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Ethereum Price Technical Analysis (Oct. 17): Still in the Panic Phase

Posted on October 17, 2019October 17, 2019 by Vinayak Thapar

When looking at the chart below, we can see that Ethereum (ETH)trade is currently trading at $177.8. The price has broken the support of $178, turning it into resistance with new support at $173.43. The price seems to be stuck between the channels, like Bitcoin, with the resistance as the upper limit and support as the lower limit. The price is approaching the resistance so it is suggested not to take long positions at this…

Bitcoin Price Technical Analysis (Oct. 16): Trending Sideways with Negative Sentiment

Posted on October 16, 2019October 16, 2019 by Vinayak Thapar

Analysis When looking at the chart below we see that Bitcoin(BTC)trade is currently trading at $8,014. It is also seen that the price is still trading between the channels, with the upper limit at $8,436 acting as resistance and the lower limit is at $7,927 acting as support. Currently the cryptocurrency’s price is around its support level. Therefore, long positions can be taken around the support level for swing trading, keeping the stop-loss near the…

Bitcoin Price Technical Analysis (October 7): Bullish But Currently Stuck

Posted on October 7, 2019October 7, 2019 by Vinayak Thapar

When looking at the chart below we can see that Bitcoin(BTC)trade is currently trading at $8,168. Although an uptrend is supposedly seen, when looking closely we can recognize that the price is still between the channels and has failed to break the resistance of $8,255. So it is suggested not to take long positions at this price as it is currently around the resistance level. It is expected that the price will be traded between…

Ethereum Price Technical Analysis (September 25): The Bears Prompt the Panic Phase

Posted on September 25, 2019September 25, 2019 by Vinayak Thapar

When looking at the chart below, we can see that Ethereum (ETH)trade is currently trading at $166.67. The ETH price has recently broken the support of $171.25 turning it into resistance with the next support level at $160.75. The second-largest cryptocurrency’s price has fallen 26% which clearly indicates a negative momentum. The price has jumped back up after breaking the support, but the jump looks temporary and the price may again test the support. Dow…

Bitcoin Price Technical Analysis (Sep. 24): Investors Begin Selling their Positions

Posted on September 24, 2019September 24, 2019 by Vinayak Thapar

Bitcoin(BTC)trade is currently trading at $9,714. When looking at the chart below, we can see that the cryptocurrency price has recently broken the support of $9,828, turning it into resistance with a new support level at $9,695. The price has jumped up from the support level, which is a minor early indication of a positive momentum. Dow Theory According to Dow Theory, the Bitcoin price is in the distribution phase, which starts after the public…

Litecoin Price Technical Analysis (September 10): Facing Strong Resistance at $72

Posted on September 10, 2019September 10, 2019 by Vinayak Thapar

Analysis Litecoin (LTC)trade is currently trading at $71.12. The digital coin is facing resistance at $72.09 and support at $69. LTC price is expected is to trade between the channel and long position should not be taken at this price. It is suggested to wait until the price reaches the support, or breaks the resistance. Dow Theory The accumulation phase usually starts when informed investors (experienced traders and institutions) are beginning to enter their positions….

Ethereum Price Technical Analysis: Getting Closer Down to the $170 Support Level

Posted on September 5, 2019September 5, 2019 by Vinayak Thapar

Analysis Ethereum (ETH)trade is currently trading at $172.50. As you can see in the graph below, the ETH price is trading between the channels. The next resistance level is at $182 and support level is at $170. Long positions can be taken around the first support level, keeping the it as a stoploss. The cryptocurrency price is expected to trade between the channels for two cycles, and this can be used for swing trading. Dow…

Bitcoin Price Technical Analysis (September 3): Eyeing $11,000

Posted on September 3, 2019September 5, 2019 by Vinayak Thapar

Analysis Bitcoin(BTC)trade is currently is trading at $10,423. Looking at the chart we see that the price has recently broken the resistance of $10,323. Long position can be taken, keeping $10,323 as support with a target price at $10,700. Swing trading can be done between the channels formed by the resistance and support. Dow Theory According to Dow Theory, the Bitcoin price is in the excess phase, which is an extension to the public participation…

EOS Technical Analysis (August 27): A Bullish Momentum

Posted on August 27, 2019August 27, 2019 by Vinayak Thapar

EOS (EOS)trade is currently trading at $0.28194. Although the cryptocurrency’s price is in a uptrend, when considering the past price’s key points, it can be seen it is currently trading around its resistance. The resistance is also marked by formation of shooting star pattern. The resistance is at $0.2853 and support is at $0.2767. The digital coin’s price is expected to trade between the channel formed by the resistance and support levels until the price…

Ripple Price Technical Analysis (August 19): Still Bullish But Hesitant

Posted on August 19, 2019August 19, 2019 by Vinayak Thapar

Ripple (XRP)trade is currently trading at $0.2840. Recently, the digital coin’s price has broken the resistance of $0.28, turning it into support. The next resistance levl is at $0.2921. The XRP price might start moving between the channels and the above levels can be used for swing trading. Dow Theory According to Dow Theory, the virtual coin is currently appearing in the accumulation phase, which is an area from where the price shoots up, and…

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