Daily Technical Analysis | Bitcoin | Ether | Ripple 2/15/2018
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ETH/USD Daily Chart Technical Analysis
Our preference: The bias is to the upside as prices held support as momentum turns positive
Alternative scenario: look to reverse on a close below support levels near an upward sloping trend line
Support
Short-term 10-day moving average near 819.51.
Medium Term, upward sloping trend line at 592.
Resistance
Downward sloping trend line at 1,000
Comment: Momentum has turned positive as the MACD (moving average convergence divergence) generated a crossover buy signal. The MACD histogram also generated a buy signal by crossing above the center line. The RSI (relative strength index) broke out above trend line resistance reflecting accelerating positive momentum.
BTC/USD Daily Chart Technical Analysis
Our preference: The bias is to the upside as prices break short term resistance on positive momentum
Alternative scenario: prices are overbought, look to reverse on a close below short-term support
Support
Short-term 10-day moving average near 8,238.
Medium Term, support - upward sloping trend line at 6,000.
Resistance
Short-term resistance - downward sloping trend line at 9,300.
Medium-term resistance 11,628
Comment: Momentum has turned positive as the MACD (moving average convergence divergence) generated a crossover buy signal. The MACD histogram also generated a buy signal by crossing above the center line. The short-term stochastic surged higher reflecting accelerating positive momentum, although the current reading is overbought above the 80-overbought trigger level which could foreshadow a correction.
XRP/USD Daily Chart Technical Analysis
Our preference: The bias is to the upside on a break of short-term resistance as momentum turned positive.
Alternative scenario: prices are approaching overbought levels, look to reverse on a close below short-term support.
Support
Short-term 10-day moving average near 0.897.
Medium Term, support – February lows at 0.602
Resistance
Short-term resistance – 23.6% Fibonacci retracement at 1.24
Medium-term resistance 38.2% Fibonacci retracement at 1.64
Comment: Momentum has turned positive as the MACD (moving average convergence divergence) generated a crossover buy signal. The MACD histogram also generated a buy signal by crossing above the center line.
Our preference: The bias is to the upside as prices held support as momentum turns positive
Alternative scenario: look to reverse on a close below support levels near an upward sloping trend line
Support
Short-term 10-day moving average near 819.51.
Medium Term, upward sloping trend line at 592.
Resistance
Downward sloping trend line at 1,000
Comment: Momentum has turned positive as the MACD (moving average convergence divergence) generated a crossover buy signal. The MACD histogram also generated a buy signal by crossing above the center line. The RSI (relative strength index) broke out above trend line resistance reflecting accelerating positive momentum.
BTC/USD Daily Chart Technical Analysis
Our preference: The bias is to the upside as prices break short term resistance on positive momentum
Alternative scenario: prices are overbought, look to reverse on a close below short-term support
Support
Short-term 10-day moving average near 8,238.
Medium Term, support - upward sloping trend line at 6,000.
Resistance
Short-term resistance - downward sloping trend line at 9,300.
Medium-term resistance 11,628
Comment: Momentum has turned positive as the MACD (moving average convergence divergence) generated a crossover buy signal. The MACD histogram also generated a buy signal by crossing above the center line. The short-term stochastic surged higher reflecting accelerating positive momentum, although the current reading is overbought above the 80-overbought trigger level which could foreshadow a correction.
XRP/USD Daily Chart Technical Analysis
Our preference: The bias is to the upside on a break of short-term resistance as momentum turned positive.
Alternative scenario: prices are approaching overbought levels, look to reverse on a close below short-term support.
Support
Short-term 10-day moving average near 0.897.
Medium Term, support – February lows at 0.602
Resistance
Short-term resistance – 23.6% Fibonacci retracement at 1.24
Medium-term resistance 38.2% Fibonacci retracement at 1.64
Comment: Momentum has turned positive as the MACD (moving average convergence divergence) generated a crossover buy signal. The MACD histogram also generated a buy signal by crossing above the center line.
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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.