Analytics: XMR, XRP, MATIC, LTC, BTC, ETH

The Monero (XMR) price has been downward over the last week. Monero lost close to 10% of its market value in that period. On the one-day chart, XMR posted a 3% depreciation. The market remains sensitive as the Monero price remains in the clutches of the bears.

In just one month, XMR has moved from the $180 price range to the $160 price zone. The technical outlook for Monero suggests that the bears have taken over. Accumulation for XMR fell considerably as demand for the coin also moved south.

The buying strength of the altcoin slowly faded after it retraced from an overvalued zone that it touched at the beginning of 2023.

If demand tries to move up slightly, then XMR might see relief in price action and try moving close to its crucial resistance mark. The market capitalization of XMR fell considerably, which implied that selling strength was building up in the market.

Monero Price Analysis: One-Day Chart

XMR was trading at $162 at the time of writing. It was trading close to its immediate resistance mark of $163, which earlier acted as a crucial support line for the altcoin. A push from buyers can help XMR move above the $163 price mark, but it has to occur over the subsequent few trading sessions.

If Monero continues to trade near the current price mark, the coin will witness another price drop. A move above the $163 level can take the price to $166.

On the other hand, if demand doesn’t go north, the first fall will be at $158 and then at $154. The amount Monero traded in the last session was red, signifying a fall in buyers.

Technical Analysis

It was an excellent start to the year for the altcoin, as buyers were impressed with the gains, which pushed the price into an overbought zone. A move into that zone is often followed by a correction, which is what the altcoin is currently witnessing.

The Relative Strength Index dipped below the half-line, highlighting increased selling activity; if XMR doesn’t exceed $163, this correction will eventually lead to a downtrend.

Corresponding to lower buying strength. The XMR price fell below the 20-Simple Moving Average Line (SMA) as sellers were in charge of driving the price momentum in the market.

The other indicators have also depicted an inclination towards the bears, suggesting a further fall in value. The Moving Average Convergence Divergence indicator indicates price momentum and reversals; the indicator formed red signal bars. These signify sell signals.

The Bollinger Bands are responsible for reading price volatility and fluctuations. The bands were parallel, and the upper hand touched the $164 price mark, indicating resistance at that level. Parallel bands imply that the altcoin will move within a range.

Ripple is struggling to stay above the $0.42 resistance zone against the US Dollar. XRP price could decline heavily if there is a close below $0.38.

• Ripple is currently moving lower from the $0.42 resistance zone against the US dollar.
• The price is now trading below $0.40 and the 100 simple moving average (4-hours).
• There is a key bearish trend line forming with resistance near $0.4110 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
• The pair could decline heavily if there is a close below the $0.38 support zone.

Ripple Price Revisits Support

This past week, ripple’s XRP made another attempt to clear the $0.42 resistance against the US Dollar. The price failed to gain strength and struggled to clear $0.42. A high was formed near $0.4204 and the price started a fresh decline.

There was a move below the $0.4120 support to move into a short-term bearish zone, similar to bitcoin and ethereum. The price even tested the key $0.3860 support zone.

A low is formed near $0.3861 and xrp price is now consolidating losses. It is trading below $0.40 and the 100 simple moving average (4-hours). An immediate resistance is near the $0.4040 zone. It is close to the 50% Fib retracement level of the recent decline from the $0.4204 swing high to $0.3861 low.

The next key resistance is near the $0.412 level. There is also a key bearish trend line forming with resistance near $0.4110 on the 4-hours chart of the XRP/USD pair.

Source: XRPUSD on TradingView.com

The trend line is close to the 61.8% Fib retracement level of the recent decline from the $0.4204 swing high to $0.3861 low. A successful break above the $0.412 resistance might send the price towards the $0.420 resistance. Any more gains might send the price towards the $0.45 level.

Downside Break in XRP?

If ripple fails to clear the $0.412 resistance zone, it could continue to move down. An initial support on the downside is near the $0.3860 level.

The next major support is near $0.380. If there is a downside break and close below the $0.380 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.350 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.386, $0.380 and $0.350.

Major Resistance Levels – $0.412, $0.420 and $0.450.

Ethereum price failed again to clear the $1,700 resistance against the US Dollar. ETH is retesting the $1,600 support, below which it could accelerate lower.

• Ethereum started another decline from the $1,700 resistance zone.
• The price is now trading below $1,650 and the 100 hourly simple moving average.
• There is a connecting bearish trend line forming with resistance near $1,640 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could accelerate lower if there is a close below the $1,600 support.

Ethereum Price Revisits Key Support

Ethereum price attempted an upside break above the $1,700 level, similar to bitcoin at $23,500. ETH failed to clear the $1,700 resistance zone and started a fresh bearish wave.

There was a drop below the $1,660 and $1,650 support levels. The price even retested the key $1,600 support zone. A low is formed near $1,610 and the price is now consolidating losses. Ether price is now trading below $1,650 and the 100 hourly simple moving average.

There is also a connecting bearish trend line forming with resistance near $1,640 on the hourly chart of ETH/USD. An immediate resistance is near the $1,630 level. It is close to the 23.6% Fib retracement level of the downward move from the $1,698 swing high to $1,610 low.

The next major resistance is near the $1,640 level or the trend line or the 50% Fib retracement level of the downward move from the $1,698 swing high to $1,610 low.

Source: ETHUSD on TradingView.com

An upside break above the $1,650 resistance zone could start a fresh increase. In the stated case, the price may perhaps rise towards the $1,700 resistance. Any more gains might send ether price towards the $1,800 resistance zone.

Downside Break in ETH?

If ethereum fails to clear the $1,650 resistance, it could continue to move down. An initial support on the downside is near the $1,610 level.

The next major support is near the $1,600 zone. If there is a break below $1,600, the price might accelerate lower towards the $1,550 support. Any more losses might call for a test of the $1,530 support zone.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $1,600

Major Resistance Level – $1,650

Bitcoin price failed again and declined below $23,000. BTC is moving lower and might decline further below the $22,500 support.

• Bitcoin is moving lower from the $23,500 resistance zone.
• The price is trading below $23,000 and the 100 hourly simple moving average.
• There is a key bearish trend line forming with resistance near $22,980 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could accelerate lower if there is a close below the $22,500 support zone.

Bitcoin Price Trims Gains

Bitcoin price attempted an upside break above the $23,500 resistance zone. BTC bulls struggled to clear the $23,500 barrier. A high was formed near the $23,450 zone and the price started a bearish wave.

There was a move below the $23,200 and $23,000 levels. The decline gained pace below the $22,800 level and the 100 hourly simple moving average. The price even spiked below $22,500. A low is formed near $22,418 and the price is now consolidating losses.

Bitcoin price is trading below $23,000 and the 100 hourly simple moving average. An immediate resistance is near the $22,660 level. It is near the 23.6% Fib retracement level of the recent decline from the $23,450 swing high to $22,418 low.

The next major resistance is near the $23,000 zone. There is also a key bearish trend line forming with resistance near $22,980 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

The trend line is near the 50% Fib retracement level of the recent decline from the $23,450 swing high to $22,418 low. A clear move above the $23,000 resistance might start a decent increase. In the stated case, the price may perhaps rise towards the $23,500 level. The next resistance could be near the $23,650 level, above which btc price might rise towards the $24,250 resistance zone.

More Losses in BTC?

If bitcoin price fails to clear the $23,000 resistance, it could continue to move down. An immediate support on the downside is near the $22,500 zone.

A close below the $22,500 support might spark bearish moves. The next major support is near the $22,200 zone. A downside break below the $22,200 zone might send the price towards the $21,500 zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $22,500, followed by $22,200.

Major Resistance Levels – $23,000, $23,500 and $23,650.

MATIC price started a fresh increase from the $1.10 support zone. Polygon bulls are in control and might push the price towards the $1.40 level.

• MATIC price started a fresh rally above the $1.10 resistance against the US dollar.
• The price is trading above $1.10 and the 100 simple moving average (4-hours).
• There is a key bullish trend line forming with support near $1.25 on the 4-hours chart of the MATIC/USD pair (data source from Kraken).
• The pair could continue to rise towards the $1.35 and $1.42 resistance levels.

Polygon’s MATIC Price Surges Above $1.20

In the past few days, polygon’s price formed a strong base above the $1.00 zone.  MATIC remained stable and started a fresh increase above the $1.10 resistance zone.

There was a strong move above the $1.15 level and the 100 simple moving average (4-hours). The upward move was such that the price even broke the $1.25 level and traded to a new yearly high at $1.295. It is up over 5% in a day and over 15% in a few days, outperforming bitcoin and ethereum.

Matic price is trading above $1.10 and the 100 simple moving average (4-hours). There is also a key bullish trend line forming with support near $1.25 on the 4-hours chart of the MATIC/USD pair.

The price is comfortably trading above the 23.6% Fib retracement level of the upward move from the $1.167 swing low to $1.295 high. On the upside, an immediate resistance is near the $1.30 level. The first major resistance is forming near the $1.35 zone.

Source: MATICUSD on TradingView.com

If there is an upside break above the $1.35 resistance level, the price could start another strong increase. In the stated case, the price could rise steadily towards the $1.42 level or even $1.50.

Dips Supported in MATIC?

If MATIC price fails to rise above the $1.30 and $1.35 resistance levels, it could start a downside correction. An immediate support on the downside is near the $1.265 level.

The main support is near the $1.25 level or trend line. A downside break below the $1.250 level could open the doors for a fresh decline towards $1.215 or the 61.8% Fib retracement level of the upward move from the $1.167 swing low to $1.295 high. The next major support is near the $1.18 level.

Technical Indicators

4-hours MACD – The MACD for MATIC/USD is gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for MATIC/USD is now above the 50 level.

Major Support Levels – $1.25 and $1.215.

Major Resistance Levels – $1.30, $1.35 and $1.42.

Ethereum started a fresh increase and retested $1,700 against the US Dollar. ETH is showing positive signs and might rise further towards the $1,800 zone.

• Ethereum gained pace and was able to clear the $1,660 resistance zone.
• The price is now trading above $1,660 and the 100 hourly simple moving average.
• There was a break above a key bearish trend line with resistance near $1,640 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could rise further if there is a clear move above the $1,700 resistance.

Ethereum Price Reverses Losses

Ethereum price remained well bid above the $1,600 support, similar to bitcoin at $22,500. ETH formed a base above the $1,620 level and recently started a steady increase.

There was a clear move above the $1,650 and $1,660 resistance levels. Besides, there was a break above a key bearish trend line with resistance near $1,640 on the hourly chart of ETH/USD. The pair even retested the $1,700 resistance and formed a high at $1,698 before there was a minor decline.

Ether price is now trading above $1,660 and the 100 hourly simple moving average. It is trading near the 23.6% Fib retracement level of the upward move from the $1,624 swing low to $1,698 high.

Source: ETHUSD on TradingView.com

An immediate resistance is near the $1,690 level. The next major resistance is near the $1,700 level. An upside break above the $1,700 resistance zone could spark a fresh increase. In the stated case, the price may perhaps rise towards the $1,750 resistance. Any more gains might send ether price towards the $1,820 resistance zone.

Dips Supported in ETH?

If ethereum fails to clear the $1,700 resistance, it could start another downside correction. An initial support on the downside is near the $1,660 level.

The next major support is near the $1,650 zone or the 61.8% Fib retracement level of the upward move from the $1,624 swing low to $1,698 high. If there is a break below $1,650, the price might accelerate lower towards the $1,620 support. Any more losses might call for a test of the $1,600 support zone.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $1,650

Major Resistance Level – $1,700

Bitcoin price is rising and trading above $23,000. BTC could gain bullish momentum if there is a clear move above the $23,500 resistance zone.

• Bitcoin is correcting losses and trading above the $23,000 support zone.
• The price is trading above $23,000 and the 100 hourly simple moving average.
• There was a break above a crucial bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could rise further and move into a bullish zone if it clears the $23,500 resistance.

Bitcoin Price Forms Decent Support

Bitcoin price remained well bid above the $22,500 support. A base was formed above $22,500 and BTC started a decent recovery wave. There was a clear move above the $22,800 and $23,000 resistance levels.

There was also a break above a crucial bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair. The pair climbed above the 23.6% Fib retracement level of the key decline from the $24,282 swing high to $22,599 low.

Bitcoin price is trading above $23,000 and the 100 hourly simple moving average. An immediate resistance is near the $23,450 zone. It is near the 50% Fib retracement level of the key decline from the $24,282 swing high to $22,599 low.

Source: BTCUSD on TradingView.com

The next major resistance is near the $23,500 zone. A clear move above the $23,500 resistance might start a steady increase. In the stated case, the price may perhaps jump towards the $24,000 level. The next resistance could be near the $24,250 level, above which btc price might rise towards the $25,000 resistance zone.

Dips Supported in BTC?

If bitcoin price fails to clear the $23,500 resistance, it could start another downside correction. An immediate support on the downside is near the $23,000 zone and the 100 hourly simple moving average.

The next major support is near the $22,800 zone. A downside break below the $22,800 zone might send the price towards the $22,600 zone. Any more losses might call for a test of the $22,500 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $23,000, followed by $22,800.

Major Resistance Levels – $23,450, $23,500 and $24,000.

Litecoin price is showing positive signs above the $90 zone against the US Dollar. LTC is rising and might attempt a fresh rally above the $100 resistance.

• Litecoin started a fresh increase above the $92 zone against the US Dollar.
• The price is now trading above $92 and the 100 simple moving average (4-hours).
• There is a major bullish trend line forming with support near $94.40 on the 4-hours chart of the LTC/USD pair (data feed from Kraken).
• The price could start another surge if there is a clear move above the $100 resistance.

Litecoin Price Outpaces Bitcoin

This past week, litecoin price formed a support base above the $88 level against the US Dollar. LTC price started a steady increase above the $92 resistance zone, similar to bitcoin and ethereum.

The bulls were able to push the price above the $100 resistance. A new yearly high was formed near $102.38 before there was a downside correction. There was a move below the $100 level. The price declined below the 23.6% Fib retracement level of the upward move from the $88.38 swing low to $102.38 high.

Litecoin price is now trading above $92 and the 100 simple moving average (4-hours). There is also a major bullish trend line forming with support near $94.40 on the 4-hours chart of the LTC/USD pair.

Source: LTCUSD on TradingView.com

On the upside, an immediate resistance is near the $100 zone. The next major resistance is near the $102.50 level. If there is a clear break above the $102.50 resistance, the price could start a strong increase. In the stated case, the price is likely to continue higher towards the $112 and $115 levels. Any more gains might send ltc price towards the $120 resistance zone.

Dips Supported in LTC?

If Litecoin price fails to clear the $102.50 resistance level, there could be another downside correction. An initial support on the downside is near the $96.00 level.

The first major support is forming near the $95 level or the 50% Fib retracement level of the upward move from the $88.38 swing low to $102.38 high or the trend line. Any further losses may perhaps send the price towards the $88 support.

Technical indicators:

4-hours MACD – The MACD is now gaining pace in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LTC/USD is above the 50 level.

Major Support Levels – $96.00 followed by $94.20.

Major Resistance Levels – $100.00 and $102.50.

Ethereum corrected lower and tested $1,600 against the US Dollar. ETH is holding the $1,610 support and might attempt a fresh increase.

• Ethereum corrected lower, but the bulls are active near the $1,600 zone.
• The price is now trading below $1,640 and the 100 hourly simple moving average.
• There is a major bearish trend line forming with resistance near $1,640 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start another increase if it stays above the $1,600 support zone.

Ethereum Price Eyes Fresh Increase

Ethereum price started a downside correction below the $1,660 support, similar to bitcoin. ETH extended its decline below the $1,620 level, but the bulls were active near the $1,600 zone.

The bears made two attempts to push the price below $1,600, but they failed. A low is formed near $1,605 and the price is now recovering losses. It cleared the $1,620 level. There was a move above the 50% Fib retracement level of the recent decline from the $1,657 swing high to $1,605 low.

Ether price is now trading below $1,640 and the 100 hourly simple moving average. An immediate resistance is near the $1,640 level and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $1,640 on the hourly chart of ETH/USD.

The trend line is close to the 61.8% Fib retracement level of the recent decline from the $1,657 swing high to $1,605 lo. The next major resistance is near the $1,655 level. An upside break above the $1,655 resistance zone could spark a fresh increase.

Source: ETHUSD on TradingView.com

In the stated case, the price may perhaps rise towards the $1,700 resistance. Any more gains might send ether price towards the $1,780 resistance zone.

Downside Break in ETH?

If ethereum fails to clear the $1,640 resistance, it could continue to move down. An initial support on the downside is near the $1,620 level.

The next major support is near the $1,600 zone. If there is a break below $1,600, the price might accelerate lower towards the $1,565 support. Any more losses might call for a test of the $1,530 support.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now near the 50 level.

Major Support Level – $1,600

Major Resistance Level – $1,640

Bitcoin price is correcting gains and tested the $22,600 zone. BTC could start a fresh increase if it manages to stay above the $22,500 support.

• Bitcoin is correcting gains below the $23,000 support zone.
• The price is trading below $23,100 and the 100 hourly simple moving average.
• There is a major bearish trend line forming with resistance near $23,050 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start a fresh increase if the bulls are able to protect the $22,500 support.

Bitcoin Price Visits Key Support

Bitcoin price started a downside correction below the $23,250 support zone. BTC followed a steady bearish path and even declined below the $22,800 level.

It tested the $22,600 support zone. A low is formed near $22,599 and the price is now consolidating losses. It slowly moved above the 23.6% Fib retracement level of the recent drop from the $23,590 swing high to $22,599 low.

Bitcoin price is trading below $23,100 and the 100 hourly simple moving average. An immediate resistance is near the $23,050 zone. There is also a major bearish trend line forming with resistance near $23,050 on the hourly chart of the BTC/USD pair.

The trend line is close to the 50% Fib retracement level of the recent drop from the $23,590 swing high to $22,599 low. The next major resistance is near the $23,220 zone and the 100 hourly simple moving average.

Source: BTCUSD on TradingView.com

A clear move above the $23,220 resistance might start a steady increase. In the stated case, the price may perhaps rise towards the $23,500 level. The next resistance could be near the $24,000 level, above which btc price might gain bullish momentum.

More Losses in BTC?

If bitcoin price fails to clear the $23,220 resistance, it could continue to move down. An immediate support on the downside is near the $22,600 zone.

The next major support is near the $22,500 zone. A downside break below the $22,500 zone might spark a move towards the $22,200 level. Any more losses might send the price to $21,500 in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $22,600, followed by $22,500.

Major Resistance Levels – $23,050, $23,200 and $23,500.

2023-02-10 04:42