Daily Technical Analysis | LTC | Bitcoin Cash | Dash 3/5/2018

LTC/USD Daily Chart Technical Analysis

ltc-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

btc-cash

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

dash-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

 

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