenario, the next support level could be $0.0380.

Binance Coin Price Analysis – BNB/USD

BNB/USD

If we discuss the twelfth largest cryptocurrency-Binance Coin with its current market cap stands at $901,310,721 (03:51 UTC) on January 28 dropped in current value by 4.7% relative to January 27 however it up again by 20.5% compared to January 13 as interpreted from the graph above. As we can from the graph above that the current value traded above the 20-day EMA which elaborates significant “uptrend” in value. So the traders may create the long position as the current trend may expect to last to the extent that the price traded above EMA. With this, the 14-day RSI formed a “positive divergence” since last year which signifies a bullish sign. Let us talk about a certain milestone that this cryptocurrency attained in the recent past. The BNB remained range bound from December 28 to January 07 as the cryptocurrency rallied from a low of $5.406 to a high of $7.160 which is a 32.4 percent return within ten days. Based on the current scenario, the next support level could be $6.95.

(Excerpt) Read more Here | 2019-01-28 12:18:18
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