After five weeks of trying to stay above its 50- and 200-week moving averages, the digital silver is in danger of closing below these lines and $1600 this week. The following essential lines of defence look to be the $1500 and $1200 levels, where buyers came to the coin's rescue in March and December last year.
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Alexander Kuptsikevich,
Chief Market Analyst at FxPro
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.