Weekly review of 10 major cryptocurrencies 22.01.18 - 28.01.18
On the fourth week of 2018 the main cryptocurrencies demonstrated growth.
Bitcoin stayed above 10,000 and its share in total capitalization decreased slightly (to 33.3%)
The pressure of sellers in the beginning of the last week was replaced by the appearance of buyers and the growth of indicators.
The number of billionaire-coins decreased to 24, and their total number (according to coinmarketcap.com) has grown to 1495.
The total market capitalization of cryptocurrencies has grown slightly to $ 577 billion
Bitcoin grew by 3% for the week from $ 11,500 to $ 11,800, but also visited the $ 9900 zone.
On the weekly chart, the rate found support over the slow moving average of $ 9,500 and is consolidating between 10,000 and 12,000.
On the daily chart, we see a flat with a rising trend.
But the possible increase of the rate remains within the limits of a downward trend from $ 17000
Recommendation: stand aside, waiting for a clear movement in one direction or another. (overcoming of 12,000 up or 10,000 down)
Ethereum for the week increased by 19% from $ 1,050 to $ 1,250, after visiting the $ 900 zone
It looks like we are seeing the <B> wave of the 3-wave correcting formation <A-B-C> to a large wave of growth from $ 300 to $ 1,400.
On the daily chart, the rate has risen above the slow moving average and if Ethereum can keep above it for a couple of days, then there will be a buy signal from the Moving Average Intersection.
Within the framework of the Elliott Wave theory, this buy signal must be ignored and you should look for opportunities for opening shorts and playing back a bearish wave C
However, the stop on short positions should be done when the rate closes above $ 1400, since Ethereum looks very strong in comparison with other cryptocurrencies and looks forward to lead the charts, gradually approaching Bitcoin in terms of capitalization.
Ripple (XRPUSD) for the week remained unchanged at $ 1.35.
Consolidation between $ 0.9 and $ 1.5
Buy at about $ 1 and sell above $ 1.5
BCHUSD for the week remained unchanged at $ 1,770
Consolidation between $ 1200 and $ 2000
The rate for the week is more likely to rebound up to $ 2000
From there, opening of positions for sale look quite attractive
Litecoin for the week increased by 2% to $ 195, also reaching a minimum of $ 160
Consolidation between the fast moving average at $ 220 and the slow at $ 130. Further decline is more likely.
Support levels: $ 120, $ 80 and $ 60. Resistance at $ 200
Sell from $200 with a target under $100
DASH for the week remained unchanged at $ 815 while also visiting the $ 675 zone
Fracture of the growing trend.
Sell from over $ 800 with a target at $ 400
NEM for the week did not change remaining at $ 1
Suspension of the fall. Probably an attempt to bounce up, which is good for closing long positions
Support levels: $ 1, $ 0.5 and $ 0.3
Resistance at $ 1.3
Monero went -4% for the week, from $ 347 to $ 334 also visiting $ 283
Correction on an increasing trend.
Support at $ 320, $ 280 and $ 240
Monero looks more positive than the majority
However, purchase seems premature.
NEO grew by 15% from $ 128 to $ 147 finding support over $ 100
NEO’s picture returned to a the growing trend
Buy
IOTA declined by another 9% from $ 2.76 to $ 2.5 the minimum being at $ 2.12
Reversal of the growing trend towards a fall.
Support at $ 3 became resistance and a good place to open a short position with a target of $ 2, $ 1.5 and then $ 1.
We wish you profitable deals and follow our reviews!
Bitcoin stayed above 10,000 and its share in total capitalization decreased slightly (to 33.3%)
The pressure of sellers in the beginning of the last week was replaced by the appearance of buyers and the growth of indicators.
The number of billionaire-coins decreased to 24, and their total number (according to coinmarketcap.com) has grown to 1495.
The total market capitalization of cryptocurrencies has grown slightly to $ 577 billion
Bitcoin grew by 3% for the week from $ 11,500 to $ 11,800, but also visited the $ 9900 zone.
On the weekly chart, the rate found support over the slow moving average of $ 9,500 and is consolidating between 10,000 and 12,000.
On the daily chart, we see a flat with a rising trend.
But the possible increase of the rate remains within the limits of a downward trend from $ 17000
Recommendation: stand aside, waiting for a clear movement in one direction or another. (overcoming of 12,000 up or 10,000 down)
Ethereum for the week increased by 19% from $ 1,050 to $ 1,250, after visiting the $ 900 zone
It looks like we are seeing the <B> wave of the 3-wave correcting formation <A-B-C> to a large wave of growth from $ 300 to $ 1,400.
On the daily chart, the rate has risen above the slow moving average and if Ethereum can keep above it for a couple of days, then there will be a buy signal from the Moving Average Intersection.
Within the framework of the Elliott Wave theory, this buy signal must be ignored and you should look for opportunities for opening shorts and playing back a bearish wave C
However, the stop on short positions should be done when the rate closes above $ 1400, since Ethereum looks very strong in comparison with other cryptocurrencies and looks forward to lead the charts, gradually approaching Bitcoin in terms of capitalization.
Ripple (XRPUSD) for the week remained unchanged at $ 1.35.
Consolidation between $ 0.9 and $ 1.5
Buy at about $ 1 and sell above $ 1.5
BCHUSD for the week remained unchanged at $ 1,770
Consolidation between $ 1200 and $ 2000
The rate for the week is more likely to rebound up to $ 2000
From there, opening of positions for sale look quite attractive
Litecoin for the week increased by 2% to $ 195, also reaching a minimum of $ 160
Consolidation between the fast moving average at $ 220 and the slow at $ 130. Further decline is more likely.
Support levels: $ 120, $ 80 and $ 60. Resistance at $ 200
Sell from $200 with a target under $100
DASH for the week remained unchanged at $ 815 while also visiting the $ 675 zone
Fracture of the growing trend.
Sell from over $ 800 with a target at $ 400
NEM for the week did not change remaining at $ 1
Suspension of the fall. Probably an attempt to bounce up, which is good for closing long positions
Support levels: $ 1, $ 0.5 and $ 0.3
Resistance at $ 1.3
Monero went -4% for the week, from $ 347 to $ 334 also visiting $ 283
Correction on an increasing trend.
Support at $ 320, $ 280 and $ 240
Monero looks more positive than the majority
However, purchase seems premature.
NEO grew by 15% from $ 128 to $ 147 finding support over $ 100
NEO’s picture returned to a the growing trend
Buy
IOTA declined by another 9% from $ 2.76 to $ 2.5 the minimum being at $ 2.12
Reversal of the growing trend towards a fall.
Support at $ 3 became resistance and a good place to open a short position with a target of $ 2, $ 1.5 and then $ 1.
We wish you profitable deals and follow our reviews!
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