Today, Ethereum has risen a solid 9 percent as it surges above $3000. The upper limit of the range it traded within over the past two weeks has been broken by the coin. It was trading between $3150 to $2800. Ethereum bounced off the lower boundary on Wednesday and found support at its 100-day MA.
Since then, ETH has managed to break the September descending trendline and have climbed back above the 20 day MA.
The first resistance is at $3300 (50 day MA). The next resistance is at $3350, $3500 and $3600. Additional resistance is at $4000.
The first support is at $3000. The next support is $2890 (.786 Fib and 100-day MA), $2770 (.786 Fib) and $2620 (220-day MA).
Daily Chart ETH/USD Source: TradingView.
ETH trades sideways against BTC, as it remains within the range of 0.0711 BTC to 0.0667 BTC. At the beginning of the week, the cryptocurrency tried to break the resistance at 0.0711 BTC but failed. It fell throughout the week, before finding support at the rising trendline.
To dictate the next direction of the market, ETH must surpass the current range against BTC.
The rising trend line is the first support. Then, support at the bottom of this range is at 0.0667 BTC. This is downside 1.272 Fib Extension and 100-day MA.
The 50-day MA is at 0.071 BTC, which is the first resistance. The upper angle of price channel is next, with 0.0733 BTC and 0.075 BTC respectively (beraish.786 Fib).
Daily Chart ETH/BTC Source: TradingView.
Today, XRP rose by a strong 9.9% as it broke above $1 again. The entire September period was spent in a descending wedge structure. Only Wednesday saw the coin break through the wedge’s upper angle.
The coin had found support at $0.9 thanks to a 100-day MA. This allowed it to rebound and move past the upper edge of the wedge. Today, XRP’s 9% price rise allowed it to surpass the 200-day MA and the 20-day MA.
The first resistance is at $1.05 which was previously strong support. Resistance lies above this at $1.10 (50 day MA), $1.5, and $1.20 (Feb 2018 highs).
The first support is at $1.00 (20 day MA). The next support is $0.96 (200 day MA) and $0.9 (100-day MA), respectively.
Daily Chart: XRP/USD Source: TradingView.
XRP trades below the 200-day MA today, which seems to indicate that it is struggling against BTC. For the past two weeks, the coin traded between 3200 SAT to 2100 SAT. It must break this range in order to determine the next direction of the market.
The first strong support is at 2100 SAT (100 day MA). The 2050 SAT is next (.618 Fib), 2000 SAT and 1860 SAT are next (.786 Fib) and 1800 SAT are the last (July 2020 low).
2225 SAT (20 day MA) is the first to resist. The next are 2300 SAT and 2400 SAT (5-day MA), respectively.
Daily Chart XRP/BTC Source: TradingView.
The ADA trades at $2.23, a slight decline of 3.3% during the week. It began the week at $2.36, a bearish.382 Fib. Then it fell further to $2.23 (support at $2.00) and then continued lower until it reached $2.00 (.618 fib).
Wednesday’s ADA rebounded from $2.00 yesterday and pushed above a descending trendline. Today, ADA continued to rise in order to overcome resistance at the 20 day MA level.
The first resistance is at $2.36 (bearish.382 Fib & 50-day MA). The next resistance is at $2.50 (bearish.5 Fib and 50-day MA), $2.65(bearish.618 Fib), $2.80 (bearish.802 Fib), and $2.80.
The opposite side has $2.21 (5 Fib) as the first support. The next support is at $2.10 (.618 Fib), $2.00 (100-day MA), $1.88 (100 day MA) and $1.80.
Daily Chart ADA/USD Source: TradingView.
ADA is currently under bearish pressure from BTC, as it struggles to maintain its September support. The cryptocurrency began the week at 5400 SAT. It was unable to overcome this resistance and it ended up falling below the 50-day MA.
It fell throughout the week, until it reached support at 4715 SAT today (.5 Fib retracement).
If the bears push below 4715 SAT, then 4600 SAT will be their first support. The next support is at 4500 SAT, 100-day MA, 4350 SAT (418 Fib), 4220 SAT (372 Fib Extension), and 4500 SAT (4500 SAT).
The 4800 SAT is the first to resist. The next are 5000 SAT and 5200 SAT (50 day MA), 5400 SAT and 5800 SAT.
ADA/BTC Daily Chart. TradingView.
BNB has risen 8.2% in the last week, as it reaches $412 today after breaking above $400 once again. The entire September period was marked by a falling wedge pattern.
BNB reversed on Wednesday and moved towards the upside of its pattern to overcome resistance at the 100 day MA. Yesterday, the 100-day MA resistance was broken and BNB continued to climb higher than $400. The 200-day MA reached $412.
The first resistance is at $425 (50-day MA). The next resistance is at $450 (50-day MA), $460 (bearish.5 Fib), $475, $500, and $560. Additional resistance is found at $516 (bearish.618 Fib), $460, and $500.
The first support is at $400 (200-day MA). The next support is $380 (20-day MA), 375 (20-day MA), $260 (0.618 Fib), $350 (20-day MA), and $350.
Daily Chart BNB/USD TradingView.
BNB is quite flat against BTC because the coin is currently in a long-term, descending triangle pattern. It began September at 0.01 BTC, and remained lower for the month.
BNB found support last weekend at the lower angle in the long-term triangle. It rebounded throughout the week, pushing back above 0.008 BTC. BNB surged higher on Wednesday as it hit 0.009 BTC (200 day MA). Over the past two days, it has remained at this resistance.
The first support is at 0.0085 BTC (20 day MA). The next support is at 0.00829 BTC (0.5 Fib), 0.0.008 BTC and 0.00757 BTC.
The 50-day MA is at 0.009 BTC, which is the first resistance. The next resistance is 0.0095 BTC (0.01 BTC) and 0.011 BTC (1.72 Fib Extension).
Daily Chart BNB/BTC TradingView.
The UNI has risen by an impressive 19.7% in the last week, as the coin reaches $25. It traded within a descending wedge formation in September. On Sunday, the cryptocurrency found support at $18.25 (downside 1.27 Fib Extension), and then rebounded higher to the $24 resistance (50 day MA).
Today saw the end of the wedge as UNI climbed above $25.
The first resistance is at $27.50. The next resistance is at $27.50 (bearish.5 Fib), $30 (September highs) and $33 (bearish.618 Fib).
The first support is at $24 (20 day MA). The next support is $23 (200 day MA), $22, $20.60 (0.618 Fib), $20, and $20.
Daily Chart UNI/USD Source: TradingView.
BNB was also able to break through a wedge formation against BTC last week. After finding support at 0.0945 BTC on Sunday, the coin is currently trading above the 200-day MA.
The first strong resistance is at 0.0005800 BTC, bearish.382 fib. The next strong resistance is at 0.0006 BTC (bearish.382 Fib), 0.0006315 BTC and 0.00065 BTC.
The 200-day MA (0.00053 BTC) is the support. The next support is 0.0005 BTC (0.5 Fib), 0.0.00045 BTC and 0.000412 BTC (0.618 Fib).
Daily Chart UNI/BTC Source: TradingView.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.