Daily Technical Analysis | LTC | Bitcoin Cash | Dash 3/7/2018
News
Our preference: The bias is negative
Alternative scenario: look to reverse on a close above resistance
Support
Resistance
Comment: Prices moved lower for the second consecutive trading session. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. The MACD histogram is printing in the red with a downward sloping trajectory which points to lower prices. The fast stochastic is now printing in oversold territory below the oversold trigger level at 19, which could foreshadow a correction.
Target: 228
Our preference: The bias is to the downside short term
Alternative scenario: prices close above the March highs
Support
Short-term 50-day moving average at 5,400
Resistance
Resistance the March highs at 9,399
Comment: Prices are sliding lower and are poised to test support near the 50-day moving average at 5,400. Momentum has turned negative as the fast stochastic generated a crossover sell signal. Momentum reflected by the MACD (moving average convergence divergence) histogram is turning negative, as the trajectory is printing in the black with a declining trajectory.
Target: 5,400
Our preference: The bias is negative to neutral
Alternative scenario: prices could move higher on a reversal above resistance near the 50-day moving average
Support
Trend line support at 410
Resistance
The March highs at 622
Comment: Prices are moved lower and are poised to test trend line support at 410. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. The fast stochastic also generated a crossover sell signal but in oversold territory. The current reading of 13 is below the oversold trigger level of 20 could foreshadow a correction.
Target: 410
Alternative scenario: look to reverse on a close above resistance
Support
The 50-day moving average near 152
Resistance
Near the 100-day moving average at 172
Comment: Prices moved lower for the second consecutive trading session. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. The MACD histogram is printing in the red with a downward sloping trajectory which points to lower prices. The fast stochastic is now printing in oversold territory below the oversold trigger level at 19, which could foreshadow a correction.
Target: 228
Bitcoin Euro Daily Chart Technical Analysis
Our preference: The bias is to the downside short term
Alternative scenario: prices close above the March highs
Support
Short-term 50-day moving average at 5,400
Resistance
Resistance the March highs at 9,399
Comment: Prices are sliding lower and are poised to test support near the 50-day moving average at 5,400. Momentum has turned negative as the fast stochastic generated a crossover sell signal. Momentum reflected by the MACD (moving average convergence divergence) histogram is turning negative, as the trajectory is printing in the black with a declining trajectory.
Target: 5,400
Dash USD Daily Chart Technical Analysis
Our preference: The bias is negative to neutral
Alternative scenario: prices could move higher on a reversal above resistance near the 50-day moving average
Support
Trend line support at 410
Resistance
The March highs at 622
Comment: Prices are moved lower and are poised to test trend line support at 410. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. The fast stochastic also generated a crossover sell signal but in oversold territory. The current reading of 13 is below the oversold trigger level of 20 could foreshadow a correction.
Target: 410
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Disclaimer. This content is for informational and educational purposes only. It does not constitute financial advice, a recommendation, or an offer to buy or sell any security or digital asset. Past performance does not guarantee future results. Cryptocurrency investments are subject to high market risk and volatility.