Market trends bulletin- Insights 2.0 Vol. 24

Market Analysis:

Bitcoin (BTC) is currently trading at 3460 USDT (as of 28 January 2019, 12.17 IST) with a fall of 2.56% in the last 24 hours with 53% dominance. Total market capitalization is 114 Billion US Dollars. There are no major positive or negative sentiment triggers in the market at the moment.

Now let’s have a look at the technical analysis of BTC, ETH and XRP.

Bitcoin (BTC):

BTC tested and bounced two times from support zone 1 (3445–3492 USDT). As of now, it is stuck at same support zone 1 (3445–3492 USDT) and there is no bullish candle uptrend confirmation so far. If any bullish candle pattern forms then uptrend can be expected else it may break support zone 1 and test support zone 2 (3156–3249 USDT ). As support zone 1 (3445–3492 USDT) is tested 2 times already there is a high probability that it will get broken because the number of buyers decreases with each retest.

Ethereum (ETH):

ETH is currently trading at 107 USDT (as of 28 January 2019, 12.18 IST) with a fall of 3.95% in the last 24 hours. It has entered in support zone 1 (102–111 USDT). There is no bullish candle uptrend confirmation so far. If it fails to hold support zone 1 (102–111 USDT) then it can test support zone 2 (81–84 USDT). ETH’s trend partially depends on the trend of bitcoin.

XRP (XRP):

XRP is currently trading at 0.00008572 BTC (as of 28 January 2019, 12.15 IST) with a fall of 0.71% in the last 24 hours. XRP has entered in support zone 1 (0.00008514–0.00008729 BTC). There is no bullish candle uptrend confirmation so far. If it fails to hold support zone 1 (0.00008514–0.00008729 BTC) then it can test support zone 2 (0.00007615–0.00007931 BTC). XRP’s trend partially depends on the trend of bitcoin.

Stay tuned for interesting and valuable market insight nuggets next week!

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