Total Crypto Market Capitalization
After fading into the support line of average (Purple EMA Band), the price rebounds. This means we still are on the positive side. There is no sign of any new low – the price seems to be increasing continuously. Thus, we are dealing with new correction with continuous change in the price and EMA band.
Technical Signal Trading
BTC dropped from 60,000 BTC/USD. The price fell to the average support zone and immediately rebound back into the top around 50,000 BTC/USD. What we need to focus on is the stability of the price that is increasing. This results in formation change. Will this be a continuous or a reversal pattern? Let’s wait a little longer to figure it out.
The performance of ETH is similar to Bitcoin, with a deeper drop! It dropped off from 2 zones on the graph and came back up 1 zone above average line. As we can see here, the price is stuck around 1,700 ETH/USD at the resistance line. Are we going to get through this or not? The formation of ETH price will be the answer to this.
XRP is currently stable. As we flashback into the past, the price fluctuated from the top to the bottom of the graph for 4 times. ADX and ATR indicators have given us hints about the large upcoming price movement in the near future. We do not need to be panic. Just go with the flow and we are going to be okay.
LTC hit the support line in the bottom of the zone (which is also the average line of support). The movement of the price is similar to BTC and ETH, but LTC is one of a kind because there has always been some sort of actions along the movement. Both support and resistance lines are reliable, they will make your strategy stronger!
The price of Gold is decreasing continuously. It is on its way down under the Dow Theory, the performance of indicators such as ADX, RSI, MACD and EMA represent the downturn. However, looking at the short-term (Candlestick chart of 1 hour and 30 mins), the rebound of the price started to rise. Let’s see how far the price is going to go from 1,700 can it be from 1,700 Gold Spot/USD. Will the price rise above 1,770? Who knows?
Strategy from ZIPMEX
However, Zipmex will not take any responsibilities for the above analyses. Investors must realize that every investment is at risk.
Please use your own judgement when investing.