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Bitcoin, Ethereum and Litecoin Price Analysis

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May 2, 2018 | 

Joanna Newman |  0 Comments| 

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BTC/USD Daily Chart Technical Analysis

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Bitcoin prices are moving sideways forming a bull flag pattern which is a pause that refreshes higher.

Analysis

BTC/USD prices are consolidating after breaking out into a new range.  Prices have been unable to pierce through target resistance near a downward sloping trend line that comes in near 9,417. Short-term resistance is seen near the 10-day moving average at 9,185. Support is seen near 50-day moving average at 8,109. Short-term momentum has turned negative as the short-term stochastic generated a crossover sell signal. The MACD is showing that positive momentum is decelerating, as the MACD histogram is printing near the zero-index level with a flat trajectory which reflects consolidation.

Up-side Target:       9,417

Down-side Target: 8,109

ETH/USD Daily Chart Technical Analysis

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Ethereum prices have been moving sideways forming a bull flag pattern, which is a pause that refreshes higher.

ETH/USD moved sideways forming a bull flag pattern which is a pause that refreshes higher.  Support is seen near the 10-day moving average at 666. Resistance is seen near the 38.2% Fibonacci retracement at 775. Positive momentum is decelerating as the MACD (moving average convergence divergence) histogram prints in the black with a declining trajectory which points to consolidation. The fast stochastic is printing a reading of 84, above the overbought trigger level of 80 which could foreshadow a correction.

Up-side Target:       0.8500

Down-side Target:  0.7830

LTC/USD Daily Chart Technical Analysis

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LTC/USD prices are consolidating, as momentum decelerates.

LTC/USD prices are consolidating and moving sideways testing support near the 50-day moving average at 140. Resistance is seen near the 10-day moving average at 151. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. Short-term momentum has also turned negative as the short-term stochastic generated a crossover sell signal. Prices are likely to test the 50-day moving average before resuming higher.

Up-side Target:       151

Down-side Target: 140

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