Crypto Market - Asian Session Wrap - 23rd January 2020
Thu, 23 Jan 2020, 06:58 am UTC
Crypto Markets bleed in the Asian session today. Major crypto pairs trade in the red. BTC/USD down 1.51% at 8528.66, ETH/USD was down 2.55% at 163.43 and LTC/USD was down 3.12% at 56.28 at 06:15 GMT.
Top Losers/ Gainers:
IOT/USD (Bitfinex) - down 5.83% at 0.2342, session high - 0.2492 and session low - 0.2310
BTG/USD (Bitfinex) - down 5.01% at 10.325, session high - 10.718 and session low - 10.179
ETC/USD (Coinbase) - down 5.35% at 8.840, session high - 9.350 and session low - 8.710
Major Crypto - Daily Outlook:
BTC/USD eyes 21-EMA support at 8318
(Coinbase) BTC/USD intraday bias is bearish. 'Death Cross' (bearish 50- DMA crossover on 200-DMA) dents upside. Oscillators in neutral and biased lower. 5-DMA has turned and the pair is on track to break below resistance turned support (trendline) at 8390. Dip till 21-EMA at 8314 likely.
ETH/USD extends weakness below 200H MA
(Coinbase) ETH/USD is extending weakness below 200H MA. Bias has turned bearish for the near-term. Shorter term moving averages on the GMMA indicator are turning south. The pair eyes 110-EMA support at 159.51. Further weakness will see test of daily cloud at 154.26.
LTC/USD track Bitcoin prices lower
(Coinbase) LTC/USD briefly clips under 56 mark. The pair is set to end 4-week winning streak as near-term bias is shifting in support of bears. Price action has failed to hold break above 5-DMA. Dip till 110-EMA at 53.40 likely.
XRP/USD bulls fail to capitalise previous session 'Dragonfly Doji'
(Kraken) XRP/USD set to extend grind lower as pair remains capped inside the daily cloud. Price failed to break above and have slipped below 5-DMA. Drag till 21-EMA support at 0.2233 likely. Focus on the potential 'Death Cross' on the hourly charts for further weakness.
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