Bitcoin, Ethereum and Litecoin: Price Analysis
The major cryptocurrencies moving higher as momentum turns positive. Prices are bouncing for the 4th consecutive trading day but will likely face tough resistance near some major moving averages.
Forecast
Bitcoin has bounced from support as momentum turns positive and poised to test target resistance.
Analysis
Bitcoin prices are moving higher as momentum turns positive. The MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average crosses above the MACD signal line (the 9-day moving average of the MACD line). Target support is the March lows at 7,325, while target resistance is seen near the 50-day moving average at 9,450.
Up-side Target: 9,450
Down-side Target: 7,325
Forecast
Ethereum is bouncing after breaking down through a head and shoulder reversal pattern.
Analysis
Ethereum prices are bouncing from oversold territory after breaking down through the neckline of a head and shoulder reversal pattern. The RSI (relative strength index) rebounded from oversold territory below 30. The fast stochastic generated a crossover buy signal in oversold territory which points to lower prices. Look for ETH/USD to test the neckline near 650 before reversing lower.
Up-side Target: 650
Down-side Target: 453
Forecast
Litecoin has broke out through trend line support and is poised to test target resistance.
Litecoin prices broke through trend line support and are poised to test target resistance near the March 10, highs at 195. Support is seen near the former breakout level near 165. Momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. The fast stochastic also generated a buy signal from oversold territory which points to higher prices.
Up-side Target: 195
Down-side Target: 165
BTC/USD Daily Chart Technical Analysis
Forecast
Bitcoin has bounced from support as momentum turns positive and poised to test target resistance.
Analysis
Bitcoin prices are moving higher as momentum turns positive. The MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average crosses above the MACD signal line (the 9-day moving average of the MACD line). Target support is the March lows at 7,325, while target resistance is seen near the 50-day moving average at 9,450.
Up-side Target: 9,450
Down-side Target: 7,325
ETH/USD Daily Chart Technical Analysis
Forecast
Ethereum is bouncing after breaking down through a head and shoulder reversal pattern.
Analysis
Ethereum prices are bouncing from oversold territory after breaking down through the neckline of a head and shoulder reversal pattern. The RSI (relative strength index) rebounded from oversold territory below 30. The fast stochastic generated a crossover buy signal in oversold territory which points to lower prices. Look for ETH/USD to test the neckline near 650 before reversing lower.
Up-side Target: 650
Down-side Target: 453
LTC/EUR Daily Chart Technical Analysis
Forecast
Litecoin has broke out through trend line support and is poised to test target resistance.
Litecoin prices broke through trend line support and are poised to test target resistance near the March 10, highs at 195. Support is seen near the former breakout level near 165. Momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. The fast stochastic also generated a buy signal from oversold territory which points to higher prices.
Up-side Target: 195
Down-side Target: 165
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Disclaimer. This content is for informational and educational purposes only. It does not constitute financial advice, a recommendation, or an offer to buy or sell any security or digital asset. Past performance does not guarantee future results. Cryptocurrency investments are subject to high market risk and volatility.