With Bitcoin adding just four percent in the last 24 hours has had a magnifying effect on Bitcoin Cash, Cardano and a host of other cryptocurrencies. Conspicuous enough are the rapid gains in Tron, Bitcoin Cash and EOS. EOS for example broke off the upper limit of the consolidation which printed shortly after Sep 5 losses. All in all, it’s likely that altcoins would stabilize and inch higher as the week comes to close.
Let’s have a look at these charts:
Bitcoin Price Analysis
Latest Bitcoin News
The Chief Commercial Officer at BitPay, Sonny Singh says their company has “never been so bullish” on Bitcoin like they are now. Citing some fundamental development that could slow down sellers and in turn propel Bitcoin prices to new levels, Singh said they are in fact adding more staff to help deliver their services. BitPay is a Bitcoin and Bitcoin Cash payment processing provider for merchants and currently, Singh said, the Bitcoin market is “fishing for a catalyst”. Announcement that Morgan Stanley is plans on launching a Bitcoin derivatives market with underlying asset as Bitcoin could be a market trigger following Goldman Sachs temporary withdrawal.
Bitcoin Price Prediction
In three months, Bitcoin price has bounced off the monthly support trend line in three different occasions. The recent bounce off from $6100 is but a clear indication that bulls are ready to drive Bitcoin prices towards our first buy trigger line at $6,800 and perhaps $7,200 a level from previous Bitcoin price analysis showed resistance.
In our case, we suggest placing mid-range buy triggers at around $6,500 and should it be hit today then risk off bulls can load small BTC sizes with first targets at $6,800 and $7,000.
However, for conservative traders waiting for clear Bitcoin buy signals, patience until after bulls breach the $6,800 mark is important. Thereafter, buyers can begin loading on dips with first targets at $7,200 and later $8,500 as by our Bitcoin price predictions.
Cardano Price Analysis
Latest Cardano News
Recent announcement from Emurgo, the business development wing of Cardano, said Metaps shall integrate ADA by November 2018. When they do, reports indicate, ADA shall be the preferred form of payment in more than 33K stores in South Korea. Undoubtedly, this shall be supportive of ADA whose prices have sunk more than 95 percent from after peaking late last year.
Cardano Price Prediction
From previous Cardano price analysis, 12 cents on the upside and 7 cents as the lower limit were but important levels—and they still are. Notice that though our ADA sells are now active following Sep 12 high volume drop below 12, yesterday’s lack of confirmation could likely build enough upward momentum triggering our stops at 8 cents. It’s a possibility that we must be aware of and because of that, caution must prevail today.
In that case, we recommend holding off taking shorts for today and any thrust and close above 7 cents would certify Sep 12 break below as a fake break out. However, should Cardano sellers jump in and drive ADA prices below 6 cents, then our previous Cardano price prediction holds and we should let the trade run only exiting when solid reversal patterns print in days to come.
EOS Price Analysis
A 10 percent spike in the last day translates to a breach above $5.5 triggering longs in the process. Thanks to yesterday’s bullish engulfing candlestick with relatively high volumes or market participation, odds of bulls having a go today is high. Due to these encouraging developments, we suggest buying EOS at pull backs in lower time frames with stops at yesterday’s lows at $5 with first targets at $7.
Tron Price Analysis
Latest Tron News
- Beginning Sep 17, Bittrex will offer fiat trading pair for the TRX/USD. Like before, only select states will be eligible to trade and accounts formed after Sep 4 cannot trade this pair until later dates.
- Sato Wallet and Exchange is the latest partner to join hands with the Tron Foundation. This partnership is a welcome addition to the community and token/TRX holders at this wallet can directly swap TRX for other tokens and vice versa. Besides, all internal transactions within the Sato Wallets would be free of charge.
Tron Price Prediction
The last 24 hours has been perfect for TRX price and with a double-bottoms at Aug lows, Justin Sun’s coin is poised to add more. Notice that TRX added an impressive 15 percent by close of yesterday and the result is a rejection of sell pressure following Sep 12 pin bar which hinted of buys since volumes were remarkably high. Since yesterday’s trade range was high, our Tron price prediction points of bulls. As such we suggest buying TRX in lower time frames with stops at 1.6 cents and immediate targets at 3 cents.
Bitcoin Cash Price Analysis
Latest Bitcoin Cash News
Bitcoin Cash Price Prediction
With a double bar bull reversal pattern and a bullish engulfing bar translating to a nine percent gain by close of Sep 13, it’s seems like Bitcoin Cash prices might be heading higher going forward. From yesterday’s Bitcoin Cash price analysis, Bitcoin Cash buyers should initiate long trades once there are solid moves above $500 or Aug lows. However, as we highlighted, considering the rates at which BCH is gaining ground, shift of momentum is largely due to shift of sentiment. In this regard, we suggest small size BCH buys with stops at Sep 12 lows at $410. Immediate targets should be at $600.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.