The Latest reports about cryptocurrencies, blockchain and FinTech from Coinspeaker’s staff writers and our partners.
The strong bearish daily candle that broke down and closed below the $3,679 price level yesterday, followed by another bearish candle today implies that Bitcoin may find support at the previous low of $3,247.
In case the bulls gather momentum and break up the supply zone of $0.050 Cardano will resume its uptrend and may have its target at $0.058 supply zone.
In case the bears exert more pressure on the Stellar price and the demand level of $0.10 does not hold the coin will fall and may have its support at $0.09 – $0.06.
In case the support level of $73 holds the coin will break up the $80 resistance level and the bullish candle close above it, then it may have its target at $85 – $92, else further declination of Bitcoin SV price is certain.
According to the survey conducted by Gemalto, blockchain is positively welcomed in the IoT but there is a lot to do to ensure its mass adoption.
The breakdown of $0.31 demand level by the bearish momentum may push XRP to its previous low of $0.28 that is if the supply level of $0.33 holds.
Should the bulls defend the demand level of $109 and the price bounces Ethereum price will resume its uptrend movement and may have its target at the previous high of $164.
If the bears maintain their bearish momentum the previous low of $3,247 price level may be the target of Bitcoin.
Continuation of the bears’ pressure will lead to the penetration of the demand level of $0.10 in which the previous low ($0.09 price level) will be the target of Stellar price. Only when the $0.10 price level hold that will make the coin rally to the north.
Should the bears break the demand zone of $0.042 with a daily bearish candle, closed below the zone, Cardano price may find its low at $0.032 – $0.021 price level.
The breakdown of the support level of $85 with the strong bearish candle closed below the level will make Bitcoin SV to have its target at $80 support level.
It will take radical bullish momentum for the XRP price to break out of the $0.38 supply level and rally towards toward $0.43 price level. Should the bears defend the supply level of $0.38, XRP price will decline and may find support at $0.28 demand level.
In case the demand level of $146 does not hold the Ethereum price may find its support at $131 – $109 price level.
The bullish rally of the Bitcoin price is not certain until the coin breaks out at the resistance level of $4,249 and retests the level.
For a bullish bias to form there is a need for Cardano price to go above the supply zone at $0.046. On the downside, the demand zone at $0.035 stands to be broken, and that will require a strong selling pressure.