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ETH/USD  

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Jack Natan
(@cryptojack)
Active Member
Joined: 5 months ago
Posts: 7
12/09/2019 12:54 pm  

Hello, 

This is a price analysis by Johan Tomasson from dagx.live:

EAccording to the price analysis of Johan Tomasson, a senior analyst at dagx.live, the bulls have failed to propel Ether (ETH) above the 20-day EMA. It can now again dip to the critical support at $163.755. If this support breaks down, the trend will turn negative and a fall to $150 is probable.

However, if bulls defend the support at $163.755, the ETH/USD pair might remain range-bound for a few days. A breakout of the 20-day EMA will be the first sign that the downtrend is over and a rally above $235.70 will confirm the start of a new uptrend. Tomasson might recommend a long position on a breakout above the 50-day SMA. Until then, he remains neutral on the cryptocurrency.

The bounce in XRP again fizzled out at the 20-day EMA. This is a negative sign as it shows that buying dries up at higher levels. Both moving averages are sloping down and the RSI is in the negative zone, which shows that bears are in command.

The sellers will now attempt to sink the price back below the critical support zone of $0.24508–$0.225. If successful, the XRP/USD pair will resume its downtrend and plummet to the next support at $0.19.Tomasson's bearish view will be invalidated if the pair rebounds sharply from the support zone and rises above the 50-day SMA. The dagx.live senior trader suggests traders wait for the cryptocurrency to form a new buy setup before initiating a trade in it.


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