Cryptocurrency Weekly Analysis

Weekly Technical Analysis of Digital Currencies December 29 (December 9)


Technical analysis of the price of Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Cardano, Binance Coin, Polkadot, Stellar and China. Read the link for today (January 29) below:

Weekly technical analysis of bitcoin prices

The price of Bitcoin on December 17 formed a Dodge candle with a long wick in daily time frame. This price candle indicates the traders’ profit reserve above the level of $ 27,000. Buyers are currently trying to stabilize the price above this level.

Weekly Technical Analysis of Digital Currencies December 29 (December 9)
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If the bear market manages to lower the price below $ 25,819.69, it is likely to fall quickly to $ 24,302.50 and then to the 20-day moving average (EMA 20 – blue line in the picture) at 22,951 The dollar will be possible.

A strong jump in prices from this support indicates that the uptrend remains intact and buyers enter the market in the downturn. In such a situation, buyers will try to continue the upward trend.

However, if sellers push the price below this moving average, the $ 28,422 level would probably be the short-term price cap. Under such circumstances, the price correction is likely to deepen to the simple 50-day moving average (SMA 50 – red line in the picture) at $ 19,577.

On the other hand, if buyers manage to move the price above $ 28,419.94, the price may test the psychological level of $ 30,000, which is likely to be a key resistance to the price.

  • Resistances: 28,422 – 30,000
  • Supports: 25,819.69 – 24,302,50 – 22,951 – 19,577

Weekly technical analysis of Ethereum prices

Ethereum jumped $ 566 on December 23 from the 50-day moving average (SMA 50 – red line in the picture). This is a sign of the flow of good cows at every drop in price. The group pushed the price back above $ 622,807 on December 25, which could mean the end of the price correction.

Weekly Technical Analysis of Digital Currencies December 29 (December 9)
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Ethereum’s price accelerated on December 27, breaking the high resistance at $ 676,325. This indicates the continuation of the upward trend in prices. The next target on the uptrend will be $ 800.

The upward slope of the moving averages and the placement of the Relative Strength Index (RSI) near the maximum or saturation zone of the purchase indicate the superiority of the buyers. The view of the price rising with the rotation and falling below the support of $ 622,807 will be eliminated.

  • Resistance: 800
  • Support: 622,807

Ripple Price Weekly Technical Analysis

Ripple prices are on a downward trend. The price fell below the key support of $ 0.435 on December 23, which increased the selling pressure and continued to fall to $ 0.2132.

Weekly Technical Analysis of Digital Currencies December 29 (December 9)
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The downtrend of the 20-day moving average (EMA 20 – blue line in the picture) and the relative strength index (RSI) in its negative area indicate the superiority of sellers. When market sentiment declines, sellers re-enter the market at each price recovery wave. On December 25, the price fell below the 38.2% Fibonacci retracement level of the last bearish wave at $ 0.384998.

However, buyers in the current situation are trying to keep the price above the $ 0.25 support. In this case, there is a possibility of price fluctuations in the range of $ 0.25 to $ 0.38 for a few days. The first sign of price strengthening will be the break above the 20-day moving average at $ 0.426.

  • Resistances: 0.38 – 0.426
  • Supports: 0.25

Weekly technical analysis of Litecoin price

The price of Litecoin on December 25 has risen above its flag pattern and resistance of $ 124,1278. This is a sign that the price is continuing to rise. The target for this template is the $ 160 level.

Weekly Technical Analysis of Digital Currencies December 29 (December 9)
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However, sellers will not give up easily and will try to delay the uptrend in the high resistance at $ 140. If these people manage to lower the price below $ 124,1278, it will be possible to continue the fall to the 20-day moving average (EMA 20 – blue line in the picture) at $ 107.

On the other hand, if buyers succeed in defending the price at the level of $ 124,1278, it will be a sign that this resistance will turn into support. Such a move would increase the likelihood of a break above the resistance level of $ 140 to $ 145.

The upward slope of the moving average and the relative strength index (RSI) in the saturated buying area mean that the upward trend of the price is likely to continue.

  • Resistances: 140-160
  • Supports: 124.1278 – 107

Weekly technical analysis of bitcoin cache price

Buyers are currently trying to push the price of Bitcoin Cash above the $ 370 resistance. Success in this move will be a positive sign for the price, because in the last two times that the price has attacked this level, it has changed its direction rapidly.

Weekly Technical Analysis of Digital Currencies December 29 (December 9)
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The upward slope of the moving averages and the relative strength index (RSI) above 64 indicate the superiority of buyers. If buyers manage to guide and stabilize the price above the $ 370 level, it will be possible to increase the price up to $ 409 and above it up to $ 430.

On the other hand, if buyers again defend the $ 370 resistance and the price moves rapidly downwards, limited price fluctuations between $ 255 and $ 377 will be possible in the next few days.

  • Resistances: 370 – 409 – 430
  • Supports: 255

Weekly technical analysis of Polkadot prices

The price of Polkadot has been trading in the range of $ 3.53 to $ 5.60 over the past few weeks. Buyers were able to move the price above the resistance level of $ 5.60 to $ 6,0857 yesterday.

Weekly Technical Analysis of Digital Currencies December 29 (December 9)
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If buyers manage to stabilize the price above $ 6,0857, there is a possibility of starting the next bullish wave with a target of $ 6.8619 and above it up to $ 7.67. The upward slope of the moving averages and the relative strength of the index above the level of 68, indicate the superiority of market cows.

Sellers are likely to defend the $ 6.8619 level, but if buyers do not allow the price to fall below $ 6, it would be a sign that the uptrend is still intact. This uptrend will be ruled out if it falls below $ 5.60 again.

  • Resistances: 6.0857 – 6.8619 – 7.67
  • Supports: 6 – 5.60

Weekly Technical Analysis of Cardano Price

Cardano’s price jumped above $ 0.13 support on December 24, and buyers have been trying to stabilize above the 20-day moving average (EMA 20 – blue line in the picture) at $ 0.154 since then. This will be a positive sign for the price, as it indicates its readiness to move above the resistance area of ​​$ 0.175 to $ 0.1826315.

Weekly Technical Analysis of Digital Currencies December 29 (December 9)
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The Relative Strength Index (RSI) is entering its positive zone and the slope of the 20-day moving average is gradually increasing. This means buyers’ efforts to consolidate market dominance. If the group manages to push the price above the resistance area, it will be possible to continue the uptrend with a target of $ 0.22 and above it up to $ 0.235.

On the other hand, if the price moves down from the level of $ 0.175, there will be a possibility of limited price fluctuations for a few days.

  • Resistances: 0.175 – 0.1826315 – 0.22 – 0.235
  • Supports: 0.13

Weekly Technical Analysis of Binance coin Price

Buyers are currently trying to push the Bainance Quinn price above the $ 35.69 resistance. If successful, it will be possible to continue the uptrend with the historical ceiling (ATH) at $ 39.5941.

Weekly Technical Analysis of Digital Currencies December 29 (December 9)
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Sellers will most likely prevent the continuation of the uptrend above the historical ceiling, but the uptrend of moving averages and the relative strength of the RSI in the positive area indicate the superiority of buyers.

Above the $ 39,5941 level, the price is likely to increase and accelerate to $ 50. This uptrend will be eliminated by moving the price from current levels and falling below the simple 50-day moving average (SMA 50 – red line in the picture) at $ 30. Such a move shows traders saving profits at higher price levels.

  • Resistances: 35.69 – 39.5941-50
  • Supports: 30

Weekly Technical Analysis of Chainlink Price

The price of Chainlink fell to $ 8.05 on December 23, but due to the long wick of price candles in the daily time frame, it can be said that it has moved away from its lower levels with strength.

Weekly Technical Analysis of Digital Currencies December 29 (December 9)
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The sellers’ failure to stabilize the price below $ 11.29 has attracted buyers who pushed the price to $ 13.2448 on December 27. However, given the high candle price near the $ 13.28 level, it can be said that the sellers will not give up easily.

The slope of both moving averages is horizontal and the relative strength index (RSI) is below its mid-range. These factors show the balance between supply and demand.

Buyers may gain market dominance by guiding and stabilizing prices above the downtrend line. On the other hand, a break below $ 10 would be a sign of sellers’ superiority.

  • Resistance: 13.28
  • Supports: 11.29 – 10

Weekly technical analysis of Stellar price

Buyers are trying to stabilize the price of Stellar above support at $ 0.14. However, any price jumps from the current levels will face the 20-day moving average resistance (EMA 20 – blue line in the picture) at $ 0.159 and above it at $ 0.17.

Weekly Technical Analysis of Digital Currencies December 29 (December 9)
Click on the image to see the original size

If the price moves from the upward resistance to the downside, the possibility of a break below $ 0.14 is eliminated. The next price support is on the downside at $ 0.11 and below it at $ 0.08.

On the other hand, if buyers manage to push the price above $ 0.17, it is likely to grow up to the downtrend line. Market sentiment is likely to remain negative as long as prices are trapped within the downtrend pattern.

A break above the price of this pattern eliminates the downtrend scenario and the $ 0.231655 target is likely to be seen.

  • Resistances: 0.159 – 0.17 – 0.231655
  • Supports: 0.14 – 0.11 – 0.08

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