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Crypto Conjecture For January 11, 2019

Bitcoin Price Analysis [BTC]

Daily Chart:

BTC price analysis for Jan 11

Yesterday, January 10, the price of Bitcoin was in the bullish trend zone. The BTC price fell yesterday because the price of Bitcoin failed to break the $4,200 price level. In addition, the bears broke below the 12-day EMA, the 26-day EMA and the crypto is now in the bearish trend zone. The crypto is likely to fall again because the price is below the 12-day EMA and the 26-day EMA. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the stochastic indicator is in the oversold region below the 20% range which indicates that the price of Bitcoin is in a strong bearish momentum and a sell signal.
On the 1-hour chart, the price of Bitcoin is in a bearish trend zone. The price fall was in two stages: in the first stage, the bears broke the 12-day EMA and the 26-day EMA to the low of $3,900 price level. In the second stage, the crypto fell to the $3,700 price level. The crypto is now in a range bound movement above the $3,700 price level. The crypto is likely to fall because the price is below the EMAs. Also, the stochastic is below the 20% region which indicates that the BTC price is in a bullish momentum and a buy signal.
BTC/USD Medium-term Trend: Bearish Resistance Levels: $4,010, $4,440, $5.020 Support levels: $3,600, $3,450, $3,200

Ethereum Price Analysis [ETH]

Daily Chart:
Yesterday, we saw solid support near the $144-146 zone for ETH price against the US Dollar. The ETH/USD pair recently failed to break the $150-151 zone and a bearish trend line.

ETH price analysis for Jan 11

It resulted in a sharp bearish reaction and the price declined below the $146 and $144 supports. Sellers gained control and pushed the price below the $130 level. There was even a close below the $130 level and the 100 hourly simple moving average. A low was formed near $122 and later the price started consolidating losses.
Initial resistance is the 23.6% Fib retracement level of the recent drop from the $151 high to $122 swing low.
Moreover, there is also a short term bearish trend line formed with resistance at $128 on the hourly chart of ETH/USD. If there is a break above the trend line and $128, the price may recover further. The next key resistance is near the $126 level. The stated level represents the 50% Fib retracement level of the recent drop from the $151 high to $122 swing low. A proper close above the $136 level is needed for a decent recovery in the near term.
Looking at this chart, ETH price clearly made a sharp U-turn below the $146 support. As long as the price is below $136, there is a risk of more losses. A break below $122 and $121 may push the price towards $110

Ripple Price Analysis [XRP]

Daily Chart:

XRP price analysis for Jan 11

Recently, we saw an upside break above $0.3600 and $0.3700 in ripple price against the US Dollar. The XRP/USD pair even broke the $0.3800 resistance and traded as high as $0.3819. Later, there was a solid increase in selling interest, resulting in a significant decline below $0.3500. The price traded below the $0.3460 support and the $0.3300 pivot level.
Moreover, there was a close below the $0.3350 level and the 100 hourly simple moving average. A low was formed near $0.3165 and later the price corrected higher. It moved above the $0.3250 level, but upsides remain capped. Initial resistance is the 23.6% Fib retracement level of the recent decline from the $0.3819 high to $0.3165 low. Moreover, there is a short term connecting the bearish trend line formed with resistance at $0.3300 on the hourly chart of the XRP/USD pair. If there is a break above the trend line and $0.3320, the price may recover further. The next major hurdle for buyers is seen near the $0.3480-0.3500 zone. It also represents the 50% Fib retracement level of the recent decline from the $0.3819 high to $0.3165 low.
Looking at this chart, ripple price is clearly at risk of more losses below $0.3200. Sellers are likely to push the price below the $0.3165 low as well. The next immediate support is at $0.3100 and $0.3050.

Litecoin Price Analysis [LTC]

Daily Chart:
LTC/USD Medium-term Trend: Bearish Resistance Levels: $66, $68, $70 Support Levels: $30, $28, $26

LTC price analysis for Jan 11

Yesterday, January 10, the price of Litecoin was in a bullish trend. The price of Litecoin had been hovering above the 12-day EMA and the 26-day EMA because of its inability to break above the $40 price level. It was earlier assumed that if the bears broke below the EMAs the crypto will find support at $32. Today the crypto has fallen to the $34 price level and the crypto is likely to fall again because the price is in the bearish trend zone. Meanwhile, the stochastic is in the oversold region but below the 20% range indicating that the price of Litecoin is in a strong bearish momentum and a sell signal. The MACD line and the signal line are below the zero line which indicates a sell signal.
On the 1-hour chart, the price of Litecoin is in a bearish trend zone. From the chart, the crypto’s price fell to the low of $33 price level and commenced a range bound movement above it. Meanwhile, the stochastic is out of the overbought region but above the 20 % range which indicates that the crypto is in bullish momentum and a buy signal. The MACD line and the signal line are below the zero line which indicates a sell signal.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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OWLT Market Media Desk publishes press releases from individuals and companies related to the cryptocurrency-related market.

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