{"id":44363,"date":"2020-09-21T02:04:51","date_gmt":"2020-09-21T06:04:51","guid":{"rendered":"https:\/\/www.opensource.im\/uncategorized\/cryptocurrency-market-update-major-cryptos-turn-south-toward-the-end-of-the-week-fxstreet.php"},"modified":"2020-09-21T02:04:51","modified_gmt":"2020-09-21T06:04:51","slug":"cryptocurrency-market-update-major-cryptos-turn-south-toward-the-end-of-the-week-fxstreet","status":"publish","type":"post","link":"https:\/\/euvolution.com\/open-source-convergence\/cryptocurrency\/cryptocurrency-market-update-major-cryptos-turn-south-toward-the-end-of-the-week-fxstreet.php","title":{"rendered":"Cryptocurrency market update: Major cryptos turn south toward the end of the week – FXStreet"},"content":{"rendered":"

Following a relatively quiet trading day on Saturday, major cryptocurrencies edged lower on Sunday. However, key resistance and support levels remain intact for the top-three cryptos, Bitcoin, Ripple and Ethereum.<\/p>\n

Bitcoin rose above $11,000 on Saturday but lost its momentum after closing in on $11,200 (Fibonacci 38.2% retracement of July 21-August 18 uptrend) resistance. At the moment, BTC\/USD is losing 2% on a daily basis at $10.863. On the down side, $10,800 (Fibonacci 50% retracement) aligns as the immediatesupport ahead of the 100-day SMA at $10,400. Unless Bitcoin recaptures $11,200, the modest bearish pressure is likely to remain intact in the near-term.<\/p>\n

Bitcoin Price Analysis: BTC\/USD erases Saturday's gains, returns to $11,000 area.<\/p>\n

Ethereum is down nearly 4% on Sunday but remains on track to finish the week with small gains. The near-term outlook stays neutral-to-bearish with key$400 (psychological level\/Fibonacci 50% retracement of early September drop) proving to be a tough resistance to break.$350 (Fibonacci 23.6% retracement) could be seen as the next target on the downside.<\/p>\n

Ethereum Price Analysis: ETH\/USD pares majority of weekly gains, trades near $370.<\/p>\n

Ripple (XRP\/USD) showed some signs of live on Saturday but failed to break above$0.2550 (Fibonacci 50% retracement of July-August rally). As of writing, XRP\/USD was down 1.9% on the day at $0.2470. Although the recent price action doesn't reveal a significant buildup in bearish momentum, buyers are not likely to show interest unless the pair registers a daily close above $0.2550. Technical supports could be seen at $0.2400 (Fibonacci %61.8 retracement) and $0.2360 (100-day SMA).<\/p>\n

Ripple Price Analysis: XRP\/USD struggles to hold above $0.25.<\/p>\n

<\/p>\n

Original post:
\nCryptocurrency market update: Major cryptos turn south toward the end of the week - FXStreet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Following a relatively quiet trading day on Saturday, major cryptocurrencies edged lower on Sunday. However, key resistance and support levels remain intact for the top-three cryptos, Bitcoin, Ripple and Ethereum<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[869],"tags":[],"class_list":["post-44363","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/44363"}],"collection":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/comments?post=44363"}],"version-history":[{"count":0,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/44363\/revisions"}],"wp:attachment":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/media?parent=44363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/categories?post=44363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/tags?post=44363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}