{"id":26842,"date":"2023-07-27T05:20:35","date_gmt":"2023-07-27T08:20:35","guid":{"rendered":"https:\/\/tiproject.online\/index.php\/2023\/07\/27\/key-trading-levels-to-watch\/"},"modified":"2023-07-27T05:20:35","modified_gmt":"2023-07-27T08:20:35","slug":"key-trading-levels-to-watch","status":"publish","type":"post","link":"https:\/\/tiproject.online\/index.php\/2023\/07\/27\/key-trading-levels-to-watch\/","title":{"rendered":"Key Trading Levels To Watch"},"content":{"rendered":"

[ad_1]
\n<\/p>\n

\n
\n

Bitcoin, Ethereum and Doge Forecast Video for 27.07.23 by Tim Smith<\/h2>\n

Leading cryptocurrencies, Bitcoin (BTC<\/a>), Ethereum (ETH<\/a>) and Ripple\u2019s XRP (XRP<\/a>) continued to add modest gains throughout Thursday\u2019s Asian session despite the U.S. Federal Reserve lifting interest rates<\/a> to a 22-year high on Wednesday. Investors took the glass half full view that the current rate hike cycle may be nearing an end and continue to focus on crypto-specific drivers.<\/p>\n<\/div>\n<\/div>\n

\n
\n

\u201cThe Fed announcement doesn\u2019t change the story related to crypto,\u201d Generative Ventures\u2019 Lex Sokalin told CoinDesk<\/a>. \u201cWe are already in a risk-off environment. Things could maybe get more catastrophic with war or recession, but tech and finance are at a fairly stable compressed valuation, with AI perhaps being an outlier.\u201d<\/p>\n

Below, we take a closer look at important technical levels worth watching on the charts.<\/p>\n

Bitcoin<\/h2>\n

Bitcoin\u2019s price has traded flat to moderately higher since Tuesday, oscillating within a broad symmetrical triangle-like pattern. Volumes have been lackluster, indicating apprehension from the bulls. Traders should monitor for breakouts either above or below the triangle\u2019s upper and lower trendlines. Interestingly, the 50-day simple moving average (SMA) aligns closely to the pattern\u2019s top trendline, providing additional resistance at that level around $29,720, while the 200-day MA appears to be adding support near the lower trendline at $29,220.<\/p>\n<\/div>\n<\/div>\n

\n
\n

Ethereum<\/h2>\n

Ethereum bulls have shown their horns in mid-week trading, driving the price above a multi-week downtrend line. Impressively, increasing volume backs to move, suggesting a degree of buyer conviction. Throughout Thursday\u2019s Asian session, the price continues to grind higher after a retest of the trendline, paving the way for further gains. A break above the 50-day SMA could lead to an impulsive move to key resistance levels at $1,900 and $1,920. However, a reversal back below the downtrend line you see a retest of the weekly lows around $1,850.<\/p>\n<\/div>\n<\/div>\n

\n
\n

\u00a0<\/p>\n

XRP<\/h2>\n

Like Ethereum, XRP\u2019s price<\/a> has broken out above an established downtrend line on reasonable volume, indicating further possible upside. In the short-term, bullish momentum could see price test the $0.75 level, where it finds resistance from the 50-day SMA and a horizontal trendline. A convincing break above this indicator could lead to a more substantial advance back to last week\u2019s high around $0.84. Alternatively, a reversal below the 200-day SMA would invalidate the breakout and could trigger a fall down to Tuesday\u2019s low around $0.6770.<\/p>\n<\/div>\n<\/div>\n

[ad_2]
\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

[ad_1] Bitcoin, Ethereum and Doge Forecast Video for 27.07.23 by Tim Smith Leading cryptocurrencies, Bitcoin (BTC), Ethereum (ETH) and Ripple\u2019s XRP (XRP) continued to add modest gains throughout Thursday\u2019s Asian session despite the U.S. Federal Reserve lifting interest rates to a 22-year high on Wednesday. Investors took the glass half full view that the current rate hike cycle may be nearing an end and continue to focus on crypto-specific drivers. \u201cThe Fed announcement doesn\u2019t change the story related to crypto,\u201d Generative Ventures\u2019 Lex Sokalin told CoinDesk. \u201cWe are already in a risk-off environment. Things could maybe get more catastrophic with war or recession, but tech and finance are at a fairly stable compressed valuation, with AI perhaps being an outlier.\u201d Below, we take a closer look at important technical levels worth watching on the charts. Bitcoin Bitcoin\u2019s price has traded flat to moderately higher since Tuesday, oscillating within a broad symmetrical triangle-like pattern. Volumes have been lackluster, indicating apprehension from the bulls. Traders should monitor for breakouts either above or below the triangle\u2019s upper and lower trendlines. Interestingly, the 50-day simple moving average (SMA) aligns closely to the pattern\u2019s top trendline, providing additional resistance at that level around $29,720, while the 200-day MA appears to be adding support near the lower trendline at $29,220. Ethereum Ethereum bulls have shown their horns in mid-week trading, driving the price above a multi-week downtrend line. Impressively, increasing volume backs to move, suggesting a degree of buyer conviction. Throughout Thursday\u2019s Asian session, the price continues to grind higher after a retest of the trendline, paving the way for further gains. A break above the 50-day SMA could lead to an impulsive move to key resistance levels at $1,900 and $1,920. However, a reversal back below the downtrend line you see a retest of the weekly lows around $1,850. \u00a0 XRP Like Ethereum, XRP\u2019s price has broken out above an established downtrend line on reasonable volume, indicating further possible upside. In the short-term, bullish momentum could see price test the $0.75 level, where it finds resistance from the 50-day SMA and a horizontal trendline. A convincing break above this indicator could lead to a more substantial advance back to last week\u2019s high around $0.84. Alternatively, a reversal below the 200-day SMA would invalidate the breakout and could trigger a fall down to Tuesday\u2019s low around $0.6770. [ad_2] Source link<\/p>\n","protected":false},"author":1,"featured_media":26843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-26842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/26842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=26842"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/26842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/26843"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=26842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=26842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=26842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}