The major cryptocurrencies consolidated their recent gains after hitting resistance levels. Last week, prices bounced off support levels and are testing higher ground. It is unclear whether recent U.S. aggression in Syria will continue to buy crypto prices.
BTC/USD Daily Chart Technical Analysis
Forecast
Bitcoin is testing resistance levels, and although momentum is positive, the exchange rate is overbought.
Analysis
BTC/USD is consolidating the gains it experienced during the latter part of last week. Prices have hit resistance near the Bollinger band high which his 2-standard deviations above the 20-day moving average. The fast stochastic generated a crossover sell signal in overbought territory which reflects that the exchange rate is overextended. Momentum as reflected by the MACD is positive, as the MACD histogram prints in the black with a rising trajectory which points to higher prices. Support is seen near the 20-day moving average at
Up-side Target: 9,174
Down-side Target: 8,081
XRP/USD Daily Chart Technical Analysis
Forecast
Ripple is consolidating and forming a bull flag pattern which is a pause that refreshes higher.
Ripple prices are consolidating after running up from support levels near the 10-day moving average at 0.5782. Resistance is seen near a downward sloping trend line that comes in near 0.7838. Momentum is positive as reflected by the MACD histogram which is printing in the black with an upward sloping trajectory. The fast stochastic on the other hand has generated a crossover sell signal in oversold territory which points to lower prices.
Up-side Target: 0.7838
Down-side Target: 0.5782
LTC/USD 2-hour Chart Technical Analysis
Forecast
Litecoin is moving sideways in a relatively tight range, having dipped into oversold territory.
Litecoin prices are consolidating in a tight range on Monday, after bouncing from its recent lows last week. Support is seen near the April 13, lows at 124.30, while resistance is seen near last weeks high at 133.60. Momentum is neutral to negative as the fast stochastic bouncing from oversold territory but generating a crossover sell signal.
Up-side Target: 133.60
Down-side Target: 124.30
