- Creditbit price managed to find bids near the 0.00021BTC area against the Bitcoin and started a recovery.
- There is a key bearish trend line with resistance at 0.00028BTC formed on the 7-day chart of CRB/BTC (data feed from Coinmarketcap).
- The price is currently above the 0.00026BTC support, which holds a lot of importance in the short term.
Creditbit price has started a recovery against the US Dollar and Bitcoin, and CRB/BTC now has to break the 0.00030BTC resistance for more gains.
Creditbit Price Recovery
It seems like Creditbit price formed a base above the 0.00020BTC support area against the Bitcoin. The price made a nice upside move and traded above the 0.00025BTC. The upside move was decent as the price moved towards the 0.00036BTC where it faced sellers. A correction wave is initiated from the 0.00036BTC high. There was a move below the 23.6% Fib retracement level of the last wave from the 0.00021BTC low to 0.00036BTC high.
It is currently trading above a major support area of 0.00026BTC, which holds a lot of importance in the short term. CRB is also above the 50% Fib retracement level of the last wave from the 0.00021BTC low to 0.00036BTC high. So, we can say that the price is trading above a major breakout support at 0.00026BTC. On the upside, there is a key bearish trend line with resistance at 0.00028BTC formed on the 7-day chart of CRB/BTC.
A break above the trend line resistance is needed for CRB to gain momentum towards 0.00030BTC. Once there is a break and close above 0.00030BTC, there can be a spike above 0.00035BTC.
Looking at the indicators:
Hourly MACD – The MACD for the CRBIT/BTC pair is moving nicely in the bullish zone and showing positive signs.
Hourly RSI – The RSI for the CRBIT/BTC pair is just holding the 50 level.
Intraday Support Level – 0.00026BTC
Intraday Resistance Level – 0.00030BTC
Charts from Coinmarketcap
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