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Bitcoin - Ethereum - Ripple - Bitcoin Cash Technical Analysis | 7 August 2019

2019-08-07 10:46 am | Resource: Technical Analysis Section | No Views : 33

Bitcoin - Ethereum - Ripple - Bitcoin Cash Technical Analysis | 7 August 2019 Technical analysis of the most important currencies in the market: Bitcoin, Ethereum, Ripple, and Bitcoin Cash, with recommendations and its expected prices.

Bitcoin "BTC" Technical Analysis | 7 August 2019

Bitcoin (BTC) rebounded from $ 11,575 during yesterday's trading and continued to rise to $ 12,295.
It then fell to break the $ 11,508 zones and continued to bleed until the $ 11,227 areas from which it rebounded towards the $ 11,702 zones.
Bitcoin "BTC" Technical Analysis | 7 August 2019
Bitcoin (BTC) is trading in a downtrend that is being formed over the 60-minute interval. This trend supports breaking the $ 11558 zones, and while retesting the $ 11558 zones failed to breach these areas, indicating a growing bearish trend.
The ADX indicator has turned bearish and the trend is still weak.
The 20 SMA is currently neutral.
Momentum indicator with default settings is bullish without confirmation as trading continues below $ 11702 zones.

Outlook:  

It is expected that, in the event of a Bitcoin (BTC) breakthrough zones of $ 11,702, digital currency may target $ 12,175.
On the other hand, if the Bitcoin (BTC) breaks $ 11,227 zones, the cryptocurrency may target $ 10,699.
Support: 11508 - 11068 - 10699
Resistance: 11971- 12538-13045
Trend: Down

Ethereum "ETH" Technical Analysis | 7 August 2019

Ethereum (ETH) With the beginning of yesterday's trading, it bounced from the $ 225.33 areas and continued to rise to the $ 238.22 areas which failed to break through due to weak bulls' determination and bear pressure.
Based on the above, the cryptocurrency fell to break support areas of $ 225.33 before the end of yesterday's trading, and continued to bleed until areas of $ 221.19
Ethereum "ETH" Technical Analysis | 7 August 2019Cryptocurrency Ethereum (ETH) is trading in a bearish trend under formation This trend supports breaking the $ 225.33 zones on the hourly interval and does not recommend selling at the moment until the $ 221.19 zones are broken.
The ADX indicator is currently insignificant as a result of not trading in a specific direction.
The SMA 10 and the SMA 20 are so far neutral as a result of not trading in a specific direction.
Momentum indicator with normal settings is currently bullish

Outlook:  

It is expected that, in the case of the digital currency break zones of $ 221.19, Ethereum (ETH) may target $ 218.12.
Whereas, in the event of the Ethereum (ETH) breach of $ 221.19 area, the digital currency may target the $ 234.39 zone.
Support: 218.12 - 211.22 - 202.71
Resistance: 225.33- 234.39- 238.22
Trend: Up

Ripple "XRP" Technical Analysis | 7 August 2019 

The digital currency Ripple (XRP) failed to break through the areas of $ 0.3202 during yesterday's trading due to weak demand for them thus fell towards the areas of $ 0.3087.
Ripple "XRP" Technical Analysis | 7 August 2019 Digital currency Ripple (XRP) is trading in a downtrend This trend supports breaking the uptrend line on the hourly time frame. Currently, the currency is retesting the broken uptrend line and we recommend selling with breaking areas of $ 0.3087.
The ADX indicator is still insignificant.
The 20 SMA is neutral as it overlaps the price action.
Momentum indicator RSI 14 is trading in an uptrend for now.

Outlook:  

It is expected that, in the case of the digital currency break the $ 0.3078 area, Ripple (XRP) may target the $ 0.30 zone.
Whereas, if the cryptocurrency breaks the level of $ 0.3161, ripple (XRP)  may target $ 0.3216.
Support: 0.3071 - 0.3008 - 0.2942
Resistance: 0.3202- 0.3288- 0.3373
Trend: Up

Bitcoin Cash "BCH" Technical Analysis | 7 August 2019

Cryptocurrency Bitcoin Cash (BCH) fell yesterday from $ 353.90 areas due to weak buyers' determination as it failed to breach the $ 354.80 high and thus fell towards $ 327.90 areas.
Bitcoin Cash "BCH" Technical Analysis | 7 August 2019Cryptocurrency Bitcoin Cash (BCH), our neutral outlook is back on movement as a result of trading between $ 347.60 and up to $ 328.10 resistance on the hourly interval.
The ADX indicator is currently insignificant.
The 20 SMA is currently bearish.
Momentum RSI 14 Our outlook is currently neutral as a result of not trading in a specific direction.

Outlook:  

It is expected that, in the event of a Bitcoin Cash (BCH) breach of area of ​​354.80, digital currency may target zone $ 362.37.
On the other hand, if the cryptocurrency breaks the level of $ 328.10, the Bitcoin Cash (BCH) may target $ 319.07.
Support: 319.47- 302.86- 286.44
Resistance: 334.04 - 362.37- 383.98
Trend: Neutral

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