October 19, 2021

Analysis of prices for Bitcoin, Ethereum, XRP for 10/11/2021

Analysis of prices for Bitcoin, Ethereum, XRP for 10/11/2021

BTC hit a new October high over the weekend, but growth is hindered by an overbought market.

BTC / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 10/11/2021

Last weekend bitcoin priceconsolidated in a sideways range with support around 54000.00 USD. At the end of last week, there were several attempts by the bulls to break above the resistance of the 78.6% fibo (55288.19 USD), but all of them ended with a pullback to the support area of ​​$ 54,000.

Late Sunday night at Bitstampthere is a sharp increase in volatility. In a short period of time, the BTC price breaks out to a monthly high around the 56500.00 USD mark, and then a rather large transaction takes place at a price of 51000.00 USD. Such a low price is not a market price, and is not recorded anywhere on other exchanges.

Bitcoin price again this morningrecovered above the 78.6% Fibonacci level, but buying volumes are very low. If the bulls manage to unleash the rush demand, then the re-test of the resistance of 58000.00 USD remains, as before, relevant.

Chances are early this weekbears are planning big sales, and if the price spikes into the area of ​​the next monthly high, sellers may drop the price below the orange support of 53400.00 USD.

ETH / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 10/11/2021

Over the weekend, the price of ether was gradually decreasing, and tonight the pair broke through the support at 3400.00 USD, setting a local minimum at 3370.00 USD.

In the morning, the price recovered to the area of ​​3500.00 USD and may continue to rise to the level of 3600.00 USD, if there is support from a large buyer.

In the area of ​​3550.00 USD, sellers can seize the initiative, and then the price will return to the area of ​​the local minimum.

XRP / USDAnalysis of prices for Bitcoin, Ethereum, XRP for 10/11/2021

Last Saturday, the four-hour EMA55 heldthe price of XRP from the decline and the pair added quite well in price. The daily maximum was recorded in the area of ​​the level of 1,200 USD. On Sunday, the October high was updated to the level of 1.222 USD. The final growth over the weekend was about 18%.

In the afternoon, the volume of purchases decreasedand the price rolled back below the support of 1.150 USD. A positional battle for market dominance is taking place in this area this morning. If buyers manage to seize the initiative, then on large volumes, growth may continue to a new monthly maximum in the area of ​​1.250 USD.

Otherwise, the bears will continue to decline in price to the POC indicator line (1.073 USD).

* All prices are based on BitStamp data

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