Saturday , December 3 2022
Home / CryptoVizArt

CryptoVizArt



Articles by CryptoVizArt

XRP Outperforms BTC in November, Here Are the Levels to Watch (Ripple Price Analysis)

3 days ago

Ripple’s monthly candlestick appears to be closing in the red tonight, despite the fact that the long lower wick implies the presence of buyers around $0.3. However, the cryptocurrency’s performance in the past month has actually been stronger than Bitcoin’s.
Technical Analysis
By Grizzly
The Weekly Chart
The weekly chart reveals that the downward trend initiated in April 2021 is continuing. The pair has made multiple attempts to break through the descending resistance line (in red) but has been stalled each time.
The 14-week RSI, on the other hand, has moved away from the oversold zone and is approaching the middle line. The primary impediment to gaining momentum in the bullish zone with this indicator is the diagonal resistance (in yellow).
If XRP can break through the

Read More »

Positive Signs Flash for Bitcoin But This Level is a Major Obstacle (BTC Price Analysis)

6 days ago

Bitcoin’s price action has rebounded significantly while testing key support levels. The next few days could determine whether the market would start a mid-term recovery or the gruesome downtrend would still continue.
Technical Analysis
By: Edris
The Daily Chart:
Looking at the daily chart, the correction has been halted over the last couple of weeks above the $16K support level.
Regardless, bullish momentum is still lacking, and the price has failed to retest the $18K level. Interestingly, a wide descending channel, considered a bullish reversal pattern, seems to be forming in this timeframe. So, a breakout from the higher boundary of the pattern could signal the beginning of a mid-term bullish trend and potentially the end of the bear market.
However, the mentioned $18K

Read More »

XRP on the Verge of Closing a Second Green Weekly Candle, What’s Next? (Ripple Price Analysis)

7 days ago

Ripple is on the verge of closing its second green weekly candle. However, there is a horizontal obstacle on the way to higher levels, which will be discussed further below.
Technical Analysis
By Grizzly
The Daily Chart:
XRP managed to recapture the 200-day moving average line (in white) on the daily chart after struggling since mid-November. Technically, this pattern denotes a positive psychological momentum in the market.Although the bullish sentiment is observable on the chart, the horizontal resistance in the $0.42 to $0.43 region (in red) should be regarded as a strong obstacle. After the May collapse, XRP remained below this level for a few months.
Suppose that the asset will overcome this obstacle. In this case, an upward trend with a target of $0.55 is likely. This

Read More »

ETH Paints a Lower Low as a Retest of $1,000 Looking More Likely (Ethereum Price Analysis)

7 days ago

Unlike Bitcoin and many other crypto assets, Ethereum is forming a new low while testing a significant resistance level. ETH should be monitored closely, as the price action in the next few days could provide useful hints for the mid-term market trend.
Technical Analysis
By: Edris
The Daily Chart:
Looking at the daily chart, the price is still trapped between $1250 and $1000 levels but could soon break out. The $1250 resistance level is currently being tested, and if broken to the upside, the 50-day and 200-day moving averages, located around $1300 and $1500 levels, respectively, would be targeted next.
However, as long as the price remains below the 200-day moving average, ETH would technically be considered in a bear market. Therefore any rejection from either of the

Read More »

Ethereum Avoids a Lower Low, But is the Worst Over? (ETH Price Analysis)

15 days ago

Ethereum’s resilience has been one of the significant talking points during the recent market crash as opposed to Bitcoin, ETH’s price has not created a new lower low. However, more downside could be expected if the price fails to break a key resistance level.
Technical Analysis
Technical Analysis By: Edris
The Daily Chart:
On the daily chart, the cryptocurrency has been retesting the $1300 resistance level over the past few days after dropping below it earlier during the FTX-related crash. These efforts, however, have led to no positive result as the level is still holding strong and pushing the price lower.
In case of a significant bearish rejection, a continuation toward the $1000 support level would be expected. This would be the bulls’ last resort to stop ETH from

Read More »

Did Bitcoin Bottom or Is Another Drop to $15K in Play? (BTC Price Analysis)

15 days ago

It’s clear that the market remains fearful of potential contagion from the FTX fallout. As a result, market participants are offloading their assets from the exchanges, which might trigger the last phase of this bearish cycle’s capitulation.
Technical Analysis
By Shayan
The Daily Chart
The market has likely entered a new phase of short to mid-term consolidation as the price dropped significantly. Nevertheless, during the consolidation phase, the price might retest the $18K-$19K region and then continue the bearish toward the $15K level.
On the other hand, the 100-day moving average, standing at $19K, also aligns with the broken trendline, making this static level a powerful resistance. Hence, a consolidation toward the 100-day moving average and the broken trendline at the

Read More »

Ripple Closes Second-Worst Weekly Candle Since May, What’s Next? (XRP Price Analysis)

19 days ago

A very disheartening week in the crypto market has come to a close. Ripple saw its second-worst weekly candle since May and dropped more than a third of its market value over the last week.
Technical Analysis
By Grizzly
The Daily Chart
On the daily chart, the negative momentum slowed marginally as the asset approached the support zone in the $0.3 to $0.33 region (in green). However, this cannot be considered the end of the downward spiral.
After 50 days, XRP hit the descending line (in yellow), which now serves as support. If the pair closes below this level, the price is anticipated to fall to around $0.24- something it has not seen since January 2021. Until the price can reclaim resistance at $0.42 (in red), it is premature to talk about the end of the downtrend.
A break

Read More »

ETH Attempts a Recovery But is Another Drop to $1,000 In Play? (Ethereum Price Analysis)

19 days ago

Ethereum is showing signs of recovery after the recent crypto market crash. However, it may be too soon to call for a bottom, as the price is facing significant resistance levels, which need to get broken before expecting any bullish scenarios.
Technical Analysis
By: Edris
The Daily Chart
On the daily chart, the price’s free fall has come to a halt. ETH is currently trying to reclaim the $1250 support area, which was impulsively broken to the downside last week.
In the event of a successful recovery, the 50-day moving average would be the next obstacle before the 200-day moving average, which technically initiated the recent drop by rejecting the price to the downside.
However, the market structure cannot be considered bullish until a breakout above the $2000 static

Read More »

Was This Capitulation or More Pain Ahead for BTC Following the FTX Bankruptcy? (Bitcoin Price Analysis)

20 days ago

Market participants are going through a period of fear and uncertainty as the FTX exchange has recently announced bankruptcy after facing a massive liquidity crunch. As a result, Bitcoin plunged and marked a new low at $15.5K.
Technical Analysis
By Shayan
The Daily Chart
The $18K level had been supporting the price for several months. However, Bitcoin was recently rejected and experienced a massive shakeout, plunging beneath it following massive bearish momentum.
The market has likely entered a new consolidation range as the price dropped significantly. Nevertheless, during this phase, the price might retest the $18K level and the broken trendline in the form of a pullback and then continue the bearish trend toward the $15K level.
Source: TradingViewThe 4-Hour Chart

Read More »

Worrying Signs for BTC But is a Drop Below $20K in Play? (Bitcoin Price Analysis)

26 days ago

Bitcoin has finally surpassed the 100-day moving average, which has been the most powerful resistance to the price for the last five months. After a short-term period of consolidation, the cryptocurrency went through another spike, returning the bullish sentiment to the market.
However, Bitcoin is soon to confirm a bullish trend reversal as the price has reached a significant resistance region and marked multiple bearish signs in lower timeframes.
Technical Analysis
By Shayan
The Daily Chart
The price was repeatedly rejected from the 100-day moving average for several months until the significant resistance level was surpassed, and the $21.7K barrier was reached.
Bitcoin is currently retesting the moving average by forming a pullback. In the event of a successful pullback,

Read More »

Bitcoin Price Analysis: After Spiking to 7-Week High, Can BTC Target $24K Next?

27 days ago

After recording its highest daily close since September, breaking above the 100-day moving average line, Bitcoin’s price eyes higher targets.
Technical Analysis
Technical Analysis By: Edris
The Daily Chart
On the daily timeframe, the price just broke above the 100-day moving average resistance line after multiple rejections during the last couple of weeks. this is the first time it succeeds since September, and if the price holds another day above it – it will become the longest period since April.
In the event of a bullish daily close above said moving average, the breakout would then be considered valid. The next targets for Bitcoin are the $24K resistance level and the 200-day moving average located nearby.
From a traditional technical analysis perspective, a bullish

Read More »

Recent Rally: Bull Trap or Start of a Bull Wave for BTC? (Bitcoin Price Analysis)

November 3, 2022

Bitcoin’s short-term price action is still hanging in the balance, as it is currently consolidating in a key area. The next few days could determine whether the recent rally was really the beginning of a new bull market or just another bull trap.
Technical Analysis
By: Edris
The Daily Chart
On the daily timeframe, after breaking above the long-term bearish trendline and retesting both the trendline and $18K, the price has been trapped between two significant dynamic levels; the 50-day and 100-day moving average lines, located around $20K and $21K.
The cryptocurrency has been consolidating in this range since breaking the 50-day moving average to the upside but is yet to close above the 100-day MA.
A bullish breakout could lead to a rally toward the 200-day MA and the $24K

Read More »

XRP On the Verge of Major Test, Volatility Inbound? (Ripple Price Analysis)

November 2, 2022

Ripple has been experiencing a short-term stage of consolidation following low volatility. The cryptocurrency has formed a well-known bearish flag pattern and has dropped to the middle boundary. This is an important price region, and the upcoming price action will likely determine its mid-term direction.
Technical Analysis
By Shayan
The Daily Chart
The cryptocurrency was recently rejected by the upper trendline of the bearish flag pattern and dropped to the middle boundary. This level nearly aligns with strong short-term support at $0.45.
If the price drops below both the boundary and the $0.45 support level, a plummet toward the channel’s lower trendline will be inevitable. Contrarily, if XRP successfully surpasses the multi-month descending trendline, a rally toward the

Read More »

ETH Slows Down Ahead of FOMC Meeting, What’s Next? (Ethereum Price Analysis)

November 2, 2022

Ethereum experienced a considerable increase in the final days of October, resulting in a green monthly candle. To continue this growth, the cryptocurrency must retain $1,500 as support.
Technical Analysis
By Grizzly
The Daily Chart
After 40 days, the price of ETH officially surpassed $1,500 towards the end of October. Since then, the cryptocurrency has slowed down after hitting the resistance zone of $1650-$1700 (in red).
With the test of this resistance and the approaching FOMC meeting, it appears that some traders have opted to close their long positions. As a result, the bullish momentum has weakened slightly.
If Ethereum can establish $1,500 as support and does not close below this crucial mark, it could retest $1,700, which overlaps the 200-day moving average.

Read More »

Bitcoin’s Rally Halted at $21K, This Level Must Hold to Prevent Another Bearish Move (BTC Price Analysis)

November 1, 2022

Bitcoin is struggling to continue the recent rally, as the price has been retracing over the last few days. However, considering the significant support levels available, the short-term future is still looking bright for the bulls.
Technical Analysis
Technical Analysis By: Edris
The Daily Chart:
Looking at the daily timeframe, the last week’s rally has come to a halt, as the price is yet to break above the $21K mark. The 100-day moving average is currently acting as an obstacle, rejecting the price to the downside. Thus, a short-term correction has seemingly begun over the last couple of days, and the price may retest the 50-day moving average, located around the $19,500 level, which would be considered a significant dynamic support level.
In case of a pullback to the

Read More »

Bitcoin Price Analysis: The Danger is Not Over Yet, Despite BTC’s 6-Week High

October 30, 2022

After getting rejected by the mid-term descending trendline for several months, Bitcoin finally broke above this obstacle and now attempting to surpass the 100-day moving average line.
However, the momentum hasn’t turned bullish yet, whereas BTC had formed a bearish reversal pattern in the lower timeframes. As of yet, there is no sign of a trend reversal in the price action.
Technical Analysis
By Shayan
The Daily Chart
Bitcoin has formed a bearish triangle pattern and found support at the lower boundary near the $18K range until it recently broke above the triangle.
Typically, a breakout from the upper edge of a bearish triangle is considered a bullish signal for the price. However, the market conditions are slightly different now, with some significant resistance levels

Read More »

ETH Soars Above $1600 but is a Correction Coming? (Ethereum Price Analysis)

October 29, 2022

Following the recent recovery of Bitcoin, Ethereum’s price seems to be following suit and is now showing strength after months of bearish price action. The market is breaking above key levels one by one. Is the momentum going to continue?
Technical Analysis
By: Edris
The Daily Chart
On the daily timeframe, the price has broken the descending channel pattern to the upside after a rebound from the $1250 support level. The significant bearish trendline is also being tested at the moment, and the price seems to be breaking this to the upside as well.
From a classical price action standpoint, the market should easily reach the $2000 resistance level, as there is little to stand in its way. However, when analyzing the 200-day moving average, currently located around the $1700

Read More »

Here’s The Next Target for BTC if $21K Falls (Bitcoin Price Analysis)

October 27, 2022

Bitcoin’s bullish momentum is strong over the past couple of days, as the price has broken another significant dynamic resistance level to the upside. However, there is still work to do in order for the trend to be considered positive.
Technical Analysis
By: Edris
The Daily Chart
On the daily timeframe, the price has finally broken above the 50-day moving average after rebounding from the $18K support level. The broken bearish trendline has also acted as support, pushing BTC higher after multiple retests.
Currently, the price is wrestling with the 100-day moving average, and if a bullish breakout occurs, little could stand in the way of a price rally toward the $24K resistance level.
The market would need to push back above the $24K level and the 200-day moving average,

Read More »

ETH Open Interest Ramps Up: Volatility Incoming? (Ethereum Price Analysis)

October 25, 2022

Ethereum’s price has been oscillating in a very compressed range between $1200 and $1400, showing minimum momentum to initiate a move to either side. However, the cryptocurrency is approaching significant dynamic levels, and the market is potentially close to showing its hand.
Technical Analysis
By: Edris
The Daily Chart
On the daily chart, the price has been forming a large descending channel over the past few months, which has yet to be broken to either side.
These channels could be considered large bullish flags, and a breakout to the upside could begin a new bullish phase. As a result, the price could rally toward the $2000 resistance area.
The 50-day moving average, currently located around $1400, could be the first obstacle that the price should break above in order

Read More »

XRP Crashes 17% in 10 Days but is the Worst Yet to Come? (Ripple Price Analysis)

October 19, 2022

Ripple is currently in a correction following the recent positive price action. At the time of writing, XRP has lost around 17% of its value in the last ten days after failing to break above a long-lasting resistance level.
Technical Analysis
By Grizzly
The Daily Chart
XRP began its decline after failing to break through the overhead resistance zone at $0.5-$0.55 (in red) in two separate attempts. As a result, the bullish momentum faded, leading the pair into a symmetrical triangle structure (in white).
If the asset retests the horizontal support level of $0.42 (in green), it will come into contact with the 200-day moving average (in yellow). If the price slips below these critical levels, the reversal of the upward trend will be confirmed, placing the next support at

Read More »

Ethereum Needs to Break Above This Level for a Bullish Rally (ETH Price Analysis)

October 19, 2022

Over the course of the last month, Ethereum has adopted a sinusoidal pattern. Sellers defended the $1,400, while buyers were protecting $1,200 strongly. After reaching a peak at $2030 on August 23, the overall structure remains negative.
Technical Analysis
By Grizzly
The Daily Chart
The price is moving in a narrow range on the daily chart against the US dollar, resulting in minimal change in the overall trend. Furthermore, on a larger scale, the pair is clearly declining in a falling wedge (in yellow). Technically, this pattern is often considered bullish, provided that the price breaks out of the ceiling.
Currently, the top of the wedge is between $1,400 and $1,420. If the cryptocurrency breaks above this level, a new green wave with the first target of $1,650 could be

Read More »

BTC Rejected at $20K, is $18,000 the Next Target for Bears? (Bitcoin Price Analysis)

October 19, 2022

Bitcoin’s price continues to trade sideways as no big movements in either direction have taken place. As of this writing, the $18K and $20K levels are yet to be broken.
Technical Analysis
By: Edris
The Daily Chart
On the daily timeframe, the price recently retested the broken, bearish trendline and the $18K support level. These levels provided enough support to prevent another dip toward lower prices. However, the 50-day moving average located at around $19K is persisting as a strong obstacle and is putting the brakes on a potential rally toward the $24K area.
The 100-day moving average can also be considered a significant dynamic resistance that could reject the price in case of a bullish breakout from the 50-day MA. Right now, a positive trend cannot be anticipated

Read More »

Bitcoin Price Analysis: BTC Forms Huge Wedge Pattern, Will it Trigger The Next Rally or Crash?

October 16, 2022

Bitcoin’s price has been trapped inside a consolidation range between $18K and $25K for months already, and is trading sideways with extremely low volatility. However, the primary cryptocurrency is now closer to the lower boundary of the range around $18K, and if this level breaks, we can expect new yearly lows.
Technical Analysis
By Shayan
The Daily Chart
The following chart indicates that the market suffers from insufficient activity and a lack of demand. As a result, the price action has been minor, with low volatility, making it difficult to trade.
From the bullish side, BTC is trapped under two critical resistance lines: the 50-day moving average at the $19.6K level and the 100-day moving average around $21K. Bitcoin must break above these crucial levels with

Read More »

Despite the Recent Drop, is XRP Headed to $0.55 Again? (Ripple Price Analysis)

October 15, 2022

Ripple has bounced from its recent sharp decline, perhaps indicating that buyers are still controlling the market. This structure has provided another opportunity to retest the overhead resistance.
Technical Analysis
By Grizzly
The Daily Chart:
Although Ripple has not succeeded in its repeated attempts to break the resistance zone (in red), the positive momentum is still apparent in the market. The emergence of higher lows in the lower timeframe signals greater buyer strength.
To extend its upward trend, XRP must overcome two obstacles: the descending resistance line (in white) and the resistance zone in the $0.5 to $0.55 range. The intersection of these two signifies the magnitude of the required demand to break above this range.
If XRP overcomes this barrier, it will

Read More »

ETH Dips Below $1,200 and Recovers Amid Massive Recent Volatility, What’s Next? (ETH Price Analysis)

October 15, 2022

After a lengthy period of defending the $1200, Ethereum momentarily fell below this level, followed by a quick recovery to $1,343. This price action highlights the significance of demand below the $1200 support level.
Technical Analysis
By Grizzly
The Daily Chart:
At the time of writing, the market has recovered from the volatility caused by the recently announced CPI numbers for September. Ethereum has returned to the 200-week moving average (in white). Considering the 61.8% Fib level at $1,210 (in yellow), it’s expected that this level will be critical to defend.
In a bearish scenario, if ETH drops below $1,200 again, the probability of continuing the correction increases accordingly. The longer the market struggles with this level, the more buy orders will be filled,

Read More »

Bitcoin Dips to $18K on CPI Data, Here Are The Targets if Selling Continues (BTC Price Analysis)

October 13, 2022

Today, BTC went through some massive volatility. Accordingly, the trading volume on Binance increased exponentially. The price is struggling to hold above the $18K level, and the potential for further correction is causing fear across the market.
Technical Analysis
By Grizzly
The Daily Chart:
On the daily chart, Bitcoin is trading slightly above $18K, one of the lowest levels since the market crash in June. Throughout this period, this crucial level (in yellow) has been significant support, preventing Bitcoin from plunging further.
The 14-day Relative Strength Index (RSI) is close to its diagonal support line (in white). If the downward price action continues and the pair closes below $17.6K, the way to the next support at $16K appears to be clear. This corresponds with

Read More »

Calm Before the Storm: Bitcoin Rangebound Since June, Breakout Incoming? (BTC Price Analysis)

October 10, 2022

The crypto market continues to go through a phase of uncertainty and low volatility alongside steady price action. Currently, Bitcoin is trapped in a range, and the direction it takes to break away from it would determine the cryptocurrency’s mid-term direction.
Technical Analysis
By Shayan
The Daily Chart
Despite the descending multi-month trendline acting as significant resistance, the price has broken through and formed a pullback. However, at this moment, the bullish momentum isn’t promising, as there is a substantial lack of demand in the market.
Alongside the declined bullish momentum, the price is facing two important resistances; the 50-day moving average at the $20K mark and the 100-day moving average at $21.1K. Bitcoin must break above these crucial resistance

Read More »

Bitcoin Forms Huge Bearish Wedge, Is $18K Retest Incoming? (BTC Price Analysis)

October 8, 2022

Just as Bitcoin began to show some bullish potential for a possible trend reversal, the price got rejected from the significant resistance level of $20K.
BTC is in a crucial zone, as the price action in the next few days could determine the short-term to the mid-term trend.
Technical Analysis
By: Edris
The Daily Chart
The bitcoin price recently rebounded from the $18K support level and broke above the significant bearish trendline that started forming when BTC touched the $69K all-time high in November.
However, the 50-day moving average line has rejected the price, and the trendline mentioned above is being retested again, this time as support.
Suppose the trendline holds, the 100-day moving average – currently around $21K – could be the next dynamic resistance level,

Read More »

XRP Fails to Break Above $0.50 For the Third Time, Crash Incoming? (Ripple Price Analysis)

October 7, 2022

Despite several attempts to push the price above $0.50, XRP has been unsuccessful in stabilizing around this level.
Technical Analysis
By Grizzly
The Daily Chart
The cryptocurrency continues to challenge the $0.50 resistance, but, unfortunately, to no avail. It’s failed to overcome this level three times in just as many weeks.
Breaking above it would position the asset to retest the descending line (in red). If it manages to clear this barrier, the price will have better chances of going towards the next resistance level in the area between $0.66 and $0.69. is projected to extend to the next resistance level in the $0.66 to $0.69 range (in yellow).
However, in the opposite case – the price will likely retest the support level at $0.42 (in green). If that happens and XRP

Read More »

ETH Price Unable to Break Rrange but Can Bulls Extend to $1,400? (Etherum Price Analysis)

October 6, 2022

Up until now, ETH has managed to remain above $1,200 despite the increased selling pressure, but the price clearly shows that the downward trend is weakening after the Merge. However, this doesn’t mean that bullish momentum is underway.
Technical Analysis
By Grizzly
The Daily Chart
ETH was supported by the ascending line (in green) again, and increased investor confidence prevented the price from closing below it. The chart currently shows no notable signs of bullish momentum as the sideways trend continues for a second week.
The first obstacle is to break $1,500. (in red). This resistance results from the descending line (in yellow) and the 100-day moving average line (in white) colliding. If the ETH can clear this hurdle, the path to $2000 will be clearer.
As long as

Read More »