Crypto Worth Evaluation & Overview September 3: Ethereum, Ripple, Cardano, Solana and Polkadot – CryptoPotato

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ether

Ethereum is up a very solid 27% in the last week of trading as the cryptocurrency returns to $ 4000 levels. The cryptocurrency has been trading within an ascending triangle pattern since it hit resistance at USD 3350 (bearish 0.618 Fib) in early August.

On Tuesday, ETH finally jumped over $ 3,350 to $ 3,400. It sat higher throughout the week and continued to rise today to hit the current resistance of $ 3975 (1.272 Fib Extension).

Looking ahead, the first strong resistance is at $ 4000. This is followed by $ 4060 (1,414 Fib Extension – blue), $ 4200 (1,414 Fib Extension – orange) and $ 4400 (1,618 Fib Extension – blue). The additional resistance is $ 4535 (1.618 Fib Extension – orange) and $ 4600.

On the flip side, initial support is at $ 3800. This is followed by USD 3740 (0.236 Fib), USD 3590 (0.382 Fib), USD 3470 (0.5 Fib0) and USD 3350 (20-day MA).

ethusd-sep3-minETH / USD daily chart. Source: TradingView.

ETH is also doing well against BTC this week as it hits a three-month high at around 0.0785 BTC. The coin has been trading on a descending price channel since mid-August when it failed to break 0.07 BTC.

On Monday, ETH finally broke this channel and started climbing above the 20-day MA. By Wednesday, ETH had hit as low as 0.0785 BTC to set the new three-month high. It has since fallen from the weekly high but is doing well to hold support at 0.0765 BTC.

Looking ahead, the first resistance will be at 0.08 BTC once the bulls break 0.0785 BTC. This is followed by 0.082 BTC (May highs), 0.0839 BTC (1,414 Fib Extension), 0.0865 BTC (1,618 Fib Extension) and 0.088 BTC.

On the other hand, the initial support is at 0.0765 BTC. This is followed by 0.0752 BTC (0.236 Fib), 0.0733 BTC (August high), 0.072 BTC, 0.07 BTC (0.618 Fib).

ethbtc-sep3-minETH / BTC daily chart. Source: TradingView.

Ripple

XRP is up a respectable 17% this week as the cryptocurrency breaks back above 2018 highs at $ 1.25. The coin traded in a symmetrical triangle pattern through the second half of August and broke up into that triangle on Tuesday.

Since breaking the triangle, XRp has started rising to meet current resistance at USD 1.28 (beraish 0.618 Fib) and is still below the August highs of USD 1.36 (1.618 Fib Extension).

If buyers break through $ 1.30, the initial resistance will be at $ 1.36. This is followed by resistance at $ 1.50 (bearish 0.786 fib), $ 1.55 (1.414 fib extension), $ 1.62 (bearish 0.886 fib) and $ 1.72.

On the flip side, initial support is at $ 1.25 (February 2018 high). This is followed by $ 1.20 (20-day MA), 1.10 (0.382 Fib), 1.00 USD, and 0.928 (0.618 Fib and 50-day MA).

xrpusd-sep3-minXRP / USD daily chart. Source: TradingView.

XRP is rising against BTC this week as it breaks above the 20 day MA at around 2500 SAT. The cryptocurrency traded in a descending wedge formation but found support at 2290 SAT (0.382 Fib) towards the end of August.

On Tuesday, the XRP rose above the descending wedge and past the 20-day MA. XRP has managed to hit 2600 SAT so far over the week but is struggling to exceed that level.

Looking ahead, the first resistance is at 2600 SAT. This is followed by 2730 SAT (1.618 Fib Extension), 2800 SAT, 2915 SAT (bearish .618 Fib) and 3000 SAT.

On the other hand, the first support is at 2500 SAT (20-day MA). This is followed by 2290 SAT (.382 Fib) m 2150 SAT (.5 Fib & 100-day MA) and 2000 SAT.

xrpbtc-sep3-minXRP / BTC daily chart. Source: TradingView.

Cardano

ADA is up 15.6% overall this week as the coin set a new ATH price of $ 3.16. The cryptocurrency has been trading in an ascending, widening wedge since the first week of August, which has allowed the coin to reach as high as $ 2.95.

This week ADA found support at $ 2.75 and rebounded from the lower bound of the wedge on Wednesday. Yesterday it rose above $ 3.00 to set the new ATH but failed to close above $ 3.00. Today ADA is still below $ 3.00 as buyers struggle to get support above it.

If the bulls break through $ 3, the first strong resistance will be at $ 3.20. This is followed by $ 3.42 (1.272 Fib Extension – Purple), $ 3.66 (1.414 Fib Extension – Purple), $ 3.85 (1.414 Fib Extension – Blue), and 4.00 U.S. dollar.

On the flip side, initial support is at $ 2.90 (lower angle of the wedge). This is followed by $ 2.5 (0.236 Fib), $ 2.60 (20-day MA), $ 2.50 (0.382 Fib), and $ 2.25 (0.5 Fib).

adausd-sep3-minADA / USD daily chart. Source: TradingView.

ADA does well against BTC but continues to struggle to close above the 6000 SAT resistance. He reached this resistance for the first time in early August and, after numerous attempts, had difficulty closing a day candle over it.

Yesterday ADA rose above 6000 SAT but couldn’t close again above it. It also closed below the ascending channel it was trading on – but a break above 6000 SAT would allow the bull swing to continue.

Looking ahead, the first resistance is 6000 SAT. This is followed by 6300 SAT (1,272 Fib Extension), 6540 SAT (1,414 Fib Extension), 6760 SAT (1,618 Fib Extension) and 7000 SAT.

On the other hand, the first support is at 5500 SAT (0.236 Fib & 20-day MA). This is followed by 5100 SAT .382 Fib), 5000 SAT and 4710 SAT (.5 Fib).

adabtc-sep3-minADA / BTC daily chart. Source: TradingView.

Solana

SOL saw a staggering 84% price spike this week as the cryptocurrency set a new ATH price of around $ 145. SOL has been trading in a steeply rising price channel since mid-August and has since risen higher within its limits.

On Monday, SOL broke the $ 100 mark and hit $ 110. The resistance at $ 110 was overcome yesterday when SOL hit $ 128 (1,414 Fib Extension). Today SOL continued to climb to hit the USD 145 resistance (1.618 Fib Extension).

Looking ahead, the first resistance above $ 145 is at $ 150. This is followed by $ 170 (1,272 Fib Extension), $ 180 (1,414 Fib Extension), $ 190, and $ 200.

On the flip side, initial support is at $ 128, followed by $ 117 (0.236 Fib), $ 110, $ 100 (0.382 Fib), $ 90, and $ 85 (0 , 5 Fib & 20-day MA).

solusd-sep3-minSOL / USD daily chart. Source: TradingView.

SOL also continues to do well against BTC as it hits nearly 0.003 BTC this week. It had recovered from 0.0014 BTC in late August to 0.0022 BTC in early September.

The cryptocurrency rose from 0.0024 BTC to 0.0026 BTC yesterday. It continued to break through 0.0026 BTC today, reaching almost as high as 0.003 BTC.

Looking ahead, the first resistance is at 0.00282 BTC (1.618 Fib Extension). This is followed by 0.003 BTC, 0.0032 BTC, 0.00338 BTC (1,272 Fib extension) and 0.0036 BTC (1,414 Fib extension).

On the other hand, the initial support is at 0.0026 BTC. This is followed by 0.00241 BTC (0.236 Fib), 0.0022 BTC, 0.002 BTC and 0.00181 BTC (0.5 Fib & 20-day MA).

Solbtc-sep3-minSOL / BTC daily chart. Source: TradingView.

Speckle

The DOT is up a whopping 35% in the last week of trading as the coin breaks above $ 30. It traded at around $ 25 on Monday but surged above the 200-day MA at $ 27.50 on Tuesday to hit $ 32.61 (1.272 fib extension).

DOT has risen higher from here but is struggling to make above $ 34.

Initial resistance above $ 34 is at $ 35.30 (bearish 0.618 fib). This is followed by $ 38.66 (1.618 fib extension), $ 40, $ 42.10 (bearish 0.786 fib), and $ 46.12 (bearish 0.886 fib).

On the flip side, initial support is at $ 30. This is followed by $ 28.85 (0.236 Fib), $ 27.50 (200-day MA), $ 25.30 (0.382 Fib), and $ 22.45 (0.5 Fib).

dotusd-sep3-minDOT / USD daily chart. Source: TradingView.

DOT also does very well against BTC as it is around 0.00065 BTC. The coin trades within an ascending price channel and took advantage of the support of the lower bound of around 0.0005 BTC to rebound earlier in the week.

On Wednesday, DOT hit resistance at 0.000686 BTC (bearish 0.5 Fib & upper bound of price channel). It has since fallen from there but holds support at 0.0006375 BTC (0.236 Fib).

Looking ahead, the first resistance is at 0.000686 BTC (bearish 0.5 Fib). This is followed by 0.0007 BTC, 0.000764 BTC (bearish 0.618 Fib), 0.0008 BTC and 0.0008600 BTC (1.618 Fib Extension).

On the other hand, the initial support is at 0.0006375 BTC (0.236 Fib). This is followed by 0.0006 BTC (2020 high), 0.0005675 BTC (0.5 Fib), 0.00055 BTC (April lows) and 0.0005 BTC (100-day MA).

dotbtc0sep3-minDOT / BTC daily chart. Source: TradingView.

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Disclaimer: The information found on CryptoPotato is that of the cited authors. It does not represent CryptoPotato’s opinion on whether to buy, sell or hold investments. It is recommended that you do your own research before making any investment decisions. Use the information provided at your own risk. For more information, see Disclaimer.

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