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Ethereum (ETH), Binance Coin (BNB) and EOS Crypto Analysis And Forecast

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ETH/USD

ETH

A bullish outlook is seen in the last 24hrs, this is confirmed by the moving averages which are moving side by side in an upward direction. The 7-day MA is seen above the 21day MA indicating bullish momentum. ETH/USD pairs started trading $231.55 (A). This was followed by a period of consolidation resulting in price rally moving in a sideways manner A to B.

The RSI is seen above 70 around X, V and Z indicating overbought market at those periods of time. Later on, the bulls manage to push the price a bit up to close at $239.28 (B) which was followed by a period of consolidation once again indicating luck of price momentum due to indecision in the market.

A three inside up Candlestick pattern appeared later on showing that the bulls rally and overtake the bears and pushed the price further up at (C) to close at $264.13. This placed resistance level at $268.09 and support level at $251.65. Resistance level was breached while the support level was tested severally. ETH is currently trading at $262.42; this shows that the price of ETH has increased thus increase sellouts is observed over the last 24hrs.

FORECAST

The 7-day MA is seen to have bent down during the last few hours this might indicate that the trend is coming to an end. The RSI is seen below 70 during the last few hours thus confirming a downtrend in the next few hours. New support should be set at around $254.50.

EOS/USD

EOS

EOS/USD pair started the day trading at $6.0808 (A). Luck of market momentum is seen from A to B, but the bulls are seemed to be on the upper hand.

The RSI is seen above 70 at X indicating that the asset was overbought at that period of time. Later on, at (B) buyers drove the price further up to a high of $8.2000 but they

encounter selling pressure that drove the price back down, for the period to close near to where they open (C).

Resistance level (R) is placed at $6.7344 and support level (S) is placed at $6.5256, resistance and support level was breached and tested severally. This was followed by a bearish rally where traders pushed the price further down to close at $6.2400 thus, the current price.

FORECAST

The 21-day MA is seen to be crossing over the 7 day MA during the last hour, this indicates a bearish signal. The RSI is heading north at (Z) showing that a downtrend is likely to continue in the next few hours. New target should be placed at $6.0808 and stop-loss may be put into place slightly below or above the target before a breakout or a breakdown occurs.

BNB/USD

BNB

A bullish outlook is seen in the last 24hrs, the bulls are seemed to be up on their game. The day began with a bearish price rally where BNB started trading at $25.19190. The bulls, later on, managed to push the price up to close at $27.09166; this was signaled by the RSI (V) which was seen above 70 indicating an overbought market.

At that period of time indecision in the market was encountered for about 4hrs thus placed resistance level (R) at $26.96501. Traders later pushed the price down, placing support level (S) at $26.24737.

Resistance and support level was also tested and breached severally. During the last 3hrs the 21-day MA is seen to be above the 7 day MA indicating a bearish signal, this was followed by sellers pushing the price rally further down past support to a low of $25.17782. BNB is currently trading at $25.59308, this shows an increase in price thus increase sellouts.

FORECAST

The presence of a reversal pattern during the last hour signals bullish momentum. The RSI is also heading north, indicating an upward price rally in the next few hours. New target should be placed at $25.29040 while stop-loss should be set above support in case of a breakout.

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Cryptocurrencies price prediction: Bitcoin, Ripple & Bitcoin Cash – European Wrap – 23 January

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Bitcoin Price Prediction: BTC/USD in lock-step trading as $9,000 becomes a mirage – Confluence Detector

The market is deep in the red, starting with Bitcoin’s 1.92% loss on the day. Altcoins are also trimming the gains accrued from last weekend led by Ethereum Classic’s 5.42% dive, IOTA’s 5.39% decline and Bitcoin Golds 4.67% loss.

XRP transactions cannot be blocked, Ripple’s CTO explains why

Ripple’s XRP, now the third-largest digital asset with the current market value of $10.0 billion has

lost 3% in recent 24 hours. The coin bottomed at $0.2280 during early Asian hours and recovered to $0.2300 by the time of writing. The coin has been moving in sync with the global cryptocurrency market, driven by strong bearish sentiments amid growing volatility.


Bitcoin Cash miners told to donate 12.5% of their revenues to support the ecosystem

Bitcoin Cash, the fourth largest digital asset with the current market value of $6.1 billion has lost 2.5% in the recent 24 hours amid global correction on the cryptocurrency market. At the time of writing, BCH/USD is changing hands at $335, off the recent high registered at $404.

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Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin – European Wrap – 22 January

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Bitcoin Price Prediction: BTC/USD technicals align for another assault at $9,200 – Confluence Detector

Following an incredible week of bullish performance that saw Bitcoin correct upwards from $7,700 to $9,200, consolidation is setting in as traders get ready for another attack on $9,200. The recovery, not unique to Bitcoin, pushed most altcoins significantly upwards. Some like Bitcoin Cash, Bitcoin SV, Dash and Ethereum Classic, corrected above key descending trendline resistances. The growth among the altcoins has led to a decrease in Bitcoin’s dominance in the market.

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Ethereum Price Analysis: ETH/USD moves within short-term upside channel

Ethereum, the second-largest digital asset with the current market value of $18.5 billion, bottomed out at $161.11 on January 20 and has been gaining ground ever since. The coin has gained over 1% on a day-to-day basis and stayed mostly unchanged since the beginning of Wednesday. ETH/USD attempted a rise above $171.00, but the move proved to be unsustainable and the coin slipped back below $170.00 level.

Litecoin price analysis: LTC/USD bulls desperate to push the price above $60.00
Litecoin, the 7th largest digital coin with the current market value of $3.6 billion, hit the intraday high at $59.14 and retreated below $58.00 by the time of writing, LTC/USD is changing hands at $57.95, mostly unchanged both on a day-to-day basis and since the beginning of Wednesday.
The coin has been range-bound with bullish bias since it hit $55.34 on January 19.  Litecoin’s price movements are affected mostly by speculative sentiments and technical factors.
 

 

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Cryptocurrencies Mildly Positive to hit resistance levels

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In the last 24 hours, cryptocurrencies were drifting, and trading was thin. After a failed attempt to dump the sector at 18:30, buyers came in and aborted it, driving the price of Bitcoin (+1.35%)  300 points up. Ethereum Classic (+8%) and Bitcoin SV (+7.6%) continue leading the advances, followed by Binance coin (+5.47%). In the Ethereum Token section, HEDG (+4.3%) continues its advances. SNX(+6.8%), OMG(+6.67%), THETA (+7.14%)  NEXO(+6.3%) are among the best top performers. Whereas, GNT(+24%), LPT (+37.7%) and WPR(+74%) lead the advances.

24-hour Crypto Heat Map

The market capitalization of the sector went up 1.3%, to $243.337 billion. That was accomplished on a traded volume of $29.566 billion (-14.15%).  The dominance of Bitcoin descended slightly and is currently 65.63%.

24H Crypto Market Cap and Traded Volume

Hot News

US congress is going to discuss a bill that will make it easier for people to pay using bitcoin. The proposal called the Virtual Currency Fairness Act of 2020, which was introduced on Thursday proposes a tax exemption on transactions under $600.

Bitfinex has added a feature on its trading platform, which allows creating up to 100 linked accounts to one master account. That feature was demanded by institutional traders. It can also be used to deploy multiple strategies. “A trading fund can divide trading accounts between different traders, and reconcile profit and loss across each trading account” (source: The Block).

Investment firms Goldman Sachs and Blackrock are in talks with major China banks backing blockchain technology: According to a report published by dailyhodl.com Goldman Sachs is seeking to acquire 51% stake in a joint venture with Industrial Commercial Bank of China (ICBC), whereas Blackrock is in negotiations with Singapore Temasek Holdings Pte. to create a joint wealth management

firm with state-owned China Construction Bank.

Technical Analysis – Bitcoin

Bitcoin 4H

Bitcoin is suffering from heavy selling pressure near $8,000. After the large upward candle made yesterday, the asset tried to break the $8,000 barrier, but, so far, the price has been rejected. On the technical side, we see the MACD has made a bullish crossover, and the price is slightly above the mean-line of the Bollinger bands, and touching its 50-period SMA.  The close above $8.8K is vital for the buyers who seek BTC to climb to the 9k area. The outlook is still bullish, but a failure to break above $8800 would create more downward pressure.

SupportPivot PointResistance
8,5608,670 8,760
8,3808,860
8,2009,000

Litecoin

Litecoin 4H

Litecoin is behaving slightly more positive than the rest discussed here. The price managed to make a close above $53.3 and is trying to move forward to test its $60 key level. The price is moving near the +1SD line, and the MACD is also bullish. Thus, if the rest of the sector holds, we see LTC seeking to test the highs made on Jan 17.

SupportPivot PointResistance
55.957.1 58.6
53.960
51.562.5

Litecoin

Litecoin 4H

Litecoin is behaving slightly more positive than the rest discussed here. The price managed to make a close above $53.3 and is trying to move forward to test its $60 key level. The price is moving near the +1SD line, and the MACD is also bullish. Thus, if the rest of the sector holds, we see LTC seeking to test the highs made on Jan 17.

SupportPivot PointResistance
55.957.1 58.6
53.960
51.562.5

LItecoin

Litecoin 4H

Litecoin is behaving slightly more positive than the rest discussed here. The price managed to make a close above $53.3 and is trying to move forward to test its $60 key level. The price is moving near the +1SD line, and the MACD is also bullish. Thus, if the rest of the sector holds, we see LTC seeking to test the highs made on Jan 17.


SupportPivot PointResistance
55.957.1 58.6
53.960
51.562.5

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