Creditbit Price Technical Analysis – CRB/BTC Holding 0.00024BTC

Key Highlights

• Creditbit price after trading close to the 0.00024BTC support against the Bitcoin started a recovery.
• There was a break above a bearish trend line with resistance at 0.00025BTC on the 7-day chart of CRB/BTC (data feed from Coinmarketcap).
• The price is now above the 0.00026BTC level, which might act as a support in the short term.

Creditbit price managed to hold important levels against the US Dollar and Bitcoin, and CRB/BTC may now look to trade above 0.00030BTC.

Creditbit Price Recovery

There were a few swing moves and declines in Creditbit price below 0.00028BTC against the Bitcoin. Later, the price traded towards the 0.00024BTC support, which acted as a decent barrier for sellers. As a result, the price started a recovery and moved above 0.00025BTC. A close above the 23.6% Fib retracement level of the last decline from the 0.00035BTC to 0.00024BTC was broken to initiate a recovery. The most important move was above the 0.00026BTC resistance, which was a support earlier.

Moreover, there was a break above a bearish trend line with resistance at 0.00025BTC on the 7-day chart of CRB/BTC. The price is currently attempting a close above the 50% Fib retracement level of the last decline from the 0.00035BTC to 0.00024BTC. Once it succeeds, it could easily gain pace for further gains towards the 0.00030BTC level. Above 0.00030BTC, the next major hurdle for CRB buyers is around the 0.00032BTC level.

On the downside, the broken resistance at 0.00026BTC may now act as a support. It seems like the 0.00024BTC and 0.00026BTC levels are providing a solid support base. As long as the mentioned supports are intact, the price would continue to rise towards 0.00032BTC.

Looking at the indicators:

Hourly MACD – The MACD for the CRBIT/BTC pair is now back in the bullish zone

Hourly RSI – The RSI for the CRBIT/BTC pair is just above the 50 level.

Intraday Support Level – 0.00026BTC

Intraday Resistance Level – 0.00030BTC

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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