LitecoinShort
Trend Analysis: BTC ETH XRP BCH LTC
BTC/USD
Overview:
Bitcoin trend 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 to an important resistance level if it is to overcome it and to gain a foothold above the $6300 level, the next target will be the resistance level in the zone $6750-$6850. The BTC/USD quotation may also go down from the current level ($6300), but we consider this option unlikely.
Resistance level: $6000; $6750, $6850, $7000, $7160; $7500.
Support levels: $6300; $5800; $5450.
Forecast:
Bitcoin's price will continue its decline, after the end of the correction up to the $6750- $6850 zone. The goal of reducing the asset, we expect at $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The quotation of Ethereum is close to $280. If buyers manage to overcome the level of $300, then the following goals will be at the levels: $325, $350. The maximum correction level is $385. We predict after the end of the correction, the continuation of the price reduction to the $250- $240 zone.
Resistance levels: $300; $325; $350; $380; $400.
Support levels: $280; $250; $240.
Forecast:
Continuation of the reduction of the price of the Ethereum from the zone of $325- $350 and the target in the $250- $240 zone.
XRP/USD
Overview:
Downtrend
The current situation: The price of Ripple rose to $0.29- $0.30 and is currently near this zone. We forecast a price move higher to the $0.32- $0.35 zone. After the correction is over, we expect the price to continue falling to a mark near the level of $0.24.
Resistance levels: $0,30; $0,32; $0,36; $0,38; $0,40; $0,44; $0,47; $0,52; $0,54.
Support levels: $0,28; $0,24; $0,22.
Forecast:
The continued decline in the price of Ripple from the $0.32- $0.35 zone and the target at $0.24.
BCH/USD
Overview:
Trend is bearish.
Current situation:
The BCH / USD quotation is trading above the $500 level. We expect the price to continue to increase as part of the correction to the zone: $550- $585. After the end of the correction, we forecast a continuation of the price reduction to the $450- $400 zone.
Resistance levels: $550; $585; $600; $620; $650; $680.
Support levels: $500; $470; $450; $400.
Forecast:
Continued decrease in Bitcoin Cash price from $550- $585 zone and near $450 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The price of Litecoin is trading above $55. If the price manages to gain a foothold above this level, the correction will continue to the $58- $60 zone. From this price zone, we expect the LTC / USD price to continue to fall to $46.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continuation of price reduction after price correction to the $58- $60 zone. The goal of the decrease is $46.
Overview:
Bitcoin trend 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 to an important resistance level if it is to overcome it and to gain a foothold above the $6300 level, the next target will be the resistance level in the zone $6750-$6850. The BTC/USD quotation may also go down from the current level ($6300), but we consider this option unlikely.
Resistance level: $6000; $6750, $6850, $7000, $7160; $7500.
Support levels: $6300; $5800; $5450.
Forecast:
Bitcoin's price will continue its decline, after the end of the correction up to the $6750- $6850 zone. The goal of reducing the asset, we expect at $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The quotation of Ethereum is close to $280. If buyers manage to overcome the level of $300, then the following goals will be at the levels: $325, $350. The maximum correction level is $385. We predict after the end of the correction, the continuation of the price reduction to the $250- $240 zone.
Resistance levels: $300; $325; $350; $380; $400.
Support levels: $280; $250; $240.
Forecast:
Continuation of the reduction of the price of the Ethereum from the zone of $325- $350 and the target in the $250- $240 zone.
XRP/USD
Overview:
Downtrend
The current situation: The price of Ripple rose to $0.29- $0.30 and is currently near this zone. We forecast a price move higher to the $0.32- $0.35 zone. After the correction is over, we expect the price to continue falling to a mark near the level of $0.24.
Resistance levels: $0,30; $0,32; $0,36; $0,38; $0,40; $0,44; $0,47; $0,52; $0,54.
Support levels: $0,28; $0,24; $0,22.
Forecast:
The continued decline in the price of Ripple from the $0.32- $0.35 zone and the target at $0.24.
BCH/USD
Overview:
Trend is bearish.
Current situation:
The BCH / USD quotation is trading above the $500 level. We expect the price to continue to increase as part of the correction to the zone: $550- $585. After the end of the correction, we forecast a continuation of the price reduction to the $450- $400 zone.
Resistance levels: $550; $585; $600; $620; $650; $680.
Support levels: $500; $470; $450; $400.
Forecast:
Continued decrease in Bitcoin Cash price from $550- $585 zone and near $450 mark.
LTC/USD
Overview:
Trend is bearish.
Current situation:
The price of Litecoin is trading above $55. If the price manages to gain a foothold above this level, the correction will continue to the $58- $60 zone. From this price zone, we expect the LTC / USD price to continue to fall to $46.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continuation of price reduction after price correction to the $58- $60 zone. The goal of the decrease is $46.
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