Cryptocurrency prices analysis and forecast – 14 December 2018

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Cryptocurrency prices analysis and forecast – 14 Desember 2018
Cryptocurrency prices analysis and forecast – 14 Desember 2018

BTC/USD

BTC/USD is being traded at $3,477 in the correction. The technical picture continues to remain unchanged. News background still does not bode well. So, AriseBank was fined $2.3M due to fraud charges while raising funds during the ICO. In addition, due to the unfavourable situation in the cryptocurrency market, the mining giant Bitmain is closing its unit in Israel. These are additional factors that will help to ensure that cryptocurrencies will continue to decline in the short term.

BTC/USD Forecast and analytics 14 December 2018
BTC/USD Forecast and analytics 14 December 2018

As part of the forecast for December 14, we can expect the continuation of the corrective movement in the range of $3,822 – $3,190. The signal area is now very narrow, so let’s mark it with a price level of $3,500. This is a dynamic zone of the asset price “balance” for the next day. Since now the coin is trading along this level, the price can push off of it both up and down. This push is unlikely to be strong and will be limited to the previously designated limits.

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An alternative would be to break the trading range to either side. In case of an upward breakdown of $3,822 and consolidation above $3,900, we can count on the development of a full upward correction. In case of a breakdown of the lower limit of $3,190, we can expect updates to current lows and a departure to the level of $3,000.

ETH/USD

ETH/USD is being traded at $91.97 in the correction. After the Ethereum developers confirmed the information about the Constantinople hardforks, a nervous tremor spread throughout the community waiting for the fork. Many fear the emergence of great controversy. In the extreme case, it can split the network. The only thing that has delighted many people is the reward for miners. It is expected to be reduced from 3 ETH to 2 ETH. Such nervousness in anticipation of Constantinople does not help stabilize the course of the coin. Therefore, it continues to be very vulnerable.

ETH/USD Forecast and analytics 14 December 2018
ETH/USD Forecast and analytics 14 December 2018

As part of the forecast for December 14, we can expect the continuation of the corrective movement in the range of $100.20 – $83.65. The technical picture is completely identical to Bitcoin. The signal area is now very narrow, so let’s mark it with the price level of $91.70. This is a dynamic zone of the asset price “balance” for the next day. Since now the coin is trading along this level, the price can push off of it both up and down. This push is unlikely to be strong and will be limited to the previously designated limits.

An alternative would be to break the trading range to either side. In the case of a breakout of the upward level of $100.20 and consolidation above $106.00, we can count on the development of a full upward correction. In the case of the breakdown of the lower limit of $83.65, we can expect the update of the current lows and the departure to the level of $77.76.

XRP/USD

XRP/USD is being traded at $0.31020 in the correction. The other day, Ripple appeared in a news article from Bloomberg about Swift again. Despite the fact that Ripple was only slightly mentioned in the article, many began to discuss the perspectives of their “collaboration” again. We decided to share our opinion on this. It’s time to stop just grabbing the topic of any partnerships and cooperation for the adherents of the coin. Representatives of Ripple over the past couple of months have repeatedly expressed that Ripple and Swift will not cooperate. Ripple aims to destroy Swift. At the same time, given that R3 implemented in Corda Settler XRP, this perspective is becoming more and more real. And although there is no official partnership between R3 and Ripple, they have completely resolved their differences and SBI unites them. The Corda Settler source code has references to Ripple. The chance that they are so stupid as not to distinguish between XRP and Ripple, and to use both in different places of the code, tend to zero. Therefore, since now Corda Settler makes only payments XRP-XRP without Fiat, it is quite possible that in the future this all will work on the Ripple protocol for using XRP as a bridge currency.

XRP/USD Forecast and analytics 14 December 2018
XRP/USD Forecast and analytics 14 December 2018

As part of the forecast for December 14, we can expect the continuation of the corrective movement in the range of $0.33850 – $0.28260. The technical picture is identical to the previous coins. The signal area is now very narrow, so let’s mark it with the price level of $0.31030. This is a dynamic zone of the asset price “balance” for the next day. Since now the coin is trading along this level, the price can push off of it both up and down. This push is unlikely to be strong and will be limited to the previously designated limits.

An alternative would be to break the trading range to either side. In case of an upward breakout of $0.33850 and consolidation above $0.34800, we can count on the development of a full upward correction. In the case of the breakdown of the lower limit of $0.28260, we can expect the update of the current lows and the departure to the level of $0.26650.

XMR/USD

XMR/USD is being traded at $43.030 in the correction. The coin is located near the very lows of the fall again and is clearly set to renew them once again. Earlier, while the rest of the market was trading in the flat, Monero had already made an uncertain attempt to continue the bearish trend and quite insignificantly, but updated its lows. This is happening now. The price shows a bearish mood, although the rest of the market has almost stopped for the last trading day. Given the characteristics of this asset, we can expect that the end of the current year will be met by market participants along with a new wave of decline.

XMR/USD Forecast and analytics 14 December 2018
XMR/USD Forecast and analytics 14 December 2018

In the framework of the forecast for December 14, we can expect attempts to get to new lows. The signal area is located at $48.550 – $44.550. This is a dynamic zone of the asset price “balance” for the next day. The price will tend to return to this value after moving higher or lower it. For now, it is lower and it is likely that the price will test it again, and then continue to decline in the region of $44.500 – $39.500.

An alternative would be the development of an upward correction. To start with, the price will need to break through $54.000 and go to the first goal of $60.000. After fixing at these levels, we can expect growth in the region of $78.000 – $72.000.