Daily Technical Analysis | LTC | Bitcoin Cash | Dash 3/12/2018

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LTC/USD Daily Chart Technical Analysis

Our preference: The bias is to the upside

Alternative scenario: look to reverse on a close below support near 185

Support

The 50-day moving average at 185

Resistance

Near a downward sloping trend line at 225

Comment: Prices are attempted to form a bottom and have recaptured resistance which is now seen as support at the 50-day moving average at 185.  Momentum has turned positive as the fast stochastic has generated a crossover buy signal. Momentum as reflected by the MACD is neutral as the index prints near the zero-index level with a flat trajectory.

Target: 225

Bitcoin Cash Daily Chart Technical Analysis

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

Alternative scenario: prices are hovering above support levels and a drop below trend line support could lead to a test of the February low.

Support

Short-term an upward sloping trend line at 940

Resistance

Resistance is the 50-day moving average at 1,290.

Comment: Bitcoin cash is consolidating and forming a bottom.  A break of resistance at 1,290 would lead to a test of target resistance near the February highs at 1,644. Momentum is turning positive as the MACD (moving average convergence divergence) index is poised to generat a crossover buy signal.

Target: 1,644

Dash Daily Chart Technical Analysis

Our preference: The bias is positive as prices are hovering near trend line resistance

Alternative scenario: prices could move lower on a break below trend line support at 437 and test the February lows at 371.

Support

Trend line support at 444

Resistance

The 50-day moving average at 632

Comment: Prices are forming a bottom and are hovering just below resistance at 543.  A close above resistance at a downward sloping trend line at 570. Momentum is neutral, but turning positive as the MACD histogram prints in the red with an upward sloping trajectory which points to consolidation.

Target: 770

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