LitecoinShort
Trend Analysis: BTC ETH XRP BCH LTC
BTC/USD
Overview:
Bitcoin is in a downtrend. The cancellation of the bearish trend will be confirmed by the breakdown and fixing of Bitcoin's price above the level of $9400.
Current situation:
Bitcoin quotation reached the target of $7600 and even exceeded it and fell to $7450, where the support line of the rising channel passes. Bitcoin's price is trying to fight off this support, but the buyers do not have enough forces. If the buyers manage to take Bitcoin's price up, the nearest levels of resistance of quotation growth: $7800, $8000. We also do not exclude the option of reducing the price of BTC / USD to the level of $7200 and after that the corrective price increase to the level of the nearest resistance levels.
We stick to the basic scenario, with the test of the support line price near the zone: $6800- $6660.
Key levels are used by traders to identify immediate targets, limit losses, fix profit, entry points.
Resistance levels: $7800; $8000; $8300; $8500; $8650; $8800; $9120; $9400.
Support levels: $7200; $6800; $6660; $6276; $6354; $6100; $5940; $5780; $5450.
Forecast:
Continuation of the price reduction from the level of $7600 and the target of $7200.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of Ethereum dropped to our target at level $420 and at the moment went lower. If the ETH / USD quotation continues to decline and passes the mark of $400, then the next target will be at level $360. We do not exclude the correction of the price of the Ethereum up from the current level ($420), or from the level of $400 and with the target of $440.
Resistance levels: $440; $485; $515; $555; $585.
Support levels: $400; $360.
Forecast:
Continued reduction in the price of Ethereum to $400.
XRP / USD
Overview:
Downtrend. The cancellation of the downward trend of the Ripple quotation will be a breakthrough of the level of $0.60 and consolidation above this level. An important line of support for the price of XRP / USD is the $0.42- $0.40 zone.
Current situation:
The price of Ripple still could not break through the support of $0.42 and go up to $0.45. On the daily chart of the XRP / USD price, we see tighter consolidation, the exit of which usually comes in the form of a strong impulse. The zone of narrowing consolidation at the moment is in the range: $0.42- $0.47. If the price goes up and consolidates above $0.47, then the growth may continue to the $0.52- $0.60 zone. When implementing a short-term scenario, the price of Ripple is reduced to the level of $0.30.
Resistance levels: $0,47; $0,52; $0,54.
Support levels: $0,43; $0,42; $0,40$; $0,38.
Forecast:
Ripple price drop from the level of $0.45 to $0.40.
BCH / USD
Overview:
The trend is bearish. The key level for the downtrend cancelation is resistance at $1000.
Current situation:
Today, Bitcoin Cash price fell below $750, but it did not reach its second target at $720. We predict a price decline to levels: $720, $700. In case of corrective growth, we expect the maximum growth of the BTC / USD quotation to the level of $780.
Resistance levels: $780; $820; $840; $890; $930; $970; $1020.
Support levels: $720; $820; $780; $750; $720; $680.
Forecast:
Continuation of the BTC / USD price reduction to levels: $720, $700.
LTC/USD
Overview:
Trend is bearish.
Current situation:
Litecoin price fell to $76 and bounced and is currently trading near $78. We expect the price to continue falling to the level of $72, but before the decline, we do not rule out a corrective rise in the price of Litecoin to the level of $80. The cancellation of the scenario will be the breakthrough of the $80 mark from the top downward, and the fixing of the LTC / USD price above this level.
Resistance levels: $80; $90; $94; $100.
Support levels: $75; $72; $66.
Forecast:
Litecoin price drop to levels $75, $72.
Overview:
Bitcoin is in a downtrend. The cancellation of the bearish trend will be confirmed by the breakdown and fixing of Bitcoin's price above the level of $9400.
Current situation:
Bitcoin quotation reached the target of $7600 and even exceeded it and fell to $7450, where the support line of the rising channel passes. Bitcoin's price is trying to fight off this support, but the buyers do not have enough forces. If the buyers manage to take Bitcoin's price up, the nearest levels of resistance of quotation growth: $7800, $8000. We also do not exclude the option of reducing the price of BTC / USD to the level of $7200 and after that the corrective price increase to the level of the nearest resistance levels.
We stick to the basic scenario, with the test of the support line price near the zone: $6800- $6660.
Key levels are used by traders to identify immediate targets, limit losses, fix profit, entry points.
Resistance levels: $7800; $8000; $8300; $8500; $8650; $8800; $9120; $9400.
Support levels: $7200; $6800; $6660; $6276; $6354; $6100; $5940; $5780; $5450.
Forecast:
Continuation of the price reduction from the level of $7600 and the target of $7200.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of Ethereum dropped to our target at level $420 and at the moment went lower. If the ETH / USD quotation continues to decline and passes the mark of $400, then the next target will be at level $360. We do not exclude the correction of the price of the Ethereum up from the current level ($420), or from the level of $400 and with the target of $440.
Resistance levels: $440; $485; $515; $555; $585.
Support levels: $400; $360.
Forecast:
Continued reduction in the price of Ethereum to $400.
XRP / USD
Overview:
Downtrend. The cancellation of the downward trend of the Ripple quotation will be a breakthrough of the level of $0.60 and consolidation above this level. An important line of support for the price of XRP / USD is the $0.42- $0.40 zone.
Current situation:
The price of Ripple still could not break through the support of $0.42 and go up to $0.45. On the daily chart of the XRP / USD price, we see tighter consolidation, the exit of which usually comes in the form of a strong impulse. The zone of narrowing consolidation at the moment is in the range: $0.42- $0.47. If the price goes up and consolidates above $0.47, then the growth may continue to the $0.52- $0.60 zone. When implementing a short-term scenario, the price of Ripple is reduced to the level of $0.30.
Resistance levels: $0,47; $0,52; $0,54.
Support levels: $0,43; $0,42; $0,40$; $0,38.
Forecast:
Ripple price drop from the level of $0.45 to $0.40.
BCH / USD
Overview:
The trend is bearish. The key level for the downtrend cancelation is resistance at $1000.
Current situation:
Today, Bitcoin Cash price fell below $750, but it did not reach its second target at $720. We predict a price decline to levels: $720, $700. In case of corrective growth, we expect the maximum growth of the BTC / USD quotation to the level of $780.
Resistance levels: $780; $820; $840; $890; $930; $970; $1020.
Support levels: $720; $820; $780; $750; $720; $680.
Forecast:
Continuation of the BTC / USD price reduction to levels: $720, $700.
LTC/USD
Overview:
Trend is bearish.
Current situation:
Litecoin price fell to $76 and bounced and is currently trading near $78. We expect the price to continue falling to the level of $72, but before the decline, we do not rule out a corrective rise in the price of Litecoin to the level of $80. The cancellation of the scenario will be the breakthrough of the $80 mark from the top downward, and the fixing of the LTC / USD price above this level.
Resistance levels: $80; $90; $94; $100.
Support levels: $75; $72; $66.
Forecast:
Litecoin price drop to levels $75, $72.
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