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Daily Technical Analysis | LTC | Bitcoin Cash | Dash 3/7/2018

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March 7, 2018 | 

Joanna Newman |  0 Comments| 

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Our preference: The bias is negative

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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