Home / Ethereum / The latest sales leave the market ready for a year-end rally

The latest sales leave the market ready for a year-end rally



  • Coinbase launches its OTC trading platform and opens its doors to institutional investors.
  • The board of directors of Crypto adopts an unexpected positive tone that can lengthen over time.
  • The BTC and ETH appear to be better positioned than XRP to capitalize on increases.

The day starts in green in today's European session.

Today, Coinbase has announced the launch of its OTC (Over The Counter) trading platform for Cryptocurrencies.

OTC markets are traditionally used by institutional investors to negotiate without problems of negotiating large orders. These institutions move huge volumes and OTC transactions allow and certify large transactions between participants outside of level 2 books.

An essential step in the process of institutionalization of investments in the Blockchain industry. Please take note; professionals are opening important doors to the new market, they are not running away.

The technical news of the day is the bullish crossover of the indicators on the 12-hour chart in the Bitcoin and Ethereum. The case of XRP is different, as now in the charts against the BTC and the ETH is bearish. The XRP is increasing in price like them, but in the next few days it will be relatively worse than these.

Do you want to know more about my technical configuration?

BTC / USD 240 minutes.

The BTC / USD exchanges at $ 3.985 Price level. He scored the maximum of the day $ 4,069. The BTC / USD manages to beat the resistance a $ 3.925 and it is very likely that it is now going down to check the validity of the bullish break. This price level can offer a good entry option for those who are thinking of doing so.

Above the current price, the first resistance is a $ 4,200 (EMA50). The second level of resistance is a $ 4,400 (resistance to price congestion).
In the event that the BTC / USD can overcome this second level of resistance, the technical scenario would improve considerably in the short term, the exponential moving average together with the support for price congestion would provide substantial support from which to take into account price levels more high.
The third level of resistance a $ 4.920 (SMA100 and resistance to price congestion) is the opportunity to positively change the mood of the market.

Under the current price, the first level of support is $ 3.925 (support for price congestion). A close below this price level would be lethal for bullish aspirations. Second level support a $ 3,650 (support for price congestion). The third level of support a $ 3,270 (support for price congestion) would set new annual lows and bring the pessimism of the market to the extreme.

The 240-minute MACD shows a bullish cross profile. The separation between lines and inclination is positive for the price. The barrier is level 0 of the indicator. The way in which the BTC / USD will solve the encounter with this technical resistance will be decisive.

The 240-minute DMI shows an absolute balance between bears and bulls. Both are slightly above level 20, so both show the intention to continue with their trends – an indicator to follow in the next few hours.

XRP / USD 240 minutes.

The XRP / USD exchanges at $ 0.376 Price level. He set the low cycle of $ 0.323 and from that level has recovered over 10%. The technical structure of the XRP / USD is favorable in the short term, but the XRP / BTC and XRP / ETH crosses show us both that Ripple is going to do relatively worse than these. This information is essential for those considering in their operations the gains against Bitcoin or Ethereum and not only against the Dollar or the Euro.

Above the current price, the first resistance for the XRP / USD is $ 0.396 (EMA50). The second level of resistance a $ 0.413 (resistance to price congestion) is the gateway to an area densely populated by resistances. The third level of resistance a $ 0.428 (resistance to price congestion) is the key to bringing bullish strength and conviction to the market.

Under the current price, the first level of support is a $ 0.367. If the XRP / USD closes below, it would lose all the bullish momentum and would probably revert to the backdrop of new relative lows. The second level of support is a $ 0.344 (support for price congestion). The third level of support is a $ 0.32 (support for price congestion), will set new relative lows and increase the chances of seeing new annual lows for ripple.

The 240-minute MACD shows a bullish profile similar to the BTC / USD. The inclination and the opening of the lines are favorable to the price. The proximity of the average range of the indicator at level 0 will be a challenge for the price evolution.

The 240-minute DMI shows fully bound bears and bulls. Both are a little above level 20 indicating that there is a trend going on. It is an indicator to follow to see which of them will drive the market in the coming days.

ETH / USD 240 minutes.

ETH / USD is quoted on $ 115.23. He hit a maximum of $ 117.21 and now he is withdrawing looking for support to confirm the $ 110 resistance break.

Above the current price, the first level of resistance is $ 124.4 (EMA50 and resistance in price congestion). If ETH / USD can conquer this price level, the medium-term structure would be much improved. The second level of resistance is a bit far around $ 152 (SMA100 and resistance to price congestion). The third level of resistance is a $ 170 (resistance to price congestion).

Under the current price, the first level of support is a $ 110 (support for price congestion). This price level is the only significant support before a possible fall to new annual lows. The second level of support awaits the annual lows of $ 100.85 it is weak support and ETH / USD could easily punch it. The third level of support awaits a $ 81 (support for price congestion) is an extreme level but can not be excluded.

The 240-minute MACD shows a profile similar to that of its fellow analysts. The indicator has an inclination and the opening of positive lines for the price. Level 0 of the MACD indicator also threatens the evolution of Eth / USD.

The 240-minute MACD shows a profile similar to that of its fellow analysts. The indicator has an inclination and the opening of positive lines for the price. Level 0 of the MACD indicator also threatens the evolution of Eth / USD.

The 240-minute DMI shows a link between bears and bulls. Bears reacted quickly to bull increases, and both are at the level that indicates the existence of a current trend.

Receive Crypto updates 24 hours a day on our social media channels: give a follow-up to @FXSCrypto and our Telegram channel of Trading Crypto FXStreet


Source link