13th March - Crypto Technical & Market Watch
For the past three days bulls were unable to carry the price above $8,000, which showed that the bulls were in no hurry to buy and attracted selling.Traders are offloading their positions in a state of panic which dragged the price to $ 5640.If the price does not recover and close above $6,435, the decline can extend to which is close to $4,800 levels. We anticipate the bulls to defend this level aggressively.when fear grips the traders, support levels are rarely respected, and bottoms formed after such panic selling.Long-term investors should look at the current decline as a buying opportunity. We expect the pair to form a bottom within the next few days.
The pair fell to a low of $122.498, which is just above the critical support at $117.090. Currently, the bulls are trying to defend which is a positive sign as it shows some buying at these levels.Bearish from the current level & will watch the price action at $117.090 and suggest long positions if the pair forms a buying opportunity.
The XRP/USD pair fell below the critical support at $0.17468 and fell to a low of $0.14567.If the price can bounce and close above $0.17468, it will signal buying at lower levels. We will wait for a positive trade setup.
We anticipate the bulls to defend the support at $169.62 and price can re-enter the channel, it will signal buying at lower levels.Bearish below $169.62 and fall to$150 and below it $105. We will wait for a positive trade setup.
Disclosure: The author holds no cryptocurrency at the time of writing.
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