EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 20th, 2020

EOS

EOS rose by 1.35% on Monday. Following on from a 1.06% gain on Sunday, EOS ended the day at $2.5834.

A mixed start to the day saw EOS fall an early morning intraday low $2.5239 before making a move.

EOS fell through the first major support level at $2.5246 before rallying to a late afternoon intraday high $2.6151.

The rally saw EOS break through the first major resistance level at $2.5676 and the second major resistance level at $2.5859.

A late pullback, however, saw EOS fall back through the second major resistance level to end the day at sub-$2.5850 levels.

At the time of writing, EOS was down by 0.32% to $2.5751. A mixed start to the day saw EOS rise to an early morning high $2.5871 before falling to a low $2.5684.

EOS left the major support and resistance levels untested early on.

EOS/USD 20/10/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall back through the $2.5741 pivot level to support a run at the first major resistance level at $2.6244.

Support from the broader market would be needed, however, for EOS to break out from Monday’s high $2.6151.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall back through the pivot level at $2.5741 would bring the first major support level at $2.5332 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.50 and the second major support level at $2.4829.

Looking at the Technical Indicators

First Major Support Level: $2.5332

First Major resistance Level: $2.6244

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen rallied by 7.19% on Monday. Reversing a 2.53% slide from Sunday, Stellar’s Lumen ended the day at $0.08518.

It was a bullish start to the day. Stellar’s Lumen rallied from an early morning intraday low $0.07939 to an early afternoon intraday high $0.08747.

The rally saw Stellar’s Lumen break through the day’s major resistance levels before an afternoon pullback.

Stellar’s Lumen fell back through the third major resistance level at $0.08629 to wrap up the day at $0.085 levels.

At the time of writing, Stellar’s Lumen was down by 0.34% to $0.084888. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.085321 before falling to a low $0.084087.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 20/10/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.08401 pivot to support a run at the first major resistance level at $0.08864.

Support from the broader market would be needed, however, for Stellar’s Lumen to break out from Monday’s high $0.08747.

Barring another broad-based crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $0.08401 pivot level would bring the first major support level at $0.08056 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should continue to steer clear of sub-$0.080 levels. The second major support level sits at $0.07593.

Looking at the Technical Indicators

First Major Support Level: $0.08056

First Major Resistance Level: $0.08864

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX slipped by 0.12% on Monday. Partially reversing a 0.47% gain from Sunday, Tron’s TRX ended the day at $0.025999.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.025509 before making a move.

Tron’s TRX fell the first major support level at $0.02550 before striking an early afternoon intraday high $0.026296.

Tron’s TRX broke through the first major resistance level at $0.02621 before sliding back to sub-$0.02580 levels,

Finding late support, Tron’s TRX moved back through to $0.0259 levels to limit the loss on the day.

At the time of writing, Tron’s TRX was down by 0.86% to $0.025775. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.02599 before falling to a low $0.02558.

Tron’s TRX left the first major support level at $0.02557 early on.

TRX/USD 20/10/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.02593 pivot level to support a run at the first major resistance level at $0.02636.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.026296.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the $0.02593 pivot level would bring the first major support level at $0.02557 back into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level at $0.02515 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.02557

First Major Resistance Level: $0.02636

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 20th, 2020

Ethereum

Ethereum rose by 0.21% on Monday. Following on from a 2.74% rally on Sunday, Ethereum ended the day at $379.36.

It was a bearish start to the day. Ethereum fell to an early morning intraday low $372.89 before making a move.

Steering clear of the first major support level at $371.03, Ethereum rallied to a late afternoon intraday high $384.69.

Ethereum broke through the first major resistance level at $382.41 before a pullback to $376 levels and into the red.

Finding late support, however, Ethereum moved back through to $379 levels to end the day in the green.

At the time of writing, Ethereum was down by 0.09% to $379.00.  A mixed start to the day saw Ethereum rise to an early morning high $379.65 before falling to a low $379.00.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 20/10/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $378.98 pivot to support a run at the first major resistance level at $385.07.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $384.69.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test the second major resistance level at $390.78 before any pullback.

Failure to avoid a fall through the $378.98 pivot would bring the first major support level at $373.27 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 38.2% FIB of $367 and the second major support level at $367.18.

Looking at the Technical Indicators

First Major Support Level: $373.27

Pivot Level: $378.98

First Major Resistance Level: $385.07

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 0.92% on Monday. Following on from a 1.39% gain on Sunday, Litecoin ended the day at $48.02.

Tracking the broader market, Litecoin slid to an early morning intraday low $46.60 before making a move.

The pullback saw Litecoin fall through the first major support level at $46.93 before striking a mid-afternoon intraday high $48.48.

Litecoin broke through the first major resistance level at $48.10 before easing back to sub-$48 levels.

Finding late support, however, Litecoin broke back through the first major resistance level before wrapping up the day at $48.02.

At the time of writing, Litecoin was down by 0.21% to $47.92. A bearish start to the day saw Litecoin fall from an early morning high $48.02 to a low $47.85.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 20/10/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $47.70 pivot to support a run at the first major resistance level at $48.80.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $48.48.

Barring an extended crypto rally, the first major resistance level and resistance at $49 would likely cap any upside.

In the event of another breakout, Litecoin would likely test resistance at $50 before any pullback. The second major resistance level sits at $49.58.

Failure to avoid a fall through the $47.70 pivot level would bring the first major support level at $46.92 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $45.82.

Looking at the Technical Indicators

First Major Support Level: $46.92

Pivot Level: $47.70

First Major Resistance Level: $48.80

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rallied by 1.42% on Monday. Following on from a 0.63% rise on Sunday, Ripple’s XRP ended the day at $0.24574.

A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.24035 before making a move.

Steering clear of the first major support level at $0.2406, Ripple’s XRP rallied to a late afternoon intraday high $0.24968.

Ripple’s XRP broke through the day’s major resistance levels before falling back to sub-$0.246 levels.

The pullback saw Ripple’s XRP fall back through the third major resistance level at $0.2480.

At the time of writing, Ripple’s XRP was down by 0.08% to $0.24555. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.24604 before falling to a low $0.24555.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 20/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2453 pivot to support a run at the first major resistance level at $0.2502.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.24968.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.2546 would likely come into play. Resistance at $0.26 would likely cap any upside, however.

Failure to avoid a fall through the $0.2453 pivot would bring the first major support level at $0.24080 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.24 levels. The second major support level sits at $0.2359.

Looking at the Technical Indicators

First Major Support Level: $0.2408

Pivot Level: $0.2453

First Major Resistance Level: $0.2502

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

Bitcoin and Ripple’s XRP – Weekly Technical Analysis – October 19th, 2020

Bitcoin

Bitcoin rose by 1.18% in the week ending 18th October. Following a 6.53% gain from the week prior, Bitcoin ended the week at $11,518.0.

It was a choppy start to the week. Bitcoin fell to a Monday intraweek low $11,111.0 before finding support.

Steering clear of the first major support level at $10,782, Bitcoin bounced back to a Monday intraweek high $11,740.0.

Coming up against the first major resistance level at $11,746, Bitcoin fell back to $11,210 levels and into the red on Friday.

A relatively bullish end to the week, coming off the back of 2 consecutive days in the green delivered the upside for the week.

4 days in the green that included a 1.54% gain on Monday delivered the upside for the week. A 1.60% slide on Friday, limited the upside for the week, however.

For the week ahead

Bitcoin would need to avoid a fall through $11,456 pivot to support a run the first major resistance level at $11,802.

Support from the broader market would be needed for Bitcoin to break out from last week’s high $11.740.0.

Barring an extended crypto rally, the first major resistance level and last week’s high $11,740.0 would likely cap any upside.

In the event of a breakout, Bitcoin could test resistance at $12,000 before any pullback. The second major resistance level sits at $12,085.

Failure to avoid a fall through the $11,456 pivot would bring the first major support level at $11,173 into play.

Barring an extended sell-off, Bitcoin should steer clear of sub-$11,000 support levels. The second major support level sits at $10,827

At the time of writing, Bitcoin was down by 0.31% to $11,482.0. A mixed start to the week saw Bitcoin hit an early Monday morning high $11,550.0 before falling to a low $11,459.1.

Bitcoin left the major support and resistance levels untested at the start of the week.

BTC/USD 19/10/20 Daily Chart

Ripple’s XRP

Ripple’s XRP slid by 5.21% in the week ending 18th October. Reversing a 3.07% gain from the previous week, Ripple’s XRP ended the week at $0.24216.

It was a mixed start to the week. Ripple’s XRP rose to a Tuesday intraweek high $0.25998 before hitting reverse.

Falling short of the first major resistance level at $0.2638, Ripple’s XRP slid to a Friday intraweek low $0.23783 and into the deep red.

Ripple’s XRP fell through the first major support level at $0.2438 before finding support through the weekend.

In spite of 2 consecutive days in the green, however, Ripple’s XRP failed to break back through the first major support level.

3-days in the red that included a 2.89% slide on Tuesday and a 2.36% fall on Friday delivered the downside for the week.

For the week ahead

Ripple’s XRP would need to move through the $0.2467 pivot level to support a run at the first major resistance level at $0.2555.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2550 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $0.25998 would likely cap any upside.

In the event of a breakout, Ripple’s XRP could test resistance at $0.26 before any pullback. The second major resistance level sits at $0.2688.

Failure to move through the $0.2467 would bring the first major support level at $0.2333 into play.

Barring an extended crypto market sell-off, however, Ripple’s XRP should steer clear well clear of sub-$0.23 levels. The second major support level sits at $0.2245.

At the time of writing, Ripple’s XRP was down by 0.01% to $0.24214. A mixed start to the week saw Ripple’s XRP rise to an early Monday morning high $0.24281 before falling to a low $0.24203.

Ripple’s XRP left the major support and resistance levels untested at the start of the week.

XRP/USD 19/10/20 Daily Chart

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 19th, 2020

EOS

EOS rose by 1.06% on Sunday. Reversing a 0.69% loss from Saturday, EOS ended the week down by 4.12% to $2.5494.

It was a bullish start to the day. EOS rose from an early morning intraday low $2.5181 to an early afternoon intraday high $2.5611.

EOS broke through the first major resistance level at $2.5571 before falling back to sub-$2.54 levels.

Avoiding sub-$2.52 levels and the red, EOS move back through to $2.55 levels before wrapping up the week at $2.54 levels.

At the time of writing, EOS was down by 0.51% to $2.5363. A mixed start to the day saw EOS rise to an early morning high $2.5588 before falling to a low $2.5296.

EOS left the major support and resistance levels untested early on.

EOS/USD 19/10/20 Hourly Chart

For the day ahead

EOS would need to move back through the $2.5429 pivot level to support a run at the first major resistance level at $2.5676.

Support from the broader market would be needed, however, for EOS to break out from Sunday’s high $2.5611.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move back through the pivot level at $2.5429 would bring the first major support level at $2.5246 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.50 and the second major support level at $2.4999.

Looking at the Technical Indicators

First Major Support Level: $2.5246

First Major resistance Level: $2.5676

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen fell by 2.53% on Sunday. Partially reversing a 2.92% gain from Saturday, Stellar’s Lumen ended the week up by 2.93% to $0.07947.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.08219 before hitting reverse.

Falling short of the first major resistance level at $0.08474, Stellar’s Lumen slid to a late intraday low $0.079185.

Steering clear of the first major support level at $0.07805, Stellar’s Lumen moved back through to $0.07940 levels to limit the loss.

At the time of writing, Stellar’s Lumen was up by 0.83% to $0.080127. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.079387 before rising to a high $0.080127.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 19/10/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.08028 pivot to support a run at the first major resistance level at $0.08138.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.081 levels.

Barring another broad-based crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $0.08028 pivot level would bring the first major support level at $0.07837 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should steer clear of sub-$0.078 levels. The second major support level sits at $0.07728.

Looking at the Technical Indicators

First Major Support Level: $0.07837

First Major Resistance Level: $0.08138

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX rose by 0.47% on Sunday. Following on from a 0.31% gain on Saturday, Tron’s TRX ended the week down by 2.19% to $0.02592.

A mixed start to the day saw Tron’s TRX fall to an early morning intraday low $0.02555 before making a move.

Steering clear of the first major support level at $0.02534, Tron’s TRX struck a mid-morning intraday high $0.02617.

Falling short of the first major resistance level at $0.02626, Tron’s TRX fell back to sub-$0.026 levels.

A choppy 2nd half of the day saw resistance at $0.026 pin Tron’s TRX back on the day.

At the time of writing, Tron’s TRX was down by 0.76% to $0.02572. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.02611 before falling to a low $0.02572.

Tron’s TRX left the major support and resistance levels untested early on.

TRX/USD 19/10/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.02588 pivot level to support a run at the first major resistance level at $0.02621.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.026 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $0.02617 would likely cap any upside.

Failure to move through the $0.02588 pivot level would bring the first major support level at $0.02559 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level at $0.02526 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.02559

First Major Resistance Level: $0.02621

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob

The Crypto Daily – Movers and Shakers – October 19th, 2020

Bitcoin, BTC to USD, rose by 1.25% on Sunday. Following on from a 0.44% gain on Saturday, Bitcoin ended the week up by 1.18% to $11,518.0.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $11,364.9 before making a move.

Steering clear of the first major support level at $11,294, Bitcoin rallied to a final hour intraday high $11,520.0.

Bitcoin broke through the first major resistance level at $11,437 and the second major resistance at $11,499.

The near-term bullish trend remained intact, supported by the latest move back through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Sunday.

Crypto.com Coin slid by 9.12% to buck the trend on the day.

It was a bullish day for the rest of the majors, however.

Chainlink (+2.88%), Ethereum (+2.74%), and Polkadot (+2.00%) led the way.

Binance Coin (+1.52%), Cardano’s ADA (+1.49%), and Litecoin (+1.39%) also found strong support.

Bitcoin Cash ABC (+0.57%), Bitcoin Cash SV (+0.80%), and Ripple’s XRP (+0.63%) trailed the front runners on the day.

It was also a mixed week for the crypto majors in the week ending 18th October.

Crypto.com Coin slumped by 21.56% to lead the way down.

Bitcoin Cash SV (-6.73%), Litecoin (-5.73%), Polkadot (-4.29%), and Ripple’s XRP (-5.21%) also saw red.

Binance Coin (+7.57%), Bitcoin Cash ABC (+3.71%), Cardano’s ADA (+0.87%), Chainlink (+0.75%), and Ethereum (+1.12%) joined Bitcoin in the green, however.

For the week, the crypto total market rose to a Monday high $365.23bn before falling to a Friday low $343.10. At the time of writing, the total market cap stood at $353.28bn.

Bitcoin’s dominance fell to a Monday low 59.47% before rising to a Friday high 60.45%. At the time of writing, Bitcoin’s dominance stood at 60.18%.

This Morning

At the time of writing, Bitcoin was down by 0.31% to $11,482.0. A mixed start to the day saw Bitcoin rise to an early morning high $11,550.0 before falling to a low $11,479.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day for the crypto majors.

Bitcoin Cash SV and Ripple’s XRP were up by 0.01% and by 0.06% respectively to buck the trend early on.

It was a bearish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was down by 1.23% to lead the way down.

BTC/USD 19/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $11,468 to bring the first major resistance level at $11,570 back into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $11,550.0.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test the second major resistance level sits at $11,623.

Failure to avoid a fall through the $11,468 pivot would bring the first major support level at $11,415 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$11,400 support levels. The second major support level sits at $11,313.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 19th, 2020

Ethereum

Ethereum rallied by 2.74% on Sunday. Following on from a 0.8% gain on Saturday, Ethereum ended the week up by 1.12% to $378.58

It was a bullish end to the week. Ethereum rallied from an early morning intraday low $367.31 to a final hour intraday high $378.69.

The day-long rally saw Ethereum break through the first major resistance level at $371.51 and the second major resistance level at $374.55.

At the time of writing, Ethereum was down by 0.11% to $378.16. A mixed start to the day saw Ethereum rise to an early morning high $379.94 before falling to a low $378.01.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 19/10/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $374.86 pivot to support a run at the first major resistance level at $382.41.

Support from the broader market would be needed, however, for Ethereum to break through to $380 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test the second major resistance level at $386.24 before any pullback.

Failure to avoid a fall through the $374.86 pivot would bring the first major support level at $371.03 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the 38.2% FIB of $367. The second major support level sits at $363.48.

Looking at the Technical Indicators

First Major Support Level: $371.03

Pivot Level: $374.86

First Major Resistance Level: $382.41

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 1.39% on Sunday. Partially reversing a 1.49% loss from Saturday, Litecoin ended the week down by 5.73% to $47.58.

It was a relatively bullish start to the day. Litecoin rise from an early morning intraday low $46.81 to an early afternoon intraday high $47.98.

The morning rally saw Litecoin break through the first major resistance level at $47.62 before easing back.

Litecoin fell back to a 2nd half low $47.27 before wrapping up the day at $47.5 levels.

At the time of writing, Litecoin was down by 0.23% to $47.47. A mixed start to the day saw Litecoin rise to an early morning high $47.67 before falling to a low $47.47.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 19/10/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $47.46 pivot to support a run at the first major resistance level at $48.10.

Support from the broader market would be needed, however, for Litecoin to break back through to $48 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s high $47.98 would likely cap any upside.

In the event of another breakout, Litecoin would likely test resistance at $49 before any pullback. The second major resistance level sits at $48.63.

Failure to avoid a fall through the $47.46 pivot level would bring the first major support level at $46.93 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $46.29.

Looking at the Technical Indicators

First Major Support Level: $46.93

Pivot Level: $47.46

First Major Resistance Level: $48.1

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 0.63% on Sunday. Following on from a 0.17% gain on Saturday, Ripple’s XRP ended the week down by 5.21% to $0.24216.

A bullish start to the day saw Ripple’s XRP rise from an early morning intraday low $0.24040 to an early afternoon intraday high $0.24342.

Ripple’s XRP broke through the first major resistance level at $0.2428 before falling back to sub-$0.2425 levels.

At the time of writing, Ripple’s XRP was up by 0.27% to $0.24281. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.24229 to a high $0.24281.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 19/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2420 pivot to support a run at the first major resistance level at $0.2436.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.24342.

Barring an extended crypto rally, the first major resistance level and Sunday’s high would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.2450 would likely come into play.

Failure to avoid a fall through the $0.2420 pivot would bring the first major support level at $0.2406 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.2350 levels. The second major support level at $0.2390 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2406

Pivot Level: $0.2420

First Major Resistance Level: $0.2436

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – October 18th, 2020

Bitcoin, BTC to USD, rose by 0.44% on Saturday. Partially reversing a 1.62% fall from Friday, Bitcoin ended the day at $11,375.0.

It was a mixed start to the day. Bitcoin fell to an early morning low $11,290.0 before striking a mid-morning high $11,388.0.

Leaving the major support and resistance levels untested, Bitcoin slid to an early afternoon intraday low $11,275.0.

Steering clear of the first major support level at $11,176, Bitcoin hit a mid-afternoon intraday high $11,418.0 before easing back.

Falling short of the first major resistance level at $11,511, Bitcoin fell back to end the day at sub-$11,400 levels.

The near-term bullish trend remained intact, supported by the latest move back through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Bitcoin Cash ABC (-1.52%), Bitcoin Cash SV (-0.19%), Crypto.com Coin (-1.91%), and Litcoin (-1.49%) saw red on the day..

Binance Coin (+0.53%), Cardano’s ADA (+1.61%), Chainlink (+0.31%), Ethereum (+0.80%), Polkadot (+1.16%), and Ripple’s XRP (+0.17%) joined Bitcoin in the green.

In the current week, the crypto total market rose to a Monday high $365.23bn before falling to a Friday low $343.10. At the time of writing, the total market cap stood at $350.42bn.

Bitcoin’s dominance fell to a Monday low 59.47% before rising to a Friday high 60.45%. At the time of writing, Bitcoin’s dominance stood at 60.19%.

This Morning

At the time of writing, Bitcoin was up by 0.14% to $11,391.0. A mixed start to the day saw Bitcoin fall to an early morning high $11,364.9 before rising to a high $11,410.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day for the crypto majors.

Bitcoin Cash SV was down by 0.35% to buck the trend early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Binance Coin was up by 1.40% to lead the way.

BTC/USD 18/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $11,356 to bring the first major resistance level at $11,437 back into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $11,418.0.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test the second major resistance level at $11,499.

Failure to avoid a fall through the $11,356 pivot would bring the first major support level at $11,294 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$11,200 levels. The second major support level at $11,213 should limit any downside.

The Crypto Daily – Movers and Shakers – October 17th, 2020

Bitcoin, BTC to USD, fell by 1.62% on Friday. Reversing a 0.60% gain from Thursday, Bitcoin ended the day at $11,325.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,547.0 before hitting reverse.

Falling short of the first major resistance level at $11,668, Bitcoin fell to an early morning intraday low $11,212.0.

The morning pullback saw Bitcoin fall through the first major support level at $11,313.

Finding support in the late morning, Bitcoin briefly revisited $11,400 levels before falling back through the first major support level.

A late move back through to $11,320 levels reduced the deficit on the day. The late move also saw Bitcoin break back through the first major support level at $11,313.

The near-term bullish trend remained intact, supported by the latest move back through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Friday.

Binance Coin (-4.18%), Bitcoin Cash ABC (-5.22%), and Bitcoin Cash SV (-5.16%) led the way down.

Cardano’s ADA (-2.25%), Ethereum (-3.26%), Litecoin (-3.87%), Polkadot (-2.81%), and Ripple’s XRP (-2.31%) also struggled.

Chainlink (-1.57%) and Crypto.com Coin (-1.94%) saw relatively modest losses on the day.

In the current week, the crypto total market rose to a Monday high $365.23bn before falling to a Friday low $343.10. At the time of writing, the total market cap stood at $347.00bn.

Bitcoin’s dominance fell to a Monday low 59.47% before rising to a Friday high 60.45%. At the time of writing, Bitcoin’s dominance stood at 60.28%.

This Morning

At the time of writing, Bitcoin was down by 0.25% to $11,297.0. A mixed start to the day saw Bitcoin rise to an early morning high $11,334.0 before falling to a low $11,290.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bearish start to the day for the crypto majors.

At the time of writing, Bitcoin Cash SV was down by 1.68% to lead the way down.

BTC/USD 17/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $11,361 to bring the first major resistance level at $11,511 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,500 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $11,547.0 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $11,600 before any pullback. The second major resistance level sits at $11,696.

Failure to move through the $11,361 pivot would bring the first major support level at $11,176 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of the second major support level at $11,026.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 17th, 2020

Ethereum

Ethereum slid by 3.26% Friday. Following on from a 0.28% decline on Thursday, Ethereum ended the day at $365.57.

It was another mixed start to the day. Ethereum rose to an early morning intraday high $380.0 before hitting reverse.

Falling short of the first major resistance level at $383.27, Ethereum fell to a late morning intraday low $361.38.

The pullback saw Ethereum fall through the first major support level at $371.34 and the second major support level at $364.73.

More significantly, Ethereum fell through the 38.2% FIB of $367.

Finding support in the 2nd half of the day, Ethereum revisited $371 levels before falling back through the 38.2% FIB. The first major support level at $371.34 pinned Ethereum back.

At the time of writing, Ethereum was down by 0.21% to $364.80. A mixed start to the day saw Ethereum rise to an early morning high $365.89 before falling to a low $364.80.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 17/10/20 Hourly Chart

For the day ahead

Ethereum would need to move through the 38.2% FIB and the $368.98 pivot to support a run at the first major resistance level at $376.59.

Support from the broader market would be needed, however, for Ethereum to break back through to $370 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could visit $380 levels before any pullback. Ethereum would likely come up short of the second major resistance level at $387.60, however.

Failure to move through the 38.2% FIB and the $368.98 pivot would bring the first major support level at $357.97 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$350 levels. The second major support level at $350.36 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $357.97

Pivot Level: $368.98

First Major Resistance Level: $376.59

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin slid by 3.87% on Friday. Following on from a 0.46% fall on Thursday, Litecoin ended the day at $47.63.

A relatively bullish start to the day saw Litecoin rise to an early morning intraday high $49.9 before hitting reverse.

Falling short of the first major resistance level at $50.27, Litecoin slid to an early morning intraday low $45.64.

Litecoin fell through the day’s major support levels before a move back through to $47 levels.

The partial recovery saw Litecoin move back through the third major support level at $46.81.

At the time of writing, Litecoin was down by 0.31% to $47.48. A bearish start to the day saw Litecoin fall from an early morning high $47.67 to a low $47.48.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 17/10/20 Hourly Chart

For the day ahead

Litecoin would need to move through the $47.72 pivot to support a run at the first major resistance level at $49.81.

Support from the broader market would be needed, however, for Litecoin to break back through to $49 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $49.9 would likely cap any upside.

In the event of another breakout, Litecoin would likely test resistance at $51 before any pullback. The second major resistance level sits at $51.98.

Failure to move through the $47.72 pivot level would bring the first major support level at $45.55 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $43.46.

Looking at the Technical Indicators

First Major Support Level: $45.55

Pivot Level: $47.72

First Major Resistance Level: $49.81

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 2.31% on Friday. Following on from a 1.23% decline on Thursday, Ripple’s XRP ended the day at $0.24017.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.24797 before hitting reverse.

Falling short of the first major resistance level at $0.2499, Ripple’s XRP slid to a late morning intraday low $0.23783.

Ripple’s XRP fell through the first major support level at $0.2425 and the second major support level at $0.2391.

Finding support in the late morning, Ripple’s XRP briefly revisited $0.2426 levels before falling back.

The first major support level at $0.2425 pinned Ripple’s XRP back on the day.

At the time of writing, Ripple’s XRP was flat at $0.24024, with no movement at the start of the day.

XRP/USD 17/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2420 pivot to support a run at the first major resistance level at $0.2462.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2450 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $0.24797 would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.2521 would likely come into play.

Failure to move through the $0.2420 pivot would bring the first major support level at $0.2360 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 levels. The second major support level at $0.2319 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2360

Pivot Level: $0.2420

First Major Resistance Level: $0.2462

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – October 16th, 2020

Bitcoin, BTC to USD, rose by 0.60% on Thursday. Following a 0.02% decline on Wednesday, Bitcoin ended the day at $11,509.0.

It was a bearish start to the day. Bitcoin fell to a late morning intraday low $11,277 before making a move.

The morning pullback saw Bitcoin fall through the first major support level at $11,311.

Finding support going into the afternoon, however, Bitcoin struck a late intraday high $11,632.

Bitcoin broke through the first major resistance level at $11,566 before falling back to sub-$11,500 levels.

Finding late support, however, Bitcoin broke back through to $11,500 levels to end the day in the green. Resistance at $11,500 continued to peg Bitcoin back, however.

The near-term bullish trend remained intact, supported by the latest move back through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Thursday.

Binance Coin (+1.69%), Bitcoin Cash ABC (+1.04%), and Bitcoin Cash SV (-0.14%) joined Bitcoin in the green.

It was a bearish day for the rest of the majors.

Polkadot led the way down, falling by 3.00%.

Chainlink (-1.20%), and Ripple’s XRP (-1.23%) also struggled.

Cardano’s ADA (-0.36%), Crypto.com Coin (-0.29%), Ethereum (-0.28%), and Litecoin (-0.46%) saw relatively modest losses on the day.

In the current week, the crypto total market slid to a Monday low $344.29bn before rising to a Monday high $365.23bn. At the time of writing, the total market cap stood at $353.67bn.

Bitcoin’s dominance fell to a Monday low 59.47% before rising to a Thursday high 60.21%. At the time of writing, Bitcoin’s dominance stood at 60.19%.

This Morning

At the time of writing, Bitcoin was down by 0.06% to $11,502.0. A mixed start to the day saw Bitcoin fall to an early morning low $11,489.0 before rising to a high $11,512.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day for the crypto majors.

Cardano’s ADA (-0.64%), Chainlink (-0.61%), Ethereum (-0.10%), Litecoin (-0.26%), Polkadot (-0.15%), and Ripple’s XRP (-0.09%) joined Bitcoin in the red.

At the time of writing, Binance Coin was up by 0.56% to lead the way. Bitcoin Cash SV (+0.19%) and Crypto.com Coin (+0.14%) also found early support.

BTC/USD 16/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $11,473 to bring the first major resistance level at $11,668 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,600 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $11,632.0 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $11,900 before any pullback. The second major resistance level sits at $11,828.

Failure to avoid a fall through the $11,473 pivot would bring the first major support level at $11,313 into play.

Barring an extended crypto sell-off, Bitcoin should to steer clear of the second major support level at $11,118.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 16th, 2020

Ethereum

Ethereum declined by 0.28% on Thursday. Following on from a 0.63% fall on Wednesday, Ethereum ended the day at $377.94.

It was another mixed start to the day. Ethereum rose to a mid-morning high $381.14 before hitting reverse.

Falling short of the major resistance levels, Ethereum fell to a late morning intraday low $370.06.

The pullback saw Ethereum fall through the first major support level before striking a late intraday high $381.99.

Falling short of the first major resistance level at $386.64, Ethereum fell back to sub-$379 levels and into the red.

At the time of writing, Ethereum was down by 0.34% to $376.65. A Bearish start to the day saw Ethereum fall from an early morning high $377.94 to a low $376.65.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 16/10/20 Hourly Chart

For the day ahead

Ethereum would need to move back through the $376.66 pivot to support a run at the first major resistance level at $383.27.

Support from the broader market would be needed, however, for Ethereum to break back through to $380 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test the second major resistance level at $388.59. Resistance at $390 would likely pin Ethereum back, however.

Failure to move back through the $376.66 pivot would bring the first major support level at $371.34 into play.

Barring another extended sell-off, however, Ethereum should continue to avoid the 38.2% FIB of $367. The second major support level sits at $364.73.

Looking at the Technical Indicators

First Major Support Level: $371.34

Pivot Level: $376.66

First Major Resistance Level: $383.27

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 0.46% on Thursday. Following on from a 0.24% loss on Wednesday, Litecoin ended the day at $49.58.

A relatively bullish start to the day saw Litecoin rise to a mid-morning intraday high $50.26 before hitting reverse.

Falling short of the first major resistance level at $50.82, Litecoin slid to a late morning intraday low $48.88.

Litecoin fell through the first major support level at $49.07 before revisiting $49.9 levels.

A bearish end to the day, however, saw Litecoin fall back to sub-$49.80 levels and into the red. Resistance at $50 had pinned Litecoin back late in the day.

At the time of writing, Litecoin was down by 0.42% to $49.37. A bearish start to the day saw Litecoin fall from an early morning high $49.55 to a low $49.37.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 16/10/20 Hourly Chart

For the day ahead

Litecoin would need to move through the $49.57 pivot to support a run at the first major resistance level at $50.27.

Support from the broader market would be needed, however, for Litecoin to break back through to $50 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $50.26 would likely cap any upside.

In the event of another breakout, Litecoin would likely test the second major resistance level at $50.95. Resistance at $51 would likely cap any upside, however.

Failure to move through the $49.57 pivot level would bring the first major support level at $48.89 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $48.19.

Looking at the Technical Indicators

First Major Support Level: $48.89

Pivot Level: $49.57

First Major Resistance Level: $50.27

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 1.23% on Thursday. Following on from a 2.83% slide on Wednesday, Ripple’s XRP ended the day at $0.24604.

It was a choppy start to the day. Ripple’s XRP recovered from an early dip to strike a mid-morning intraday high $0.25032 before hitting reverse.

Falling well short of the first major resistance level at $0.2566, Ripple’s XRP slid to an early afternoon intraday low $0.24294.

Ripple’s XRP fell through the first major support level at $0.2442 before revisiting $0.2480 levels.

A bearish end to the day, however, left Ripple’s XRP down at $0.2460 levels and in the red.

At the time of writing, Ripple’s XRP was down by 0.28% to $0.24536. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24586 to a low $0.24512.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 16/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2464 pivot to support a run at the first major resistance level at $0.2499.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2490 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.25032 would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.2538 would likely come into play.

Failure to move through the $0.2464 pivot would bring the first major support level at $0.2425 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.24 levels. The second major support level sits at $0.2391.

Looking at the Technical Indicators

First Major Support Level: $0.2425

Pivot Level: $0.2464

First Major Resistance Level: $0.2499

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

Trading in Privacy: Will Litecoin’s New Privacy Upgrade Provide a Boost For The Embattled Altcoin?

For investors, the move to ramp up Litecoin’s privacy is an essential step in paving the way for truly sound money and trading in confidence. But after a challenging 2020, could the developments in the technology behind the embattled cryptocurrency help it on the path to recapturing its former glories?

Truly Private Transactions

MimbleWimble on Litecoin is an update that implements extension blocks to Litecoin’s chain – allowing users to effectively mask their identities and trade in full confidence.

Although it had been announced all the way back at the start of 2019, the development of MimbleWimble didn’t start until the arrival of David Burkett – developer of Grin++ – in December 2019. Subsequently, Burkett and the Litecoin Foundation successfully launched the Github code for peer review and contribution.

At present, the testnet only comes with rudimentary features like mining and adding LTC nodes to the testnet. For now, wallet capabilities will not be added.

While regulators have been wary of privacy-centric cryptocurrencies as a significant threat due to the potential it holds for promoting money laundering, for many crypto enthusiasts the promise of true privacy and fungibility is essential for truly decentralized finance.

Litecoin has long been championed for its practicality and the pace of transactions involving LTC. But could the arrival of truly private transactions lead the popular cryptocurrency to rally despite failing to live up to its late 2017 optimism?

Revival to $365?

During its late 2017 peak, LTC reached the astronomical figure of $365. Today, it’s a fraction of its former self in a bearish crypto market, but could the arrival of a long-awaited privacy upgrade be the shot in the arm that the coin was long craving?

(Image: Capital)

Litecoin’s performance in recent month leaves little inspiration for investors but in a market that’s becoming increasingly dependant on external events in order to perform, the move to a more private trading experience could help LTC to become a safe haven for adopters.

LTC was one of the early names to establish itself on the cryptocurrency market. Since then, it’s developed into one of the largest coins on the market based on their market cap. Today, Litecoin can be found on virtually every crypto exchange, and with a Bitcoin to Litecoin exchange rate of 220.7 LTC to BTC, there can be some perceived value investment opportunities for traders.

The appeal of Litecoin comes from the fact that it’s one of the most widely accepted cryptocurrencies on the planet. This means that it’s possible to buy a wide range of goods and services via LTC while also using Litecoin to invest in various other emerging crypto projects.

Litecoin was created in a way that was designed to mirror the world-famous Bitcoin. However, one of the key appeals of LTC is based around the currency’s scarcity. The currency is only produced at set intervals following the approval of a block of transactions to the network. As a result there will only ever be 84 million Litecoins produced – thanks to a simple equation from the coin’s developers.

LTC’s developers recognised that, because Litecoin processes transitions four times faster than Bitcoin, it could feasibly accommodate four times the tokens while performing just as well. Notably, the limited supply of LTC ensures that it will never be adversely affected by inflation over time.

It’s clear that Litecoin is a sturdy cryptocurrency that’s already stood the test of time over a tumultuous decade in the history of crypto. But could the coin ever recapture its 2017-peak of $365 as a more privacy-centric currency once again?

Well, Litecoin has been tipped as a fair bet to increase in value towards the end of the year, provided that LTC can make a breakaway from its current resistance pattern and start showing signs that it can outperform its current valuation at a maximum of $50. According to Invezz, if LTC can break above $50, there’s no reason why it can’t push towards $70 in the not-too-distant future.

Litecoin remains a powerful currency on the crypto market on a more technical level, and comfortably outpaces Bitcoin in terms of faster payment processing as well as showcasing significantly lower transaction fees to make LTC a more practical coin than some of the more famous names populating the cryptocurrency markets.

However, renowned crypto analyst Michaël van de Poppe doubts that Litecoin will ever deliver on its market potential and reach its former highs, and instead told Invezz that he expects the cryptocurrency to eventually fall out the top ten currencies based on market cap:

“The crypto markets are undergoing a series of transitions that will result in a shakeup for previously dominant assets. The first transition would result in maturation and market regulation for Bitcoin and blockchain, while the second would cause the jettisoning of ‘overvalued Top 10 coins,’ including XRP, Litecoin and Bitcoin cash,“ he noted.

The arrival of more privacy for investors and traders when it comes to Litecoin is undoubtedly a step in the right direction for the cryptocurrency. As a coin with highly practical features, it’s fair to say that these developments can help to restore the relevance of LTC. Although, we may be some way off seeing a sustained peak in an embattled crypto market. One thing’s for sure though, Litecoin has proved time and time again that it’s here to stay.

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 15th, 2020

EOS

EOS fell by 1.27% on Wednesday. Following on from a 0.23% loss on Tuesday, EOS ended the day at $2.6092.

It was a choppy start to the day. EOS fell to a late morning low $2.6190 before rising to an early afternoon intraday high $2.6599.

Falling short of the first major resistance level at $2.6673, EOS fell to a mid-afternoon intraday low $2.5781.

EOS fell through the first major support level at $2.6120 and the second major support level at $2.5840.

Finding late support, however, EOS moved back through the second major support level to end the day at $2.60 levels.

At the time of writing, EOS was down by 0.25% to $2.6026. A mixed start to the day saw EOS rise to an early morning high $2.6136 before falling to a low $2.6026.

EOS left the major support and resistance levels untested early on.

EOS/USD 15/10/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.6157 pivot level to support a run at the first major resistance level at $2.6534.

Support from the broader market would be needed, however, for EOS to break back through to $2.65 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the pivot level at $2.6157 would bring the first major support level at $2.5716 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.55 and the second major support level at $2.5339.

Looking at the Technical Indicators

First Major Support Level: $2.5716

First Major resistance Level: $2.6534

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen slid by 3.09% on Wednesday. Following on from a 1.36% decline on Tuesday, Stellar’s Lumen ended the day at $0.074098.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.076839 before hitting reverse.

Falling short of the first major resistance level at $0.07757, Stellar’s Lumen slid to a final hour intraday low $0.073500.

Stellar’s Lumen fell through the first major support level at $0.07540 and the second major support level at $0.07434.

A late move back through to $0.074 levels reduced the deficit on the day, however.

At the time of writing, Stellar’s Lumen was down by 0.68% to $0.07360. A bearish start to the day saw Stellar’s Lumen fall from an early morning high $0.074098 to a low $0.073511.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 15/10/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.07481 pivot to support a run at the first major resistance level at $0.07613.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.076 levels.

Barring another broad-based crypto rally, the first major resistance level would likely cap any upside.

Failure to move through the $0.07481 pivot level would bring the first major support level at $0.07279 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should continue to steer clear of sub-$0.070 levels. The second major support level at $0.07147 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.07279

First Major Resistance Level: $0.07612

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX fell by 0.09% on Wednesday. Following on from a 0.54% loss on Tuesday, Tron’s TRX ended the day at $0.02686.

A mixed start to the day saw Tron’s TRX rise to a late morning intraday high $0.02726 before hitting reverse.

Falling short of the first major resistance level at $0.02737, Tron’s TRX slid to a late afternoon intraday low $0.02623.

Tron’s TRX fell through the first major support level at $0.02641 before revisiting $0.02689 levels.

A pullback to sub-$0.02688 levels left Tron’s TRX in the red for the day, however.

At the time of writing, Tron’s TRX was down by 1.11% to $0.02656. A bearish start to the day saw Tron’s TRX fall from an early morning high $0.02686 to a low $0.02656.

Tron’s TRX left the major support and resistance levels untested early on.

TRX/USD 15/10/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to move through the $0.02678 pivot level to support a run at the first major resistance level at $0.02734.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.027 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.02726 would likely cap any upside.

Failure to move through the $0.02678 pivot level would bring the first major support level at $0.02631 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level at $0.02575 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.02631

First Major Resistance Level: $0.02734

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 15th, 2020

Ethereum

Ethereum fell by 0.63% on Wednesday. Following on from a 1.40% decline on Tuesday, Ethereum ended the day at $378.97.

It was another mixed start to the day. Ethereum rose to an early morning high $385.5 before falling to a late morning low $378.01.

Steering clear of the major support and resistance levels, Ethereum rose to an early afternoon intraday high $387.63.

Falling short of the first major resistance level at $388.07, Ethereum fell to a late afternoon intraday low $373.29.

Ethereum fell through the first major support level at $374.48 before a partial recovery to end the day at $378 levels.

At the time of writing, Ethereum was down by 0.02% to $378.90. A mixed start to the day saw Ethereum rise to an early morning high $379.09 before falling to a low $378.38.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 15/10/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $379.96 pivot to support a run at the first major resistance level at $386.64

Support from the broader market would be needed, however, for Ethereum to break back through to $385 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $387.63 would likely cap any upside.

In the event of a breakout, Ethereum could test the second major resistance level at $394.3. Resistance at $400 would likely pin Ethereum back, however.

Failure to move through the $379.96 pivot would bring the first major support level at $372.30 into play.

Barring another extended sell-off, however, Ethereum should avoid the 38.2% FIB and the second major support level at $365.62.

Looking at the Technical Indicators

First Major Support Level: $372.30

Pivot Level: $379.96

First Major Resistance Level: $386.64

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 0.24% on Wednesday. Following on from a 1.30% decline on Tuesday, Litecoin ended the day at $49.84.

A relatively bullish start to the day saw Litecoin rise to an early afternoon intraday high $51.04 before hitting reverse.

Litecoin broke through the first major resistance level at $50.82 before falling to a late afternoon intraday low $49.29.

Steering clear of the first major support level at $48.96 Litecoin recovered to end the day at $49.8 levels. Resistance at $50 pinned Litecoin back late in the day.

At the time of writing, Litecoin was down by 0.28% to $49.70. A bearish start to the day saw Litecoin fall from an early morning high $49.81 to a low $49.64.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 15/10/20 Hourly Chart

For the day ahead

Litecoin would need to move through the $50.06 pivot to support a run at the first major resistance level at $50.82.

Support from the broader market would be needed, however, for Litecoin to break out from $50.50 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $51.04 would likely cap any upside.

In the event of another breakout, Litecoin would likely test the second major resistance level at $51.81. Resistance at $52 would likely cap any upside, however.

Failure to move through the $50.06 pivot level would bring the first major support level at $49.07 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $48.31.

Looking at the Technical Indicators

First Major Support Level: $49.07

Pivot Level: $50.06

First Major Resistance Level: $50.82

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP slid by 2.83% on Wednesday. Reversing a 0.25% gain from Tuesday, Ripple’s XRP ended the day at $0.24937.

A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $0.25867 before hitting reverse.

Coming up against the first major resistance level at $0.2603, Ripple’s XRP slid to a late afternoon intraday low $0.24632.

Ripple’s XRP fell through the first major support level at $0.2529 and the second major support level at $0.2491.

A late move back through to $0.249 levels saw Ripple’s XRP move back through the second major support level.

At the time of writing, Ripple’s XRP was down by 0.20% to $0.24887. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24911 to a low $0.24883.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 15/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2515 pivot to support a run at the first major resistance level at $0.2566.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2550 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $0.25867 would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.2638 would likely come into play.

Failure to move through the $0.2515 pivot would bring the first major support level at $0.2442 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.24 levels. The second major support level sits at $0.2391.

Looking at the Technical Indicators

First Major Support Level: $0.2442

Pivot Level: $0.2515

First Major Resistance Level: $0.2566

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 14th, 2020

EOS

EOS fell by 0.23% on Tuesday. Following on from a 0.56% decline on Monday, EOS ended the day at $2.6399.

It was a choppy start to the day. EOS fell to a late morning low $2.6142 before rising to a late morning intraday high $2.6667.

Falling short of the first major resistance level at $2.6969, EOS fell to an early afternoon intraday low $2.6114.

Steering clear of the first major support level at $2.5965, EOS recovered to $2.65 levels before falling back into the red.

At the time of writing, EOS was up by 0.23% to $2.6459. A mixed start to the day saw EOS fall to an early morning low $2.6291 before rising to a high $2.6541.

EOS left the major support and resistance levels untested early on.

EOS/USD 14/10/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $2.6393 pivot level to support a run at the first major resistance level at $2.6673.

Support from the broader market would be needed, however, for EOS to break back through to $2.66 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $2.6667 would likely cap any upside.

Failure to avoid a fall through the pivot level at $2.6393 would bring the first major support level at $2.6120 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.60 and the second major support level at $2.5840.

Looking at the Technical Indicators

First Major Support Level: $2.6120

First Major resistance Level: $2.6673

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen fell by 1.36% on Tuesday. Reversing a 0.40% gain from Monday, Stellar’s Lumen ended the day at $0.07646.

A mixed start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.07762 before hitting reverse.

Falling short of the first major resistance level at $0.07920, Stellar’s Lumen slid to an early afternoon intraday low $0.075447.

Stellar’s Lumen fell through the first major support level at $0.07591 before briefly revisiting $0.0767 levels.

Coming up short of $0.077 levels, however, Stellar’s Lumen fell back through the first major support level. Finding late support, however, Stellar’s Lumen wrapped up the day at $0.0764 levels.

At the time of writing, Stellar’s Lumen was up by 0.33% to $0.076717. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.076156 before rising to a high $0.076839.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 14/10/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall back through the $0.07651 pivot to support a run at the first major resistance level at $0.07757.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.0775 levels.

Barring another broad-based crypto rally, the first major resistance level and Tuesday’s high $0.07762 would likely cap any upside.

Failure to avoid a fall back through the $0.07651 pivot level would bring the first major support level at $0.07540 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should continue to steer clear of sub-$0.075 levels. The second major support level sits at $0.07434.

Looking at the Technical Indicators

First Major Support Level: $0.07540

First Major Resistance Level: $0.07757

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX fell by 0.54% on Tuesday. Partially reversing a 2.30% rally from Monday, Tron’s TRX ended the day at $0.026856.

A bullish start to the day saw Tron’s TRX rise to a mid-morning intraday high $0.027434 before hitting reverse.

Falling well short of the first major resistance level at $0.02811, Tron’s TRX slid to a late afternoon intraday low $0.026470.

Steering clear of the first major support level at $0.02591, Tron’s TRX revisited $0.0269 levels before easing back. Resistance at $0.027 pinned Tron’s TRX back late in the day.

At the time of writing, Tron’s TRX was up by 0.37% to $0.026956. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.026702 before rising to a high $0.027081.

Tron’s TRX left the major support and resistance levels untested early on.

TRX/USD 14/10/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.02692 pivot level to support a run at the first major resistance level at $0.02737.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the morning high $0.027081.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.027434 would likely cap any upside.

Failure to avoid a fall back through the $0.02692 pivot level would bring the first major support level at $0.02641 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.026 levels. The second major support level sits at $0.02596.

Looking at the Technical Indicators

First Major Support Level: $0.02641

First Major Resistance Level: $0.02737

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob

The Crypto Daily – Movers and Shakers – October 14th, 2020

Bitcoin, BTC to USD, fell by 1.02% on Tuesday. Partially reversing a 1.55% gain from Monday, Bitcoin ended the day at $11,442.0.

It was a mixed start to the day. Bitcoin rose to a late morning intraday high $11,574.9 before hitting reverse.

Falling well short of the first major resistance level at $11,830, Bitcoin fell to an early afternoon intraday low $11,333.0.

Steering clear of the first major support level at $11,201 Bitcoin briefly revisited $11,470 levels before easing back.

The near-term bullish trend remained intact, supported by the latest move back through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Binance Coin (+0.26%), Bitcoin Cash ABC (+5.77%), Bitcoin Cash SV (+0.71%), and Ripple’s XRP (+0.25%) found support.

It was a bearish day for the rest of the majors. Chainlink and Crypto.com Coin slid by 3.84% and by 4.77% respectively to lead the way down.

Cardano’s ADA (-0.24%), Ethereum (-1.40%), Litecoin (-1.30%), and Polkadot (-0.35%) saw relatively modest losses on the day.

At the start of the week, the crypto total market slid to a Monday low $344.29bn before rising to a Monday high $365.23bn. At the time of writing, the total market cap stood at $355.63bn.

Bitcoin’s dominance rose to a Monday high 60.10% before falling to a Monday low 59.47%. At the time of writing, Bitcoin’s dominance stood at 59.66%.

This Morning

At the time of writing, Bitcoin was up by 0.22% to $11,467.0. A mixed start to the day saw Bitcoin fall to an early morning low $11,427.0 before rising to a high $11,467.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bullish start to the day.

At the time of writing, Chainlink was up by 1.72% to lead the way.

BTC/USD 14/10/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $11,450 to bring the first major resistance level at $11,567 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,500 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $11,574.9 would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $11,700 before any pullback. The second major resistance level sits at $11,692.

Failure to avoid a fall back through the $11,450 pivot would bring the first major support level at $11,325 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$11,200 levels. The second major support level at $11,208 should limit any downside.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 14th, 2020

Ethereum

Ethereum fell by 1.40% on Tuesday. Partially reversing a 3.30% rally from Monday, Ethereum ended the day at $381.37.

It was a mixed start to the day. Ethereum rose to an early morning intraday high $387.88 before hitting reverse.

Falling short of the first major resistance level at $399.36, Ethereum fell to an early afternoon intraday low $374.29.

Steering clear of the first major support level at $369.95, Ethereum revisited $383 levels before easing back.

At the time of writing, Ethereum was down by 0.04% to $381.23. A mixed start to the day saw Ethereum rise to an early morning high $382.21 before falling to a low $380.56.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 14/10/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall back through the $381.18 pivot to support a run at the first major resistance level at $388.07.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $387.88.

Barring another extended crypto rally, the first major resistance level would likely cap any upside. In the event of another breakout, Ethereum could test the second major resistance level at $394.77. Resistance at $400 would likely pin Ethereum back, however.

Failure to avoid a fall back through the $381.18 pivot would bring the first major support level at $374.48 into play.

Barring another extended sell-off, however, Ethereum should avoid the second major support level at $367.59 and the 38.2% FIB of $367.

Looking at the Technical Indicators

First Major Support Level: $374.48

Pivot Level: $381.18

First Major Resistance Level: $388.07

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 1.30% on Tuesday. Reversing a 0.28% gain from Monday, Litecoin ended the day at $49.94.

Tracking the broader market, Litecoin rose to an early morning intraday high $50.72 before hitting reverse.

Falling short of the first major resistance level at $51.68, Litecoin fell to an early afternoon intraday low $48.86.

Litecoin fell through the first major support level at $49.42 before a recovery to $50 levels.

A bearish end to the day, however, left Litecoin at sub-$50 at the day end.

At the time of writing, Litecoin was down by 0.04% to $49.92. A mixed start to the day saw Litecoin rise to an early morning high $49.97 before falling to a low $49.86.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 14/10/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $49.84 pivot to support a run at the first major resistance level at $50.82.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $50.72.

Barring an extended crypto rally, Tuesday’s high and the first major resistance level would likely cap any upside.

In the event of another breakout, Litecoin would likely test the second major resistance level at $51.70. Resistance at $52 would likely cap any upside, however.

Failure to avoid a fall through the $49.84 pivot level would bring the first major support level at $48.96 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $47.98.

Looking at the Technical Indicators

First Major Support Level: $48.96

Pivot Level: $49.84

First Major Resistance Level: $50.82

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 0.25% on Tuesday. Following on from a 0.30% gain on Monday, Ripple’s XRP ended the day at $0.25678.

A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $0.25998 before hitting reverse.

Coming up against the first major resistance level at $0.2601, Ripple’s XRP slid to an early afternoon intraday low $0.25261.

Steering clear of the first major support level at $0.2507, Ripple’s XRP recovered to $0.256 levels to end the day in the green.

At the time of writing, Ripple’s XRP was down by 0.35% to $0.25588. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25662 to a low $0.25588.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 14/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2565 pivot to support a run at the first major resistance level at $0.2603.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.25998.

Barring an extended crypto rally, the Tuesday’s high and the first major resistance level would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.2638 would likely come into play.

Failure to move through the $0.2565 pivot would bring the first major support level at $0.2529 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.2450 levels. The second major support level at $0.2491 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2529

Pivot Level: $0.2565

First Major Resistance Level: $0.2603

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – October 13th, 2020

EOS

EOS fell by 0.56% on Monday. Reversing a 0.55% decline from Sunday, EOS ended the day at $2.6441.

It was a mixed start to the day. EOS fell to a late morning intraday low $2.6018 before making a move.

The reversal saw EOS fall through the first major support level at $2.6090 before rallying to an intraday high $2.7022.

EOS broke through the first major resistance level at $2.6996 before sliding back to sub-$2.65 levels and into the red.

At the time of writing, EOS was flat at $2.6442. A choppy start to the day saw EOS rise to an early morning high $2.6497 before falling to a low $2.6247.

EOS left the major support and resistance levels untested early on.

EOS/USD 13/10/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.6494 pivot level to support a run at the first major resistance level at $2.6969.

Support from the broader market would be needed, however, for EOS to break back through to $2.69 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $2.7022 would likely cap any upside.

Failure to move through the pivot level at $2.6494 would bring the first major support level at $2.5965 into play.

Barring an extended sell-off, however, EOS should steer of the second major support level at $2.5490.

Looking at the Technical Indicators

First Major Support Level: $2.5965

First Major resistance Level: $2.6969

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen rose by 0.40% on Monday. Reversing a 0.18% fall from Sunday, Stellar’s Lumen ended the day at $0.07751.

A bearish start to the day saw Stellar’s Lumen fall to a late morning intraday low $0.076003 before making a move.

Stellar’s Lumen fell through the first major support level at $0.07629 before rallying to a late intraday high $0.079291.

Stellar’s Lumen broke through the first major resistance level at $0.07842 before sliding back to sub-$0.078 levels.

At the time of writing, Stellar’s Lumen was down by 0.49% to $0.077134. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.077620 before falling to a low $0.076840.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 13/10/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to move through the $0.07760 pivot to support a run at the first major resistance level at $0.07920.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.079 levels.

Barring another broad-based crypto rally, the first major resistance level and Monday’s high $0.079291 would likely cap any upside.

Failure to move through the $0.07760 pivot level would bring the first major support level at $0.07591 into play.

Barring another extended crypto sell-off, however, Stellar’s Lumen should continue to steer clear of sub-$0.075 levels. The second major support level sits at $0.07431.

Looking at the Technical Indicators

First Major Support Level: $0.07591

First Major Resistance Level: $0.07920

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX rallied by 2.30% on Monday. Following on from a 0.21% gain on Sunday, Tron’s TRX ended the day at $0.02711.

A bearish start to the day saw Tron’s TRX fall to a late morning intraday low $0.025705 before making a move.

Tron’s TRX fell through the first major support level at $0.02608 before rallying to a late intraday high $0.027903.

Tron’s TRX broke through the first major resistance level at $0.02689 and the second major resistance level at $0.02728.

A late pullback, however, saw Tron’s TRX slide back to sub-$0.027 levels before wrapping up the day at $0.027 levels.

The first major resistance level at $0.02689 provided support in the final hour.

At the time of writing, Tron’s TRX was up by 0.01% to $0.027113. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.026841 before rising to a high $0.027244.

Tron’s TRX left the major support and resistance levels untested early on.

TRX/USD 13/10/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall through the $0.02691 pivot level to support a run at the first major resistance level at $0.02811.

Support from the broader market would be needed, however, for Tron’s TRX to break out from Monday’s high $0.027903.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $0.02691 pivot level would bring the first major support level at $0.02591 into play.

Barring another extended sell-off, however, Tron’s TRX should steer clear of sub-$0.025 levels. The second major support level sits at $0.02471.

Looking at the Technical Indicators

First Major Support Level: $0.02591

First Major Resistance Level: $0.02811

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 13th, 2020

Ethereum

Ethereum rallied by 3.30% on Monday. Following on from a 0.98% gain on Sunday, Ethereum ended the day at $386.74.

It was a mixed start to the day. Ethereum fell to a late morning intraday low $365.77 before making a move.

Falling through the first major support level at $369.77 and the 38.2% FIB of $367, Ethereum found support at the second major support level at $365.16.

Rebounding through the afternoon, Ethereum rallied to a late intraday high $395.18.

Ethereum broke through the day’s major resistance levels before a late pullback to sub-$390 levels. The late pullback saw Ethereum fall back through the third major resistance level at $390.57.

At the time of writing, Ethereum was down by 0.16% to $386.11. A mixed start to the day saw Ethereum rise to an early morning high $387.88 before falling to a low $385.85.

Ethereum left the major support and resistance levels untested early on.

ETH/USD 13/10/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $382.56 pivot to support a run at the first major resistance level at $399.36.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $395.18.

Barring another extended crypto rally, the first major resistance level would likely cap any upside. In the event of another breakout, Ethereum could test the second major resistance level at $411.97.

Failure to avoid a fall through the $382.56 pivot would bring the first major support level at $369.95 into play.

Barring another extended sell-off, however, Ethereum should avoid the second major support level at $353.15. The 38.2% FIB of $367 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $369.95

Pivot Level: $382.56

First Major Resistance Level: $399.36

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 0.28% on Monday. Following a 3.32% rally on Sunday, Litecoin ended the day at $50.61.

Tracking the broader market, Litecoin fell to a late morning intraday low $49.29 before making a move.

Steering clear of the first major support level at $49.04, Litecoin rallied to a late intraday high $51.55.

Coming up against the first major resistance level at $51.58, Litecoin fell back to end the day at sub-$51 levels.

At the time of writing, Litecoin was down by 0.91% to $50.15. A mixed start to the day saw Litecoin rise to an early morning high $50.72 before sliding to a low $50.09.

Litecoin left the major support and resistance levels untested early on.

LTC/USD 13/10/20 Hourly Chart

For the day ahead

Litecoin would need to move back through the $50.48 pivot to support a run at the first major resistance level at $51.68.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $51.55.

Barring an extended crypto rally, Monday’s high and the first major resistance level would likely cap any upside.

In the event of another breakout, Litecoin would likely test the second major resistance level at $52.74.

Failure to move back through the $50.48 pivot level would bring the first major support level at $49.42 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $48.22.

Looking at the Technical Indicators

First Major Support Level: $49.42

Pivot Level: $50.48

First Major Resistance Level: $51.68

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 0.30% on Monday. Partially reversing a 0.54% gain from Sunday, Ripple’s XRP ended the day at $0.25622.

A bearish start to the day saw Ripple’s XRP slide to a late morning intraday low $0.24900 before making a move.

Ripple’s XRP fell through the first major support level at $0.2532 and the second major support level at $0.2510.

The visit to sub-$0.25 levels was brief, however. Ripple’s XRP rallied to a late intraday high $0.25843 before easing back.

Ripple’s XRP came up against the first major resistance level at $0.2581 before easing back to sub-$0.0255 levels.

Finding late support, however, Ripple’s XRP moved back through to $0.256 levels to deliver the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.29% to $0.25548. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25615 to a low $0.25528.

Ripple’s XRP left the major support and resistance levels untested early on.

XRP/USD 13/10/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2546 pivot to support a run at the first major resistance level at $0.2601.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Monday’s high $0.25843.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.2640 would likely come into play.

Failure to avoid a fall through the $0.2546 pivot would bring the first major support level at $0.2507 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.24 levels. The second major support level at $0.2451 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2507

Pivot Level: $0.2546

First Major Resistance Level: $0.2601

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

Q3 2020 Recap: Rollercoaster Quarter for Ethereum

Technicals and Fundamentals Behind Q3 Price Action

From 1st August on to 12th August, Ether was trending sideways, consolidating above $378. After that, it spiked sharply to $431.5 and traded between $413 and $447 for four days, gradually slumping down toward $389. Ether was substantially driven down by the news of a glitch in Madella that put almost all of its nodes out of service. But the nodes were recovered soon and the testnet saved.

At the end of August, Ether began trending up, rising as high as $488 on 1st September. But the gains did not last for another day. From 2nd to 5th September, Ether plummeted to $307. It tried to recover but was held off by the 0.618 Fibonacci level at $389 on 12th September. Ether subsequently got lower to the 0.5 Fibonacci level at $358.5 in the next few days and consolidated above it. The second attempt at breaking above 0.618 was undertaken by Ether on 17th September but was denied by the level, which subsequently saw the ETH/USD quote going down in five day’s downswing to $319 below the 0.382 Fibonacci level.

Now that the 0.5 Fibonacci level became resistant, it became a new upside target for Ethereum. The only positive the buyers managed to achieve, however, was getting to that level, which is at $358.5, with no further upside price action afterwards. Thus Ether remained capped under the 0.5 Fibonacci level, which was a clear indication of a continued downtrend in the Ethereum market.

Surprisingly, the record cumulative Ethereum transaction fees (the so-called “gas”) that hit $350 million on 29th September from the beginning of the year, according to Coin Metrics’ report, and the highest ever median gas fee of $8.25 reached on 2nd September, did not lend Ethereum any tangible help in reversing the downtrend.

More Bear Market Ahead

With the clearly visible Ethereum’s downtrend that came to replace the uptrend that was in place from 18th July through to 1st September, more downside price action is the likeliest continuation of Ether trading for maybe more than a month. If the buyers want to turn the ongoing downtrend into a flat, they first need to solidify their positions above the 0.382 Fibonacci level, preventing any further downswing.

The launch of the Ethereum 2.0 network could be a piece of positivity for Ethereum on the fundamental front because it is expected to double its current throughput, which is, on average, 15 transactions per second. And that would be something Ethereum users need most these days due to the peak levels of congestion on Ethereum’s network, owing to the surge of the DeFi industry, which is massively exploiting Ethereum’s network. If Ethereum 2.0 goes online successfully and on schedule, it could positively reflect on Ethereum’s market positions.

Konstantin Anissimov, Executive Director at CEX.IO