Analysis of rates of major cryptocurrency on January 9, 2018

The week after the Christmas holiday is not forced traders to unwind. The focus was here, and ether, they have brought a significant proportion of the growth in the market capitalization of cryptocurrencies. As for Orthodox Christmas, on this day live showed another wave of growth and thus overcome the milestone of $ 1,000 per coin. Note that the second capitalization of the cryptocurrency showed a weekly growth of 42.40% and was the leader among others.

With regard to the capitalization of last week (31.12.17 – 07.01.18), the undisputed leader of the left bitcoin, his mark remained at the level of $280 billion, close to $300 billion. Second place went to ripple c a market capitalization of $130 billion, which lost this place only on Tuesday. Closes the top-3 on the growth of the market value of the ether with the $108.46 billion, also on Tuesday returned to second place.

If we consider the background postnovogodny period, to strengthen ripple’s and ether contributed news. In the network appeared rumors and unconfirmed reports that ripple will support one of the largest cryptocurrency platforms, Coinbase, making a weekly rise of XRP, heated over a month with promises of future implementation of the network Rpple major banks amounted to more than 19%. But then the situation changed radically when it became known that the official Coinbase has denied this information. Ripple corrected, overcoming a 2.35 – 2.40 dollar.

The air looks more interesting from the point of view of a news background, in the beginning of the month the developers said about testing the long-awaited community technology Casper. Note that this technology was created to ensure the operation mechanism of consensus Proof-of-Stake, and the first step will be the transition to hybrid mining.

BTC/USD D1: correction continues

Bitcoin on the daily timeframe established in the range 17245 – 13805 dollars. Correction within waves A-B-C continues to be formed after an unsuccessful attempt to force the district $17 245. This suggests that market participants can still sell until $11 000 and even $10,000, since, from the point of view of the Elliott wave theory, the focus may still be the development of wave C.

Besides, the price rebounded from the resistance line of the downward trend, from the point of view of technical analysis is regarded as a sell signal. Therefore, based on the “technical picture”, soon you can expect another achievement in support of district 13 805 dollars.

If we consider the Fibonacci levels, to keep bitcoin from speculative sales support in the region of $10 957 — this level coincides with the level of Fibo 1.618.

ETH/USD D1: $1000 passed, ahead $1500

Live confidently overcame the previous high at $815 and left behind subloop corrective A-B-C. At the moment, you can see a new wave of growth and it is likely that the schedule of prices may consolidate in a higher trading part 1400 – $ 1100. Terms of Elliott waves, is the development of a pulse of the third wave. For those investors who hold the asset for the long term, it is a good signal. But, from the perspective of speculative trading, live locally overbought so we can expect a slight decrease, but not below support near the $ 1,100. In addition, this support coincides with the 2.618 Fibonacci level.

XRP/USD H4: the output of trend

Ripple has shown out of the framework of the uptrend. At the moment the schedule XRP are entrenched in the commercial part of the 2.42 – 1.88 dollars, which is a negative signal.

Terms of Elliott waves, one can see the development in the correction A-B-C, so sales may increase. The first objective, where the graph may be reached in the event of a steady decline, this area of 1.88 and 1.60 dollar.

In the case of the positive scenario (correction against the decline) might be testing the resistance around $2.42.

LTC/USD D1: again repeats

Litecoin confidently turned down from resistance at $ 280. In addition, you can see the continuation of the corrective formation A-B-C, we see a repetition of the situation with bitcoin. At the moment there is a development of wave C in the direction of the downward trend.

Inhibits the price chart support around $238. The breakout of this level down will open the prospect of consolidation in the lower commercial part 238 – $ 200.

It is important to note that price support levels coincide with the Fibonacci 0.382 and 0.5.

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