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#Daily Price Analysis

ETH still falling down, Ethereum Price Analysis 7 Oct

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Ethereum Price Key Features

  • Ethereum price is right now exchanging a wide range over the $210 support against the US Dollar.
  • There is a climbing channel framed with support at $222 on the 4-hours outline of ETH/USD (information feed by means of Kraken).
  • The match may decrease in the here and now towards the $214 and $210 support levels.

Ethereum price is combining versus the US Dollar and Bitcoin. ETH/USD is at a danger of a minor drawback amendment towards the $214 support level.

 

Ethereum Price Analysis 

This previous week, there were, for the most part, go moves over the $210 support in Ethereum price against the US Dollar. The ETH/USD match exchanged higher over the $220 and $224 levels, yet it neglected to hold gains. Amid the upside move, there was a break over the $227 level and the 100 basic moving normal (4-hours). Also, the price exchanged over the half Lie retracement level of the last drop from the $240 high to $213 low.

In any case, the upside move was ensured by the $229-230 zone. Moreover, the 61.8% Lie retracement level of the last drop from the $240 high to $213 low likewise went about as a resistance. Ethereum price is gradually declining and it is as of now exchanging underneath the $227 level and the 100 SMA. There is additionally a rising channel framed with support at $222 on the 4-hours outline of ETH/USD. On the off chance that there is a drawback break underneath the channel support, the price could decrease towards the $220 and $214 support levels.

 

ETHUSD Price Chart 7 October

ETHUSD Price Chart 7 October

 

The above graph shows that Ethereum price is unmistakably attempting to pick up energy above $229-230. In the event that it keeps on flopping, there could be a bearish response underneath $214 in the close term. Until at that point, Ethereum price is probably going to exchange a range over the $214 support level in the coming sessions.

 

4-hours MACD – The MACD is somewhat set in the bullish zone.

4-hours RSI – The RSI is as of now close to the 50 level.

Significant Support Level – $220

Significant Resistance Level – $230

#Daily Price Analysis

XMR Daily Trading Signals: 24 October

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Dominant bias for MONERO (XMR)- Ranging

Resistance Levels- $114.00, $116.00, $118.00

Support Levels- $104.00, $102.00, $100.00

 

XMR is in a range-bound market. The bears lost momentum at 106.24 in the support area on 22nd October. The bulls’ gradual return was signaled with a bullish engulfing candle that broke the 34 EMA and XMRUSD was up at 107.98 in the support area. Increased bullish momentum saw XMRUSD at 112.85 in the resistance area on 23rd on October. but closes with a wick which implies the bear are gradually back within the range

 

XMR 4-hour chart

XMR 4-hour chart

 

XMR Price is above the 34 EMA and the relative strength index is at 66% but it signal points down which implies downward movement within the range may occur.

XMR is in consolidation and trading between $112.42 in the upper resistance area and at $105.14 in the lower support area of the range. Traders are advised to be patient at this critical period for a breakout at the upper resistance area or a breakdown at the lower support area before taking a position.

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#Cardano Price Analysis

ADA Daily Trading Signals: 24 October

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Dominant bias for CARDANO (ADA)- Bearish

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Levels- $0.07000, $0.06800. $0.06600

 

ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADAUSD at $0.07939 in the resistance area on 21st October, the bears’ return was gradual. Initially, the cryptocurrency was down to $0.07680 in the support area before closing same day. The increased bearish pressure led ADAUSD to $0.07610 before minor bullish pullback on 22nd October that pushed the cryptocurrency up $0.07771 in the resistance area. Today’s 4-hour opening candle at $0.07616 formed a bearish railroad an indication that the bears are back and price may head south.

 

ADA 4-hour chart

ADA 4-hour chart

 

Price is below the 34 EMA a plus to the bears’ pressure coupled with the relative strength index signal pointing down it implies downward price movement of the cryptocurrency may be inevitable.

The downward trendline serves as a strong resistance. Each touch of price on it result in a breakdown. A breakdown may be expected as the price is around it. $0.07200 in the support area may the initial bears’ target

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#Daily Price Analysis

XRP Daily Trading Signals: 24 October

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Dominant bias for XRP- Ranging

Resistance Levels- 0.6000 $0.6500, $0.7000

Support Levels- $0.3500, $0.3000. $0.2500

 

XRP continues in a range-bound market. The bears successfully took control of the market after the formation of a bearish railroad at $4617. XRP was initial down to $4567 and later to $4444 in the support area. Attempts to continue the downward journey within the range was rejected as a doji was formed, a good signal for reversal. The bulls did return and took XRP to $4853 in the resistance area.

 

XRP 4-hour chart

XRP 4-hour chart

 

The morning star formation was confirmation for the bullish takeover within the range. The price rose $0.48534 in the resistance area.

Price is above the two EMAs and the stochastic oscillator at 45% and its signal points up. This implies upward price movement within the range due to the bullish increased momentum.

XRP is in consolidation and trading between $0.4819 in the upper resistance area and at $0.4425 in the lower support area of the range. Traders should be patient at this period and allow a breakout at the upper resistance area or breakdown at the lower support area before taking a position with good reversal candlestick pattern that confirms the direction.

 

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