- Tunisia performs a test transfer with its new digital currency.
- Ethereum takes advantage of a weak Bitcoin and can knock it out.
- XRP is failing to react to positive news that comes from Ripple Ltd.
The Governor of the Central Bank of Tunisia has carried out a pilot transfer of CDBC or e-Dinar. Russian ICO startup Universe has provided technical assistance to the pilot test
The race towards the tokenization of sovereign currencies has begun a long time ago, but it finally enjoying its time in the sun. China has announced its intention to create an e-Yuan, and also in Europe, institutions are considering the matter.
The case of the US is different – and for now – its central bank is observing from the sidelines. It seems that, once again, it will be the private sector that will lead the technological revolution in the world's largest economy.
Crypto market weakness.
Last Friday the bearish forces were conjured up and managed to beat the $9,000 support level in the BTC/USD pair. The weekend interval had a balsamic effect, but Monday has brought with it a reactivation of the bearish momentum in the leading crypto actives.
The current winner is the Ethereum, which manages to stay above the critical level of $180. Besides, it accumulates gains against Bitcoin of more than 7% in the past week.
The technical indicators of volatility are still far from extreme levels, but the emotional tension of the market players is noticeable in every corner of this cryptoverse.
ETH/BTC Daily Chart
The ETH/BTC pair is currently trading at the price level of 0.0212 and continues the bullish trend that began in early September.
The relative gain in value comes from the side of Bitcoin's more significant weakness against Ethereum, but for active traders, the performance at stake is essential.
Above the current price, the first resistance level is at 0.022, then the second at 0.023 and the third one at 0.0236.
Below the current price, the first support level is at 0.0206, then the second at 0.020 and the third one at 0.019.
The MACD on the daily chart increases the positive slope and also the opening between the lines. Soon the indicator will reach the zero level, and we will be able to evaluate the real strength of the Ethereum against Bitcoin correctly.
The DMI on the daily chart shows how the bears lose the ADX line and confirm that the ETH/BTC pair has a massive bullish trend ahead.
BTC/USD Daily Chart
The BTC/USD pair is currently trading at the $8.692 price level and is marking a new relative low in the short term. The current scenario remains active above the $7,500 price level as support, and at $9,650 as resistance.
Above the current price, the first resistance level is at $8,800, then the second at $9,150 and the third one at $9,650.
Below the current price, the first support level is at $8,400, then the second at $8,200 and the third one at $8,000.
The MACD slightly increases the bearish profile but with limited bearish potential. The close presence of support at the zero lines and the slight slope indicate a high probability of bullish turn in the short term.
The DMI on the daily chart shows how the two sides of the market are on a collision trajectory. The result is uncertain, although the statistics are on the bear's side.
ETH/USD Daily Chart
The ETH/USD is currently trading at the $186.23 price level, narrowly losing the SMA100 but still retaining the support of the EMA50. The weakness of Bitcoin and XRP can quickly spread.
Above the current price, the first resistance level is at $187, then the second at $190 and the third one at $195.
Below the current price, the first support level is at $180, then the second at $170 and the third one at $160.
The MACD on the daily chart shows a total loss of the bullish momentum, but it does cross downwards. The indicator moves above the zero line, and it is difficult for it to drill down if it does not increase the bearish profile.
The DMI on the daily chart shows the bulls dominating the ETH/USD pair, although the bears keep the chances of fighting for leadership alive.
XRP/USD Daily Chart
The XRP/USD is currently trading at the $0.272 price level and is deepening at the bearish momentum of the Ripple Ltd token.
The continuous news in favour of the parent company's business seems to affect the XRP quotes negatively.
Above the current price, the first resistance level is at $0.28, then the second at $0.285 and the third one at $0.289.
Below the current price, the first support level is at $0.27, then the second at $0.268 and the third one at $0.26.
The MACD on the daily chart increases the bearish profile and attacks the supporting zero level in the session. Losing this level would add pessimism to the current situation.
The DMI on the daily chart shows a bear rally leading to the XRP/USD pair. The bulls try to maintain the right level, but the closeness of the ADX line can make it difficult for them.
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