Black Friday: prices of Bitcoin, Ether, XRP more in the descent

the While Black Friday, the retailers cash registers ringing, it means a black Friday (crypto)stock exchanges up to no Good. The battered market for Bitcoin, XRP & co. has experienced in the past 24 hours, an additional rate loss.

By Christopher clover
23. November 2018 share Facebook Twitter LinkedIn xing mail

The sell-off in crypto markets. The price of Bitcoin has fallen in the past 24 hours by a further 5.5 per cent, and in the meantime has broken the Support of 4,300 US dollars. Currently, the price moves just above this mark. The market capitalization of BTC is decreased by nearly four billion US dollars and now stand at approximately 74 billion U.S. dollars. Thus, the market capitalisation fell within seven days by more than twelve billion US dollars.

A glance at the weekly chart for the Bitcoin course is now. Since the end of 2015, the applicable Support was through the course of the last few weeks, falls to be tested. This is currently equal to the sliding average of the last 140 weeks, since the beginning of 2016 sustaining Support. This should not hold – and, according to the oversold RSI, we still have "room to fall" – would be the next interesting Support by the sliding-given the average of the last 200 weeks, about 3,000 US dollars.

Ethereum is testing US $ 120

the battered and formerly second largest crypto-currency, Ethereum continues its downward trend. The Ether-price dropped within a day to ten dollars to the current level of US $ 125 – a 24-hours-a Minus of 7.5 per cent. After all: The Support of US $ 120 has been tested and can withstand up to now. The market capitalization of Ether fell within the last seven days to $ 5.5 billion and now stands at almost 13 billion US dollars.

as absurd As it is at current price developments: The Chart of Ether-course hope that the recent price developments as a Test of Support from the downward channel that has been in place since April, it turns out. At least in September of this could keep. Similarly, the oversold RSI suggests a Reversal of hope. It should not stop at the Support, however, must be clear to us that we will soon see an Ether-price under US $ 100. 85,75 US Dollar and even 45,46 the US Dollar would be on the Basis of the bullish trend between February and may of 2017 is quite possible.

XRP joins the losers

Even the XRP from Ripple remained from the recent buckling of the courses are not spared. While the "banking Coin" was able to claim in the ongoing bear market is not yet well, he takes part in the day-to-Day in the ranks of the losers. The XRP price has decreased by seven percent to $ 0.41. However, the distance of XRP grows to Ether in terms of market capitalisation – this is dropped in the course of the week, "only" about 2.5 billion dollars to 16.6 billion US dollars. The Outlook could be worse:

tests Although XRP is just the moving average of the last 20 weeks, in the daily chart as the MA140. However, he did this before, for example, at the beginning of October. As long as XRP can continue to hold above this a bull market, suggesting the indicator may miss investors ' big rallies, the course develops but overall good. The Support appears to be stable, it will be but not only by the MA140, but also by the between June and August, traversed the Plateau is defined. Only if this Support is sustainable, undercut, Ripples crypto-currency seriously. Then expect a fall to 0.34 US dollars.

problem family Bitcoin to Cash

Bitcoin, Cash has to be accepted by the Top-of-the Coins, the harsh loss. The schism of Bitcoin ABC and Bitcoin SV acts in the already ailing crypto market as a catalyst for the downward trend of the Bitcoin to Cash exchange rate. This fell within the last seven days by more than 50 percent. This is significantly higher losses than in the case of Bitcoin (22 percent), XRP (12.4 percent), and even Ethereum (30 percent). BCH was out of the sixty largest Coins by market capitalization, by far, the worst Performance.

The current price level of Bitcoin Cash has of course never seen before. Anyway, fact is that the course is currently testing a since November, applicable Support. Should not this hold where could we go? Further Support Level is done according to risk, and in the illustration above, on the Basis of the Fibonacci Retracement Levels. On this Basis, the next Support would be at around 66 US dollars.

the continuation of The downtrend is not more surprising probably. The impression that investors have written off this year, will increase. The focus is now on the coming year and the expected progress of technology, regulation, and adaptation. The latter would be far along, would have given the Black Friday certainly the crypto-market, positive impulses.

BTC–ECHO