ETH, XRP, ADA, DOT Technical Analysis October 15th

ETH

This week, ETH is 6% higher as the price continues to rise within the ascending channel. The channel formed in early October after the market’s largest altcoin found support and reversed at $ 2,800.

Last week ETH encountered resistance at USD 3,600, which caused the price to fall towards the USD 3,400 support. Thereafter, the price rebounded from $ 3,400 on Wednesday as it hit the lower bound of the channel. Yesterday ETH managed to break through $ 3,600 and rise to the resistance of $ 3,790 (Fib fell 0.786).

If the bulls break $ 3,790, the first major resistance will be at $ 4,000. This is followed by $ 4,060 (Fib Extension 1,414 – in blue), $ 4,200, $ 4,282 and $ 4,400.

Conversely, initial support is at $ 3,670. Next are $ 3,580 (Fib.

Daily ETH / USD Price Chart | Source: TradingView

ETH / BTC continues to struggle for the week as it maintains a lower trend within the descending channel. The pair has declined from 0.078 BTC since early September, lasted 2 months, and finally broke key support at 0.0643 BTC (Fib 0.618) last week.

This week, ETH fell as low as 0.06 BTC on Tuesday. More specifically, it found 1.414 Fib expansion support on the downside at 0.0615 BTC and the 200 day MA. Since reaching this support, ETH has risen higher but is struggling to break the 0.066 BTC resistance.

Looking ahead, the first resistance is at 0.066 BTC. This is followed by 0.068 BTC (upper corner of the price channel), 0.0691 BTC, 0.07 BTC (50-day average) and 0.072 BTC.

Conversely, the initial support is at 0.0632 BTC. This is followed by 0.062 BTC (200-day MA), 0.0615 BTC (Extended Fib), 0.06 BTC and 0.0588 BTC.

ETH / BTC daily price chart | Source: TradingView

XRP

XRP is up 5% for the week and remains above the 50-day MA. Like ETH, XRP is trading on an ascending channel that formed in early October and attempted to break the 50-day MA at $ 1.1 earlier this week and peaked at $ 1.25 (the highest level seen in February 2018).

Unfortunately, XRP couldn’t break the resistance in the top corner of the channel and began to reverse from there. It remains above the 50-day MA and tests the support in the lower corner of the channel.

Looking ahead, the initial support is at USD 1.1 (50-day MA). This is followed by USD 1.05 (20-day MA), USD 1 (200-day MA), and USD 0.95 (100-day MA).

Conversely, the initial resistance is at USD 1.15. This is followed by $ 1.25 (February 2018 high), $ 1.36, $ 1.4, and $ 1.6 (Fib minus 0.786).

XRP / USD daily chart | Source: TradingView

XRP lost important levels at 1,940 SAT this week as the price slid to a new 2-month low today after hitting 1,860 SAT (Fib 0.786). This altcoin has been operating in a descending channel since early September and is falling continuously.

Last week, buyers found support at 1,940 SAT after falling below 2,000 SAT. Back then it looked like the support to the SAT was in 1940, but today it was finally broken.

In the future, the first support will be 1,860 SAT (Fib 0.786). This is followed by 1,800 SAT (end of July 2020), 1,735 SAT (Fib 0.886) and 1,700 SAT.

Conversely, initial resistance is at 1,940 SAT (previous support). This is followed by 2,000 SAT, 2,075 SAT (20-day MA), 2,150 SAT (100-day MA) and 2,250 SAT (200-day MA).

XRP / BTC Daily Price Chart | Source: TradingView

ADA

ADA struggled for the week after falling 5%, pushing the price below the 20-day MA. The coin found support at $ 2 in late September and has since traded in a range between $ 2 and resistance at $ 2.35 (0.382 bearish fib) in October.

In addition, ADA is trading below the downtrend line that has existed since the beginning of September, a break above and the upper limit of the range will allow ADA to initiate a rebound back towards the ATH.

Looking ahead, the first resistance is at USD 2.2 (20-day MA). This is followed by USD 2.35 (Fib down 0.382), 2.4 USD (50-day MA), 2.5 USD (Fib down 0.5) and USD 2.65 (Fib down 0.618).

Conversely, the initial support is at USD 2 (100-day MA & 0.618 Fib). It is followed by $ 1.88 (Fib goes down 1.414), $ 1.8, and $ 1.72 (200-day MA).

Daily ADA / USD Price Chart | Source: TradingView

ADA is also falling sharply against BTC as it hit a new 2-month low at 3,620 SAT this week. The price fell below the descending channel last week but found support at 4,000 SAT.

Unfortunately, ADA traded below 4,000 SAT on Monday as it fell below the 200-day MA to find support at 3,760 SAT (Fib 0.786). That support was broken today as the price continued to slide to 3,620 SAT.

Looking ahead, when the bears drop below 3,620 SAT, initial support is at 3,500 SAT. This is followed by 3,410 SAT (FIB extended downwards to 1.272), 3,200 SAT and 2,065 SAT (Fib 0.618 & August support).

On the other hand, the initial resistance is at 3,760 SAT. This is followed by 4,000 SAT (200-day MA), 4,295 SAT, 4,500 SAT (100-day MA) and 4,670 SAT.

Daily ADA / BTC chart | Source: TradingView

POINT

DOT rebounded very strongly (18%) this week, eventually pushing back above $ 40. The price found support at $ 26.22 in late September and rebounded from there. It continued higher through the first week of October, reaching resistance at $ 37.5 (September resistance).

The September high was broken on Wednesday when the DOT surged above $ 40 to a monthly high of $ 42.5. Since then, the DOT has fallen slightly, trading around $ 40.

Looking ahead, initial support is at USD 39.2 (Fib 0.236). Followed by $ 37.5, $ 34.7, $ 32.4 (Fib 0.618 & 50-day MA) and $ 30.

Conversely, initial resistance is at $ 41.35 (Fib down 0.786). Followed by $ 42.5, $ 45.3 (Fib down 0.886), $ 46.7 (Fib expansion 1.272), $ 48.5, and $ 50.

Daily DOT / USD Price Chart | Source: TradingView

ADA is currently trying to bounce back to September highs against BTC. The rate found support at the 200-day MA around 6,000 SAT earlier in the week and has since risen again.

It crossed the 50-day MA during the week and peaked at 7,500 SAT on Wednesday. More specifically, ADA failed to close the daily candle above 7,286 SAT (Fib down 0.618) and has since slipped to the 50-day MA.

Looking to the future, the first support is at 6,500 SAT (20-day MA). This is followed by 6,000 SAT (200-day MA), 5,760 SAT (Fib 0.5) and 5500 SAT (100-day MA).

Conversely, the first resistance is 7,000 SAT. Followed by 7,285 SAT (Fib minus 0.618), 7,500 SAT and 8,000 SAT. There is also another resistance at 8,310 SAT (Fib down 0.786), 8,500 SAT and 9,000 SAT (Fib down 0.886).

DOT / BTC daily price 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.

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