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Different cryptocurrencies that are trending these days:

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Crypto Business World

CBW -External Analyst

INDIA

Nov, 03 2020

Nov, 03 2020

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Bitcoin has been on the top notch but recently it has been facing some exhaustion signs of more than $13,200 which of course required few corrections that can even drag out the altcoin to lower down. Currently on the list of PayPal’s crypto adoption which JPMorgan had recently realized clearly stated that Bitcoin can offer some considerable upside. This means if it competes for more than better with gold as an alternative option for currency then there is still a scope 


As per the analysis there are basically three reasons that contributes in the view of lasting bullish for the Bitcoin. Talking of which the cryptocurrency growth utility, gold and bitcoin valuation gap and even the millennials that prefer bitcoin on the gold in long term are present. Even the report further states that initiations are slowly realizing there is a huge scope for the cryptocurrency and are quite willing to take a U turn for their earlier apprehensions. There is no doubt that investors want to know if bitcoin can create on the current momentum of bullishness and then go ahead with their journey northward. 


BTC/USDThis one is an up-trending option for which the price has sustained for more than the leveof breakout which is of $12,460 for some time. The rising 20 day moving average $11,938 while the relative strength index is an overbought sone that advises the commands of the bulls.


XRP/USD: The uptrend of XRP has not yet started but it has created an inverse pattern of head and shoulders which will accomplish as the price breaks out and even closes more than the overhead resistance with $0.26. 


XLM/USD: XLM is the Stellar Lumens which has risen more than the overhead resistance at $0.084584 in some time. However, the bulls were not able to capitalize the movement and start with a new uptrend. This advises that bears are defying the resistance. 


ETH/USD: This currency surely has broken more than the range of $308–$396. This advises that usually bulls are the one overpowering the bears. Even if the bears may have hiked up with the move at $420, they are still not able to pull down the price to less than $396. 


LTC/USD: The completion of Litecoin (LTC)’s pattern of head and shoulder was a known one since it broke out and closed for more than the overhead resistance $51.50. the setup comes with a target objective of $61.50. However, if the level gets crossed up then the up move shall extend to $64.  


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Crypto Business World

CBW - External Analyst

INDIA

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