BTC/USD

BTC/USD is being traded at $6,740 and continues to move within the borders of the correction. At the moment, it is clearly visible that the price groped for a new area of support at $6,700 – $6,650. If we focus on technical indicators, we should expect a further price reduction of at least $200 – $300. But first, we will have to go beyond the framework of the current outset, after which it is planned to build forecasts for the medium term.

As part of the forecast for October 18, we can expect further development of the correction, with a likely decline to $6,500. The panic associated with the USDT, according to the most conservative estimates, will be tapped off at least until the weekend. Therefore, we will probably still be able to see yesterday’s high and price going to $6,800 – $6,850, before the price breaks the temporary support range of $6,700 – $6,650.

Cancellation of the downward movement will be a strong impulse growth and the breakdown of the resistance zone, in order to gain a foothold above the level of $7,100.

ETH/USD

ETH/USD is being traded at $213.37 and continues to be in the process of correction. The coin repeats the dynamics of Bitcoin again, only on a smaller scale. Coin trading volumes also declined stronger than Bitcoin. Therefore, it is possible that the current boundaries of the side corridor will be pierced a little earlier than the main pair of the crypto market.

As part of the forecast for October 18, we can expect a continuation of the lateral movement, with the prospect of breaking through the lower limit of the range at $208.00 and going down to the support level of $202.50. Since it is difficult to predict the completion of the lateral movement, it is possible that a small price increase may take place at first, at least to the maximum of the previous day, $217.00, and only after that, we will see a decrease.

The abolition of the reduction will be an impulse growth, with the price fixing above the resistance level of $226.00. This will pave the way for the price to update highs in the $239.00 area.

XRP/USD

XRP/USD is being traded at $0.48080 and is traded within an upward correctional corridor. Against the background of positive news and heightened interest of the US White House in this coin, the coin will continue to grow in value in the medium term. Recall that recently the chief marketing specialist of Ripple met with the administration of US President Donald Trump, at which the possibilities of cryptocurrency were discussed. The awareness of the White House arises from the fact that most of Bitcoin and Ethereum are mined in China. Against such a background, Ripple stands out favourably, since it cannot be mined, and therefore more difficult to control. If the positive news background continues to persist, after a probable short-term decline, we will be able to see continued growth.

As part of the forecast for October 18, we can expect a continuation of the correction and re-testing of the resistance level of $0.49000. It is possible that the price can also update the previous day’s maximum and rise to $0.50000 before going down to $0.46000 – $0.44000 for a short-term basis.

Cancellation of this fall will be continued growth and updating the peak of $0.52500 and gaining a foothold above the level of $0.53000. This will open the prospect of further development of the upward movement to $0.55100.

XMR/USD

XMR/USD is being traded at $110.050 and is also within the correction. At the moment, an attractive level for buyers of $109.000 has been formed. If this level remains so, then the upcoming price reduction in the region of $107.000 will be a temporary and short-term character. Especially considering today’s hardfork with the activation of the Bulletproofs protocol, which will significantly reduce the commission. This will increase the attractiveness of the coin for market participants and can provide good support for its price.

As part of the forecast for October 18, we can expect the continuation of the corrective movement. Whether the news background will support the quotes and whether this coin remains promising for buyers, it will be possible to argue after testing the support level of $107.000. If the bulls lose the initiative, the decline may go lower, to the support zone of $104.000 – $103.000, which is likely to be a continuation of the bearish trend.

Cancellation of the reduction will be the resumption of growth, with a goal of $114.000. Fixing the price above this level will open the further path to $122.000.