BTC/USD

BTC/USD is being traded at $6,636 and continues the corrective movement. During the weekend, the quotes showed good movement, testing both the support area near $6,550 and the area of the signal lines of the Ichimoku Kinko Hyo Cloud at $6,630. We called these marks on Friday but did not expect that over the weekend the price would be able to get to both of these points. Now there is a high probability that the coin will get stuck within a fairly wide flat of $6,900 – $6,300. Looking ahead, we can say that before the price leaves these boundaries, there is no need to talk about the beginning of any directional movement, and this way against the background of minimal volatility does not promise to be short. News can also shift the situation: but it is too difficult to predict the direction to bet on such aspects.

As part of the forecast for October 22, we can expect the price to go down, back to $6,500. If the corrective wave up is not over yet, it is likely that the decline will follow not from the current levels, but after moving to the resistance level of $6,700. At the current price level, buyers have a chance to form the level of their interest. If they succeed in this, which we will learn about in the late afternoon, this will be a signal to continue the correctional wave upwards, to $6,750.

Cancellation of the development of the downward movement will be a strong impulse growth and the breakdown of the resistance zone, in order to break through the upper boundary of the resistance zone of $6,800 and gain a foothold above the level of $6,900. Only after that, we can expect growth to $7,000.

ETH/USD

ETH/USD is being traded at $208.30 and continues to be in the process of correction. Yesterday, a real battle unfolded between sellers and buyers in a zone of high interest of $209.00 – $210.00. Victory, in the end, was after the bears. All the factors were on their side, and the fact that the coin has been in the position of an outsider for several months already, and news of the absence of the announced updates promised to the public this year. Ether continues to lose its investment attractiveness at an alarming rate, and it will be extremely difficult to restore trust, which it may lose in the future.

As part of the forecast for October 22, we can expect a downward movement to the support level of $202.30, and in the case of a lot of pressure from sellers, to $197.00. If the price quickly reaches these goals, then with a high probability it will update the minimums of $194.00 and $188.00.

The abolition of the descend will be an impulse growth, with the price fixing above the resistance level of $223.00. This will pave the way for the price to update highs in the $239.00 area.

XRP/USD

XRP/USD is being traded at $0.46895 and continues the corrective movement. At the moment, in the area of $0.47000, there is a great interest of buyers. The price is near this level for the whole weekend, which gives us the reason to think about the accumulation of positions by the bulls. How long such accumulation can last is difficult to predict. Therefore, as long as buyers do not strengthen their positions, updates to highs in the $0.49000 area are postponed, but many factors suggest that we will see it anyway.

As part of the forecast for October 22, we can expect a continuation of the corrective decline, in order to update yesterday’s maximum of $0.47809 and go higher to the resistance zone. Upward movement can begin with a rollback and re-test of the support level at $0.46000. If growth is impulsive and fast, then the target will be the upper level of the resistance zone of $0.49500. This will open the prospect of further development of the upward movement to $0.55100.

Cancellation of this option will be the continuation of the decline, in order to lower to the minimum of the entire current correction of $0.44750 and test the lower boundary of the support zone.

XMR/USD

XMR/USD is being traded at $107.240 and continues to be in the correction. The price has formed an area of heightened interest of $106.000 – $107.000. The outcome of the trade in this area will depend on the update of what we will see, highs or lows. The advantage of the downward movement, at the moment, is indicated by the location of the price itself relative to the Ichimoku Kinko Hyo Cloud. Probably, while the bulls are still not strong enough to push the price upwards, they don’t intend to surrender, at least for now.

As part of the forecast for October 22, we can expect the continuation of the correction within the range of $109.000 – $105.000. To form an upward movement, buyers need to gain a foothold above $107.500. Therefore, while we are gaining positions, we can probably see a decline, towards the support area, and then we will see whos advantage will remain. Testing the upper boundaries of the resistance zone and the subsequent bounce will be an additional signal in favour of the fact that the quotes will go lower into the support zone of $104.000 – $103.000.

Cancellation of the descent will be the resumption of growth, in order to break through the upper resistance level of $114.000. Fixing the price above this level will open her further path to $117.500.