Gekkoin crypto analitics review 18.09.2020
General fundamental background
There have been no significant changes in the list of fundamental market aspects over the past week. Crypto investors keep focusing on the DeFi sector and its biggest tokens, actively listed by the major crypto exchanges such as Binance. It’s obvious that until the end of 2020, the sector will set the entire crypto market tone, while the price dynamics of the leading DeFi tokens will influence the main cryptocurrencies and altcoins.
At the moment, the crypto assets prices are moving mostly with neutral dynamics, without significant growth or fall. Largely due to the lack of fresh liquidity in the market. Retail and institutional investors await for clear signs from BTC for further growth or decline. I believe as soon as BTC returns to its highs at the $12 000 area, or corrects below $10 000 market volatility will rise again.
Technical market view
The BTC rate is gradually growing towards the trend line, which can appear to be a resistance. After reaching the $11 500 level, I expect the BTC rate to drop to the $10 500 level. Generally, the asset keeps neutral dynamics.
The ETH token keeps positive dynamics and within the uptrend may reach the level of $430 in the next few days. Alike as the last week, the further price change will depend on the entire market dynamics and BTC and the DeFi sector primarily.
The XMR uptrend is strong enough still, there are no signals of an imminent correction yet, so the Monero rate may retest the resistance at the $100 level in the coming days.
Victor Pershikov, MFTA
Lead analyst of 8848 Invest