Ethereum points to the Moon as Bitcoin takes a break

  • ETH/USD exceeds $220 and is bidding to lead the market.
  • Bitcoin sets a bear trap and recaptures $10,000.
  • XRP stalls between technical levels and fails to consolidate $0.30.

 

Arriving at the end of the week, we can say that what has happened in the last days will mark the last quarter of the year for the cryptocurrencies market.

The most important news is the upward movement of Ethereum, both against USD and Bitcoin. 

The surge of the leader of the Altcoin segment has dragged with it other components of the Top Altcoin list. The most prominent is Stellar Lumens, Cardano, Tron, and IOTA. On the other hand, EOS and Ethereum Classic have lost courage and the upward pace of this start of the Altcoins season.

For next week, the most exciting event on the calendar is the meeting between members of Congress and the SEC to speak. They will discuss, among other things, Libra, Bitcoin and the need to further regulate cryptocurrencies business to be able to open the doors to the great exchange platforms. It is scheduled for Tuesday the 24.

In the short term, the news is in Bitcoin, which went out to hunt bears at the last minute on Thursday and dragged them over $10,150 again.

 

ETH/BTC Daily Chart

The ETH/BTC cross is trading at 0.0214 and is down at the beginning of the European session. It averaged 100 periods on the daily chart on Thursday, and it seems that the time may have come for a short break.

Above the current price, the first resistance level is at 0.0217, then the second at 0.0229 and the third one at 0.027.

Below the current price, the first support level is at 0.0201, then the second at 0.0193 and the third one at 0.0186.

ETHBTC

The MACD on the daily chart further boosts the bullish profile and proposes new highs for the next few days. The only negative point is an extremely bullish setup that can cause some bearish movement against it. 

The DMI on the daily chart shows the bulls at recent cycle highs. It seems to have…

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