BitcoinShort
Trend Analysis: BTC ETH XRP BCH LTC
BTC/USD
Overview:
The trend for Bitcoin remains descending. All the highs and lows of the price have a decreasing trend, which is typical for the bear market.
Current situation:
Bitcoin price came out of the consolidation level upwards and today reached the level of $6900. We expect the continuation of growth to the level of $7160 and possibly higher. The main driver in the market will be the ProShares Bitcoin ETF application.
Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6200; $5800; $5400; $4500
Forecast:
We continue to expect the end of the correction of Bitcoin's price in the $7000- $7500 zone. After the end of the correction, we forecast a decrease in the asset to levels: $5800, $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The Ethereum quotation followed Bitcoin to $300 and retreated to $280. If the price can stand on current values, the growth will continue to the previously voiced zone of $350- $380. This growth is corrective, after a strong fall in price.
Resistance levels: $300; $325; $350; $380; $400.
Support levels: $280; $250; $240, $220, $180.
Forecast:
Continuation of the price reduction of the Ethereum from the zone of $350- $380 and the target in the $240- $220 zone.
XRP/USD
Overview:
The trend is downward.
Current situation:
The quotation of Ripple went from consolidation up to the level of $0.35. At the moment, the price of XRP/USD is trying to test the support level of $0.33. We expect the continued growth in the price of Ripple to the $0.38- $0.42 zone, after which the price will continue to fall to the level of $0.24.
Resistance levels: $0.36; $0.38; $0.40; $0.44; $0.47; $0.52; $0.54.
Support levels: $0.32; $0.30; $0.28; $0.24; $0.22.
Forecast:
Continuation of the decline in the price of Ripple from the zone $0.38- $0.42 and the target at $0.24.
BCH/USD
Overview:
The trend is bearish.
Current situation:
Bitcoin Cash was no exception and rose to $575. At the moment the quotation is trading near the $550 mark. If the price can overcome the level of $600, the price increase will continue to the $650- $680 zone.
Resistance levels: $585; $600; $620; $650; $680.
Support levels: $540; $500; $470; $450; $400.
Forecast:
Reduction of the Bitcoin Cash price from the level of $680 and the first target near the $450 mark.
LTC/USD
Overview:
The trend is bearish.
Current situation:
We continue to expect the correction of LTC/USD price up to the $65- $70 zone. After that, the continued decline in the LTC/USD quotation in the direction of the trend, to $46. We do not exclude the option of Litecoin price lowering to $46, without correction to the specified zone ($65- $70).
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continued reduction in the price of Litecoin, after the correction, is over in the $65- $70 zone. The goal of the decrease is $46.
Overview:
The trend for Bitcoin remains descending. All the highs and lows of the price have a decreasing trend, which is typical for the bear market.
Current situation:
Bitcoin price came out of the consolidation level upwards and today reached the level of $6900. We expect the continuation of growth to the level of $7160 and possibly higher. The main driver in the market will be the ProShares Bitcoin ETF application.
Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6200; $5800; $5400; $4500
Forecast:
We continue to expect the end of the correction of Bitcoin's price in the $7000- $7500 zone. After the end of the correction, we forecast a decrease in the asset to levels: $5800, $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The Ethereum quotation followed Bitcoin to $300 and retreated to $280. If the price can stand on current values, the growth will continue to the previously voiced zone of $350- $380. This growth is corrective, after a strong fall in price.
Resistance levels: $300; $325; $350; $380; $400.
Support levels: $280; $250; $240, $220, $180.
Forecast:
Continuation of the price reduction of the Ethereum from the zone of $350- $380 and the target in the $240- $220 zone.
XRP/USD
Overview:
The trend is downward.
Current situation:
The quotation of Ripple went from consolidation up to the level of $0.35. At the moment, the price of XRP/USD is trying to test the support level of $0.33. We expect the continued growth in the price of Ripple to the $0.38- $0.42 zone, after which the price will continue to fall to the level of $0.24.
Resistance levels: $0.36; $0.38; $0.40; $0.44; $0.47; $0.52; $0.54.
Support levels: $0.32; $0.30; $0.28; $0.24; $0.22.
Forecast:
Continuation of the decline in the price of Ripple from the zone $0.38- $0.42 and the target at $0.24.
BCH/USD
Overview:
The trend is bearish.
Current situation:
Bitcoin Cash was no exception and rose to $575. At the moment the quotation is trading near the $550 mark. If the price can overcome the level of $600, the price increase will continue to the $650- $680 zone.
Resistance levels: $585; $600; $620; $650; $680.
Support levels: $540; $500; $470; $450; $400.
Forecast:
Reduction of the Bitcoin Cash price from the level of $680 and the first target near the $450 mark.
LTC/USD
Overview:
The trend is bearish.
Current situation:
We continue to expect the correction of LTC/USD price up to the $65- $70 zone. After that, the continued decline in the LTC/USD quotation in the direction of the trend, to $46. We do not exclude the option of Litecoin price lowering to $46, without correction to the specified zone ($65- $70).
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continued reduction in the price of Litecoin, after the correction, is over in the $65- $70 zone. The goal of the decrease is $46.
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