Over the past
few days, there’s a changing price action in the crypto space. You may find
signs of market control by bears, and then, it was the bulls who took over and
pushed the market 2 to 3 % on a sudden. Based on the relative volatility index,
there’s a possible semi-big move in either upside or downside due to signs of
considering the significant gains in market capitalization, the crypto market
successfully started the week with a positive position. Following the first
sell-off in Bitcoin (BTC) and other cryptos caused by the coronavirus outbreak,
the markets were rising and stabilized once more. In fact, the total crypto
market cap has reached $243 billion from $227 billion, showing that a lot of
traders are buying cryptos.
analysts, in the case the coronavirus scare gets contained, then the markets
can possibly give up a few of recent gains and focus on the fundamentals. But,
let’s see first the price action of some cryptos for the January 27 market
20-day EMA bounce off, the bulls are now trying to break the recent highs above
the $0.066261 level. Once successful, XLM could rally towards $0.088708
overhead resistance level. However, if the price of XLM further collapses from
$0.066261, then the XLM/USD pair will stay on the range-bound position in the
next few days.
Overhead Resistance Level
the bulls were able to push the price of ETC above than $10 overhead resistance
level. If they can maintain that price level, then it will result to a fresh
uptrend. Meanwhile, if the altcoin could cross the $12.04 upside’s first level,
then will call for a rally towards $16.60.
BNB’s Is Set
to $18.50 Resistance Level
BNB stays on $16.50 and $18.50 range-bound. The bulls are currently trying to
push the price to $18.50 resistance level. If successful, the crypto will rally
towards $21.80 level. If not, the BNB/USD pair will remain on range-bound in
the next few days.
Over the past
two days, EOS has seen with a sharp bounce off action. This resulted to a $3.47
20-day EMA. With this 20-day EMA along with RSI being on the overbought
position, the bulls remain to be in control over the market. If they become
successful in breaking the above $4.24 overhead resistance, then EOS could
rally towards $4.8719.
Since LTC has
been picking up the momentum over the past two days, the crypto is now
targeting the $66.1486 level. In the case that the bulls fail to break above
that level, then the LTC/USD pair will extend to range-bound in the next days.
Then, the bear can sink the price of LTC under the $50 support area.
to $337.80 Overhead Resistance Level Currently, the bulls try to push the price of
BSV to $337.80 overhead resistance level. Once the bulls break the price above
$337.80 level, it will signal for a re-test to $ 458.74-lifetime highs. If not,
the BSV/USD pair will exte
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