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Ethereum, Monero, DigiByte Price Analysis: 18 January

Akashnath Sumukar

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Ethereum headed lower to a level of support at $1150, and if bulls are unable to defend this level, ETH could be headed to the $1000 region. Monero has been slipping lower on the charts over the past week, while DigiByte formed a descending triangle pattern and was poised for a breakout.

Ethereum [ETH]

Ethereum, Monero, DigiByte Price Analysis: 18 January

Source: ETH/USD on TradingView

ETH was trading within a range (cyan) from $975 to $1290. Within this range, it had formed an ascending channel (orange) over the past few days but faced resistance from the $1290 level and was unable to climb above it.

The Awesome Oscillator registered red bars on its histogram to show weakening bullish momentum. ETH closed a trading session beneath the rising channel, signaling a downward move.

Losing the $1150 level to the bears will add strength to bearish pressure and could see ETH test the $1000 region as support.

Monero [XMR]

Ethereum, Monero, DigiByte Price Analysis: 18 January

Source: XMR/USDT on TradingView

Using the Fibonacci Retracement tool for XMR’s move up from $128 to $190, some levels of retracement are highlighted. Over the past few days, the 61.8% retracement level at $149, which coincides with a historic level of support, has been tested twice.

The price has been slowly sliding downward, and at the time of writing, it was below the 50% retracement level. The RSI slipped beneath the neutral 50 value and indicated that momentum was bearish in the short-term.

Beneath $149 lies the $139 level of support for XMR.

DigiByte [DGB]

Ethereum, Monero, DigiByte Price Analysis: 18 January

Source: DGB/USDT on TradingView

The 1-hour timeframe was analyzed for DGB and showed it was poised for a breakout as it formed a descending triangle pattern. Closing above the pattern will see DGB rise to test the $0.028 level once more while closing beneath the pattern will likely see DGB drop to test the $0.022 level of support.

The MACD formed a bearish crossover and was moving beneath the zero line to give a strong sell signal. The OBV noted rising selling volume over the past couple of days.

The longer timeframes show that DGB is trading within a range from $0.022 and $0.028, marking these levels as strong regions of demand and supply.


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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.