Bitcoin price prediction: BTC hovers around $11,800 as bears won't give up - Bitcoin confluence
BTC/USD has been hovering around $11,800 handle after an initial attempt to move above $12,000 barrier during early Asian hours. The p=most popular digital coin is still moving within the long-term upside trend; however, the short-term technical picture looks less inspiring. Inability to settle above the key barrier may signal that Bitcoin bulls are exhausted and may need to more time to regain strength before another assault.
Bitcoin confluence levels
There are a lot of technical levels clustered below the current price, while the path to the North is pretty clear. It looks that that we have a good chance for a bullish scenario, once the coin takes out the above-mentioned $12,000 barrier.
Monero price analysis: XMR/USD regains ground, off the intraday low at $94.14
Monero (XMR) is in the green zone, gaining over 4% of its value on a day-on-day basis. Monero, now the 10th largest digital asset with the current market value of $1.6 billion is changing hands at $95.50 at the time of writing. The coin hit an intraday bottom at $94.14 and has been growing steadily ever since.
Monero’s technical picture
On the intraday basis, XMR/USD is well-supported by $94.00 handle, strengthened by the intraday low. Once it is out of the way, the sell-off is likely to gain traction with the next focus on $93.50. This barrier is created by SMA50 (Simple Moving Average) 1-hour and the middle line of 4-hour Bollinger Band.
Litecoin price analysis: LTC/USD struggles at $90.00
At the time of writing, LTC/USD is changing hands at $90.22. despite some range-bound trading, the coin stays under bearish pressure following a strong sell-off from August 5 high reached on the background of Litecoin’s halving. LTC/USD has recovered from the intraday low of $87.52; however, it is still nearly 3% down on a day-on-day basis.
On the intraday charts, LTC/USD is supported by psychological $90.00. Once it is out of the way, the sell-off is likely to gain traction with the next focus on the recent intraday low of $87.52 strengthened by the lower line of 4-hour Bollinger Band. The next bearish target awaits us on approach to $83.40 (the lowest level since July 28).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Vitalik Buterin slams controversial gambling project ZKasino following scam allegations
Ethereum founder Vitalik Buterin took to Warpcaster, a new type of social network, to condemn ZKasino, a decentralized gambling platform based on Layer 2 Ethereum protocol zkSync.
Starknet jumps 2% after notice inviting specific groups to claim STRK airdrop
Starknet Foundation addressed the groups within the STRK community that were unable to receive the token’s airdrop during the first round. The Layer 2 chain organized an airdrop event in February.
XRP price capped at $0.55 despite retail holdings nearing all-time highs
Ripple price (XRP) failed to break resistance at $0.55 early Wednesday as traders continue to digest Ripple’s recent response to the Securities and Exchange Commission’s (SEC) allegations of illegally selling XRP as a security.
Binance founder Changpeng Zhao could face three-year jail time
US prosecutors are requesting Binance founder and former CEO Changpeng Zhao (CZ) to serve a three-year jail time, according to a Reuters report published Wednesday.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?