Analysis: Bitcoin, Ripple, Litecoin, Ethereum, ETC, Dash & Monero | Hacked: Hacking Finance
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Analysis

Analysis: Bitcoin, Ripple, Litecoin, Ethereum, ETC, Dash & Monero

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Analysis: Bitcoin, Ripple, Litecoin, Ethereum, ETC, Dash & Monero

Introduction

This article was posted on Saturday, 15:10, UTC.

Bitcoin

Bitcoin spiked down towards the first main support zone near $1875, and it’s currently trading above the $2000 level again. I expect more downside, but trading these bounces with small positions could be lucrative. The $2230 level could cap the current bounce.

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Ethereum

ETH’s overnight minimum was around 110, a 40% top to bottom correction. The 100 level and the prior base between 77 and 85 are the obvious levels to watch. The advancing long-term trendline is currently found near 90, providing further strong support.

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Ripple

XRP spiked as low as 0.12 touching the long-term trendline and getting close to its previous line-in-the-sand level near 0.11. As Ripple was already in a deep correction, this might have marked the end of the move (-75% from the top!!) but the prior base near 0.07 is not out of the question.

Litecoin

LTC is in a slightly different technical setup, as it already has been in the process of forming a base between 20 and 24 in recent weeks. This morning it spiked below 20 but it trades above the crucial level again. The 16.5 level is a strong candidate for a final bottom, with the prior base between 12.75 and 14 also providing support.

Dash

Dash only joined the party relatively late, so the speculative gains were less pronounced, I expect the prior base between the 70 and 80 levels to hold, with further support at 60. The 85 level could also be in focus as it roughly coincides with the long-term trendline.

Monero

XMR gave back most of its recent run, but the 25-27 zone should hold the correction with very strong support in that area. The long-term trendline is also found near 25.

Ethereum Classic

ETC found support near 9.5 this morning with after a more than 50% correction. The prior resistance at 9.15 and the top of the base at 7.5 serve as a primary target for the correction. Further support is around 5.30, but I don’t expect ETC to fall anywhere near that.

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Feedback or Requests?

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR leveler

    Posted on 3:14 pm May 27, 2017.

    how do you think about the future of xrp?
    xrp is able to bounce up again?

    • user

      AUTHOR Mate Cser

      Posted on 3:26 pm May 27, 2017.

      Sure it can. It’s not my favorite coin because of it’s background, but I expect several legs up.

  • user

    AUTHOR eko6321

    Posted on 3:20 pm May 27, 2017.

    Hi

    Is it possible eth down to 77~88 Level support?

    It looks 110 level is best support level, am i wrong?

    Thanks

    • user

      AUTHOR Mate Cser

      Posted on 3:29 pm May 27, 2017.

      Hi, it’s unlikely that it will fall that low, but it’s still possible. Definitely worth a try around 110.

  • user

    AUTHOR Ershad

    Posted on 3:40 pm May 27, 2017.

    Hi Mate,

    Thanks for your analysis, I wanted to ask besides XRP which other coin do you think would yield the highest returns? I was thinking maybe Zcash or Eth?

    Kind regards
    Ershad

  • user

    AUTHOR shyam_shankar

    Posted on 3:18 pm May 28, 2017.

    can I know why you are neglecting XRP? even I have read from many sources that XRP is not a crypto at all. I will be much obliged if you provide me some analytical details about it. I would be much happy if you mail me on [email protected]

  • user

    AUTHOR shyam_shankar

    Posted on 3:20 pm May 28, 2017.

    why are you not trading alts over BTC? all the charts that I have seen only over USDT. can you please provide ETH,ETC,XMR so on/ BTC

    • user

      AUTHOR Mate Cser

      Posted on 3:10 am May 29, 2017.

      Hi, I find the USD charts more reliable, that’s all. But sure, with XRP it makes sense to analyze the Bitcoin pair. Will do, thanks for the input.

  • user

    AUTHOR JamesSides

    Posted on 6:13 am May 30, 2017.

    I’m a newbie at all this so I think perhaps I misunderstood what you meant when you said Ethereum’s support levels are around 90 long term.

    Does that mean you believe it will drop back down to that at some point?

    I made a mistake and assumed that’s what it meant before unloading 20 Ether for $173 but now that I see it over $200 I’m wondering if I misunderstood?

  • user

    AUTHOR Mate Cser

    Posted on 2:21 pm May 30, 2017.

    Hi Jamie,

    Thanks for the question! By long-term support I meant that Ethereum would have been highly unlikely to go below that level should the panic selling have continued. It all depends on the time frame of your holding. As a long-term investment, I suggest holding a core position in Ethereum and adding to that if it drops to a significant support levels. It might still fall back to $90, even if we all agree that it will go way higher in future.

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