- Creditbit price extended its decline and even traded to a new monthly low below 0.000140BTC against Bitcoin.
- There is a connecting bearish trend line forming with resistance near 0.000152BTC on the 7-day chart of CRB/BTC (data feed from Coinmarketcap).
- On the downside, the recent low of 0.000135BTC might continue to act as a support zone.
Creditbit price declined further against the US Dollar and Bitcoin, and CRB/BTC’s upside move remains capped near the 0.00016BTC level.
Creditbit Price Decline
There was no respite for Creditbit price as it continued to decline below the 0.00016BTC support against Bitcoin. The downside move was such that the price broke the 0.000150BTC support area. A new monthly low was formed near 0.000135BTC from where a recovery wave was initiated. The price managed to recover above the 23.6% Fib retracement level of the last decline from the 0.000165BTC high to 0.000135BTC low.
However, the upside move was protected by the 0.00015BTC level. It is also near the 61.8% Fib retracement level of the last decline from the 0.000165BTC high to 0.000135BTC low. Moreover, there is a connecting bearish trend line forming with resistance near 0.000152BTC on the 7-day chart of CRB/BTC. Lastly, the last major support at 0.000158BTC may now act as a hurdle for buyers. So, if the price attempts a break, it won’t be easy above 0.000160BTC.
Looking at the price of CRB to US Dollar, there was a minor downside move towards the $0.37 level. Later, the price found support just above $0.35 and later moved higher. However, the upside move may face many resistances like $0.42 and $0.45. The most important hurdle remains near $0.50.
Looking at the indicators:
Hourly MACD – The MACD for the CRBIT/BTC pair is recovering from the bearish to bullish zone.
Hourly RSI – The RSI for the CRBIT/BTC pair is currently just below the 50 level.
Intraday Support Level – 0.000135BTC
Intraday Resistance Level – 0.000160BTC
Charts from Coinmarketcap