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Bitcoin, Ripple & TRON - American Wrap: 11/19/19

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Bitcoin, Ripple & TRON - American Wrap: 11/19/19

BTC/USD Technical Analysis: Hourly Chart Shows Selling Momentum Is Slowing

There has been some serious selling momentum in the BTC/USD pair and the hourly chart below shows it.

There has been an acceleration lower past the descending wedge pattern and the bottom of the pattern could provide some resistance.

With this extra downside momentum, the market reached an extremely oversold level and now the momentum is wearing thin.

The RSI divergence shows the market is making a lower low wave pattern but the RSI indicator made a few higher lows.

Ripple's XRP Technical Analysis: XRP/USD Smashes A Critical Demand Zone

Ripple's XRP price is trading in the red by some 2.35% in the session on Tuesday. 

XRP/USD bears have breached a critical price zone around the $0.2500 territory. 

Next major area of interest now is the $0.2400-0.2300 range.

TRX/USD Technical Analysis: The Structure Is Looking Better Than Some Of The Other Major Cryptos And Altcoins

TRX/USD is holding above the main support zone of 0.01744.

While most of the other altcoins and major crypto pairs are breaking wave lows, TRON is holding above the aforementioned level.

The other key consideration is the trendline connecting the two higher lows. It matches up closely to another support at 0.01589.

Image Sourced from Pixabay

Posted-In: BitcoinCryptocurrency News Forex Global Markets Tech General

 

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