1st Aug - Crypto Technical & Market Watch
(By Shivkumar)
1) BTC/USD
Bears failing below $ 9080, now the next target which will be retested at $13,973.Below $9,080, the next support is at $7,451.63.Traders can initiate long position above $ 9080 as the signs are positive.
2) ETH/USD
ETH has started a recovery. If rally above $227 and a minor resistance at $ 235 and it will gain strength.Traders can initiate buy once it crosses minor resistance. But bears still have the upper hand. We might get a clear directional move within the next few days.
3) XRP/USD
XRP moved above traders can wait for the price to close above $0.34229 before initiating long positions. The stop loss for the trade can be kept at $0.275 and the first target ) $ 0.32 and above $ 0.45. XRP is stuck in range, allocate only 50% position size for this trade.If the bulls fail to XRP/USD pair it might again slide back to $0.30, below which a retest of $0.27795 is possible. A break of $0.27795 will be a negative it will trigger several stop losses and can result in a quick decline to $0.19.
4) BCH/USD
BCH risen above $ 324 whih is a positive sign. If it breaks out $ 345 than it can target $ 440. We recommend buy position for these pair.If the bear sinks than for few days it will be range bound if it breaks below $ 251 and the next support will be 227.
Disclosure: The author holds no cryptocurrency at the time of writing.
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