Sirwin
Sirwin

WEEKLY PRICE DIGEST: BTC, ETH, DOGE, CHZ & APT

By SimpleLearn | SimpleLearn | 18 Nov 2022


After a strong drawdown in the previous week, the crypto market doesn’t please us with volatility. The market is in a state of consolidation. At this time, American banks predict a decline in the S&P500 index, regardless of the possible easing of policy by the US Federal Reserve. Bitcoin doesn’t react to that, probably because it has fallen in price quite a lot amid the news about the collapse of the FTX exchange.

 

BTC

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Over the weekend, bitcoin declined after correcting the fall and updating the lows the previous week. The decline was over 12% from $18,181 to $15,833. At the beginning of the week, there was a good recovery attempt to $17,200. Recovery was over 6%. The price is currently in a tight range between $16,400 and $17,000 and is trading at $16,717.

 

ETH

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The coin also follows the movements of Bitcoin and is in a state of consolidation. Recovery after falling to $1,077 was by more than 24% and reached $1,348 later. Then it continued to decline to $1,171, which was more than 12%. At the beginning of the week, there was an attempt to rise to the price mark of $1,291, which amounted to more than 9%, and the transition to a state of consolidation. At the moment, the coin is trading at the price level of $1,212.

 

DOGE

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After the fall, the coin showed a recovery to the price mark of $0.09453, which was more than 32%. At this price point, a local resistance level formed and was retested during the week. Further from this level, the coin fell twice to the price mark of $0.07904, where a local support level was formed. At the moment, the coin is in a state of consolidation within the formed range and is trading at a price point of $0.08526.

 

CHZ

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Against the backdrop of the market, the coin looks stronger and shows an upward movement during the week. The recovery from the fall was over 61% to the price mark of $0.2365, where a resistance level was formed. The rebound from this level was 24% to the price mark of $0.1783. At this price mark, the price was held by the support level. It sent it to the resistance level with a subsequent breakdown. The coin is currently trading above the resistance level at $0.2431.

 

APT

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After last week's fall, momentum attempted to recover to $5.4772, which is more than 60%. Then the coin continued to decline and dropped to the price mark of $3.7846, where a local support level was formed. Then there was a rebound, and the price reached the price mark of $4.8139 where the chart formed a local resistance level. At the moment, the coin is consolidating under the level and is trading at around $4.7695.

 

The content of this post should not be construed as investment advice. We ask you to do your own research. This text is not a guide to action.

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SimpleLearn
SimpleLearn

A to Z practical crypto education for everyone. Learn to keep, exchange, or buy crypto confidently!


SimpleLearn
SimpleLearn

A to Z practical crypto education for everyone. Learn to keep, exchange, or buy crypto confidently!

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