Key Highlights
- Creditbit price likely completed a consolidation phase and rocketed above 0.00040BTC against the Bitcoin.
- There is a 2-point connecting bullish trend line forming with support at 0.00035BTC on the 1-day chart of CRBIT/BTC (data feed from Coinmarketcap).
- The price is heavily bid at the moment, and likely to extend gains above 0.00050BTC in the near term.
Creditbit price soared higher against the US Dollar and Bitcoin to register heavy gains. CRBIT/BTC is up 50% and trading just around 0.00050BTC.
Creditbit Price Breaks All Barriers
In the last analysis, we saw an increase in trading volumes for Creditbit versus ETH, and the price gained traction. It looks like there was an increase in buying interest for CRB, resulting in sharp gains against the US Dollar, Bitcoin and Ether. Earlier, we saw how Creditbit price struggled to break the 0.00020BTC resistance against the Bitcoin. However, the recent surge was solid, as the price not only broke 0.00020BTC, but also managed to register heavy gains.
During the upside, the price clearly came out the consolidation phase and rocketed above 0.00040BTC. The price has reached another major resistance at 0.00050BTC, and currently trading just below it. There is a chance of a minor correction in the near term towards 0.00040BTC or 0.00035BTC. There is a 2-point connecting bullish trend line formed with support at 0.00035BTC on the 1-day chart of CRBIT/BTC. It may act as a support and prevent downsides below 0.00030BTC going forward.
There were solid gains versus the US Dollar as well above $1.00. The price moved above the $1.20 and $1.50 resistance levels to trade close to $1.60. The overall trend for CRB is bullish now, and buying dips are favored.
Looking at the indicators:
Hourly MACD – The MACD for the CRBIT/BTC pair is moving nicely in the bullish zone.
Hourly RSI – The RSI for the CRBIT/BTC pair surged higher and reaching overbought levels.
Intraday Support Level – 0.00035BTC
Intraday Resistance Level – 0.00050BTC
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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