Daily Technical Analysis | BTC | Ethereum | Ripple 3/6/2018

BTC/USD Daily Chart Technical Analysis

Our preference: The bias is neutral to negative

Alternative scenario: look to sell on a close below support near 10,787

Support

The 10-day moving average at 10,787

Resistance

Near a downward sloping trend line at 13,352

Comment: Prices failed on a breakout above trend line resistance and the February highs at 11,775.  The fast stochastic generated a crossover sell signal in overbought territory which has led to accelerating negative momentum and a likely test of support.

Target: 10,787

Ethereum? Daily Chart Technical Analysis

Our preference: The bias is neutral to negative as prices consolidated just below resistance

Alternative scenario: prices could reverse above the 100-day moving average which is former support now resistance.

Support

An upward sloping trend line that comes in near 623

Resistance

Resistance is the 100-day moving average at 848

Comment: Ethereum? has slide through support now resistance near the 100-day moving average at 848. Prices are consolidating with historical volatility hitting the lowest levels of the year as reflected by the low levels of the Bollinger band width. This means that prices are building energy and poised to move. Momentum is neutral as the MACD (moving average convergence divergence) histogram prints near the zero-index level with a flat trajectory which reflects consolidation.

Target: 623

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Ripple Daily Chart Technical Analysis

Our preference: The bias is neutral to negative

Alternative scenario: prices could higher on a break of resistance near the 50-day moving average at 1.0647.

Support

The March lows at 0.8850

Resistance

The 50-day moving average at 1.0647.

Comment: Prices are consolidating as short-term momentum has turned negative. The fast stochastic has generated a crossover sell signal in the middle of the neutral range which reflects slightly accelerating negative momentum. The 50-day moving average has crossed below the 100-day moving average which shows that a medium term down trend is now in place. Historical volatility is at 3-month lows, which shows that prices are storing energy and poised to move.

Target: 0.5620.