Disclaimer: the next analysis is conducted by crypto enthusiasts but not by professional financial advisors. Thus, we can’t guarantee 100% accuracy of forecasts. Be sure to consider our insights but also always do additional research before investing.
When Barclays analysts predict that Facebook’s own cryptocurrency can generate billions in extra revenue and crypto exchanges become sponsors of English Premier League football teams, traders fight for a highly-desired bull run which could attract even more users in the blockchain universe. Frankly speaking, the overall community interest is pretty high as even giants like IBM and NYT work on crypto- and blockchain-related projects.
Nevertheless, prices of top-rated assets aren’t as shiny as traders and investors want them to be. The market is moving horizontally but Bloomberg experts claim that key indicators reveal an upcoming downtrend. What charts show now, actually? Let’s see!
Prices and data for technical analysis are derived from CoinMarketCap. Information is valid for March 14, 2019. We don’t review Tether because this coin is USD-backed and has a stable 1:1 ratio with this fiat currency.
Bulls are more successful than bears, right now. They control the situation but still fails to break the most important psychological barrier at $4,000. Despite Bloomberg insights, technical analysis unveils high chances of uptrend emergence because both moving averages are heading up while the RSI remains positive. Bulls will be happy to break $4,255 to head towards the next goal at $5,273.
Actual support level is set at the 20-day EMA near $3,841. Bears work hard to push prices below this level and then focus on breaking the current uptrend. They will try to move to $3,699 to create a bridgehead to attack the final support range between $3,355 and 3,236. Fall of these levels will mean that BTC is going below $3,000. While indicators are positive, we can’t say who will triumph next week.
Our opinion: the perfect plan now is to wait Sunday evening and check the trendline plus support/resistance levels. Going above $4,100–$4,200 will mean a bullish run start but falling below $3,400 will be good for bears. Now, just maintain long positions.
ETH is in the strong consolidation phase which is proven by moving averages and the RSI. At least, short-term traders must consider this fact and anticipate changes in both directions. Mid-term and long-term predictions are more complicated but we’d say that ETH has good conditions for bulls.
Currently, positive traders try to defend prices at $134.5 but the currency seems to go down right now. It’s recently broken the first support at $134.5 which means that bears can push rate further to $116.30 where the core support barrier stands. The next goal is at $102.5 from where ETH can sink totally.
However, chances for bears are minor. Instead, bulls can overcome problems and focus on $144.8 with targets at $167.3 and $251.6. At first, it’s required to break the 20-day EMA ($136.6) and stay above it for some time. A lot of factors can affect current movements, so keep an eye on charts.
Our opinion: we think that the best thing is to keep long positions open but put some stop orders (if you don’t have a one yet) at $125.
The chart displays an interesting picture where XRP faces a mid-term descending pattern with a minor ascending triangle being supported by bulls now. Plus, the 20-day EMA and the 50-day SMA are extremely close to the current price and one to another (they’re at $0.3109 and $0.3079, respectively).
Bulls weren’t successful to find new buyers on high levels past days, so prices bounced down slightly. This bearish sign can be favorable for market players who try to break the current uptrend and move to $0.2779 or deeper to the yearly low at $0.2451.
As long as bulls have enough power to keep the rate above the triangle, they can hope to move to the first resistance at $0.3311. If prices close above this level, XRP will have good chances to skyrocket to $0.4 and start a new mid-term positive trend.
Our opinion: similarly, just watch for movements, don’t close long orders, and remember about Stop Losses which can be put at $0.2779.
This is one of the best pairs for bulls now. Both averages are way below the current rate and they head upwards while the RSI remains in the strong positive zone. To continue building this uptrend, bulls have to try to break the first resistance at $56.9, proceed to $59.4, and even capture record highs at $65–$70.
Despite we believe in LTC strongly, it’s possible that players will break the 20-day EMA ($51.6). In this case, bears will get an advantage to destroy the rising trend completely and push prices to $47.2 and even down. The only thing we’re concerned about is the negative divergence started in early February.
Our opinion: if you feel risky, buy more LTC now to enhance longs and help bulls. Otherwise, simply HODL and use stops which should sit at $50.
EOS now is traded extremely close to the 20-day EMA ($3.6) and bears can focus on breaking this level. Hence, prices will move down to $3.15 where the 50-day SMA is located. A further dump will cause huge losses thanks to which the enhanced downtrend will slide to $2.17.
Nonetheless, the second support should force traders to buy huge amounts of coins, so bulls can be calm about this barrier. Another question is whether they are powerful enough to break the downtrend and move to $3.9 or $4.5. During past days, EOS failed a few attempts to break the current resistance but we hope it will be able to do this.
Our opinion: because of the small distance between the actual rate and the 20-day EMA, we suggest waiting a bit. Keep longs open, set stops at $3.1, and try to purchase more EOS upon approaching to the final support at $3.1–$3.15.
This pair is traded in a small range between $120 and $140 which is defined by two moving averages. Recently, bears failed their best try to go below $120 where BCH has found strong support of buyers. Similarly, bulls aren’t successful in their attempts to move above $140 because there are way fewer buyers on high levels.
Now, both variants are equally possible but we bet on continuous consolidation because everything related to TA indicates horizontal movements. Still, bulls can try to go to $158–$164 and then focus on high resistance at $175. Simultaneously, bears have the opportunity to breakdown support and move to $105 or yearly lows near $73.5.
Our opinion: you can retain open longs with stop orders at $116 but we suggest new traders to avoid purchasing BCH now.
Probably, BNB is the greatest lucky devil among top currencies. This coin has extremely bullish moving averages which head up strongly and the nearly perfect RSI sustained in the overbought area. The current resistance for buyers is $15.9. Break it – and bulls will run for the lifetime high at $18.
However, lack of positive traders near the resistance can change the game and dump prices below $14, $13.1, and even to $10. The next two or three days will be definitive for this pair.
Our opinion: if you have already booked full profits, don’t buy back as it’s too risky. But if you have open positions with partially secured profits, keep them and watch for changes. In the case that BNB fails to stay above $15.9 within next days, sell the entire position.
XLM is consolidating for a few days in a row. Although, indicators are positive for bulls because we see that the 20-day EMA features an uptrend and the RSI has overbought signs. Prices are close to the first bulls’ target at $0.1125 which can act as a basement for further attacks on $0.1343.
It’s also possible to move down from the current position. Thus, bears will try to reach the 20-day EMA at slightly higher than $0.093 and then focus on $0.0929. This barrier is strong enough because it has protected the ongoing uptrend for three times! The breakdown will cause a painful downtrend to yearly lows.
Our opinion: there’s nothing better than to keep longs with stops put at $0.08. Formally, tech indicators are good but we aren’t sure about bulls in this case.
Technical analysis says that TRX has bad days now. The 20-day SMA is in a downtrend when the RSI is fully negative. The coin lacks buyers on these levels which can be fatal. We expect bears to sink prices and reach the critical support barrier at $0.0183. Before, they must move through $0.0209.
On the other hand, positive news or blockchain improvements can attract attention to TRX and help bulls to cross moving averages: $0.0236 and $0.0251. The highest actual resistance sits high at $0.0281 but the market is unpredictable. Still, we remain bearish in our forecasts, as for now.
Our opinion: currently, we don’t suggest any actions but you should open a long position in two cases: if the price remains stable above $0.0281 and if it goes down but then bounces from the final support at $0.0183.
Since the last week of December, 2018, ADA is traded in the stable range between $0.0368 and $0.0514. Buyers have protected prices two times when they have purchased coins near the range’s bottom. But sellers have reacted to pumps and have secured profits near resistance levels. This shaky balance is likely to continue.
Current indicators are better for bulls, though. Moving averages head up slightly and the RSI enters its positive area. After a break of $0.0514, prices have high chances to skyrocket to $0.0661 and $0.08. A new bear run is unlikely because traders will have to focus on the bottom at $0.0368.
Our opinion: keep Stop Losses at $0.044 and move them higher as long as prices also increase. You can use automated Trailing Stops provided by Superorder to avoid manual actions. As for purchasing, we recommend buying above $0.056 only.
Overall, the market has all signs of a new global bull run as primary technical indicators enter favorable zones for bulls. This news are great also because the entire ecosystem attracts more attention from large corporations, institutional players, and ordinary people. Thanks to combining blockchain improvements with innovative use cases and bullish moods, we expect significant uptrends this spring. Particularly, Consensus 2019 can be a game-changing event for the industry.
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