September 26, 2020

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 rest of the time the pair spent under the watch level EMA55. Several times, buyers tried to break through the resistance of this moving average, but failed to gain a foothold over it. Each time the bears rolled back prices to the next lows.

Yesterday's bullish momentum also ended in a breakthroughEMA55 and a maximum in the region 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 minimum below 7800.00 USD.

Last week, we predicted that the pairBTC / USD will roll back to support 7400.00 USD, but in the region of the psychological mark of 8000.00 USD, the price of Bitcoin spent a long time in flat. Now, although sellers have some advantage, the pair has not yet reached the target level of 7400.00 USD. We believe that a breakthrough in 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 the further drop in the price of Ethereum.

Now the weekly low is at around 168.34 USD, but if the bears increase the pressure, then next week there is a weak probability of a re-test of 50% Fibo (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 the level of 0.304 USD, but stayed until the end of the week within the yellow corridor, the XRP price failed.

Tonight a strong bearish impulse struckthe lower border of the lateral range and tried to roll back the price to the support of 0.280 USD. In the morning, the pair is consolidating around the level of 0.286 USD and is ready to resume the decline. If sellers manage to sell this support (0.280 USD), then the price may go down to around 0.275 USD.

On the other hand, from the morning consolidation zonethe pair could continue to restore to the lower border of the yellow range, but the level of 0.290 USD now acts as a strong resistance, therefore, it will certainly deploy the Ripple price to decline. 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