Cryptocurrency Weekly Analysis

Weekly technical analysis of digital currency prices; The upward path of bitcoins and the calm of the coin market


Read the weekly technical analysis of Bitcoin, Ethereum, Binance Coin, Cardano, Ripple, Solana, Dodge Coin, Polkadot, Luna and Uniswap prices.

Analysts believe that bitcoin has started to move towards the historical price ceiling, and the cross fluctuations of coin tools also indicate that traders are transferring their capital to bitcoin. The strong and bullish rally of Bitcoin in the last few days has strengthened the market sentiment of this digital currency and analysts have returned to the price with their six-digit forecasts. Can Bitcoin withstand strong resistance along its path, including the highest level in history, and accompany the Altcoins on its ascent? Has the “Bitcoin Season” begun? We will look for the answers to these questions by reviewing the top 10 currencies this week.

Weekly technical analysis of bitcoin prices

On Wednesday, the Bitcoin price chart shows that traders traded their currencies at higher levels, but failed to bring Bitcoin to $ 52,920. This is the level at which the recent leap began. Their failure to lower the price of bitcoin seems to have boosted buyers in the market.

Bitcoin price chart
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Yesterday’s aggressive purchases pushed the price to the top on Sunday at $ 56,561.31. Reaching this range opened the way for the rally to $ 60,000. The 20-day moving average (EMA20) is bullish at $ 50,196 and the Relative Strength Index (RSI) is in the buy saturation range, indicating that buyers have more control over the market.

If buyers can push the price above $ 60,000, it is likely to reach a historic high of $ 64,854. Even if buyers can cross this range, one can expect an upward acceleration.

A close below $ 52,920 will be the first sign of a weakening uptrend; This indicates that traders at higher levels are taking their profits out of the market. In this case, sellers will have the opportunity to lower Bitcoin to the simple 50-day moving average (SMA50) at $ 47,727.

  • Resistances: 60,000 – 64,854
  • Supports: 52,920 – 47,727

Weekly technical analysis of Ethereum prices

Ethereum prices fell sharply on Sunday, but buyers traded higher yesterday, hitting a 20-day moving average at $ 3,369. This is a positive sign; Because it expresses the positive emotions of the market and shopping on the floor.

Ethereum Price Chart
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If buyers can stabilize the price above the neck and shoulder pattern inverted above, this pattern will be completed. The target of this pattern is to reach $ 4,657, but most likely we will see the resistance of sellers at the levels of $ 4,027.88 and the historical peak at $ 4,372.72.

If the price falls below the resistance and falls below the simple 50-day moving average at $ 3,351, this bearish view will lose its validity. In that case, we may see a drop to $ 3,000 in psychological support.

  • Resistances: 4,027.88 – 4,372.72 – 4,657
  • Supports: 3,351 – 3,000

Weekly Technical Analysis of Binance coin Price

On Friday, the price of Binance coin fell below the simple 50-day moving average at $ 425. Buyers tried to push Binance coin back above the simple 50-day moving average, but failed. This caused short-term traders to increase the downward pressure of the market by selling their currencies.

Bainance Quinn price chart
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Binance coin fell below the 20-day moving average on $ 409 on Sunday, but sellers were unable to take advantage of the opportunity. The high volume of purchases at lower levels caused the price of Binance Coin to reach above the 20-day moving average yesterday.

If buyers are able to push Binance coin above the simple 50-day moving average, there is a possibility of a jump to the neck of the current pattern. Closing the price above this level will complete the head and shoulders pattern. In this case, you can expect a rally up to $ 518.9, and if this level is broken, there is a possibility of jumping to the target of the pattern at $ 554.

On the other hand, if the price falls below the 50-day moving average or the standard neck and falls below the 100-day simple moving average (SMA100) at $ 383.4, the next possible destination will be $ 320.

  • Resistances: 425 – 518.9 – 554
  • Supports: 383.4 – 320

Weekly Technical Analysis of Cardano Price

Cardano’s price is currently fluctuating within the symmetrical triangle pattern, which is generally a pattern of continuity. If sellers can stabilize the price below the triangle support line, there is a possibility that the correction trend will continue.

Cardano price chart
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The 20-day moving average is flat at $ 2.24 and the relative strength index is in the middle range; Based on these conditions, it is not possible to get a true picture of the market equilibrium. Buyers will now try to prevent the price from falling to $ 1.94, but their failure may increase sales pressure in the market, which could lead to a drop in price to $ 1.6.

In addition, if the price recovers from the triangle support line and reaches above the 20-day moving average, buyers will try to push Cardano to the top of the triangle resistance line. If they succeed, they can expect to reach $ 2.47. The next target in this case will be $ 2.8.

  • Resistances: 2.24 – 2.47 – 2.8
  • Supports: 1.94 – 1.6

Ripple Price Weekly Technical Analysis

The range of the limited fluctuations of the Ripple price broke on Saturday by crossing the simple 50-day moving average at $ 1.08. However, Kendall’s high joy on Sunday shows that sellers are defending the small resistance of $ 1.24.

Ripple price chart
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If buyers do not give up at current levels, the probability of a jump to above $ 1.24 will increase. The 20-day moving average averaged $ 1.06 and the relative strength index is above 60, indicating that buyers are slightly superior to sellers.

Closing above $ 1.24 could push Ripple to $ 1.41. Historically, this level has been a strong barrier to price increases, but if buyers can cross it, the next target is $ 1.66. This uptrend will be invalidated if the price falls below the 20-day moving average. This can lead to a price drop of up to $ 1. The next possible destination in this case would be a simple 100-day moving average at $ 0.93.

  • Resistances: 1.24 – 1.41 – 1.66
  • Supports: 1.06 – 0.93

Weekly technical analysis of Solana price

Solana’s slight jump from the 20-day moving average to $ 151 on Friday and Saturday indicates that buyers are not very strong in the market. On Sunday, we saw supply outpacing demand, which pushed prices down to a 20-day moving average.

Solana price chart
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Buyers are currently trying to defend a simple 50-day moving average at $ 141. They are required to raise prices above the downtrend line. In this case, it can be said that the sales pressure has been reduced to some extent. If the price closes above 61.8% Fibonacci, the uptrend will be even higher. The Fibonacci level is at $ 177.8 a day.

On the other hand, if it falls below the simple 50-day moving average, it is likely that we will see a drop in the price of strong support at $ 116. This is an expensive level, and breaking it opens the door to a simple 100-day moving average of $ 90.

  • Resistance: 177.8
  • Supports: 141-116-90

Dogecoin Weekly Technical Analysis

Despite buyers defending the simple 100-day moving average at $ 0.24 on Friday and Saturday, they failed to push the digital currency above this moving average; It can be said that due to the conditions, the demand at higher levels is accompanied by a significant decrease. Taking advantage of these conditions, sellers pushed Dogecoin below moving averages on Sunday.

Dogecoin price chart
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If buyers fail to quickly push Dogecoin back above moving averages, prices are likely to fall to the $ 0.21 to $ 0.19 support area. Vendors also need to break these protections in order to maintain their market dominance.

On the other hand, if the price starts to rise and reaches above the moving averages, buyers will once again try to cross the downtrend line. If they do, the uptrend will start at $ 0.32 and then at $ 0.35.

  • Resistances: 0.32 – 0.35
  • Supports: 0.21 – 0.19

Weekly technical analysis of Polkadot prices

Polkadot has fluctuated between $ 25.5 and $ 38.77 in recent days and weeks. The price of Polkadot fell below $ 37.45 on Sunday, indicating that sellers are defending resistance to the digital currency.

Polkadot price chart
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Moving averages are steadily rising and the relative strength index is in the positive range, indicating that buyers are somewhat superior to sellers. A close above $ 38.77 will be the first sign of a resumption of the uptrend.

The target for the pattern created after the rectangular pattern is broken is at $ 52.04. In addition, if sellers are able to bring prices below the moving averages, it is likely that we will see crossover fluctuations in the next few days.

  • Resistances: 38.77 – 52.04
  • Supports: 25.5

Luna Price Weekly Technical Analysis

The price of Luna, the Terra Protocol digital currency, fell to $ 48.56 on Friday, indicating that sellers are strongly defending the $ 50 resistance. The failure to overcome this resistance has made short-term traders think of making a profit.

Luna Price Chart
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Luna closed below the 20-day moving average at $ 39.64 on Sunday. Yesterday’s attempt by buyers to reclaim this level was accompanied by widespread sales pressure from sellers; This means that the sentiment in the market has become negative and traders in small rallies are closing their positions.

A simple 50-day moving average at $ 35.58 is the next support, and if this level is broken, it is likely to fall to $ 32.5. On the other hand, if the price jumps from the current level and reaches above the 20-day moving average, buyers can be expected to try to break the resistance once again.

  • Resistances: 38.77 – 52.04
  • Supports: 25.5

Weekly technical analysis of Uniswap prices

The Uniswap price closed below the 20-day moving average on Sunday, but buyers did not give up trying to keep the 100-day moving average at $ 23.76. Now they will try to push the price back above the simple 50-day moving average at $ 25.05.

Uniswap price chart
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If they succeed, there is a possibility of an ion-swap jump up to the top of the neck of the reverse head and shoulder pattern. If buyers stabilize the price above this resistance, we may see an increase in the upward acceleration of the price. This could lead to a rally to the model target of $ 36.98.

On the other hand, if sellers push the price below the simple 100-day moving average, it is likely to fall to $ 22. This level is of particular importance, and if sellers can break it, we will see an increase in sales and a possible fall to $ 18.

  • Resistances: 25.05 – 36.98
  • Supports: 23.76 – 22 – 18

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