Two Altcoins That Are Trading Near Their All-Time Lows

2020-10-7 21:12

The Serum (SRM) price has broken down from a crucial support level and has been falling since, creating a new all-time low. Meanwhile, Penta (PNT) has done the same, but the possibility of a reversal is higher.

Serum (SRM) – Deviation Above Resistance

SRM has been declining since Sept. 1, when the price reached a high of $3.79. Throughout the fall, the price had been following a descending resistance line, from which it purportedly broke out on Sept 30.

However, the price fell back below the resistance line shortly afterward and fell below the $1.50 support area. This has sent the price towards a new all-time low and into new price discovery.

SRM Chart By TradingView

Cryptocurrency trader @TheEuroSniper stated that he has entered an SRM long in anticipation of a rally, giving targets of $2.25, $2.45, and $2.70 for the ensuing upward move.

However, as seen above, SRM failed to sustain the higher prices and has decreased below the line since.

Source: Twitter

Furthermore, technical indicators do not show any signs of a reversal.

The MACD is negative and decreasing. The RSI is decreasing and is oversold, but has not formed any bullish divergence. The Stochastic Oscillator has rejected a bullish cross and is decreasing.

Therefore, unless the price manages to reclaim the $1.50 area, which seems unlikely, the trend is considered bearish, and lower lows are expected.

SRM Chart By TradingView Penta (PNT) – Falling Alongside Resistance

The PNT price has been falling since June 24, when a high of $1.40 was reached. Shortly afterward, the price began a rapid downward move, following a descending resistance line.

At the beginning of October, the price broke down from the $0.53 support area and proceeded to reach a new all-time low.

Technical indicators on the daily time-frame look more bullish than those for SRM but have not confirmed the beginning of an upward move.

While the MACD is increasing and the RSI has formed bullish divergence (unconfirmed), the Stochastic Oscillator has made a bearish cross and is decreasing.

PENTA Chart By TradingView

Measuring the decline alongside the descending resistance line, it seems that the price is in the process of completing a bearish impulse (shown in blue below), currently trading in wave 5.

Therefore, even if the breakout from the descending resistance line is just a correction, it would be customary for the price to retrace towards the 0.5 – 0.618 Fib levels between $0.87 – $0.99.

PENTA Chart By TradingView

For BeInCrypto’s Bitcoin analysis, click here!

Disclaimer: Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto.

The post Two Altcoins That Are Trading Near Their All-Time Lows appeared first on BeInCrypto.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Time New Bank (TNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.01 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0019941 (-100%)

all-time low higher meanwhile new falling creating

Источник: beincrypto.com

all-time low → Результатов: 126


Stellar Lumen Price Analysis XLM / USD: Collapsing Star

Stellar Lumen has an increasingly bearish short-term trading bias, with the XLM / USD pair slipping towards its all-time trading low The four-hour time frame shows that a bearish triangle pattern breakout is underway The daily time frame shows that a bearish head and shoulders pattern has been triggered Stellar Lumen / USD Short-term price […] The post Stellar Lumen Price Analysis XLM / USD: Collapsing Star appeared first on Crypto Briefing.

2019-8-9 16:17


Bitcoin’s low correlation with other asset classes aids as a portfolio hedge

Cryptocurrency exchange Binance recently released a research report that looked at Bitcoin’s limited correlation with other asset classes and its significantly high volatility. Bitcoin has recorded soaring volatility over the past ten years, especially in 2017, when the price of Bitcoin hit an all-time high of $20,000 from a low of $700, indicating a rate […] The post Bitcoin’s low correlation with other asset classes aids as a portfolio hedge appeared first on AMBCrypto.

2019-8-4 15:18


Indicators showing Bitcoin’s uptrend could be interrupted by a major correction

Although the longer-term indicators point to the beginning of a bullish trend that could take BTC to new all-time highs, the shorter-term timeframes indicate a Bitcoin correction is overdue. Since the low of December 2018 when Bitcoin was trading at $3,130, BTC experienced a strong upswing that has taken its price to almost $14,000, leading investors to believe […] The post Indicators showing Bitcoin’s uptrend could be interrupted by a major correction appeared first on CryptoSlate.

2019-7-2 23:52


OKEx Exec Says Bitcoin to Rocket Past ‘Conservative’ $20,000 Prediction

By CCN: The ongoing bitcoin price rally has more than enough fuel to retest the all-time high of $20,000, according to Andy Cheung, head of operations at Malta-based cryptocurrency exchange OKEx. Cheung called $20,000 a “conservative prediction,” hinting that most speculators are less likely to exit their long positions now that BTC has already rebounded by more than 180% from its low near $3,120 in just 163 days.

2019-5-29 04:30


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru