- Creditbit price remained above a short-term support area at 0.000158BTC against Bitcoin.
- There is a range pattern forming with resistance near 0.000168TC on the 7-day chart of CRB/BTC (data feed from Coinmarketcap).
- On the downside, the range support is around the 0.000158BTC level, acting as a barrier for declines.
Creditbit price started trading in a range against the US Dollar and Bitcoin, and now CRB/BTC is forming a decent support around the 0.000158BTC level.
Creditbit Price Resistance
There was hardly any action in Creditbit above 0.00017BTC against Bitcoin. The price after a decline below 0.00016BTC started trading in a range and consolidating losses. There is a clear range pattern forming with resistance near 0.000168TC on the 7-day chart of CRB/BTC. The stated range support and 0.00017BTC are major resistances for an upside move in CRB.
The 0.00017BTC level also coincides with the 23.6% Fib retracement level of the last decline from the 0.00022BTC high to 0.000158BTC low. A break above the range resistance and 0.000170BTC is needed for CRB buyers to gain momentum for an upside break. On the downside, the range support is around the 0.000158BTC level. It is acting as a strong barrier for further declines and preventing a break below 0.00015BTC. Sooner or later, the price has to come out of range either above 0.000170BTC or below 0.000150BTC.
Looking at the price of CRB to US Dollar, there was a slight decline below the $0.40 level. Later, the price started a recovery and currently it’s above $0.42. On the upside, there are many crucial resistances like $0.45 and $0.50 for further gains. Overall, the price may range trade before the next move.
Looking at the indicators:
Hourly MACD – The MACD for the CRBIT/BTC pair is flat with no sign of a break.
Hourly RSI – The RSI for the CRBIT/BTC pair is below the 50 level and remains directionless.
Intraday Support Level – 0.000158BTC
Intraday Resistance Level – 0.000170BTC
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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