Wednesday , August 17 2022
Home / CryptoVizArt

CryptoVizArt



Articles by CryptoVizArt

ETH Rejected From $2K, Here’s the Critical Support to Hold (Ethereum Price Analysis)

1 day ago

Ethereum has experienced a 6.6% correction from the daily high it recorded at $2012. The critical support level lies in the price range between $1700 and $1800, and it is very important for ETH to keep above it to prevent any further declines.
Technical Analysis
By Grizzly
The Daily Chart
Ethereum is moving along inside a rising wedge (in yellow), which is technically a bearish pattern. Simultaneously, the trading volume on Binance is decreasing. This suggests that buyers are gradually reducing.
Suppose that the bulls are able to defend the critical support in the $1,700-$1,800 range (in green) and not allow the pair to break below it. In this case, it is expected that the upward trend will continue with the target of $2200 after completing a brief pullback. Conversely, if

Read More »

Ripple Price Analysis: After 2 Months of Sideways, Will XRP Finally Breakout?

2 days ago

A strong resistance level has trapped Ripple for over two months, resulting in the price flirting between $0.3 to $0.39 during that period. It seems that the continuation of the upward trend depends on clearing this barrier. However, it’s unsure if there is enough momentum for the bulls.
Technical Analysis
By Grizzly
The Daily Chart
Analyzing the following daily chart reveals that the structure formed in the last two months has been textbook bullish, accompanied by the formation of higher highs and higher lows. However, it seems that these highs do not have the strength required in order to proceed further higher.
XRP managed to flip above the 100-day moving average (in blue) just two days ago. Consequently, the price touched the resistance zone again in the range of $0.39

Read More »

Bitcoin Price Analysis: Holding This Range Can Lead a Quick Move Towards $27K

2 days ago

After getting rejected from the $24K sentimental resistance area three times, the Bitcoin price finally broke the threshold, forming higher highs and lows on the daily chart. Can buyers expect to see the $27K level reached next?
Technical Analysis
By Shayan
The Daily Chart
The weekly candle is closing tonight (Sunday’s midnight UTC), and if Bitcoin successfully closes above the $24K level, a rally toward the $27K region will be likely.
However, the 100-day moving average – a key support-resistance line – currently stands at roughly $25K, which is the current 2-month high set earlier today.
Nevertheless, the multi-month descending trendline and the $27K level will be the next major barriers for the primary cryptocurrency’s path in case of a successful breakout of the

Read More »

Ethereum Tests $2,000 For The First Time in 74 Days, Here’s What’s Next (ETH Price Analysis)

3 days ago

The bulls have been in control of the market for more than a month. They have managed to push the price by more than 100%. The majority of this rally has been without a considerable correction, begging the question if one is pending following the test of the critical $2K level.
Technical Analysis
By Grizzly
The Daily Chart
Buyers still dominate the market and push the price up. They were able to return to the $2,000 level after 74 days.
In the meantime, a critical resistance zone is blocking Ethereum. It is formed as a result of meeting the horizontal resistance in the $2200-2300 range (in red), the descending line resistance (in yellow), and the 200-day moving average (in white). A close above this zone can extend the rally to $2,700.
On the other hand, the Relative

Read More »

Can Bitcoin Finally Break $24K or is Another Crash Coming? (BTC Price Analysis)

4 days ago

Bitcoin continues its struggle to push and hold above $24K, as it has been rejected from this significant level for the third time. The price rebounded from the $20K support level last month and has been making higher highs and lows on the daily chart. This resulted in the creation of a bullish structure. Can the cryptocurrency finally break through its goal of the $24K resistance level?
Technical Analysis
By: Edris
The Daily Chart
As of this writing, Bitcoin has yet to break above the $24K resistance level. The 100-day moving average has reached the $24K range and is creating further resistance. In case of a short-term bearish pullback, the 50-day moving average – which currently sits around the $22K level – would be the first support. If the price breaks below the MA,

Read More »

ETH Eyes $2K on Further Merge Developments (Ethereum Price Analysis)

5 days ago

The crypto market has seen a flurry of activity over the past few days, and Ethereum was no exception; most of the conversation centered around inflation and the Merge event. At long last, it seems that calmness has prevailed on the market, and everyone is waiting for ETH to reach the crucially important level of $2000.
Technical Analysis
By Grizzly
The Daily Chart
Ethereum has recorded an astonishing 16% gain in the past two days as it touched a high of $1930 at the time of this writing. The second largest cryptocurrency has ascended above the $1,700-$1,800 range (in blue). Reclaiming this resistance has increased the bullish sentiment in the market. It appears that the success of the Goerli merge has been a positive catalyst over the past 24 hours.
If the bulls can flip

Read More »

BTC Soars Towards $24K on CPI Numbers, Will the Resistance Fall? (Bitcoin Price Analysis)

6 days ago

The past couple of days have been very exciting for the entire cryptocurrency industry and Bitcoin is no exception. BTC soared towards $24K today on news of slowing down inflation in the US. The question is if this will be enough for the critical resistance level to finally fall.
Technical Analysis
By: Shayan
The Daily Chart
The 100-day moving average is one of the most crucial levels for Bitcoin; it can be interpreted as a resistance or support line. This is dependent on whether the price is above or below the MA. During the recent significant shakeout, the price dropped once again, falling below this effective moving average. It has now retraced to the broken level at roughly $24K.
If Bitcoin succeeds in surpassing this broken level, a climb to the $30K resistance region

Read More »

XRP Price Analysis: Here’s The Next Support for Ripple Following 7% Daily Drop

May 24, 2022

For nearly two weeks, Ripple has been below its static level at $0.45. The bulls attempted to push the price above it several times, but so far, they have failed.
Technical Analysis
By Grizzly
The Daily Chart
On the daily timeframe, XRP saw a 37% recovery below the static level (in blue) after the bulls managed to defend the horizontal support at $0.33 (in green).
The MA 20D (in white) has come down to this important level and acts as a price barrier. The cryptocurrency has not even been able to touch the dynamic level, suggesting this is a significant challenge for the bulls. It is important to remember that even if the price hits this level again, it is still too early to think about a reversal of the trend because the MA 20D is only the first major obstacle to overcome.

Read More »

Ethereum Price Analysis: Despite the Recent Increase, ETH Is Still At Major Risk

May 23, 2022

Early this week, the crypto market turned green. During the last two days, altcoins have outperformed BTC, and this includes ETH. The latter was able to reclaim the $2K mark. However, is the storm over?
Technical Analysis
Technical Analysis By Grizzly
The Daily Chart
Ethereum is near a critical support level that might hold up the price in the daily timeframe. Moreover, by looking at the RSI 30-day indicator, it is evident that prior bullish legs have occurred when the RSI has broken above the baseline or 50 (in yellow) and then managed to consolidate above it.
The current value of this indicator is 40. The short-term speculators usually wait for the RSI to cross the baseline before seeking the buying opportunities in the market.
Key Support Levels: $1700 & $1500
Key

Read More »

ETH Price Analysis: Warning Signs for Ethereum as Bears Push Below $2,000

May 19, 2022

The cryptocurrency market is still in a state of uncertainty and fear. Ethereum is no exception, and any upward attempt is faced with immediate sell pressure. Will the bulls be able to regain control of the market?
Technical Analysis
By Grizzly
The Daily Chart
On the daily time frame, ETH is moving downward inside a falling wedge (in yellow). It is important to note that this wedge bottom is aligned with the horizontal support level of $1700 (in green), which can be a potential trend reversal point.
As a result, if the bulls can defend the green zone, the price will be more likely to move towards the static resistance at $2450. On the other hand, if the bears continue to suppress the market and break below the green support zone, the price is more likely to enter an

Read More »

XRP Price Analysis: Ripple Drops 42% in a Week, What’s Next?

May 16, 2022

Last week, Ripple closed a red candle of a whopping 42%. The bulls managed to fight back, pushing the price up at the end of the week. Will this be the end of the bearish sentiment in the short term, though?
Technical Analysis
By Grizzly
The Daily Chart
On the daily chart, XRP is moving downward in a descending channel (in yellow). Currently, the support zone (in green) at $0.33 has prevented any further price declines. To dominate the market, bulls must be able to keep the price above this area. If they succeed, XRP will be more likely to move higher towards the static resistance (in blue) at $0.55 and then $0.68.
Many indicators have entered the oversold zone, and there could be a possibility of a short-term upward trend. To confirm the reversal of the momentum, the

Read More »

ETH Managed to Reclaim $2000, But Is the Storm Over? (Ethereum Price Analysis)

May 15, 2022

Since the sharp drop in the crypto markets three days ago, Ethereum was able to recover about 14% from its lowest level at $1,800. However, the daily candlesticks structure remains weak.
Technical Analysis
Technical Analysis By Grizzly
The Daily Chart
On the daily timeframe, $1700 is considered a long-term support level for ETH, which has prevented further price drops in May, June, and July 2021.
Although this level has not been broken down yet, the ETH price did not repeat the immediate bounce back, like the last three occasions in 2021. To understand the reason behind this weak reaction to this multi-year static support, it should be reminded that the macro-economic conditions are different from last year, which is affecting risk assets – both global and crypto markets.

Read More »

Ripple Sits at a Long-Term Support Following 30% Weekly Crash, Rebound In Sight? (XRP Technical Analysis)

May 14, 2022

The market is still in shock due to the deep collapse in recent days. Investors are skeptical, and it remains to be seen when the bulls will return to the market.
Technical Analysis
By Grizzly
The Daily Chart
The bears were able to push the price down to critical horizontal support at $0.33. This level has played an essential role for XRP since 2019.
Source: TradingViewThe sharp upward trend in 2021 occurred after breaking this level. If the bulls can defend it, one can expect XRP to move towards the resistance at $0.5, which is the first challenge for the bulls. However, given the macroeconomic conditions in the market,  one must remain very careful and cautious.
Key Support Levels: $0.23 & $0.17
Key Resistance Levels: $0.51 & $0.77
Moving Averages:
MA20: $0.56
MA50:

Read More »

Following the Crash Towards $26K, What’s Next for Bitcoin? (BTC Technical Analysis)

May 14, 2022

After a few weeks of consolidation, Bitcoin was unable to increase and eventually broke to the downside. This resulted in a considerable liquidation cascade and a drop below the critical support level of $30K.
Technical Analysis
Technical Analysis Shayan
The Daily Chart
The market has now tapped the resting liquidity below the significant demand zone around $30K, but there are no signs of a reversal yet. Furthermore, the next support level for Bitcoin is $24K-$25K.
The RSI indicator, on the other hand, has crossed into the oversold zone and is seeking to break above it. This might signal a short-term reversal to the previously broken $30K-$32K level. The bears, on the other hand, have complete power, and a collapse to the $24K-$25K demand zone remains possible.
Source:

Read More »

ETH Price Analysis: Ethereum is Facing Critical Support, Is Relief Correction Incoming?

May 9, 2022

Fear dominates the crypto market, following six weeks in the red. Many large caps have lost their long-term support, and ETH is one of them after reaching its lowest level since February 24, the day of the invasion.
Technical Analysis
Technical Analysis By Grizzly
The Daily Chart
The Delta Volume of both Binance futures and FTX perpertuals evaluates the behavior of buyers and seller takers in the market.
When green histograms are witnessed, it is interpreted that buyer takers are in control and buy aggressively, and we can expect the price to increase. Of course, histograms’ length and sequence must also be taken into account.
In the previous two bullish uptrends, it can be seen that the buyer takers had a higher hand on the support levels and pushed the price up. Over the

Read More »

Ripple Price Analysis: 3 Times XRP Increased From This Level, Will It Happen Again?

May 8, 2022

Ripple has touched the range between $0.5-0.55 three times over the past year. Now, the bears are trying to bring the price to this range once again, but will support hold the fourth attempt?
Technical Analysis
Technical Analysis By Grizzly
The Daily Chart
On the daily timeframe, the bears were able to push the price below the support level at $0.63 and turn it into a horizontal resistance (in red).
XRP price continued to drop after the pullback and is now close to the support zone at $0.50-0.55 (in green). Since last month, the bearish momentum in the market began to diminish.
Given that the price had reached the green zone three times in the past year, it is now considered technically weaker support. If the bearish momentum continues to decline, the demand at this level

Read More »

Bitcoin Breaks Below Multi-Month Support, Is $30K Retest Incoming? (BTC Price Analysis)

May 8, 2022

After consolidating above the $37K decisive level for a few weeks, Bitcoin was eventually rejected after another attempt at $40K and plunged below the key support following tremendous bearish momentum. BTC futures market has seen a massive long liquidation due to the recent bearish leg.
Technical Analysis
Technical Analysis By Shayan
The Daily Chart
Many retail investors have been buying Bitcoin around the $37K range, resulting in a lot of liquidity (sell stops) below the threshold level. The market is now grabbing the resting liquidity, and the $30K substantial demand zone might be the next major support area to be tested.
On the other hand, the RSI indicator has crossed into the oversold territory. This might result in a short-term rebound that will form a lower high,

Read More »

ETH is Fighting at Key Support Before Possible Further Drop: Ethereum Price Analysis

May 7, 2022

The cryptocurrency market has calmed down after the massive drop over the last two days. Currently, ETH lies on top of a critical support level, which most analysts refer to as a key level developed over the previous 12 months.
Technical Analysis
Technical Analysis By Grizzly
The Daily Chart
On the daily timeframe, after the bears pushed the price down more than 10% over the past two days, the weekend has been relatively stable.
However, is this calm before a giant storm?
ETH moves upward inside an ascending channel (yellow), confirming the upward trend – forming higher highs and higher lows. Suppose the bulls can maintain the price in this trajectory, we can expect the horizontal resistance at $3000 to be tested again.
On the other hand, if the price continues down, the

Read More »

What’s Next For Ripple Following the Drop Below $0.6? (XRP Price Analysis)

May 6, 2022

The crypto market experienced a sharp drop yesterday, liquidating many long positions. A lot of cryptocurrencies are approaching their long-term support levels, and it remains to be seen how bulls will defend them.
Technical Analysis
By Grizzly
The Daily Chart
On a daily time frame, XRP moves down inside a descending channel (in yellow). The intersection point of the channel’s midline with the horizontal support at $0.5 (in green) is a crucial level to monitor. If the bulls defend it, one can expect the channel top to be retested at around $0.8.
Otherwise, the bears have the potential to push the price down to as low as $0.37. If buyers can hold the price above $0.5 and accumulate in this area, the bearish momentum would fade and open up the doors for a potential move to

Read More »

Bitcoin Price Analysis: BTC Collapses 10% in a Day, Here’s The Next Critical Support

May 6, 2022

Bitcoin has broken the $37K support to the downside as the price crashed more than 10% yesterday. This could trigger a bearish scenario towards the $30K demand zone.
Technical Analysis
By: Edris
Daily Chart: 
Considering the current market structure, the 100-day and 50-day moving averages seem likely to chart a bearish cross in the next few days, further aggravating the selling pressure.
On the other hand, if the price can close above the $37K level soon, the bearish breakdown would be considered false and could lead to recovery towards $40K. The RSI is also reaching the oversold area, indicating a possible bullish pullback and a local bottom before further potential continuation of the bearish trend.
Source: TradingViewThe 4-Hour Chart
On the 4-hour timeframe, the price

Read More »

ETH Price Analysis: Ethereum Fights at $2.8K but Are Bears Preparing Another Assault?

May 3, 2022

Ethereum bulls are trying to keep the uptrend at a critical stage. For a solid reversal, they must try to hold the dynamic support and break above the descending resistance line.
Technical Analysis
By Grizzly
The Daily Chart
On the daily timeframe, the bears have been unable to push the price below the dynamic support (in green). This trend line is currently playing an essential role in continuing the uptrend. On the other hand, losing it can psychologically cause panic in the market.
Continuing the upward trend is associated with many challenges. The thick Ichimoku cloud is ahead of the price, accompanied by dynamic resistance and the daily MA200. The first scenario is for the bulls to return above the $3300 level. This can become a confirmation of a trend reversal.
On

Read More »

This is Bitcoin’s Biggest Challenge to Resume the Uptrend (BTC Price Analysis)

May 2, 2022

Bitcoin’s RSI has been rejected from a significant long-term trendline three times. When the RSI hit the mentioned trendline, the price plummeted sharply and was rejected. To provide prospects of positive development in terms of price, the trendline needs to get broken.
Technical Analysis
By Shayan
The Daily Chart
The $37K threshold has become a significant support level for Bitcoin, acting as a substantial hurdle for bears. If this level fails to hold, the price will likely fall to the $34K support. On the other hand, if Bitcoin is to resume its bullish trend, bulls must soon break over the 100-day moving average and restore market confidence.
Source: TradingViewThe 4-Hour Chart
Bitcoin has reached the lower trendline of its declining mid-term channel, and it has been

Read More »

Ethereum Price Analysis: This is ETH’s Most Important Level to Watch This Week

May 1, 2022

April was a bloody month for crypto, and especially for Ethereum. The ETH price fell from its month’s highest level at $3580 to $2700 last night. Can we expect May to perform better?
Technical Analysis
Technical Analysis By Grizzly
The Daily Chart
The following chart shows perpetuals’ exchange data from FTX. ETH is trading on top of the marked long-term ascending line (in green).
This trend line has provided support to the price since January 2021, based on the previous five attempts. ETH saw a bullish leg following each of these attempts.
Currently, ETH is heading towards the sixth attempt on top of the line, along with the blue horizontal level, which intersects with the dynamic trend line at $2,500. A breakdown could be catastrophic for ETH.
One thing to note is that

Read More »

Cardano Price Analysis: First Evidence of Nearby Bottom, Will ADA Soon Retest $1?

April 30, 2022

It has already been 240 days of a continuous downtrend for ADA, and it’s not over yet. Despite that ADA formed a promising market structure in March, April’s monthly candle so far is showing a 35% drop.
Technical Analysis
Technical Analysis By Grizzly
The Daily Chart
Cardano (ADA) is trading inside a falling wedge (marked orange) on the daily timeframe, which is technically a reversal pattern. Also, the RSI indicator has also reached a level at which the price has started to rise in the previous times after touching that.
By hitting the wedge’s bottom, the RSI indicator will also enter the oversold area, and a possible correction leg towards resistance at $1 could take place.
A bullish scenario is valid if support at $0.7 can prevent a further price drop. Otherwise, the

Read More »

Bitcoin Price Analysis: After Rejecting at $40K, BTC Could Drop to $36K and Below

April 30, 2022

Bitcoin has slowly declined over the past few days. The price got rejected at the 100-day moving average line twice last week, and now the 100-day and 50-day moving average lines turned into heavy resistance levels.
In addition, the $40k level is also acting as a significant static resistance level, and the price has been trading below it for most of the time over the past week.
Technical Analysis
Technical Analysis By: Edris
The Daily Chart
The recent trajectory of lower highs and lows has been forming on the chart, indicating a continuation of the bearish trend. As it seems now, BTC’s price targets the $36K support area in the short term, which has held the price on multiple occasions over the past year. However, a break below it could result in a rapid drop towards the

Read More »

ETH Facing Huge Decision Which Will Affect Its Short-term Future (Ethereum Price Analysis)

April 29, 2022

Despite a slow down of the recent bearish momentum, the bears still seem to control the market. In other words, bulls are reluctant to push the ETH price higher.
Technical Analysis
Technical Analysis By Grizzly
The Daily Chart
ETH is trading above the most important Fibonacci Retracement level on the daily timeframe – the 0.618 level.
Buyers have been defending this level for the past five days. However, the thick Ichimoku cloud has prevented ETH from breaking above the psychological resistance at $3000.
The blue rectangle, which represents the resistance range of $3000-$3300, is currenly the most critical resistance zone. If the bulls can breach above it, the buying pressure will probably be absorbed to continue the uptrend.
As it seems now, this scenario is complex

Read More »

Ethereum Price Analysis: Is ETH Primed for Recovery Following 8% Weekly Correction?

April 27, 2022

Yesterday, much like the stock markets, cryptocurrencies had rough times. Ethereum lost about 9% of its value, and the bears pushed the price toward the support at $2,800.
Technical Analysis
By Grizzly
The Daily Chart
On the daily timeframe, Ethereum entered a correction phase after failing to break the barrier of Fibonacci Retracement at 0.618. It is currently forming a bullish pattern with the formation of higher highs and lows. However, the main question is whether the bears would allow the support at $2800 to be considered a higher low?
If this happens, a retest of the horizontal resistance in the range of $3500-$3600 would be slightly more probable. Breaking it and forming another higher high could push the price to $4000. The downtrend momentum seems to have somewhat

Read More »

ETH Price Analysis: Ethereum At 5-Week Low, Here is the Critical Level to Watch

April 25, 2022

The crypto market continues its sharp correction, in correspondence with the global markets. Ethereum lost about 10% of its value last week and has started the first day of the week in the red. Earlier today, ETH recorded its lowest level since March 18, a five-week low.
Technical analysis by Grizzly
The Daily Chart
On the daily timeframe, the daily MA100 (marked blue), which has been supporting ETH for the past two weeks, eventually broke down.
The price is currently on top of the horizontal support at $2800, the first critical support level on the daily timeframe. On the other hand, buyer takers continue to retreat (marked red).
If the bulls could defend the support at $2800, ETH would still have to break many important levels on its way up, support which has now turned

Read More »

Ripple Price Analysis: XRP Rejected at Key Resistance, Likely Facing Another Drop

April 24, 2022

XRP continues to slide downwards, following the overall bearish sentiment in the crypto markets. The price got rejected at the critical line of resistance of $0.92 and now heading towards low levels where support lies.
Technical Analysis
Technical Analysis By Grizzly
The Daily Chart
On the daily timeframe, despite the sudden spikes, it still seems that the sellers have the upper hand now. If we look at the past recent uptrends, we see that previous uptrends have occurred by increasing buying pressure from buyer takers, which led to price increases.
These areas are marked with numbers 1, 2, and 3 and white lines on the following chart. We can’t identify the same structure that led to the price rise before, when comparing it to today’s situation.
Key Support Levels: $0.6 &

Read More »

Bitcoin Is About to Lose Key Support Area, Is $37K Incoming? (BTC Price Analysis)

April 24, 2022

Last week, the 50-day and 100-day moving average lines went through a bullish crossover; however, Bitcoin failed to continue the bullish momentum and experienced a price shakeout.
Later in the week, the price recovered and made another attempt to break above the moving average lines, but quickly rejected and plummeted below the $40K mark.
Technical Analysis
Technical Analysis By Shayan
The Daily Chart
The next major support for BTC lies in the $36K-$37K region, if this level fails to hold, the price will likely drop to the $30K demand zone.
Also, the RSI indicator is presently below 50 points and the long-term resistance trendline, indicating that the bears have regained control of the market. Bitcoin’s RSI needs to break the descending trendline to reach higher prices.

Read More »