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The market data is provided by the HitBTC exchange.
After a prolonged downward trend, most of the large cryptographic curves show gains on a weekly basis. This shows that the recovery takes up steam.
But even after the recent rise, most tokens are still long during their lifetime. Cryptocurrencies will take a long time to build large bases, on which the next bull phase will be built. It is too early to call a bottom.
A bear market is a good time for investors to pick up the best coins for a bargain. Alexis Ohanian, co-founder of Reddit, has said that the current bear market has driven away all the speculators and leaves only the true crypto-believers.
This is a bullish sign because the lethal crypto enthusiasts are buying for the long term and will not panic sell at the next 30 percent decline.
After a new run begins, new traders will start jumping in. The entrance of institutional investors and the approval of an encrypted listed fund (ETF) can boost the crypto prices. Once an ETF is approved in the United States, other nations can follow.
EOS / USD
EOS has been on the roll and has proven to be the best performer among the major cryptographic baskets that increase by approx. 35 percent for over seven days. The EOS community seems to have been satisfied with the assurance of block.one CEO Brendan Blumer, who posted in cryptocurrency's official telegram channel that "big things take time."
In his message, Blumer also said he would not take what he called the short-term approach and push out semi-finished products. Is this position good enough to carry cryptocurrency higher, or is the rally hit a roadblock? Let's find out.
EOS / USD pair trying to rise above the overhead resistance of $ 3,823. If successful, it would indicate that markets have declined the lower levels, therefore, medium-term investors can buy a weekly shutdown (UTC time frame) over $ 3.88723 and hold a stop loss below The strong support of $ 2.1
If the price maintains above $ 3,823, it can move up to $ 6.8299. Although there is a slight resistance of $ 4,499, we expect it to be crossed, even reaching $ 9 , 30.
Both moving averages are flat and RSI has moved up towards the midpoint, indicating that the bottom formation is in progress.
Our bullish point of view will be void if the price drops from current levels or from $ 4,490, and breaks under $ 1.55
ETH / USD
Week's Some Heated Discs Ethereum (ETH) communities leading to Afri Schoeden, release leader at blockchain infrastructure company Parity Technologies, complete all Ethereum projects.
The Commodity Futures Trading Commission (CFTC) has largely received positive comments regarding the Ethereum mechanism. Will it open the door to a regulated futures contract at Ethereum? Let's keep our fingers crossed.
ETH / USD pair has moved up over the past two weeks, it has risen from $ 103.2 to its current level during this period, the 20-week EMA fluttering out, and the RSI climbs gradually towards the midpoint, showing that the bear loses their grip .
A breakout over $ 167.32 will indicate strength and confirm a bottom of $ 83. Therefore, dealers can buy a weekly closing (UTC time frame) over $ 167.32 and hold a stop loss of $ 100. If the price does not maintain the higher levels after breakout and dips during breakout level again, it will denote weakness and positions can be closed.
If cryptocurrency retains over $ 167,32, it can move up to $ 225 and over to $ 255. Traders can trail stop loss higher as the price moves north.
BCH / USD
Coinbase releases a new sales update over the next few weeks that will support Bitcoin Cash (BCH). Major Malta-based cryptocurrency exchange OKEx has added Bitcoin Cash support to its customer-to-customer (C2C) trading platform. Traders can now buy Bitcoin Cash from one of the five fiat currencies supported by the platform.
What do the charts show for the next few weeks?
In the medium term, we see no major bullish signals yet, although the bulls are trying to make a higher $ 105, it will take some time before we can confirm the start of a new uptrend.
A breakout over $ 239 becomes the first step to confirm The bottom has been formed at $ 73.5.The EMA is also just over $ 239. Therefore, it is likely that this will act as a major obstacle, and when it is crossed, the BCH / USD pair will gain momentum. is much higher, closer to $ 600.
Although short-term traders may try to stay on the long side for some quick profits, medium-term traders should wait for a confirmation of a bottom-up e-purchase.
BNB / USD
Binance launched the test network of its new decentralized facility sling, Binance DEX, February 20. With this, the company aims to offer its customers the best features of the Binance exchange in a decentralized setting.
The Binance Academy has risen to the third place on the Product Hunt Exposure Platform. Binance Charity Foundation (BCF) has launched a lunch-based program in Uganda, where approx. 200 students and school staff get two meals in 2019.
Binance Coin (BNB) has been regularly highlighted on our list of top cryptographic artists. Can this continue?
BNB / USD pair Shows strength. It easily broke the resistance of $ 10 and is currently resisting $ 12. This zone has proven to be a major obstacle in the past, so we expect a smaller depth or consolidation in the coming days.
Both sliding average is flat and RSI has risen into the positive range, showing that bulls are back in the game.
A $ 12 break could push the price to $ 15 and over to $ 18 while a deal from the current levels will find support close to $ 8.
Although we have been bullish on the couple for the last couple of weeks, we could not spot a reliable pattern or a good stop-off point. with the coin
XLM / USD
Head of Blockchain Development & Digital Currencies at IBM, J esse Lund, has suggested a new partnership with Stellar (XLM), which has increased cryptocurrency prices.
Can this news change the coin's fortunes? Let's find out.
While most other cryptocurrencies is well above their recent downturn, and the XLM / USD pair continues to shatter by itself, if the bulls push the price over $ 0.09285498, the recovery can expand to $ 0.13427050. The 20-week EMA is also just above this level, so that it can act as a major roadblock.
Both moving mean values are sloping down, and RSI is still in the negative zone. Cryptocurrency has also been a major underperformant in the current withdrawal to break out of $ 0, 09285498, the bear will again attempt to resume the downward trend by breaking down to a new annual low, therefore we do not propose a trade in the pair.
Market data is provided by the HitBTC exchange Map for analysis provided by TradingView