In our current analysis we’ll be covering Chart on the Daily Time Frame, we will also be reviewing the Total Crypto Market Capitalization Chart, as well as and Ripples . Ending with the Daily Transactions Confirmed and the LONGS and SHORTS Chart.
As of writing this, has now formed this and we’re starting to see some very cool things here with as it went past the 4000 level. We are now above the (the green line) which is a very sign of momentum indicating price action is now on the upside. Our current target is the 4478 level as this has acted as strong resistance and strong support in the past. Once we can break past this first target is really where things are going to start ramping up.
If we break to the down side, we’ve got this 50 and 100 MA moving average , which has acted as very strong support. We’ve also got this known right around that 3700 USD Mark anything below that would be really bad for . With all the fundamental, news and the increase in daily transaction . My opinion is we are going to start to trend up and I do believe we saw the bottom right around that 3200 level.
There has been an overall rise in in the charts for the Total Cryptocurrency Market CAP. You can see we’ve got these risen levels and we’ve broken on the . 60 has acted as a resistance and 60 is that level of resistance in which once we pass, we now enter into this zone from 60 to 70 and anything above 70 would be considered overbought. We could most likely find some support at 60 and trend up continuing to see higher price action in the overall cryptocurrency market including Altcoins.
Alongside with the moving averages looking at . We’re seeing something very similar to what we saw in the total cryptocurrency market capitalization chart. We’re starting to find some support right at that 60 level. We’ve already broken with the and BTC’s right now is 50% filled which we are expecting to break out sometime in the next few days. There is a lot of Buy pressure and very weak seller pressure meaning there has been an influx of buyers in the market. This is a very reasonable level to find a bottom and start to find some sort of consolidation for us to start trending upwards definitely expecting that over the next few months and I’m expecting a very positive ladder part 2019.
Looking at some of these altcoins XRP and ETH are looking a little different. If we look at the XRP chart we are pretty much at the end of this . It is also a structure with an ascending with an descending and what’s typical about these structures is we will typically fill up 75% of the structure before seeing a breakout to the upside or downside. We are close to this Apex breakout as you can see we are squeezing in this with a trending up , which is a very sign for Ripple. We also got these moving averages and the converging all together which shows us that these are very reasonable price levels here for Rpple.
If we look at what happened in 2017 with Ripple and its rise, we are now back down to the levels that we were at right before we saw the exuberance in price. In my opinion it’s very positive for us to assume that were most likely going to see some sort of a breakout to the upside as we approach the end of this pendant to start seeing the trend go back up for the XRP USD chart.
XRP chart is looking a little bit different. We have very strong support at around the 7500 Satoshi mark and we’re currently at right around that 7800 Satoshi Mark and I’m expecting us to see little bit more down momentum here on XRP to the Satoshi chart due to the moving averages trending down. Looking at its , we just started to break down below 40. Once again the same way we determine price momentum above 60 anything below 40 is a sign. You can see we broke down below 40 and found a little bit of some support but eventually broke down leading me to believe that we are going to see some downside here for the Ripple to Satoshi chart.
Taking a look at the ETH USD Chart we got two targets set up due to the fact that we’ve got more of a solid structure with this and very strong resistance and target at around 170 USD , we are currently at around 140 USD it is showing similarities to as the and is picking up and we do have a second target here right around that 210 USD mark being the fact that I am expecting us if we do hit these resistance targets for and we will eventually break above that and find some support where we previously found resistance and then start trending to the second target. The fact that we’ve got these moving averages acting as a strong support it would be a good time to start putting more liquid Capital into the market because you know that in fact we are at reasonable price levels.
So looking at at the Satoshi chart for . We’ve got this trending going up, this with very clear resistance and targets. Our next Target in terms of Satoshi values for is right around that 4 million Satoshi Mark. We’re currently around 3.4 million. The coins that will have the most potential for upside in the next coming weeks would be and ETH based on their . Ripple is not looking good in the Satoshi Chart, the reason being is when went into a down turn the majority of Altcoins went down as well. Ripple actually had an inverse reaction to that and went up in price, it makes sense that as all other coins go up Ripple will struggle to recover.
Looking at the confirmed transactions per day we found this , this is a healthy correction in comparison to the huge spike we had when went on its massive bull run to 20k. What’s interesting is we are right back at those exact levels when we spiked down we went right back up and are starting to maintain that 300 transactions per day mark which is a very sign for this Market.
As we look at the LONGS and SHORTS we can see that Longs are showing very little incoming price action, as less people are betting on an upswing.
In regards to Shorts there is a more momentum meaning there are more people betting on the downside.
Despite the Longs and Shorts, with all the and all the positive news including all the adoption, the increase in , it would only makes sense that we have bottomed and will now be seeing an upswing in the next few weeks for and ETH. This wraps up today’s stay tuned for the next one!
Published at Mon, 01 Apr 2019 21:17:53 +0000
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