Weekly Crypto Price Analysis this week covers the trending cryptocurrencies; Bitcoin, Ethereum, Cardano, Polkadot, Ripple, and Binance coin BNB. The cryptocurrency markets corrected as U.S. jobs data reflected a stubbornly robust labor market, adding further confirmation to investors’ belief that the Federal Reserve will continue with its aggressive rate hikes. Market leaders Bitcoin and Ethereum are currently trading in a consolidation phase, with the latter managing to reclaim some lost ground. Meanwhile, Bitcoin climbed to the $20,400 level, but a minor pullback was seen during the weekend after a short-lived selling pressure. Ethereum also reached a weekly peak of $1,380 but has pulled back to $1,327.95, where it is currently trading.
Looking at the cryptocurrency prices heatmap, most of the altcoins are trading in bloodshed and the worst performers of the day are Reserve Rights RSI and eCash XEC, which have declined by 12.17% and 6.23%, respectively. Ripple and Stellar are the top gainers of the week among the altcoins, gaining by over 6%. Upon the closure of the week, sharp retracements towards the downside are on play across the market, resulting in a significant medium-term retracement, after which we will see markets likely push lower over the following weeks in case the prices fail to rebound.
Weekly Crypto Price Analysis: Bearish sentiment cuts across the entire crypto market
Looking at the entire cryptocurrency market, some digital assets are gaining positive momentum in the last few hours, giving some positive outlook for the following week. For instance, some price volatility and price change have been seen despite the current turmoil. The crypto sell-off on the 3rd of October saw most of the cryptocurrencies lose a large chunk of their value. The market has been struggling to gain some traction ever since.
אין די לעצטע פערטל פון די יאָר, ינוועסטערז וועלן פאָרזעצן צו פאָקוס אויף די ינפלאַציע דאַטן. קיין אָנווייַז פון ינפלאַציע טאַפּינג קען ברענגען אַ שאַרף אָפּזוך אין ריזיקירן אַסעץ, אָבער אויב ינפלאַציע בלייבט סטאַבערנלי הויך, אַ קייַלעכיק פון סעלינג-אָפס קען נאָכפאָלגן.
בטק / וסד
Bitcoin price today is $19,516.38, with a 24-hour trading volume of $24,781,059,317.04 .Bitcoin has been down by 1.24 percent in the last 24 hours. Bitcoin reached $20,400 on 04/010/2022 and since then has retraced to$19,514.9. Bitcoin’s relief rally is facing strong resistance in the zone between the 50-day simple moving average (SMA) ($20,019) and the downtrend line. This shows that bears are selling on rallies and will try to pull the price to $18,626.
די ריפּיטיד ריטעסט פון אַ שטיצן מדרגה טענדז צו וויקאַן עס. אויב טראגט זינקען די פּרייַז אונטער די שטאַרק שטיצן ביי $ 18,626, די BTC / USDT פּאָר קען זיין עדות צו פּאַניק סעלינג. דאָס קען עפענען די טירן פֿאַר אַ מעגלעך ריטעסט פון די יוני נידעריק ביי $ 17,622.
To invalidate this bearish view, the bulls will have to push and sustain the price above the downtrend line. If that happens, the bullish momentum could pick up, and the pair could rally to $22,799. The bears may pose a strong challenge at this level.
More importantly, there was a break below a key bullish trend line with support near $18,950 on the hourly chart of the BTC/USD pair. The pair even spiked below the $18,800 level and tested the next major support at $18,600. At the outset, a key bearish trend line forms with resistance near $19,950 on the same chart. If there is an upside correction, the price could struggle to climb back above the $20,000 level and the 100 hourly simple moving average. The main resistance for a sustained upward move is near the $19,900 area.
עטה / וסד
עטהערעום price movement in the last week saw ETH sink to lows of $1,280 before the market witnessed some sharp bullish momentum that pushed prices towards $1,328.73, where it has stalled in the last 24 hours.ETH is down by 0.08 after a slight bear-and-bull battle. The bears are adamant about pushing the prices beyond the current level.
After peaking at $1.380 on Thursday, the market started retracing and set a decent retracement to $1,321.75 support. However, after another attempt to move higher, the crypto price momentum shifted around $1,350 and started to lose ground rapidly over the next hours.
ETH/USD has been trading near the 20-day EMA ($1,364) since Oct. 4. The bears are defending the level, but a positive sign is that the bulls have not given up much ground. This suggests that buyers expect the recovery to extend further.
If buyers thrust the price above the 20-day EMA and the horizontal resistance at $1,410, the ETH/USDT pair could rally to the descending channel’s resistance line. This level may attract strong selling by the bears.
אויב די פּרייַז טורנס שארף אַראָפּ פון די קעגנשטעל ליניע, עס וועט פֿאָרשלאָגן אַז די פּאָר קען פאַרברייטערן זיין בלייַבן אין דעם קאַנאַל פֿאַר אַ ביסל מער טעג.
די בוליש מאָמענטום קען זיין אַרויף נאָך די בוללס פאָרויס די פּרייַז העכער דעם קאַנאַל. אַלטערנאַטיוועלי, די סעלינג קען פאַרשטאַרקן אויב טראגט זינקען די פּרייַז אונטער די שטיצן פון $ 1,220.
The technical indicators are indicating ETH is currently in a state of equilibrium as the MACD is on the verge of crossing the red signal line from above, a bullish crossover. The RSI is currently at 50, signaling the market is neither oversold nor overbought.
קסרפּ / וסד
Weekly crypto price analysis indicates Ripple has been attempting to clear the first overhead hurdle near $0.51 and retest the intraday high of $0.56 made on Sept. 23. This is the critical level to watch on the upside because a break above it could signal the resumption of the uptrend.
Strong bullish momentum is present after XRP opened the weekly chart with a huge red candlestick. Besides, the coin is now trading above the 20-day and 50-day SMAs, which is a bullish sign for the crypto.
די אַפּסלאָופּינג מאָווינג אַוורידזשיז און די RSI אין די positive טעריטאָריע אָנווייַזן אַז דער וועג פון מינדסטער קעגנשטעל איז צו די קאַפּויער. אויב בויערס שטופּן די פּרייַז העכער $ 0.56, די XRP / USDT פּאָר קען נאָך באַקומען אַ מאָמענטום און מיטינג צו $ 0.66.
On the contrary, if the price turns down from the current level or the overhead resistance at $0.56, the bears will attempt to pull the pair to the 20-day EMA. A strong rebound off this level could keep the advantage in favor of the buyers, but a break below this support could pull the pair to $0.41.
אין דער מאָמענט, די בולז פאַרטיידיקן די שליסל $ 0.50 שטיצן געגנט, און זיי זענען מסתּמא צו מאַכן אן אנדער פּרווון צו שטופּן פּרייסאַז העכער די $ 0.55 קעגנשטעל געגנט. אויב זיי זענען געראָטן, עס קען זיין אַ שאַרף פאַרגרעסערן אין בייינג דרוק, און פּרייסאַז קען אפילו צוריקקריגן די $ 0.5500 מדרגה. די הויפּט שטיצן איז איצט לעבן די $ 0.450 מדרגה, ונטער וואָס ריפּאַל ס פּרייַז קען פאַרברייטערן לאָססעס צו די לעצטע מאַך נידעריק פון $ 0.4013.
SOL / USD
Solana price analysis on the weekly crypto analysis indicates SOL has been on a falling wedge in the last 3 days. Solana fell sharply toward 31.2 but rebounded toward the weekly high of $34.50.There was a sharp increase in selling pressure above the 23.6% Fibonacci retracement level of the upward move from the $31.2 low to the $34.50 high. The price broke the key $34.00 resistance area and climbed toward the next major resistance at $35.17.Buyers are attempting to form a higher low in Solana (SOL). The price rebounded off $32.91 on Oct 3 and reached the 50-day SMA ($34.70) on Oct 4.
The 20-day EMA ($33.17) is flat, and the RSI is near the midpoint, suggesting a balance between supply and demand. If the price sustains below the moving averages, the SOL/USDT pair could decline to $31.65. If the price rebounds off the support with strength, it will suggest the range-bound action may continue for a few more days.
בויערס וועט האָבן צו שטופּן די פּרייַז העכער די אָוווערכעד קעגנשטעל ביי $ 35.50 צו ויסמעקן דעם דרך פֿאַר אַ מעגלעך מיטינג צו $ 39. אויף די אנדערע האַנט, אויב די פּרייַז סליפּס אונטער $ 31.65, די פּאָר קען יבערקוקן די וויכטיק שטיצן ביי $ 30.
ADA / וסד
Cardano price analysis based on the weekly crypto price analysis reveals ADA dropped from $0.4365.The digital asset has been in a continuous downtrend in the last 3 days as the bearishness cuts across the entire crypto market.ADA broke below the uptrend line on Sept. 30, and the bears successfully defended the level during the retest from Oct. 4–6. This suggests that bears have flipped the uptrend line into resistance.
The bears will attempt to challenge the crucial support at $0.40. If this support breaks down, the selling could pick up momentum, and the ADA/USDT pair could start the next leg of the downtrend. The pair could then decline to $0.35.
If bulls want to avoid another leg down, they will have to push the price above the moving averages quickly. If that happens, the pair could climb to the downtrend line. Buyers will have to surpass this obstacle to suggest a potential trend change.
The technical indicators are signaling that ADA might continue its upward trend as all the moving average lines are in bullish territory. The MACD indicator also shows bullish signals while the RSI line is residing at 55.0, which suggests there is still some room for gains in the near term. A break above $0.5000 could result in a rally toward the $0.5200 level, while a break below $0.4600 might result in a decline toward the $0.4400 level.
וויקלי קריפּטאָ פּרייַז אַנאַליסיס מסקנא
קוילעלדיק אונדזער וויקלי קריפּטאָ פּרייַז אַנאַליסיס ינדיקייץ אַז מיר וועלן זען קאַנסאַלאַדיישאַן אין די וואָך איידער אַן אַפּטרענד איז באַשטימט אין דער וואָך. ווי עטלעכע העכער כייז און לאָוז האָבן שוין געגרינדעט אין די הויפּט אַלטקאָינס, די קריפּטאָ פּרייַז קאַמף איז נאָך בעריש.
מקור: https://www.cryptopolitan.com/weekly-crypto-price-analysis-2022-10-08/