Weekly we will release a study on the trend of the main altcoins that are in Monnos.
This analysis is intended to guide your studies on currency and to help you make decisions about your investments.
** The study below is not a guide to buying or selling. Manage your risk properly.
The market is capitalized at $360 Billion, has remained stable since last week.
Bitcoin remains traded at the limit of $12,000.
The world is directly affected by Trump's clash with Congress, on whether or not to approve the new stimulus package, which will inject more money into the North American economy, seeking to avoid a recession.
This lack of definition and political struggle brings volatility in all markets, including crypto.
In general, the dollar has lost strength among the main pairs (GBP / USD and EUR / USD), which may favor an upward trend in crypto.
Bitcoin is trading at the threshold of $12,000.
You spent the whole week within the region mentioned in our last analysis, if you were guided by it, it had good results!
This movement is called "consolidation", where the market assimilates the new price level reached by the asset (in this case, bitcoin) and determines whether it is "expensive" or "cheap".
If it is "expensive" a correction will come, if it is "cheap" we will have another wave of bullishness.
As long as that decision does not occur, we will see the price sideways between $11,000 - $12,000.
When will we know about this decision? Well, it will happen if the market manages to break the previous top $12,100 (and stay above).
If that happens, we will have another bull rally towards 13,000. If not, Bitcoin tends to find support in the range of 10,400 - 10,600.
They are the main zones of the moment.
Here we are detailing the scenario of the main altcoins traded at Monnos.
Note that the majority is positive, which is aligned with our expectations of improvement in the alts market and strong "altseason" until the end of the year.
ETH/BTC (Potential Earns of 66.14%)
In our last analysis, we pointed out that ETH would give a setback to the 0.032 satoshi zone.
It happened, the currency remains positive to seek a new bullish movement.
Resistances: 0.038; 0.042; 0.055
ETHUSD (Potential Earns of 22.87%)
In the Dollar view, Ethereum remains positive.
However, it is far from the supports, which makes a stop very expensive.
Support at $290; $350
Resistance: $416; $ 490
XRP/BTC (Potential Earns of 32.90%)
XRPBTC is in a good level of support and with an excellent upside perspective.
Resistances at: 2580; 2790
XRP/USD (Potêncial de Ganho de 50.29%)
xrpusd tends to continue rising, driven by its upward trend in the BTC pair.
Stands: $0.26- $0.29
Resistance: $0.34 - $0.41
ADA/BTC (Potential earns of 45.01%)
ADA in the BTC pair is within an important consolidation zone.
The weekly view tells us that support of 1200 satoshis is very important at the moment, that is, short stop.
Targets: 1360; 1500; 1785
ADAUSD (Potential earns of 59.07%)
ADA in the USD pair tends to follow the appreciation with its BTC pair.
Therefore, we highlight the greater probability of a bullish movement.
Resistances: $0.19; $0.23
Support: $0.12 - $0.14
BINANCE COIN Analysis
BNBBTC (Potential earns of 35% de ganhos)
BNB remains close to being extremely positive.
Last week it tried to stay above average and pull a positive movement, but it failed.
However, it is in consolidation and, we believe it may lead to a strong increase.
Resistance: 21000; 23000; 25000
BNBUSD (Potêncial de 20% de ganho)
USD BNB is also positive, strengthened by its BTC pair being positive.
Supports: $18; $21
Resistance: $23.8; $26
ALGO/BTC (Potential earns of 53%)
Something is in a strong uptrend in the btc pair.
The averages behave positively, below the price, helping to boost the movement.
Support: (0.31-0.32) and (0.38-0.39)
Resistance: 4200; 5100
ALGOUSDT (Potential earns of 162%)
SOMETHING in the USD pair, in our view, is more risky.
Well, it is a long way from its supports, which makes the stop very expensive.
A purchase in the range of $0.30 - $0.35 can be interesting.
Supports: $0.30 - $0.35
Resistance: $ 0.50; $0.86
ICX/BTC (Potential earns of 24.62%)
ICX also has a positive bias.
I would expect a retreat to the 3400-3500 satoshi range, which is the main support of the moment.
ICXUSDT (potential earns of 127.80%)
ICX continues in excellent graphic design.
Great high potential, with resistance levels highlighted in the analysis.
Support: $0.42 - $0.47
Resistance: $ 0.74; $0.99
WAVES/BTC (Potential earns of 162.83%)
Waves has a promising design and is coupled with an excellent high graphics configuration.
Supports: 1400; 1500
Resistance: 1990; 2890; 4230
WAVESUSDT (potential earns of 98.80%)
Waves has a bullish pattern.
The downside is that it is a long way from price supports, a retraction would be ideal for outsiders entering.
Resistance: $2.5; $3.34
The Vision is extremely positive for altcoins, but I remind everyone that it is not a short-term vision.
I mention that the analyzes tell us, at the moment, that altcoins will have an extremely positive end of the year.
So, these forecasts that are more aggressive, can be realized smoothly in this horizon.
None of these analyzes is a prediction of the future, only a study of probability and pure mathematics.
Always look at the STOP of your trade and adapt to it!
Bitcoin follows an upward trend, but in a consolidation scenario (lateralization) until it breaks the previous top $12,100.