Cryptocurrency markets weekly analysis

Since the end of November when a bearish momentum took over myriad crypto markets, most pairs have been dominated by losses. This is contrary to predictions by crypto experts who had anticipated an upward rally towards the end of the year. The leading cryptocurrency, Bitcoin, continued in its bearish trajectory throughout the week as was the case with other digital currencies in the top twenty bracket according to market capitalization.


The largest Altcoin by market capitalization began off the week exchanging at $3531 against the dollar and finished at $3238. This represents 8% loss in its value. Throughout the week, the bearish trend tested last week’s support of $4000 and went ahead to breach it. A new support level was set at $3128 as seen in the chart. Resistance on the other hand was established at $3644 which goes to show the hard hitting effect of the bear market.

On the upper side, the highest point reached was $3590 (marked H) and $3128 (marked L). On Friday, December 14, the Relative strength index (RSI) moved into the ‘oversold’ area, signaling weakened investor confidence, perhaps as a result of the nose diving prices.

As of today, the 50 day Moving average is acting as the price setter. Also, the 7 day EMA has crossed over the 21 day EMA which signals a bullish run aimed at market correction may be in the offing.


Ripple has enjoyed a good run in the markets over the past few weeks to the point of overtaking ETH in market capitalization figures. In the just concluded week, XRP took a loss as was the case with other cryptocurrencies. It began off selling at $0.31725 and closed at 0.29812 which translates to a 6% loss in its value across the week.

The highest point reached was $0.32178 (marked H) and $0.2853 (marked L) on the lower side.

Support lay at $0.285 and resistance at $0.33. In addition, the 7 day moving average acts as the price level at $0.297.

With regards to market activity, the relative Strength Index (RSI) went in to the ‘oversold’ area on Friday, December 14 before skyrocketing to today’s figure at 64.


Throughout the week, Ethereum lost by 5%, moving from $93 to $88 today. The highest point attained (marked H) was $94.23 and on the lower side, it was $83.17 (marked L).

Support was established at $83 and Resistance at $94. Despite the bearish outlook that dominated the week, a bull run began today with the Relative Strength Index (RSI) sky rocketing to 64. This implies that a bull run might be in the offing. However, the bulls must break out from the range block in place.

Quione CEO Bullish As Ever On Bitcoin

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Weekly Cryptocurrency markets analysis: November 19 to November 25

The week beginning from November 19 to November 25 was punctuated with a huge dip in prices of most cryptocurrencies. Bitcoin, which seems to influence the price of other cryptos, was down by 36% throughout the week. Analysts have raised concern, this being the worst weekly in five years for the leading cryptocurrencies with regards to market capitalization.

Also, Ethereum, which had curved a niche for itself as the second best rated crypto after Bitcoin took a beating to remain at third.

On Sunday, November 25, prices of major cryptocurrencies took a further dip of around 10% which has not helped matters.

However, despite the negative sentiments from the markets, Bitcoin is set to overtake MasterCard in terms of the volume of transactions per day. This move is welcome as it may build impetus for a bullish momentum.


The pair took a 36% dip throughout the week. This loss is the worst weekly loss since the second week of April 2013. It also dropped a further 10% on Sunday. The coin opened trading at $5553 and closed at $3520, translating into a 36% loss. Analysts predict that the digital coin may be headed for its worst loss since 2013 where prices nose-dived from $165 to $91, representing a 44% loss.

The $4000 level was breached as prices gravitated downwards to establish a new support level at $3887.

The RSI is at the oversold region (below 30) for the first time since 2015, with coin hodlers looking to dispose of their Bitcoin holdings to avoid raking in losses.

Little buying activity also shows that investors are restraining from buying the ‘dip’.

Both the 30 day and the 9 day moving averages are trending downwards which indicates that the bearish outlook may go on for a while.


The altcoin solidified its grip as the top rated crypto after Bitcoin. This was due to Ethereum’s woes. The pair hit a high of $ 0.5101 and a low of $ 0.3673 as its stellar performance continued despite taking a loss as was with the case with most other alt coins.

The crypto exchanges that were more active, in volumes, with XRP across various pairs this week were Bitbank (13.37%), ZBG (8.54%) and UpBit (7.61%)


Like Bitcoin, Ethereum took a severe dip, with prices pushing downwards. The $100 level was constantly tested although it was not breached. Prices hit a high of $ 177.18 and $110.83 on the lower side.

The exchanges that were more active, in volumes, with ETH across various pairs this week were OKEx (5.18%), BitFinex (5.04%) and CoinBit (4.03%).

Fundamental news throughout the week indicated a secret plan by ETH developers to upgrade ETH’s network. This is to improve the capacities of the technology. CRYPTO IS COMING!

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