Cryptocurrency Weekly Analysis

Weekly Technical Analysis of Digital Currencies December 15 (December 25)


Technical analysis of the price of Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Cardano, Binance Coin, Polkadot, Stellar and China Read the link for today (December 16) below:

Weekly technical analysis of bitcoin prices

The price of Bitcoin on December 11 fell below the 20-day moving average (EMA 20 – blue line in the picture) at $ 18,492. But the move was the price of a bear trap, as the price quickly changed direction and moved above this moving average on December 12.

Weekly Technical Analysis of Digital Currencies December 15 (December 25)
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The wick of the high candle price on December 13 and the candle of Dodge yesterday show the sellers defending the high resistance at $ 19,500. However, these are positive factors and indicate that buyers have prevented prices from falling.

The uptrend of moving averages and the uptrend of the RSI above the level of 58 indicate the possibility of a continuation of the uptrend. If buyers manage to push the price above the resistance area of ​​$ 19,500 to $ 20,000, the bullish triangle pattern will be activated in the price target of $ 22,808.98.

On the other hand, if the price reverses from the current levels and sellers move the price below the lower side of the triangle, the price will continue to fall to the simple 50-day moving average (SMA 50 – red line in the picture) at $ 16,888 and below Up to $ 16,191.02 will be available. With the price jumping from this support, there will be a possibility of transverse price fluctuations in the short term.

  • Resistances: 19,500 – 20,000 – 22,808.98
  • Supports: 16,888-16,191.02

Weekly technical analysis of Ethereum prices

Ethereum prices have moved above their downtrend on December 13. This will be the first sign that the price correction is possible. If the buyer enters the market with a drop in price to the 20-day moving average (EMA 20 – blue line in the picture) at $ 564 and does not allow the price to stabilize within the channel, the strength of the trend will stabilize.

Weekly Technical Analysis of Digital Currencies December 15 (December 25)
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The price is in the early stages of forming an ascending triangle pattern that will be activated by breakout and stabilization above the $ 622,807 level. The target of this uptrend will be $ 763.614. The slope of the 20-day moving average is gradually increasing and the relative strength index (RSI) is above its mid-level. These factors show the superiority of buyers.

This uptrend will be eliminated by moving the price below this moving average and the triangle pattern. Such a move could lead the price to a simple 50-day moving average (SMA 50 – red line in the picture) at $ 501.

  • Resistance: 622.807 – 763.61
  • Support: 564-501

Ripple Price Weekly Technical Analysis

The bulls failed to stabilize the Ripple price above the 20-day moving average (EMA 20 – blue line in the picture) at $ 0.53. As a result, the price has moved down to $ 0.485419 on December 12. Buyers are taking in the plunge and keeping the price above $ 0.50.

Weekly Technical Analysis of Digital Currencies December 15 (December 25)
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However, the lack of an uptrend indicates that sellers are selling strongly. With the price stabilizing below $ 0.4850, there is a possibility of a deeper correction to the simple 50-day moving average (SMA 50 – red line in the picture) at $ 0.41.

The slope of the 20-day moving average is gradually decreasing and the relative strength index (RSI) is in its negative area. These two factors indicate the efforts of market bears in order to consolidate their superiority. The bearish view of the price will be eliminated by jumping from the current levels and moving up the slope of the 20-day moving average.

  • Resistances: 0.53
  • Supports: 0.4850 – 0.41

Weekly technical analysis of Litecoin price

The price of Litecoin jumped to $ 71 on December 11 after hitting a simple 50-day moving average (SMA 50 – red line in the picture). On December 13, buyers pushed the price above the 20-day moving average (EMA 20 – blue line in the picture) at $ 78. This indicates an accumulation flow at lower price levels.

Weekly Technical Analysis of Digital Currencies December 15 (December 25)
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It is possible that the price of Litecoin is symmetrical in the early stages of forming a triangle. Such a pattern acts as a continuous pattern. Market bears are likely to defend the upper side of the triangle. Meanwhile, buyers are waiting for the price to fall to the bottom of this pattern.

Out-of-pattern price breakout can continue the uptrend, while moving prices below it warns sellers of market dominance. The horizontal slope of the 20-day moving average and the relative strength index (RSI) in the middle area indicate that the price has entered the consolidation phase for a few days.

  • Resistance: 93.9282
  • Supports: 64,4482

Weekly technical analysis of bitcoin cache price

The price of Bitcoin Cash broke its $ 256.10 resistance on December 11 and moved higher to $ 282.21 on September 13. However, traders strongly defended this level and pushed the price back below the simple 50-day moving average (SMA 50 – red line in the picture) at $ 271.

Weekly Technical Analysis of Digital Currencies December 15 (December 25)
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Both moving averages are horizontal and the relative strength index is below its mid-range. These factors indicate the possibility of limited price fluctuations in the range of $ 231 and $ 280 for a few days.

On the other hand, if buyers push the price above the $ 280 level, the price is likely to rise to $ 300 and above $ 320. However, if sellers push the price below $ 231, the price will continue to fall to $ 200.

  • Resistances: 280-300-320
  • Supports: 231-200

Weekly Technical Analysis of Chainlink Price

The price of Chainlink went below the uptrend line on December 11, but buyers were manipulated by the price drop and pushed the price to the top of the line the next day. This has attracted more buyers and moved the price up to the high resistance at $ 13.28.

Weekly Technical Analysis of Digital Currencies December 15 (December 25)
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However, the price has moved down from this level and has moved below the moving averages again. These factors show the sellers’ defense against this resistance.

Both are moving horizontally and the relative strength index (RSI) is below its mid-level. These factors indicate the possibility of limited price fluctuations for a few days between $ 11.43 to $ 13.28. A break below $ 11.43 indicates the dominance of sellers over buyers and the possibility of falling prices up to $ 10. On the other hand, the breakout price above $ 13.28 will indicate the superiority of buyers.

  • Resistance: 13.28
  • Supports: 11.43

Weekly Technical Analysis of Cardano Price

The price of Cardano on December 13 went above the downtrend line and the 20-day moving average (EMA 20 – blue line in the picture) at $ 0.147. This indicates that the price correction may have been completed. However, market bears will not give up easily.

Weekly Technical Analysis of Digital Currencies December 15 (December 25)
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Sellers in the current situation are trying to delay the price recovery process at $ 0.155. If the group manages to lower the price below the 20-day moving average, the price is likely to fall to $ 0.13. If buyers enter the market in this downturn, there is a possibility of price fluctuations between $ 0.13 and $ 0.155 for a few days.

However, the high wick of price candles shows the buying flow at lower levels. The upward and gradual slope of the 20-day moving average and the relative strength index (RSI) above the level of 55, indicate the superiority of buyers. Above the $ 0.155 resistance, the price is likely to rise to $ 0.175.

  • Resistances: 0.155 – 0.175
  • Supports: 0.147 – 0.13

Weekly technical analysis of Polkadot prices

The price recovery trend of Polkadot has faced the dynamic resistance of the downtrend line. This shows the negative feelings of the market and the entry of bears in any price collision to the downtrend line.

Weekly Technical Analysis of Digital Currencies December 15 (December 25)
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The horizontal slope of the 20-day moving average (EMA 20 – blue line in the picture) and the relative strength of the index below the middle area indicate limited price fluctuations for several days between the two levels of $ 4.54 to $ 5.10.

With these interpretations, if the price moves below the level of $ 4.54, it will be possible for the price to continue to fall to $ 4.20 and below $ 3.80. The breakout price above $ 5.10 is the first sign of buyers trying to consolidate their dominance in the market.

  • Resistance: 5.10
  • Supports: 4.54 – 4.20 – 3.80

Weekly Technical Analysis of Binance coin Price

The current price of Binance Coin fluctuates in the open range between $ 25,6652 and $ 32. Consecutive intersections of moving averages and the placement of the Relative Strength Index (RSI) indicate the possibility of price fluctuations within this range for a longer period of time.

Weekly Technical Analysis of Digital Currencies December 15 (December 25)
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The price has moved above the moving averages and buyers are trying to push the price up to the high resistance at $ 32. This level has been used in the past as a strong resistance to price, and sellers are likely to defend this level strongly.

If this move is successful, the price fluctuations in the consolidation phase within this range will be more likely for a few days. On the other hand, if the market bulls push the price above the resistance level of $ 32 to $ 33,3888, there is a possibility that the next wave of the uptrend will start.

  • Resistances: 32 – 33.3888
  • Supports: 25,6652

Weekly technical analysis of Stellar price

The price of Stellar went above the downtrend line on December 13, which could be a warning that the price correction is over. However, bears will not leave the market easily.

Weekly Technical Analysis of Digital Currencies December 15 (December 25)
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The group is currently trying to defend the $ 0.18 resistance. The horizontal slope of the 20-day moving average (EMA 20 – blue line in the picture) and the relative strength index (RSI) slightly above its mid-range indicate a balance between supply and demand. This may keep the price in the range of $ 0.14 to $ 0.18 for a while.

If sellers manage to push the price below the 20-day moving average at $ 0.16, the price is likely to fall to $ 0.14. Failure of the price below this range will mean a rotation of superiority in favor of sellers. On the other hand, breakout price above $ 0.18 will pave the way for $ 0.205.

  • Resistances: 0.18 – 0.205
  • Supports: 0.16 – 0.14

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