- An extreme drop in volatility triggers a move to the limits of technical resistance.
- Only Stellar Lumens stands out among the ten top cryptos.
- XRP has trouble staying above $0.30.
On the day of the dead, the crypto market seems to want to add to the gloomy mood.
Among the top ten projects, only Stellar Lumens is still enjoying a Halloween party with an intraday rise of 10%. The reason for that increase is the elimination of inflationary practices in its latest update.
The technical analysis reinforces the movement and promises price increases in the short term.
At the time of writing, XLM is above the SMA100 and enjoys the added support at the EMA50.
-637081993249358720.png)
The broad bearish wedge the digital coin is in points towards the upper resistance line, where the SMA200 appears to bring more difficulty to a possible scenario change.
Traders are closely following the moves in Stellar because of the upside potential it holds within – by only recovering 50% of what has fallen from the 2018 highs – it quintuples its value.
ETH/BTC Daily Chart
ETH/BTC is currently trading at 0.0198 and is still fighting for another day at the 0.020 level. The support provided by the SMA100 is vital to success.
Above the current price, the first resistance level is at 0.020, then the second at 0.0207 and the third one at 0.022.
Below the current price, the first support level is at 0.019, then the second at 0.018 and the third one at 0.017.
The MACD on the daily chart softens the bearish slope and signals interest in attacking the bullish trend again.
The DMI on the daily chart shows us how the bears retain control of the ETH/BTC pair as they manage to stay above the ADX line. The bulls are moving higher and could make an upward attempt in the next few days.
BTC/USD Daily Chart
BTC/USD trades at $9,117 and sublimates the concept of immobility.
BTC/USD remains between the main moving averages, which continue to shrink spaces and drown the price.
Above the current price, the first resistance level is at $9,600, then the second at $10,500 and the third one at $11,275.
Below the current price, the first support level is at $9,000, then the second at $8,800 and the third one at $8,500.
The MACD on the daily chart continues its bullish progression despite the price stagnation. Moving averages are clearly on the bullish side and support price improvement when Bitcoin manages to revive its absent volatility.
The DMI on the daily chart shows the bulls in a fantastic bullish position, which could be much better if it could surpass the ADX line. Bears remain below level 20, which means that it lacks trend strength.
ETH/USD Daily Chart
ETH/USD is currently trading at $181.2 and almost replicates Bitcoin’s technical situation.
Above the current price, the first resistance level is at $190, then the second at $195 and the third one at $200.
Below the current price, the first support level is at $180, then the second at $170 and the third one at $162.
The MACD on the daily chart shows a very flat profile, although it retains the distance between the lines, a positive figure for the price. Moving averages move in the neutral zone of the indicator.
The DMI on the daily chart shows the differences between BTC/USD and ETH/USD. Bulls move above the ADX line, a sign that the bullish momentum is still active. The bears fail in their attempt to breach the ADX line and confirm their current weakness.
XRP/USD Daily Chart
XRP/USD is currently trading at $0.291. The XRP has more free space than its analysis partners but is moving similarly.
Above the current price, the first resistance level is at $0.296, then the second at $0.30 and the third one at $0.31.
Below the current price, the first support level is at $0.289, then the second at $0.285 and the third one at $0.282.
The MACD on the daily chart confirms the bearish cross. The profile is flat, and there is no distance between lines but the most likely development is bearish.
The DMI on the daily chart is determined to contradict the MACD. Bulls remain above the ADX line, and therefore the momentum is bullish, while bears remain horizontal with no apparent intention of disputing the leadership.
Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Worldcoin Price Prediction: Is WLD done with uptrend after 77% rally?
Worldcoin has paused its uptrend as it currently trades at $1.57. This move comes after the altcoin rallied a whopping 77% in just three days, between September 13 and 16. As WLD hovers aimlessly, investors need to be patient to catch the next volatile move.
Ethereum whales prepare ahead of futures Ethereum ETF approval on October 2
Ethereum (ETH) price is likely going to witness a massive spike in volatility soon due to the circumstances surrounding the approval of the token’s futures Exchange-Traded Fund (ETF). According to Twitter users, the ETF is likely going to be approved on October 2.
Ripple Price Forecast: Declining network growth and underwater XRP holders suggest more downside for XRP price
Ripple (XRP) price shows a lack of buying pressure after its win against the US Securities and Exchange Commission (SEC) on July 13. Since then, the remittance token has been on a downtrend. Considering Ripple’s current position, a further decline would not be surprising.
Chainlink Price Prediction: LINK bears set to wipe 25% gains
-637336005550289133_XtraSmall.jpg)
Chainlink price shows an exhaustion of the bullish momentum as it approaches a key reversal zone. This development could see LINK trigger a steep correction that could undo recent gains.
Bitcoin: BTC downside likely after 20-week EMA culls bulls
Bitcoin (BTC) bearish price fractal, as discussed in a previous article, is underway, but the lack of volatility is causing ambiguity and doubt. Regardless, BTC might see a bit of an upside before the long-term bearish scenario plays out.