CoinFinex Daily Market Review for 10.10.2018

Ripple – XRP/UST

The Ripple holders are closing their profits since the increasement in the previous weeks , the cryptocurrency did not resumed it’s uptrend after the correction. Currently the price of the XRP/UST pair is 0.46$. The moving averages are flat and there is lack of trading right now since the pair is moving in tight trading range. The bears have to push the cryptocurrency back up but they will meet first resistance at 0,55$. Once that resistance is broken it’s opening the way for XRP to move up to 0,82$. On the other hand, a breakdown might drag the cryptocurrency to 0,42$ and breaking this support will cause a drop to 0,27$.

Bitcoin Cash – BCH/UST

Bitcoin cash is being traded in a short trading range since the end of September. The price is currently held above the moving averages and is trying to bounce. The price of the BCH/UST pair is 511$, the first resistance that the bulls will face is at 600$. The break of this resistance will open the way for the cryptocurrency to 820$ -880$ levels. At the same time a breakdown of this levels will open the way for the bears to drag down the cryptocurrency to 400$.

EOS/UST

EOS is being traded above the moving averages but the cyrptocurrency just can’t go above the limit of the triangle it formed. A potential breakout will start a new trend. The current price of the EOS/UST pair is 5,84$.  The resistance for the currency is at 6.00$ and once it’s broken the next stop for the bulls will be at 8,20$. On the other side the bears might try to drag the currency down to 4.49$ levels but before that they will have to break the 5.00$ support line. The symmetrical triangle will be invalidated if the currency continue to be traded in tight trading range and didn’t make a breakthrough.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *