1st Feb - Crypto Technical & Market Watch
We can see the bulls to defend at $8,736, which is just below the 200 moving average $8,881. Above $8,736, the target $9,600. If successful, the pair is likely to move up to $10,360.89. Bearish below $ 8,736, and can fall to $8,240.67. Negative if the price falls below support at $7,856.76. Traders can trail the stops on their buy positions to $8,200, which can be tightened further if the price dips below the $8736.
The price has reversed direction from $186.969. There is a strong support at $173.841, and 200 MA at $175. If this support breaks, bulls might defend at $166. Above these support levels bulls will make another attempt to move up to $197.75. Bearish below $165, the next support to watch out for is the $157.50 to $150 zone. Traders can trail the stops on the buy positions to $160.
Bulls are struggling to sustain at $0.2326. Bulls will make another attempt to scale above the resistance at $0.25401. If successful, a move to $0.31503 is possible.The pair is struggling to move up traders should reduce their risk by trailing the stops on the buy positions to $0.21.
Bearish at $360 but if the bears further sink the price below this support,at $335 is likely. Above $360 it will increase the possibility of a breakout of $403.88. Bearish below $ 360, a drop to $306.78 is possible. If this support holds,it might consolidate for a few days. The pair will turn negative on a break below $296.13.
Disclosure: The author holds no cryptocurrency at the time of writing.
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