Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 26th, 2020

Ethereum

Ethereum rose by 0.85% on Friday. Following on from an 8.89% jump on Thursday, Ethereum ended the day at $352.11.

A bearish start to the day saw Ethereum fall to a late morning intraday low $337.63 before making a move.

Steering clear of the first major support level at $330.63, Ethereum rallied to a late intraday high $358.12.

Falling short of the first major resistance level at $360.39, Ethereum eased back to wrap up the day at $352 levels.

At the time of writing, Ethereum was up by 0.19% to $352.78. A mixed start to the day saw Ethereum fall to an early morning low $351.31 before rising to a high $353.34.

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

ETH/USD 26/09/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $349.29 pivot to support a run at the first major resistance level at $360.94.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $358.12.

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

Failure to avoid a fall through the $349.29 pivot would bring the first major support level at $340.45 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$330 levels. The second major support level sits at $328.80.

Looking at the Technical Indicators

First Major Support Level: $340.45

Pivot Level: $349.29

First Major Resistance Level: $360.94

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rose by 2.38% on Friday. Following a 4.66% rally on Thursday, Litecoin ended the day at $46.02.

It was a bearish start to the day. Litecoin fell to a late morning intraday low $44.00 before making a move.

Steering clear of the first major support level at $43.28, Litecoin rallied to a late morning intraday high $46.55.

The rally saw Litecoin break through the first major resistance level at $45.92.

In the 2nd half of the day, Litecoin slipped back to sub-$45.50 levels before finding late support.

Litecoin broke back through the first major resistance level to wrap up the day at $46 levels.

At the time of writing, Litecoin was up by 0.43% to $46.22. A bullish start to the day saw Litecoin rise from an early morning low $46.02 to a high $46.23.

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

LTC/USD 26/09/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $45.52 pivot to support a run at the first major resistance level at $47.05.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $46.55.

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

Failure to avoid a fall through the $45.52 pivot level would bring the first major support level at $44.50 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$43 levels. The second major support level sits at $42.97.

Looking at the Technical Indicators

First Major Support Level: $44.50

Pivot Level: $45.52

First Major Resistance Level: $47.05

23.6% FIB Retracement Level: $54

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 3.73% on Friday. Following on from a 5.23% rally on Thursday, Ripple’s XRP ended the day at $0.24168.

Tracking the broader market, Ripple’s XRP fell to a late morning intraday low $0.2299 before making a move.

Steering clear of the first major support level at $0.2231, Ripple’s XRP rallied to a late intraday high $0.24470.

Ripple’s XRP broke through the first major resistance level at $0.2389 and the second major resistance level at $0.2448.

A late pullback, however, saw Ripple’s XRP fall back through the second major resistance level to end the day a $0.24168.

At the time of writing, Ripple’s XRP was up by 0.42% to $0.24269. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.24174 to a high $0.24269.

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

XRP/USD 26/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2388 pivot to support a run at the first major resistance level at $0.2476.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.2447.

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

Failure to avoid a fall through the $0.2388 pivot would bring the first major support level at $0.2328 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.23 levels and the second major support level at $0.2240.

Looking at the Technical Indicators

First Major Support Level: $0.2329

Pivot Level: $0.2388

First Major Resistance Level: $0.2476

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 – September 25th, 2020

Bitcoin, BTC to USD, rallied by 4.75% on Thursday. Reversing a 2.72% fall from Wednesday, Bitcoin ended the day at $10,754.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $10,222.0 before making a move.

Steering clear of the first major support level at $10,092, Bitcoin rallied to a late intraday high $10,842.0.

Bitcoin broke through the first major resistance level at $10,495 and the second major resistance level at $10,726.

In spite of a bearish end to the day, Bitcoin avoided a fall back through the second major resistance level.

The near-term bullish trend remained intact, in spite of the latest pullback. 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 bullish day on Thursday.

Chainlink led the way, surging by 29.25%.

Binance Coin (+7.75%), Cardano’s ADA (+7.98%), and Ethereum (+8.89%) also saw solid gains.

Bitcoin Cash ABC (+4.10%), Bitcoin Cash SV (+4.08%), Crypto.com Coin (+0.07%), Litecoin (+4.66%), Polkadot (+4.16%), and Ripple’s XRP (+5.23%) saw relatively modest gains on the day.

In the current week, the crypto total market rose to a Monday high $334.04bn before sliding to a Wednesday low $300.97bn. At the time of writing, the total market cap stood at $320.94bn.

Bitcoin’s dominance fell to a Monday low 60.89% before rising to a Wednesday high 62.31%. At the time of writing, Bitcoin’s dominance stood at 61.68%.

This Morning

At the time of writing, Bitcoin was down by 0.21% to $10,731.0. A mixed start to the day saw Bitcoin rise to an early morning high $10,774.0 before falling to a low $10,708.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (+0.40%), Cardano’s ADA (+3.12%), Crypto.com Coin (+2.05%), and Chainlink (+0.38%) bucked the trend early on.

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

At the time of writing, Bitcoin Cash SV was down by 1.50% to lead the way down.

BTC/USD 25/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $10,606 pivot level to support a run at the first major resistance level at $10,990.

Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $10,842.0.

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

In the event of a crypto breakout, Bitcoin could test resistance at $11,200 before any pullback. The second major resistance level at $11,226 would likely cap any upside, however.

Failure to avoid a fall through the $10,606 pivot would bring the first major support level at $10,370 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,500 levels. The second major support level sits at $9,986.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 25th, 2020

Ethereum

Ethereum jumped by 8.89% on Thursday. Reversing a 6.86% slide from Wednesday, Ethereum ended the day at $349.14.

A mixed start to the day saw Ethereum fall to an early morning intraday low $323.38 before making a move.

Steering clear of the first major support level at $307.54, Ethereum rallied to a late intraday high $353.14.

Ethereum broke through the first major resistance level at $339.18 to return to $350 levels for the 1st time since Monday. A bearish end to the day, however, left Ethereum at sub-$350.

At the time of writing, Ethereum was down by 0.48% to $347.47. A mixed start to the day saw Ethereum rise to an early morning high $350.50 before falling to a low $346.64.

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

ETH/USD 25/09/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $341.89 pivot to support a run at the first major resistance level at $360.39.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $353.14.

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

Failure to avoid a fall through the $341.89 pivot would bring the first major support level at $330.63 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The second major support level at $312.13 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $330.63

Pivot Level: $341.89

First Major Resistance Level: $360.39

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin rallied by 4.66% on Thursday. Reversing a 3.53% slide from Wednesday, Litecoin ended the day at $44.95.

It was a mixed start to the day. Litecoin fell to an early morning intraday low $42.59 before making a move.

Steering clear of the first major support level at $41.73, Litecoin rallied to a late afternoon intraday high $45.23.

The rally saw Litecoin break through the first major resistance level at $44.61.

In spite of a bearish end to the day, Litecoin avoided a fall back through the first major resistance level.

At the time of writing, Litecoin was down by 0.80% to $44.59. A bearish start to the day saw Litecoin fall from an early morning high $44.99 to a low $44.61.

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

LTC/USD 25/09/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall back through the $44.26 pivot to support a run at the first major resistance level at $45.92.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $45.23.

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

Failure to avoid a fall back through the $44.26 pivot level would bring the first major support level at $43.28 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$42 levels. The second major support level sits at $41.62.

Looking at the Technical Indicators

First Major Support Level: $43.28

Pivot Level: $44.26

First Major Resistance Level: $45.92

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 5.23% on Thursday. Reversing a 5.02% slide from Wednesday, Ripple’s XRP ended the day at $0.23297.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.21925 before making a move.

Steering clear of the first major support level at $0.2162, Ripple’s XRP rallied to a late afternoon intraday high $0.2350.

Ripple’s XRP broke through the first major resistance level at $0.2307 to wrap up the day at $0.232 levels.

At the time of writing, Ripple’s XRP was down by 0.56% to $0.23167. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.2333 to a low $0.23156.

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

XRP/USD 25/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2291 pivot to support a run at the first major resistance level at $0.2389.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.2350.

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

Failure to avoid a fall through the $0.2291 pivot would bring the first major support level at $0.2231 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.22 levels and the second major support level at $0.2133.

Looking at the Technical Indicators

First Major Support Level: $0.2231

Pivot Level: $0.2291

First Major Resistance Level: $0.2389

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

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 24th, 2020

Ethereum

Ethereum slid by 6.86% on Wednesday. Reversing a 1.15% gain from Tuesday, Ethereum ended the day at $320.63.

A mixed start to the day saw Ethereum rise to an early morning intraday high $344.64 before hitting reverse.

Falling short of the first major resistance level at $348.88, Ethereum slipped to a mid-morning low $332.77.

Ethereum fell through the first major support level at $337.61 before striking an afternoon high $343.44.

The return to $340 levels was brief, however, with Ethereum sliding to a late intraday low $313.00.

Finding late support, Ethereum broke back through the third major support level at $319.68 to wrap up the day at $320 levels.

At the time of writing, Ethereum was up by 1.04% to $323.95. A choppy start to the day saw Ethereum fall to an early morning low $316.65 before rising to a high $324.64

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

ETH/USD 24/09/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $326.09 pivot to support a run at the first major resistance level at $339.18.

Support from the broader market would be needed, however, for Ethereum to break back through to $330 levels.

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

Failure to move through the $326.09 pivot would bring the first major support level at $307.54 into play.

Barring another extended sell-off, however, Ethereum should steer clear of sub-$300 levels. The second major support level sits at $294.45.

Looking at the Technical Indicators

First Major Support Level: $307.54

Pivot Level: $326.09

First Major Resistance Level: $339.18

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 3.53% on Wednesday. Partially reversing a 3.15% rally from Tuesday, Litecoin ended the day at $42.92.

It was a mixed start to the day. Litecoin fell to a mid-morning low $43.71 before making a move.

Steering clear of the first major support level at $43.25, Litecoin struck a mid-day intraday high $45.12 before hitting reverse.

Falling short of the first major resistance level at $45.30, Litecoin slid to a late intraday low $42.24.

Litecoin fell through the first major support level at $43.25 to wrap up the day at sub-$42 levels.

At the time of writing, Litecoin was up by 1.37% to $43.51. A mixed start to the day saw Litecoin fall to an early morning low $42.59 before rising to a high $43.62.

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

LTC/USD 24/09/20 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall back through the $43.43 pivot to support a run at the first major resistance level at $44.61.

Support from the broader market would be needed, however, for Litecoin to break back through to $44 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $45.12 would likely cap any upside.

Failure to avoid a fall back through the $43.43 pivot level would bring the first major support level at $41.73 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.55 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $41.73

Pivot Level: $43.43

First Major Resistance Level: $44.61

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 5.02% on Wednesday. Reversing a 0.86% gain from Tuesday, Ripple’s XRP ended the day at $0.22126.

Recovering from a mid-morning low $0.23082, Ripple’s XRP struck an early afternoon intraday high $0.23506 before hitting reverse.

Ripple’s XRP came within range of the first major resistance level at $0.0.2352, before sliding to a late intraday low $0.22059.

The sell-off saw Ripple’s XRP fall through the day’s major support levels to wrap up the day at sib-$0.2220 levels.

At the time of writing, Ripple’s XRP was up by 0.88% to $0.22320. A Choppy start to the day saw Ripple’s XRP fall to an early morning low $0.21925 before rising to a high $0.22320.

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

XRP/USD 24/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2256 pivot to support a run at the first major resistance level at $0.2307.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.23 levels.

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

Failure to move through the $0.2256 pivot would bring the first major support level at $0.2162 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2112 and sub-$0.21 levels.

Looking at the Technical Indicators

First Major Support Level: $0.2162

Pivot Level: $0.2256

First Major Resistance Level: $0.2307

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 – September 23rd, 2020

Bitcoin, BTC to USD, rose by 1.09% on Tuesday. Partially reversing a 4.57% slide from Monday, Bitcoin ended the day at $10,549.0.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $10,377.0 before making a move.

Steering clear of the first major support level at $10,171, Bitcoin rose to a late intraday high $10,597.0.

Falling well short of the first major resistance level at $10,850, Bitcoin eased back to wrap up the day at sub-$10,550 levels.

The near-term bullish trend remained intact, supported by the latest pullback. 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 bullish day on Tuesday.

Binance Coin and Bitcoin Cash SV rallied by 4.02% and by 5.84% respectively to lead the way.

Bitcoin Cash ABC (+2.05%), Cardano’s ADA (+1.90%), Ethereum (+1.15%), and Litecoin (+3.15%) also made solid gains.

Chainlink (+0.26%), Crypto.com Coin (+0.26%), and Ripple’s XRP (+0.86%) trailed the front runners, however.

At the start of the week, the crypto total market rose to a Monday high $334.04bn before sliding to a Monday low $306.69bn. At the time of writing, the total market cap stood at $316.17bn.

Bitcoin’s dominance fell to a Monday low 60.89% before rising to a high 62.04%. At the time of writing, Bitcoin’s dominance stood at 61.55%.

This Morning

At the time of writing, Bitcoin was down by 0.02% to $10,549.6. A mixed start to the day saw Bitcoin fall to an early morning low $10,540.0 before rising to a high $10,555.0.

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

Elsewhere, it was a mixed start to the day.

Ethereum (-0.27%) and Ripple’s XRP (-0.03%) struggled early on.

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

At the time of writing, Cardano’s ADA was up by 1.01% to lead the way.

BTC/USD 23/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $10,508 pivot level to support a run at the first major resistance level at $10,638.

Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $10,597.

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

In the event of a crypto breakout, Bitcoin could test resistance at $10,700 before any pullback. Bitcoin would likely come up short of the second major resistance level at $10,728, however.

Failure to avoid a fall through the $10,508 pivot would bring the first major support level at $10,418 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,300 levels and the second major support level at $10,288.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 23rd, 2020

EOS

EOS rose by 2.79% on Tuesday. Partially reversing a 6.31% slide from Monday, EOS ended the day at $2.5746.

It was a mixed start to the day. EOS fell to an early morning intraday low $2.4859 before making a move.

Steering clear of the first major support level at $2.4264, EOS rose to a late intraday high $2.5915.

Falling short of the first major resistance level at $2.6361, however, EOS slipped back to end the day at $2.57 levels.

At the time of writing, EOS was down by 0.10% to $2.5721. A mixed start to the day saw EOS dip to an early morning low $2.5686 before rising to a high $2.5771

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

EOS/USD 23/09/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $2.5507 pivot level to support a run at the first major resistance level at $2.6154.

Support from the broader market would be needed, however, for EOS to break out from Tuesday’s high $2.5915.

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

Failure to avoid a fall through the pivot level at $2.5507 would bring the first major support level at $2.5098 into play.

Barring an extended sell-off, however, EOS should steer of sub-$2.50 levels. The second major support level sits at $2.4451.

Looking at the Technical Indicators

First Major Support Level: $2.5098

Pivot Level: $2.5507

First Major resistance Level: $2.6154

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rose by 1.15% on Tuesday. Partially reversing Monday’s 8.33% tumble, Ethereum ended the day at $344.26.

A mixed start to the day saw Ethereum rise to an early morning high $346.74 before hitting reverse.

Falling well short of the major resistance levels, Ethereum fell to a late morning intraday low $335.57.

Steering clear of the first major support level at $321.82, Ethereum rose to a late intraday high $346.84 before easing back.

Falling short of the first major resistance level at $367.58, Ethereum wrapped up the day at $344 levels.

At the time of writing, Ethereum was down by 0.22% to $343.51. A bearish start to the day saw Ethereum fall from an early morning high $344.63 to a low $343.45.

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

ETH/USD 23/09/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $342.22 pivot to support a run at the first major resistance level at $348.88.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s high $346.84.

Barring an extended crypto rally, the first major resistance level and resistance at $350 would likely cap any upside.

Failure to avoid a fall through the $342.22 pivot would bring the first major support level at $337.61 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$330 levels. The second major support level at $330.95 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $337.61

Pivot Level: $342.22

First Major Resistance Level: $348.88

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 0.86% on Tuesday. Partially reversing a 6.39% slide from Monday, Ripple’s XRP ended the day at $0.23313.

It was also a mixed start to the day. Ripple’s XRP fell to an early morning intraday low $0.22950 before making a move.

Steering clear of the first major support level at $0.2241, Ripple’s XRP rose to a mid-morning high $0.23440.

Coming up short of the major resistance levels, Ripple’s XRP fell back to sub-$0.23 levels before finding support.

A late rally saw Ripple’s XRP strike a late intraday high $0.23442 before easing back to sub-$0.2340 levels.

In spite of the late rally, Ripple’s XRP fell well short of the first major resistance level at $0.2427 on the day.

At the time of writing, Ripple’s XRP was down by 0.06% to $0.23299. A bearish start to the day saw Ripple’s XRP fall to an early morning low $0.23284 before rising to a high $0.23299.

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

XRP/USD 23/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2324 pivot to support a run at the first major resistance level at $0.2352.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s high $0.23442.

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

Failure to avoid a fall through the $0.2324 pivot would bring the first major support level at $0.2303 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2274.

Looking at the Technical Indicators

First Major Support Level: $0.2303

Pivot Level: $0.2324

First Major Resistance Level: $0.2352

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, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 22nd, 2020

EOS

EOS slid by 6.31% on Monday. Following on from a 1.05% decline on Sunday, EOS ended the day at $2.5039.

It was a mixed start to the day. EOS rose to an early morning intraday high $2.6908 before hitting reverse.

Falling short of the first major resistance level at $2.7116, EOS tumbled to an early afternoon intraday low $2.4811.

EOS fell through the first major support level at $2.6239 and the second major support level at $2.5759.

Finding support at the third major support level at $2.4882, EOS briefly recovered to $2.54 levels before falling back.

At the time of writing, EOS was up by 0.30% to $2.5115. A mixed start to the day saw EOS fall to an early morning low $2.4859 before rising to a high $2.5178.

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

EOS/USD 22/09/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.5586 pivot level to support a run at the first major resistance level at $2.6361.

Support from the broader market would be needed, however, for EOS to break back through to $2.60 levels.

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

Failure to move through the pivot level at $2.5586 would bring the first major support level at $2.4264 into play.

Barring another extended sell-off, however, EOS should steer of the second major support level at $2.3489.

Looking at the Technical Indicators

First Major Support Level: $2.4264

Pivot Level: $2.5586

First Major resistance Level: $2.6361

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum tumbled by 8.33% on Monday. Following on from a 3.78% slide on Sunday, Ethereum ended the day at $340.11.

Tracking the broader market, Ethereum rose to an early morning intraday high $376.76 before hitting reverse.

Falling short of the first major resistance level at $382.37, Ethereum tumbled to an early afternoon intraday low $331.00.

The sell-off saw Ethereum slide through the day’s major support levels and the 38.2% FIB of $367.

Finding late support, Ethereum broke back through the third major support level at $332.79 to visit $350 levels.

A bearish end to the day, however, left Ethereum back at $340 levels at the day end.

At the time of writing, Ethereum was up by 1.14% to $343.99. A mixed start to the day saw Ethereum dip to an early morning low $337.47 before rising to a high $344.00.

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

ETH/USD 22/09/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $349.29 pivot to support a run at the first major resistance level at $367.58.

Support from the broader market would be needed, however, for Ethereum to break back through to $360 levels.

Barring an extended crypto rally, the 38.2% FIB and the first major resistance level would likely cap any upside.

Failure to move through the $349.29 pivot would bring the first major support level at $321.82 into play.

Barring another extended sell-off, however, Ethereum should steer clear the second major support level at $303.53 and sub-$300.

Looking at the Technical Indicators

First Major Support Level: $321.82

Pivot Level: $349.29

First Major Resistance Level: $367.58

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 6.39% on Monday. Following on from a 1.79% fall on Sunday, Ripple’s XRP ended the day at $0.23075.

It was also a mixed start to the day. Ripple’s XRP rose an early morning intraday high $0.24790 before hitting reverse.

Falling short of the first major resistance level at $0.2510, Ripple’s XRP slid to a late afternoon intraday low $0.2293.

Ripple’s XRP fell through the first major support level at $0.2423 and the second major support level at $0.2380.

Finding support at the third major support level at $0.2293, Ripple’s XRP briefly revisited $0.2336 levels before easing back.

At the time of writing, Ripple’s XRP was up by 0.34% to $0.23153. Tracking the broader market, Ripple’s XRP fell to an early morning low $0.22950 before rising to a high $0.23156.

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

XRP/USD 22/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2360 pivot to support a run at the first major resistance level at $0.2427.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.24 levels.

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

Failure to move through the $0.2360 pivot would bring the first major support level at $0.2241 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2174.

Looking at the Technical Indicators

First Major Support Level: $0.2241

Pivot Level: $0.2360

First Major Resistance Level: $0.2427

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

Weekly Recap: Bitcoin and Ethereum Provide Substantial Returns Despite Uncertainty the Market

Bitcoin has enjoyed an eventful price action throughout September thus far, which has provided investors with a wide range of opportunities to profit.

During the first week of the month, the flagship cryptocurrency took a 19% nosedive that saw it plummet from a high of $12,086 to a low of $9,813. The following week was characterized by a period of stagnation that led to the formation of an ascending triangle of BTC’s 1-hour chart. Finally, the week of September 14th was defined by surging prices following the break out of this consolidation pattern.

Indeed, Bitcoin kicked off Monday, September 14th, on the right foot. Its price seems to have bounced off the hypotenuse of the ascending triangle previously mentioned one hour after the week opened at $10,336.76. Such a rebound encouraged investors to buy in, propelling prices above the x-axis of this technical formation, which led to a breakout.

By Wednesday, September 16th, at 16:00 UTC, the pioneer cryptocurrency had advanced 7.38% from the weekly open to trade at a high of $11,099.95. However, this hurdle was able to contain rising prices at bay. The rejection triggered a 3.28% correction, pushing Bitcoin back below the $11,000 mark the following day.

As the week was coming to an end, BTC recovered some of the losses incurred. By Friday, September 18th, the bellwether cryptocurrency had risen by 1.82%, closing this day’s trading session at $10,937.50. Investors were able to gain a weekly return of 5.80%, making the week of September 14th the most profitable of the month thus far.

Ethereum Goes Through Extreme Volatility, Closing the Week 5% in the Green

The week of September 14th was quite volatile for the smart contracts giant. Its price rose significantly on multiple occasions to the drop abruptly shortly after. While such price action could be ideal for some market participants, overleveraged traders may have had difficulty trying to forecast Ethereum’s trend.

As a matter of fact, Ether entered Monday’s trading session, September 14th, hovering at a high of $366.58. Following the daily open, prices quickly fell by nearly 3% to a low of $355.66. This support level was able to hold, allowing ETH to rebound and rise steadily for the next 15 hours.

By 16:00 UTC, Ethereum had gained more than 8% in value and was trading at a high of $384.60. Despite the upward pressure seen throughout the beginning of the week, bears stepped into the market around this price level. The spike in selling pressure pushed prices down by 7.70% for two consecutive days to a weekly low of $355 by Wednesday, September 16th.

Many buy orders seem to have been filled around this price level, which allowed Ethereum to recover. As a result, the second-largest cryptocurrency by market cap entered a 44 hours uptrend that saw it rise over 11%. By Thursday, September 17th, at 20:00 UTC, ETH had made a weekly high of $394.55.

But as the week came to an end, Ether was forced to retrace after such impressive price action. Ethereum was able to close Friday, September 18th, at $384.60, providing investors a weekly return of 4.92%.

Uncertainty Reigns in the Crypto Market

Although the top two cryptocurrencies by market capitalization were able to generate substantial returns over the past week, uncertainty continues to reign in the crypto market. The thought of Bitcoin’s CME gap at $9,600 continues to haunt investors, while the formation of a bear flag pattern on ETH’s daily chart adds fuel to the rising concerns. Given the high probability of a further downturn, it is imperative to implement stop-loss orders when trading these cryptocurrencies.

The most critical support levels underneath Bitcoin to watch out are the $10,600 and the $10,000 level. For Ethereum, the most critical hurdles sit at $375 and $300. Slicing thought the first barrier would likely lead to a decline towards the second supply wall, but failing to hold above this one could see BTC drop towards $9,000 and ETH to $250.

Konstantin Anissimov, Executive Director at CEX.IO

The Crypto Daily – Movers and Shakers – September 21st, 2020

Bitcoin, BTC to USD, fell by 1.47% on Sunday. Reversing a 1.29% gain from Saturday, Bitcoin ended week up by 5.84% to $10,934.5.

It was a bearish start to the day. Bitcoin slid from an early morning intraday high $11,098.0 to a late afternoon intraday low $10,779.0.

Bitcoin fell through the first major support level at $10,950 and the second major support level at $10,803.

Finding late support, however, Bitcoin broke back through the second major support level to wrap up the day at $10,930 levels.

The near-term bullish trend remained intact, supported by the latest visit 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 end to the week.

Bitcoin Cash SV and Tezos led the way down, with losses of 4.78% and 4.11% respectively.

Binance Coin (-3.05%), Bitcoin Cash ABC (-3.60%), and Ethereum (-3.78%) weren’t far behind.

Cardano’s ADA (-2.17%), EOS (-1.05%), Litecoin (-2.89%), Monero’s XMR (-1.72%), Ripple’s XRP (-1.79%), Stellar’s Lumen (-2.16%), and Tron’s TRX (-2.14%) saw relatively modest losses.

It was a mixed week for the crypto majors, however.

Bitcoin Cash ABC (+1.58%), Ethereum (+1.12%), Monero’s XMR (+8.00%), and Ripple’s XRP (+1.83%) bucked the trend in the week.

It was a bearish week for the rest of the pack.

Binance Coin (-15.52%), Tezos (-15.40%), and Tron’s TRX (-11.84%) led the way down.

Bitcoin Cash SV (-6.01%), Cardano’s ADA (-6.07%), EOS (-2.07%), Litecoin (-2.28%), and Stellar’s Lumen (-3.85%) also saw red.

In the week, the crypto total market fell to a Monday low $314.21bn before rising to a Saturday high $341.59bn. At the time of writing, the total market cap stood at $330.57bn.

Bitcoin’s dominance rose from a Monday low 59.64% to a Wednesday high 61.56%. At the time of writing, Bitcoin’s dominance stood at 61.25%.

This Morning

At the time of writing, Bitcoin was up by 0.30% to $10,967.0. A mixed start to the day saw Bitcoin fall to an early morning low $10,917.0 before rising to a high $10,967.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.25%), Bitcoin Cash SV (-0.59%), EOS (-0.19%), Litecoin (-0.23%), Monero’s XMR (-0.36%), Ripple’s XRP (-0.22%), and Tezos (-0.19%) saw early losses.

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

At the time of writing, Tron’s TRX was up by 0.62% to lead the way.

BTC/USD 21/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the $10,937 pivot level to support a run at the first major resistance level at $11,095.

Support from the broader market would be needed, however, for Bitcoin to break back through to $11,000 levels.

Barring an extended crypto rally, the first major resistance level and Sunday high $11,098 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,256 before any pullback.

Failure to avoid a fall back through the $10,937 pivot would bring the first major support level at $10,776 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,500 levels. The second major support level at $10,618 should limit any downside.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 21st, 2020

EOS

EOS fell by 1.05% on Sunday. Reversing a 1.29% gain from Saturday, EOS ended the week down by 2.07% to $2.6719.

A bearish start to the day saw EOS fall to an early morning low $2.6649 before making a move.

EOS fell through the first major support level at $2.6678 before striking a late morning intraday high $2.7033.

Falling well short of the first major resistance level at $2.7444, EOS tumbled to an early afternoon intraday low $2.6156.

EOS fell back through the first major support level and the second major support level at $2.6328.

Steering clear of sub-$2.60 levels, EOS broke back through the support levels to briefly revisit $2.68 levels.

A bearish end to the day, however, saw EOS fall back to wrap up the day at sub-$2.68 levels.

At the time of writing, EOS was down by 0.04% to $2.6707. A bearish start to the day saw EOS fall from an early morning high $2.6740 to a low $2.6587.

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

EOS/USD 21/09/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall back through the $2.6636 pivot level to support a run at the first major resistance level at $2.7116.

Support from the broader market would be needed, however, for EOS to break out from $2.70 levels.

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 $2.6636 would bring the first major support level at $2.6239 into play.

Barring another extended sell-off, however, EOS should steer of the second major support level at $2.5759.

Looking at the Technical Indicators

First Major Support Level: $2.6239

Pivot Level: $2.6636

First Major resistance Level: $2.7116

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum slid by 3.78% on Sunday. Following a 0.16% gain on Saturday, Ethereum ended the week up by 1.12% to $370.69.

It was a bearish end to the week. Ethereum fell from an early morning intraday high $385.31 to a late afternoon intraday low $364.89.

Ethereum fell the first major support level at $378.81 and the second major support level at $372.39.

More significantly, Ethereum also fell through the 38.2% FIB of $367 before finding support.

Ethereum briefly broke back through the 38.2% FIB and the second major support level before falling back to $366 levels.

Finding late support at the $38.2% FIB, however, Ethereum wrapped up the week at $370 levels.

At the time of writing, Ethereum was down by 0.27% to $369.69. A bearish start to the day saw Ethereum fall from an early morning high $371.03 to a low $368.69.

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

ETH/USD 21/09/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $373.63 pivot to support a run at the first major resistance level at $382.37.

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.

Failure to move through the $373.63 pivot would bring the 38.2% FIB and the first major support level at $361.95 into play.

Barring another extended sell-off, however, Ethereum should steer clear the second major support level at $353.21.

Looking at the Technical Indicators

First Major Support Level: $361.95

Pivot Level: $373.63

First Major Resistance Level: $382.37

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 1.79% on Sunday. Reversing a 0.17% gain from Saturday, Ripple’s XRP ended the week up by 1.83% to $0.2465.

It was also a bearish end to the week. Ripple’s XRP slid from an early morning intraday high $0.25127 to a late afternoon intraday low $0.24252.

Ripple’s XRP fell through the first major support level at $0.2475 and the second major support level at $0.2439.

Steering clear of sub-$0.24 levels, Ripple’s XRP briefly revisited $0.2470 levels before easing back.

While breaking back through the second major support level, the first major support level pinned Ripple’s XRP late in the day.

At the time of writing, Ripple’s XRP was down by 0.46% to $0.24536. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24659 to a low $0.24441.

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

XRP/USD 21/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2468 pivot to support a run at the first major resistance level at $0.2510.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.25 levels.

Barring an extended crypto rally, the first major resistance level and Sunday high $0.25127 would likely limit any upside.

Failure to move through the $0.2468 pivot would bring the first major support level at $0.2423 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2380.

Looking at the Technical Indicators

First Major Support Level: $0.2423

Pivot Level: $0.2468

First Major Resistance Level: $0.2510

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 – September 20th, 2020

Bitcoin, BTC to USD, rose by 1.29% on Saturday. Following a 0.02% slip on Friday, Bitcoin ended the day at $11,098.

It was a range-bound start to the day. Bitcoin dipped to a late morning intraday low $10,920.0 before making a move.

Steering clear of the first major support level at $10,834, Bitcoin struck a mid-day intraday high $11,185.0.

Bitcoin broke through the first major resistance level at $11,073 before easing back.

Coming up against the second major resistance level at $11,188, Bitcoin fell back through the first major resistance level to sub-$11,040 levels.

Finding late support, however, Bitcoin broke back through the first major resistance level to wrap up the day at $11,090 levels.

The near-term bullish trend remained intact, supported by the latest visit 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 another mixed day on Saturday.

Binance Coin (-1.74%), Bitcoin Cash SV (-0.70%), Litecoin (-0.14%), Tezos (-2.79%), and Tron’s TRX (-4.81%) saw red on the day.

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

Bitcoin Cash ABC (0.10%), Cardano’s ADA (+0.56%), EOS (+0.47%), Ethereum (+0.16%), Monero’s XMR (+2.11%), Ripple’s XRP (+0.17%), and Stellar’s Lumen (+0.28%) joined Bitcoin in the green.

In the current week, the crypto total market fell to a Monday low $314.21bn before rising to a Saturday high $341.59bn. At the time of writing, the total market cap stood at $336.10bn.

Bitcoin’s dominance rose from a Monday low 59.64% to a Wednesday high 61.56%. At the time of writing, Bitcoin’s dominance stood at 60.89%.

This Morning

At the time of writing, Bitcoin was down by 0.13% to $11,084.0. A bearish start to the day saw Bitcoin fall from an early morning high $11,098.0 to a low $11,081.0

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

Elsewhere, it was another mixed start to the day

Bitcoin Cash SV (+0.31%) and Tezos (+0.28%) bucked the trend with modest gains early on.

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

At the time of writing, Tron’s TRX was down by 0.92% to lead the way down.

BTC/USD 20/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $11,068 pivot level to support a run at the first major resistance level at $11,215.

Support from the broader market would be needed, however, for Bitcoin to breakout from Saturday’s high $11,185.0.

Barring an extended crypto rally, the first major resistance level and current week high $11,185.0 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,333 and resistance at $11,500 before any pullback.

Failure to avoid a fall through the $11,068 pivot would bring the first major support level at $11,950 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,700 levels. The second major support level at $11,803 should limit any downside.

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

Bitcoin, BTC to USD, slipped by 0.02% on Friday. Following on from a 0.11% decline on Thursday, Bitcoin ended the day at $10,957.2.

It was a mixed start to the day. Bitcoin fell to an early low $10,903.4 before making a move.

Steering clear of the first major support level at $10,794, Bitcoin struck a late morning intraday high $11,064.0.

Falling short of the first major resistance level at $11,097, Bitcoin slid to a late afternoon intraday low $10,825.0.

Steering clear of the first major support level at $10,794, Bitcoin revisited $10,970 levels before falling back into the red.

The near-term bullish trend remained intact, supported by the latest visit 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 another mixed day on Friday.

Binance Coin (+1.99%), Bitcoin Cash ABC (+0.49%), and Tron’s TRX (+3.35%) bucked the trend on the day.

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

Bitcoin Cash SV (-1.94), Cardano’s ADA (-3.29%), EOS (-1.86%), Ethereum (-1.25%), Stellar’s Lumen (-2.65%), and Tezos (-3.42%) struggled on the day.

Litecoin (-0.68%), Monero’s XMR (-0.55%), and Ripple’s XRP (-0.49%) saw relatively modest losses, however.

In the current week, the crypto total market fell to a Monday low $314.21bn before rising to a Thursday high $340.01bn. At the time of writing, the total market cap stood at $333.33bn.

Bitcoin’s dominance rose from a Monday low 59.64% to a Wednesday high 61.56%. At the time of writing, Bitcoin’s dominance stood at 60.80%.

This Morning

At the time of writing, Bitcoin was up by 0.24% to $10,984.0. A bullish start to the day saw Bitcoin rise from an early morning low $10,957.0 to a high $10,995.8.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (+0.85%), Cardano’s ADA (+0.25%), Monero’s XMR (+0.23%), and Tron’s TRX (+0.25%) joined Bitcoin in the green.

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

At the time of writing, Tezos was down by 1.44% to lead the way down.

BTC/USD 19/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $10,949 pivot level to support a run at the first major resistance level at $11,073.

Support from the broader market would be needed, however, for Bitcoin to breakout from Friday’s high $11,064.0.

Barring an extended crypto rally, the first major resistance level and current week high $11,105 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,188 before any pullback.

Failure to avoid a fall through the $10,949 pivot would bring the first major support level at $10,834 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,700 levels. The second major support level at $10,710 should limit any downside.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 19th, 2020

EOS

EOS fell slid by 1.86% on Friday. Reversing a 0.96% gain from Thursday, EOS ended the day at $2.6891.

It was a mixed start to the day. EOS slipped to an early morning low $2.7144 before striking a late morning intraday high $2.7598.

Falling short of the first major resistance level at $2.7797, EOS fell to a late afternoon intraday low $2.6501

EOS fell through the first major support level at $2.6945 to find support at the second major support level at $2.6505.

Off the back of the late support, EOS briefly revisited $2.69 levels before wrapping up the day at $2.68 levels. The first major support level at $2.6945 pinned EOS back late in the day.

At the time of writing, EOS was down by 0.22% to $2.6833. A bearish start to the day saw EOS fall from an early morning high $2.6928 to a low $2.6799.

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

EOS/USD 19/09/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.6997 pivot level to support a run at the first major resistance level at $2.7492.

Support from the broader market would be needed, however, for EOS to break out from $2.70 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $2.7598 would likely cap any upside.

Failure to move through the pivot level at $2.6997 would bring the first major support level at $2.6395 into play.

Barring an extended sell-off, however, EOS should steer of the second major support level at $2.5900.

Looking at the Technical Indicators

First Major Support Level: $2.6395

Pivot Level: $2.6997

First Major resistance Level: $2.7492

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum fell by 1.25% on Friday. Partially reversing a 6.63% rally from Thursday, Ethereum ended the day at $384.64.

It was a mixed start to the day. Ethereum rose to an early morning intraday high $392.69 before hitting reverse.

Falling short of the first major resistance level at $401.53, Ethereum slid to a late afternoon intraday low $375.19.

Steering clear of the first major support level at $370.38, Ethereum broke back through to $384 levels to limit the loss.

At the time of writing, Ethereum was down by 0.32% to $383.39. A bearish start to the day saw Ethereum fall from an early morning high $384.71 to a low $382.59.

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

ETH/USD 19/09/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $384.17 pivot to support a run at the first major resistance level at $393.16.

Support from the broader market would be needed, however, for Ethereum to break back through to $390 levels.

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

Failure to move through the $384.17 pivot would bring the first major support level at $375.66 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The 38.2% FIB of $367 and the second major support level at $366.67 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $375.66

Pivot Level: $384.17

First Major Resistance Level: $393.16

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 0.49% on Friday. Partially reversing a 2.07% gain from Thursday, Ripple’s XRP ended the day at $0.25081.

It was a mixed start to the day. Ripple’s XRP slipped to an early morning low $0.25061 before making a move.

Avoiding sub-$0.25 levels and the major support levels, Ripple’s XRP rallied to a mid-morning intraday high $0.25502.

Falling short of the first major resistance level at $0.2584, Ripple’s XRP slid to a late afternoon intraday low $0.24662.

Finding support at the first major support level at $0.2461, Ripple’s XRP revisited $0.2510 levels before easing back.

At the time of writing, Ripple’s XRP was down by 0.40% to $0.24981. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25072 to a low $0.24934.

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

XRP/USD 19/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2508 pivot to support a run at the first major resistance level at $0.2550.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.255 levels.

Barring an extended crypto rally, the first major resistance level and Friday high $0.25502 would likely limit any upside.

Failure to move through the $0.2508 pivot would bring the first major support level at $0.2466 into play.

Barring an extended crypto sell-off, Ripple’s XRP should steer clear of sub $0.24 levels. The second major support level at $0.2424 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2466

Pivot Level: $0.2508

First Major Resistance Level: $0.2550

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 – September 18th, 2020

Bitcoin, BTC to USD, slipped by 0.11% on Thursday. Following a 1.60% gain on Wednesday, Bitcoin ended the day at $10,959.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,069.2 before hitting reverse.

Falling short of the first major resistance level at $11,157, Bitcoin slid to an early afternoon intraday low $10,765.9.

Steering clear of the first major support level at $10,734, Bitcoin recovered to a high $10,985.3 before falling back into the red.

The near-term bullish trend remained intact, supported by the latest visit 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 another mixed day on Thursday.

Binance Coin and Bitcoin Cash ABC bucked the trend, falling by 2.69% and by 0.77% respectively.

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

Ethereum (+6.63%), Monero’s XMR (+4.98%), and Tron’s TRX (+6.96%) led the way.

Cardano’s ADA (+2.78%), Litecoin (+2.41%), and Ripple’s XRP (+2.07%) also found strong support.

Bitcoin Cash SV (+1.19%), EOS (+0.96%), Stellar’s Lumen (+0.49%), and Tezos (+0.13%) trailed the front runners, however.

In the current week, the crypto total market fell to a Monday low $314.21bn before rising to a Thursday high $339.95bn. At the time of writing, the total market cap stood at $332.77bn.

Bitcoin’s dominance rose from a Monday low 59.64% to a Wednesday high 61.56%. At the time of writing, Bitcoin’s dominance stood at 60.54%.

This Morning

At the time of writing, Bitcoin was down by 0.40% to $10,915.0. A mixed start to the day saw Bitcoin rise to an early morning high $10,971.0 before falling to a low $10,912.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin ABC was up by 0.26% to buck the trend early on.

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

At the time of writing, Tron’s TRX was down by 1.17% to lead the way down.

BTC/USD 18/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $10,931 pivot level to support a run at the first major resistance level at $11,097.

Support from the broader market would be needed, however, for Bitcoin to breakout from Thursday’s high $11,069.2.

Barring an extended crypto rally, the first major resistance level and current week high $11,105 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,235 before any pullback.

Failure to move back through the $10,931 pivot would bring the first major support level at $10,794 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,700 levels. The second major support level sits at $10,628.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 18th, 2020

EOS

EOS rose by 0.96% on Thursday. Following on from a 0.30% gain on Wednesday, EOS ended the day at $2.7384.

It was a particularly bullish start to the day. EOS rallied to an early morning intraday high $2.7770 before hitting reverse.

Falling short of the first major resistance level at $2.7868, EOS fell to a late morning intraday low $2.6918

Steering clear of the first major support level at $2.6071, EOS recovered to a late high $2.7621 before easing back.

At the time of writing, EOS was up by 0.16% to $2.7428. A mixed start to the day saw EOS fall to an early morning low $2.7368 before rising to a high $2.7466.

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

EOS/USD 18/09/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $2.7357 pivot level to support a run at the first major resistance level at $2.7797.

Support from the broader market would be needed, however, for EOS to break out from Thursday’s high $2.7770.

Barring an extended crypto rally, the first major resistance level and resistance at $2.80 would likely cap any upside.

Failure to avoid a fall through the pivot level at $2.7357 would bring the first major support level at $2.6945 into play.

Barring an extended sell-off, however, EOS should continue to steer clear of sub-$2.60 levels. The second major support level at $2.6505 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $2.6945

Pivot Level: $2.7357

First Major resistance Level: $2.7797

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rallied by 6.63% on Thursday. Following on from a 0.32% gain on Wednesday, Ethereum ended the day at $389.45.

Bullish for the day, Ethereum rallied from an early morning intraday low $363.40 to a late intraday high $394.55.

Ethereum broke through the first major resistance level at $374.07 and the second major resistance level at $382.90.

On the day, Ethereum also broke through the 38.2% FIB of $367 to visit $390 levels for the 1st time since Sunday.

A late pullback left Ethereum at sub-$390 at the day end, however.

At the time of writing, Ethereum was up by 0.67% to $392.06. A mixed start to the day saw Ethereum fall to an early morning low $389.07 before rising to a high $392.69.

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

ETH/USD 18/09/20 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the $382.47 pivot to support a run at the first major resistance level at $401.53.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $394.55.

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

Failure to avoid a fall through the $382.47 pivot would bring the first major support level at $370.38 into play.

Barring an extended sell-off, however, Ethereum should steer well clear of sub-$350 levels. The 38.2% FIB and the second major support level at $351.32 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $370.38

Pivot Level: $382.47

First Major Resistance Level: $401.53

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 2.07% on Thursday. Following on from a 1.66% gain on Wednesday, Ripple’s XRP ended the day at $0.25222.

It was a particularly bullish start to the day. Ripple’s XRP rallied to an early morning intraday high $0.25849 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2538 before sliding back to a late morning intraday low $0.24613.

Steering clear of the first major support level at $0.2372, however, Ripple’s XRP bounced back to a late high $0.25531.

Ripple’s XRP broke back through the first major resistance level at $0.2538 before easing back to sub-$0.2530 levels.

At the time of writing, Ripple’s XRP was up by 0.54% to $0.25359. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.25205 to a high $0.25367.

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

XRP/USD 18/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2523 pivot to support a run at the first major resistance level at $0.2584.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.2580 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $0.26 would likely limit any upside.

Failure to avoid a fall through the $0.2523 pivot would bring the first major support level at $0.2461 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 $0.2399.

Looking at the Technical Indicators

First Major Support Level: $0.2461

Pivot Level: $0.2523

First Major Resistance Level: $0.2584

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 – September 17th, 2020

Bitcoin, BTC to USD, rose by 1.60% on Wednesday. Following on from a 1.00% gain on Tuesday, Bitcoin ended the day at $10,971.3.

It was a bearish start to the day. Bitcoin fell to an early morning intraday low $10,682.0 before making a move.

Steering clear of the first major support level at $10,647, Bitcoin rallied to a late afternoon intraday high $11,105.0.

Bitcoin broke through the first major resistance level at $10,946 and the second major resistance level at $11,094.

A late pullback, however, saw Bitcoin fall back through the second major resistance level to wrap up the day at sub-$11,000 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 another mixed day on Wednesday.

Binance Coin (+2.73%), EOS (+0.30%), Ethereum (+0.32%), Ripple’s XRP (+1.66%), and Stellar’s Lumen (+2.71%) joined Bitcoin in the green.

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

Tron’s TRX and Monero’s XMR led the way down, with losses of 3.19% and 5.15% respectively.

Bitcoin Cash ABC (-0.55%), Bitcoin Cash SV (-2.93%), Cardano’s ADA (-1.63%), Litecoin (-1.20%), and Tezos (-1.21%) also struggled.

In the current week, the crypto total market fell to a Monday low $314.21bn before rising to a Tuesday high $337.85bn. At the time of writing, the total market cap stood at $335.17bn.

Bitcoin’s dominance rose from a Monday low 59.64% to a Wednesday high 61.56%. At the time of writing, Bitcoin’s dominance stood at 60.87%.

This Morning

At the time of writing, Bitcoin was up by 0.74% to $11,052.7. A bullish start to the day saw Bitcoin rise from an early morning low $10,947.1 to a high $11,069.2.

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

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

At the time of writing, Ethereum and Ripple’s XRP were up by 3.77% and by 3.59% to lead the way.

BTC/USD 17/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $10,919 pivot level to support a run at the first major resistance level at $11,157.

Support from the broader market would be needed, however, for Bitcoin to breakout from Wednesday’s high $11,105.0.

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

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,342 before any pullback.

Failure to avoid a fall through the $10,919 pivot would bring the first major support level at $10,734 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,700 levels. The second major support level sits at $10,496.

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – September 17th, 2020

EOS

EOS rose by 0.30% on Wednesday. Partially reversing a 0.92% fall from Tuesday, EOS ended the day at $2.7130.

It was a particularly bearish start to the day. EOS tumbled to an early morning intraday low $2.5750 before making a move.

The sell-off saw EOS fall through the first major support level at $2.6685 and the second major support level at $2.6325.

Finding support through the day, EOS rallied to a late afternoon intraday high $2.7547 before easing back.

In spite of the rebound, EOS came up short of the first major resistance level at $2.7641 on the day.

At the time of writing, EOS was down by 0.18% to $2.7078. A bearish start to the day saw EOS fall from an early morning high $2.7145 to a low $2.7056.

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

EOS/USD 17/09/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $2.6809 pivot level to support a run at the first major resistance level at $2.7868.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.7547.

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

Failure to avoid a fall through the pivot level at $2.6809 would bring the first major support level at $2.6071 into play.

Barring an extended sell-off, however, EOS should continue to steer clear of the second major support level at $2.5012.

Looking at the Technical Indicators

First Major Support Level: $2.6071

Pivot Level: $2.6809

First Major resistance Level: $2.7868

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum rose by 0.32% on Wednesday. Following a 3.46% slide from Tuesday, Ethereum ended the day at $365.23.

Tracking the broader market, Ethereum tumbled to an early morning intraday low $355.00 before making a move.

Ethereum fell through the first major support level at $356.88 before striking a late afternoon intraday high $373.37.

While falling short of the first major resistance level at $377.14, Ethereum briefly broke through the 38.2% FIB of $367.

A late pullback, however, saw Ethereum fall back through the 38.2% FIB to wrap up the day at $365 levels.

At the time of writing, Ethereum was down by 0.37% to $363.89. A bearish start to the day saw Ethereum fall from an early morning high $365.22 to a low $363.40

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

ETH/USD 17/09/20 Hourly Chart

For the day ahead

Ethereum would need to move through the $364.54 pivot and 38.2% FIB to support a run at the first major resistance level at $374.07.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesday’s high $373.37.

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

Failure to move through the $364.53 pivot and the 38.2% FIB would bring the first major support level at $355.70 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$350 levels. The second major support level sits at $346.16.

Looking at the Technical Indicators

First Major Support Level: $355.70

Pivot Level: $364.53

First Major Resistance Level: $374.07

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP rose by 1.66% on Wednesday. Reversing a 0.92% decline from Tuesday, Ripple’s XRP ended the day at $0.24688.

It was a particularly bearish start to the day. Ripple’s XRP slumped to an early morning intraday low $0.23441 before making a move.

Ripple’s XRP fell through the first major support level at $0.2409 and the second major support level at $0.2384.

Steering clear of the third major support level at $0.2318, Ripple’s XRP bounced back to a late intraday high $0.2510.

Ripple’s XRP broke through the first major resistance level at $0.2475, before falling back to wrap up the day at sub-$0.2470 levels.

At the time of writing, Ripple’s XRP was up by 0.69% to $0.24858.  A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.24710 to a high $0.24858.

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

XRP/USD 17/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.2441 pivot to support a run at the first major resistance level at $0.2538.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Wednesday’s high $0.2510.

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

Failure to avoid a fall through the $0.2441 pivot would bring the first major support level at $0.2372 into play.

Barring an extended crypto sell-off, Ripple’s XRP should continue to steer clear of sub $0.23 levels. The second major support level sits at $0.2275.

Looking at the Technical Indicators

First Major Support Level: $0.2371

Pivot Level: $0.2441

First Major Resistance Level: $0.2538

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

EOS

EOS fell by 0.92% on Tuesday. Reversing a 0.16% gain from Monday, EOS ended the day at $2.7046.

It was a mixed start to the day. EOS rose to an early morning intraday high $2.7876 before hitting reverse.

EOS broke through the first major resistance level at $2.7758 before sliding to an early afternoon low $2.6938.

Steering clear of the first major support level at $2.6882, EOS briefly revisited $2.74 levels before falling back into the red. The late pullback saw EOS fall to an intraday low $2.6920 before recovering to $2.70 levels. In spite of the late reversal, EOS continued to steer clear of the first major support level at $2.6882.

At the time of writing, EOS was down by 0.51% to $2.6908. A bearish start to the day saw EOS fall from an early morning high $2.7073 to a low $2.6894.

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

EOS/USD 16/09/20 Hourly Chart

For the day ahead

EOS would need to move through the $2.7281 pivot level to support a run at the first major resistance level at $2.7641.

Support from the broader market would be needed, however, for EOS to break out from $2.75 levels.

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

Failure to move through the pivot level at $2.7281 would bring the first major support level at $2.6685 into play.

Barring an extended sell-off, however, EOS should continue to steer clear of sub-$2.60 levels. The second major support level at $2.6325 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2.6685

Pivot Level: $2.7281

First Major resistance Level: $2.7641

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Ethereum

Ethereum slid by 3.46% on Tuesday. Reversing a 2.92% gain from Monday, Ethereum ended the day at $364.2.

Tracking the broader market, Ethereum rose to an early morning intraday high $382.76 before hitting reverse.

Falling short of the first major resistance level at $389.37, Ethereum slid to a late intraday low $362.50.

While steering clear of the first major support level at $360.42, Ethereum fell through the 38.2% FIB of $367.

Finding late support, Ethereum briefly revisited $368 levels before wrapping up the day at $364 levels. The 38.2% FIB pinned Ethereum back late in the day.

At the time of writing, Ethereum was down by 0.88% to $361.01. A bearish start to the day saw Ethereum fall from an early morning high $364.68 to a low $360.71.

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

ETH/USD 16/09/20 Hourly Chart

For the day ahead

Ethereum would need to move through the 38.2% FIB and the $370 pivot to support a run at the first major resistance level at $377.

Support from the broader market would be needed, however, for Ethereum to break out from $375 levels.

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

Failure to move through the 38.2% FIB and the $370 pivot would bring the first major support level at $357 into play.

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

Looking at the Technical Indicators

First Major Support Level: $357

Pivot Level: $370

First Major Resistance Level: $377

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP fell by 0.92% on Tuesday. Partially reversing a 1.48% gain from Monday, Ripple’s XRP ended the day at $0.24344.

It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.2490 before hitting reverse.

Coming within range of the first major resistance level at $0.2497, Ripple’s XRP fell to a late morning low $0.24257.

Steering clear of the first major support level at $0.2403, Ripple’s XRP bounced back to $0.248 levels before sliding back into the red.

The late reversal saw Ripple’s XRP fall to a final hour intraday low $0.24241. In spite of the pullback, Ripple’s XRP continued to avoid the first major support level at $0.2403, however.

At the time of writing, Ripple’s XRP was down by 1.04% to $0.24091. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.24284 to a low $0.24069.

Ripple’s XRP fell through the first major support level at $0.2409 early on.

XRP/USD 16/09/20 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.2450 pivot to support a run at the first major resistance level at $0.2475.

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

Barring an extended crypto rally, the first major resistance level would likely leave Ripple’s XRP short of $0.25 levels.

Failure to move through the $0.2450 pivot would bring the first major support level at $0.2409 back into play.

Barring an extended crypto sell-off, Ripple’s XRP should continue to steer clear of sub $0.2350 levels. The second major support level at $0.2384 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.2409

Pivot Level: $0.2450

First Major Resistance Level: $0.2475

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 Breakout While Ethereum Consolidates

Bitcoin Breaks Out of Consolidation Pattern, Aiming for $11,300

On Monday, September 14th, the pioneer cryptocurrency appears to have broken out of the consolidation pattern mentioned above. Although BTC opened Monday’s trading session hovering around the triangle’s hypotenuse at $10,366.72, it quickly began to trend up. A steady increase in buying pressure behind Bitcoin at around 1:00 UTC saw its price shoot up over 4% throughout the following 15 hours.

By 16:00 UTC, BTC had turned the x-axis of the ascending triangle into support, confirming the bullish breakout. Bitcoin was able to rise to an intraday high of $10,760.62 but suffered a small correction towards the end of the day. As Monday’s trading session came to an end, the bellwether cryptocurrency had retraced 0.73% to $10,679.95.

Due to the bullish price action, Bitcoin provided investors a daily return of 3.32%. Now, a further spike in demand could see its price surge towards $11,300, which is the target presented by the ascending triangle pattern. On-chain data reveals that there is no significant supply barrier ahead of BTC that will prevent it from achieving its upside potential.

Ethereum’s Price Continues To Be Contained Within a Parallel Channel

Ethereum’s 1-hour chart shows its price seems to be contained within an ascending parallel channel since September 6th. Since then, each time the smart contracts giant rises to this technical formation’s upper boundary, it gets rejected and drops to the lower border. From this point, it tends to bounce back up, which is consistent with a channel’s characteristics.

Such price behavior was seen on Monday, September 14th. Ethereum kicked off the day at a high of $366.58 and quickly dropped to test the support provided by the lower boundary of the ascending parallel channel. This hurdle was able to hold, allowing prices to rebound, just like it has happened in the last eight days.

The rejection from this support level was followed by a 7.38% upswing that saw Ether rise to the parallel channel’s middle line. The second-largest cryptocurrency by market capitalization was able to make an intraday high of $384.61. However, investors appear to have taken advantage of the rising price action to realize profits.

The spike in sell orders led to a 3.44% correction, pushing Ethereum back down to a low of $371.38. But as the day came to an end, ETH recovered some of the losses incurred and closed at $377.28. Investors were able to grasp a daily return of 2.92%.

Ambiguous Outlook for the Top Two Cryptocurrencies

While Bitcoin seems poised for a further advance to $11,300, things do not look optimistic for Ethereum. The parallel channel that the smart contracts giant has formed within its hourly chart looks to be part of a bear flag in higher time frames. The downswing at the beginning of the month created the flagpole while the ongoing consolidation period created the flag.

If this technical pattern is validated, Ether could be bound for a 35% downswing towards $230. Several on-chain metrics suggest that the $360-$370 support level may have the ability to hold since 650,000 addresses are holding over 10 million ETH around this price level. Although such a significant supply wall could absorb some of the selling pressure, slicing though it could be catastrophic for Ethereum.

Given the ambiguous outlooks that Bitcoin and Ethereum present, it is imperative to implement a robust risk management strategy to avoid getting caught on the wrong side of the trend.

For a look at all of today’s economic events, check out our economic calendar.

Konstantin Anissimov, Executive Director at CEX.IO

The Crypto Daily – Movers and Shakers – September 15th, 2020

Bitcoin, BTC to USD, rallied by 3.47% on Monday. Reversing a 1.22% decline from Sunday, Bitcoin ended the day at $10,689.9.

It was a bearish start to the day. Bitcoin fell to an early morning intraday low $10,259.0 before making a move.

Steering clear of the first major support level at $10,167, Bitcoin rallied to a late afternoon intraday high $10,773.0.

Bitcoin broke through the first major resistance level at $10,559 to come within range of the second major resistance level at $10,787.

Easing back late in the day, Bitcoin slipped back to sub-$10,700 levels to limit the upside on the day.

The near-term bullish trend remained intact, in spite of the latest pullback to sub-$10,000. 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 another mixed day on Monday.

Bitcoin Cash SV (-0.60%), Tezos (-0.49%), and Tron’s TRX (-0.58%) saw red to buck the trend on the day.

It was a bullish day for the rest of the pack.

Monero’s XMR led the way, rallying by 6.86%.

Bitcoin Cash ABC (+1.16%), Cardano’s ADA (+1.57%), Ethereum (+2.92%), Litecoin (+1.93%), and Ripple’s XRP (+1.48%) also found strong support.

EOS (+0.16%), Stellar’s Lumen (+0.26%), and Stellar’s Lumen (+0.26%) trailed the front runners.

In the current week, the crypto total market fell to a Monday low $314.21bn before rising to a Monday high $333.72bn. At the time of writing, the total market cap stood at $327.96bn.

Bitcoin’s dominance rose from a Monday low 59.64% to a high 60.32%. At the time of writing, Bitcoin’s dominance stood at 60.21%.

This Morning

At the time of writing, Bitcoin was up by 0.01% to $10,691.0. A mixed start to the day saw Bitcoin rise to an early morning high $10,716.2 before falling to a low $10,664.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-2.72%), EOS (-0.17%), Ethereum (-0.33%), Litecoin (-0.24%), and Tron’s TRX (-0.70%) saw red early on.

It was a relatively bullish start for the rest of the majors.

At the time of writing, Bitcoin Cash SV was up by 1.28% to lead the way.

BTC/USD 15/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $10,574 pivot level to support a run at the first major resistance level at $10,889.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $10,773.0.

Barring an extended crypto rally, the first major resistance level and resistance at $11,000 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,088 to eye $11,500 levels before any pullback.

Failure to avoid a fall through the $10,574 pivot would bring the first major support level at $10,375 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $10,060 and sub-$10,000.