Technical Analysis and Outlook
The granddaddy coin didn't draw in buyers at much higher levels at around $6500. It turned down from there forming Mean Resistance $6503 and easily moving lower. This is a sign of weakness, while the next stop is a fall to Mean Support $6268.
A break below $6268 will undoubtedly endanger the critical support level of Key Support $6134, which was formed on Aug 10, 2018. Any sort of break down below this support may lead to a sharp liquidation of long positions, pulling the crypto to Aug Low $5900 and beyond.
In the event the bulls will support Mean Support $6268 level, the key crypto currency can prolong its stay in the trading range of $6268 to $6503 for a handful of trading sessions.
The granddaddy coin didn't draw in buyers at much higher levels at around $6500. It turned down from there forming Mean Resistance $6503 and easily moving lower. This is a sign of weakness, while the next stop is a fall to Mean Support $6268.
A break below $6268 will undoubtedly endanger the critical support level of Key Support $6134, which was formed on Aug 10, 2018. Any sort of break down below this support may lead to a sharp liquidation of long positions, pulling the crypto to Aug Low $5900 and beyond.
In the event the bulls will support Mean Support $6268 level, the key crypto currency can prolong its stay in the trading range of $6268 to $6503 for a handful of trading sessions.