- Bitcoin price is close to the main support level of $ 100,000; The strong closure below will decrease the mark of $ 90,000.
- ETHEREUM price is approaching the moving average for 200 days at 3,136 dollars; The strong closure below would lead to correction.
- The Ripple price slides towards supporting the upper direction line; The closure below will decrease.
Bitcoin (BTC) and Ethereum (ETH) is close to decisive support levels on Monday; The strong closure below would lead to correction. The price of the Ripp (XRP) is followed by the price of the rolling, where it approaches the upper direction line; The closure below will decline forward.
Bitcoin bulls show signs of fatigue
Bitcoin price reached the highest new level ever at 109,588 dollars last week, but failed to keep his upward momentum. Bitcoin began to decrease slightly from Saturday and decreased by 2.22 % until Sunday. At the time of writing this report on Monday, its circulation continued to decline, approaching its main support level of about $ 100,000.
If BTC is closed below $ 100,000, the decrease will extend to its next main support test at $ 90,000.
The RSI is read on the daily graph 51, a little higher than its neutral level 50; However, it indicates the bottom, which indicates twice the bullish momentum. The rapprochement and divergence index also converged. If the Maccarization index turns into a declining intersection on a daily basis, it will give signals of sale and indicate a declining direction.
Daily graph for BTC/USDT
However, if the support level of $ 100,000 continues, this will extend the recovery to re -test ATH on Monday of $ 109,588.
ETHEREUM is preparing to decrease if closed below the moving average for 200 days
The speculators were re -tested on the rise of Ethereum, and support was found around the 200 -day SIA moving average (EMA) at $ 3,136 in the previous week. However, it decreased by 2.6% on Sunday. It is circulated low at the beginning of Monday this week, near the moving average for 200 days at 3136 dollars.
If ETH is closed under the moving average for 200 days at 3136 dollars, the decrease is expanded to test the level of its psychological importance of $ 3,000.
The Relative Power Index reads on the 42nd daily chart, its lowest neutral level 50, and indicates the bottom, indicating a declining momentum. The MACD index also shows a landmark on Sunday, indicating the declining direction.
ETH/USDT daily chart
However, if the EMA level is maintained at $ 3,136, the ETH can extend the recovery to test the daily resistance level at $ 3,730.
The Ripple price is preparing for the correction if closed below the upper direction line
The Ripple price faced resistance around the level of $ 3.40 last week. On Monday, it was traded with a slight decrease around $ 2.99, approaching the upscale trend line (by linking several low levels since early January).
If the Ripple currency penetrates and closed under $ 2.72, the decrease is expanded to test its next daily support at $ 1.96.
The relative strength index reads 57, above its neutral value of 50 and indicates the bottom after rejection of the level of purchasing saturation at 70 on January 18, indicating twice the bullish momentum. In addition, the Macc According turned a declining intersection on Sunday, which gave signal signals and indicates a declining direction.
Daily chart xrp/USDT
On the contrary, if XRP continues its bullish momentum, the height may extend for the resistance level test of $ 3.40.
Common questions about bitcoin, alternative currencies and stable currencies
Bitcoin is the largest encrypted currency in terms of market value, and it is a virtual currency designed to serve as money. No person, group or entity can control this payment method, which eliminates the need for third party to share during financial transactions.
Alternative currencies are any cryptocurrency except bitcoin, but some also consider Ethereum a non -alternative currency because one of these encoded currencies occurs. If this is true, Litecoin is the first alternative currency, branched from Bitcoin, and thus a “improved” version of it.
Stable currencies are encrypted currencies designed to have a fixed price, while supporting their value with the reserves of the assets they represent. To achieve this, the value of any stable currency is linked to a commodity or a financial tool, such as the US dollar (USD), while organizing its supply through an algorithm or request. The main goal of stable currencies is to provide the way to enter and go out to investors who want to trade and invest in encrypted currencies. The stable currencies also allow investors to store the value since the cryptocurrency in general is subject to fluctuations.
Bitcoin dominance is the percentage of the market value of bitcoin to the total market value of all cryptocurrencies combined. It provides a clear picture of the interest of investors in bitcoin. BTC’s high hegemony usually occurs before and during the rise, as investors resort to investing in a relatively stable and highly valuable currency such as Bitcoin. Usually, Bitcoin dominance means that investors transport their capital and/or their profits to alternative currencies in pursuit of higher returns, which usually leads to the explosion of alternative currency rises.
