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📈 Price Predictions
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BTC & DASH Are On the Important Level, Stellar Has Magic Price Level: Crypto Price Analysis Update, Sept. 18, 2018

  • Vaido Veek
    📈 Price Predictions

    Bitcoin is in the crucial area, Stellar has a magic price level, DASH shows overall strength

BTC & DASH Are On the Important Level, Stellar Has Magic Price Level: Crypto Price Analysis Update, Sept. 18, 2018
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin is in the crucial area

Yesterday we mentioned that Bitcoin is on the "descending triangle" and this meant that we had a slight advantage to break downwards, well it happened. On the one-hour chart, we got a breakout from the counter trendline and we got a candle close below the April low (below all important price levels between the $6,425-$6,533). Those confirmations from the one-hour chart led us to the lower levels, to the next strong support line at $6,250.

image

Currently, BTC price has stopped in this area and the daily candle got a close above the mentioned level. This is good because if the current level holds us then we make a higher low and the price structure stays healthy with the higher highs and higher lows.

Stellar (XLM/USD) has a superstrong area

Yesterday, Stellar fought with the area which has been historically a super-strong level to beat, around $0.21. Over the two week period it has 20 (!) failed attempts to break above the mentioned levels. Previously this super-strong resistance was a support and also then we had around 20 attempts to break. So, if you want to see a bullish Stellar it has to make a breakout above the blue line.

image

Currently, after the little drop, we are below the round number $0.2 and back below the trendline which is pulled from July 25th.

If BTC doesn't find the bottom from the current level ($6,250) then definitely Stellar will follow that move down and we will retest the lower levels because we had a bullish "ascending triangle" pattern. However, sadly, we made a breakout downwards.

Our nearest support lines would be the double bottom around $0.18 and below is a black trendline. This trendline has pulled from March 18 and it has already three precise touches so, this is definitely a significant level. If we break below from this trendline then we may go and touch pretty low levels.

Dash (DASH/USD) shows some overall strength

Overall, Dash has shown us that it is a pretty strong coin. The drops aren't so deep and the recoveries are faster and higher than other altcoins.

Currently, we have two triangles, one is bigger (blue trendlines) and one is smaller (orange).

image

Over the weekend, Dash has made a breakout from the smaller triangle and it found a resistance from the round number at $200. At the moment, it has started to make a throwback, the throwback is healthy if we find a support from the orange triangle upper trendline and from the counter trendline (lower blue line).

If the whole market starts to show us some positive signs then this retest area would be a perfect spot to invest into dash but watch out for what BTC' does because the current market situation is a bit risky and we could see a panic if the current level doesn't hold.

If the bounce happens again, then we go to the round number level and overall this is a pretty strong level to beat. Why? Because:

  1. $200 round number works as a resistance
  2. July low works as a resistance
  3. The trendline since July 20, 2018 works as a resistance

So, a pretty tough level but if we manage to break upwards then the triangle pattern shows us that the next nearest target would be the next 'round number' of $250 and definitely we can reach there because Dash has shown almost incredible strength compared to other top altcoins!

To give you a bearish view, it is simple- at least a four-hour candle close below both triangles will guide us to the lower levels, so watch out if the price reaches into the red box area (around $175-$180).

If we get a close around the red box then we might see a pretty heavy drop (delayed drop from Dash) because, the price is at pretty high levels compared to other altcoins, far away from the 2018 low point.

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About the author

Vaido Veek hopes to become a leading voice in technical analysis by educating people about how the perfect TA  should look like. He has over 5 years of charting experience and loves to solve the patterns that   they show us. His slogan is "keep it simple"!

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📰 News
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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

👉MUST READ

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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