XRPShort
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:
On the hourly chart, the figure of the expanding triangle was formed. We forecast a rise in the price of Bitcoin to the $6750- $6850 zone. After the correction is over, we expect the BTC/USD quotation to continue to decline to $5800, $5400.
Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6300; $5800; $5400.
Forecast:
Bitcoin's price will continue its decline, after the end of the correction up to the $6750- $6850 zone. The goal of the asset reduction is expected at the levels: $5800; $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of Ethereum is trading above the resistance at $280. If the price can overcome resistance $300, then we expect the correction to go up to levels: $325, $350. The maximum predicted level of price correction is ETH/USD up to the level of $380, where the resistance line of the descending channel passes. The cancelation of the scenario of the quotation drop of the Ethereum - the price increase above $400.
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
Current situation:
After finishing the correction up to the $0.32- $0.35 zone, we expect the price to continue falling to the 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:
Bitcoin Cash quotation continues to trade above the $500 level, where the support line of the descending channel passes. We expect the price to rise to the resistance line of this channel in the $550- $585 zone. The maximum level of correction upwards is at the level of $585. After the end of the correction, we predict a BCH/USD 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:
Litecoin price continues to trade above $55. If the price manages to gain a foothold above $60, then the correction will continue to the $65- $70 zone. From this price zone, we expect LTC/USD price to continue to fall to $46. Canceling the short-term scenario - LTC/USD price increase above the level of $72.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continuation of price reduction after price correction to the $65- $70 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:
On the hourly chart, the figure of the expanding triangle was formed. We forecast a rise in the price of Bitcoin to the $6750- $6850 zone. After the correction is over, we expect the BTC/USD quotation to continue to decline to $5800, $5400.
Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6300; $5800; $5400.
Forecast:
Bitcoin's price will continue its decline, after the end of the correction up to the $6750- $6850 zone. The goal of the asset reduction is expected at the levels: $5800; $5400.
ETH/USD
Overview:
The global trend remains descending.
Current situation:
The price of Ethereum is trading above the resistance at $280. If the price can overcome resistance $300, then we expect the correction to go up to levels: $325, $350. The maximum predicted level of price correction is ETH/USD up to the level of $380, where the resistance line of the descending channel passes. The cancelation of the scenario of the quotation drop of the Ethereum - the price increase above $400.
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
Current situation:
After finishing the correction up to the $0.32- $0.35 zone, we expect the price to continue falling to the 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:
Bitcoin Cash quotation continues to trade above the $500 level, where the support line of the descending channel passes. We expect the price to rise to the resistance line of this channel in the $550- $585 zone. The maximum level of correction upwards is at the level of $585. After the end of the correction, we predict a BCH/USD 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:
Litecoin price continues to trade above $55. If the price manages to gain a foothold above $60, then the correction will continue to the $65- $70 zone. From this price zone, we expect LTC/USD price to continue to fall to $46. Canceling the short-term scenario - LTC/USD price increase above the level of $72.
Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.
Forecast:
Continuation of price reduction after price correction to the $65- $70 zone. The goal of the decrease is $46.
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