Weekly we will release a study on the trend of some of the main altcoins in the market.
This analysis is intended to guide your studies on the currency and help you to make decisions about your investments.
The study below is not a guide to buying or selling. Manage your risk properly.
If you read the previous analysis, we highlight the performance of WAVES (+ 151%), ALGO (+ 55%) and ETH (+ 15%), all of which were positive for the week.
Excellent profit, isn't it?
The cryptocurrency market is still capitalized in the range of U $ 360 Billion Dollars and, at the very moment I write this report, a greater volume is entering the market.
Which, if confirmed over the course of the day, will lead us towards the $ 400 Billion capitalization, therefore we expect to see an increase in the price of Bitcoin.
Bitcoin is pushing the $ 12000 resistance, with good volume. If the asset confirms a 4-hour candle above that zone, we will see an appreciation in prices towards U $ 13100 Dollars.
The USA is still in the fight against the stimulus package, whether it will occur or not, which moves the stock exchanges around the world and brings volatility to the market.
In Parallel there is the dispute between Trump X Biden that can move and encourage "emergency stimuli" so that Trump remains popular and does not lose political power.
Technical Analysis - Bitcoin - 4 Hour Chart
Bitcoin is in a positive scenario to rise this week.
We will find support in the range of $ 12,000 - $ 12,200 and initial resistance in the range of $ 13,000 - $ 13,100.
Now we will talk about the scenario of the main altcoins traded at Monnos and their potential for the week.
The timing is quite peculiar, as a bit of Bitcoin pull will make altcoin suffer a little. However, if Bitcoin's price stabilizes during the week, we will see a return to positive performance.
Therefore, our view is initially more conservative. To follow the market throughout the week, I recommend that you follow our work on our free telegram channel.
Initially, we are on the defensive with altcoins this week.
In our view, the most positive on the market right now is Ripple (XRP) who would say, huh?
Some currencies like LINK, WAVES are classified as neutral or negative as they are already extremely stretched and the best thing to do is to stay out.
In line with our rationale, I choose to trade altcoins in the usd pair only those that are positive in the btc pair.
So, we increased our probability of success in operations.
Altcoins with pair on USD
Now we will analyze those that can bring good results, trying to identify the best buy / sell area to carry out the operations
XRP/BTC (Potential earns of 32,90%)
XRPBTC chart 4 hours.
XRPBTC followed our last analysis, having already reached the first target, which was the resistance of 2580.
The next resistance is in the range of 2790 satoshis.
Supports: 2400-2490; 2580
XRPUSDT (Potential earns of 43,51%)
XRPUSDT on the 4-hour chart - Potential of 43.51%
XRPUSDT tends to continue rising, driven by its appreciation trend in the BTC pair.
Bitcoin valuing towards $ 13,000 will also pull the currency into a bullish move.
Supports: U $ 0.29 - U $ 0.30
Resistance: U $ 0.34 - U $ 0.41
Bitcoin Cash (BCH)
Bitcoin Cash Technical Analysis on BTC pair
Bitcoin Cash does not yet have a clear bullish view, however, it is in a good accumulation zone.
We highlight its supports and the main resistances are formed by Moving Averages.
It is not a short-term trade, as we do not have clear buying signals yet, but it has a good upside reversal formation, whoever is going to buy with the HOLD perspective should think in the long term and ignore short-term fluctuations.
Supports: 24000; 24800
Resistances: 29000 – 30500
BCHUSDT (Potential earns of 54%)
Bitcoin Cash Technical Analysis for USDT - 4 Hour Chart - Bullish View
Bitcoin Cash follows the bullish view pulled by the market in USD (Bitcoin pulls the whole market up or down if it falls).
At the moment, we are looking at an increase, which has a potential return of up to 54%
We emphasize, once again that it is not a trade vision, only a long-term analysis.
Resistances: U $ 355; $ 400; $ 490
Support: $ 290- $ 300
LTC/BTC (Potential earns of 42,13%)
Litecoin on Bitcoin pair - Technical Analysis - 1 Day Chart
Litecoin has not yet triggered the purchase trigger, it is below the averages and will only be considered a purchase if it manages to break the averages on the daily chart.
Scenario - You have to break the level of 5600 satoshis, then you can get up to 8000 satoshis, representing a potential of 42.13%.
Litecoin on the Dollar pair - Daily Chart - No entry
Litecoin on the dollar pair is in an uptrend.
Those who followed our latest analyzes were able to position themselves well for this increase, with a position of approximately 31.60% profit so far.
We do not see a buying zone today, as it is very detached from the support, making your stop very expensive.
Main support: U $ 60- U $ 62
Potential of Up to: U $ 83
Binance Coin (BNB)
BNBBTC (Potential earns of 35,31%)
Binance Coin Graphical Analysis - Daily Graph - Accumulation Zone
Binance Coin is in an Accumulation Zone.
With a high probability of starting a bullish movement that can bring up to 35.31%.
Support in the range of: 18900-19600
Resistances: 21700; 22900; 25700
BNBUSDT (Potential earns of 20,33%)
Binance Coin Technical Analysis for Dollar - Daily Chart (BNB / USDT)
In the USDT view, the pair has moved positively since our last analysis.
For those looking to buy now it is not advisable, as it is in the face of resistance.
Supports: $ 21- $ 22
Resistances U $ 24; $ 26
Brave Attention Token (BAT)
BATBTC (Potêntial earns of 26.76%)
Technical Analysis - Brave Attention Token (bat) in Bitcoin pair
BAT is in an important support at the moment, and can bring good fruits in the short term.
Resistances: 2700; 2900
BATUSDT (Potential earns of 43.97%)
Graphical Analysis Brave Attention Token (BAT) in the Dollar pair
BAT in the dollar pair would be an interesting step back for the supports, before we consider it a good option. Retreating has a potential of up to 43.97% with a good risk / return ratio.
Support: $ 0.29
Resistance: U $ 0.31; $ 0.35; $ 0.40
NANOBTC (Potential earns of 15,25%)
Nano Technical Analysis on Bitcoin Pair - Daily Graph
Nano is at an interesting level, we just do not recommend it in a positive way due to the initial caution required by the market.
Due to the moment of bitcoin, other than that, Nano has a potential of 15.25% of gains.
Resistance 1130; 1200
Initially, the market is paying attention to Bitcoin, and this may cause altcoins to stay in the background until it stabilizes.
Therefore, our Analysis of the week is very conservative compared to the previous week.
Investment is the game of patience, so don't be in a hurry, if you are, you will have losses for nothing.
The currency with the highest potential and probability of positive performance for the week is Ripple.