Cryptocurrencies have reacted in recent days. Facing the global crisis, cryptocurrencies have proved effective in recovering their value. Check out what TradingView analysts think
Bitcoin / US Dollar PriceBitcoin lost its weekly uptrend, but remains briefly bullish with correction / retest bias. I see a retest test on the resistance in 6900, price below the LTA. It is the price of the moment and with selling energy descending by the CCI. To be more optimistic, there is a margin for Bitcoinsubir more, being able to test again 9000 dollars, performing a retest in the LTA, well in the intersection with the LTB in blue. This retest is important and keeps the price below the weekly resistance. For the bearish movement, it is possible to set goals for the bearish movement, both with similar results, at around US $ 3400. Recalling that in the middle of the way we have 4150 as support, which is already a cheap price. Be careful when buying under $ 10,000.
Ripple / US Dollar
The Ripple stabilizes on the green, technically prepared for a rise above $ 0.1600. A break above the triangle's resistance could catapult XRP / USD to invest against the obstacle at $ 0.1750 and $ 0.2000.
Ripple price bulls are inclined to keep the accumulated gains on Tuesday by ignoring the general bearish wave. Other major cryptocurrencies like Bitcoin and Ethereum are struggling to stay above their opening values at $ 6,496 and $ 136 respectively. On the other hand, the XRP / USD rose 7.39% on the day after extending the bullish leg from $ 0.1477 (opening value) to $ 0.1591 (market value). The intraday high of $ 0.1622 is the second resistance level above $ 0.1600.
The immediate devaluation of the XRP / USD is protected by the Simple Moving Average of 50 (SMA) in the interval of 4 hours. An upward trend line is also in line to support above $ 0.1400 and the next support target at $ 0.1200 and $ 0.1000.
According to the Relative Strength Index, the price of Ripple should be based on a side trading action between $ 0.1500 and $ 0.1600. Continuous upward movement is only possible if gains are sustained above $ 0.1622. In addition, a break above the resistance of the upside triangle would give bulls a boost towards the psychological $ 0.2000.
Monero / US Dollar XMR within a PhiCube consolidation given by SUP 144 at $ 39.46 and RES 34 at $ 56.79; with decision point on the red line PC 305. We will continue to monitor the decision making and the relative behavior of PhiCube fractals.
Disclaimer: The analyzes presented here are only studies. They are not investment recommendations, neither buying nor selling, nor do they reflect the opinion of the media outlet in which they are being publicized. These are studies aimed at people with knowledge and experience in the financial market.
Gabriel Fauth – Speculator of international markets. Follow TradingView on YouTube.
CoinGape – International news site from the world of cryptocurrencies. Check it out here. Follow your analysis on TradingView
Caveira PhiCube – 100% analyst and cryptocurrencies and uses the PhiCube methodology for its operations. Follow your analysis on TradingView.