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Forecast and analytics – 05 October 2018

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BTC/USD

BTC/USD is trading at $6,603 and continues to move in the flat. The coin is trading below the Ichimoku Kinko Hyo Cloud, which indicates a downward trend. After a short pullback, the price returned to the level of $6,580. This indicates the possibility of continuing price fluctuations in a narrow range of $6,662-$6,425, even for several days. This development is most likely associated with a temporary decline in interest in all refuge currencies, including digital, amid a strengthening dollar. Macroeconomics puts pressure on the unsecured cryptocurrency so far.

BTC/USD Forecast and analytics 05 October 2018
BTC/USD Forecast and analytics 05 October 2018

As part of the forecast for October 5, we can expect further price movement within the steady flat. We can see the impulse for growth from the current positions and, possibly, after more in-depth testing of the support zone, up to the lower limit of $6,330. The development of the upward movement is still in priority, and temporary kickbacks only set the impulse for price growth. The initial goal, in this case, will be to update the highs at $6.659 and then rise to $6,840.

Cancellation of this will be unsuccessful testing of the support area and, as a result, its breakdown. In this case, we can expect a fall to the level of $6,145 and an update of the lows.

ETH/USD

ETH/USD is trading at $224.60 and continues the lateral movement. The coin is trading below the Ichimoku Kinko Hyo Cloud, which indicates a downward trend. Over the past day, buyers won back the previous slight drop and the price went above $220.50 again. Despite the fact that buyers entered the market on good volumes, we did not see any good volatility. The coin continues to be traded in the flat.

ETH/USD Forecast and analytics 05 October 2018
ETH/USD Forecast and analytics 05 October 2018

As part of the forecast for October 5, the priority is to wait for the development of the upward movement, with the primary goal to update the nearest highs at $238.50 and gain a foothold above them. If this happens, we can wait for further growth with a goal of $255.00. Active actions by buyers are possible either from current levels, or after the retest of the support zone in the range of $215.50- $202.30.

Cancellation of this will be a drop in price on good volumes and consolidate below $202.30. In this case, we can wait for the descending movement, with the goal of $167.00.

XRP/USD

XRP/USD is trading at $0.53707 and continues the lateral movement within the framework of a steady flat. The coin is being traded inside the Ichimoku Kinko Hyo Cloud, which indicates the presence of a lateral trend. The situation remains unchanged. The price is at the lower limit of the Ichimoku Kinko Hyo Cloud $ 0.55000 and the movements along it are very modest. But we can still see the testing of the support zone itself, before the quotes go to the upper border of the flat.

XRP/USD Forecast and analytics 05 October 2018
XRP/USD Forecast and analytics 05 October 2018

As part of the forecast for October 5, we can expect the continuation of lateral movement in the framework of the settled flat and the development of the next rising wave to the upper limits of the $0.62800- $0.59650 corridor. The beginning of the movement may occur from current levels, or after the price leaves a little lower, to the support zone.

Cancellation of the development of an upward corrective wave will be a fall to the support level of $0.43650. In this case, we will need to closely monitor the price behaviour at this level, as updating this minimum and fixing the price below will speak about the development of a downward movement, and a bounce will only mean an expansion of the flat zone.

XMR/USD

XMR/USD is trading at $114.630 and continues the lateral movement in the ascending channel. The price of the coin is below the boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend. Over the last trading day, the coin traded without any significant changes and the price continues to stand at $112.800.

XMR/USD Forecast and analytics 05 October 2018
XMR/USD Forecast and analytics 05 October 2018

As part of the forecast for October 5, we can expect repeated attempts by sellers to get below the lower limit of the upward daily channel at $112.800. As long as this border is not pierced at the appropriate volumes, the development of the continuation of the upward movement in priority, therefore, after the retest of the support zone, we can expect an increase in price with an intermediate goal to update local maximum at $122.000, and then consolidate above $127.500.

Cancellation of the growth will be a breakdown of the price of the lower boundary of the ascending daily channel and fixing it below the minimum of $107.800. In this case, we should expect a further reduction of quotations in order to update the local minimum at the level of $104.200.

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