Daily Technical Analysis | Ether | Bitcoin | Ripple 2/27/2018

ETH/USD Daily Chart Technical Analysis

Our preference: The bias is to the upside

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

Support

The 10-day moving average at 866

Resistance

Near the February highs at 982

Comment: Prices broke through trend line resistance and are now poised to test target resistance near 982. 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. Historical volatility as represented by the Bollinger band low shows that energy has been stored during consolidation and is ready to explode higher and a breakout. Since December, a Bollinger band width at this level foreshadowed an upside breakout

Target: 982

BTC/USD 60-minute Chart Technical Analysis

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 the 10-hour moving average could lead to a test of the 10,137 level

Support

Short-term 10-hour moving average at 10,679

Resistance

Resistance – 61.8% Fibonacci Retracement level at 10,841

Comment: BTC is forming an hourly bull flag pattern, which is a pause that refreshes higher. A break of resistance near the 61.8% Fibonacci retracement level would lead to a test of the 78% retracement level at 11,249. While hourly momentum is positive, the fast stochastic is overbought and will need further consolidation to move below the 80-overbought trigger level.

Target: 11,249

XRP/USD Daily Chart Technical Analysis

Our preference: The bias is positive as volatility is very low – never sell quiet market

Alternative scenario: prices could move lower and through the 20-hour moving average at 0.9337 and fall to the Bollinger band low at 0.9142.

Support

The 20-hour moving average at 0.9337

Resistance

The Bollinger band high at 0.9532

Comment: Prices are forming a bottom and are hovering near the 20-hour moving average.  Historical volatility is very low and when this occurred during the past week prices popped higher. Hourly momentum has turned negative as the MACD (moving average convergence divergence) generated a crossover sell signal. The safe trade is to buy at 0.9142 and take profit at 0.9532. A more risk trade is to buy at the 20-hour moving average and stop on a break down below the Bollinger band low at 0.9337.

Target: 0.9800