BTC/USD

BTC/USD is being traded at $6,544 and continues to move sideways in a narrow range. Bitcoin for the last trading day showed almost zero fluctuation along with the TOP-10 cryptocurrency. It is believed that this lack of activity is directly related to the SEC decision on Bitcoin ETF. Such market stability will have a positive impact on the decision of the US Securities and Exchange Commission (SEC) to launch Bitcoin ETF in late 2018 and early 2019. Prior to this, the SEC rejected applications for reasons of the extreme volatility of courses, not wanting to bind a reference price to crypto exchanges of the low liquidity and weak regulation: now the situation is changing literally before our eyes. If this state of affairs takes place, then this “stability” will last for a long time.

As part of the forecast for October 27, we can expect the continuation of price fluctuations in a very narrow range for themselves. Currently, a more likely scenario would be a decline to $6,500 – $6,450 for testing support. It is also impossible to exclude the possibility of rollbacks and testing the lower boundary of the Ichimoku Kinko Hyo cloud and yesterday’s maximum of $6,600. In case of a sharp drop below $6,200, a further decline to $5,900 is likely.

Cancellation of the development of the downward movement will be a pulsed growth and the breakdown of the resistance level of $6,700. In the case of consolidation above, growth is likely to $6,800, then – to $7,150.

ETH/USD

ETH/USD is being traded at $204.27 and continues to decline as part of a downward channel level of H4. A false breakdown of the upper boundary of the downward channel, about the possibility of which we have warned for the last two days, did take place. After a beautiful candle that tested the resistance zone, the price also returned to its original values just as beautifully and subsided. Judging by the absence of at least some interest and support for such price movements, a significant part of market participants from euphoria and depression came to indifference, and now they have to try hard to re-awaken at least part of the hype that prevailed in the market a year ago.

As part of the forecast for October 27, we can expect the downward movement to continue deep into the support zone, to the level of $200.00. Given the false breakdown and the upcoming weekend, it is possible that the price will move along the upper levels of the support zone for a while before going down.

The abolition of the reduction will be a pulsed growth in order to break through the resistance zone. Fixing the price above it will allow us to expect further growth to $223.00.

XRP/USD

XRP/USD is being traded at $0.46599 and continues lateral movement inside the Ichimoku Kinko Hyo cloud. The support level of $0.46000 was tested again and showed that at the moment there are still buyers in the market able to protect this area. But despite the fact that the recent growth of Ripple can be explained by the large-scale integration of cryptocurrency into existing services and the active promotion of RippleNET, the results of the analysis of price behaviour suggest a speculative component. Therefore, in the absence of a news background, the price is likely to continue to decline.

As part of the forecast for October 27, it can be expected that the price will continue to trade within the Ichimoku Kinko Hyo cloud for some time, after which one of them will be broken. Technical analysis shows that the resistance line gradually begins to decline, forming a trend line. This is a sign that the price is likely to go down from such pressure, breaking through the support level of $0.46000.

An alternative scenario is the breakdown of the upper boundaries of consolidation, with a target at the level of $0.48000.

XMR/USD

XMR/USD is being traded at $106.750 and continues to trade as part of a flat. The entire previous trading day, the price stood in a narrow range of $107.800 – $106.300 and refused to go down to the flat bottom of $105.000. The sellers are clearly leading in terms of the amount of sales volume, but their efforts are not enough to lower the price to the lowest boundaries of the flat. But growth will be more promising from lower levels. It is very difficult to determine how exactly market participants will behave.

As part of the forecast for October 27, we can expect the continuation of a corrective pullback down to the lower border of the flat $105.000, from where the price, having pushed off, can rush to its upper limits of $112.000 – $110.000. It is possible that such a stop in a narrow range, as we saw yesterday, will have a positive effect on the price movement and quotes will go up from the current positions.

Cancellation of this option will be the breakdown of the price of the lower level of the flat and the fall to $100.000. The reason for such a fall could be the lack of a sufficient number of participants in the market and a negative informational background.