Ethereum, DigiByte, Monero  Market Analysis for 18th January 2021

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Ethereum went down to a level of support of $1150, and if the bulls were unable to defend that level, ETH could go to the $1000 zone. Monero dropped down on the charts over the past week, while DigiByte formed a descending triangle pattern and was primed for a breakout.

Ethereum [ETH]

Ethereum, Monero, DigiByte Price Analysis: 18 January

Source: ETH/USD on TradingView

ETH traded within the (cyan) range from $975 to $1290. Inside this range, it had developed an ascending channel (orange) over the last few days but faced opposition from the $1290 stage and was unable to climb above it.

The Amazing Oscillator recorded red bars on its histogram to indicate a diminished bullish momentum. ETH closed a trading session under the rising channel, signalling a downward turn.

Losing the $1150 level of bears would add power to bearish momentum which may see the $1000 area as help for the ETH measure.

DigiByte [DGB]

Ethereum, Monero, DigiByte Price Analysis: 18 January

Source: DGB/USDT on TradingView

The 1-hour timeframe was evaluated for DGB and revealed that it was ready for a breakout as it developed a descending triangle pattern. Closing above the pattern would see the DGB rise to test the $0.028 level again while closing below the pattern would possibly see the DGB drop to reach the $0.022 support stage.

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The MACD developed a bearish crossover and pushed under the zero line to send a clear signal to sell. Over the last few days, OBV has noticed an improvement in sales volume.

Longer timeframes reveal that DGB trades between a range between $0.022 and $0.028, labelling these ranges as clear regions of demand and supply.

Monero [XMR]

Ethereum, Monero, DigiByte Price Analysis: 18 January

Source: XMR/USDT on TradingView

Using the Fibonacci Retracement Function to pass XMR from $128 to $190, certain stages of retracement are illustrated. Over the last two days, the 61.8 per cent retracement level of $149, which correlates with the historic level of support, has been checked twice.

The price was steadily declining, and at the time of writing it was below the 50 percent retracement mark. The RSI slipped below the neutral 50 value, suggesting that the trend was bearish in the short term.

Below $149 is the $139 standard of funding for XMR.

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