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 207
Support
The upward sloping trend line at 207
Resistance
Near a downward sloping trend line at 240
Comment: Prices are forming a bull flag pattern which is a pause that refreshes higher. Litecoin is hovering near the 38.2% retracement level of the decline from the December highs at 420 to the February low at 90, which comes in near 221. Short-term support is seen near the 10-day moving average at 211, and then an upward sloping trend line at 207. Momentum is nuetral as the MACD (moving average convergence divergence) histogram has a flat trajectory.
Target: 240
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 the 10-day moving average could lead to a test of the February lows at 760.
Support
Short-term 10-day moving average at 1,240
Resistance
Resistance – the March highs at 1,305
Comment: Bitcoin cash is consolidating and forming a bottom. A break of resistance at 1,305 would lead to a test of target resistance near the February highs at 1,640. Momentum is turning positive as the fast stochastic has generated a crossover buy signal after recently moving out of oversold territory. Additionally, the MACD (moving average convergence divergence) index generated a crossover buy signal.
Target: 1,640
Dash Daily Chart Technical Analysis
Our preference: The bias is positive as prices are hovering near trend line support
Alternative scenario: prices could move lower on a break below trend line support at 604 and test the February lows at 543.
Support
Trend line support at 604
Resistance
The March highs at 634
Comment: Prices are forming a bottom and are hovering just above support near 604. A close above resistance at the March highs, would lead to a test of the February highs at 770. Momentum is neutral as the MACD histogram prints in the black with a flat trajectory which points to consolidation.
Target: 770
