The massive upward trend of cryptocurrency price which was experienced and seen in 2017 was unnoticed because the people thought that this was the case for each and every day. Due to this reason, the major actors of the World Economic Forum have a questioning about cryptocurrencies in Davos.
However, the traditional investors are not quick in the acceptance of the increasing cryptocurrency clout. They are however asking for more tight regulation on cryptocurrencies. According to the most recent news and information, the Nordea Bank banned owning bitcoin by the employees by date 28 February. Large unions have opposed this move.
The ban of cryptocurrency trading in South Korea had a heavy petition which opposed the move. However, the Korean government was involved in banning the traders from the use of anonymous bank accounts when doing cryptocurrency trading.
However, the classical regulators and also the investors do not have the understanding that these kinds of bans are not likely to dent cryptocurrency popularity.
Bitcoin had been currently facing resistance in improvement even after it fell to the $9,960 levels. The currency investment price $11,443 represents an improvement from last week’s ranking.
However, if the price is not sustained at that level or subjected to improvement, this might subject the cryptocurrency to below $10,000. It might further fall from this to a lower level with time.
Unlike last year’s falls where Bitcoin was involved in high levels of improvement from that, it is currently struggling. With the price of the cryptocurrency quoting below the 20 days EMA and also the 50 days EMA, the trend has still remained.
The downtrend might be involved in reasserting when subjected to levels of $10,000. Therefore, any traders who are eager to buy the cryptocurrency should wait until the trend is favorable for them and the one which would guarantee no losses.
Ethereum has been rising in terms of the prices because t is now above both the 50 days EMA and also the 20 days EMA. Therefore, since the cryptocurrency has been involved in an upward trend, this has been motivating for the traders and is characterized as a positive sign.
The cryptocurrency currently trades at $1,065. Ethereum might be subjected to trading above the $900 level. However, it might face resistance in the $1,160 levels. Therefore, the Ethereum air might become negative only in the situation where it breaks below the levels of $845.
The cryptocurrency might stay at the current level for quite some time. However, we believe that the cryptocurrency will gain its uptrend and gain high prices. Therefore, traders should not trade at the moment to analyze the situation for a few days.
Both the bulls and the bear’s traders have been having so much interest in Bitcoin cash. Therefore, as a result of this, the cryptocurrency has been trading small from 23rd January.
With the current price of $1,659, this represents an improvement from last week’s analysis. The downside trend which was witnessed on 17th January was $1,364.96, and this means that the cryptocurrency has been rising substantially. However, the investors expect it to reach the $2,072 levels to yield profits.
Due to this reason, we do not currently advice traders to trade the cryptocurrency. This is because there is no tradable BCH/USD pair.
Ripple has been involved in funny growth patterns for the past few days and weeks. The price changes on a daily basis for ripple represent a very small percentage.
According to the previous forecast, we made a discussion and a prediction that ripple might stay at the $0.87 and $1.74 levels for a long time. However, due to this, traders should be involved in waiting before trading. It is because it might be safe when ripple breaks the resistance which has been overheard.
The range of IOTA has been in the shrink for the last two days. However, it seems that this cryptocurrency is trying to resume the downtrend which was witnessed a few days earlier.
Being currently at $2.38, this is a fall according to today’s statistics. Since the critical support is set at $1.9323, when subjected to breaking below this point, traders might see a fall to the $1.1 level.
On the other hand, a recovery sign might send a good message to traders when they see the $3.032 price levels. However, when the support holds, we might see the cryptocurrency holding in the same range for some time.
Litecoin has been involved in holding the $175.199 support level. Due to this, its bounce has no effect on the changes in price, and this makes the traders not have any interest in buying the cryptocurrency.
If the support is broken down by the bears, the fall might reach the $140.001 levels. However, the signs of the cryptocurrency breakthrough might be when it reaches the $215 level.
Therefore, aggressive buyers can be involved in the buying of Litecoin at the level of $187 focusing on the target which is $215. However, this trade might be risky.
NEM has been involved in holding the price at the $0.86 levels because the current price is at $0.95.
On the success of the bears, the rice might go below the $0.55 levels like it was on January 16. However, the bulls are attempting to push the cryptocurrency to a high support level.
However, there is no XEM/USD pair which seems good to trade, and therefore, traders are advised to keep off trading this cryptocurrency until a level of $1.21 is achieved.
Cardano has been in the attempt to break the level of $0.00006. However, when this gains success, there might be a resistance level at $0.000069. However, short-term traders can buy the cryptocurrency to achieve a small profit. However, it is a risky trade to indulge in.
Therefore, traders should wait until the level of $0.00006915 has been reached to that they can be involved in the trade. However, when faced the string resistance, it might break down to the $0.000047 and the $0.000049 levels.