This week we saw the low of 2018, and in the Bitstamp exchange, we touched $3,122. While most of the market is waiting for confirmation of support around $3,000, on the technical level an unexpected jump brought us almost to resistance levels around $3,600. From there the following resistance is around $4,000. Traded around $3560.
Against the USD approval of the support around $82 that came in, and from there back up to $96, not far from the resistance of around $100. Was trading around $95 under the influence of Bitcoin’s rise? Most of the market was positively affected by trading against the dollar.
Against Bitcoin, we see a V floor. We touched on the support around 0.025BTC with a downside bias in the Poloniex exchange up to 0.023BTC in 4 hours trading. Not many caught it, but those who left an order did. Traded around 0.026BTC resistance at 0.028BTC in this range.
Against the dollar, the downward trend continues this week to reach $73, where the support is. Trading at around $89 with a trading volume that can be noticed on the chart after finding resistance to $100 in the short term.
Against Bitcoin, we saw that the rate touched 0.023BTC last week, and was trading not far around 0.025BTC resistance in this range around 0.026BTC.
Against the dollar, the support that turned into resistance around $80 did not hold, and the price dropped to $62, from where it traded back around $78. Support is being built around $70 in this range.
Against Bitcoin a decline to 0.02BTC where the support in this range. An attempt to return up and found resistance at 0.025BTC. Traded at around 0.021BTC.
Against Bitcoin traded around the 72SAT and climbed up the weekly chart. Despite the bear market and the fluctuations 40% raises are trying to break a possible ATH in the crypto market. Of course, at a 50-50 risk, it is hard to ignore the cyclical nature of this cryptocurrency that started as a joke (this should not be seen as a trade recommendation).
Cryptocurrency charts by TradingView.