28th July - Cryptocurrency Price Analysis - By Shivkumar
If the price closes above $10,400, that has a target objective of $11,870.50. This is the short-term target.
if it breaks $ 11,870 than it will have a target objective of $16,997. This is the medium-term target.
The above two price target if the bulls break and the charts also suggest which has a target objective of $28,881.90, which is likely to be achieved in the long-term.
Bearish if the pair fails to sustain above the $10,400–$10,500 resistance zone, the bears will try to sink the price back below $10,000.
Since breaking out of the $253.556 resistance,shows that traders are aggressively buying as they fear missing out on the rally.
Chasing the price rally is a risky strategy, traders should wait for the dip and consolidation with a stop loss and a strategy.
The first support on the downside is $288.599, and if it rebounds it will target $ 366 and if the momentum continues the next target on the upside is $480.
Bearish if bears sink the price below $288.599, than we can see deeper correction and few days of consolidation.
The price above $0.20 suggest in the overbought zone and the bulls are in command, which might slightly target $ 0.23 with minor resistance from bears.
Bearish below $ 0.21, it will be a huge negative and a drop to $0.188499.
BCH broke $260 resistance, which shows that the bulls target the next level $280.47.
If the bulls can push the price above $227, a new uptrend is likely.
if the bulls fail to push the pair above $280.47, a drop to $260 is possible.
The pair will be range bound for few days.
Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update firstname.lastname@example.org || Facebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto|| Whats App :- +91-70439-12326