- Creditbit price after a decline of more than 10% found support near 0.00020BTC against the Bitcoin.
- There is a connecting bearish trend line with resistance at 0.00022BTC forming on the 7-day chart of CRB/BTC (data feed from Coinmarketcap).
- On the downside, the 0.00020BTC support area holds a lot of importance in the near term.
Creditbit price decline found support near major support levels against the US Dollar and Bitcoin, and now CRB/BTC is consolidating above the 0.00020BTC support.
Creditbit Price Support
In the last analysis, we saw a major decline in Creditbit price from the 0.00028BTC level against the Bitcoin. The decline was sharp as the price was able to break the 0.00022BTC and 0.00020BTC support levels. However, sellers failed to gain momentum below 0.00020BTC. As a result, the price started consolidating near 0.00020BTC and currently trading with a neutral bias.
The best part is CRB trading above the 0.00020BTC support. It is currently positioned below the 0.00022BTC level, which is a major resistance. There is also a connecting bearish trend line with resistance at 0.00022BTC forming on the 7-day chart of CRB/BTC. Moreover, the 23.6% Fib retracement level of the last decline from the 0.00029BTC high to 0.00019BTC low is also around 0.00022BTC. So, it won’t be easy for CRB buyers to take the price above the 0.00022BTC level.
A close above 0.00022BTC could open the doors for more gains. The price may trade towards the 50% Fib retracement level of the last decline from the 0.00029BTC high to 0.00019BTC low. On the downside, we can continue monitoring the 0.00020BTC support and 0.00019BTC low. As long as these supports are intact, the price may surpass offers near 0.00022BTC.
Looking at the indicators:
Hourly MACD – The MACD for the CRBIT/BTC pair is currently flat.
Hourly RSI – The RSI for the CRBIT/BTC pair is neutral, but still below the 50 level.
Intraday Support Level – 0.00020BTC
Intraday Resistance Level – 0.00022BTC
Charts from Coinmarketcap