Home / Others / Monero Advocate organizes XMR meetings in the Netherlands, the closest on 10 January

Monero Advocate organizes XMR meetings in the Netherlands, the closest on 10 January

Buyers take the initiative while the bears rest during the weekend. The market is active, at least for now.

Last weekend, the depressed cryptocurrency market was slightly animated not so much by the volumes traded, which are still insufficient for a change or a solid confirmation of the trend, but by the news cycle. Although there has been an increase in buyer activity, it is still not enough for the radical change that everyone is waiting for, without actually making any effort to speed it up.

George Soros changes his mind about Bitcoin

The main journalist was George Soros, who had previously spoken of Bitcoin as a bubble he did not want to face. Time passes, people change (even at age 87) and the Soros fund starts trading in cryptocurrency.

April Fools by Ethereum

The second person who has been in the limelight of the crypto community in the last days is Vitalik Buterin. It seems that there was some truth in April's joke about putting a hard cap on Ethereum, or at least these measures were actively discussed by the developers. Usually, the deflation mechanisms that are incorporated into assets with a capitalization increase the price of assets over time. We will see how this innovation (if implemented) will influence the price of Ethereum.

At the start of the new week, the total market capitalization is $ 270 billion, which is $ 15 billion more than on Friday, April 06. The bitcoin domain has slightly decreased and is 44.7%. In the top 10, NEO is leading with a gain of 13%, followed by Ethereum with 6% and the rest of the activities increased on average by 2-3% during the day.

Soros-Controlled Fund: plans for the exchange of cryptographic assets: Bloomberg


Bitcoin buyers managed to make a small miracle on the weekend and keep the price on top two important supports. However, let us not be fooled – this was only possible because the bears did not show any serious resistance. In any case, at the time of writing the price is $ 7,100, which is $ 500 more than at the end of last week.

The key resistance today is the range of $ 7,200 – $ 7,300. If the bulls manage to overcome it, a potential trend reversal will begin to take shape. Above, the price will meet the upper limit of the last parallel descending channel, which represents a serious obstacle to growth.

The support levels that should help buyers succeed are $ 6,900, where the boundary of one of the parallel channels intersects with the 0,382 value of the Fibonacci grid and $ 6,800, represented by the long-term ascending channel boundary.

The previous four-hour candle is green and full of good volumes, which can instill confidence in investors and lead to further purchases during the day. If this is enough to break the global downtrend – we'll find out very soon.


The awakening in the field of the developers of Ethereum gave birth to the heritage and finally we see a slight increase in volumes. Also, it should be noted that the $ 360 – $ 365 area has become a support, which seems reliable enough for now.

A figure that resembles a saucer was formed on the Ethereum price table. The logic of this formation is that of overturning, however, for its activation, substantial purchases are needed at the level of $ 415.

In this case, a local turnaround can help the resource reach the $ 440 zone, where it will encounter the strong storm cloud of strong resistance in the form of a specular level, a strong level of 0.382 Fibonacci and the boundary of one of the parallel channels.

These bastions are not taken at the first attempt, so you can expect a fall in prices. How strong this solution will be, and how buyers and sellers will respond, will determine the further prospects of Ethereum.

Soros-Controlled Fund: plans for the exchange of cryptographic assets: Bloomberg


What the Ethereum buyers have yet to achieve, fans of his Chinese brother have already achieved – the NEO chart can be used as a visual aid for beginners traders on the subject of "technical analysis figures". We see a fully activated disc: the breaking of the neck of the figure caused a phenomenal increase in volumes comparable to the purchases of the corrections of February 6 and March 18.

The bulls will have difficulty maintaining the established pace – although the NEO has shown rapid growth in a short time before, for this to happen, the market must meet certain prerequisites.

If the price earns a point above $ 55, where the activity is traded at the moment, we can expect a sideways movement during the day with an average maximum of $ 58. This will allow the bulls to draw a beautiful flag and pass stormy $ 60- $ 62.

However, if the price falls from current values, we expect a correction with the Fibonacci 0.236 level test, corresponding to $ 53. At present, NEO seems better than the rest of the market, but it is essential to remain vigilant: Bitcoin remains undecided on direction of his movement.

Cryptocurrency Council focused on the smart contract NEO announces new reports on hires and releases


The Monero card looks like NEO again, but so far we can not see either the figure or the volumes. It is an alarming sign that buyers have not shown activity even after the interruption of the parallel descending channel. Although, in the last two weeks, XMR has often achieved better results than the market and now deserves a little rest.

Sellers have not been able to lower the price below $ 160 and now it has become a support with triple confirmation. Given a stable Bitcoin, Monero's price should not fall so low, but this level should be kept in mind.

While the resource is trading on this, there is nothing to worry about. In the case of continued upward movement, the next bull target is $ 190, where a double top will be formed. Furthermore, the level coincides with the Fibonacci extension to 0.382 and therefore will be difficult to overcome.

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