Ripple, Bitcoin Cash, Ethereum, Bitcoin .Technical analysis price Friday, March 23, 2018

It is Friday weekend and the value of the Ripple reports a retreat of 5.51% bringing the price of the XRP below $ 0.63.

 Highlights
  • The price of the Ripple did not increase further and a downward movement began from the maximum of $ 0.7246 against the US dollar.
  • There is an important downtrend line that is formed with a resistance close to $ 0.6850 on the hourly chart of the XRP / USD pair.
  • The pair is trading just above the support of $ 0.600 and remains a risk of further losses.

The price of the XRP is under short-term pressure against the US dollar and Bitcoin. XRP / USD should stay above the support of $ 0.600 to avoid further declines in the short term.

Decrease in the price of the Ripple

After trading above the $ 0.7000 level, the price of the XRP could not maintain the gains against the US dollar. The price started a downward move and was traded below the level of $ 0.7000 and the simple moving average of 100 hours. It also broke the Fibonacci retracement level of 23.6% of the last rising wave, from the low of $ 0.5324 to the high of $ 0.7246. More importantly, there was a break below $ 0.6500, which has opened the door for further declines.

The downward movement was such that the price even broke the support of $ 0.6400. More importantly, there was a break below the 50% retracement level of the last rising wave, from the low of $ 0.5324 to the high of $ 0.7246. At the moment, the price is testing an important support at $ 0.6100. You must maintain the established support of $ 0.6100, otherwise there is a risk of further decreases in the short term. On the positive side, the broken support of $ 0.6400 can act as a resistance.

Above $ 0.6400, the next hurdle is $ 0.6500, followed by an important downtrend line that is formed with a resistance close to $ 0.6850 on the XRP / USD pair time chart. In addition, the 100-hour SMA is at $ 0.6700 to act as a resistance to a bullish move.

Technical indicators

  • MACD per hour: MACD for XRP / USD moves slowly in the bearish zone.
  • Hourly RSI (relative strength index): the RSI for XRP / USD is currently well below level 50.
  • Main support level – $ 0.6100
  • Highest resistance level – $ 0.6500

Technical analysis of Bitcoin Cash price

The price of Bitcoin Cash reports a decline of -4.03% in the last hours, dragging the value below $ 1000.

Highlights in the analysis

  • The price of Bitcoin Cash did not move above the $ 1,080 level and decreased against the US dollar.
  • There was a break below a bullish connection line with support at $ 1,040 on the hourly chart of the BCH / USD pair.
  • The pair is currently below the support of $ 1,000 and the simple moving average of 100 hours, which is a bearish sign.

The price of Bitcoin Cash has started a downward correction from $ 1,080 against the US dollar. BCH / USD is now well below $ 1,000 and is considering further declines.

Decrease in the price of Bitcoin Cash

After a decent bullish move, the price of the BCH struggled to move above the $ 1,080 level against the US dollar. The price started a move lower and was traded below the support of $ 1,050. The decrease was substantial as there was a push below the Fibonacci retracement level of 23.6% of the last wave, from the minimum of $ 840 to the maximum of $ 1,083. It has opened the doors for more losses below $ 1,000.

During the decline, there was a break below an uptrend line of support connection at $ 1,040 on the hourly chart of the BCH / USD pair. The pair was set below the support of $ 1,000 and the simple moving average of 100 hours. The next support is around the $ 950 level. The indicated level of $ 950 is close to the 50% retracement level of the last wave, from the low of $ 840 to the maximum of $ 1,083. The pair is under a bearish pressure and it seems that it could even break the $ 950 support.

Below $ 950, the next crucial support is around the $ 900 level. On the positive side, broken support close to $ 1,000 and the SMA of 100 per hour are likely to act as obstacles for buyers.

Technical indicators

  • MACD per hour: the MACD for BCH / USD is now back in the bearish zone.
  • Hourly RSI (relative strength index): the RSI for BCH / USD is now well below level 50.
  • Main support level: $ 950
  • Highest resistance level – $ 1,040

Technical analysis of Ethereum

The Ethereum price reports a 5.13% retracement trading the Ether value below $ 525.

 Highlights
  • The price of ETH is under pressure, as it moved below the support level of $ 560 against the US dollar.
  • There was a break below a main bull trend line with support at $ 560 on the ETH / USD time chart.
  • The pair may continue to decline and could even attempt a break below the $ 500 level in the short term.

The price of Ethereum is slowly declining once again against the US dollar and Bitcoin. ETH / USD remains at risk of further declines below the $ 500 level.

Ethereum price resistance

There were no additional gains above the $ 585-590 levels in the ETH price against the US dollar. The price started a downward move and was traded below support levels of $ 575 and $ 560. There was also a break below the 23.6% retracement level of the last wave, from the $ 455 minimum to $ 589 high During the decline, the price also broke the $ 540 level and is currently well below the 100-hour simple moving average.

More importantly, there was a break below an important bull trend line with a support of $ 560 on the ETH / USD time chart. For the moment, the pair is trading a few points below the Fibonacci retracement level of 50% of the last wave, from the minimum of $ 455 to the maximum of $ 589. It may continue to decline in the short term and there is a risk of a break below the support of $ 500. Below $ 500, the price may be negotiated lower towards the recoil level of 76.4% of the last wave from the low of $ 455 to $ 589 high to $ 487.

On the positive side, there is a bearish trend line that connects to the current resistance at $ 554.00. In addition, the 100-hour SMA is positioned at $ 552 to act as a major obstacle for buyers.

Technical indicators

  • MACD per hour: the MACD is now in the bearish zone.
  • RSI per hour: the RSI is currently well below level 60.
  • Main support level: $ 500
  • Highest resistance level – $ 550

Technical analysis of Bitcoin

The price of Bitcoin reports a decline of -3.74% which makes the price position below the $ 8600. This weekend we may see an upward trend, however we must bear in mind that the volumes go down .

Highlights

  • The price of Bitcoin did not exceed the $ 9,000 level after the news broke of a possible closure of Binance in Japan .
  • However, the price of Bitcoin could still form a reverse head and shoulders pattern, which is a powerful investment signal.
  • Technical indicators show that the bullish momentum could remain in play.

Bitcoin’s price was recently sold, but it could form a short-term reversal pattern within its 1-hour timeframe and attract more buyers again.

Technical indicators

The 100 SMA has just crossed over the 200 SMA in the longer term to indicate that buyers are gaining ground. The SMA 200 also remains dynamic support at this time, but a minor break could lead to another recovery in sales pressure.

The stochastic is pointing down to show that bears have the advantage while the RSI is also going down. However, both oscillators are approaching oversold conditions, so sellers could still let buyers take over soon.

An area of interest is around $ 8,000 and a rebound from here could form the right shoulder of the reversal pattern. The price of Bitcoin has not yet exceeded the limit of around $ 9,200 to confirm a potential uptrend. This should last around $ 2,000 or the same height as the chart formation.

Market factors

The price of Bitcoin suffered another blow when it was reported that Japan’s FSA is seeking to close Binance in the country for not being able to obtain the necessary permits to operate. This revived fears of strict regulation around the world, after a bit of suspension in positive comments from the G20 Summit.

To add to that, the dollar gained strong gains across the board when risk aversion returned as fears of the trade war re-emerged. Trump signed a memorandum to impose higher tariffs on Chinese imports that involve the theft of US intellectual property. UU China responded that it will not back down in a trade war if it comes to that, so it urged the United States. UU To moderate its protectionist stance. A further escalation of tensions could mean more losses for riskier assets such as Bitcoin.