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Bitcoin
Bitcoin’s price surge continued this week and managed to rise 4.5% to reach $ 13.60 at the time of writing. The coin traded slightly above $ 13,000 last Friday and moved sideways along this level over the weekend.
Bitcoin started climbing higher on Tuesday when it broke the resistance at $ 13,415, climbed above $ 13,500 and reached the resistance at $ 13,815 (1,272 Fib Extension). The bulls failed to close a daily candle above this resistance, which led Bitcoin to drop as low as $ 13,000 on Wednesday.
Since then, Bitcoin has been trading sideways in a wide range of $ 13,815 to $ 13,000.
Looking ahead, if buyers push up again, the first resistance level is at $ 13,500. Thereafter, the resistance lies at $ 13,815, $ 14,000, $ 14,190 and $ 14,500 (1,618 Fib Extension).
On the other hand, if sellers push down, the first strong support level is found at $ 13,000 (.236 Fib Retracement). The added support is then found at $ 12,750, $ 12,500 (.382 FIb Retracement), $ 12,236 (downside 1,618 Fib Extension), $ 12,100 (.5 Fib) and $ 12,000.
Ethereum
Ethereum saw a steep 8.3% price drop this week as it falls into the $ 380 support (.5 Fib Retracement). On Friday, Ethereum struggled to break out of the overhead resistance at $ 416 provided by a bearish retracement of .618 Fib. It rolled over from here and started dropping during the week, dropping below $ 400.
Initially, Ethereum managed to find support at $ 389 (.382 Fib Retracement). However, sellers broke out of this support today as it plunged to the $ 377 (.5 Fib Retracement) level.
Going forward, if the sellers break out of $ 377, the first support level is at $ 364 (2019 high). Below that, support is found at $ 355 (100-day EMA), $ 350 and $ 342.
On the other hand, if buyers can bounce off $ 377, resistance lies at $ 390, $ 400, $ 410, and $ 416.
Against Bitcoin, Ethereum struggled heavily this week reaching 0.0284 BTC (Feb 2020 highs). The coin was trading above 0.031 BTC earlier in the week as it traded at the 100-day EMA resistance. From there, ETH dipped lower as it plunged below 0.031 BTC and 0.030 BTC in a couple of days.
The coin has continued to plummet over the past few days, dipping below the 200-day EMA and 0.029 BTC to reach the current support at 0.0284 BTC.
Looking ahead, if the sell continues to break 0.0284 BTC, support is found at 0.0281 BTC, 0.0278 BTC and 0.027 BTC.
On the other hand, resistance is first expected at 0.029 BTC. This is followed by resistance at the 200-day EMA, 0.03 BTC and 0.0305 BTC.
Ripple
Ripple also saw a rather sharp 7.8% price drop this week as the coin dips below the 200-day EMA to the $ 0.237 level. On Friday, XRP was trying to break through the resistance on a declining trend line, but it failed. As a result, the currency dipped during the week and broke below the 100-day EMA yesterday.
Today, XRP continued to fall below an ascending trend line (the lower bound of a triangle) to break below the 200-day EMA and reach the current support of $ 0.237. XRP was up as low as $ 0.23 today, but buyers have since pushed the price higher.
Moving forward, if the selling continues below $ 0.237, support initially lies at $ 0.23. This is followed by support at $ 0.228 (0.618 Fib), $ 0.22 and $ 0.217.
On the other hand, the first resistance level is at $ 0.24. The added resistance is found at $ 0.245 (100-day EMA), $ 0.251 (bearish .382 Fib) and $ 0.261 (bearish 0.5 Fib).
XRP is currently in a terrible downward spiral against BTC and has hit lows that were not since December 2017 this week. He was trying to reclaim resistance at last Friday’s 2000 SAT, but failed and crashed over the weekend.
The collapse in prices continued throughout the week as the XRP hit the 1755 SAT today. Buyers have since pushed it slightly higher to trade near the 1780 SAT, but the situation is extremely bearish.
Looking ahead, the sale is likely to continue. If sellers push below 1755 SAT, additional support is found at 1730 SAT, 1700 SAT, 1680 SAT, 1650 SAT, and 1600 SAT.
On the other hand, the resistance is found at 1800 SAT, 1865 SAT and 1900 SAT.
Chain
LINK has experienced an 8.6% price drop in the past week as it approaches the lower boundary of an ascending price channel. The coin was trading at the upper limit of this price channel earlier in the week but failed to break out of it. A bearish .5 Fib retracement further strengthens the upper bound at $ 12.75.
As a result, LINK rolled over and started falling during the week, dropping below $ 11.50 to hit the current $ 10.95 level.
Looking ahead, if the bears push LINK lower, the first support level is at $ 10.50, the lower end of the price channel. If the sellers break out of the channel, support is found at $ 10, $ 9.80, $ 9.00 and $ 8.77.
On the other hand, if buyers can bounce to the lower boundary, resistance is found at $ 11.50, $ 12 and $ 12.75 (0.5 Fib bearish retracement).
Against Bitcoin, LINK is also down this week. Last Friday it was trading close to 100,000 SAT, but has started to drop from here. It fell below 90,000 SAT during the week and fell below a rising trend line yesterday to hit 80,777 SAT today.
Moving forward, if sellers break below 80,777 SAT, the first support level is at 80,000 SAT. Below that, support is found at 75,600 SAT (1.414 Fib extension to the downside), 70,000 SAT, 68,400 SAT and 60,000 SAT (.786 Fib Retracement).
On the other hand, the resistance lies at 86,800 SAT. Above this, resistance is expected at 90,000 SAT, 94,300 SAT and 100,000 SAT (bearish retracement .382 Fib).
Binance Coin
BNB also suffered a 7.6% drop in price this week as it drops to the $ 28.17 support (.382 Fib Retracement). BNB managed to break above $ 32 on Tuesday, but sellers quickly stepped in to push the coin lower.
Today, BNB fell sharply below $ 30 and continued to decline until support was found at $ 27.54 (downward extension of 1.272 Fib). It bounced from here and is now trading at $ 28.17 (.382 Fib).
Looking forward, if the bulls can continue to bounce off the current support, the first resistance level is at $ 29.30. This is followed by resistance at $ 30, $ 30.72, $ 31.30 and $ 32.
On the other hand, if sellers push below $ 28.17, support is found at $ 27.55, $ 27 (0.5 Fib), $ 26.34 (fownside 1.618 Fib Extension), and $ 25 , 84 (.618 Fib).
Against Bitcoin, BNB today created a new low in October at the level of 0.00207 BTC (downward extension of 1.272 Fib). The coin traded at around 0.00236 BTC last Friday, and on Monday and Tuesday it rose to hit 0.00242 BTC. He was unable to break this resistance, which caused the coin to flip over and the head drooping.
Today, BNB fell below the support at 0.0222 BTC (.618 Fib), and fell further down to reach the support at 0.00212 BTC, where it is currently trading.
Going forward, if the sellers continue to push down, the first support level is found at 0.00206 BTC (downside 1.272 Fib Extension). Thereafter, support is found at 0.002 BTC (.786 Fib), 0.00194 BTC and 0.0019 BTC.
Resistance is expected at 0.0022 BTC, 0.0023 BTC and 0.00235 BTC.
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