Cryptocurrency prices analysis and forecast – 10 December 2018

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Cryptocurrency prices analysis and forecast – 10 Desember 2018
Cryptocurrency prices analysis and forecast – 10 Desember 2018

BTC/USD

BTC/USD is being traded at $3,695 and is in corrective growth. The last wave of a fall on Friday provoked the closure of short positions of market participants. On the eve of holidays, many traders expected to decide to withdraw their profits. Therefore, during the weekend, we saw the development of an upward correction. Since this growth is not connected with the arrival of bulls on the market, it is not worth expecting that growth will start from it. Closest support level is around $3,000. By the end of the year, another corrective accumulation will probably be formed. It is possible that it will be wider than the previous ones. Now there are no prerequisites for a reversal of the market trend. Therefore, we are likely to see the testing of the $3,000 level, if not this year, then next. This is a historically significant level. Therefore, the price is very likely to meet with psychological support. This factor, together with the upcoming positive events of the first quarter of 2019, may in the future serve as a basis for changing the entire market movement.

BTC/USD Forecast and analytics 10 December 2018
BTC/USD Forecast and analytics 10 December 2018

As part of the forecast for December 10, we can expect a correctional lateral movement in the range of $3,275 – $3,920. Signal area is very narrow $3,600 – $3,565. This is a dynamic zone of the “balance” of the asset price for the next day. Departing from it higher or lower, the price will tend to return to this value. So, as now, it is higher, it is likely that the price will re-test it, and then continue the correction in the region of $4,000 – $4,090.

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An alternative would be the development of a full upward correction. For a start, the price will need to break through $4,200 and go to the first goal of $4,500. After fixing at these levels, we can expect growth in the region of $5,000 – $5,500.

ETH/USD

ETH/USD is being traded at $98.55 and is in corrective growth. Fixing short positions after another wave of sales occurred here. Last Friday we saw an increase of 17%. This is slightly more than the previous coin. The surge originally restored the massive losses that the coin suffered on Friday. The intensity of this jump was very unstable and short, due to the strength of the current bear market. The news about the upcoming hard fork possibly gave an additional impetus to the corrective growth. The developers of Ethereum reported that the hard fork Constantinople will be released approximately January 16, 2019. Also, Péter Szilágyi confirmed the planned update on his Twitter account.

ETH/USD Forecast and analytics 10 December 2018
ETH/USD Forecast and analytics 10 December 2018

As part of the forecast for December 10, we can expect a correctional lateral movement in the range of $87.40 – $104.70. Signal area is located at $94.80 – $96.35. This is a dynamic zone of the “balance” of the asset price for the next day. Departing from it higher or lower, the price will tend to return to this value. So, as now, it is higher, it is likely that the price will re-test it, and then continue the correction in the region of $104.70 – $106.60. It is also worth noting that the level of $100.00, most likely, will be a tough resistance for the coin. Therefore, the first breakdowns of the level will surely turn out to be false.

An alternative would be the development of a full upward correction. For a start, the price will need to break through $ 116.00 and go to the first goal of $ 130.00. After fixing at these levels, we can expect growth in the region of $ 150.00 – $ 155.00.

XRP/USD

XRP/USD is being traded at $0.32249 and is in corrective growth. Over the past weekend, the coin also formed a correction upwards. More notable here are the levels at which due to Friday’s fall, the price is now. The last time the coin fell to such low levels was September 11th. Then it consolidated for several days in the zone from $0.25000 to $0.30000 and rose sharply. Throughout its history, the coin began a bullish rally from current levels twice. From December 12, 2017, to January 4, 2018, the first major bull rally was observed. For all the time of its development, the price has risen by about 1200% from $0.20000 to $3.25000. Most recently, on September 18, 2018, the second rally took place. The price soared from $0.26650 by 190% and reached a maximum of $0.7925, after which the profit taking started. If we also take into account the scale of the fall in prices in November, it would not be surprising to see the beginning of the third rally from the current levels. But for this, it is necessary the bulls return to the market.

XRP/USD Forecast and analytics 10 December 2018
XRP/USD Forecast and analytics 10 December 2018

As part of the forecast for December 10, we can expect a corrective sideways or upward movement in the range of $0.29000 – $0.34750. The signal area is located at $0.31550 – $0.32030. This is a dynamic zone of the “balance” of the asset price for the next day. Departing from it higher or lower, the price will tend to return to this value. So, as now, it is higher, it is likely that the price will re-test it, and then continue the correction in the region of $0.34500 – $0.35600.

An alternative would be the development of a full upward correction. For a start, the price will need to break through $0.38500 and go to the first goal of $0.43000. After fixing at these levels, we can expect growth in the region of $0.45000 – $0.50000.

XMR/USD

XMR/USD is being traded at $48.640 and is in corrective growth. Over the past weekend, the coin re-tested a new low and abruptly went up. At the moment, the price has fixed a new correction high. This is a positive sign. Perhaps the market has a real chance of a full upward correction, due to the mass fixation of profits after protracted short positions. The technical need for such a correction is obvious. Perhaps if it were not for the closed end of the year, we would have seen it before. But market participants held and constantly increased short positions to the last. If the sales of the outgoing year are over, then the market will go sideways until the end of December. Trading activity will decline. However, there are no signals about a reversal of the bearish trend. Therefore, we will expect correctional growth and the formation of clear boundaries for the upcoming flat.

XMR/USD Forecast and analytics 10 December 2018
XMR/USD Forecast and analytics 10 December 2018

As part of the forecast for December 10, we can expect a corrective sideways or upward movement in the range of $44.000 – $52.820. The signal area is located at $47.800 – $48.700. This is a dynamic zone of the “balance” of the asset price for the next day. Departing from it higher or lower, the price will tend to return to this value. So, as now, it is higher, it is likely that the price will re-test it, and then continue the correction in the zone of $39.500 – $44.000.

An alternative would be the development of a full upward correction. For a start, the price will need to break through $62.500 and go to the first goal of $72.000. After fixing at these levels, we can expect growth in the area of $78.000 – $86.000.