Creditbit Price Technical Analysis – CRBIT/BTC Holding Key Support

Key Highlights

  • Creditbit price continued to trade near a major support area at 0.00023BTC against the Bitcoin.
  • There is a crucial contracting triangle pattern forming with resistance at 0.000295BTC on the 7-day chart of CRBIT/BTC (data feed from Coinmarketcap).
  • On the downside, the most important support for buyers is around 0.00023-22BTC.

Creditbit price looks like consolidating against the US Dollar and Bitcoin. CRBIT/BTC may continue to hold the 0.00022BTC support in the short term.

Creditbit Price Resistance

There was no major move in Creditbit price above 0.00026BTC against the Bitcoin. In the last analysis, we saw two important bullish trend lines break at 0.00027BTC and 0.00025BTC. The price was struggling, and it is still finding it hard to move above the most important resistance at 0.00030BTC. Similarly, on the downside, the price is holding a crucial support above 0.00022BTC. The stated level prevented declines many times, and may continue to keep buying interest intact above 0.00020BTC.

On the upside, there is a strong resistance near 0.00027BTC. It is a key pivot zone, and may continue to prevent any major gains. Above 0.00027BTC, the next major resistance is near 0.000280BTC. There is also a crucial contracting triangle pattern forming with resistance at 0.000295BTC on the 7-day chart of CRBIT/BTC. The 50% Fib retracement level of the last decline from the 0.000302BTC to 0.000220BTC low may also prevent gains.

Creditbit Price Technical Analysis

Overall, there are a few important resistances on the way up such as 0.000275BTC and 0.000295BTC. Looking at Creditbit price against the US Dollar, the $0.60 support is holding well. It seems like a major support and a monthly pivot. As long as the price is above $0.60, it could trade higher towards $0.75.

Looking at the indicators:

Hourly MACD – The MACD for the CRBIT/BTC pair is struggling and remains in the bearish zone.

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

Intraday Support Level – 0.000230BTC

Intraday Resistance Level – 0.000275BTC

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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