August 9, 2020

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 Bitcoin price was lateralthe range between the support of 10100.00 USD and the resistance of the four-hour EMA55. At the beginning of the week, buyers constantly tried to break through the resistance of the moving average, but they could not gain a foothold over the level of average prices.

In the second half of the week a strong bearishthe impulse pierced support and tested the orange area, which is the target level of the bears. Buyers reacted quite quickly by restoring prices to the lateral range. The recovery took place at medium volumes, and when volumes began to decline yesterday, the pair began to slowly slide below the psychological mark of 10,000.00 USD.

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

At the beginning of next week we expect a re-testtarget level 38.2% Fibo (9441.98 USD). If the bears fail to push through this strong level of support, the pair will be able to recover above the psychological “ten”.

A break below the orange area 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, as well as last week, the air price showed an upward trend with support for the watch EMA55.

On Thursday, the pair set a September high atresistance area 100% Fibo (222.98 USD). The rollback was kept for a long time by the level of average prices, but sellers sold this level tonight and are trying to roll back the price below 200.00 USD.

Trading volumes exceed the average level and buyers are trying to stop the decline. But next week the couple will test the level Control points (198.00 USD) indicator profile volume (VPVR)

If the bears sell this level "fair prices", Then the decline may continue to support 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)

At the beginning of this week, the price of Ripple started fromthe upper border of the tapering range (0.258 USD) to the upper border of the yellow side corridor (0.311 USD). Analysts suggest that such a sharp start to the price 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 is at the level of 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 the Ripple price 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 exchange