Daily Technical Analysis Of Crypto

[Deya Hroob]

XRP Price Prediction: Ripple remains near main support

XRP is attempting to clear the 20-day EMA. It is the main major resistance right now. If traders succeed to take XRP above the 20-day EMA, it may go up to 50-day SMA, where traders may face stiff resistance. Ripple will take a boost when both moving averages are scaled. Above the moving averages, traders should target $0.45 and $0.50 levels respectively.

However, XRP is trading near the long term support at $0.28. It's the psychological main support, thus, bulls should defend it viciously. A breakdown of this main support will be a negative sign.

RSI is in the middle which shows Ripple is in a consolidation period.
Traders should initiate long positions on a breakout of the moving averages or at the main support at $0.28 with a stop loss just below the main support line.

 

[Deya Hroob]

Bitcoin Climbs Near $12000, Will the Surge Continue?

Daily Chart
Bitcoin has built solid support around $9100, from where it started to skyrocket. After successfully scaled above the moving averages, BTC/USD rallied to the downtrend line, where it may face some resistance.

If Bulls can clear this hurdle, Bitcoin can move up to $12,800, thereafter to the recent high of $13,900.......

Read More

 

[Deya Hroob]

Bitcoin Price Analysis : Bears Take Profits

After the failure of the bulls to penetrate the downtrend line, BTC/USD has fallen hard in the last couple of days. The downtrend line is the best place for the bears to take profits. The pair dipped below the 50-day EMA moving average and the ascending channel which shows the weakness of the bulls in the short term.

Read the whole Analysis

 

[Deya Hroob]

Litecoin Looks More Bearish Than Before

Litecoin plummeted below the support of $76 and is trading under the moving averages. Most importantly, it completed a well-known reversal Head and Shoulders pattern when the price plunged below the neckline. These developments tell us that the worse is still to come.

In this pattern, it's common that price retests the neckline before continuing its course down again. To neglect this pattern, the price must go above the neckline again.

If LTC struggles to break above the neckline, bears will seize the opportunity to push the price lower.

The next support levels are $70 then $60.

To resume the uptrend, the pair should breakout both the neckline and 20-day EMA.

 

[Deya Hroob]

ONT (Ontology) : RSI Shows Bullish Divergence

ONT plummeted under the uptrend line on Aug.15, it acted as strong support before, so it may behave as resistance now. The pair tried unsuccessfully to scale above the uptrend line in the last three days. Additionally, ONT is trading under the moving averages.

However, the only positive thing now is that the bullish divergence on RSI which indicates a potential reversal in price soon. It must be noted that RSI divergence is misleading in some cases. Therefore, we need other bullish confirmation signals before we go bullish on ONT. The price must break up the trend line then scale above the 20-day EMA.

If the trend line shows strong resistance, we may see another dip to $0.69 then to $0.50.

 

[Deya Hroob]

Stellar Price Analysis: Traders Wait For a Positive Movement

Stellar is trading under the moving averages. XLM/USD hasn't been able to break above the 20-day EMA. You can see the chart and notice how 20-day EMA ( black line) forms a strong barrier for XLM to advance. Additionally, the pair has broken down $0.072 support level. Both $0.072 and 20-day EMA are nearly at the same level.

Read the whole story

 

[Deya Hroob]

Ethereum and Ripple Price Indicate Slight Recovery

Ethereum Daily Technical Analysis

The main trend is still up according to the daily chart. The pair is trading above the main uptrend line which is quite positive. Also, on the RSI, there is a bullish divergence that shows a potential reversal in price, but it needs confirmation from other indicators.

On the other hand, the rebound from the main uptrend line is stopped by both 20-day EMA and the trend line 1 as expected in our last analysis.

Ethereum needs to scale above 20-day EMA to resume the uptrend. As long as the main uptrend line holds the price, ETH/USD will be bullish in long term. Conversely, if it breaks down, it may indicate a change in trend and a fall to $150 will be in the cards.

XRP Daily Technical Analysis

XRP broke down the main support on Aug. 13 which is a negative sign. It was the psychological support since Dec. 13. 2018. Additionally, it faces stiff resistance from 20-day EMA. Both 20-day EMA and the previous main support are at the same level now. If the pair sustains below the resistance, it may fall to a $0.24 level.

Traders should initiate long positions only if ripple goes above 20-day EMA. Until then stay in the sideline.

 

[Deya Hroob]

Scaling in Trading Strategy

What's Scaling in?

It's to open multiple units at different price levels to maximize your profits . Simply, when a trader opens a position, he waits until some circumstances happen to add other positions to his current one. It's considered an advanced strategy because it rises your risks if the market goes against you.

In this article, we will discuss three conditions traders should add to their current open positions.

1. Moving Averages

In this approach, we use three different moving averages: 5-day EMA (black line), 20-day EMA (purple line) and 50-day EMA (orange line).

Let's take an example. Below is the ETH/USD daily chart.

Firstly, we opened a short position when 5-day EMA crossed under 20-day EMA. Then a bearish confirmation is confirmed as 20-day EMA broke down 50-day EMA. To add more short positions, we waited for any rebound from both 20 and 50 EMA. The more the price rebounds from the them, the more reliable our trades will be.

We placed our stop loss for fresh positions just above the 50-day EMA and trail the stops for old positions also above the 50-day
in order not to miss the profits.
In our trades below, we expanded our profits much and never got out of the market early.

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