Cryptocurrency Weekly Analysis

Weekly Technical Analysis of Digital Currencies June 22 (July 1)


Read the weekly technical analysis of the digital currencies of Bitcoin, Ethereum, Binance Coin, Cardano, Ripple, Dodge Coin, Polkadot, Uniswap, Bitcoin Cash and Litecoin.

Weekly technical analysis of bitcoin prices

On Saturday, we saw the formation of the death intersection on the Bitcoin chart. The formation of this intersection attracted more sellers in the market. As a result of increased sales pressure, the price of Bitcoin fell to $ 31,000.

Bitcoin price chart
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Buyers managed to prevent further falls in support of $ 31,000. Earlier, on May 23 (June 2) and June 8 (June 18), buyers had successfully defended this support. The relative strength index is forming an upward divergence which is considered a positive sign.

If the price recovers from $ 31,000, buyers can be expected to climb to $ 42,451. This could cause fluctuations in the range of $ 31,000 to $ 42,451 for several days.

It is also possible that the rally will resist the simple 50-day moving average (SMA50) at $ 41,904. If this resistance falls, sellers will try again to bring the price below $ 31,000.

If they succeed, the next potential destination is 28,000. After $ 28,000, the $ 20,000 range is the next support.

  • Resistances: 41,904 – 42,451
  • Supports: 31,000 – 28,000 – 20,000

Weekly technical analysis of Ethereum prices

Ethereum prices fell below the symmetrical triangle pattern on Friday. This shows that the price stabilization phase we have seen in recent days has been more in favor of sellers. Continued market pressure pushed the Ethereum price to a 200-day moving average (SMA200) at $ 1,870.

Ethereum Price Chart
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Buyers will now try to defend the area between the 200-day moving average and the May 23 floor at $ 1,728. If the price recovers from this area, buyers will again seek to return the price to the symmetrical triangle pattern. If they succeed in doing so, it indicates that buyers have accumulated at lower levels.

However, the 50-day moving average is slowly falling to $ 2,869 and the Relative Strength Index (RSI) is below 35; This means that sellers have a higher hand in the market. If sellers can push the price below this support area, it is likely to fall to $ 1,536 and then $ 1,293.

  • Resistances: 2,869
  • Supports: 1,870 – 1,728 – 1,536 – 1,293

Weekly Technical Analysis of Binance coin Price

The price of Binance coin fell below the trend line on Friday and sellers are currently looking to break the $ 291 support.

Bainance Quinn price chart
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If they succeed, they are likely to fall close and even break the 20-day moving average at $ 261. This area is an important support; Because the traders had strongly defended it on May 21st.

If the price recovers from the simple 200-day moving average, there is a possibility of climbing to the trend line. Breaking the trend line will probably pave the way for the price to reach $ 379 and then $ 433.

On the other hand, if traders can bring the price below the simple 200-day moving average, it is likely to fall to $ 200 or even $ 126.

  • Resistances: 379 – 433
  • Supports: 291 – 261 – 200 – 126

Weekly Technical Analysis of Cardano Price

Cardano fell below $ 1.33 yesterday after significant support. If sellers can stabilize the price in this area, Cardano may fall to the next $ 1 support.

Cardano price chart
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Buyers are likely to call everyone who looks appropriate, if there are only a few. It should not be forgotten that the simple moving average of 20 days is close to $ 1 and $ 0.98. If the price recovers from this area, it is likely to rise to $ 1.33; This area is expected to act as a strong resistance.

The fall in prices from this resistance reflects the negative sentiments of the market and traders sell in rallies. Breaking the 200-day moving average could pave the way for a drop to $ 0.8 and $ 0.68.

If the price starts to rise from the current levels and reaches above the simple 50-day moving average at $ 1.62, the downtrend will be nullified.

  • Resistances: 1.33 – 1.62
  • Supports: 1 – 0.98 – 0.8 – 0.68

Ripple Price Weekly Technical Analysis

On Sunday, we saw the Ripple price recover from the 200-day moving average at $ 0.72, but buyers failed to stabilize above $ 0.75. The re-increase in selling pressure pushed the price back below the simple 200-day moving average.

Ripple price chart
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If sellers lower the Ripple price below $ 0.65, there is a possibility that the selling pressure will intensify and this may cause the next support to fall to $ 0.43. The 50-day moving average is down $ 1.09 and is a relative strength indicator in the sell-off range, indicating that sellers have the upper hand in the market.

On the other hand, if the price recovers from $ 0.65, buyers will try again to stabilize the Ripple price above $ 0.75. Their success in doing so will mean that they have accumulated Ripple at lower levels. In this case, a rise to $ 0.93 and $ 1.07 is likely.

  • Resistances: 0.93 – 1.07 – 1.09
  • Supports: 0.75 – 0.65 – 0.43

Dogecoin Weekly Technical Analysis

The price of Dogecoin fell below the neck and shoulders pattern on Friday and continued to move downwards. Buyers are currently trying to defend 0.21 support.

Dogecoin price chart
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If the Dogecoin price recovers from $ 0.21, buyers will try to push the price back above the neck. Their success will indicate that we are seeing purchases at lower levels. In this case, there is a possibility of climbing to the simple 50-day moving average at $ 0.39.

On the other hand, if sellers push the price below $ 0.21, it is likely to fall to the simple 200-day moving average at $ 0.15. Buyers are likely to call everyone who looks appropriate, if there are only a few. However, if they fail to do so, they are likely to fall to significant $ 0.1 support.

  • Resistance: 0.39
  • Supports: 0.21 – 0.15 – 0.1

Weekly technical analysis of Polkadot prices

The price of Polkadot reached below the support line of the triangle pattern on Sunday, but buyers managed to return the price inside the pattern. However, the sellers did not intend to surrender, and yesterday we again saw the price of Polkadot fall below the support line of the triangle.

Polkadot price chart
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The downside slope of the 50-day moving average at $ 28.22 and the relative strength index in the negative range indicate that sellers have more power in the market. It is possible that Polkadot will reach below its key support at $ 15. It should not be forgotten that since January 16 (December 27, 1999), the price of Polkadot has not been closed under this support.

Therefore, it can be said that buyers are strongly defending the $ 15 support. A strong price recovery in this area could push the $ 20 up and then down the trend line. The breaking and closing of the high price of this resistance is the first sign of the market gaining strength again.

On the other hand, if the price falls below $ 15, it is likely that the market will fall to the next significant support at $ 7.5.

  • Resistances: 20 – 28.22
  • Supports: 15 – 7.5

Weekly technical analysis of Uniswap prices

The price of Uniswap on Friday fell below the simple 200-day moving average. Buyers’ failure to defend this support pushed supply beyond demand. After that, buyers tried to revive the price, but failed to reach above the simple 200-day moving average.

Click on the image to see the original size

This incident caused us to see another increase in sales pressure yesterday. The 50-day moving average is down 28.63 and the relative strength index is in the saturation range, indicating that sellers have the upper hand. If sellers bring the price below $ 16.49, it is likely to fall to key support at $ 13.04.

Buyers are expected to defend the $ 13.04 support. If the price recovers from this area, we may see the price stabilize between $ 13.04 and $ 21.5 in the coming days. On the other hand, breaking $ 13.04 could lead to a fall of $ 10.

  • Resistances: 21.5 – 28.63
  • Supports: 16.49 – 13.04 – 10

Weekly technical analysis of bitcoin cache prices

The price of Bitcoin Cash fell below $ 538.11 with the completion of the downtrend pattern. At $ 468.13 we see the formation of a weak support, but if this support is broken, the selling pressure will increase.

Bitcoin Cash Price Chart
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The average 50-day moving average is down $ 844 and the relative strength index is in the sell-off range, indicating that sellers are more powerful in the market. If sellers lower the price below $ 468.13, it is likely to fall further to $ 400 and then $ 370.

If the price recovers quickly above the simple 200-day moving average at $ 609, the downtrend we discussed earlier will lose its validity. In this case, it can be said that buyers have bought at lower levels in large volumes. This may lead to a climb to a simple moving average of 50 days.

  • Resistance: 609
  • Supports: 468.13 – 400 – 370

Weekly technical analysis of Litecoin price

The price of Litecoin fell below the support line on Friday; An issue that shows buyers were not required to support the purchase. Buyers’ failure to return prices to previous levels increased the selling pressure on the chart.

Litecoin Price Chart
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The simple 50-day moving average is down $ 222 and the relative strength index is in the buying saturation range, indicating that market control is largely in the hands of sellers. It is possible that LightQueen will touch the $ 118 floor again on May 23. The area is expected to act as a strong support, but if this support is broken, it can be said that LightCoin will reach $ 100 and then $ 70.

On the other hand, if the price recovers from $ 118.03, buyers will try to push the price up to the downtrend line. Closing the high price of this will indicate the strength of the market. Once buyers have been able to stabilize the price above the simple 50-day moving average, it can be said that the trend has changed.

  • Resistance: 222
  • Supports: 118-100-70

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