The market crashes at the first serious resistance

A hectic week in which the Crypto market has reacted to the upside since September does not start at its end. The year is so weak that five consecutive days on the upside have made headlines.
The feeling about cryptocurrencies has changed a lot and has changed from one year to another. A year ago today the euphoria brought the BTC / USD close to $ 20,000, and today pessimism hampers a slow and very controversial turnaround.

The technical indicators have reversed and are starting to propose a bullish change, but there is so much bearish inertia that only this change seems to have temporarily exhausted the strength of the bulls.
The ETH / BTC chart still shows room for improvement up to the first significant resistance, so we still have the potential for an increase until the end of the year. What will happen then will be decisive not only in the short term, but also in the medium and long term.

Do you want to know more about my technical configuration?

Daily chart BTC / USD

The BTC / USD in the daily range peaked yesterday at the price level of $ 4,171. It is not a technically significant area, and it is possible that the stop is because the XRP / USD has reached a long-term trend line that has shortened its evolution and hit the market as a whole.

Above the current price, the first resistance level is a $ 4,400 (resistance to price congestion and EMA50). It is a powerful resistance, but if the BTC / USD can overcome it, it will quickly go to the second level of resistance a $ 4,923 (resistance to price congestion). The third level of resistance is a $ 5.250 (the basic trend of the long-term channel down and SMA100).

Significant risks await below the current price. The image has improved but not enough to rule out new cliff walks. The first level of support is al $ 3.920 price level (price congestion support). The second level of support is $ 3,250 (support for price congestion). The third level of support beyond the annual lows is $ 2,882 (support for price congestion).

The MACD in the daily range further improves its bullish profile and increases both the upward inclination and the opening between the lines. This configuration is positive for the price but so steep that some downward adjustment could occur.

The DMI in the daily range shows us how the bulls take control of the minimum. The conquest has its tribute on them, and at this moment they show weakness. The next days will be very important.

Daily XRP / USD chart

The XRP / USD in the daily range is currently trading at $ 0.376 Price level. Yesterday, the XRP / USD reached the long-term downtrend channel baseline. It failed to close above the line and today weakens not only Ripple but the market as a whole.

At the moment there is a struggle to overcome this resistance level a $ 0.3800. A close above would give the wings of the market, and we could see a robust end-of-year gathering.

Above the current price, the first resistance is a $ 0.3800 (base of long-term bear channel and EMA50). The second level of resistance is a $ 0.4130 (resistance to price congestion). The third level of resistance a $ 0.4250 (resistance to price congestion, SMA100 and SMA200) is a crucial level. In addition to the accumulation of obstacles, at this level, the SMA100 passes over the SMA200. If the XRP / USD manages to rise up to that point, the increase will be significant.

Under the current price, the first level of support is $ 0.367 (support for price congestion). The second level of support is $ 0.345 (support for price congestion). The third level of support is a $ 0.322.

Even the MACD in the daily range has improved its bullish profile. Increases the slope and the opening between medium – strong upside potential with possible inversions.

The DMI in the daily range shows us how the bulls have taken control of the market. Today they are paying for the effort and showing weakness. The bears, on the other hand, are withdrawing and are already moving below the level 20, losing the trend category.

Daily ETH / USD chart

ETH / USD is currently trading at the price level of $ 116.22. Today the critical level of $ 120 it was reached, where the sellers appeared. Ethereum has not just taken the initiative of the market, renouncing essential leadership to see in a coherent bull market.

Above the current price, the first resistance is a $ 124 (resistance to price congestion). The second level of resistance is a $ 133 (EMA50). The third level of resistance is a $ 155 (resistance to price congestion).

Under the current price, the first level of support is a $ 94.5 (support for price congestion). The second level of support is $ l & # 39; 80 (support for price congestion and annual minimum). The third level of support is $ 70 (support for price congestion).

The MACD in the daily range shows an improvement in the bullish potential. The bullish inclination and the opening between the moving averages increase.

The DMI in the daily range shows us that in the case of the ETH / USD the tori have not achieved control and are still contesting the dominance of the market. This weakness of Ethereum hurts the rest of the market.

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