Weekly we will release a study on the trend of some of the main altcoins in the market that are available at Monnos.
This analysis is intended to guide your studies on the currency and help you make decisions about your investments.
**The study below is not a guide to buying or selling. Manage your risk properly.
In the past analysis we passed a positive view of Bitcoin, when breaking the $ 12000 it was more likely the scenario of seeking the range of $ 13200, however, it had no strength and had a performance of -0.89% in the week.
We also pointed out that a more conservative view of the market was necessary, and this stance was extremely positive, since the currencies that we highlight as not favorable for operations, had negative behaviors.
The only one that we highlighted as positive was Ripple (XRP), which remained stable at the end of the week, but had some rises in the middle of the week.
The cryptocurrency market is still capitalized in the range of $ 360 Billion Dollars.
The big issue of the week, for now, is Trump pushing for a COVID vaccine before the elections.
Technical Analysis - Bitcoin - 4 Hour Chart
Bitcoin is in a turbulent scenario because we have a pressured price and without large margins for operations.
Main support in the range of U $ 11000 - U $ 11200.
Resistance in the range of U $ 12000.
We don't see a positive horizon for Bitcoin trades.
Here we will detail more generally the scenario of the main altcoins traded at Monnos with potential for the week.
The timing is positive, with slight attention due to possible turmoil in Bitcoin.
Therefore, our view remains more conservative. To follow the market throughout the week, I recommend that you follow our work on our free telegram channel.
Initially, we are remaining conservative with altcoins this week.
In our view, the most positive on the market, Ripple remains.
Some others like ETH, BCH, WAVES, NANO can give good trades throughout the week.
Since ETH, BCH has Long Term, not short term configurations (that is, a more HOLD than trade view).
Altcoins on BTC Pair
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 on USD pair
Now we will analyze those that may bring good results, seeking to identify the best buy / sell area to carry out the operations
XRP/BTC (Potential of earns 32,90%)
XRPBTC chart 4 hours.
XRPBTC is in our support zone again, maintaining its bullish configuration according to our previous analyzes.
Resistance: 2580; 2790
Supports: 2400-2490; 2580
XRPUSDT (Potential of earns 43,34%)
XRPUSDT on the 4-hour chart - Potential of 43.34%
XRPUSDT tends to continue rising, driven by its appreciation trend in the BTC pair.
Supports: U $ 0.28 - U $ 0.30
Resistance: U $ 0.34 - U $ 0.41
Bitcoin Cash (BCH)
BCHBTC (Potential of earns 59,13%)
Technical analysis of Bitcoin Cash 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 of earns 76,28%)
Technical Analysis of Bitcoin Cash on USDT pair - 4 hours graphics – Autistic Vision
Bitcoin Cash remains bullish, above averages that represent strong support.
At the moment, we are looking at an increase, which has a potential return of up to 76.28%
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 of earns 42,13%)
Litecoin on Bitcoin pair – Technical Analysis – 1 day Graphic
Litecoin has not yet triggered a 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 USD pair – Daily Graphic – No entrance
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.
We recommend waiting for a setback for the supports
Supports: $ 54 & $ 60
Potential of Up to: U $ 83
Binance Coin (BNB)
BNBBTC (Potêntial of earns 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%.
This movement will occur after the rupture of this green rectangle, which represents an equilibrium zone.
Support in the range of: 18900-19600
Resistances: 21700; 22900; 25700
BNBUSDT (Potential of earns 20,33%)
Binance Coin Technical Analysis for Dollar - Daily Chart (BNB / USDT)
BNBUSDT has remained stable since our last analysis, respecting the support and resistance levels highlighted.
Supports: $ 21- $ 22
Resistances U $ 24; $ 26
Waves/btc (Potential of earns 35,94%)
After a strong rise, the cryptocurrency waves are consolidating above the support and can perform a new bullish movement with a potential of up to 35.94%.
Resistances: 3500; 4070
WAVESUSDT (Potential of earns 30,46%)
Waves in the dollar pair have a horizon of up to 30.46% yield ahead.
Support: $ 3.60
Resistance: U $ 4.5
NANOBTC (Potential of earns 19,77%)
Nano Technical Analysis on Bitcoin Pair - Daily Graph
Nano made positive movement and reached the movement's first target, which is the first resistance in 1130.
At the moment, it is retreating again to the support zone. The trade made in the previous week can be repeated.
Resistance 1130; 1200
NANOUSDT (Potential of earns 54,73%)
Nano Technical Analysis on the Dollar Pair - Daily Graph
Nano is defined by the horizontal supports and resistances drawn in the analysis.
Best selling point would be close to $ 1.24
Resistances at $ 1.41 & $ 1.79
Bitcoin is not in a clear scenario, which makes us recommend caution this week.
The highlighted altcoins can give good results as long as you buy as close to the support area as possible.
Ripple remains a positive highlight, with a possible short trade in Waves.
Currencies like Bitcoin Cash and Ethereum can set up good long-term bets.