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Crypto Price Analysis for Oct. 7: BTC, ETH, XRP, LTC, EOS

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex Cryptocurrencies are correcting again and many assets are forming Triangle patterns, which indicate some uncertainty in further movements. To start growing, each asset must break the pattern’s upside border. However, if the bearish pressure is way too strong and the pattern is broken to the downside, the cryptocurrencies may continue their respective descending corrections. BTC/USD may fall towards $8,000 and complete a bullish pattern, which may be followed by further growth to reach new highs. Bitcoin In the daily chart, Bitcoin continues the correction between $11,200 and $10,00. In general, bulls manage to...

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Technical Bids at 332.87 Support ETH/USD: Sally Ho's Technical Analysis 7 October 2020 ETH

Ethereum (ETH/USD) moved higher in today’s North American session as the pair appreciated to the 342.83 area after trading as low as the 332.87 area during the Asian session, right around the 50% retracement of the recent appreciation from 313.00 to 353.14.   Traders tested the 343.03 area, representing a test of the 78.6% retracement of the recent appreciating range from 337.63 to 362.86.  Additional downside retracement levels include the 342.57, 342.06, 340.20, 339.37, 338.88, and 337.90 areas.  Traders are observing that the 50-bar 4-hourly simple moving average has recently bullishly crossed above the 100-bar 4-hourly simple moving average.  Traders recently...

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ETH/USD Tests 343.55 Support During Dive: Sally Ho's Technical Analysis 6 October 2020 ETH

Ethereum (ETH/USD) slumped early in today’s North American session as the pair depreciated to the 343.38 area after trading as high as the 355.33 area during the Asian session.  Stops were elected below the 347.74 and 345.16 areas during the move lower, representing the 38.2% and 50% retracements of the recent appreciating range from 334.19 to 356.12.  The pair tested the 342.70 area during the retreat, representing the 23.6% retracement of the recent broader depreciating range from 370.25 to 334.19.  Additional downside retracement levels include the 342.57, 342.06, 340.20, 339.37, 338.88, and 337.90 areas.  Traders are observing that the 50-bar...

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ETH/USD Oscillating Between 356.12 Resistance and 348.69 Support: Sally Ho's Technical Analysis 5 October 2020 ETH

Ethereum (ETH/USD) came off early in today’s North American session as the pair depreciated to the 348.69 area after trading as high as the 356.12 area during the European session, a test of the 356.48 area that represents the 61.8% retracement of the recent depreciating range from 370.25 to 334.19.  The next upside retracement levels in this range include the 361.74 and 362.53 areas.  Technical support was evident during today’s European session around intraday lows when buying pressure emerged around the 50-hour simple moving average, and also around the 23.6% retracement of the appreciating range from 310.79 to 360.61.  Chartists...

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ETH/USD Hemmed In by Narrow 306.29 - 488.95 Technical Levels: Sally Ho's Technical Analysis 4 October 2020 ETH

Ethereum (ETH/USD) gained ground early in today’s North American session as the pair appreciated to the 349.60 area after trading as low as the 345.07 area during the European session, just above the 344.70 area that represents the 38.2% retracement of the recent appreciating range from 334.19 to 351.20.  Notably, this was also above the 342.70 area that represents the 23.6% retracement of the recent depreciating range from 370.25 to 334.19, and traders are observing that price activity continues to orbit the 347.96 area, representing the 38.2% retracement of the depreciating range.  Another technical range that is influencing price activity...

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