Cryptocurrency Weekly Analysis

Weekly Technical Analysis of Digital Currencies September 28 (October 6)


You can read the technical analysis of Bitcoin, Ethereum, Cardano, Bainance Coin, Ripple, Solana, Polkadot, Dodge Coin, Olench and Luna prices.

Weekly technical analysis of bitcoin prices

The price of Bitcoin has been trading in the last few days between the 100-day moving average (SMA100) at $ 41,078 and the 20-day moving average (EMA20) at $ 44,982; This shows that buyers are buying on the floor and sellers are selling their currencies in every rally.

Bitcoin price chart
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The 20-day moving average has a downward slope and the Relative Strength Index (RSI) is below the midpoint, indicating that the way to reduce the price is smoother than to increase it. If sellers can bring prices below the simple 100-day moving average, sales pressure will increase.

In this case, it is likely to fall to $ 37,332. If buyers fail to defend this level, the way opens for a further fall to $ 30,000.

If the price jumps from the current levels and breaks the moving averages, it can be said that buyers are back in the market. In this case, $ 48,843.2 would be the potential destination for Bitcoin. $ 52,920 will be the next target for buyers in this uptrend.

  • Resistances: 44,982 – 48,843.2 – 52,920
  • Supports: 41,078 – 37,332 – 30,000

Weekly technical analysis of Ethereum prices

Ethereum candlesticks over the past three days show that buyers are buying ether close to the simple 100-day moving average at $ 2,756; Therefore, this level must be carefully monitored.

Ethereum Price Chart
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The downside of the 20-day moving average at $ 3,193 and the relative strength of the index below the mid-range indicate that sellers have a slight advantage in the market. If the price falls below current levels, it is likely that we will see fluctuations in a constant range in the coming days.

Breaking the simple 100-day moving average and falling below it may intensify the downtrend and fall to $ 2,400. The next destination will be $ 1,972.12. On the other hand, the closing of the price above the 20-day moving average will be the first sign of an increase in the market’s uptrend; In this case, there is a possibility of a jump of up to $ 3,600.

  • Resistances: 3,193 – 3,600
  • Supports: 2,756 – 2,400 – 1,972,12

Weekly Technical Analysis of Cardano Price

Buyers pushed Cardano above the moving average on Friday but failed to break the $ 2.47 resistance. This shows that the sellers still have a strong presence in the market and sell in every rally.

Cardano price chart
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Following the fall of Cardano, sellers are looking to push the digital currency to significant support at $ 1.94. This level is an important level for buyers, as breaking this support could lead to the beginning of a downtrend.

On the other hand, if the price jumps from current levels or $ 1.94, buyers will once again try to push Cardano above $ 2.47. If they succeed in doing so, it can be said that the reform process is over. In this case, there is a possibility of a rally up to $ 2.97.

  • Resistances: 2.47 – 2.97
  • Supports: 1.94

Weekly Technical Analysis of Binance coin Price

Binance coin fell below $ 340 support on Sunday, but buyers managed to prevent the price from closing below this support by buying on the floor. Buyers are currently looking for price fixes above $ 340; This means that in partial rallies, sellers also sell.

Bainance Quinn price chart
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If the Bainance Coin price falls below the $ 340 to $ 320 support area, it is likely that we will see a further fall to $ 300. The next target in this downtrend will be $ 250. The 20-day moving average is down $ 388 and the relative strength index is below 37, indicating more sellers in the market.

The first sign of market strength is a close above the 20-day moving average; This means that the selling pressure is decreasing. It is possible to see a rally up to $ 433 resistance.

  • Resistances: 2.47 – 2.97
  • Supports: 1.94

Ripple Price Weekly Technical Analysis

Over the past few days, the Ripple price has repeatedly jumped from the simple 100-day moving average to $ 0.88; Such a move shows that buyers are strongly defending this support. Buyers will now try to push the price above the resistance level between the 20-day moving average at $ 1.02 and the 50-day simple moving average (SMA50) at $ 1.1.

Ripple price chart
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If they succeed, it can be said that the market correction period is over. In this case, there is a possibility of jumping up to $ 1.41. Heavy resistance is expected to form in this area.

The 20-day moving average has an uptrend and the relative strength index is in the negative range, indicating that sellers have more control over the market. If the price falls below the 20-day moving average, the price is likely to fall to the simple 100-day moving average. If this support is not broken, we can say that we will see fluctuations in this period in the next few days.

If sellers stabilize the price below the simple 100-day moving average, a new round of ripple price fluctuations is likely to begin. This opens the way for a fall to $ 0.69.

  • Resistances: 1.02 – 1.1 – 1.41
  • Supports: 0.88 – 0.69

Weekly technical analysis of Solana price

The price of Solana yesterday managed to cross the downtrend line and the 20-day moving average at $ 143, which shows that the dominance of sellers in the market is declining. The 20-day moving average has flattened and the relative strength index is above the midpoint, indicating a balance between supply and demand.

Solana price chart
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If buyers can fix the price above $ 152.5, this balance will be upset in their favor. In this case, there is a possibility of a jump to $ 171.47. We are expected to see heavy resistance from sellers at this level.

If the price falls below current levels or resistance, sellers will try to bring the price below the simple 50-day moving average at $ 114. The closing of the price below this support will indicate a possible change in the trend. On the other hand, closing above $ 171.47 paves the way for crossing the $ 200.

  • Resistances: 143 – 152.5 – 171.47 – 200
  • Supports: 114

Weekly technical analysis of Polkadot prices

Polkadot fell below the 50-day moving average on $ 28.76 on Sunday, but the candlelight high that day shows that buyers are looking to defend the neck and shoulders pattern.

Polkadot price chart
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Buyers tried to push the price above the resistance at the 20-day moving average ($ 30.91), but Kendall’s high joy yesterday shows that sellers are selling their currencies in every rally.

If sellers can bring the price of Polkadot below the simple 50-day moving average, it will be possible to reach the neck again to break it. Closing the price below this support completes the head and shoulders pattern. The target for this template is $ 12.23.

On the other hand, if buyers push the price back above the downtrend line, we are likely to see $ 33.6 and $ 38.77.

  • Resistances: 30.91 – 33.6 – 38.77
  • Supports: 28.76 – 12.23

Dogecoin Weekly Technical Analysis

The Dogecoin fell below $ 0.21 on Friday, where it stabilized. Continued sell-off pushed the price down to $ 0.19 on Sunday, but the high candle of that day shows that buyers are strongly defending this support, which is a positive sign.

Dogecoin price chart
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Buyers are currently trying to push the price above the $ 0.21 resistance. If they succeed, the Dogecoin could jump to a $ 0.23 20-day moving average. This level is expected to act as a heavy resistance.

If the price falls below the 20-day moving average, sellers may lower the price to $ 0.19. Closing price below this level increases the probability of further fall to $ 0.15. On the other hand, closing above the 20-day moving average may jump to the simple 50-day moving average at $ 0.26.

  • Resistances: 0.21 – 0.26
  • Supports: 0.19 – 0.15

Weekly Technical Analysis of Olench Price

Kendall Olench’s high joy on Sunday shows that there is high demand at the low levels. Buyers will try to push the price to the high of $ 79.8.

Olench price chart
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The passage of the Olench price from the historical peak will be a sign of the continuation of the upward trend. Sellers may want to stop the uptrend in the current channel resistance line, but if buyers can cross the resistance line, they can expect to reach $ 100.

In addition, if prices fall below current levels and fall below the channel support line, we may see the start of a broader correction phase. A break of $ 60.04 paves the way for a fall to the simple 50-day moving average at $ 64.23.

  • Resistances: 79.8-100
  • Supports: 60.04 – 64.23

Luna Price Weekly Technical Analysis

The price of Luna, the digital currency of Protocol Terra, fell from $ 41.28 on Friday, but buyers did not allow further decline below the 20-day moving average at $ 34.51, which is a positive sign. This means that sellers are selling in rallies and buyers are buying more tokens at each price floor.

Luna Price Chart
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Moving averages have an upward slope, which indicates the superiority of buyers over sellers. On the other hand, a negative divergence in the relative strength index indicates the possibility of weakening the upward acceleration of prices.

If buyers are able to push the price above the downtrend line, it is likely that Luna will rise to the $ 45.01 peak again. Closing the price above this resistance will indicate the resumption of the uptrend.

In addition, if the price falls below current levels or the downtrend line and breaks the 20-day moving average, one can expect a further expansion to the 50-day simple moving average at $ 30.43.

  • Resistance: 45.01
  • Supports: 34.51 – 30.43

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