to our daily brokerage currency review, our team of analysts will provide
real-time encryption market updates at the start of the New York market (9:30
am EST), we encourage readers to provide feedback and try out our encrypted
trading platform ICO168.io, you can trade BTC, ETH, LTC, XRP, and more on the
ICO168.io platform coming soon.
currently trading at $6501. It appears that a bear flag formation is happening.
Bitcoin is facing some resistance where the 20-day EMA is. The trend is still
bullish as the local trend line shows an upward trend. RSI is almost above 50
at 47 RSI which means that it’s still a little bearish but volume has been
picking up. Short-term resistance is $6830, mid-term resistance is $7400,
long-term resistance is $8500. Short-term support is $6300, mid-term support is
$6000, long-term support is $5750.
Ethereum is forming an inverted cup
and handle formation. The price is testing its 38.2% Fibonacci level and has
not closed above it yet at $221. There is significant resistance here. After
breaking out of the bearish pennant, Ethereum has tried to test the next level
of resistance but has pulled back a little and is now currently trading at
$218. The current candle is well below the 8-day EMA and because the 8-day and
20-day EMA have not crossed upwards in about 2 months the bearish trend
continues. Short-term resistance is $221, mid-term resistance is $255,
long-term resistance is $303. Short-term support is $200, mid-term support is
$185, long-term support is $166.97.
Litecoin is currently trading at
$58.41. The upward channel that it’s trading at indicates a move upwards with a
likely pullback coming at $70. With 3 established higher low’s we are getting a
better idea of an upward momentum. The daily MACD’s histogram does show a
decrease in value indicating that the short-term movement could actually be
bearish even though the trend is moving upwards. Short-term resistance is
$61.03, mid-term resistance is $64.64, long-term resistance is $70. Short-term
support is $55.75, mid-term support is $52.49, long-term support is $47.21.
After rising 190% last week, XRP
has definitely cooled off. Currently it’s trading at $0.51. It has testing a
support level where the 8-day EMA was at $0.48 after hitting a low on the same
daily candle at $0.43. Today, it hit a high of $0.57. MACD is showing a bearish
trend however with a decreasing value in the histogram which appears to be
trying to go back into negative values within the next few days. A possible
double top formation is also trying to form on the daily charts. Short-term
resistance is $0.52, mid-term resistance is $0.58, long-term resistance is
$0.80. Short-term support is $0.48, mid-term support is $0.42, long-term
support is $0.37.
news since last week was the delay of the CBOE Bitcoin ETF and XRP’s meteoric
rise of almost 200%. Since then, other news has come out like Coinbase’s new
policy on trying to list more digital assets on their platform as well as
Bitmain announcing their IPO filing in Hong Kong. This has all had a positive
effect on the market as total trading volume has been up and the sentiment has
generally been positive over the last week. Many are unsure whether or not XRP’s
rise can be sustainable as it even surpassed Ethereum as the #2 coin on
coinmarketcap.com by market cap. Since the delay of the CBOE Bitcoin ETF won’t
be until December 29th, this has given investors a sigh of relief
and the market has been a reflection of this.