Creditbit Price Technical Analysis – CRBIT/BTC Under Resistance


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Key Highlights

  • Creditbit price moved down a few points and traded close to the 0.00060BTC level against the Bitcoin.
  • There was a recovery, but a major horizontal resistance at 0.000705BTC formed on the 1-day chart of CRBIT/BTC (data feed from Coinmarketcap) is acting as a hurdle.
  • On the downside, a major support is formed above 0.00060BTC, which holds the key in the near term.

Creditbit price was seen struggling a bit against the US Dollar and Bitcoin, and now CRBIT/BTC is trading below a major resistance at 0.000705BTC.

Creditbit Price Resistance

In the last analysis, we saw how Creditbit price was under a minor bearish pressure around 0.00080BTC against the Bitcoin. The mentioned 0.00080BTC support was very important, and it looks like the price failed to hold it. There was a decline below 0.00080BTC. Later, the price even broke the 0.00070BTC support area to ignite more losses in the near term. Similarly, Creditbit price failed to hold the $1.10 support against the US Dollar and moved down.

It traded below $0.90 once and attempted a test of the $0.80 level. Later, the price found support against both the US Dollar and Bitcoin, and recovered. However, there is a major horizontal resistance at 0.000705BTC formed on the 1-day chart of CRBIT/BTC (data feed from Coinmarketcap). It is acting as a hurdle and preventing gains in the near term above 0.00080BTC. Also, the 61.8% Fib retracement level of the last decline from the 0.00093BTC high to 0.000585BTC low is acting as a resistance.

Creditbit Price Technical Analysis

So, we can say that the price is facing a major resistance around 0.00071BTC. A break above it could take it towards 0.00080BTC. On the downside, the most important support is at 0.00060BTC.

Looking at the indicators:

Hourly MACD – The MACD for the CRBIT/BTC pair is just recovering.

Hourly RSI – The RSI for the CRBIT/BTC pair has managed to move back above the 50 level.

Intraday Support Level – 0.00060BTC

Intraday Resistance Level – 0.00071BTC

Charts from Coinmarketcap

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

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