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EOS, Bitcoin and Ripple Technical analysis

EOS Weekly analysis

In the weekly chart the price of EOS is forming a continuation candle stick pattern after a full green candle formed immediately after a period of market tussle, as shown by the cross candle. The 100 day moving average is also diverging upwards away from the 200 day moving average signaling increased bullish momentum.

Daily analysis

The daily momentum for EOS is upwards, with the 200 day moving average acting as strong support at $12. As long as the 100 day moving average is diverging upwards from the 200 moving average, the upside potential remains steady.

EOS

Hourly analysis

On the 12 hour chart, the price of EOS is on a downward trend. A long bearish engulfing candle is signaling a short term bearish move. The 100 day moving average is almost converging with the 200 day moving average on the downside. If it crosses, it could signal entry into short-term bear trend.

hourly EOS

Verdict

This EOS coin has a strong long-term upward momentum. As an investor, you can take advantage of the short-term price dips to make an entry.

Bitcoin (BTC) Weekly analysis

Bitcoin (BTC) is in bearish territory. The 100 moving average is steeped downwards towards the 200 moving average, which is a sign of increased selling pressure. Candle sticks too signal to a bearish mood, with a bearish continuation patter forming after an attempted upside was rejected.

bitcoin (BTC)

Daily analysis

In the daily chart, a bearish engulfing is forming. The price is also restricted by the 200 moving day average that acts as support at the $12300 price level, curtailing any upside potential in the short term for bitcoin.

Hourly analysis

Using candle sticks for analysis, one can see a dark cloud cover formation signaling bearish sentiment on the 12 hour chart. The 200 moving average is also about to cross the 100 day moving average which is a signal of a strong bearish sentiment.

bitcoin (BTC)hourly

Verdict

Bitcoin (BTC) is in a bearish trend right now. The best move right now would be to short it. If you looking to buy, it would be wise to wait until price enters consolidation phase and buyers start coming in.

Ripple (XRP) Weekly analysis

In the weekly chart, there is a bearish engulfing followed by a price continuation pattern as denoted by the red candle; after the green cross, signaling growing selling pressure in the market The 100 day moving average is also converging downwards, confirming the bearish trend for Ripple (XRP).

ripple (XRP) weekly

Daily analysis

In the day chart, price of XRP is in a range, after a strong bear run. The price is finding support at the $1.1 price level, with $1.5 acting as the upper ceiling. A break above $1.5 could signal the end of the downtrend. Conversely, a break below $1.1 could signal a continuation of the downtrend. The 200 and 100 moving averages too are flattening out signaling an indecisive market that is entering consolidation territory.

XRP daily

Hourly charts

In the hourly charts, Ripple (XRP) is consolidating in the $1.15 and $1.6 range. The 100 day and the 200 moving day averages are flattening while moving closely together. This is a signal of a ranging market that is primed for a breakout.

XRP hourly

Verdict

For someone looking to invest in Ripple, it would be best to wait it out until the bear run ends. Entering the market right now exposes you to a serious downside risk.

You might also like: A Fresh Look at Ripple (XRP), Plus New Potential Prospects

 


charts by Bitfinex.com


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