The major cryptocurrencies are consolidating as prices attempt to form a bottom. Momentum appears to be turning upward, but don’t be surprised of prices take another shot at the downside before making a move higher.
LTC/EUR Daily Chart Technical Analysis
Litecoin is forming a bottom but could test trend line support before it moves higher.
Litecoin prices versus the EUR are forming a bottom, and momentum is turning positive. The fast stochastic generated a crossover buy signal in oversold territory which reflects a change in momentum while the price of Litecoin is stretched. Resistance is seen near a downward sloping trend line at 140, while support is seen near an upward sloping trend line at 115. A break of 140 could lead to a test of the March 10 highs at 159.
Up-side Target: 159
Down-side Target: 115
XRP/EUR Daily Chart Technical Analysis
Ripple is bumping along and attempting to form a bottom. Momentum has recent turned positive.
Ripple prices versus the EUR are bumping along the bottom, as the fast stochastic recently generated a crossover buy signal. Support can be seen near the Bollinger band low which is 2-standard deviations below the 20-day moving average at 0.475 (buying zone). Short-term resistance is seen near the 20-day moving average at 0.645, and then the Bollinger band high at 0.815. The MACD histogram is printing in the black with an upward sloping trajectory which points to higher prices.
Up-side Target: 0.645 and 0.815
Down-side Target: 0.475
BTC Cash/EUR Daily Chart Technical Analysis
BTC Cash versus the EUR is edging through trend line resistance and could be headed for higher prices.
BTC Cash pushed through trend line resistance near 813 and has pulled back giving traders a chance to buy. Target resistance is the March 11 highs at 941.90. Support is former trend line resistance at 773. Momentum has turned positive as the fast stochastic generated a crossover buy signal.
Up-side Target: 813
Down-side Target: 773