June 18, 2024

Market overview of the main cryptocurrency pairs for the current week (from 10/14/2019 to 10/20/2019)

Market overview of the main cryptocurrency pairs for the current week (from 10/14/2019 to 10/20/2019)

In today's review, as always, we summarize the outgoing week, analyze the general dynamics of prices.

BTC / USDMarket overview of the main cryptocurrency pairs for the current week (from 10/14/2019 to 10/20/2019)

The weekly high was set on Tuesday ataround 8420.00 USD. The pair spent the rest of the time below the hourly EMA55 level. Several times buyers tried to break through the resistance of this moving average, but were unable to gain a foothold above it. Each time, the bears rolled back prices to new lows. 

Yesterday's bullish momentum also ended in a breakoutEMA55 and a maximum in the area of ​​8100.00 USD, but sellers returned the pair below the average price level by the end of the day and now we are expecting a new weekly low below 7800.00 USD. 

Last week we predicted that the coupleBTC/USD will roll back to the support of 7400.00 USD, but in the area of ​​the psychological mark of 8000.00 USD, the Bitcoin price has been flat for quite a long time. Now, although sellers have some advantage, the pair has not yet reached the target level of 7400.00 USD. We believe that a breakthrough into this area may occur early next week. 

ETH / USDMarket overview of the main cryptocurrency pairs for the current week (from 10/14/2019 to 10/20/2019)

This week, the bears were able to test a fairly strong support level of 61.8% fibo (168.70 USD), which limits further decline in the price of Ethereum. 

Now the weekly low is at 168.34 USD, but if the bears increase pressure, then next week there is a weak chance of a retest of the 50% fib level (151.94 USD). 

On the daily time frame, indicator lines are alreadyreached the oversold zone, and if there are no major sales in the near future, the pair will be able to stay in consolidation above the 61.8% fibonacci level. In the middle of next week the pair may recover to the resistance of 186.00 USD.

XRP / USDMarket overview of the main cryptocurrency pairs for the current week (from 10/14/2019 to 10/20/2019)

This week the pullback from the October high is 0.300 USD stopped at 0.280 USD. On Thursday, the bulls were able to seize the initiative and updated the maximum to 0.304 USD, but the XRP price failed to stay within the yellow corridor until the end of the week. 

Tonight a strong bearish impulse broke throughthe lower border of the sideways range and tried to roll back the price to the support of 0.280 USD. In the morning, the pair is consolidating around the 0.286 USD mark and is ready to resume its decline. If sellers manage to push through this support (0.280 USD), then the price may drop to the 0.275 USD mark.   

On the other hand, from the morning consolidation zonethe pair could continue to recover to the lower border of the yellow range, but the level of 0.290 USD now acts as strong resistance, so it will definitely turn the Ripple price downward. We believe that next week the price will return to the support of 0.265 USD. 

  

* All price values ​​are based on data from the BitStamp exchange