Bitcoin, Ethereum, Ripple: a compressed market is desperate for space

October 2, 2018 Ethereum



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  • BTC / USD can not gain traction and can provide assistance to Ethereum.
  • ETH / USD is just a few hundredths away from beating SMA200 and conquering clean ground.
  • XRP / USD relaxes and is in danger of enjoying its technical advantage too much.

As if time had stopped, the main protagonists of the Crypto board are today in the same price ranges in which they have been confined for several days or, as in the case of Bitcoin, weeks.

Volatility continues to plummet and has reached levels not seen since the beginning of 2017. This can take a long time. If we look at the long-term volatility indicators, we can see how the great increase in volatility at the start of 2018 is still regulated.

Without a catalyst that gives a motive and direction to the Crypto market, it can be quite complicated to start high price movements in the short term.

BTC / USD 240 min

The BTC / USD is currently trading at $ 6.553 price level and continues to be locked in moving averages closer and closer. At the current rate, the BTC / USD will run out of space by the end of the week and perhaps at that point the volatility necessary to restart this market will appear again.

Below the current price, the first level of support for the BTC / USD is $ 6.528 where is SMA100. Losing this level would be a sign of short-term weakness and could quickly bring the price of Bitcoin to the next level of support a $ 6,400. In the current scenario, the BTC / USD could reach a third level of support a $ 6,200 and nothing would change in the medium term. On the other hand, losing this last level of support would make it very difficult to see price increases for a long time.

Above the current price, the BTC / USD faces three obstacles in a very narrow price range. At the price level of $ 6.564 (EMA50), at $ 6,568 (resistance to price congestion) and a $ 6.608 (SMA200). There is a lot at stake for the bullish side of the price in a very narrow range.

Above this confluence of resistance, the path to Bitcoin would become much easier, with a clear goal $ 6,760.

btc_usd0-636740697464078535.png "src =" https://cdn2.benzinga.com/files/u105576/btc_usd0-636740697464078535.png "/></p> <p>The 240 min MACD shows a very flat profile. It perfectly reflects the current situation of lack of direction and strength.</p> <h3>The 240-min DMI shows declining positions after yesterday's falls. Even the bulls do not see it clearly and also diminish their positions. Given the lack of short-term clarity, they are leaving the market.<br /><strong>ETH / USD 240 min</strong></h3> <p>ETH / USD is currently quoted at the price level of <strong>$ 229.4.</strong> As with Bitcoin, Ether is also compressed between moving averages. The difference between ETH / USD and BTC / USD is in the relative maximum line, which is falling in the Ether and totally horizontal in the BTC. This detail will greatly affect the exit from this structure for each of them.</p> <p>Below the current price, ETH / USD has three levels of support in a very narrow range, starting with the first support at <strong>$ 226</strong> (EMA50) and the next level of support a <strong>$ 223</strong> where SMA100 converges and a level of price congestion. Losing this level would send the Ether directly to the <strong>$ 195 </strong>price level and most likely up to <strong>$ 170</strong>.</p> <p>Above the current price, only the SMA200 a <strong>$ 229.9</strong> separates ETH / USD from relative highs <strong>$ 248</strong>, perhaps a simple step on its way to <strong>$ 270</strong>. Thus, only 40 cents separate the ether from a bullish environment. If it can not move higher, the message will be extremely weak.</p> <p><img alt=

The 240-Min MACD shows a very horizontal profile but with some difference compared to Bitcoin. In the case of Ethereum, we see how the averages have crossed, increasing the chances of a crossing to the top.

The 240-Min DMI shows that bears are at levels above the bulls even if for very little. Both reduce positions but remain above an ADX that has not reacted to yesterday's bearish movements.
XRP / USD 240 min

The history of XRP / USD is different. He did his job and got rid of the socks in motion. It copies the market situation and moves in the last hours in a rather narrow range. However, especially on the bullish side, the situation is much simpler than that of its peers. Ripple is currently trading at $ 0.563 Price level.

Below the current price, the first support is a $ 0.55 (support for price congestion), a level that would be strengthened by the presence of EMA50 a $ 0.538. The next bearish target is $ 0.505 (support for price congestion) as a step before the last level of support within the current scenario around $ 0.465.

Above the current price, the XRP / USD does not have moving averages, so the levels of resistance to price congestion are now a point of reference. The first resistance is at the price level of $ 0.584, then $ 0.60 is $ 0.632.

btc_usd0-636740697464078535.png "src =" https://cdn2.benzinga.com/files/u105576/btc_usd0-636740697464078535.png "/></p> <p>The 240-min MACD is crossed but above the zero line. It continues to consolidate after the strong upward moves of last week. We see a certain separation between the lines, so any movement could crystallize in the short-term trend.</p> <p>The 240-min DMI shows bulls at higher levels than bears, although bears have increased their positions in recent sessions. The ADX continues to decline, but with a margin to react to the slightest possibility.<br />Receive Crypto updates 24 hours a day on our social media channels: give a follow-up to<a href= @FXSCrypto and our Telegram channel of Trading Crypto FXStreet

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