Author: Bitcoin
The correction from $13,200 to $9,850 shook the market slightly and it also raised the fear index. Support in this range was found near $10,000. The short squeeze effect has led to a bounce in the past 24 hours which got us to $11,000. This is not far from the resistance in this range which lies at around $11,350. If we break out of it, we will observe a pattern which is similar to the increase from $5,700 to $8,800. On the other hand, if the support fails, we will see a double top formation.
Ethereum
Against the dollar, the support around $280 broke down and we fell to around $230. That’s just about at the trend line marked in yellow. Trading around $200 is not a positive technical situation, and the attempt to reverse the trend failed. If traders’ confidence is to return, we’ll need to return to the range around $260.
Against Bitcoin, the support around 0.024 BTC failed and we tested the range at 0.02 BTC, but the Fibonacci indicators show that there is a chance we’ll break down to 0.018 BTC. That’s not a positive sign from a technical point of view. Resistance in this range is at 0.024 BTC.
Ripple
Against the dollar, XRP experienced a sharp drop to 29 cents, where the support in this range is found. The 200MA also broke down and became a resistance level at around 36 cents which got us back to the levels of the beginning of the year. On one hand this disappoints investors, but it also shows stability in this range.
Against BTC, the support is at 2019 lows around 2,700 satoshi. Resistance in this range is at 3,000 sat. Like most other altcoins, XRP has declined against BTC. Is there another way to get out of here?
Icon
We saw a sharp correction this week which dragged the price to the support at 26 cents. The next support will be tested at 24 cents. Resistance is at 30 cents.
Against BTC, Icon has been testing support around 250 satoshi since the beginning of July. Resistance in this range is at 320 sat.
Decred
Since the start of 2019, Decred’s price has risen from $16 to a peak of $38. The price corrected to the support at $27 while resistance currently lies at $34.
Against Bitcoin, the price is stabilizing around support at 0.0026 BTC which is also the current floor for 2019. Resistance in this range is around 0.003 BTC.
Cryptocurrency charts by TradingView.
Technical analysis tools by Coinigy.
