21 Jan - Crypto Technical & Market Watch
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The price can now dip to $8,247, which is likely to act as a strong support, but the bulls are in control. Aboove $ 8247 the bulls will again attempt above $ 9024. If successful, a rally to $10,360.89 will be on the cards. If the bears sink the price below the $ 8247 , a drop to $7,856.76 is possible and can break to $ 7000.Traders can retain the stop loss on their buy positions at $7,600.
Buyers emerging close to $157.50 and sellers near the $ 181, the possibility of a range-bound action for the next few days increases. Above the $ 181 the target to $197.75 while a break below $157.50 can sink the price to at $153. The pair will turn bearish on a break below $151.829. Traders can retain the stop loss on the remaining buy positions at $150.
If the bulls can carry the price above the $ 0.26, a move to $0.31503 is possible. If the bears sink the price below the $ 0.22 a drop to $0.20041 is possible. Traders can keep the stop loss on the buy positions at $0.1995.
Currently, the price is stuck between $306.78 and $360. Bulls can push the price back above $360 a retest of $403.88 and above it $423.40 is possible. On the other hand, a break below $306.78 can drag the price to $270.15. Traders can wait for a new buy setup to form before initiating long positions again.
Disclosure: The author holds no cryptocurrency at the time of writing.
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