3rd September - Crypto Technical & Market Watch
A balance between buyers and sellers and makes it difficult to predict the direction of the next move. It is best to wait for the price to make a decisive move before buying.If the next dip to $9,080 breaks below it, a slide to $7,451.63 is probable. if the BTC/USD pair picks up momentum above $ 10,394,it can result in a retest of the yearly highs at $13,973.50. traders can initiate a long position on a breakout and close $ 10,394. The initial stop loss can be kept at $9,000.
If bulls push the ETH/USD pair above $ 185, a rise to $235.70 is probable.If the price again turns down from $ 185 bears will attempt to resume the downmove and sink the cryptocurrency to the next support at $150.We will wait for the trend to change before suggesting a trade in it.
The bulls have managed to keep XRP above the critical support of $0.24508 for the past five days, which is a positive sign. This shows some buying at lower levels.the XRP/USD pair might again retest the $0.225–$0.24508 support zone.A breakdown of this zone will start a new downtrend that can drag the price to $0.19. Current trends show bear have upper hand.We might propose a long position if the price sustains above $ 0.26.
A breakdown and close below $ 286 which is a huge negative. The first support on the downside is at $166.98 and below it at $105.On the upside, a breakout of $ 300 will be the first indication of a likely change in trend. We will wait for the BCH/USD pair to scale above $360 before suggesting a trade in it.
Disclosure: The author holds no cryptocurrency at the time of writing.
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