Azeez MustaphaTechnical Writer
Azeez Mustapha is a specialist in Computer Studies (including DTP), Forex and Crypto trading professional. Being expert technical and currency analyst, as well as experienced fund manager and author of several books, Azeez places strong focus on crypto market studies conducting comprehensive price analyses and sharing forecasts of presumptive market trends.
A breakout below the support level of $3,094 will further decline in Bitcoin price towards $2,261 – $1,500 price level. Traders can remain flat as long the consolidation continues.
In case the bears were able to break downside the demand zone of $0.027 then it will have its low at $0.022. Else, the Cardano price will bounce and rally to the north to have $0.032 – $0.042as its target.
The strong demand level of $0.13 was broken downside last week and Stellar price may have its low at the demand level of $0.10 as more strong bearish candles are forming which indicates that bears’ pressure is increasing.
The BSV coin (previously called Bitcoin Cash SV) may have its low at the support level of $64, only if the bears increase their momentum and break the demand level of $86 downside.
Should the demand level of $0.32 holds, XRP price will have its target at $0.43. In case the bearish candle penetrates the demand level of $0.32 and close below it, the coin will face the demand level of $0.25.
Ethereum may find its low at the $90 demand level in case the bears were able to break the demand level of $102 downside.
The traders should watch out for the breakout before taking the position. Should the bulls defend the $3,949 price level, the Bitcoin price may rally to the north and have its target at $5,084 – $5,667.
The bulls may push the Cardano price up to the range of $0.052 and $0.058 if the daily bullish candle closes above the price level of $0.042
In case the bulls gain enough momentum to break up the supply level of $0.17, Stellar will rally to the north and have its target at the $0.20 price level. Should the supply level of $0.17 holds XLM will have its low at $0.10 price level.
In case the resistance level of $90 holds the Bitcoin Cash SV price will bounce and the bears will take over the market and have its target at the support level of $39.