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Key Highlights
- Creditbit price moved down a few points and traded close to the 0.00060BTC level against the Bitcoin.
- There was a recovery, but a major horizontal resistance at 0.000705BTC formed on the 1-day chart of CRBIT/BTC (data feed from Coinmarketcap) is acting as a hurdle.
- On the downside, a major support is formed above 0.00060BTC, which holds the key in the near term.
Creditbit price was seen struggling a bit against the US Dollar and Bitcoin, and now CRBIT/BTC is trading below a major resistance at 0.000705BTC.
Creditbit Price Resistance
In the last analysis, we saw how Creditbit price was under a minor bearish pressure around 0.00080BTC against the Bitcoin. The mentioned 0.00080BTC support was very important, and it looks like the price failed to hold it. There was a decline below 0.00080BTC. Later, the price even broke the 0.00070BTC support area to ignite more losses in the near term. Similarly, Creditbit price failed to hold the $1.10 support against the US Dollar and moved down.
It traded below $0.90 once and attempted a test of the $0.80 level. Later, the price found support against both the US Dollar and Bitcoin, and recovered. However, there is a major horizontal resistance at 0.000705BTC formed on the 1-day chart of CRBIT/BTC (data feed from Coinmarketcap). It is acting as a hurdle and preventing gains in the near term above 0.00080BTC. Also, the 61.8% Fib retracement level of the last decline from the 0.00093BTC high to 0.000585BTC low is acting as a resistance.
So, we can say that the price is facing a major resistance around 0.00071BTC. A break above it could take it towards 0.00080BTC. On the downside, the most important support is at 0.00060BTC.
Looking at the indicators:
Hourly MACD – The MACD for the CRBIT/BTC pair is just recovering.
Hourly RSI – The RSI for the CRBIT/BTC pair has managed to move back above the 50 level.
Intraday Support Level – 0.00060BTC
Intraday Resistance Level – 0.00071BTC
Charts from Coinmarketcap
