Price Analysis of BTC/USD and ETH/USD
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Price Analysis of BTC/USD and ETH/USD

January 28, 2020      Sandeep Kumar Mishra

For BTC against the USD, buyers were able to defend the 20-day EMA support at $8,371 and it is positive for the cryptocurrency. Bitcoin will try to return to the upside and surge over the overhead barrier at $9,198.61. If the surge succeeds, the price could attain $10,360.89.

A look at the chart of BTC against the USD shows that the moving averages are steadily sloping up and the RSI is in positive zone, suggesting that buyers are in control.

The bullish forecast will not hold following the sinking and sustenance of the price beneath the 20-day EMA. The price may decline to the crucial support at $7,856.76 if it moves beneath the 20-day EMA. Below the critical support is the 50-day SMA at $7,752. Therefore, we look forward to the bulls defending this area in an aggressive manner.

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Things will become negative for the pair if the price breaks down the 50-day simple moving average.

As for ETH against the USD, the pair was able to rebound off the 20-day EMA. There is a likelihood that it will attain the overhead barrier at $173.841, which may act as a rigid barrier. Nevertheless, the buyers are favored since the 20-day EMA is sloping up and the RSI in the positive area.

The ability of the buyers to maintain a price level over $173.841 could bring on a rally to $197.75. We look forward to a rigid barrier at $197.75.

The said bullish perspective will be invalidated following the turning down of the price from the overhead barrier and declines beneath the support area between $157.5 and $151.829.

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Sandeep Kumar Mishra
Sandeep Kumar Mishra

Sandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He has a strong mix of skills in the areas of computer networking, cryptography, algorithms, and data structures and specializes in ERC20 tokens. Lately, he is taking a lot of interest in blockchain-powered AI solutions, about which he is also reading and writing extensively. He has to his name dozens of deeply researched articles about cryptocurrencies, blockchain, AI, and IoT. Apart from that, he loves to keep track of the latest trends in social media and digital marketing space. Also, as a huge proponent of blockchain and cryptocurrencies, Sandeep tries to deliver all the latest cryptocurrency news to ardent crypto supporters like yourselves. If you like his content, feel free to follow him on LinkedIn.