Weekly review of 10 major cryptocurrencies 02.07.18 - 08.07.18
Last week major cryptocurrencies went up a bit from local minimums reached earlier. Bitcoin managed to spend all the week above key level of $ 6’000. Its share in total capitalization increased to 42,8%.
The number of billionaire-coins grew to 19 and their total number (according to coinmarketcap.com) increased to 1’619.
Total capitalization of cryptocurrencies increased to $ 272 billion.
Bitcoin rose by 5,5% last week from $ 6’350 to $ 6’700, the maximum was $ 6’840.
The market is slowly going up from the key level of $ 6’000 with decreasing volumes. This is a correction to the previous decrease from $ 9’990. And it almost reached the resistance on fast-moving average. Stronger resistance and slow-moving average is near $ 8’000.
Until $ 9’000 is overcome, long-term technical picture remains bearish.
Ethereum grew by 7,5% from $ 452 to $ 486 with the maximum of $ 496.
Ethereum went up a bit from the minimum that was reached earlier. However, medium-term trend is still downward. The zone of long-term support is from $ 360 and lower. The resistance is $ 535 and $ 600. The rise above $ 800 will be a signal of growth resumption.
Ripple (XRPUSD) grew by 4% from $ 0,46 to $ 0,48, the maximum was $ 0,52.
Ripple increased a bit from the minimum that was reached earlier. However, medium-term trend is still downward. There is a correction-consolidation from April minimum near $ 0,45. Its break will open the way to $ 0,2 - $ 0,25. The further decline is more likely.
BCHUSD grew by 1,5% from $ 738 to $ 749 with the maximum of $ 831.
The rate has been trying to rebound from the minimum reached earlier. However, there are no signs of turnaround upwards. The support is on $ 600 and $ 300. The resistance is $ 1’100 and $ 1’800. The further decline is more likely.
Litecoin increased by 2,5% from $ 80 to $ 82 during the week, the maximum was $ 90.
The key support near $ 100 was broken. There are now no technical obstacles for decrease to $ 55. After correction started the resumption of decrease is more likely.
IOTA grew by 1% from $ 1,07 to $ 1,08, the maximum was $ 1,26.
IOTA did not manage to overcome the first reached target of decrease near $ 1. There was a rebound within very small correction which ,moreover, had been regained to the starting point by the end of the week. The further gradual decline to $ 0,33 is more likely.
NEO increased by 25% from $ 31 to $ 39, the maximum was $ 44.
The support near $ 45 was broken. And there was a come back to that from below. Now it is technically an ideal moment to open short position.
Monero grew by 6% from $ 130 to $ 138 with the maximum of $ 146.
The support above $ 150 was broken. And there was a return to that below. Now it is technically and ideal moment to open short position.
DASH rose by 3% from $ 236 to $ 243, the maximum was $ 262.
The decrease reached the support near $ 220. And it still keeps the market from further decline. The further decrease is more likely.
NEM increased by further 11% from $ 0,166 to $ 0,185, the maximum was $ 0,21.
The important support on $ 0,20 was broken. There are no more technical obstacles for decline to $ 0,1 (after started correction-consolidation). The further decline is more likely.
Wish you profitable deals and follow our reviews!
The number of billionaire-coins grew to 19 and their total number (according to coinmarketcap.com) increased to 1’619.
Total capitalization of cryptocurrencies increased to $ 272 billion.
Bitcoin rose by 5,5% last week from $ 6’350 to $ 6’700, the maximum was $ 6’840.
The market is slowly going up from the key level of $ 6’000 with decreasing volumes. This is a correction to the previous decrease from $ 9’990. And it almost reached the resistance on fast-moving average. Stronger resistance and slow-moving average is near $ 8’000.
Until $ 9’000 is overcome, long-term technical picture remains bearish.
Ethereum grew by 7,5% from $ 452 to $ 486 with the maximum of $ 496.
Ethereum went up a bit from the minimum that was reached earlier. However, medium-term trend is still downward. The zone of long-term support is from $ 360 and lower. The resistance is $ 535 and $ 600. The rise above $ 800 will be a signal of growth resumption.
Ripple (XRPUSD) grew by 4% from $ 0,46 to $ 0,48, the maximum was $ 0,52.
Ripple increased a bit from the minimum that was reached earlier. However, medium-term trend is still downward. There is a correction-consolidation from April minimum near $ 0,45. Its break will open the way to $ 0,2 - $ 0,25. The further decline is more likely.
BCHUSD grew by 1,5% from $ 738 to $ 749 with the maximum of $ 831.
The rate has been trying to rebound from the minimum reached earlier. However, there are no signs of turnaround upwards. The support is on $ 600 and $ 300. The resistance is $ 1’100 and $ 1’800. The further decline is more likely.
Litecoin increased by 2,5% from $ 80 to $ 82 during the week, the maximum was $ 90.
The key support near $ 100 was broken. There are now no technical obstacles for decrease to $ 55. After correction started the resumption of decrease is more likely.
IOTA grew by 1% from $ 1,07 to $ 1,08, the maximum was $ 1,26.
IOTA did not manage to overcome the first reached target of decrease near $ 1. There was a rebound within very small correction which ,moreover, had been regained to the starting point by the end of the week. The further gradual decline to $ 0,33 is more likely.
NEO increased by 25% from $ 31 to $ 39, the maximum was $ 44.
The support near $ 45 was broken. And there was a come back to that from below. Now it is technically an ideal moment to open short position.
Monero grew by 6% from $ 130 to $ 138 with the maximum of $ 146.
The support above $ 150 was broken. And there was a return to that below. Now it is technically and ideal moment to open short position.
DASH rose by 3% from $ 236 to $ 243, the maximum was $ 262.
The decrease reached the support near $ 220. And it still keeps the market from further decline. The further decrease is more likely.
NEM increased by further 11% from $ 0,166 to $ 0,185, the maximum was $ 0,21.
The important support on $ 0,20 was broken. There are no more technical obstacles for decline to $ 0,1 (after started correction-consolidation). The further decline is more likely.
Wish you profitable deals and follow our reviews!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.