Bitcoin, Ethereum and Litecoin: Price Analysis
The major cryptocurrencies are moving lower on Monday as riskier assets rebounded following last week’s tumble. Prices are declining for the 3rd consecutive trading day but will likely face support as the market appears to be range bound.
View
Bitcoin has sliced through support near the 10-day moving average which appears to be strong resistance.
Analysis
Bitcoin prices moved lower slipping through the 10-day moving average which is now seen as resistance at 8,517. Target support on BTC is seen near an upward sloping trend line that connects the lows in February to the lows in March that comes in near 7,880. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. The fast stochastic also generated a crossover sell signal pointing to lower prices.
Up-side Target: 8,517
Down-side Target: 7,880
View
Ethereum is breaking down after testing the neckline of a head and shoulder reversal pattern.
Analysis
Ethereum prices are declining after testing the neckline of a head and shoulder reversal pattern. Resistance is seen near the 10-day moving average at 537. Support is seen near the March lows at 453. Momentum is negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. The fast stochastic generated a crossover sell signal which points to lower prices.
Up-side Target: 537
Down-side Target: 453
Forecast
Litecoin has sliced through support and is poised to test long term support near an upward sloping trend line.
Litecoin prices broke through support which is now seen as resistance near the 10-day moving average at 160. Support is seen near an upward sloping trend line that comes in near 144. A break of this level would lead to a test of the March lows at 137. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover buy signal. The fast stochastic also generated a sell signal which points to lower prices.
Up-side Target: 160
Down-side Target: 144 and 137
BTC/USD Daily Chart Technical Analysis
View
Bitcoin has sliced through support near the 10-day moving average which appears to be strong resistance.
Analysis
Bitcoin prices moved lower slipping through the 10-day moving average which is now seen as resistance at 8,517. Target support on BTC is seen near an upward sloping trend line that connects the lows in February to the lows in March that comes in near 7,880. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. The fast stochastic also generated a crossover sell signal pointing to lower prices.
Up-side Target: 8,517
Down-side Target: 7,880
ETH/USD Daily Chart Technical Analysis
View
Ethereum is breaking down after testing the neckline of a head and shoulder reversal pattern.
Analysis
Ethereum prices are declining after testing the neckline of a head and shoulder reversal pattern. Resistance is seen near the 10-day moving average at 537. Support is seen near the March lows at 453. Momentum is negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. The fast stochastic generated a crossover sell signal which points to lower prices.
Up-side Target: 537
Down-side Target: 453
LTC/USD Daily Chart Technical Analysis
Forecast
Litecoin has sliced through support and is poised to test long term support near an upward sloping trend line.
Litecoin prices broke through support which is now seen as resistance near the 10-day moving average at 160. Support is seen near an upward sloping trend line that comes in near 144. A break of this level would lead to a test of the March lows at 137. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover buy signal. The fast stochastic also generated a sell signal which points to lower prices.
Up-side Target: 160
Down-side Target: 144 and 137
Was this helpful?
0 found this helpful · 0 did not
Thanks for your feedback.
Where to trade this market
Brokers compared on regulation, platforms, and account access.
eToro Social and copy trading
4.7
FCACySECASIC
Min. deposit From $10
Spread Variable
Platform Web / App
AvaTrade Multi-asset CFD broker
4.5
CBIASICCySEC
Min. deposit $100
Spread From 0.9 pips
Platform MT4 / MT5
Plus500 CFD trading platform
4.3
FCACySECASIC
Min. deposit Varies
Spread Variable
Platform WebTrader / App
Relatedanalysis
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.