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Forecast and analytics – 29 September 2018

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BTC/USD

BTC/USD is trading at $6,657 and continues to move within the rising channel. The coin is traded above the Ichimoku Kinko Hyo Cloud, which indicates an upward trend. Strong pressure in the resistance zone knocked the price down from the $6,840 area, but, most likely, its breakdown is only a matter of time. After all the limits of the sellers are activated, the coin will continue its growth and we can expect the price to be $7,000.

BTC/USD Forecast and analytics 29 September 2018
BTC/USD Forecast and analytics 29 September 2018

As part of the forecast for September 29, we can expect further development of the upward movement within the channel, with the potential to update the local maximum of $6,840. It is likely that the growth will follow after a small rollback and we can see a repeated testing of the support level of $6,560.

Cancellation of the further upward movement will be the withdrawal of the price down, again under the level of $6,560, with a potential target at the lower border of the support zone of $6,330.

ETH/USD

ETH/USD is trading at $224.89 and continues lateral movement within the rising channel. The coin is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a lateral trend. Testing of the previously broken resistance level of $220.50 has ended very ambiguously and the prospects for further growth here are not at all as shiny as those of the same bitcoin, especially given the fact that the bouncing the price down happened on large bearish volumes.

ETH/USD Forecast and analytics 29 September 2018
ETH/USD Forecast and analytics 29 September 2018

In the framework of the forecast for September 29, we can expect an attempt to re-test the level of $220.50 and the appropriate lower boundary of the rising channel that is close to it. If this retest is successful, it will be possible to talk about a further going up, with an intermediate goal to gain a foothold above the resistance level of $234.60 and higher to $250.00.

The abolition of this will be the fall and breakdown of the lower boundary of the rising channel and the level of $220.50. In this case, it will be possible to talk about the resumption of a downward trend with a target at the lower border of the support zone $200.00

XRP/USD

XRP/USD is trading at $0.54286 and continues lateral movement within the established flat. The coin is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a lateral trend. Unfortunately, after the explosive growth that the pair showed last week, the large buyer left, and now the remaining participants need time to calm down.

XRP/USD Forecast and analytics 29 September 2018
XRP/USD Forecast and analytics 29 September 2018

As part of the forecast for September 29, we can expect the continuation of the lateral movement and testing of the support level of $0.50000, where, taking into account the positive news background and market expectations for the resumption of growth, the price may bounce to an intermediate level of $0.62800.

Cancellation of the development of the upcoming channel will be the fall and update of the correction minimum $0.43650. In this case, it will be possible to consider the option of further corrective decline with the target to the area of $0.35000- $0.37000.

XMR/USD

XMR/USD is trading at $116.480 and is trading in the side movement. The price of the coin is inside the Cloud of Ichimoku Kinko Hyo, which indicates the presence of a lateral trend. After the attempt of growth, the price came across a strong enough resistance right on the lower borders of the zone and could not move deeper into it. The retest of the lower border of the ascending channel will show whether the sellers have any additional reserves to develop the continuation of the upward movement within the existing channel.

XMR/USD Forecast and analytics 29 September 2018
XMR/USD Forecast and analytics 29 September 2018

As part of the forecast for September 29, we can expect a second test of the lower boundary of the rising channel. It is not excluded that the price breaks down and the price goes lower, to the level of support of $112.800. So far, the development of the continuation of the upward movement in the priority, so after the retest, we can expect a repeated price increase in order to update the local highs at the level of $127.500.

The cancellation of the variant of growth will be the breakdown of the price of the lower border of the rising channel and its consolidation below the level of $112.800. In this case, we should expect a further decline in quotations in order to update local minimum at $104.200.

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