Technical analysis by ETH, XRP, ADA, BNB and UNI

ETH

ETH is up 9% today as the price exceeds $ 3,000. The coin has now broken the upper bound of the previous range the price has traded in for the past two weeks. The range is between $ 3,150 and $ 2,800 and ETH bounced off the lower bound on Wednesday, where the price found support at the 100-day MA.

Since then, ETH has tried to break out of the descending trend line from September and move back above the 20-day MA.

Looking ahead, the first resistance is at USD 3,300 (50-day MA). Followed by 3,350, 3,500, 3,600, 3,790 (Fib around 0.786), $ 4,000.

Conversely, the initial support is at $ 3,000. This is followed by 2,890, 2,770 (Fib 0.786 & 100-day MA) and 2,620 USD (200-day MA).

ETH / USD daily chart | Source: TradingView

ETH continues to trade sideways against BTC as the price is in the 0.0711-0.0667 BTC range. The second largest cryptocurrency in the market tried to break the 0.0711 BTC resistance earlier this week but was unable to cross it. As a result, it fell for the week until it found current support on the uptrend line.

ETH / BTC needs to break the above mentioned range for the next direction of the market.

The first support is on the uptrend line. This is followed by support at the lower end of the range of 0.0667 BTC (Decline Extended Fib 1.272 & 100-day MA), 0.066 BTC (0.618 Fib retracement), 0.065 BTC and 0.0632 BTC (1.618 bearish Fibonacci expansion) .

Conversely, the first resistance is at 0.071 BTC (50-day MA). Next, the top corner of the price channel is 0.0733 BTC, 0.075 BTC, and 0.0765 BTC (Fib down 0.786).

ETH / BTC daily chart | Source: TradingView

XRP

XRP is up 9% today as the price breaks above the $ 1 mark again. The coin traded in a descending wedge throughout September and didn’t manage to break the top corner of the wedge until Wednesday.

The price found support at $ 0.9 provided by the 100-day MA, which allowed XRP to rebound and climb through the top corner of the wedge. Today a gain of 9% pushed the price back above the 200-day MA, the 20-day MA and USD 1.

Ahead of us is the initial resistance at $ 1.05 which was the previous strong support. Above that line there is also resistance at $ 1.1 (50-day MA), $ 1.5, $ 1.20, and $ 1.25 (February 2018 highs).

Conversely, the first support is at USD 1 (20-day MA). This is followed by $ 0.96 (200-day MA), $ 0.9 (100-day MA), and $ 0.8282 (2020 highs).

XRP / USD daily chart | Source: TradingView

XRP appears to be battling BTC as it trades below 200 MA today. The pair has been stuck in a range between 3,200 SAT and 2,100 SAT for the past two weeks and needs to break through that range to give the market its next direction.

The first strong support is at 2,100 SAT (100-day MA). This is followed by 2,050 SAT (Fib 0.618), 2,000 SAT, 1,860 SAT (Fib 0.786) and 1,800 SAT (July 2020 low).

On the flip side, the first resistance is at 2.225 SAT (20-day MA). Followed by 2,300 SAT, 2,400 SAT (50-day MA), 2,463 SAT (Fib down 0.5) and 2,560 SAT (Fib down 0.618).

XRP / BTC daily chart | Source: TradingView

ADA

ADA is down slightly 4.4% over the course of the week while trading at $ 2.22. It moved down from the resistance at USD 2.36 (Fib 0.382 down) earlier in the week and continued down until it hit the USD 2 support (Fib 0.618).

On Wednesday ADA rose from $ 2 and rose above the descending trend line yesterday. Today ADA continues to move higher and encounters resistance at the 20-day MA.

Looking ahead, initial resistance is at $ 2.36 (Fib down around 0.382). This is followed by USD 2.50 (Fib around 0.5 and 50-day MA), USD 2.65 (Fib around 0.618) and USD 2.80.

On the flip side, the initial support is at $ 2.21 (Fib 5). This is followed by USD 2.1, USD 2 (Fib 0.618), USD 1.88 (100-day MA) and USD 1.80.

Daily ADA / USD chart | Source: TradingView

ADA is under downward pressure on BTC as it struggles to hold September support today. The third largest cryptocurrency on the market started the week with around 5,400 SATs. Unfortunately, it was unable to break this resistance and has since fallen below the 50-day MA.

The price continued to decline over the course of the week until it found support at 4,715 SAT (Fib Retracement 0.5) today.

If the bears push ADA below 4,715 SAT, initial support is at 4,600 SAT. This is followed by 4,500 SAT (100-day MA), 4,350 SAT (0.618 Fib) and 4,220 SAT (1,272 bearish Extended Fib).

Conversely, the first resistance is at 4,800 SAT. This is followed by 5,000 SAT, 5,200 SAT (50-day MA), 5,400 SAT and 5,800 SAT.

Daily ADA / BTC chart | Source: TradingView

BNB

BNB is up a solid 8.2% on the week as the coin topped $ 400 again today and hits $ 413 today. The price traded within a falling wedge pattern in September.

On Wednesday, the NBB finally reversed course, broke out of the upward pattern, and encountered resistance at the 100-day MA. The 100-day MA resistance was broken yesterday and the price continued to climb above $ 400, the 200-day MA today to hit $ 413.

Looking ahead, initial resistance is at $ 425 (50-day MA). Followed by $ 450, $ 460 (Fib around 0.5), $ 475, and $ 500. Other resistances are at $ 516 (Fib around 0.618) and $ 550.

Conversely, the initial support is $ 400 (200-day MA). This is followed by $ 380 (20-day MA), $ 375 (20-day MA), $ 260 (Fib 0.618), and $ 350.

BNB / USD daily chart | Source: TradingView

BNB is very flat against BTC as the price is currently within a long-term descending triangle pattern. It started at around 0.01 BTC in September and declined over the course of the month.

Late last week, the BNB found support in the lower corner of the long-term triangle. It has since bounced back over the course of the week and back above 0.008 BTC. On Wednesday, the BNB exploded higher, hitting a high of 0.009 BTC (200-day MA). She has not been able to break this resistance for two days.

Looking ahead, the initial support is at 0.0085 BTC (20-day MA). Next up are 0.00829 BTC (Fib 0.5), 0.008 BTC, and 0.00757 BTC.

Conversely, the first resistance is at 0.009 BTC (50-day MA). This is followed by 0.0095 BTC, 0.01 BTC, 0.0105 BTC and 0.011 BTC (Extended Fib 1.272).

BNB / BTC daily chart | Source: TradingView

UNIVERSITY

UNI is up an impressive 19.7% this week as prices topped $ 25 again. It traded within a descending wedge throughout September, with the cryptocurrency finding support at $ 18.25 (December Extended Fib 1.272) on Sunday and rising to resistance at $ 24 (50-day MA).

The wedge breakout finally happened today as UNI pushed the price above $ 25.

Looking ahead, the first resistance is at $ 27.50. It is followed by $ 30 (Fib 0.5 down), $ 31.2 (September high), and $ 33 (Fib 0.618 down).

Conversely, the initial support is at USD 24 (20-day MA). This is followed by $ 23 (200-day MA), $ 22, $ 20.6 (Fib 0.618) and $ 20.

UNI / USD daily chart | Source: TradingView

The BNB also tried to break the wedge against BTC this week. The pair is currently trading back above the 200-day MA at 0.000537 BTC after finding support at 0.00045 BTC on Sunday.

Looking ahead, the first strong resistance is at 0.0005800 BTC (Fib down 0.382). This is followed by 0.0006 BTC, 0.0006315 BTC (Fib down 0.5) and 0.00065 BTC.

On the other hand, the initial support is at 0.00053 BTC (200 day MA). This is followed by 0.0005 BTC (Fib 0.5), 0.00045 BTC and 0.000412 BTC (Fib 0.618).

UNI / BTC daily chart | Source: TradingView

You can see the coin prices here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

Minh Anh

According to Cryptopotato

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