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Daily Technical Analysis | Ether | Bitcoin | Ripple 2/20/2018

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February 20, 2018 | 

Joanna Newman |  0 Comments| 

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ETH/USD Daily Chart Technical Analysis




Our preference: The bias is to the upside but short-term momentum has turned negative

Alternative scenario: look to reverse on a close below support levels near the 10-day moving average at 907.50

Support

Short-term 10-day moving average near 907.50.

Resistance

The February highs at 983

Comment: Prices have broken through a downward sloping trend line and have yet to reject that breakout. Short-term momentum has turned negative as the fast stochastic generated a crossover sell signal. This occurred in overbought territory as the index is printing a reading of 86, above the oversold trigger level of 80.  The RSI is printing a reading of 51, in the middle of the neutral range which reflects consolidation.

Target: 907

BTC/USD Daily Chart Technical Analysis




Our preference: The bias is to the upside as prices break out above trend line resistance as momentum remains positive

Alternative scenario: prices are overbought, look to reverse on a close below short-term support

Support

Short-term 10-day moving average near 9,919.

Resistance

Resistance – January 20, 2018 highs at 12,949

Comment: BTC broke out above trend line resistance and is now poised to test higher levels. Momentum is positive as the MACD recently generated a crossover buy signal. The MACD histogram is printing in the black with an upward sloping trajectory pointing to higher prices. The short-term stochastic recently generated a crossover buy signal, but the current reading is in overbought territory which could foreshadow a correction.

Target: 12,949

XRP/USD Daily Chart Technical Analysis

XRP/USD Daily Chart Technical Analysis




Our preference: The bias is neutral as prices are choppy and short-term momentum is negative

Alternative scenario: prices are overbought and a break of support could lead to a test of the February lows.

Support

Short-term 10-day moving average near 1.0814.

Resistance

Short-term resistance – 23.6% Fibonacci retracement at 1.24

Medium-term resistance 38.2% Fibonacci retracement at 1.64

Comment: Momentum has turned negative as the short-term stochastic generated a crossover sell signal. This occurred while the index is in overbought territory which points to lower prices. Positive momentum is decelerating as the MACD histogram prints in the black with a declining trajectory which points to consolidation.

Target: 1.23 or 1.08

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Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.

24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.

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Symbol

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Trade

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