Looking at the H4 chart, the current overall bias for ETHUSD is bullish. Overnight, price experienced increased volatility due to the release of the FOMC news with price closing under the 1st resistance level at 1561.62 where 2 of the 61.8% Fibonacci lines are located. Expecting price to possibly retrace.
Crypto Industry News: MoneyGram International, a global peer-to-peer payment company, announced the launch of a new service that allows US users of the MoneyGram mobile app to buy, sell and store cryptocurrencies. Users can use the MoneyGram app to access Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). The company indicated.
Green lines- Fibonacci retracements In our previous analysis on Ethereum when price was trading above $1,600, we warned traders that price was vulnerable to a pull back. Our first and minimum pull back target was at $1,490, while today’s lows are at $1,503. Ethereum remains vulnerable to a move lower.
Red rectangle- resistance Green rectangle- support XRPUSD is trading around $0.44. Price is under pressure and is vulnerable to a move towards the horizontal support area of $0.42-$0.43. As long as price is above this level, bulls have hopes for another move higher towards $0.54. The $0.42-$0.43 support zone has.
Technical analysis: BTC/USD has been trading downside as I expected and there is still potential for further drop. I found the breakout of the rising channel in the background. Trading recommendation: Due to the breakout of the rising channel in the background, I see potential for further downside movement towards.
Like other currencies, the CAD has moved lower (the USDCAD higher) after the better data today helped to reverse the USD declines seen earlier in the day. The price of the USDCAD has now moved above the 200 bar MA on the 4-hour chart at 1.36326 and into a swing.
Looking at the H4 chart, the current overall bias for ETHUSD is bullish. To add confluence to this, the price is above the Ichimoku cloud which indicates a bullish market. Overnight, price had bearish momentum downwards with the price currently resting on the 1st support level at 1561.62 where 2.
Blue lines- Fibonacci retracement levels Ethereum has most probably completed the rise from $1,191. I believe that the most likely scenario is for price to make at least a pull back towards $1,490 from current levels of $1,618. Short-term support is at $1,563. Price is most probably forming a lower.
Technical analysis: BTC/USD has been trading upside as I expected and there is potential for the further growth towards upside references. Trading recommendation: Due to the breakout of the channel in the background, I see potential for further growth. Watch for the potential buying opportunities on the intraday dips with.
Ethereum edged higher at the time of writing as BTC/USD rallied in the last hours. ETH/USD was trading at 1,622 at the time of writing above 1,563 today’s low and below 1,662 Saturday’s high. Bitcoin’s further growth should force ETH/USD to jump higher as well. ETH/USD is up by 1.19%.
LTC/USD continues to move sideways in the short term trying to attract more bullish energy. As you already know from my analyses, the altcoin could jump toward new highs if the price of Bitcoin resumes its upwards movement. LTC/USD was trading at 55.98 at the time of writing. It has.
Bitcoin slipped lower after failing to make a new higher high but the bias remains bullish in the short term. It was traded at 20,507 at the time of writing. The price action developed a potentially bullish pattern. BTC/USD dropped by 3.03% from Saturday’s high of 21,078 to 20,439 today’s.