The views and opinions expressed here are only those of the author and do not reflect the views of the Cointegraver. Every investment and commercial movement involves risk, you must conduct your own research when making a decision.
Market data is provided through the exchange of HitBTC.
While several cryptavices compete to attract investors' attention, stable gangs have gained popularity in silence. At present, most of the stable currencies are anchored to the US dollar. The United Kingdom-based cryptographic processor processing processor, Wirex, announced plans to open stable circuits that are linked to several fiduciary currencies. This, in their view, will allow "fast and international delivery without the need of local liquidity providers."
Many projects focus on problem-solving in cross-border payments using blockhead technology. A prominent name among them is JPMorgan Chase (JPM), which managed to attract more than 220 banks worldwide in its Interbank Information Network (IIN). JPM is working to achieve a rapid resolution of the problems associated with international payments that are stuck.
About 20 of the largest crypto market traders met in January to discuss the steps needed to make a class of assets more attractive to institutional investors. The next stage of growth will require the participation of institutional actors, but some institutions remain skeptical of the stigma associated with the class of assets. However, if the cryptavices show a sustained recovery, many will be forced to take a step.
BTC / USD
Bitcoin (BTC) faces sales rising to a 20-day exponential average (EMA). This suggests a reserve of winnings on some of the bulls and possibly the initiation of short positions from the bears. If the price slips below the mobile exponential average (EMA) of 20 days, it will indicate a weakness and will fall to $ 4,914.11 within the capabilities. This is an important support. If it breaks, the next stop is the 50-day simple average leap (SMA).
If the bulls defend the support zone between 20 days of the exponential average (EMA) and $ 4,914.11, the pair BTC / USD will try to resume its movement upward. Observation levels are up 5,600 dollars and over 5,900 dollars. We expect strong resistance in this high area. That's why we recommend closing the partial positions above $ 5,600 in our previous analysis.
Until then, the limitation of losses in the remaining long positions may be maintained at 4,800 USD. The couple gives mixed signals. While the rising averages and the relative force dynamics (RSI) in the positive territory are on the left, the negative divergence in the RSI's development is a red flag. The next few days are critical for the leading digital currency.
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ETH / USD
Eterium (ETX) sank below the 50-day SMA on April 25 and reached our loss of the remaining long positions at $ 150. However, we like the way the bulls try to bounce on the 50-day simple average jump (SMA). If they manage to raise the price again over $ 167.32, this will indicate that the current fall is a trap for bears.
But if the ETH / USDD pair fails to climb over $ 167.32, players' sweeps will again try to pay the price below the 50-day SMA. If successful, the pair can be reduced to $ 144.78 and below this, it's likely to fall on the trend line of the triangle model. The 20-day moving average (EMA) began to decline, and the Relative Force Index (RSI) dropped below 50. This suggests that the bears reappear. We will wait for the price to stay above USD 167.32 before being positive again.
XRP / USD
Ripple (XRP) again plunged into the channel and fell to a critical support of $ 0.27795. If this support goes bankrupt, the next stop will be a new test for the annual minimum of $ 0.24508.
Average averages have completed a bearish cross, and the relative strength index (RSI) is close to the levels of oversold. Although these are negative signals, we will ignore them because the XRP / USD pair is related to the range.
The best way to trade in the range is to buy near the bottom and sell it in the resistance, but we suggest that traders avoid buying now because the couple has suffered worse in recent days. This indicates a lack of interest in purchasing.
Our soft bias will prove inaccurate if the digital currency sharply refuses from the current levels and once again rises above the channel. We did not find credible purchases at current levels.
BCH / USD
Bitcoin Cash (BCH) is trying to keep the critical support zone between $ 255 and $ 241.97. If this zone fails, it is likely to reduce the decline in the Simple Average Movement (SMA) of 50 days. Under this level, the digital currency can make 100% retreating on a recent return.
If the bulls defend the support zone and provide a strong increase, the pair BCH / USD may stay within the range for several days. The couple is at a critical level. Because the pair has a history of vertical concentrations and cascading falls, we will wait to form a customer's configuration before proposing a long position in this pair.
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LTK / USD
Litecoin (LTC) receives support for the 50-day Simple Mobile Average (SMA) in the past two days. The two average movements are flattened and the Relative Strength Index (RSI) is just below the midpoint. This indicates consolidation in the short term.
At present, bears face sales in the 20-day Mobile Exponential Average (EMA) and the resistance line at the bottom. If the LTC / USD park exits the channel, it can range up to $ 84.3439 and above it to $ 91.
Conversely, if the bears submerge the pair below the 50-day simple average leap (SMA), they may fall to $ 62,450. Breakdown of this support will change the trend in favor of bassists. We will wait for the digital currency to form an upward configuration before proposing a long position.
EOS / USD
EOS is trying to support the support of the 50-day simple average leap (SMA). The upward trend of the growing wedge and the horizontal support of 4.9930 dollars are also below this level. Therefore, we expect strong defense from the bulls.
However, the 20-day movable exponential average (EMA) shifts, and the relative strength index (RSI) is in negative territory, indicating that beating players return to action. The collapse of the wedge will be bearish and has an objective model of 2.80 USD.
On the positive side, a break from the 20-day movable exponential average (EMA) and the line of the bearish trend will show strength. The upward targets are $ 5.6163 and above that, $ 6.0726. We will wait for the EOS / USD pair to stay above the line of the bearish trend before it becomes positive.
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BNB / USD
The Binary Coin (BNB) is in a strong upward trend. She returns to the 20-day EMA, which shows that buyers are ready to support it in any fall. The bulls will try to make a new maximum again. In the previous three occasions, the price dropped from the resistance line. Therefore, this is a great resistance to take into account. If the cryptocurrency broke the wedge, it would overturn the bear pattern, which is a bullish sign.
But if you pair BNB / USD can not reach new heights or maintain, swords will again try to return to the mobile exponential average (EMA) of 20 days. The pair remains strong as long as it stays above the line of the growth trend of the wedge. A pause in the wedge will be the first warning that there is a probability of deeper correction.
For now, both average are improving, and the relative strength index (RSI) is also in positive territory. This suggests that the path of least resistance is upward. We will wait for the price to maintain new heights before proposing a long position.
XLM / USD
Stellar (XLM) broke under the trend of increasing the trend of the rising wedge pattern on April 25. This is a negative signal, but the bulls try to bring the price back to the wedge. On the positive side, they will face strong resistance in average values and above it at 0.12039489 USD.
If the XLM / USD pair does not stay above the upward trend line, it can be reduced again and broken under the wedge. This will give you an immediate target of $ 0.080. Average jumps will complete a bearish cross, indicating that bassists are responsible. We propose operators wait for pairs to show some strength before starting a long position.
ADA / USD
Cardano (ADA) continues to operate within the descent channel. It is immersed in the 50-day simple average leap (SMA), which is a strong support. Although the bulls managed to stay at this level, they were unable to provide return. This shows a lack of urgency to buy at these levels.
The mobile exponential average (EMA) of 20 days began to decrease and the relative strength index (RSI) dropped into the negative zone. If the support zone between the 50-day moving average (SMA) and 0.063230 USD breaks down, it will indicate that the bears have the advantage.
The breakdown of the descent channel will be the first positive position that ADA / USD can bring to 0.082952 USD. We will expect the price to increase by USD 0.094256 to become positive. Currently, we are neutral in the pair.
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TRX / USD
TRX tries to rebound to support USD 0.02094452. It is likely to face a certain resistance in the movement of the average, above which can be increased to 0.02815521 USD. Bulls three times managed to raise the price above 0.02815521 USD, but failed to hold the break. This shows sales at a higher level. The digital currency can gain momentum above USD 0.03278079.
On the other hand, if the TRX / USD parka can not go beyond the average average, the bears could again try to break below USD 0.02094452. The next support on the underside is 0.01830 dollars, which is likely to remain. We will wait for the price to break and stay above the range before proposing trade in this pair.
Market data is provided through the exchange of HitBTC. TradingView provides graphs for analysis.