Cryptocurrency Weekly Analysis

Weekly Technical Analysis of Digital Currencies September 7 (September 16)


Read the weekly technical analysis of Bitcoin, Ethereum, Cardano, Binance Coin, Rapile, Dodge Coin, Polkadot, Uniswap and Chainlink digital currencies.

Weekly technical analysis of bitcoin prices

Bitcoin price fluctuations in the range of $ 46,200 to $ 50,500 ended on Sunday with the crossing of 50,500. Buyers pushed the price above $ 50,500 and around $ 51,000, indicating that the uptrend is continuing.

Bitcoin price chart
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Sellers will try to push the price of Bitcoin below $ 50,500 to trap aggressive buyers. If they succeed in doing so, it is likely that the price will fall to the 20-day moving average (EMA20) at $ 48,476.

This level is very important; Because in the previous days we witnessed a revival from this level. If the price recovers from the 20-day moving average again, it indicates that the sentiment in the market is still positive. In this case, buyers will once again try to continue the upward trend.

$ 55,000 is the first target of cattle traders. $ 60,000 is also considered as the next destination. If the sellers can bring the price below the 20-day moving average, this uptrend will be invalidated. This could cause traders to withdraw profits in the short term and fall to the 50-day moving average (SMA50) at $ 43,719.

  • Resistances: 55,000 – 60,000
  • Supports: 50,500 – 48,476 – 43,719

Weekly technical analysis of Ethereum prices

The price of Ethereum crossed $ 4,000 on Friday, but buyers failed to stabilize the price at higher levels. This shows that sellers are strongly defending this level. However, it can be said that the buyers did not give up as much as they should.

Ethereum Price Chart
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The current situation shows that buyers are not in a hurry to withdraw profits; Because they predict that the upward movement of prices will continue. On the other hand, moving averages have an upward slope, which indicates the superiority of buyers. It should not be forgotten that a negative divergence in the relative strength index (RSI) can indicate a weakening of the uptrend.

If sellers lower the price below $ 3,700, it is likely to fall to the 20-day moving average at $ 3,493. The strong price revival from this support indicates that buyers continue to accumulate Ethereum on the floor. In this case, they will try to raise the price to a historic high of $ 4,372.72. In addition, falling below $ 3,377.89 may indicate a reversal.

  • Resistances: 4,000 – 4,372.72
  • Supports: 3,700 – 3,377.89

Weekly Technical Analysis of Cardano Price

Vendors have tried several times to stop Cardano from jumping from $ 2.97 to $ 3.1. Negative divergence in the relative strength index also shows that the upward acceleration of prices is decreasing.

Cardano price chart
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Cardano is likely to fall below the 20-day moving average at $ 2.65 and is expected to act as a strong support. If the price recovers from this level, buyers will try again to cross the barrier of resistance ahead. If they succeed, the next goal will be to raise the price to $ 3.5.

On the other hand, if the price falls below the 20-day moving average, it is likely to fall to $ 2.47. A price recovery from this level will cause multi-day cross-fluctuations between $ 2.47 and $ 3.1. If 2.47 is broken, it can be considered a sign of a possible change in the trend.

  • Resistances: 2.97 – 3.1 – 3.5
  • Supports: 2.65-2.47

Weekly Technical Analysis of Binance coin Price

Buyers are looking to push the Bainance Coin price above the resistance level at $ 518.9. On the other hand, they did not allow the 20-day moving average to fall below $ 467, which is a positive sign. This indicates that buyers are accumulating at lower levels.

Bainance Quinn price chart
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If the price recovers from the 20-day moving average, buyers will try to raise Bainance Coin to $ 518.9. If they succeed, there is a possibility that the uptrend will continue and reach $ 600.

Falling below the 20-day moving average, on the other hand, is likely to fall sharply to $ 433. If buyers defend this area, we may see cross fluctuations in the range of $ 433 to $ 518.9 in a few days. Closing below $ 433 indicates that buyers have lost control of the market.

  • Resistances: 518.9 – 600
  • Supports: 467 – 433

Ripple Price Weekly Technical Analysis

Sellers on Saturday tried to push the Ripple price into the triangle pattern, but buyers bought on the floor. The purchase pushed the price above the $ 1.35 resistance, which indicates a resumption of the uptrend.

Ripple price chart
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If buyers fix the price above $ 1.35, one can expect a rally up to $ 1.66. Moving averages are bullish and the relative strength index is in the buy saturation range. These conditions show that the ascent is smoother than the fall.

On the other hand, if buyers fail to stabilize the price above $ 1.35, Ripple may return to the 20-day moving average at $ 1.19. This will increase the likelihood of cross-fluctuations between $ 1.05 and $ 1.35 over the next few days. The closing price below $ 1.05 indicates that sellers are back in the market.

  • Resistances: 1.35 – 1.66
  • Supports: 1.19 – 1.05

Dogecoin Weekly Technical Analysis

Although the Dogecoin price has been above the bearish pattern for the past three days, buyers are trying to reach the $ 0.35 target. This shows that sellers sell their currencies in rallies.

Dogecoin price chart
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The Dogecoin is likely to fall to a 20-day moving average at $ 0.29. If the price falls from this support, buyers will try again to raise the Dogecoin above $ 0.35. If they succeed, $ 0.45 is the next target.

On the other hand, if the price falls below the 20-day moving average, it is likely to fall to the simple 50-day moving average at $ 0.25. The 20-day moving average is slowly rising and the relative strength index is slightly above the mid-range, indicating a slight buyer advantage in the market.

This advantage will be lost to sellers if the simple 50-day moving average is broken. This opens the way for a fall to $ 0.21.

  • Resistances: 0.35 – 0.45
  • Supports: 0.29 – 0.25 – 0.21

Technical analysis of Polkadot price

The price of Polkadot is slowly advancing to higher levels after jumping from $ 28.6, but the slowness of the uptrend indicates that buyers are not very confident that the trend will continue. The Relative Strength Index also recorded a negative divergence, indicating a weakening of the price acceleration.

Polkadot price chart
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It is likely to fall to the $ 28.6 level, which is the starting point of the jump. If Polkadot is revived from this level with strength, it can be concluded that buyers are accumulating at lower levels. In this case, they will try to raise the price to higher levels. $ 41.4 will be their first destination in this uptrend.

Price recovery from $ 28.6 and stabilization below $ 35 is another possibility for Polkadot. This can lead to multi-day cross-fluctuations during this period. A stabilization below $ 28.6 would also indicate that the current jump was a bull trap. In this case, there is a possibility of falling to the simple 50-day moving average at $ 22.

  • Resistances: 35-41.4
  • Supports: 28.6 – 22

Weekly technical analysis of Uniswap prices

The Uniswap fell below $ 31.41 on Friday, but buyers did not allow it to fall further below the 20-day moving average at $ 28, which is a positive sign. The 20-day moving average has been slowly rising and can be considered as a sign of low buyers’ superiority in the market. However, the negative divergence of the relative strength index indicates a decrease in the upward acceleration of prices. Yesterday, we also saw the Dodge pattern on the chart, which indicates a lack of uncertainty among traders.

Uniswap price chart
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If the price falls below the 20-day moving average, the Uniswap is likely to fall to $ 25. Failure to break this level may lead to cross-fluctuations between $ 25 and $ 31.41 in the coming days.

On the other hand, if the price recovers from the current levels and reaches above $ 31.41, it is likely to continue the trend towards $ 37.52 and $ 42.25.

  • Resistances: 31.41 – 37.52 – 42.25
  • Supports: 28-25

Weekly Technical Analysis of Chainlink Price

Chinese Link traders tried to push the price below the jump point of $ 30 on Friday, but buyers prevented this from happening. Their massive buy on the floor pushed the Chinese price of the link above the $ 35.33 resistance.

China Price Chart Link
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If buyers are able to stabilize the price above $ 35.33, one can expect the rally and rally to continue at $ 36. $ 43.5 will be the next target in this process. Moving averages have a steep slope and the relative strength index is in the buy saturation range, which indicates that market control is in the hands of buyers.

On the other hand, the failure of traders to stabilize the price above $ 35.33 may lead to a decrease to $ 30. If you defend this area, you will have to wait for transverse fluctuations in the coming days. Fixing the price below the 20-day moving average at $ 28 will be a sign of weakening buyers’ power and losing control of the market.

  • Resistances: 35.33 – 36 – 43.5
  • Supports: 30-28

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