4th August Cryptocurrency Technical Overview…

  1. BTC/USD

As the price begins to trade above $7,750, the probability of a breakout from the channel increases. Traders can buy on a close above the channel, keeping $7,200 as the stop.

If the bears sink the pair below $7,250, which a retest of the $6,000 line will be on the cards.Don’t find any trades. Wait for positive market developments.

  1. ETH/USD 

ETH/USD pair sustains above $405 for a couple of days, it can gradually move up to $500.If the bears sustain below $400 for a couple of days, a fall to $358 is probable. Wait for next couple of days for positive market developments.

  1. XRP/USD

 XRP/USD pair scales above $0.47, can expect range at $0.52 is possible. Long term trade for these market moments is difficult to judge.Wait for a breakout above $0.56270 to sustain before entering any long positions. 

  1. BCH/USD

BCH/USD pair stays above $620.We should wait for a breakout before buying. Wait for couple of days for positive market sentiments.

  1. EOS/USD

EOS/USD pair might trade in the range of $6.8926 — $9.4456. Wait for a low to be formed and can sell high at the high in the above range.

  1. LTC/USD

Around the $74.The LTC/USD pair will continue to trade at the range, might rise to the top of the range at $91.146. Or can also look at he support of $ 57. Traders should wait as the sellers are seen more in command and also the market sentiments are not in favour.

  1. XLM/USD

Stellar broke below the support line at $0. 2544.If the bears break below the slide can extend to the bottom of the range at $0.184. Or if the bulls are in command than it can go above $.0.2544. Wait for couple of days for more positive market news. 

NOTE: THE ABOVE PRICE ANALYSIS ARE GIVEN FOR REFERENCE PORPOSE ONLY AND NOT FOR TRADING.

 

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