17th September - Technical & Market Watch
A break below the immediate support of $9,873.85 will sink the price. If the cryptocurrency plummets below the triangle and $9,080, it can drop to the next support zone of $7,451.63–$7,337.78. If bulls defend the support at $9,080, the BTC/USD pair might remain range-bound for a few days.The first target on the upside is a retest of the yearly high at $13,973.5. Hence, traders can wait and buy on a breakout of the triangle as proposed in an earlier analysis.
A breakout of $203.708 will indicate that the bulls have overpowered the bears and the ETH/USD pair is likely to start a new uptrend. The pair will gain momentum on a breakout above $235.70. It can again retest the support at $163.755. A breakdown of this support will extend the decline to $150. We will wait for the price to sustain above $203.708 before suggesting a trade in it.
If bears sink the price below $0.24508, a retest of the yearly low at $0.225 will be in the cards. A drop to a new 52-week low will be a huge negative and can extend the fall to $0.19. Contrary to our assumption, if the XRP/USD pair rebounds sharply from the current levels or $0.24508 and rises above the moving averages, it will indicate strength. If the price sustains above $0.27795, a rally to $0.34229 is possible.
If the cryptocurrency breaks out of the $ 300, it can rally to $360.The trend will turn hugely negative if the pair breaks down and sustains below $ 302. The bearish setup can drag the price to $166.98 and below it to $105. We will wait for a breakout above $360 before recommending a trade in it.
Disclosure: The author holds no cryptocurrency at the time of writing.
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