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BTC/USD Daily Chart Technical Analysis

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Bitcoin is testing long term support and a breakdown could lead to further liquidation.

Analysis

Bitcoin prices continue to grind lower and are hovering near long term support at 5,873. A break below current support could lead to a test of a new range which has a target support near the September 2017 lows at 2,975. Resistance is seen near former support near a 10-day moving average near 6,446. Momentum is negative but decelerating as the MACD (moving average convergence divergence) generated prints in the red, but the trajectory of the MACD histogram is flat reflects consolidation. The fast stochastic generated a crossover buy signal in oversold territory which generally reflects a bottom. The current reading of 29, is above the oversold trigger level and in neutral territory.

Up-side Target:       6,446

Down-side Target:  5,873

ETH/USD Daily Chart Technical Analysis

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ETH/USD is consolidating in a downtrend above the 2018 lows.

ETH/USD is trading sideways above support near and upward sloping trend line that comes in near 410. Resistance is seen near the 10-day moving average at 496. Momentum is negative as the MACD (moving average convergence divergence) histogram prints in the red with a declining trajectory which reflects consolidation. The fast stochastic generated a crossover buy signal in oversold territory which generally reflects a bottom. The current reading of 26, is above the oversold trigger level and in neutral territory.

Up-side Target:       511.23

Down-side Target:  400.00

LTC/USD Daily Chart Technical Analysis

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LTC is trading grinding lower after breaking through the February 2018 lows.

LTC/USD is trading under pressure after breaking down through long term support near the February lows at 100. Resistance is seen near the 10-day moving average at 91. Momentum is negative but decelerating as prices move sideways. The MACD histogram is printing in the red with a downward to flattish sloping trajectory which points to consolidation. The fast stochastic generated a crossover buy signal in oversold territory and is currently printing a reading of 17, below the oversold trigger level of 20 and could foreshadow a correction.

Up-side Target:       0.63

Down-side Target: 0.48

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