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The Martkdaten were provided by HitBTC exchange market.
On 11. October, the total market capitalization of crypto currencies, fell for the first Time since the 20. September 175 billion Euro, as a global risk-Off Trading investors prompted, your stocks throw off. The encouraging sign is, however, that the sell-off was short-lived, and most of the currencies are trying to fight back.
The next week is crucial, since it will provide information on whether the currencies will rise your main supports to break through or over its Overhead resistance. A case to new lows is negative and could signal the extension of the ongoing bear market. On the other hand, if the bulls manage to scale the key Level, this will signal a probable ground and could attract buying.
we take a look at the Top 5 performers of the week and their medium-term prospects.
TRX/USD
Among the digital currencies with a market capitalization of more than EUR 850 million, TRON is the only one that has managed to stay in the past seven days, in the green area. Two messages to lure buyers in a range-bound / fall in the market.
The first messages, which have driven the prices up, was the Tweet of Justin Sun, the CEO of TRON on 08. October. He said that the latest Upgrade will make the digital currency “200x faster than Ethereum and 100x cheaper than EOS would be.”
The second message, which led to higher prices, was the Tweet from 12. October, the sign of a partnership with an industry giant.
So, can drive these fundamental news, prices, and investors should buy now? Let’s use the diagrams to study and find out.
The TRX/USD Pair traded in the 05. January 0,30283 Euro. At the current levels the price has risen 93% from the highs. Since the 14th century. August has ceased to fall and tried to form a Range. Such a consolidation does not show that the owners of the digital currency in a hurry to sell their stocks. In addition, investors buy on Dips, in the vicinity of 0,01583 Euro.
The Range has seen two taps above and two below. If the bulls break out and above the Range will remain, this will display the probable beginning of a new upward trend. The first pattern target is 0,03287 Euro. When the outbreak occurs, however, after a major consolidation, exceeds slightly the minimum pattern target. Therefore, investors can expect over the medium term, with a rate increase to 0,03589 Euro, followed by a rally on 0,04497 Euro.
If the bears cut prices under 0,01373 Euro, will continue the downward trend. Therefore, we recommend traders to wait for a confirmed outbreak, and to initiate a Long Position.
BTC/USD
The sell-off in global equity markets, has acquired Bitcoin. The warning from the International monetary Fund (IMF) that the “rapid growth” of the new asset class “could create new vulnerabilities in the international financial system”, has also not helped.
The global Economist Nouriel Roubini continued his Anti-crypto rhetoric. He called crypto-currencies “, the mother or the father of all the scams and bubbles” and the Blockchain technology “is nothing better than a glorified table or database”.
another study from Juniper Research has warned of an Implosion of the crypto markets. Nevertheless, the BTC / USD did a Couple of the second-best Performance among the digital Mega-Cap currencies. So, buy this Signal on the lows?
In a medium-term time frame, Bitcoin has formed a large descending triangle pattern. She has successively formed lower highs, but has held in the year 2018, the 5,100-Euro levels to a great extent. Each of the lower High indicates that the sellers are in a hurry to reduce their positions or to liquidate, and not on higher levels waiting. The cops have just bought on Dips in the vicinity of 5,100 Euro, which has led to the support.
If the bears the at € 5,096 brand to break through, it will attract probably more short selling and Long liquidations, brings what are the prices in the direction of 4.708 the Euro and the EUR 4,319 Euro. The first signs of a trend reversal is close to the downtrend line of the triangle.
investors should wait for a breakout above the recent Low of 5.902,12 Euro, in order to keep for about three days before they are bullish.
LTC/USD
The Winklevoss twins led a crypto-exchange, Gemini, has since 12. October the necessary regulatory approval to trade on the stock exchange Litecoin.
The LTC/USD Pair is in a steady downward trend. Previous Attempts to stabilize a new upward trend, and to begin with, have failed at higher levels. In the last two months has consolidated the digital currency in a narrow range near the lows. A breakdown of the bandwidth will continue the downward trend to continue.
If the bulls succeed, the bandwidth escape, is a rally to 81 euros. A new uptrend will be confirmed only when the virtual currency defended the outbreak of the area successfully, and a series of higher highs and lows is running. Until then, it is best not to interfere.
EOS/USD
The EOS Community is trying to bridge the gap between the West and the East. Language barriers, cultural differences and the use of various platforms for dialogue led to problems for the Chinese users. It is believed that the EOS Mandarin Arbitration Community (EMAC), which was created to assist the Mandarin-speaking users, is able to bring the two continents together.
In the medium-term time frame, the EOS/USD Pair is largely in the range of between 16,13 Euro 3,35 Euro. Both the upper and the lower end of the range were tested twice. Even though the cops broke out at the end of April from the Range, they could not hold the highs, and the price fell back in the Range.
On the downside, the bulls have defended the lower end of the Range, but it is not managed to recover. The digital currency has the last two months, close to the lower end of the range traded. A failure can trigger a new downward trend, which may lead to a sharp decline.
An outbreak of 5,90699 Euro will signal the beginning of a new upswing. The first goal 7,92811 Euro. When the cops reach the 8,64 Euro Level, is a rally 12.96 euros.
ADA/USD
Charles Hoskinson, founder of Input-Output Hong Kong (IOHK), and Ken Kodama, CEO of Emurgo, have demanded the resignation of Michael Parsons, Chairman of the Cardano Foundation. You have a lack of power and not referred to reactive attitude of the Council and of the Chairman as a “great Frustration”. The Foundation has yet to respond.
The possibility that Coinbase lists the Coin, makes the round. If it is true, it could increase the price of Cardano. Is it worth it to buy? Let’s find out.
The ADA/USD Pair was in a long-term downward trend. From the highs of 1,20760 Euro on 5. January have been achieved, he fell to 94 percent. Various Attempts to start a new upward trend have failed, since higher levels will attract selling.
Since a month, the digital currency is trying to form an area close to the ground. If the bears of 0,05198 Euro to collapse, they will continue on their downward trend.
On the top of the bull $ need to scale 0,08152 Euro and 0,09616 Euro to signal strength. A sequence of higher highs and higher lows will announce the beginning of a new upward trend. When the cops close in three days to break out, and UTC (time-frame) on 0,09673 Euro, is a movement to 0,17297 Euro to 0,19892 Euro probably. Medium term traders should wait for a new uptrend before opening Long positions.
The market data are taken from HitBTC exchange. The Charts for the analysis come from trading view.
