- The BTC / USD hits a minimum of $ 4,212 and notes $ 3,500 in the coming days.
- The XRP / USD panics below $ 0.41, but recovers $ 0.45 amid high uncertainty.
- ETH / USD scores a minimum of $ 125 and could fall below $ 100.
If Hollywood creates the screenplay of what's happening on the Crypto Board, they would not have done better. When it seemed that the story had a hero called Ripple, untouchable and unchangeable for his environment, the scene begins where the hero savior on whom the Criptovalute civilization depended falls and exposes its weaknesses.
After a first attempt by BTC / USD at the $ 5,000 price level through the US session was dismissed, a new attempt of hours later broke that level strongly and reached $ 4,600.
We have seen the same with ETH / USD, once practiced on a psychological level of $ 150, has reached $ 137 in the Asian session.
In the short term, the indicators that we will see in the detailed analysis invite us to think about a possible short-term rebound in the next 24-36 hours. This rebound would start the graph rotation process in the daily interval. However, we will see new lows, levels unthinkable two weeks ago.
My personal opinion is that at that point, with practically all the weak and empty hands, strong hands will enter the market at full steam, buying a selection of goods that will probably leave some cryptocurrencies in the mud and raise the heads of others. However, the Crypto board will have changed hands, or whales, forever.
BTC / USD 240 minutes
The BTC / USD is currently trading at the price level of $ 4,432, drawing a chart that looks very scary. The decline is extreme and, except for a slight recovery after piercing $ 5,000 yesterday, the comeback did not last long and the sellers came back strongly.
The plumb takes away any level of purchase if there is anyone still in the market trying to take the falling knives. With this violence, it is very likely that any increase is simply a closure of short positions compared to a movement of real accumulation. The price reductions are in the early hours and there are still a few days left at Black Friday.
Below the current price, the first support for the BTC / USD is at the price level of $ 3,930 (price congestion support). The second support expects $ 3,250 (price congestion support) and the third support level at $ 2900 (price congestion support). These are levels that represent wild drops in percentage terms and which, if they occur, would raise a whole series of comments on the very survival of this market.
Above the current price, the first resistance to be consolidated at the current level is $ 4,400 (resistance to price congestion). If the BTC / USD manages to hold and close above this level, it will start to consider it as a point of support for the first major withdrawal of the current bear storm. The second level of resistance is $ 4,918 (resistance to price congestion) and could stop the short bullish attempt made yesterday. The third resistance level at $ 5,381 is a confluence of the long-term downstream baseline, a resistance to price congestion and a few dollars above the EMA50.
The 240-minute MACD shows a profile of strong bearish inclination and with very separate lines. The momentum continues to be strongly bearish and may still take some time to see a rebound of a certain intensity.
The 240-minute DMI shows how bears have absolute control of the situation. They show levels above the 50th level of the indicator, a level considered as a healthy trend. On the other hand, the bulls give up and move towards minimum standards that, if nothing else for the extremes, should react to the increase. The ADX responds to declines by increasing its trend level to levels not seen since December 2018.
XRP / USD 240 minutes
Ripple is the hope that holds firm belief that there is a future in Cryptocurrencies right now, and seeing it precipitate has raised doubts throughout the Crypto ecosystem.
Below the current price, the first support is in the long-term trend line which stands at $ 0.44 in mid-September. The second support at $ 0.429 (price congestion support) removes the XRP / USD from its bullish scenario and into the same bearish chaos scenario as Bitcoin and Ethereum. The third support at $ 0.413 (price congestion support) would be the last hope for a decline to $ 0.367 (support for price congestion).
Above the current price, the first resistance is at the price level of $ 0.48 (trend line that brings movement from the lows). If the XRP / USD can exceed this level, the second resistance to $ 0.505 (resistance to price congestion). The third resistance level is $ 0.584 (resistance to price congestion) and holds the key to a strongly bullish scenario that would aim to easily outweigh $ 1.
The 240-minute MACD has reduced the zero line, currently losing that important support and forcing to consider bearish movements in the near future. The opening between the lines is minimal for now. If the price were to rise, it would leave a divergent formation of a strong bullish component. On the contrary, price declines would accentuate the downside and we could see very strong declines.
The 240-minute DMI shows us that the bears are taking advantage of the ADX line, which would indicate a continuation of the fall in prices. The bulls decrease their activity but far from the minimum levels. ADX reacts to recent declines but in moderate trend levels.
ETH / USD 240 minutes
The ETH / USD is currently trading at the price level of $ 132 after leaving the minimum decline to support the $ 125 level indicated a few days ago. I do not think that the drop will remain here, but it is possible that from this level there will be a small rebound in the next 24-36 hours.
Below the current price, the first support in the level already commented is $ 125 (support for price congestion). The second support at $ 94 (support for price congestion) would break the mythical barrier of $ 100 and cause the titles of the best horror films. However, this could only be the title since the terror would be in the third level of support at $ 80 (support of price congestion). In the modified FXStreet chart you can see more levels.
Above the current price, the first resistance is at $ 155 (resistance to price congestion). The second resistance is at $ 170 (resistance to price congestion). Finally, as a third resistance, the EMA50 at $ 178 meets the fourth resistance at $ 180 (resistance to price congestion).
The 240-minute MACD shows a very inclined downward profile with very open lines. This structure protects the continuity of the descents at least for today.
The 240-minute DMI shows us a similar situation to that seen in the BTC / USD. The bears go to the highest levels while the bulls retreat and show no intention of entering the game. For its part, ADX reaches levels never seen since December 2018 and supports the continuity of direction and strength of the movement.