Lately, the influx of demand for bitcoin and other cryptocurrencies have allowed the total market capitalization of cryptocurrencies to surpass the $500 billion mark. With the increase in total market cap, large cap coins have seen a breakout of its own, leading to unprecedented gains and new all time highs, namely, LTC, DASH, XMR, XRP and now ETC. Ethereum ...
After a big bull run, MONA is forming an ABC correction that should bounce off the trend line established by the previous move. RSI has also bottomed out, we are close to touching fib support and the SMMA 50 represented by the purple line. If we close below the established trend line exit the trade. Good luck.
Last week price broke below the key are of 1.27730 after breaking above it and failing as support, forming a Bear Flag in the process. Next week we look for further advances with a retest of 1.27730 providing a great place to look for shorts, down towards the targets and next key areas of support to the downside at 1.26382 and 1.25675 respectively.
Last week price broke below key support at 0.98599. With this failure of support and a weak USD, a pullback and retest of broken support turning resistance at 0.98599 would provide an opportunity to look for shorts, down towards the next two key areas of support to the downside at 0.97622 and 0.96480 respectively.
Last week price broke below key support at 0.68217 before failing to hold as resistance breaking back above this area. As a result, and with a weak USD, further advances seem likely next week with a correction (possibly even a retest of 0.68217 as support) to provide opportunities to look for longs towards key resistance at 0.69530.
UsdJpy continued to decline taking out both targets and key areas of support. A re-test of the 111.719 area of support turning resistance will be a good place for more aggressive Bears to look for Shorts. Whilst more conservative Bears may prefer a break of 111.321 first. A break of the 111.321 area of support will clear the way for a run towards 110.008.