Creditbit Price Technical Analysis – CRB/BTC Declines Further

Key Highlights

  • Creditbit price declined further and broke the last low of 0.000135BTC against Bitcoin.
  • There is a steep bearish trend line forming with resistance near 0.000135BTC on the 7-day chart of CRB/BTC (data feed from Coinmarketcap).
  • On the downside, the recent low of 0.000130BTC is providing support, but may be breached soon.

Creditbit price remained under bearish pressure against the US Dollar and Bitcoin. CRB/BTC is now at a risk of further losses below 0.000135BTC.

Creditbit Price Resistance

There was an increase in the bearish pressure on Creditbit price as it broke the last low of 0.000135BTC against Bitcoin. The price failed to recover above the 0.000150BTC level, which ignited a downside move. A new monthly low is formed near 0.00013BTC where buyers protected further losses. Earlier, there was a correction towards the 23.6% Fib retracement level of the last decline from the 0.000161BTC high to 0.000135BTC low. However, there was no substantial recovery, and the price traded towards 0.000130BTC.

The recent low also remains at a risk, and if 0.000130BTC fails to hold, there can be a move towards 0.00012BTC. On the upside, there is a steep bearish trend line forming with resistance near 0.000135BTC on the 7-day chart of CRB/BTC. Moreover, the 23.6% Fib retracement level of the last decline from the 0.000158BTC high to 0.000130BTC low may also act as a resistance. Lastly, the last low of 0.000135BTC is also a resistance.

Creditbit Price Technical Analysis CRB BTC

Looking at the price of CRB to US Dollar, there was a new low below $0.36. The price seems to be trading towards $0.35 and remains at a risk. On the upside, an initial resistance is near $0.38, followed by $0.40.

Looking at the indicators:

Hourly MACD – The MACD for the CRBIT/BTC pair is moving further in the bearish zone.

Hourly RSI – The RSI for the CRBIT/BTC pair is currently well below the 50 level.

Intraday Support Level – 0.000130BTC

Intraday Resistance Level – 0.000140BTC

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.

Source: Newsbtc

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