February 22, 2024

Market review of the main cryptocurrency pairs for the current week (from September 16, 2019 to September 22, 2019)

Market review of the main cryptocurrency pairs for the current week (from September 16, 2019 to September 22, 2019)

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

BTC / USDMarket review of the main cryptocurrency pairs for the current week (from September 16, 2019 to September 22, 2019)

This week the price of Bitcoin was sidewaysrange between support 10100.00 USD and resistance of the four-hour EMA55. At the beginning of the week, buyers constantly tried to break through the moving average resistance, but were unable to gain a foothold above the average price level. 

In the second half of the week there is a strong bearishthe impulse broke through support and tested the orange area, which is the bears' target level. Buyers reacted quite quickly by restoring the price to a sideways range. The recovery took place on average volumes, and when volumes began to decline yesterday – the pair began to slowly slide below the psychological level of 10000.00 USD. 

This morning, in the area of ​​9850.00 USD, buyers are trying to seize the initiative to return to the area of ​​average prices, but today they are unlikely to be able to rise above ten thousand. 

We expect a re-test early next weektarget level 38.2% fib (9441.98 USD). If the bears fail to push through this strong support level – the couple will be able to recover above the psychological “ten”. 

Break below the orange area – this is a signal to continue the bearish trend to the area of ​​8900.00 USD. 

ETH / USDMarket review of the main cryptocurrency pairs for the current week (from September 16, 2019 to September 22, 2019)
 

This week, however, just like last week, the price of ether showed upward dynamics with support at the hourly EMA55. 

On Thursday the pair set a September high ofresistance area at 100% fib (222.98 USD). The pullback was held at the level of average prices for a long time, but tonight sellers pushed through this level and are trying to roll back the price below 200.00 USD. 

Trading volumes are above average and buyers are trying to stop the decline. But next week the pair will test the levelControl points(198.00 USD) indicatorprofile volume(VPVR). 

If the bears sell this level "fair prices", then the decline may continue to the support of 78.6% fibo (192.57 USD). 

  

XRP / USDMarket review of the main cryptocurrency pairs for the current week (from September 16, 2019 to September 22, 2019)

Earlier this week, the price of Ripple started fromthe upper border of the narrowing range (0.258 USD) to the upper border of the yellow side corridor (0.311 USD). Analysts suggest that such a sharp price start could be caused by fundamental events related to the transfer of 100 million Ripple coins to Jed McCaleb – CEO of Stellar. 

However, this Wednesday the couple could not overcomeresistance at 0.330 USD and returned to the lower border of the yellow corridor. Tonight, the bears broke through the support of 0.290 USD and rolled back the price of Ripple to the area of ​​0.280 USD. 

We believe that next week the pair will return to the dotted narrowing range to a fair price of 0.255 USD.

   

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