October October top 3 crypto currency starts in the same price range, which has been trading for more than a week. Bitcoin and Ethereum are compressed between the moving averages on the four-hour chart, and Ripple, in this case, enjoys freedom, but the trend line from annual minima is strong enough and technically meaningful. Next, consider the analysis and forecast for each of the crypto-currencies in more detail.
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BTC / USD 240-Min
BTC / USD currently trades at a price level of $ 6,600, just below the simple moving average SMA200 and is closely supported by the exponential moving average of EMA50 and SMA 100.
Below the current price, the first support of BTC / USD is $ 6,564. A decline to this level technically opens the possibility of a drop to $ 6,450. This is a difficult scenario, since the SMA100 is in the middle at $ 6,257, which, in turn, can cause instability in this narrow price range. The fall can be increased in the second stage to US $ 6,390.
To see the upward movement of the pair BTC / USD, the price should exceed SMA200 at $ 6,625. If this moving average is surpassed, then the BTC / USD pair as the main target will tend to a relative maximum of $ 6.764, then the main goal will go to the level of $ 7100 with one intermediate obstacle at $ 6,851.
MACD 240-Min shows the presence of a horizontal profile and makes it very difficult to assume anything during the following periods.
The DMI 240-Min shows us bears that have a very slight advantage over the bulls. The level achieved by ADX (9.27) is very noteworthy, since this is the minimum level that was only seen twice in the last six months. Both bears and bulls move above level 20 in the so-called "bloodless battle" to pull the ADX to their side.
ETH / USD 240-Min
ETH / USD is in a very similar technical situation. Differences are observed in the MACD, where you can see a large slope and a clear bearish profile. ADX indicates that activity in ETH / USD is maintained at acceptable levels and maintains inertia in the exchange of prices.
Below the current price, the bearish signal will appear below the level of $ 223, where the EMA50 and SMA100 converge, this is also a key level of overload. The first target for ETH / USD in the opposite direction is $ 195 with a stop of $ 240. Accelerating the bearish momentum can widen the range of declines and move even to a lower level of $ 170.
Above the current price, we note a bullish signal above the price level of $ 240. To reach this level, ETH / USD will firstly exceed SMA200 – $ 232, and then last week's maximum level of $ 250. If the pair ETH / USD exceeds these relative highs, then it should smoothly move up to a price level of $ 270.
The MACD 240-Min shows us a clearly inclined profile down with many opportunities to be cut in favor of the bears. The proximity of the zero line as support can hold back the falls if they finally appear.
The DMI 240-Min shows the absolute relationship between bears and bulls. Both indicators are above the level of 20, so that both sides of the market may accelerate in the near future.
ADX remains slightly below the signal level 20 and increases the likelihood of rapid acceleration of any movement.
XRP / USD 240-Min
The pair XRP / USD moves significantly above the moving averages. Below the current price, a bearish signal appears below EMA50 at a price level of $ 0.53. The main goal is $ 0.46, just above SMA100. There is no limit to further decline if the current bullish scenario ends.
Above the current price, the barrier is 0.644 US dollars, where the trend line passes, which regulates the price from annual lows. Placement above it would accelerate the upward movement in price. Up to this level, the two lower resistors are waiting at levels of 0.60 and $ 0.63 USD.
MACD on 240-Min shows us a horizontal profile, which is only slightly inclined downward. The indicator went to the zero line.
The DMI 240-Min shows that bulls dominate the situation. On the other hand, bears are also active and, it seems, believe in a possible reduction in prices. ADX remains at high levels and will accelerate any movement of the XRP / USD pair.
And what do you think about the current situation in the crypto-currency market? Leave your opinion in the comments!
