On the downside, there is a decent support above the $ 680 level and the 100
hourly SMA.
On the downside, the price has to stay above the $ 1,000 level and the 100
hourly SMA.
The 100
hourly SMA is just below the 50 % Fib retracement level of the last decline from the $ 724 high to $ 616 low.
However, the price is facing a major barrier near the broken support at $ 0.2900 and the 100
hourly SMA.
Looking at the chart, the broken support near $ 0.8850 and the 100
hourly SMA is likely to act a resistance.
The pair settled below $ 0.3000 and the 100
hourly SMA.
Any further gains won't be easy as XRP buyers will most likely struggle to break the 100
hourly SMA and the $ 2.20 resistance area.
However, the broken support at $ 0.8280 and the 100
hourly SMA are likely to act as major hurdles.
Not exact matches
When making use of
hourly or daily candlestick chart, a 50 - period simple moving average (50
SMA) is a preferred trend filter.
The intraday picture remains bullish as long as the price stays above $ 124.00 (50 -
SMA,
hourly interval).
The next support is seen at $ 120.00, which coincides with 100 -
SMA (
hourly interval).
The intraday picture is bullish as long as the price stays above 50 -
SMA (
hourly interval) at $ 0.5100, while a sustained move below will add selling pressure and push XRP towards critical $ 0.5000 handle.
While the coin managed to recover, trading at $ 6,900 at the time of writing, the bulls need to clear $ 7,000 (100 -
SMA,
hourly chart and the upper line of Andrew's pitchfork) to improve the short - term picture and secure further recovery.
The upside is limited by $ 388.00 (100 -
SMA,
hourly interval) and $ 393 (50 -
SMA).
hourly interval), but the overall sentiments remain bearish as long as the price stays below $ 7,000, strengthened by 100 -
SMA (
hourly interval) at $ 7,050.
If it is cleared, the recovery may be extended towards $ 420.00 (50 -
SMA,
hourly interval) and $ 440.00 (100 -
SMA.
Looking at the
hourly chart both the 100 short term and the 200 long term Simple Moving Averages (
SMA), have been crossed for quite some time.
The immediate support is seen at $ 130,00, it is followed by $ 134.00 (50 -
SMA on the
hourly chart) and $ 140.00.
If the coin fails to extend the upside and to the above said $ 1,200 resistance line, the sell - off will resume with the first targets at $ 1,000 and $ 960 (100 -
SMA on the
hourly chart).
The coin stays below both 100 -
SMA and 200 -
SMA on the
hourly chart.
On the downside, the nearest support is produced by $ 11,400 (above mentioned upside trendline) and $ 11,130 (100 -
SMA on the
hourly chart).
LTC / USD sits below both 50 and 100 -
SMA on
hourly charts, while the MA crossing signals that the downside movement may get traction.
The coin gain over 10 % from Tuesday low and managed to climb above 50 -
SMA (
hourly interval), which improves the short - term technical picture.
On the upside, the first resistance is created by 100 -
SMA (
hourly chart) at $ 0.5000.
On the upside, the coin needs to get back above $ 47.00 (50 -
SMA,
hourly interval) to be able to extend the recovery towards $ 48.00 (100 -
SMA,
hourly chart).
As it is visible on the
hourly chart, ETH / USD is trading within a range, created by 50 and 100 -
SMA, where support comes at $ 526 and the resistance is created by $ 560.
The next resistance is created by $ 0.5450 (50 -
SMA,
hourly interval) and $ 0.5660 (100 -
SMA,
hourly interval).
The next hurdle comes at $ 136.65 (50 -
SMA,
hourly interval) On the downside, February 6 low at $ 105.31 comes into view as few technical levels can stop the decline.
Once it is cleared, the next upside targets - 82.80 (100 -
SMA on the
hourly chart) and 86.00 (61.8 % Fibo retracement)- will come into focus.
For the recovery to gain traction, NEO bulls need to take out $ 77.50, the resistance created by 50 -
SMA visible on the
hourly chart.
Consequently, the 200
SMA is acting as support on the
hourly chart, however, if BTC / USD breaks below this moving average, the dwindling selling pressure could pick - up the pace.