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Bitcoin
Bitcoin saw a slight retracement from its bullish rally this week after falling 6.3% in the past 7 days. The cryptocurrency started the week on a bullish level as it climbed from $ 18,000 to $ 19,500. Unfortunately, a daily candle above $ 19,265 (1,272 Fib Extension) could not be closed during the week.
Yesterday, Bitcoin fell 10% in the region of $ 17,000. The decline continued today as BTC fell into the $ 16,375 support provided by a 0.5 Fib retracement.
Looking ahead, if sellers push below $ 16,375, the first support level is expected at $ 16,000. Below that, support is found at $ 15,633 (.618 Fib), $ 15,255 and $ 15,000.
On the other hand, resistance is first predicted at $ 17,185 (2018 highs). Above this, resistance is found at $ 17,600, $ 18,000, $ 18,400 and $ 18,933. Above $ 19,000, resistance is found at $ 19,262, $ 19,500, $ 19,900 (ATH) and $ 20,000.
Ethereum
Despite falling nearly 20% in the past 4 days, Ethereum is still up 6.8% over the course of the week. The cryptocurrency was trading at the $ 470 level last Friday when it started pushing higher. On Monday, it had penetrated above the $ 600 level to reach a high of $ 620 (1,414 Fib Extension) on Tuesday.
Unfortunately, the drop in BTC prices caused ETH to drop from there as it fell to the $ 500 support level today. More specifically, buyers bounced off the $ 495 support provided by a 0.5 Fib retracement. .
Going forward, if the sellers break out of $ 500 again, the first support level is at $ 480. Below that, support is $ 465 (.618 Fib), $ 439 (Aug 2018 highs) and $ 420 (. 786 Fib).
Alternatively, the first resistance level is found at $ 520. Above this, the resistance is found at $ 550 (bearish .618 Fib), $ 580, $ 600 and $ 620 (1.414 Fib Extension).
Against Bitcoin, Ethereum also managed to climb higher during the week. It rose from 0.027 BTC last Friday and continued to break 0.03 BTC on Sunday. Earlier this week, ETH penetrated above the 100-day EMA to hit 0.033 BTC (1.618 Fib Extension).
The coin rose on Tuesday to hit 0.0337 BTC (March 2019 support), but sellers stepped in from there to push it lower. Yesterday, the ETH fell below the 100-day EMA and is now trading at the support of 0.03 BTC.
Looking ahead, if sellers push down, the first support level is found at 0.0297 BTC (.5 Fib Retracement). Below that, support is found at 0.0289 BTC (.618 Fib), 0.0295 BTC (Feb 2020 highs) and 0.0278 BTC.
Alternatively, resistance is first expected at the 100-day EMA. Above this, the resistance lies at 0.031 BTC, 0.032 BTC and 0.033 BTC. The added resistance is then found at 0.0337 BTC, 0.034 BTC and 0.035 BTC.
Ripple
Ripple outperformed the entire top 10 this week after exploding by a strong 75%, hitting the current $ 0.53 level. On Friday, the cryptocurrency was trading at the $ 0.3 level. From there, it climbed higher all week, surpassing $ 0.5 to hit a high of $ 0.75 on Tuesday.
It was unable to break out of the resistance at $ 0.75 and moved on from there. The coin then fell into support at the $ 0.5 level and is now trading at $ 0.53.
Moving forward, if buyers push up again, the first resistance level is at $ 0.556. Above this, resistance is found at $ 0.6, $ 0.65 (bearish .786 Fib), $ 0.68 (extend 1.414 Fib) and $ 0.817 (bearish .886 Fib). This is followed by resistance at $ 0.75, $ 0.77 and $ 0.8.
On the other hand, if the sellers push down, the first support level is at $ 0.5. Below that, support is found at $ 0.45, $ 0.435 (.618 Fib), $ 0.4 and $ 0.35 (.2020 highs).
XRP also performed very well against Bitcoin. The coin was trading below the 1800 SAT level last Friday when it started to rise. It managed to hit its October 2019 highs at 3785 SAT during the week, but couldn’t continue any further here.
From there, XRP lowered until support was found at 2900 SAT, which is provided by the .5 Fib retracement level. It has since bounced higher to trade at 3170 SAT.
Looking ahead, if buyers push higher, the first resistance level is at 3360 SAT (Feb 2020 high). Above this, the resistance lies at 3600 SAT, 3785 SAT and 4000 SAT.
On the other hand, the first level of support is found at 3000 SAT. Below that, support sits at 2900 SAT (.5 Fib), 2800 SAT, 2600 SAT (.618 Fib), and 2450 SAT.
Chain
Chainlink suffered a steep 10.8% price drop this week as the cryptocurrency dropped to the $ 12.15 level today. The coin is trading within a rising price channel and reached the upper limit of this channel during the week.
Unfortunately, LINK was unable to close a daily candle above the $ 15.66 resistance – provided by a 0.786 Fib bearish retracement – and from there it reversed. The coin is now trading at the lower boundary of the rising price channel.
Looking ahead, if the sellers break out of the channel, the first support level is at $ 11.50. Below that, support is found at $ 10.50, $ 10.00, $ 9.80, and $ 9.15.
On the other hand, the first resistance level is found at $ 13.86 (bearish .618 Fib). Thereafter, resistance is found at $ 15, $ 15.66 (bearish .786 Fib), $ 16 and $ 16.73 (bearish .886 Fib).
LINK has struggled a lot against Bitcoin over the past few months. It was practically trapped between 86,800 SAT and 67,400 SAT during the entire November period and has to break this range to dictate the next direction of the market.
It is currently trading closer to the lower limit of this range as it stands at 72,700 SAT.
Moving forward, if sellers push lower, the first support level is at 70,000 SAT. Below that, support sits at 67,400 SAT, 63,750 SAT, 60,000 SAT (.786 Fib) and 58,600 SAT.
Alternatively, the resistance is found at 74,200 SAT, 80,000 SAT, 85,000 SAT and 86,800 SAT. Added resistance can be found at 92.130 SAT, 98.615 SAT (bearish .382 Fib) and 100.000 SAT.
Stellar lumens
Stellar Lumens is the top performing cryptocurrency on this list this week after it managed to climb 125%. The coin is closely related to XRP, so when XRP started climbing higher this week, XLM too.
Last Friday XLM was trading at around $ 0.08 when it started to climb higher. It broke above $ 0.11 on Tuesday to explode and hit the resistance of $ 0.226 (1,414 Fib Extension). Unfortunately, it failed to close a daily candle above the $ 0.198 level (bearish .618 Fib) during the week.
It has since moved from $ 0.226 to the support at $ 0.155 (0.5 Fib). From here it bounced back to trade at $ 0.188 today.
Looking ahead, if buyers push higher, the first resistance level is expected at $ 0.198 (bearish .618 Fib). Above $ 0.2, resistance is found at $ 0.213 (1.272 Fib Extension), $ 0.226 (1.414 Fib Extension), $ 0.24 and $ 0.244 (bearish retracement .786 Fib).
On the other hand, the first support level is at $ 0.18. Below that, support is found at $ 0.174 (.382 Fib), $ 0.17 and $ 0.155 (0.5 Fib).
The situation is similar for XLM versus Bitcoin. On Friday, the coin bounced higher from the 450 SAT level and managed to push up to 1200 SAT during the week. So far, it has struggled to close a daily candle above the 1050 SAT level, but has climbed around 15% today to trade at 1130 SAT and looks like it should close higher than 1050 SAT.
Moving forward, the first resistance level is located at 1145 SAT (bearish .382 Fib). Above this, resistance is found at 1200 SAT, 1300 SAT (bearish 0.5 Fib), 1350 SAT and 1460 SAT (bearish .618 Fib).
On the other hand, the support is located at 1050 SAT, 1000 SAT, 950 SAT and 900 SAT.
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