- Bullish scenarios are filled and bring the Top 3 to the launch pad.
- Ether’s dominance soars and improves by more than 10% in a single day.
- The movement has great potential, unprecedented since the 2017 shock.
Yesterday, Ether had a strong impact and increased his level of dominance by 10%, easily surpassing the SMA200 and recording one of the largest upward movements in a day since the recordings started.
The scale of the movement is essential, but the impact on the scenarios is even more critical than what the components of the Top 3 can develop from here.
The Ether Dominance chart is currently trading at the price level of 9.22 and exhibits significant resistance to the long term downtrend line (A) which would pass through the 10.40 level.
The crypto market is expected to continue to grow until the level of ether dominance reaches the level of the trend line. If the movement stops and falls, the upward momentum is ended. If the ether dominance graph manages to cross this downward trend line (A), the moon will only be a stop to the cryptographic journey beyond the solar system.
The ETH / BTC chart rose sharply yesterday and pulverized the resistance of the main moving averages without any problems. This pair of crypto is a direct result of the market, and its trend is setting the pace for the entire cryptocurrency segment.
ETH / BTC daily chart
The ETH / BTC pair is currently trading at the price level of 0.0234 and is well above the main moving averages. In Europe, the day begins with little movement, which is normal after yesterday’s steady rise.
Today’s trading may see some sell in favor of Bitcoin, seeking support for the 0.0225 level.
Above the current price, the first resistance level is 0.025then the second to 0.0268 and the third to 0.0275.
Below the current price, the first level of current support is at 0.0228then the second to 0.0225 and the third to 0.0215.
The MACD on the daily chart shows a clear improvement in the bullish profile, both in opening and in upward trend. The presence of the neutral level of the MACD indicator will act as technical resistance, but with this profile, this should not pose any significant problem.
The DMi on the daily chart shows how the bulls forcefully take control of the situation, but still move below the ADX line. Until the D + is above this trend strength indicator, the bullish model will not be activated, which would indicate that if this scenario is realized, the upside potential is enormous.
BTC / USD daily chart
BTC / USD is currently trading at $ 7,352 and managed to break through the long term bear channel cap and also the EMA50. The upward movement yesterday changed the scenario to a neutral scenario. The full bullish scenario is above the price level of $ 8150.
Above the current price, the first resistance level is $ 7,450then the second to $ 7,600 and the third to $ 7,725.
Below the current price, the first level of support is $ 7,250then the second to $ 7,140 and the third to $ 6880.
The MACD on the daily chart shows how the bullish profile increases and copes with the resistance of the 0 levels of the indicator with an optimal profile to overcome it without problem.
The DMI on the daily chart shows how the bears manage to break the ADX line and activate a bullish model which significantly supports the general dynamics of the market.
ETH / USD daily chart
ETH / USD is currently trading at $ 172.5 after yesterday’s sharp rise. Despite the conquest of the $ 170 level and breaking the EMA50, the ETH / USD could not break the SMA200. The Ether scene is very bullish, so it could reach this stage even if I conclude this article.
Above the current price, the first resistance level is $ 180then the second to $ 190 and the third to $ 195.
Below the current price, the first level of support is $ 170then the second to $ 160 and the third to $ 155.
The MACD on the daily chart shows an improvement in the bullish profile between the averages.
The current configuration suggests an upside crossing without too many problems for the ETH / USD pair.
The DMI on the daily chart shows that the bulls take control of the ETH / USD pair but limited by the presence of the ADX line in the short term. ETH / USD will not enter a full bullish phase until it crosses this trend line.
XRP / USD daily chart
XRP / USD is currently trading at the price level of $ 0.2002 after climbing above the EMA50 and the psychological level of $ 0.20 yesterday.
Above the current price, the first resistance level is $ 0.218then the second to $ 0.223 and the third to $ 0.24.
Below the current price, the first level of support is $ 0.196then the second to $ 0.19 and the third to $ 0.178.
The MACD on the daily chart shows an improvement in the bullish profile. The presence of the MACD level zero indicator should not be a significant obstacle to the XRP / USD pair with the current configuration.
The DMI on the daily chart shows how the bulls cross the ADX line and therefore activate the bullish pattern in the medium term.
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