Monero, Bitcoin Cash and Bitcoin Price Analysis
The major cryptocurrencies are still moving sideways. Concerns over Trumps tweets have weighed on riskier assets. Crypto’s are experiencing lower volume and the lack of volatility as trader’s await an impetus to drive them higher.
XMR/USD Daily Chart Technical Analysis
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XMR is moving sideways but closer to support than resistance
Analysis
XMR prices are moving sideways as volume has been sapped from the crypto market. Support is seen near an upward sloping trend line that comes in near 159.40. Resistance is seen near the 10-day moving average at 171. Momentum has turned positive as the fast stochastic generated a crossover buy signal in oversold territory which reflects accelerating positive momentum.
Up-side Target: 171
Down-side Target: 159.40
BCH/USD Daily Chart Technical Analysis
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Bitcoin cash prices are attempting for form a bottom but has been unable to gain traction.
Bitcoin cash prices continue to trade sideways just above support near an upward sloping trend line that comes in near 604. Resistance on the crypto currency pair is seen near the 20-day moving average at 742. Momentum is positive as the MACD histogram is printing in the black with an upward sloping trajectory which point to higher prices. The fast-stochastic recently generated a crossover buy signal in oversold territory which points to higher prices.
Up-side Target: 742
Down-side Target: 604
BTC/USD 1-hour Chart Technical Analysis
Forecast
Bitcoin is moving sideways with a slight upward trajectory. Prices are closer to the top end of the range than the bottom.
Bitcoin prices are consolidating and are bumping up against the upper end of the hourly Bollinger band high which is seen as resistance at 6,868. Support is seen near the 20-hour moving average at 6,838, and then the Bollinger band low at 6,808. Additionally, the fast stochastic is poised to hit the upper bound near 80 reflecting an oversold condition. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal.
Up-side Target: 6,868
Down-side Target: 6,808
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Disclaimer. This content is for informational and educational purposes only. It does not constitute financial advice, a recommendation, or an offer to buy or sell any security or digital asset. Past performance does not guarantee future results. Cryptocurrency investments are subject to high market risk and volatility.