stellar

Feb 22 2021

Price analysis 2/22: BTC, ETH, BNB, DOT, ADA, XRP, LTC, LINK, BCH, XLM

Every uptrend witnesses periodic bouts of profit-booking as short-term traders tend to unwind positions either on adverse news or at critical technical resistance levels. This occurred with Bitcoin (BTC) today as the price momentarily dropped below $48,000 and traders scrambled to close or top up positions before being liquidated.

Elon Musk’s tweet on Feb. 20 that said Bitcoin prices “seem high” and the U.S. Treasury Secretary Janet Yellen’s warning today on Bitcoin being “extremely inefficient” could have dampened short-term sentiment.

*Daily cryptocurrency market performance. Source:* *Coin360*

Another possible factor that may have exacerbated the fall could have been the unwinding of excessively leveraged long positions. About $1.64 billion worth of Bitcoin futures positions were liquidated during today’s sharp pullback.

However, derivatives data for Bitcoin futures do not show any negative development, as highlighted by Cointelegraph Markets analyst Marcel Pechman.

Let’s analyze the charts of the top-10 cryptocurrencies to spot the critical levels on the upside and the key support levels on the downside.

BTC/USD

Bitcoin broke above the resistance line of the ascending channel on Feb. 19, but could not pick up momentum. This showed that the current uptrend was tiring out. Traders aggressively booked profits today, which pulled the price down to the 20-day exponential moving average ($48,081).

However, the lower levels continue to attract buyers as seen from the long tail on the daily candlestick. If the price sustains above the midpoint of the channel, the bulls will again try to push the pair above the channel.

If they manage to do that, the BTC/USD pair could resume the uptrend. The next target on the upside is $60,974.43 and then $66,000. The upsloping moving averages and the relative strength index (RSI) in the positive territory suggest that bulls are in control.

Contrary to this assumption, if the price sustains below the midpoint of the channel, the bears will again try to break the 20-day EMA support. If they manage to do that, the pair may drop to the 50-day simple moving average ($39,885).

ETH/USD

Ether (ETH) turned down from the resistance line of the ascending channel on Feb. 20, indicating that traders booked profits after the price reached the psychologically important level at $2,000.

The selling continued today and the ETH/USD pair dropped to the support line of the ascending channel. However, the positive sign is that the bulls purchased the dip as seen from the long tail on the day’s candlestick.

If the buyers can push and sustain the price above the 20-day EMA ($1,753), the positive momentum may remain intact.

On the contrary, if the price sustains below the 20-day EMA, the bears will try to sink the pair below the channel and the 50-day SMA ($1,465). If they succeed, the correction could deepen to $1,200 and then to $1,000.

BNB/USD

Binance Coin (BNB) has been witnessing volatile moves in the past few days. After the sharp rally on Feb. 19, traders aggressively booked profits on Feb. 20. The bulls tried to resume the uptrend on Feb. 21, but the higher levels have again attracted profit-booking.

The bulls are currently attempting to defend the zone between the 50% Fibonacci retracement level at $233.3485 and the 61.8% retracement level at $206.1262. If they succeed, the BNB/USD pair may continue the volatile range-bound action for a few more days.

On the contrary, if the bears sink the price below $206.1262, the decline could extend to the 20-day EMA ($168). This is an important support to keep an eye on because a break below it will suggest a trend change and a likely fall to $118.

DOT/USD

Polkadot (DOT) broke above the ascending channel on Feb. 19 and rose to a new all-time high at $42.2848 on Feb. 20. However, the long wick on the day’s candlestick showed profit-booking at higher levels.

After forming an inside day candlestick pattern on Feb. 21, the DOT/USD pair slumped back into the channel today. However, the bulls bought the dips and have pushed the price back above the channel.

The buyers will now try to push the price above $42.2848 and resume the uptrend. On the other hand, the bears will try to sink the pair back into the channel. If they succeed, the pair may drop to the 20-day EMA ($28.89).

ADA/USD

Cardano (ADA) surged above the $0.9817712 overhead resistance on Feb. 20 and reached $1.1980811. However, the long wick on the daily candlestick showed profit-booking at higher levels.

The selling intensified today and that pulled the ADA/USD pair down to the 20-day EMA ($0.834). However, the long tail on today’s candlestick shows aggressive buying at lower levels.

If the price sustains above $1, the bulls will try to resume the up-move. A breakout of $1.1980811 could open the doors for a rally to $1.25 and then $1.50.

Conversely, if the price slips below $0.9817712, the pair may again drop to the 20-day EMA. This is an important support to watch out for because if it cracks, the correction may deepen to $0.6879684.

XRP/USD

XRP continues to trade inside the $0.50 to $0.65 range. The altcoin bucked the trend today and rallied while most other major cryptocurrencies were witnessing sharp selling.

The price had rallied to $0.65155 today but the bulls could not sustain the higher levels. This shows the bears have not yet thrown in the towel.

However, the upsloping 20-day EMA ($0.50) and the RSI in the positive territory suggest the path of least resistance is to the upside. If the bulls can propel and sustain the price above $0.65, the rally may extend to $0.78608.

This positive view will invalidate if the price turns down from the current levels and breaks below the $0.50 support. If that happens, the XRP/USD pair may drop to $0.3855.

LTC/USD

The bulls could not sustain Litecoin (LTC) above the $240 overhead resistance from Feb. 17 to Feb. 21. This failure to resume the uptrend could have attracted profit-booking from short-term traders, which resulted in a sharp fall today.

The LTC/USD pair broke below the 20-day EMA ($198) and the $185.5821 support today, but the long tail on the day’s candlestick shows the bulls purchased this dip. The flattening 20-day EMA and the RSI just above the midpoint, suggest a balance between supply and demand.

If the price sustains above the 20-day EMA, the bulls will again try to resume the uptrend. On the contrary, if the price again slips below the 20-day EMA, the pair may drop to the 50-day SMA ($165). A break below this support could pull the pair down to $120.

LINK/USD

Chainlink (LINK) turned down from the resistance line of the ascending channel on Feb. 20 and formed a Doji candlestick pattern on Feb. 21. The uncertainty of the Doji candlestick was resolved to the downside today.

The LINK/USD pair plunged below the 20-day EMA ($30) and the support line of the channel today. However, the long tail on the candlestick shows aggressive buying by the bulls at lower levels.

If the bulls can sustain the price inside the channel, it will suggest that the uptrend remains intact. On the contrary, if the price again breaks below the channel, it will indicate a possible trend change.

The next critical support on the downside is the 50-day SMA ($23.82) and if this support also cracks, the decline may extend to $20.1111.

BCH/USD

The range-bound action in Bitcoin Cash (BCH) resolved to the downside today when the price dipped below the $670 support. This breakdown showed that the equilibrium had tilted in favor of the bears.

The BCH/USD pair broke below the 20-day EMA ($610) and fell to an intraday low at $533.33 today. However, the bulls aggressively purchased the dip below the $539 support, resulting in a sharp rebound.

If the price sustains above the 20-day EMA, the bulls will again try to push the price back into the $670 to $745.39 range. If they succeed, it will suggest that the current correction could be over.

On the contrary, if the price sustains below the 20-day EMA, the pair may again drop to $539 and then to the 50-day SMA ($510).

XLM/USD

Stellar Lumens (XLM) failed to resume its uptrend in the past few days, which showed a lack of demand at higher levels. This could have attracted profit-booking from short-term traders who may have dumped their positions today.

The XLM/USD pair broke below the 20-day EMA ($0.44) and the $0.409 support today, but the bulls purchased at lower levels. The flattish 20-day EMA and the RSI below 58 suggest the bullish momentum may be weakening.

If the bulls fail to sustain the price above the 20-day EMA, the bears will again try to sink the price below $0.409. If they manage to do that, the pair could slide to the $0.35 support.

On the other hand, if the price sustains above the 20-day EMA, the bulls will again try to resume the uptrend. A break above $0.535 will suggest an advantage to the bulls and may result in a retest of $0.600681.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Price analysis 2/22: BTC, ETH, BNB, DOT, ADA, XRP, LTC, LINK, BCH, XLM

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Jan 29 2021

January 2021: Top Campaigns

January 2021 was one of the hottest Januarys on record, literally and figuratively, so it’s no surprise that our latest batch of top campaigns is cooked and ready to chew on a few days early. Our top earners for January reflect a world back on lockdown and raring for this wild ride to be over: a compact gaming console takes the top spot; a unique camera lens gives photography enthusiasts something to focus on; and a pandemic-friendly pair of glasses block the glare while helping to block the virus.

Here are Indiegogo’s top campaigns for January 2021:

1. GPD WIN3 Gaming Console

$2,362,893 USD raised
2,535 backers
Shenzhen, China

What do you get when you pack gaming laptop firepower into a handheld gaming console? The GPD WIN3, of course, and its “candy bar” design has produced some stellar results on Indiegogo in January.

The GPD WIN3 is the latest development in GPD’s successful line of handheld gaming consoles, known for its top-level processors, ergonomic gamepads, and lightning-fast performance.

Gaming’s not your thing? Just plug the GPD WIN3 into a standard monitor, run PowerPoint, Excel, or Chrome, and get to work. This handful of computing power packs quite the punch.

GPD’s latest iteration, the WIN3, has raised over $2 million in the last few weeks and shows no signs of slowing down.

2. SIRUI 24mm Anamorphic Lens

$1,601,7673 USD raised
1,847 backers
Verona, New Jersey

A typical anamorphic lens costs several thousand dollars, and some even reach into five-figure territory. SIRUI is changing that with the market’s first compact, affordable 24mm anamorphic lens.

For those unfamiliar with anamorphic lenses, these unique pieces of equpiment provide wide, cinematic shots and dramatic lens flares by squeezing the image by 1.33x then unsqueezing it during post-production. SIRUI already revolutionized the market with their 50mm and 35mm anamorphic lenses in 2020, and SIRUI’s new 24mm anamorphic lens packs similar specs into an even more compact unit.

The SIRUI 24mm lens has already raised $1.6 million, and it’s poised to truly transform the anamorphic photography and cinematography game.

3. ElecHive Portable & Universal Super Power Station

$2,349,223 USD raised
2,077 backers
San Diego, California

Gas generators are expensive, loud, and bad for the environment. Electric power stations, on the other hand, not so much. The ElecHive Portable Power Station is leading the charge in the electric power station world, and thanks to its patented Pure Sine Wave technology, the ElecHive puts out 2,200W of continuous power — enough to power a mitre saw for two hours, an A/C unit for 12 hours, or a Dometic fridge for up to 2 weeks. The best part? All this heavy-duty power packs into a box slightly larger than a basketball. With those kinds of specs, we think it’s a slam dunk.

4. BeYou Chair

$2,389,298 USD raised
6,462 backers
New Castle, Delaware

The pandemic, perhaps more than anything, has meant a whole lot of sitting around. But what if you found out you were doing it wrong?

Your posture in a conventional chair is severely restricted, typically limited to a slight change in height and maybe some swivel action. The team at BeYou, however, have designed a chair that makes it easy to let your body, not the chair, determine how you sit, so you can finally relax comfortably in nearly any position.

With the BeYou, all you have to do is listen to your body. Simply adjust and in only a few seconds, the possibilities are endless. Sit as you would in a normal chair, rotate the back to create laptop rest, or even fold the wings to create a de facto chaise lounge for a quick nap.

With BeYou, you can enjoy the benefits of movement even when you’re sitting.

5. Stoggles Eyewear

$2,789,387 USD raised
56,595 backers
Los Angeles, California

We spend so much energy worrying about our masks, but what about our eyes? True, most infections spread via the nose and mouth, but the eye can also act as a back door to bacterial and viral infections, especially when you’re in the habit of touching your face.

Stoggles offer similar eye protection to full goggles but with style. They’re a new kind of eyewear designed to protect your eyes from dirty fingers and airborne droplets. Boasting a protective blue light filter for long days in front of the computer and an anti-fog coating for compatibility with masks, Stoggles are easy to wear wherever you go. They’re also Rx-friendly, so you can put your corrective lenses in the frames if your vision isn’t quite 20/20.

The Stoggles campaign has raised nearly $3 million, so keep your eyes peeled for this one-of-a-kind campaign!

_______

Interested in exploring more campaigns? Check out our team favorites.

Rankings, amount raised, and other stats are current as of 01/29/21.

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Jan 26 2021

Social trading platform eToro ended 2020 with $600M in revenue

Exchange platform eToro is coming off a stellar year of growth, as novice traders seek new pathways into the financial markets, including cryptocurrency.

The online brokerage firm ended 2020 with gross revenue of $600 million, with total trading volume surging 40% to $1.5 trillion.

Describing his firm as a technology company and multi-regulated broker, CEO Yoni Assia said:

“The last few years have seen a rapid growth in eToro’s headcount reflecting both our global expansion and the growth of our product offering and client base.”

eToro has operated a successful social trading platform for a number of years, allowing novice traders to access forex, commodity and equity markets. In 2019, the platform expanded into digital assets by launching a crypto exchange and eight branded stablecoins.

The introduction of digital asset services is partly responsible for eToro’s rapid growth over the past year. Earlier this month, the exchange warned users that crypto trading may become limited because of “unprecedented demand.”

The warning came on the heels of Bitcoin (BTC) smashing new all-time highs near $42,000 and the broader cryptocurrency market hitting a $1 trillion valuation for the first time.

Assia said 2020 was a “big year for stocks,” but that 2021 has so far been “dominated by crypto headlines.” He claims crypto trading volumes at his firm are up more than 25 times compared with the same period last year.

eToroX, the company’s digital asset platform, reportedly generated $670 million in volume on Tuesday, according to CoinMarketCap. That puts it in the top 20 largest exchanges by volume.

According to Finance Magnates, eToro’s secondary market valuation has surged to over $2.5 billion, having more than tripled since 2018.

Social trading platform eToro ended 2020 with $600M in revenue

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Jan 20 2021

Price analysis 1/20: BTC, ETH, DOT, XRP, ADA, LTC, BCH, LINK, XLM, BNB

When an asset is in an overbought condition and traders are sitting on large profits, even minor negative news and events could trigger profit-booking. This seems to have happened following Janet Yellen’s adverse comments on cryptocurrencies during a virtual hearing with the U.S. Senate Finance Committee.

In the same meeting, Yellen also told Congress to “act big” in order to support the U.S. economy. Another round of stimulus would probably further weaken the U.S. dollar and drive investors into assets that are considered as a store of value. This means Yellen’s comments may have inadvertently boosted the sentiment surrounding gold and Bitcoin (BTC).

As the fundamental factors supporting the current bull run are still intact, the institutional investors who had missed out on the rally at lower levels may use the current dip to build positions.

Glassnode data shows that large investors have been aggressively adding Bitcoin to their portfolios and the number of wallets holding over 1,000 Bitcoin has risen to a new all-time high. Since the start of 2021, 164 new wallets with over 1,000 Bitcoin have been created, indicating that whales are bullish despite the current BTC price correction.

Let’s study the charts of the top-10 cryptocurrencies to spot the critical support levels where buyers may start cherry-picking.

BTC/USD

Bitcoin has broken below the symmetrical triangle pattern but the bulls are currently attempting to defend the 20-day exponential moving average ($34,626). In an uptrend, traders buy the dip to the 20-day EMA as it offers a low-risk entry opportunity and a bounce off it reiterates the strength in the trend.

The 20-day EMA is flattening out and the relative strength index (RSI) has gradually dropped from the deeply overbought territory to the midpoint, which suggests a balance between supply and demand.

If the BTC/USD pair sustains below the 20-day EMA, it could drop to the 38.2% Fibonacci retracement level at $29,688.10. The bulls are likely to defend this support aggressively. If they succeed, this level may act as the support of the range while $40,000 could act as the resistance.

The positive view could be negated if the bears sink the price below the 50-day simple moving average ($27,596). Such a move could open the possibility of a fall to the 61.8% Fibonacci retracement level at $22,106.73.

ETH/USD

Ether (ETH) rallied to a new all-time high on Jan. 19, indicating that the bulls are in command. The upsloping moving averages and the RSI near the overbought territory suggest the path of least resistance is to the upside.

Usually, after every breakout from a resistance, the price returns to retest the level. The same has happened in the ETH/USD pair where the bulls are trying to flip $1,300 into support. If they succeed, this level will act as a new floor.

The long tail on today’s candlestick suggests traders are buying on dips below $1,300. If they manage to close the price above $1,300, the pair may attempt to resume the uptrend. If the bulls push the price above $1,438.318, the pair could rally to $1,675.

Contrary to this assumption, if the pair sinks and sustains below $1,300, the next drop is likely to be the 20-day EMA ($1,129). A bounce off this support will suggest the sentiment remains bullish, but if the bears sink the pair below the 20-day EMA a short-term top may be in place.

DOT/USD

After the sharp rally of the past few days, Polkadot (DOT) has entered a minor correction. The altcoin had today dipped to the 38.2% Fibonacci retracement level at $14.7259, which is acting as a strong support.

The long tail on today’s candlestick shows that traders are not waiting for a deeper correction to buy as they anticipate higher levels in the future. If the bulls can push the price above $19.40, the uptrend could resume with the next target objective at $24 and then $30.

Contrary to this assumption, if the bears sink the price below $14.7259, the selling may intensify and the pair could drop to the 50% retracement level at $13.2821 and then to the 20-day EMA ($12.32).

If the pair rebounds off the 20-day EMA, it will suggest the uptrend remains intact but if this support cracks, the decline could extend to $11.8383. The deeper the correction, the longer it is likely to take for the uptrend to resume.

XRP/USD

XRP rose above the 20-day EMA ($0.297) on Jan. 19 but the bulls could not sustain the higher levels, indicating traders are offloading their positions on every minor attempt to rally.

The price action of the past few days has formed a descending triangle pattern. If the bears sink the price below the $0.25 support, the XRP/USD pair could drop to the critical support at $0.169. A break below this level could resume the downtrend with the next target objective at $0.10.

On the other hand, if the bulls defend the $0.25 support and push the price above the downtrend line, the pair may rise to $0.385 and stay range-bound between these two levels for a few more days. A new uptrend could begin on a breakout and close above $0.385.

ADA/USD

Cardano (ADA) has pulled back from the stiff overhead resistance at $0.40, which shows short-term traders may be booking profits. The shallow correction and the long tail on the day’s candlestick show the bulls are attempting to flip the previous resistance at $0.34 into support.

If they succeed, the bulls will make one more attempt to thrust the ADA/USD pair above the $0.40 resistance and resume the uptrend. If they manage to do that, the next stop could be the psychological resistance at $0.50.

The upsloping moving averages suggest the trend remains in favor of the bulls but the negative divergence on the RSI indicates the momentum may be weakening. If the price sustains below $0.34, a drop to the 20-day EMA ($0.30) is likely.

A strong rebound off this support will indicate the uptrend remains intact but a break below it will suggest the possibility of a deeper correction to $0.26.

LTC/USD

The bulls pushed Litecoin (LTC) above the 61.8% Fibonacci retracement level at $157.6904 on Jan. 19 but could not sustain the higher levels due to the bear onslaught, as seen from the long wick on the day’s candlestick.

If the bears can sustain the price below the 20-day EMA ($145), the LTC/USD pair could drop to $130 and then to $120. This is an important support to watch out for because a break below it could signal the bears are back in the game.

The flat 20-day EMA and the RSI close to the midpoint suggests a balance between supply and demand. This could keep the pair range-bound between $130 and $160. On the upside, a breakout and close above $160 may resume the uptrend.

BCH/USD

Bitcoin Cash (BCH) broke above the $539 resistance on Jan. 19, but the long wick on the day’s candlestick suggests the bears had other plans as they sold aggressively, trapping the bulls who may have purchased the breakout.

The BCH/USD pair dipped to the uptrend line but the long tail on today’s candlestick suggests the bulls aggressively defended this support. If the bulls can push the price above $539, a rally to $630 is possible.

On the contrary, if the pair breaks below the uptrend line, it will suggest the bears have overpowered the bulls. This will signal a possible trend change and the pair could then drop to the next critical support at $370.

LINK/USD

Chainlink (LINK) is currently correcting the sharp up-move of the past few days. Aggressive profit-booking by traders had pulled the price below $20.1111, but the long tail on today’s candlestick suggests strong buying at lower levels.

Both upsloping moving averages and the RSI in the positive zone suggest bulls have the upper hand. If the LINK/USD pair rebounds off the current levels, the bulls will try to push the price above $23.767 and resume the uptrend. The next level to watch on the upside is $27 and then $30.

Contrary to this assumption, if the bears sustain the price below $20.1111, the pair may drop to $17.7777, which is just above the 20-day EMA ($17.58). If the pair rebounds off this level and rises above $20.1111, the bulls will try to resume the uptrend.

This positive view will invalidate if the selling breaks the 20-day EMA support. Such a move will indicate the bulls are not buying the dips anymore, signaling a change in sentiment.

XLM/USD

Stellar Lumens (XLM) continues to trade inside the $0.26 to $0.325 range. The bulls tried to push the price above the range on Jan. 19 but failed, which shows the bears are active at higher levels.

The sellers will now try to sink the XLM/USD pair below the support of the range, but they are likely to encounter strong buying from the bulls. The upsloping moving averages and the RSI in the positive zone suggest the bulls are unlikely to give up easily.

A strong rebound off the 20-day EMA ($0.263) could extend the consolidation by a few more days. Contrary to this assumption, if the bears sink the price below the $0.26 support, the selling could intensify and that may pull the pair down to the 50-day SMA ($0.201).

BNB/USD

Binance Coin (BNB) tried to resume the uptrend on Jan. 18 and 19 but the bulls could not sustain the higher levels. Aggressive profit-booking on Jan. 19 started a correction that has reached the 20-day EMA ($40.99).

If the bears can sink and sustain the price below the 20-day EMA, the BNB/USD pair may drop to the support line of the ascending broadening wedge pattern. The bulls will attempt to defend this support and if they succeed, the pair may extend its stay inside the pattern.

Conversely, if the bears sink the price below the support line, it will complete the bearish setup, which has a target objective at $26.7273. But the pair is unlikely to plunge to the target level in a hurry because the bulls could offer strong support at $35.69.

Market data is provided by HitBTC exchange.

Price analysis 1/20: BTC, ETH, DOT, XRP, ADA, LTC, BCH, LINK, XLM, BNB

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Dec 28 2020

Price analysis 12/28: BTC, ETH, XRP, LTC, BCH, DOT, ADA, BNB, LINK, XLM

Several central banks have resorted to unprecedented monetary expansion and aggressive rate cuts to support their respective economies badgered by the coronavirus pandemic. Record liquidity has resulted in sharp rallies in the S&P 500, gold, and Bitcoin (BTC), which suggests that investors are plowing money into assets of their choice.

While gold is way below its all-time high set in August, both the S&P 500 and Bitcoin are near their all-time high.

The last five trading days of the year and the first two of the next year have historically been bullish for the S&P 500, dubbed as the “Santa Rally.” It will be interesting to see whether Bitcoin continues its Santa rally into 2021 with the arrival of institutional investors.

Another interesting thing to note is that Bitcoin has rallied from a low at $10,377.10 in October to a high at $28,419.94 in December, a 173.87% rally in three months. Although the sentiment is bullish and the institutional inflows are accelerating, every bull market witnesses strong corrections and Bitcoin is unlikely to be an exception.

Traders should protect their paper profits and not get carried away with greed because corrections after vertical rallies can be ruthless. Let’s study the charts of the top-10 cryptocurrencies to determine the overhead levels that may act as a strong resistance that can trigger a correction.

BTC/USD

Bitcoin formed a Doji candlestick pattern on Dec. 27 with a long wick, which suggests profit booking above the $27,000 level. The bulls are again struggling to sustain the price above $27,000 today.

If the bears sink the price below $25,819.69, the BTC/USD pair could drop to the immediate support at $24,302.50 and then to the 20-day exponential moving average at $22,951.

A strong bounce off this support will suggest that the uptrend remains intact and the bulls are buying on dips. If that happens, the bulls will attempt to resume the uptrend.

However, if the bears sink the price below the 20-day EMA, it will suggest the formation of a short-term top. The correction could then deepen to the 50-day simple moving average at $19,577.

Contrary to this assumption, if the bulls push and sustain the price above $28,419.94, the pair could rally to $30,000, which is likely to act as a stiff resistance.

ETH/USD

Ether (ETH) rebounded off the 50-day SMA ($566) on Dec. 23, which suggests that the bulls are accumulating on dips. The buyers again pushed the price back above $622.807 on Dec. 25, indicating that the correction could be over.

The ETH/USD pair picked up momentum on Dec. 27 and cleared the $676.325 overhead resistance. This suggests that the uptrend has resumed. The next target objective on the upside is $800.

The upsloping moving averages and the relative strength index (RSI) close to the overbought territory suggest that bulls are in command. This positive view will invalidate if the pair turns down and plummets below the $622.807 support.

XRP/USD

XRP is in a downtrend. The altcoin broke below the critical support at $0.435 on Dec. 23 and this intensified the selling, resulting in a sharp fall to $0.2132.

The downsloping 20-day EMA ($0.426) and the RSI in the negative territory suggest that bears have the upper hand.

When the sentiment is bearish, minor rallies are sold into and that is what happened on Dec. 25. The XRP/USD pair turned down from $0.384998, just above the 38.2% Fibonacci retracement level of the most recent leg of the decline.

However, the bulls are currently trying to keep the pair above the $0.25 support. If they succeed, the pair may remain range-bound between $0.25 and $0.38 for a few more days. The first sign of strength will be a break above the 20-day EMA.

LTC/USD

Litecoin (LTC) broke above a flag pattern and the overhead resistance at $124.1278 on Dec. 25, which indicated the resumption of the uptrend. The breakout of this setup has a target objective of $160.

However, the bears are not willing to throw in the towel as they are currently attempting to stall the up-move at the $140 overhead resistance. If they can sink and sustain the price below 124.1278, a drop to the 20-day EMA ($107) may be on the cards.

On the other hand, if the bulls can defend the $124.1278 level, it will suggest that this level has flipped to support. That could enhance the prospects of a break above the $140 to $145 overhead resistance zone.

The rising moving averages and the RSI near the overbought territory suggest that the path of least resistance is to the upside.

BCH/USD

The bulls are currently trying to propel Bitcoin Cash (BCH) above the $370 overhead resistance. If they succeed, it will be a huge positive because during the previous two attempts, the price had quickly reversed direction from this level.

The upsloping moving averages and the RSI above 64 suggest that bulls are in command. If they can drive the price above $$370 and sustain the breakout, the BCH/USD pair could rise to $409 and then to $430.

On the contrary, if the bears again defend the $370 resistance and the price turns down sharply, it could keep the pair range-bound between $370 and $255 for a few more days.

DOT/USD

Polkadot (DOT) had been trading in a range between $3.53 and $5.60 for the past few weeks. The bulls have pushed the price above the $5.60 to $6.0857 overhead resistance zone today.

If the bulls can sustain the price above $6.0857, it will suggest the start of a new uptrend that could retest $6.8619 and then rally to $7.67. The gradually upsloping moving averages and the RSI above 68 suggest bulls have the upper hand.

The bears are likely to defend the $6.8619 level aggressively but if the bulls do not allow the price to dip below $6, it will suggest that the uptrend remains intact. This bullish view will be invalidated if the DOT/USD pair re-enters $5.60.

ADA/USD

Cardano (ADA) rebounded off the $0.13 support on Dec. 24 and the bulls have been sustaining the price above the 20-day EMA ($0.154) since then. This is a positive sign as it prepares a launchpad to thrust the price above the $0.175 to $0.1826315 overhead resistance zone.

The RSI has risen into positive territory and the 20-day EMA has started to turn up gradually. This suggests that bulls are attempting to gain the upper hand.

If the bulls can push the price above the overhead resistance zone, the ADA/USD pair could resume the uptrend and rally to $0.22 and then to $0.235.

Contrary to this assumption, if the pair again turns down from $0.175, it could extend its stay inside the range for a few more days.

BNB/USD

The bulls are currently attempting to propel Binance Coin (BNB) above the $35.69 overhead resistance. If they succeed, the altcoin could resume the uptrend and rally to the all-time high at $39.5941.

The bears are likely to mount a stiff resistance at the all-time high but the upsloping moving averages and the RSI in the positive territory suggest that bulls have the upper hand.

If the bulls can push the price above $39.5941, the BNB/USD pair could pick up momentum and start its journey towards $50.

This bullish view will be invalidated if the price turns down from the current levels and plummets below the 50-day SMA ($30). Such a move will suggest profit-booking at higher levels.

LINK/USD

Chainlink (LINK) plummeted to $8.05 on Dec. 23 but rebounded strongly from the lower levels as seen from the long tail on the day’s candlestick. The bulls again bought the dips on Dec. 24, indicating strong demand at lower levels.

The failure of the bears to sustain the LINK/USD pair below $11.29 attracted buying from the bulls who pushed the price to $13.2448 on Dec. 27. However, the bears are in no mood to relent as they sold close to $13.28 as seen from the long wick on the candlestick.

Both moving averages have flattened out and the RSI is just below the midpoint, which suggests a balance between supply and demand.

The bulls may gain an upper hand if they push and sustain the price above the downtrend line. Conversely, a break below $10 will suggest advantage to the bears.

XLM/USD

The bulls are currently attempting to sustain Stellar Lumens (XLM) above the $0.14 support. However, any rise from the current levels could face selling at the downsloping 20-day EMA ($0.159) and then at $0.17.

If the price turns down from the overhead resistance, it increases the likelihood of a break below $0.14. The next support on the downside is at $0.11 and then $0.08.

Conversely, if the bulls can push the price above $0.17, the XLM/USD pair may move up to the downtrend line. The sentiment is likely to remain negative as long as the price remains inside the descending triangle pattern.

A break above the downtrend line of the triangle will invalidate the bearish setup and that could result in a rally to $0.231655.

Market data is provided by HitBTC exchange.

Price analysis 12/28: BTC, ETH, XRP, LTC, BCH, DOT, ADA, BNB, LINK, XLM

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