Cryptos after Conibase’s XRP roll out – levels

May 14,2019 13:16   Source:Forex Crunch
  • Cryptocurrencies have extended their gains with all three major coins hitting higher ground.
  • Consolidation or further gains? Each digital asset has its own trajectory.
  • Here are the levels to watch according to the Confluence Detector.

Coinbase, one of the largest cryptocurrency exchanges, has just rolled out trading in XRP to its New York clients. The San-Francisco-based franchise has made the news public in a tweet and triggered further demand for Ripple’s coin, ranked third among digital assets.

Yet also Ethereum ranked second, and Bitcoin, the King of Cryptos, are seeing more gains, with the former getting comfortable above $8,000 and the latter above $200.

How far can the rally extend? Are prices a bit overstretched? It is a different story for each of the top three cryptos.

This is what the Crypto Confluence Detectorshows in its latest update:

Bitcoin Ethereum Ripple cryptos confluence May 14 2019

BTC/USD has a well-defined range

Bitcoin has an initial hurdle around $8,200 which is the convergence of the Bollinger Band one-hour Upper, and the previous day’s high.

It then targets $8,372, where the previous 4h-high meets the Pivot Point one-day Resistance 1.

BTC/USD has some support at $8,020 where the previous 1h-low meets the Simple Moving Average 5-4h.

The granddaddy of cryptocurrencies has more substantial support at $7,880 where the Fibonacci 23.6% one-day, the previous 4h-low, and the SMA 100-15m all meet.

ETH/USD needs to break $212 to run higher

Ethereum faces its first resistance line at $210where the Pivot Point one-week Resistance 3 converges with the previous 15m high.

A more considerable cap awaits at $212 where we see the confluence of the BB 4h-Upper and the PP 1m-R2.

Above $212, Vitalik Buterin’s brainchild may run beyond $221.

ETH/USD has strong support at $207 where we see a dense cluster including the PP 1d-R1, the SMA 10-15m, the previous 1d-high, and the previous 1h-high.

The next cushion is at $202 where the SMA 100-15m meets the Fibonacci 23.6% one-day.

XRP/USD to $0.4232 and beyond

Ripple rallied on the news of the Coinbase rollout and now has little resistance up to $0.4232 where the Pivot Point one-month Resistance 2 stands out. On the way, it faces only the BB 15min-Upper and similar weak caps.

Support awaits at $0.3695 where the Pivot Point one-month R1 converges with the previous 4h-low.

The next level to watch on the downside is $0.3436 which is the convergence of the PP 1d-R2 and the Fibonacci 38.2% one-month.

The post Cryptos after Conibase’s XRP roll out – levels appeared first on Forex Crunch.



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