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XRP, Augur, Synthetix Price Analysis: 25 October

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The Crypto Fear and Greed Index noted an extremely greedy figure of 76 for the day, a figure that was higher than the previous day’s 73. XRP was forming a bullish pattern right under a level of resistance, while Augur lacked the momentum to move the asset upwards or downwards on the charts. However, it presented a possibility that it might break out in the coming days or weeks. Further down the crypto-ladder, Synthetix was trending lower and could be set to visit lows last registered in July.


XRP, Augur, Synthetix Price Analysis: 25 Analysis

Source: XRP/USD on TradingView

XRP formed an ascending triangle as it repeatedly tested the level of $0.26 over the past few days. As Bitcoin moved past $13,000, XRP also moved up with it and registered gains of near 8% over the past few days.

The price did not break out of the pattern. A confirmation would be if XRP broke out accompanied by good trading volume, with a projected upside target of $0.29.

The Awesome Oscillator also registered bullish momentum. Interestingly, this pattern also had the possibility of a breakout to the downside, invalidating the pattern. In that case, the $0.24-level could offer support.

In related news, Brad Garlinghouse, CEO of Ripple, revealed that he was considering moving to London over a lack of clear regulations with regard to cryptocurrencies in the US.

Augur [REP]

XRP, Augur, Synthetix Price Analysis: 25 Analysis

Source: REP/USDT on TradingView

Augur formed a rectangle bottom (yellow). This pattern generally sees a breakout to the upside. Yet, at the time of writing, the asset had very little momentum in either direction.

The MACD also agreed as it showed neutral momentum.

A close outside the rectangular pattern would indicate a breakout in that direction, but in the short-term, the volatility for the asset was too low.

Synthetix [SNX]

XRP, Augur, Synthetix Price Analysis: 25 Analysis

Source: SNX/USD on TradingView

SNX formed a descending triangle, with the base of the pattern at $3.5. This pattern indicated that sellers were able to force the price down closer to the support on each occasion, reinforcing bearish pressure on the charts.

A breakout to the downside would see SNX reach a target of $2.85, although there is a chance that a move south could stall in the $3.3 region, before reversing.

The RSI highlighted that the trend for the crypto-asset was bearish over the past month, with brief rallies that were unable to shift the long-term trend.


Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.
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