Daily Technical Analysis | Ether | Bitcoin | Ripple 2/26/2018

Our preference: The bias is to the upside

Alternative scenario: look to reverse on a close below support near 800

Support

Short-term 20-day moving average near 867.50.

Resistance

Near the 10-day moving average at 875

Comment: Prices are testing trend line resistance which comes in near the 10-day moving average at 875. A break of this level would likely target the February highs at 891.  Momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. The fast stochastic also generated a crossover buy signal and points to higher prices.

Target: 891

Our preference: The bias is to the upside as prices consolidated just above support

Alternative scenario: prices are testing support levels and a drop below could lead to a long liquidation

Support

Short-term 50-day moving average near 9,701.

Resistance

Resistance – A downward sloping trend line at 10,890

Comment: BTC tested trend line resistance but was unable to recapture this level, and is now forming a bull flag continuation pattern which is a pause that refreshes higher. Momentum is neutral as the MACD (moving average convergence divergence) histogram prints near the zero-index level with a flat trajectory which reflects consolidation. This is confirmed but the RSI (relative strength index) which is a printing a reading of 47, which is in the middle of the neutral range and also reflects consolidation.

Target: 10,890

XRP/USD Daily Chart Technical Analysis