CoinFinex Daily Market Review for 01.10.2018

Bitcoin – BTC/UST

Bitcoin has been stabilized above the moving averages. Currently the price is 6,618$ per BTC and the only resistance above the cryptocurrency is at 6,800-6,900$ levels. Once this resistance is broken the bulls will start a new trend with a rally to 7500$. The support levels on the downside are at 6300$ and 6100$, however a strong push from the bears might cause a retest of 5900$ critical support line. The moving averages are moving flat and the price will be changing in short range, however the next major pullback for Bitcoin should be once the price stabilizes above 6,900$.

Ethereum – ETH/UST

Currently Ethereum is not doing that well like the Bitcoin. The traders succeed to keep the ETH/UST pair above the 200$ price point but it is still below the moving averages. The cryptocurrency still struggles to pass the 20 day EMA moving average. However, if the bulls succeed to break this levels and push the pair higher, it is very possible that they will initiate a rally to the next resistance levels at 330$. This will happen only If the price is stabilized above 250$ price levels. On the other side, the support levels are at 190$ and hard push from the bears might break this support and open the way to 160$ levels.

XRP/UST

Currently the XRP/UST pair is being traded for 0.58$. During the past few days it was traded in a big trading range from 0.45$ to 0.58$. The trading volume got bigger once the currency made a significant pullback last week, of course after such pullback a consolidation is expected. The EMA line is moving upwards which is a good sign for the bulls, however the first resistance for the cryptocurrency is at 0.42$ levels. A bounce back from this levels might push the cryptocurrency to 0.67$ but breaking bellow this support line opens the way for the bears to 0.35$.

 

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