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Market data is provided by the HitBTC exchange.
The investment company Tiger Global is "finishing the deal" to buy a stake of approximately $ 500 million in one of the largest Coinbase US cryptographic companies, with a reported valuation of about $ 8 billion. Tiger is a renowned company led by experienced investors, so this investment could attract the attention of other hedge funds, some of which have sought to make a similar investment.
Although the crypto-bear market is frightening retail investors, institutional actors are taking advantage of the current fall to invest in various blockchain and crypto companies. A Diar report shows that venture capital companies have pumped nearly $ 3.9 billion into cryptographic and blockchain businesses so far in 2018. This is an increase of 280% compared to 2017.
While fundamentals are improving, price manipulation encrypted with automated trading programs, or bots, is hurting small investors and the overall reputation of the industry.
The lack of appropriate regulations encourages the use of robots for manipulative strategies. These bots are outlawed in traditional stock and derivative markets.
Therefore, retail investors should only commit an amount that they can afford to lose, and they should always negotiate with appropriate arrest losses (SL).
BTC / USD
Bitcoin has analyzed both the moving averages and the small support of the trend line. This shows that sellers have the upper hand in the short term. However, if the bulls manage to scale the price above the trendline and moving averages, they will indicate demand at lower levels.
The longer the price remains below the downtrend line of the descending triangle and moving averages, the greater the chances of a new test of the critical support zone of $ 5,900- $ 6,075.
A break in the downtrend line and $ 6,831.99 can push the pair to $ 7,400, which in turn could represent strong resistance.
We expect the BTC / USD pair to make a decisive move by next week. Because the price is close to our buying levels, we suggest traders to maintain long positions with stops at $ 5,900.
ETH / USD
Ethereum has been trading between $ 200 and $ 250 since September 14th. Moving averages have flattened, showing a balance between buyers and sellers.
The 50-day SMA is a critical overload resistance that has not been resized since May 24. A breakout at this level will be the first indication of the start of a new uptrend that will gain momentum on a close (UTC time frame) above $ 322.57.
On the downside, if bears charge less than $ 200, the ETH / USD pair can retest the recent $ 167.32 minimum. We will wait for purchases to resume before recommending long positions on it.
XRP / USD
Ripple is currently at the center of the $ 0.4255 – $ 0.625 range. The 20-day EMA is a strong support, below which the cryptocurrency can drop to $ 0.4255.
Consolidation can be expected after a strong recovery. The XRP / USD pair could resume its uptrend if it were to burst and sustain over $ 0.625.
Both moving averages are sloping and the RSI is still in the positive territory, which is a bullish signal. Therefore, traders can hold long positions with stops at $ 0.42.
BCH / USD
Bitcoin Cash has tried to stay above moving averages since September 29, but has not been able to sustain over $ 550. Stronger breakouts never look back. If the cryptocurrency does not quickly resume its move upward, it is likely that it will attract the sale.
A 20-day EMA analysis may result in a new minimum test, while a rally above $ 600 indicates strength.
The BCH / USD pair has a history of vertical rallies, so we suggest keeping the long position at $ 400.
EOS / USD
The bulls are trying to keep EOS above the 50-day SMA, which shows the purchase at lower levels. A break of this support can sink it to the next $ 5 support. The flat moving averages and the RSI close to 50 levels show the balance between the bulls and the bears.
On the upside, the EOS / USD pair tackles resistance at $ 6.0473, $ 6.3117 and $ 6.8299. The continuation of the head and shoulders model will be invalidated above $ 6.8299, which would be a bullish signal.
As the pair holds on the 50-day SMA, we recommend keeping the current long positions with $ 4.9 stops.
XLM / USD
Stellar again lowered from the downtrend line of the descending triangle on October 1 and broke below the 20-day EMA.
If the bulls close (UTC time interval) under the 20-day EMA, the XLM / USD pair may decline to 50-day SMA, which is an important support.
On the upside, the downside line breakdown will be the first indication that the trend will change. Flat moving averages and RSI near the midpoint indicate distance training. Traders can keep the SL on long positions at $ 0.21.
LTC / USD
Litecoin continues to operate within the range of $ 49.466- $ 69.279. Consolidation after a long downtrend shows that sales have run out but buyers have not yet returned in full force.
Small rallies near the upper end of the range attract short-term dealer profits and the drops at the bottom of the range attract purchases.
If the bulls come out of the range, we anticipate the start of a new uptrend. However, if the bears manage to sink the LTC / USD pair below the bottom of the range, the downtrend will resume. Traders can wait for a break out of the interval to become positive. Until then, it is better to stay on the edge.
ADA / USD
The inability of the bulls to leave the 50-day SMA has attracted the sale and Cardano has interrupted the 20-day EMA.
If the bears manage to stay below the 20-day EMA, the ADA / USD pair may move to the next support at $ 0.071355.
Any attempt to recover from the bulls will have to face a rigid resistance at 50 days SMA and $ 0.94256. The 50-day SMA is flat, but the 20-day EMA and the RSI are turning down. This shows that sellers have an advantage in the short term. Therefore, we are not proposing long positions on it.
XMR / USD
Monero has negotiated close to the 20-day EMA in the last five days. The price was entered between the downtrend line and the 50-day SMA.
If the bulls come out of the downtrend line, a rally to the resistance zone above the roof is likely to be $ 140- $ 150. In an analysis below the 50-day SMA, a fall to $ is likely. 96,39. Therefore, we suggest traders to keep their long positions with a stop at $ 100.
We are not proposing to close the position at current levels because it is not clear in which direction the XMR / USD pair will move. Furthermore, we have advised to invest only a small percentage of the usual position sizes, so the risk is low.
IOTA / USD
The IOTA has been traded within a range of $ 0.5- $ 0.6170 since September 6th. An attempt to break out on 21 September could not sustain and prices returned the next day.
Both moving averages are flat and the RSI is marginally in the negative zone. This shows a state of balance between the bulls and the bears.
The IOTA / USD pair will become bullish if it exceeds $ 6.5 and will become bearish if it falls below $ 5. It is hard to predict whether the pair will break or break. Traders who do not have a position should wait for the breakout to sustain before starting any new position. Others, which are long, should maintain a stop loss at around $ 4.6.
Market data is provided by the HitBTC exchange. Analysis charts are provided by TradingView.