BTC/USD

BTC/USD is trading at $6,328 and continues to develop a downward trend. For yesterday’s trading day, the correction did not exceed 25%. This gives every reason to believe that the downward trend in the medium term will continue. The reason for the fall in the informational background, which was supplemented not only by statistical data on the decline in interest in the industry as a whole (according to information from the Bloomberg agency, is as much as for 90% from the beginning of the year), but also by reports that the miners suffered another blow – the increase in prices on electricity for mining farms. And the question concerns not only the fact that ordinary miners will leave the game due to the lack of payback of the mining process. The situation is much more serious: the concentration of mining in the hands of large players will lead to price manipulations and will deprive Bitcoin of the advantages of decentralization. It is not surprising that the market reacted negatively to such news.

As part of the forecast for October 13, we can expect further development of the price descending to the level of fundamental support of $6,000. The current correction may take some time, especially considering that the weekend is ahead. If the bears are serious and the goal is to break through the fundamental support of $6,000, then it will be more effective to do it from higher levels. Therefore, it is possible that the correction will go above the current resistance level of $6.350 to the zone of $6,500 – $6,450.

Cancellation of the descending movement will be a strong growth and the breakdown of the resistance area, with the price fixing above $6,600. By such a scenario, a potential target will be a sprout to $6,840, which in the future will open the way for the price to $7,100.

ETH/USD

ETH/USD is trading at $199.25 and continues to move within the borders of the descending channel. Bitcoin dragged down the main group of cryptocurrencies, but Ethereum became an outsider. In addition to reducing as much as $26 per coin to $195.42 at the first wave of the fall, the price went even lower and tested one of the $190 monthly lows. So far, the technical analysis remains on the side of the bears and the potential for further downward movement is very high, because up to the key and interesting support level of $ 137.00 for many traders and investors, the support level of $ 137.00 is still reserved.

As part of the forecast for October 13, we can expect further development of the downward movement and repeated tests of the support level of $190.00. Fixing the price below this monthly minimum will open the way for the price for a rapid downward movement to the level of $180.00. So, considering the weekend ahead, the decline may be sluggish. Quotes can first adjust higher to the level of $204.00 and fall down closer to Monday.

Cancellation of the further reduction will be a strong impulse for the price increase and a break through the resistance zone, with the potential goal to go to $236.50 and gaining a foothold above it.

XRP/USD

XRP/USD is trading at $0.42903 and is being in the correction after the decline. The price was able to return to the quotes of $0.42000 – $0.43000 and won back more than half of the bearish momentum. For this coin, the manipulations on HYIP news work very effectively and despite the fact that many people do not like Ripple because it is a pseudo-decentralized crypto coin if the HYIP is well-done, the price is likely to make another shot, as we saw earlier. Nevertheless, the levels have already been set and until we see the aggressive actions of buyers with the breakdown of the $0.62600 area of global upward movement, it will not happen to flow into the trend.

As part of the forecast for October 13, we can expect a continuation of the corrective movement with a subsequent decline down to the support level of $0.35700. Since the correction has already won back $0.42000 and $0.43000, we can wait for attempts to go higher, to $0.45000, where the price did not reach a bit in its previous corrective peak. A further price drop may occur either after the completion of the correction and retesting of the resistance zone of $0.43700, or straight from the current values.

Cancellation of this will be a sharp increase and the breakdown of the resistance zone, with the initial goal to upgrade to a maximum of $0.55100. If prices will be able to gain a foothold in this area, then we can wait for the further development of the upward movement to $0.62500.

XMR/USD

XMR/USD is trading at $103.350 and continues the correction after the fall. The second bullish wave renewed the previous low, but the psychological level of $100.000 stopped the fall. The truth is, looking at the price chart, it does not look so impenetrable. Correctional growth is not of particular strength and after the second bearish wave did not even reach the maximum of the first correction. Nobody is interested in buying from current levels. Therefore, it is likely to see the further downward movement to strong support levels of $96.000 and $87.000, purchases from which will be more attractive to market participants.

As part of the forecast for October 13, we can expect the continuation of the corrective movement with the subsequent fall down to the lower level of the daily flat at $96.390. Continuation of the development of the movement in the downward direction can be expected either from the current positions or after re-testing of the support area of $109.000 – $106.100, which is more likely considering the upcoming weekend.

Cancellation of the fall will be in a strong upward bullish momentum with a potential target of $116.000. Fixing the price above this level will open a further path to $122.000.