Ethereum, Ripple and Iota: Last Chance for the Bulls – Price Analysis
Ethereum, Ripple and Iota: Last Chance for the Bulls - Price Analysis
Neither Ethereum (ETH), Ripple (XRP) or Iota (IOTA) can hold the previous week’s gains and are all heading for lows from the previous month. The gentle course rallies of the previous week are already over. The bears continue to show their strength!
ETH: Keep a close eye on Novembertief
Ethereum: $ 143.64
Resistances / Targets: $ 159, $ 166, $ 188, $ 200
Supports: $ 133, $ 122, $ 102, $ 83
- Ethereum breaks corrective bear flag down.
- The lower edge of the $ 122 trend channel is increasingly coming into focus.
- Doubled floor with low in the range 133-140 US dollars as last chance for the bulls.
The course of Ethereum did not manage to train the bear flag to the end. Also, for several days, ETH failed to break the exponential moving average (blue) of the last 10 days (EMA 10) upwards on a daily basis. In recent days, the course was again on the decline.
Bearishe Variant (still favored): As a consequence of the continued weakness of Ethereum, the bear flag has been lowered. The price controls the historical low at $ 133. If this brand breaks, the gray support zone is increasingly becoming the focus of attention. A potential target is still the bottom of the trend channel at $ 122. Even a price slipping down the price gene 2019er low at 102 US dollars in the room. In the best case, even a retest of the 52-week low occurs at $ 83.
Bullishe variant: Furthermore, the price must above the Ema10 quoted on the daily closing price to generate a first buy-signal. Before the upper edge of the downtrend channel is activated as a target, Ethereum must first overcome the horizontal resistance (yellow) at just under $ 160. On the other hand, if the price breaks the trend channel, the targets are unchanged at $ 188 (23rd Fibonacci retracement) and $ 200 (horizontal resistance).
Indicators: Ethereum’s RSI and the MACD indicator remain bearish and are pointing more to the south. The sell signals are still active.
XRP: It will not work without bull power
Ripple Rate: $ 0,222
Resistors / Goals: $ 0.235, $ 0.274, $ 0.301, $ 0.335
Supports: 0.202 US dollars, 0.192 US dollars, 0.174 US dollars, 0.149 US dollars
- The resistance at $ 0.235 can not be broken again.
- The green uptrend line (dashed) is the last support before a renewed test of the year low could be pending.
- If the gray support zone breaks at $ 0.20, the green support area would still be the target.
- The trend channel top at $ 0.301 is the maximum recreational target.
The recovery last week lasted just before the bears took control again. The ripple price (XRP) has rallied in the past few days to the exponential moving average (red) of the last 20 days (Ema20). In the resistance area (orange), however, the price bounced down, which is bearish. Currently, the price quoted at the previous week level at $ 0.222. The year low of $ 0.202 remains the most likely target.
Bearishe variant (still favored): XRP could not surmount as in the week before the 0.235 US dollar. If the green dashed uptrend line breaks, the year low at $ 0.202 remains the expected price target.
The ripple price continues to trade near the downtrend channel (light blue). The likelihood of a bearish resolution of the downtrend channel gradually increases without missing bullish impulses. The targets are the $ 1.171 blue trendline and the $ 0.191 green support range. If the bears remain on the trigger in the near future, the bottom of the support zone could be reached at $ 0.128.
Bullishe variant: Only a price above the resistance at $ 0.235 on a daily basis would lighten the chart image somewhat and activate the price target at $ 0.274 (23er Fibonacci retracement). Further targets in the emerging buying mood are the upper edge of the trend channel at $ 0.303 and the maximum projection of the red resistance range at $ 0.335.
Indicators: MACD indicator with first buy-signal in the daily chart. The RSI, however, could not rise to the neutral zone above 45 and lowers the head again.
MIOTA: Green support zone as last bastion
Iota price: $ 0.197
Resistance / Goals: $ 0.221, $ 0.241, $ 0.260, $ 0.291
Supports: $ 0.187, $ 0.174, $ 0.142, $ 0.129
- The Iota class drops through the bear flag and is about 6 percent lower than last week.
- Iota’s share price performance remains very weak and new 52-week lows are only a matter of time.
- If the 0.187 US dollar does not stop, the downtrend threatens to accelerate.
- The resistance at $ 0.221 is the expected correction target for the time being.
The forecast of the previous week also seems to be true for Iota. The course did not manage to overcome the Ema10 on a daily basis and subsequently tipped off the bear flag. Currently, the price is below $ 0.20 and is testing the green support zone again. The chart picture continues to be weak.
Bearishe variant (still favored): In the week comparison, Iota has further lost ground. The bear flag only briefly halted the price before renewed selling pressure began. The primary target of $ 0.187 is just one cent away. Breaking that support, targets continue to be the top of gray support at 0.174, and ultimately the all-time low at $ 0.142.
In the best case scenario, Bitcoin and the market as a whole will weaken in the near future, which could allow targets at $ 0.128 and $ 0.091, respectively.
Bullishe variant: A ray of hope for the bull camp is the lower Bollinger band. This is currently increasing and thus acts as a price support.
There is also a bullish divergence in the indicator RSI. If the price can recover from the current level towards $ 0.221, this would be a first small indication of a possible reversal. The $ 0.24 resistance level would determine whether buyers can initiate a sustained bullish move.