Price Analysis, December 26

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.All investment and trade movements carry a risk, you must conduct your own investigation when you make a decision.

Market data is provided by the stock market HitBTC.

The year 2018 has not been profitable for most classes of assets. Tightening of interest rates by the US Federal Reserve, slowing growth, trade wars and fears of a recession have resulted in a sharp fall in several markets.

The leading companies of Cripto, such as Bitmain Technology, based in Beijing, the world's largest producer of cryptocurrency platforms, and the Huobi group, operator of one of the largest crypto-encrypted markets in the world. world, are considering layoffs. While this indicates troubling times for encryption companies, these cycles are an integral part of every industry.

However, only the class of cryptoactive agents has faced imminent death forecasts. Only in 2018, analysts have written the "obituary" of Bitcoin many times. We believe that cryptocurrencies will recover in 2019 and will again attract investors' attention.

However, recovery of crypts will be a slow and gradual process. In contrast to what has happened before, investors are waiting for the possibility of becoming a reality to materialize before raising their prices. As a result, institutional activity, regulations and wider adoption will be among the triggers that will be closely monitored.

In the short term, Anthony Pompliano, founder of Morgan Creek Digital Assets, expects Bitcoin to fall below $ 3,000. But what is the graphic project? discover

BTC / USD

Bitcoin rejected the USD4255 resistance on December 24 and exceeded the 20-day EMA. He is currently trying to stay above support at $ 3,787.33. The price is between 4,255 USD and 3,787.33 USD. An interruption of support will weaken the withdrawal and increase the likelihood of a new test of the minimums.

However, if the price is $ 3,787.33 USD, it will attempt again to reach $ 4,255. If successful, the recovery can be extended to USD 4,914.11 with less resistance in the 50-day ADM.

The 50-day SMA is still down and the RSI has also fallen into negative territory. This shows that the bears are trying to regain control of the BTC / USD pair. If one of the two levels of the current range does not break, we can wait a few more days of consolidation.

If the virtual piece bursts and closes (UTC time interval) above the neck, it is possible that the head and shoulders pattern is reversed. This leak is about $ 5,500.

We can confirm a fund if the current fall forms a lower and the next rebound reaches a higher one. The next few days are critical for the main cryptocurrency.

XRP / USD

Ripple could not stay above the $ 0.40 level. The profit booking pushed the prices below $ 0.40 and the ADM to 50 days.

If the XRP / USD pair bounces back in the 20-day EMA, it will again attempt to reach $ 0.40. If he succeeds, he could climb near the resistance line of the bearish channel. Operators can maintain their long positions with break-even stops.

A break below the EMA at 20 days and 0.33108 USD will weaken the decline and will bring the return of digital currency on the line of support of the chain. The price action of the next 3-4 days will give us a better idea of ​​what we can expect.

ETH / USD

Ethereum rejected close to USD 167.32 on December 24, as we had expected. Currently, the bulls are trying to keep the SMA for 50 days. If successful, we expect another escape attempt of $ 167.32.

On the other hand, if the ETH / USD pair fails to maintain the SMA at 50 days, it can switch to the EMA at 20 days. If the support is maintained, we expect the digital currency to enter into consolidation.

Our neutral, bullish view will be rejected if the bears lower the price below 100 USD. Any break below USD 83 will go down again.

BCH / USD

After a successful career, the short-term traders realized profits in Bitcoin Cash close to 50 days from the SMA. Currently bulls are trying to rebound in the 20-day EMA, but they are not finding buyers at higher levels.

The 20-day EMA is flat and the RSI at around 50. This suggests a likely short-term consolidation. This point of view will prove to be wrong if the bears lower the BCH / USD pair below the 20-day EMA. The next support downstairs is 100 USD.

If speculators rebound in the EMA after 20 days and leave 239 USD, the digital currency will resume its recovery and may reach 262.43 USD and 307.01 USD. If the price drops to $ 239, there will be a consolidation. We will get a better picture in the next 3-4 days. This is why it would be better to closely monitor the evolution of partial positions.

EOS / USD

The recovery of the EOS suffered a major blockage in the SMA of 50 days. Currently, the bulls are trying to maintain the EMA for 20 days. Below this level, the next major support is $ 2,4050.

If one of these supports is maintained, another attempt to break the SMA by 50 days can be expected. However, if the bearers swallow the EOS / USD pair under the brackets, you can try the minimums again.

The 20-day EMA is flat and the RSI is in neutral territory. We therefore expect consolidation over a few days. Our opinion will be invalidated if the digital currency falls below $ 2.

XLM / USD

As the bulls could not stand the break of the 20-day EMA and USD 0.1327050, Stellar fell back under the 20-day EMA.

If the XLM / USD pair does not rise back quickly above the 0.1327050 USD, it can return to the minimum of 15 December. A breakdown of USD 0.0928585498 will resume the downtrend. The digital currency is still a low yielding currency; Therefore, we remain neutral about it. We will wait for the price to remain above the 20-day EMA and that a new purchase configuration be formed before suggesting any operation on it.

LTC / USD

Litecoin was unable to break the overburden resistance to USD 36,428 on December 24, which resulted in a decline. Bulls are trying to maintain their support at $ 29,349. If successful, this could result in an inverted pattern of head and shoulders that will complete a fracture above $ 36,428. The objective of this leak is 49,756 USD.

However, if buyers do not defend $ 29,349, the configuration will be invalidated and the LTC / USD pair could fall back to the recent minimums of $ 23.10. Any violation of the minimums will resume the downtrend. That's why it would be best to wait until the end of the inverted head and shoulders pattern before taking on new positions.

BSV / USD

After not exceeding the upper end of the range of USD 123.98 and USD 80 352 on December 20 and 21, it is likely that Bitcoin SV will fall to the bottom of the range.

If the BSV / USD falls from 80,352 USD, you can upgrade to the next support at 65,031 USD. Any break in this level will result in a decrease of $ 38,528.

However, if support remains at USD 80,352, we expect consolidation to continue for a few more days. We will watch the price action on the support, then suggest new positions.

Contrary to our opinion, if the digital currency changes level and exceeds the limits, it can reach 167,608 USD. Therefore, we maintain our recommendation to buy at prices above 123.98 USD.

TRX / USD

The current retracement stalled just under $ 0.025 on December 24th. TRON finds a support close to the strong support of 0.0183 USD, which is a bullish signal.

Moving averages have completed an upward trend. We expect significant support over the 20 days of EMA. After the recent setback, the TRX / USD pair could consolidate between the 20-day EMA and $ 0.025 for a few days. We will see the price action in USD 0.0183, then we will take a call because we do not find any purchase configuration in the current levels. If the 20-day EMA breaks down, the digital currency will weaken and fall back to USD 0.0125.

ADA / USD

Cardano rejected $ 0.051468 on December 24th. We expected a setback and, as such, we recommended you to make a stop loss nearby.

Currently, the ADA / USD pair finds support in the 20-day EMA, which is a bullish signal. However, if the bulls do not bounce quickly with this medium, they may give way. The next downward support is 0.033065 USD. We hope that one of the two previous supports is valid.

The 20-day EMA is flat, but the 50-day SMA index continues to fall. This implies that the long-term trend continues to be downward, but that the short-term trend suggests consolidation. In the next few days we will have a clearer picture. A break below December 7's low will invalidate our bullish assumption.

Market data is provided by the stock market HitBTC. Charts for analysis are provided by TradingView..