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Price Analysis

Price Analysis For Bitcoin, Bitcoin Cash, Ethereum, Monero and Ripple

Price Analysis

The negotiation between Coinbase and Tiger Global is nearing a decision. The latter is about buy stakes worth $500 million in the former company and the valuation for this is $8 billion. Since the investment firm is known for its eminent panel of investors, this can intrigue other hedge funds to get into similar deals.

The bearish trend in the crypto market is becoming a major headache and fear for the retail investors while the institutional ones are using this as an opportunity for investing in different crypto companies and blockchain firms. Around $3.9 billion is invested into blockchain and crypto as per a Diar’s report, and these investments are made by venture capitalists. There is almost 280% rise in investment compared to the previous year.

When the market fundamentals are getting better with time, the small investors are getting hurt due to the excessive automaton and use of bots, and this is hampering the overall market reputation. The bots are used mainly for market manipulation, and this is increasing due to the lack of any regulators in this market. In traditional finance and even in derivative markets, these bots are already outlawed.

Bitcoin (BTC)/ USD

The recent breakdown of Bitcoin indicates that the sellers have the upper hand in this short-term market. It has broken both small trend-line support and the moving averages. However, the demand can get indicated at the lower levels if the bull gets back to raise the price above the trend-line and MA.

The chances increase for the retests of the $5900-$6075 critical support zone if the price remains below the line of downtrend of the moving average and descending triangle for a longer duration. There can be a strong resistance formation if the downtrend line breaks out and $6831.99 can push the pair to increase up to $7400.

The market expects BTC/USD within the coming week to make a critical move. Prices are now close to the buying levels and thus investors are advised to hold long positions and place stop orders at $5900.

ETH/USD

From September 14th till now, the price of ETH is ranging within $200 to $250. The balance between the sellers and the buyers indicates the flattening of the moving average.

Since May 24th, the critical overhead resistance of 50-day SMA is not scaled. The first indication will be the point when there will be a breakout and from then a new uptrend will start and will gather momentum above $322.57 (UTC time Frame) at closing.

On the contrary, if the prices are forced below $200 by the bears, then this pair can review the lows attended recently of $167.32. The market shall wait for trading in long positions till the buying starts.

Ripple (XRP)/USD

Ripple price is presently hovering in between $0.4255 and $0.625. If the crypto falls below the critical support of 20-day EMA, then it could fall to $0.4255.

After a steep run-up, there will be a place for consolidation as anticipated. The pair of ripple and the UD dollar is expected to resume the uptrend if it rises and retain itself over $0.625.

With the RSI in the positive zone, the moving averages are downgrading, bulls can be expected shortly. With a stop trigger at $0.42, investors can go long on XRP/USD.

Bitcoin Cash (BCH)/USD

This pair is trying hard to retain itself above the MA from the end of the September, however, was not able to remain above the level of $550. It will attract sellers if the upward trend is not resumed early. Strength in this pair can be assumed if it rallies above $600 while it can attain lows if any 20-Day EMA breaks down.

History of the BCH/USD pair has various vertical rallies in it which is why investors are suggested to go long and hold to it with a stop-loss trigger at $400.

Monero (XRM)/ USD

Around $115 level, the price of Monero is trading from 29th September. There is an equilibrium between the buyers and the sellers as predicted by this. RSI is near to 50 level and the moving averages are flat enough to suggest that this slow trading can continue for a few days ahead as well.

The pair of XRM and USD can see a rise till $140 only if the pair can hold itself above the support level of $121. The price of this pair can drop to $103 and further to a low of $96 if it breaks the support of $107.80. The traders are advised to go long with $100 as stop-loss trigger.

 

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