CoinFinex Daily Market Review for 20.09.2018

Ripple – XRP/UST

Ripple has made a sharp bounce after touching the 0,27$ price levels at Monday. For one day the cryptocurrency made growth of 20% and the current price of the Ripple is 0.32$ which is a resistance level but the bulls are keeping it up and the cryptocurrency didn’t made a correction. However they need to break this resistance in order to initiate a rally to 0,37$ which is the downtrend line resistance.
Once the XRP/UST pair is above the resistance line and stabilized we can think about a good BUY setup and changing of the trend. On the other side the bears might try again to retest the critical support line at 0.27$.


EOS is successfully holding above 4.50$, if the bears push hard enough they might drag the cryptocurrency down to next support line which is located at 3,80$. On the other side the bulls are facing strong resistance at 5.60$ which is the 20 day EMA. The pair will be stronger if the bulls succeed to push it above this line, if this happens the bearish trend will change into bullish. For now the pair stays in a bearish channel.

Monero – XMR/UST

Currently the price of Monero is 111$, the first resistance that bulls are facing is at 120$ price levels. And the bulls are making many attempts to break it, since the last few days the cryptocurrency became more volatile and is traded in wider range. The moving averages and the RSI lines are neutral and are moving flat on the chart which is considered as a good sign since for the past weeks Monero was in stron bearish trend. Breaking the support line at 100$ might cause a fall to 81$ price level, however it will be hard for the bears to do that since for the last week XMR finds a strong support from the traders on these same levels. The resistance on the upside is located at 122$ levels and breaking of this resistance will cause a new bullish trend for the cryptocurrency.

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