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Daily Technical Analysis Of Crypto

Discussion in 'Cryptocurrency' started by Deya Hroob, Feb 1, 2018.

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  1. Deya Hroob

    Deya Hroob Affiliate affiliate

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    Stellar should I Buy

    As the sentiment is still showing weakness across all the Crypto, Stellar has broken down both the $0.55 support level and the trendline. Stellar bounced back from the 50-day SMA but found it difficult to penetrate the previous trendline which is now acting as a resistance.

    In order to resume the uptrend, we need to break out the trendline as well as going above 20-day EMA. Any breaking out of the trendline will take Stellar to the first target $0.73. Although, The chart shows that both the trendline and 20-day EMA are at the same level and they both sent Stellar down.
    On the other hand, if Stellar can't go above the trendline in the next few days, it will sink to lower levels in order to gain some momentum. The first support level will be at $0.45 thereafter $0.30.
    Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns.

    [​IMG]
     
    Rainmaker likes this.
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  3. velocity49

    velocity49 Affiliate affiliate

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    Thanx for sharing this information
     
  4. Deya Hroob

    Deya Hroob Affiliate affiliate

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    Stellar what's next

    XLM has broken the trendline and the 50-day SMA after the panic selling across all the crypto today.
    We forecasted in our previous analysis that if Stellar breaks the trendline it will fall to $0.30 and that what happened. This level emerged strong buying which took Stellar back to $0.45 level very quickly.
    Actually, $0.45 level is 23.6 percent Fibonacci retracement level and where 50-day SMA is located now, so they both act as strong resistance as shown in the chart.
    Therefore, aggressive traders can open long when a break out of the trendline, others they should wait for a bullish confirmation which is above $0.64.
    On the other hand, if the next dip towards $0.30 holds the price, we suggest initiating long positions.
    Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns.

    [​IMG]
     
  5. SanjayAffix

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    Is there any reason using USD instead of Sat value ? What support level you think for Bitcoin ? When we are going to see overall bullish trend in market ?
    For noobs, Its extremely hard to do day trading in this bearish market. I think its bets time to buy more or enter into the market.
     
    Deya Hroob likes this.
  6. Deya Hroob

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    Bitcoin needs to build solid bottom at $8000 to go long. We can confirm the bottom if $8000 level holds in any next fall, If the lows $8000 break, the downtrend can extend to $6,000 level.
    On the other hand, the overhead resistance is $10000 then $12000.
     
    Rainmaker likes this.
  7. Deya Hroob

    Deya Hroob Affiliate affiliate

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    NEO how to trade

    NEO has suffered from the panic selling across all the crypto yesterday. The bears took it to $93 levels. This level proved to be a good support, it is 61.8 percent Fibonacci retracement levels of the recent rally from $25 to $200.

    Moreover, NEO is still trading above The 50-day SMA which is quite positive. On the way up we expect $135 level will show some resistance and just above it, there will be the trendline. Therefore, we only recommend open long on a break out off the trendline.

    Any dips will find support from the 50-day SMA and then $93 level.

    Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns.

    [​IMG]
     
    Last edited: Feb 4, 2018
  8. Deya Hroob

    Deya Hroob Affiliate affiliate

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    LTC how to trade

    After breaking down the strong support at $175, the bears succeeded to bring LTC to $100 level.
    Strong buying triggered at this level and a pullback carried it to 100-day SMA which acts as a resistance. Apart from 100-day SMA Litcoin will face a strong resistance at $175 level which is 23.6 percent Fibonacci retracement level of the recent fall from $420 to $100.

    Hence, if LTC can't break out this level as well as the downtrend in the near future, it may retest the $100 again.
    At this current situation we don't recommend any trade on LTC.
    Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns.

    [​IMG]
     
  9. SanjayAffix

    SanjayAffix Affiliate affiliate

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    I guess it should be $93 ??

    Question, What time frame you are looking in your chart ?

    Thank you for the daily TA reports
     
  10. Deya Hroob

    Deya Hroob Affiliate affiliate

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    Yes, it's $93. It's a daily chart
     
  11. SanjayAffix

    SanjayAffix Affiliate affiliate

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    My guess is $5000 - $5500 is the next support level for bitcoin ..
     
  12. Deya Hroob

    Deya Hroob Affiliate affiliate

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    LTC how to Trade

    In spite of uncertainty and the strong selling across all the crypto, we will try to identify some lower levels which may offer us good deals.
    LTC is trading below 100-day SMA which is a bearish sign, it also could not break out the downtrend which resulted in falling to around $100 level as we predicted in the last analysis.
    Therefore, long traders should wait for $100 level to hold the price because this is will be the first recovery sign. The strong bullish sign will be breaking out the downtrend and the $175 level.
    Conversely, if $100 level broken, LTC will sink to $82 level.

    [​IMG]
     
  13. Deya Hroob

    Deya Hroob Affiliate affiliate

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    We need now to break up the trendline to confirm the bullish view.

    [​IMG]
     
  14. Deya Hroob

    Deya Hroob Affiliate affiliate

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    NEO HOW to Trade

    NEO has broken below the 50-day SMA, the critical support of $93, but it saw a huge buying at $63 level which is 78.6 percent Fibonacci retracement levels of the recent rally from $25 to $200. It bounced back quickly to $123 and gained huge profit.

    As shown from the chart, although NEO went above 50-day SMA and $93 level again it stopped by the trendline which acts now as a resistance. We believe that breaking up the trendline
    will confirm the bullish view on NEO.

    On the other hand, any dips will find support from $93 level thereafter the 100-day SMA.

    [​IMG]
     
  15. Deya Hroob

    Deya Hroob Affiliate affiliate

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    We should observe $0.40 level now above it comes $0.45

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  16. Deya Hroob

    Deya Hroob Affiliate affiliate

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    Ethereum How to Trade

    Like other Crypto, Ethereum saw a decline in price until it found a support at $562. The pullback couldn't go above 38.2 percent Fibonacci retracement level of the recent fall from $1414 to $562. We believe that the stronger resistance will be as shown on the chart from the 20-day EMA and 50-SMA at around $940.

    On the other hand, any next fall to $750 and $700 levels will attract the bulls to add some long trades on their positions.
    Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns.

    [​IMG]
     
  17. Deya Hroob

    Deya Hroob Affiliate affiliate

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    Where's Ripple Heading
    After a sharp fall, Ripple bounced back from the low of $0.564. We believe that it will enter in a range-bound trading. The support of the range is $0.61, whereas, the resistance will be at $0.87. Just above the $0.87 level, there will be the downtrend and the moving averages. Breaking out the downtrend will be the first sign of recovery.
    [​IMG]
     
  18. Deya Hroob

    Deya Hroob Affiliate affiliate

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    The $1 level is so important, breaking it out may take Ripple to $1.40 target.
     
  19. Deya Hroob

    Deya Hroob Affiliate affiliate

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    BTC in a Downtrend Channel

    Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.

    Bitcoin is trading in a downtrend channel. It is also trading under 20-day EMA and 50-day SMA.
    Today the price is affected by the trendline inside the channel.
    If Bitcoin manages to break out the trendline, it may go to $12000 target which is also the upper resistance of the channel. Any fresh long position should be opened on a breakout of the trendline.
    Conversely, If any new dips happen we should look for the previous low around $5800 to go long, as long as it is not broken down.

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    iam1337 likes this.
  20. Deya Hroob

    Deya Hroob Affiliate affiliate

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    Stellar Price Analysis

    Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.

    In the past few days, XLM was trading in a range-bouned. The support of the range is $0.30, whereas, the resistance is at $0.40. Just above $0.40 level, XLM will face many hurdles in its way to resume the uptrend. There is the trendline which behaves previously as a support, and there are the moving averages. Moreover, the 20-day EMA broke below the 50-day SMA which considered a bearish crossover.

    Finally. there is the upper resistance line of the downtrend channel. I believe that XLM will face a selling pressure from the moving averages and the upper resistance line of the downtrend channel.

    Hence, we may consider buying stellar after breaking out the channel.

    In the way down, $0.30 level has proved to be strong support, so if any dips to that level hold the price we may open long. However, XLM will be negative if $0.30 level broken down.

    Stellar previous analysis


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  21. Deya Hroob

    Deya Hroob Affiliate affiliate

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    Dash Price Analysis

    Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.


    The Dash is likely to face resistance at $650 from the 20-day EMA and the trendline. I believe that If Dash manages to go above these levels it will rally to the next resistance level around $840 which is the 38.2 percent Fibonacci retracement level of the recent fall from $1590 to $370 and where 50-day SMA is located now.
    On the downside, $450 can provide us with some support.
    Hence, I recommend buying Dash when breaking out the trendline. The profit objective is a move to $840.

    [​IMG]
     
MI