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    Ethereum steadies as investors assess South Korean developments

    Ethereum steadied on Tuesday after the death of a South Korean official responsible for monitoring and to some degree combating cryptocurrencies in one of the largest such markets in the world.

    At Bitstamp, ethereum inched down to $937 from the opening of $939, with an intraday high at $958, and a low at $927.

    Ethereum rose 2.5% on Monday on improved risk appetite in the markets and strong recovery for cryptocurrencies.

    Ethereum scored a 12.5% profit last week, the first in three weeks away from two-month lows.

    The market value of cryptocurrencies jumped $110 billion last week, however it is still about $320 billion away from the record $830 billion reached in January.

    News outlets reported that a chief regulator of cryptocurrencies in South Korea was found dead in his home due to what appears to be a heart attack.

    The South Korean police is still investigating Jong Jon’s death, who worked in the government policies coordination office, and who’s responsible for crafting regulations to control the fast-growing cryptocurrency market.

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    RIPPLE (XRP) Midday Analysis 20-02-2018

     

    • Ripple price is struggling to move higher and is currently trading below $1.0850 against the US dollar.
    • There is a major contracting triangle pattern forming with resistance at $1.0700 on the hourly chart of the XRP/USD pair.
    • The pair has to move above $1.0700 and the 100 hourly simple moving average to move further higher.

    Ripple price is slowly moving away from the bullish zone against the US Dollar and Bitcoin. XRP/USD must break above $1.0700 and the 100 hourly SMA to avoid further declines.

    Ripple Price Upside Hurdle

    There was no upside break above $1.12 in Ripple price during the past three sessions against the US Dollar. The price started a slow and steady downside move and traded below $1.10. It also traded below the $1.0750 support and the 100 hourly simple moving average. The last upside move not sustainable above the 50% Fib retracement level of the last drop from the 1.1510 swing high to $1.0050 swing low.

    There was no hourly close above the $1.10 level, which ignited a downside wave. At the moment, there is a major contracting triangle pattern forming with resistance at $1.0700 on the hourly chart of the XRP/USD pair. The pair is approaching a short-term break either above $1.0700 or below $1.0400. On the upside, above $1.0700, the price could test the 61.8% Fib retracement level of the last drop from the 1.1510 swing high to $1.0050 swing low at $1.0945. Above the mentioned $1.0945, the price may perhaps move above the $1.10 level.

    On the other side, if the pair fails to move above the 100 hourly SMA, it could decline back towards $1.0200 in the near term.

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    ETHEREUM (ETH) Midday Analysis 20-02-2018

     

    Ethereum price keeps fluctuating near 958.16 level without breaching it until now, and the EMA50 keeps pushing the price from below, keeping the bullish trend scenario valid for today, waiting for breaching the mentioned level to confirm the extension of the bullish wave towards our next positive target at 1068.17, taking into consideration that breaking 848.14 level will stop the expected rise and puts the price under the negative pressure again.

     

    Expected trading range for today is between 900.00 support and 1000.00 resistance

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    BITCOIN (BTC) Midday Analysis 20-02-2018

     

    Bitcoin price keeps its stability above 1100.00$ barrier, while the EMA50 keeps providing positive support for the price, we will keep preferring the bullish trend in the upcoming sessions conditioned by its stability above 10748.00 level, reminding you that our next main target reach to 12852.65.

     

    Expected trading range for today is between 10748.00 support and 12852.65 resistance

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    RIPPLE (XRP) Morning Analysis 20-02-2018

    • Ripple price after an upside move faced a strong resistance at $1.1500 against the US dollar.
    • There was a break below a connecting bullish trend line with support at $1.0800 on the hourly chart of the XRP/USD pair.
    • The pair is currently holding the $1.00 support, but it is struggling to move higher.

    Ripple price made a downside move recently against the US Dollar and Bitcoin. XRP/USD must stay above the $1.0000 support area to avoid further declines.

    Ripple Price Resistance

     

     

    The tight range continues to dominate Ripple price trades as appears on the above chart, thus, no change to the bullish trend scenario that depends on the price stability above 0.89 level, noting that stochastic shows oversold signals now, waiting to motivate the price to resume the bullish trend that targets testing 1.35 level mainly.

    There was a substantial recovery above $1.10 this past week in Ripple price against the US Dollar. The price traded above the $1.12 and $1.14 level, but it could not break the $1.15 resistance. It formed a high at $1.1508 and later started a downside move. It declined and broke the $1.10 support area to settle below the 100 hourly simple moving average.

    During the downside, there was a break below a connecting bullish trend line with support at $1.0800 on the hourly chart of the XRP/USD pair. However, the downside move was protected by the $1.0000 support. A low was formed at $1.0055 before the price started an upside correction. It traded above the 23.6% Fib retracement level of the last decline from the 1.1508 high to $1.0055 low. However, the upside move was protected by the $1.06 level and the 100 hourly SMA. On the upside, there is a bearish trend line with resistance at $1.0700 on the same chart.

     

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    ETHEREUM (ETH) Morning Analysis 20-02-2018

    • ETH price is slowly moving higher, but it is currently facing sellers near $940 against the US Dollar.
    • There is a connecting bearish trend line forming with resistance at $940 on the hourly chart of ETH/USD.
    • The pair is currently just above the 100 hourly simple moving average and it remains supported near $900.

    Ethereum price is slowly gaining pace against the US Dollar and Bitcoin. ETH/USD needs to break the $940 resistance to trade further higher.

    Ethereum Price Trend

     

     

    Ethereum price fluctuates around 958.16 level now, and the price gets continuous positive support by the EMA50, reinforcing the chances of breaching the mentioned level followed by opening the way to head towards 1068.17 level that represents our next main target.

    There is also a connecting bearish trend line forming with resistance at $940 on the hourly chart of ETH/USD. The pair is also facing sellers near the 61.8% Fib retracement level of the last decline from the $970 high to $895 low. However, the price is currently just above the 100 hourly simple moving average, but it has to gain momentum above $940 for more gains. A break above the $940 resistance could open the doors for more upsides toward the $970 level.

    On the downside, an initial support is at $930 and the 100 hourly SMA. Should there be a break below $925, the price could move back towards $900. The overall price action is positive, but the price has to move above $940 to remain in the bullish zone.

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