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Biggest Movers: XRP Hits Fresh 4-Month High, Token Climbs 50% This Week

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Biggest Movers: XRP Hits Fresh 4-Month High, Token Climbs 50% This Week

Xrp was once again higher on Friday, as the token hit a 4-month high for a third consecutive session. The token formerly known as ripple has risen by over 50% in the last seven days, despite the current market volatility. Cronos was also a notable mover today, climbing by nearly 15%.

XRP

XRP was higher for a second consecutive session on Friday, as the token moved to a fresh four-month high.

Following a low of $0.3398 to start the week, XRP/USD rose to an intraday peak of $0.5523 earlier today.

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As a result of today’s surge, which saw the price climb by over 10%, XRP climbed to its highest point since May 9.

XRP/USD – Daily Chart

Looking at the chart, the move comes as the token raced past its long-term ceiling of $0.5000, sending the 14-day relative strength index (RSI) to a recent high.

As of writing, the index is currently tracking at 72.57, which is its strongest point since August 2021.

Since earlier highs, XRP has moved lower, as previous bulls appear to have liquidated their positions, securing gains in the process.

Should bears see this as an opportunity to reenter the market, we could see XRP begin to reverse course.

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Cronos (CRO)

Cronos (CRO) was another notable gainer in today’s session, as the token rose past a key resistance level.

CRO/USD surged to a high of $0.1226 on Friday, which saw prices move beyond their recent ceiling of $0.1145.

Today’s peak is the strongest point that cronos has hit in the past ten days, pushing CRO close to a ceiling of $0.1260.

CRO/USD – Daily Chart

In addition to the breakout of the recent resistance level of $0.1145, there has also been a breakout of a ceiling of 50.50 on the RSI indicator.

As you can see from the chart, the 10-day (red) moving average also looks to be closing in with its 25-day (blue) counterpart, which could lead to an upwards crossover.

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Overall, the token is currently trading nearly 14% higher from the same period last week.

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Will we see momentum in cryptocurrency markets rise this coming weekend? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Analysis

Bitcoin, Ethereum Technical Analysis: Market Volatility Remains High, As BTC Climbs Above $19,000

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Bitcoin, Ethereum Technical Analysis: Market Volatility Remains High, As BTC Climbs Above $19,000

Volatility in cryptocurrency markets remained high on Thursday, as markets began to consolidate following a recent red wave. Bitcoin was back above $19,000 in today’s session, with ethereum also rebounding following recent losses. As of writing, the global crypto market cap is up 2.43%

Bitcoin

Bitcoin (BTC) was trading higher on Thursday, as crypto markets marginally rebounded following yesterday’s sell-off.

The token rose to an intraday high of $19,688.34 earlier in today’s session, less than a day after trading at a low of $18,927.12.

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Volatility in bitcoin has been heightened in recent weeks, as markets reacted to rising inflation, as well as a stronger U.S. Dollar.

BTC/USD – Daily Chart

Looking at the chart, it appears that bulls are once again targeting a resistance point of $20,300, however they could face some obstacles in recapturing this point.

The obstacles will likely come in the form of the 14-day relative strength index (RSI), which is nearing a resistance of its own at 49.50

Currently, the index is tracking at 46.38, with BTC falling from earlier gains, and as of writing trading at $19,440.82.

Ethereum

Like bitcoin, ethereum (ETH) was, relatively speaking, also back in the green in today’s session, as it moved above $1,300.

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Wednesday saw ETH/USD slip to a bottom of $1,267.87, however this was short lived, with bulls taking the token to a high of $1,351.96 earlier today.

The move sees the world’s second largest cryptocurrency race past a resistance of $1,330, however volatility in the market still remains.

ETH/USD – Daily Chart

Since hitting earlier highs, ETH is now trading at $1,334.94, with traders attempting to keep the token from falling below the floor mentioned above.

This coincides with the RSI hitting a ceiling at the 41.00 level, which has led to an increase of price uncertainty.

If price strength moves beyond this level, then we could see ethereum continue to climb heading into the weekend.

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Do you expect further declines from ethereum in the coming days? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Altcoins

Chiliz revisits a support zone, bulls can look to take profit at…

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Chiliz revisits a support zone, bulls can look to take profit at…

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • Chiliz revisits a bullish order block
  • Buyers beware of a bearish Bitcoin

Chiliz has performed well in the month of September. The rally two weeks ago measured 60% from the lows to the swing high. Despite a 15% pullback over the past week, the longer-term outlook remained bullish for CHZ.

Yet, a drop below $0.22 would invalidate this idea. In a previous article, a bearish divergence was seen, and the selling pressure on Bitcoin forced a sharp pullback for Chiliz.

Chiliz at a bullish order block, but choppy waters ahead

Source: CHZ/USDT on TradingView

The daily timeframe had a bullish structure. Therefore on the 12-hour chart, a bullish bias was warranted. The $0.18 area was an important support zone from which CHZ rallied to $0.28 earlier this month. In mid-August, the $0.24-$0.25 area had acted as resistance.

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At the time of writing, the price had slipped below the $0.247 key level. However it was still within the bullish order block formed a few days ago. Hence, a buying opportunity of relatively higher risk was present.

To the upside, a move to the $0.28-$0.3 region could materialize in the next week or two. However, such a scenario could be heavily reliant on Bitcoin holding on to the $18.6k support. BTC climbing back above the $20k mark would aid CHZ sentiment as well.

Net inflow over the past two weeks- are derivatives the play?

Source: CryptoQuant

In mid-September, a couple of days of heavy CHZ outflow was seen from the exchanges, according to data from CryptoQuant. This outflow suggested coins could have been sent to cold storage and a sign of investor accumulation. Yet, in the two weeks that followed, CHZ saw steady inflow into exchanges even as the price rallied to $0.28.

Overall the inflow in the past few days suggested that volatility could be around the corner. Bitcoin’s fall beneath $20k could be the beginning of a larger downward move. Fear of further losses could see market participants sending CHZ to exchanges for selling.

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Invalidation of the bullish notion set forth would be a daily session close below the $0.22 mark. To the north, bulls can look to take profit at $0.28. The bias was bearish for Bitcoin, and BTC could drag CHZ lower over the next few days. Hence, caution was key.

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Analysis

Biggest Movers: QNT Hits 6-Month High, ATOM Falls To 20-Day Low

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Biggest Movers: QNT Hits 6-Month High, ATOM Falls To 20-Day Low

While crypto markets were mostly lower on Wednesday, quant rallied to a six-month high earlier in the day. Today’s move came as the token broke out of a key resistance level, en route to its strongest point since March. Cosmos was another notable mover, dropping for a second straight session.

Quant (QNT)

Quant (QNT) rose to a six-month high on Wednesday, despite crypto markets mostly hovering in the red.

Following a low of $122.08 on Tuesday, QNT/USD rallied to a hump-day high of $143.26 earlier in the day.

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The move came as prices raced past a key resistance point of $133.00, hitting their highest point since March 29 in the process.

QNT/USD – Daily Chart

Shortly after the breakout, we saw bears reenter the market, likely as a result of uncertainty spurred by earlier bulls who opted to close positions.

As of writing, quant is currently trading below the aforementioned resistance point, with the 14-day relative strength index (RSI) also hitting a ceiling.

Currently, the index is deep in overbought territory, and tracking at 70.47. Should bulls aim to take price higher, the ceiling of 71.00 on the RSI will need to be broken.

Cosmos (ATOM)

On the other side of the spectrum, another notable mover on Wednesday was cosmos (ATOM), which fell by as much as 10%.

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ATOM/USD slipped to a low of $12.69 earlier in today’s session, breaking out of a key support point of $13.40 in the process.

This decline pushed cosmos to its lowest point since September 8, days after the token rallied from a support of $11.55

ATOM/USD – Daily Chart

Looking at the chart, today’s drop comes as the 10-day (red) moving average had a downwards cross versus its 25-day (blue) counterpart.

Should this bearish momentum continue, we could see ATOM on a collision course with a floor of $11.55.

A positive for bulls comes in the form of the 14-day RSI, which seems to have found a floor of 44.95, which could help stop the bleeding momentarily.

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Do you expect ATOM to hit a floor of $11.55 this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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