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.

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

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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