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Cryptocurrencies price prediction: Bitcoin, Ethereum & Bitcoin Cash - Asian Wrap 31 Dec

Cryptocurrencies price prediction: Bitcoin, Ethereum & Bitcoin Cash - Asian Wrap 31 Dec
FXStreet TeamFXStreet TeamFXStreet

BTC/USD may fall more as daily confluence detector shows lack of strong support levels

BTC/USD fell from $7,386.40 to $7,215.70 this Monday after the bulls took advantage of the market for four consecutive days.

Currently, the price of the asset has increased a bit to $7,216.65 so far this Tuesday. 

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ETH/USD bears take charge this Monday following four straight bullish days

ETH/USD fell from $134.50 to $131.25 this Monday, following four straight bullish days, which say the price rise from $125.15 to $134.50. The price has risen to $131.45 in the early hours of Tuesday after bouncing off support at the 20-day Simple Moving Average (SMA 20) curve. 

BCH/USD trending in an upward channel despite Monday’s bearish action

After encountering resistance at the $212.40 line, the price of BCH/USD fell to $207.90. Since then, the price has gone up by a bit to $210. 

The 50-day Simple Moving Average (SMA 50) curve acts as resistance to the market, while the Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum. 

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