Crypto Frontline

Weekly Crypto Analysis January 21-27, 2018

Weekly Crypto Analysis January 21-27, 2018
January 20
10:33 2019



Bitcoin analysis January 20


Although it surprised us in a positive way, the Bitcoin price managed to make a slight rebound last week and a bullish parabolic-type formation begins to unfold. If we look at the 1h chart above, we see new higher lows and higher highs, communicating that the buying pressure is much higher.

We expect the bullish momentum to continue in the following days and our upside targets are located around 3,800 and 3,950. There’s very likely the 3,680 and the 1h 200 simple moving average will act as pivoting points and support levels if the sellers will resume in the short-term.

A strong break below the MA will be needed to confirm that sellers had regained control. It’s interesting to note that the bullish sentiment emerged when the global stock markets traded higher. That’s an indication of positive risk sentiment and if it will continue, cryptocurrencies, including Bitcoin will benefit.


Ether analysis January 20



For the entire week, the Ether price had been locked in a triangle formation and thus far the breakout did not take place. The widely-expected Ethereum fork had been postponed due to security issues, which is why we believe we are not seeing the same improving sentiment as we saw with Bitcoin.

However, the direction of the breakout could be a great clue on the future direction of price. A break on the upside could spark new buying interest and open more room towards the 159-160 area, where the weakness started at the beginning of January.

On the other hand, a downside break will expose the 112 key support, followed by the 100-98 area. Keep in mind that triangle formations are very unstable, and we could see some volatile reactions. Still, we suspect the upside is more favored at the present time, and Ether will continue to edge higher in the next few days.


XRP analysis January 20


The price does not look encouraging for XRP at the present time since it could not hold above the 1h chart 200 moving average. Looking at the greater picture, we see no sign of order flow reversal, as the bulls were unable to break above the 33.5 cents resistance level.

However, sellers were not able to break below the 31.8-31.3 cents support level and until no breakout will take place below that zone, buyers will have the potential to accumulate and drive the price higher.

If they will fail, further selling pressure is expected towards the 28.3 cents support area. A break above the 33.5 cents resistance could unlock further upside potential towards the 37.6 cents resistance.

Overall, it’s a sign of weakness to see XRP is not in line with the other major cryptocurrencies which are showing some further gains could be seen in the following days.

Briefings about ICOs

In terms of active ICOs, NAi will end its fundraising campaign on January 23rd. It is a prediction market platform based on AI for the financial markets, including stocks, commodities, forex, derivatives etc.

On January 21st Dataeum will start its ICO. It is a blockchain-based platform aimed at collecting all global physical data with high accuracy, using a workforce called “collectors” rewarded with tokens for physical data submission.


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