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Justin Sun Planning $20M Cash Airdrop and Tesla Giveaway

TRON founder Justin Sun announced that he is planning to do a $20 million free cash airdrop, in addition to a giveaway of one Tesla vehicle, to a random winner. 


$20M Cash Airdrop from Justin Sun

Justin Sun, the founder of TRON (TRX) — the world’s 10th largest cryptocurrency by means of market capitalization — has announced his plans to do a $20 million free cash airdrop.

Prior to the airdrop, however, Sun is also going to give away one Tesla vehicle to a randomly picked winner.

“To celebrate BTT & USDT-TRON success, I am planning a $20m free cash airdrop. Good news – it’s coming, bad news – I may decide to give away more! First, I will randomly pick 1 winner for a Tesla up until 3/27! To apply, follow me and RT this tweet! Simple!”

Apparently, the first phase of the Tesla giveaway will end on March 27 and those who want to participate have to follow Sun on Twitter and retweet his post. So far, it has been retweeted over 29,000 times.

As for the second part of the initiative, which includes the $20m cash airdrop, there’s no additional information shared.

The entire stunt celebrates the success of BitTorrent Token (BTT) and the recent partnership between Tether (USDT) and TRON (TRX). As Bitcoinist reported, Tether is set to be introduced on TRON’s blockchain.

tron trx price

$20M — Why Not?

While $20 million might sound like a lot of money for a giveaway, Justin Sun’s recent moves have brought in a lot more.

BitTorrent had its initial coin offering (ICO) in January through Binance Launchpad. It ended in less than 15 minutes, selling $7.2 million in BTT tokens at $0.00012 a pop. At the time of this writing, BTT trades at $0.00075 — a six-fold increase on any investments made in the digital token during the time of its sale.

It’s also worth noting that, according to the token allocation plan of BitTorrent, 20 percent of the total supply is held by the TRON Foundation, 19.9 percent by the BitTorrent Ecosystem, and 19 percent by the “team.” The total supply of BTT is 990,000,000,000. In other words, approximately 594,000,000,000 tokens are held by entities owned by Justin Sun. At current prices, that’s roughly around $445,500,000.

What do you think of Justin Sun’s $20M cash airdrop and Tesla giveaway? Don’t hesitate to let us know in the comments below! 


Images courtesy of Shutterstock, Twitter.

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Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Tron, Bitcoin SV: Price Analysis, March 4

Prices slumped on Monday, and there are no specific fundamental reasons that may have led to the selloff.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

The market tends to cycle between periods of low and high volatility. After a week of small-price-range action, the range expanded on Monday and the crypto markets decided to move southwards. What has caused this sudden fall? There are no specific fundamental reasons that might have led to this selloff.

One of the possibilities might be the strengthening dollar, which has risen in the past four days. Gold also fell sharply on Friday, as a consequence.

This shows that traders are keen to take on risk. Traders like to keep the assets that are showing a strong uptrend. The United States markets have been on a roll for the past ten weeks. Positive news on the trade deal between the U.S. and China might have encouraged some short-term traders to book profits in cryptocurrencies and shift over to the stock markets.

Although the current fall will dampen sentiment, it does not change the overall structure of most major cryptocurrencies. They remain in a bottoming formation and will continue to be volatile during the period.

BTC/USD

After six days of small-range trading, the range has expanded to the downside, which is a negative sign. Bitcoin (BTC) has broken below the 20-day EMA and is currently close to the 50-day SMA. The downtrend line is also located at this level. This line had previously acted as a strong resistance, so it will now act as a strong support.

A breakdown of this critical support can plummet the BTC/USD pair to the next support at $3,355, and if it also fails to hold, the final support on the downside is $3,236.09. A new yearly low will resume the downtrend.

Conversely, if the price finds support at the current levels, it will again try to rally above $3,900 and reach $4,255. A break out of this critical resistance will suggest that a bottom has been put in place. The next few days are critical. Traders can maintain the stop loss on their long positions below $3,236.09.

ETH/USD

Ethereum (ETH) has broken down of the 20-day EMA and has declined to the 50-day SMA. The failure to bounce off the 20-day EMA is a negative sign. If the 50-day SMA also fails to stem the fall, the next support on the downside is $116.3. Therefore, traders should keep a stop loss of $125 on the remaining long positions.

On the other hand, if the ETH/USD pair rebounds from the current levels, it will try to rise above $145 and reach the critical overhead resistance of $167.32. The pair will pick up momentum above this level. Currently, both of the moving averages are flat, and the RSI is just below the 50 levels. This points to range bound trading in the short-term.

XRP/USD

Ripple (XRP) has turned down below the moving averages. It has again slipped to the support at $0.2950. This is the fourth time the price has fallen to this level.

Repeated retests of a support level increase the probability of a breakdown. If this support cracks, the next level to watch on the downside is $0.27795. The bulls have held this support twice: once in mid-December of last year and again in end-January of 2019.

Hence, this is a critical level. A breakdown of this could plummet the digital currency to the yearly low of $0.24508.

If the buyers step in at the current levels, the XRP/USD pair can move up to $0.33108. A breakout and close above this level is likely to propel the pair to the resistance line of the descending channel, close to $0.40. The traders should protect their long positions with a stop loss below $0.27795.

EOS/USD

EOS has broken below the 20-day EMA and plummeted to the next support of $3.2081. If the bulls fail to defend this level, the drop can extend to the 50-day SMA. The traders can keep their stops at $2.90 on the remaining long positions.

A bounce from the current levels will again try to push the EOS/USD pair above the overhead resistance of $3.8723. The 20-day EMA is flattening out, and the RSI has also dipped close to the neutral zone. This shows a balance between demand and supply.

LTC/USD

Litecoin (LTC) had risen above $47.2460 on March 2, but the bulls could not sustain the higher levels. The price has again corrected to the 20-day EMA, forming a head and shoulders pattern, which will complete on a breakdown and close below the neckline.

The potential breakdown has a pattern target of $32.00. However, $40.4240, the 50-day SMA and the uptrend line can act as important supports.

The 20-day EMA is flattening out, and the RSI has also declined to the midpoint. This shows that the bulls are losing their edge in the short term. But if the LTC/USD pair rebounds either from the 20-day EMA, or from the neckline, it will again try to scale above $50 and prolong its recovery. The traders can keep a stop loss of $40 on the remaining long position.

BCH/USD

Bitcoin Cash (BCH) could not break out of the 20-day EMA for the past five days, which attracted selling. The price has broken down of the 50-day SMA, which is a bearish sign. It can now drop to $116.79, and below it to $105. Traders who are holding long positions can keep their stop loss at $116.

The BCH/USD pair will prove us wrong if it reverses direction from the current levels and breaks out of $140. Until then, every rise will be likely to attract selling. The RSI is in the negative zone, but the moving averages are still flat, which points to a likely consolidation.

BNB/USD

Binance Coin (BNB) closed above $12 on March 2, thereby triggering our buy suggested in the previous analysis. However, the close above $12 attracted profit booking by the bulls that have dragged the price back into the critical support zone of $10–$12.

Both of the moving averages are sloping up, and the RSI is in the positive zone, which shows that the trend is up. The first support on the downside is the 20-day EMA, and below it $9.2450296. If these support levels fail to hold, the slide can extend to the 50-day SMA.

Conversely, if the BNB/USD pair bounces off the 20-day EMA and breaks out of $12, it could move up to $15, and above it to $18. Therefore, traders who have entered long positions can keep their stop loss at $9.

XLM/USD

Stellar (XLM) tried to break out of the overhead resistance at $0.09285498 on March 3, but failed. Currently, the price has turned around and broken below the moving averages. A break below $0.08184371 can result in a retest of the yearly low.

The 20-day EMA is flat, and the 50-day SMA is sloping down. The RSI has also slipped below the 50 levels, which shows that the sellers are at an advantage.

Our bearish view will be invalidated if the XLM/USD pair turns around from the current levels and breaks out of $0.10. The pair has been a huge underperformer, as it did not participate in the recent pullback. This shows a lack of interest among the market participants to own this coin. We shall wait for a trend reversal before recommending a trade in it.

TRX/USD

Tron (TRX) has broken down of the support at $0.02306493, and is close to the next support at $0.02113440. If this level breaks, the next support to watch on the downside is  $0.01830000. The moving averages have completed a bearish crossover, which is a negative sign.

If the TRX/USD pair holds above $0.01830, it will be likely to extend its stay in the range and might offer us an opportune trade. Nonetheless, if the bulls fail to defend the support at $0.01830, a deeper fall towards the yearly low will become probable.

Our bearish view will be invalidated if the price turns around from the current levels and rallies above both of the moving averages, as well as $0.02815521.

BSV/USD

Bitcoin SV (BSV) has failed to hold the moving averages. It is now threatening to break below the support at $65.031. This shows a lack of buying interest at higher levels.

The immediate support zone on the downside is between $58 and $60. If the BSV/USD pair plunges below this zone, a fall to the lifetime low at $38.528 is probable. With both of the moving averages sloping down and the RSI in the negative territory, the path of least resistance is to the downside.

Conversely, if the cryptocurrency holds above the supports, it will again attempt to rise above $77.035. If successful, it can move up to $102.580, and above it to $123.980. Therefore, we might suggest long positions if the price sustains above $78. Until then, we cannot find any reliable buy setups.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, Binance Coin, Cardano: Price Analysis, Feb. 25

Endorsement of blockchain from heads of state shows that the time of the technology has come.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

A bottom formation after a long bear market is not a linear process. At various intervals, we are likely to witness spurts of buying and selling as the bulls and the bears attempt to establish their supremacy. After a smart recovery from the lows, when it looked like the bears had surrendered, came the plunge on Feb. 24, that wiped off about $15 billion from the total market capitalization within a few minutes.

Such selling is not always based on fundamental news or events. Technical factors like profit booking near a stiff resistance and initiation of short positions by aggressive bears can bring about such a sharp fall. While we expect volatility in the bottoming process, we are keeping our focus on the positive fundamental developments. The longer the markets disregard the fundamentals, the stronger the eventual breakout will be.

After Venezuela, now Russia plans to launch an oil-backed cryptocurrency. OPEC along with Russia are exploring options for settling their energy dealings in crypto instead of Petrodollars. If this happens, it will give a big boost to crypto markets. When a head of state endorses blockchain technology and recommends it to the leaders of other nations, it shows that the time of this technology has come.

BTC/USD

The recovery in Bitcoin (BTC) that started from $3,355 could not scale above the critical resistance of $4,255. The bears swung into action on Feb. 25 and pushed the price back down to the 20-day EMA. The downtrend line, which had previously acted as a stiff resistance, should act as a strong support now.

If the price bounces from current levels, the bulls will again try to break out of $4,255. If successful, it will indicate a double bottom formation that has a pattern target of $5,273.91. The traders can protect their long positions with a stop loss just below $3,236.09.

Contrary to our assumption, if the bears sink the BTC/USD pair below the downtrend line, it can again correct to $3,355. If the support fails to hold up, the next support on the downside is at $3236.09, below which the downtrend will resume.

Both the moving averages are flat and the RSI is close to the center, which points to a consolidation in the near term. The price action of the next couple of days will give us better insight on whether lower levels are in the offering or is this just a shakeout of the weaker hands.

ETH/USD

Ethereum (ETH) took a nosedive on Feb. 24 after rising above the overhead resistance of $167.32. We hope traders booked profits on half of their long positions as we had suggested.

The decline on Feb. 24 wiped off gains of the past six days. This shows the extent of the carnage. The ETH/USD pair is trying to bounce off the critical support at $134.5. The 20-day EMA is also nearby, hence, this level assumes significance.

A failure to hold this level will indicate weakness and will attract further selling. Below $134.50, a drop to $116.30 is probable. Therefore, traders can keep a stop loss of $125 on the remaining half position.

We do not want to close the position at current levels, because if the bulls succeed in defending the support, they will make another attempt to break out of $167.32.

XRP/USD

Ripple (XRP) closed above the overhead resistance of $0.33108 on Feb. 23, thus triggering our buy recommendation. However, the very next day, the digital currency turned around and plunged below both the moving averages. It is currently attempting to hold the immediate support at $0.29282.

Currently, both the moving averages are flat and the RSI is just above the 50 level. This shows a balance between the buyers and the sellers. Traders can keep their stop loss just below $0.27795.

If the XRP/USD pair finds support at current levels, it will again try to break out of $0.33108. However, if it breaks down of $0.29282, it can slide to the next support at $0.27795, which should hold. If we do not find signs of buying within the next couple of days, we might suggest to close the position.

EOS/USD

EOS reached our target objective of $4.4930 on Feb. 23. However, it did not stay at that level and quickly turned around. The fall was sharp, as it easily broke below the support of $3.8723. We hope traders would have locked in profits on half of their long positions as we had recommended in the previous analysis.

Currently, the EOS/USD pair is trying to hold the support at the 20-day EMA, which is sloping up. If successful, it will again try to break out of $3.8723.

However, if the bears breakdown of the 20-day EMA, the fall can extend to the 50-day SMA. If this support also breaks, the slide can reach the critical support at $2.1733. Therefore, traders can keep a stop loss of $2.90 on the remaining open position.

LTC/USD

Litecoin (LTC) turned around from just above $53 on Feb. 24. The fall was sharp, and the support at $47.2460 was taken out instantly. We hope the traders had trailed the stops on half of their long position closely and locked in profits as suggested by us.

Currently, the bulls are trying to hold the 20-day EMA. If successful, the LTC/USD pair will again attempt to rise above $47.2460. However, if the support gives way, the pair can dive to the 50-day SMA. If this support also breaks, the trend will turn in favor of the bears. Hence, traders can keep their stop loss on the remaining position at $40.

Both the moving averages are flattening out and the RSI has dipped close to 50. This increases the probability of a range formation in the short-term.

BCH/USD

Bitcoin Cash (BCH) attempted to extend its recovery on Feb. 23 but the sharp fall on Feb. 24 took it back to the moving averages.

Currently, the bulls are attempting to hold the moving averages, which are flat. The RSI is also close to 50. If the support at the moving averages holds, the pair can consolidate between $125 and $160 for a few days.

Our view will be negated if the bears sink the BCH/USD pair below the moving averages. Such a move will result in a fall to $105. Traders who are long can hold their positions with the stop at $116.

XLM/USD

After rising above the 50-day SMA on Feb. 23, Stellar (XLM) reversed direction and plunged below the 20-day EMA on the next day. If the price sustains below the 20-day EMA, it can decline to $0.0750 and below it to the low of $0.07256747.  

Previous strong resistances act as supports after they are crossed. Thus, the downtrend line is likely to act as a strong support. If the XLM/USD pair bounces off this support, it will again attempt to scale the 50-day SMA.

Both the moving averages are flattening out and the RSI is close to the neutral zone. Hence, we anticipate a consolidation in the next few days. As the pair is still close to its yearly lows, we shall wait for a trend reversal before proposing a trade in it.

TRX/USD

Tron (TRX) reached the overhead resistance at $0.02815521 on Feb. 24 but turned down sharply from it. The fall triggered our suggested stop loss on long positions at $0.0230.

Currently, the bulls are again attempting to scale above the moving averages and the downtrend line. If successful, the TRX/USD pair will make another attempt to rise above the overhead resistance.

On the other hand, if the price breaks down and sustains below $0.02260516, it can slump to $0.02113440 and below it to $0.01830000. The moving averages have completed a bearish crossover and the 20-day EMA has started to turn down. This shows that the bears have the upper hand in the near term.

BNB/USD

Binance Coin (BNB) is facing resistance in the zone of $10 to $12 as we have been mentioning. The price dipped back from close to $12 to just below $10 on Feb. 24. Nevertheless, we like the way the price bounced off the 20-day EMA, which shows that the bulls are buying on dips.

With both the moving averages sloping up and the RSI in the positive territory, the trend remains up. If the price sustains above $10, we anticipate the digital currency to consolidate between $10 and $12 for a few more days.

Our view will be invalidated if the BNB/USD pair plummets below the 20-day EMA. That can lead to a fall to the next support at the 50-day SMA. A breakdown of the 50-day SMA will tilt the advantage in favor of the bears. We shall wait for a breakout above $12 before recommending a trade in it.

ADA/USD

Cardano (ADA) came close to the overhead resistance of $0.051468 but could not cross it. Strong selling at this resistance dragged the price back to the moving averages. The moving averages are fat and the RSI is also at the midpoint. This suggests that the consolidation is likely to continue for a few more days.

We shall turn positive on a breakout of the overhead resistance. Another probable trade is to buy closer to the bottom of the range, after a strong bounce from it. Such an entry will help the traders buy closer to a strong support. However, we shall suggest this trade only after the ADA/USD pair rebounds sharply from the key support of $0.036815. We do not find any buy setups at current levels.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Crypto Investment Services Firm BitGo to Add Support for TRON

Institutional cryptocurrency investment services firm BitGo is planning to add support for Tron.

Institutional-grade cryptocurrency investment services firm BitGo will provide wallet and custody support for cryptocurrency Tron (TRX), according to a press release shared with Cointelegraph on Feb. 20.

Per the release, BitGo will add support for TRX later this year, making it available for institutional investors. TRX thus joins over 100 other digital currencies already supported by BitGo.

BitGo is reportedly the world’s largest processor of on-chain Bitcoin (BTC) transactions, processing 15 percent of all global Bitcoin transactions and $15 billion of cryptocurrencies per month. The company’s wallet service has more than $2 billion in assets under management.

Yesterday, BitGo revealed plans to offer crypto insurance for digital assets held on its Business Wallet service and custodial offering through Lloyd’s of London. BitGo crypto insurance could purportedly be paid out following the loss of private keys caused by a hack or a theft by third parties or insiders, or in the case of physical loss or damage of private keys.

In January, BitGo partnered with Bitcoin over-the-counter (OTC) trading platform Genesis Global Trading to allow clients trading cryptocurrency directly from BitGo custody. The partnership allows BitGo custody clients to execute internal settlements on the same day, powered by Genesis’ high liquidity based on a large network of trading partners.

TRX — which is currently the ninth major cryptocurrency by market capitalization —  is trading around $0.025 at press time, having lost 1.69 percent over the last 24 hours, according to data from CoinMarketCap. The altcoin’s market cap is around $1.6 billion at press time, while its daily trading volume is around $144 million.

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Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, February 15

Some experts predict the downfall of tokens with no clear use cases, while touting Bitcoin as a clear winner in the long run.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Market data is provided by the HitBTC exchange.

United States banking giant JPMorgan Chase, whose CEO has been one of the most vocal critics of cryptocurrencies, has announced the launch of its own cryptocurrency, named “JPM Coin.” This clearly shows that many criticize the technology as they do not understand it, but once they realize its potential, they readily become a part of the space.

As the market matures, it will differentiate between cryptocurrencies. Token that do not have anything concrete to offer will fall by the wayside as others with a strong use case will reward their investors. Barry Silbert, CEO and founder of Digital Currency Group and Grayscale Investments, believes that most digital tokens “will go to zero.”

Niall Ferguson, British economic and financial historian and author of 14 books, said that Bitcoin is likely to be viewed as digital gold because its performance is not correlated to any other asset class. However, he does not see cryptocurrencies replacing fiat currencies completely.     

With most news turning positive, is it a good time to buy a few of the major cryptocurrencies? Let’s find out.

BTC/USD

Over the past week, Bitcoin (BTC) has been giving up ground. Though the fall is not sharp, it shows a lack of demand at current levels. Both the moving averages have turned flat and the RSI is in the neutral zone, which points to a likely consolidation.

BTC/USD

Our view of a range bound trading action will be invalidated if the BTC/USD pair breaks out of the downtrend line. Above the downtrend line, a rally to $4,255 is likely. We expect a strong resistance at this level. A breakout of $4,255 will complete a double bottom pattern that has a target of $5,273.91.

If the bears sink the digital currency below the 20-day EMA, a drop to $3,355 and below it to $3,236.09 is possible. A break of the yearly low will resume the downtrend and can result in a decline to $3,000 and below it to $2,600.

We shall wait for the price to sustain above both the moving averages and the downtrend line before proposing a trade in it.

ETH/USD

Ethereum (ETH) continues to face resistance at the 50-day SMA. It has become a major roadblock for the bulls that needs to be crossed quickly, else we anticipate a fall to $116.30 and if that gets broken, a retest of $103.20.

ETH/USD

Both the moving averages are flat and the RSI is just above the midpoint, which points to a consolidation. The ETH/USD pair will pick up momentum on a breakout and close (UTC time frame) above $134.50.

The next target on breaking out of $134.50 is $167.32. Considering the large target potential, we suggest traders maintain their stops at $100. We might recommend closing the position if the pair turns down and sustains below $116.30.

XRP/USD

Ripple (XRP) has been finding support close to $0.295 for the past three days, but the bulls are struggling to break out of the downtrend line.

XRP/USD

A strong breakout of the downtrend line will carry the XRP/USD pair to the next overhead resistance of $0.33108. The 50-day SMA is also located just below this level. Hence, we expect this to act as a major roadblock. However, if the bulls scale this level, the probability of a rally to $0.40 increases. Therefore, we might propose long positions on a close (UTC time frame) above $0.33108.

Conversely, if the price turns down from the current levels or from one of the overhead resistances, a retest of $0.27795 is possible. A break of this level will result in a fall to the yearly low of $0.24508.

EOS/USD

EOS is trying to bounce from just above $2.70. The bulls will again attempt to break out of the overhead resistance zone of $3.05 to $3.2081. If successful, a rally to $3.8723 is probable. The 20-day EMA is turning up and the RSI is also in positive territory, which shows that the path of least resistance is to the upside. Hence, traders can keep the stop loss on long positions at $2.30.

EOS/USD

If the price struggles to break out of the overhead resistance zone, partial profits can be booked closer to $3.20 and the remaining can be held with the stop at breakeven.

On the contrary, if the EOS/USD pair turns down from current levels, it can take support at the moving averages, failing which the drop can extend to the critical support at $2.1733. A break of this support can result in a plunge to the yearly low of $1.55.

LTC/USD

Litecoin (LTC) found support close to $40. The bulls are currently trying to resume the uptrend and break out of the overhead resistance of $47.2460. If successful, the next target to watch on the upside is $56.910.

LTC/USD

Contrary to our assumption, if the LTC/USD pair fails to breakout of $47.2460, it might turn down and retest the support at 20-day EMA. Therefore, traders can book partial profits closer to $47 if they find the pair struggling to move up.

A break below the 20-day EMA will weaken the momentum and plunge the digital currency to the 50-day SMA. The trend will turn negative if the bears break below $27.701. Traders who are long can trail their stops higher to $36. The stops can be moved up again as the price inches towards $47.2460.

BCH/USD

The range in Bitcoin Cash (BCH) has shrunk as it waits for a decisive move by either the bulls or the bears. Volatility is likely to expand soon, but it is difficult to predict the direction of the move.

BCH/USD

If the tight range resolves to the upside, the bulls will face resistance at the 50-day SMA and above it at $141. If the price sustains above $141, it will be a bullish sign, hence, we recommend long positions on a close (UTC time frame) above $141. The target levels to watch on the upside are $175 and above it $220.

On the contrary, if the BCH/USD pair breaks down, the next support is $105. Below this level, the decline can accelerate and retest the low at $73.50.

TRX/USD

TRON (TRX) has broken below the 50-day SMA and has moved lower in the past two days. The moving averages are on the verge of a bearish crossover, which indicates weakness in the short-term. Therefore, traders can keep a stop loss of $0.023 to protect their long positions.

A breakdown of $0.023 can result in a decline to the next support at $0.02113440 and if this level also cracks, the final support is $0.0183. Below this level, a drop to the yearly low is probable.

TRX/USD

Conversely, if the TRX/USD pair finds support at the current levels and rises above both the moving averages, it will again attempt to break out of the critical resistance at $0.02815521. If successful, the pair is likely to start a new uptrend that can carry it to $0.038 and $0.04.

XLM/USD

First signs of buying in Stellar (XLM) near the lows. The bulls are attempting to scale the 20-day EMA. If successful, a move up to the downtrend line and above it to the 50-day SMA is possible. We like that the RSI is showing strength and is pointing towards a pullback. However, as the price is still near the lows, we will avoid suggesting a trade in it.

XLM/USD

If the XLM/USD pair turns down from one of the overhead resistances, the bears will again try to break down of the low at $0.07256747. If the low is broken, the next support is at $0.05795397. We shall wait for a new buy setup to form before recommending a trade.

BNB/USD

Binance Coin (BNB) corrected for three days and found buyers close to the 20-day EMA. It is currently attempting to resume the up move and break out of the overhead resistance at $10. If successful, a rally to $12 is probable. The range between $10–$12 is a major hurdle, hence, the cryptocurrency might remain in this range for some time. On clearing this hurdle, a rally to $15 and above it to $18 is possible.

BNB/USD

Contrary to our expectation, if the bears defend the overhead resistance and force the BNB/USD pair to turn down, the 20-day EMA will again act as a support. Below this, the next support is at the 50-day SMA and if that breaks, the final support is the uptrend line. If these supports fail to curb the fall, the trend will change from bullish to range bound.

BSV/USD

After failing to break out of the 20-day EMA, Bitcoin SV has turned down and has broken below $65.031. Its next support is in the $58.072–$57 zone. If this support also fails to hold, a drop to the yearly low of $38.528 is probable.

BSV/USD

On the other hand, if the BSV/USD pair turns around from one of the above-mentioned support levels, it will again try to break out of 20-day EMA. The bulls have not scaled the 20-day EMA for the past month and a half. Hence, a break out of it will be a sign that the downtrend is coming to an end.

We shall wait for the price to break out of $71.412 and the 50-day SMA before turning positive. Until then, we suggest traders remain on the sidelines.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.