Connect with us

Analysis

Cryptocurrency Analysis: Bitcoin, Ethereum, Litecoin, Ripple, Ethereum Classic

Published

on

The Monday correction is gathering strength again after a breather yesterday, as BTC failed to launch a new rally towards all-time highs and rolled over after the bounce. Correlations are high once again, as it is usual for a correction, and it’s likely that BTC and Ethereum will dictate the trend of the coming days, with small cap coins following the majors lower.

// -- Discuss and ask questions in our community on Workplace.

Short-term traders are advised to wait until the correction runs its course and the short-term trend turns higher again, while long-term investors should prepare to add to their holdings as we head towards the targets of the move, and buying opportunities emerge.

Bitcoin

BTC/USD, 4-Hour Chart Analysis

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Bitocoin is trading near its lows from Monday, and it will likely head for a test of the $2375 level, as it clears its overbought momentum readings. The rising long-term trendline is found near $2200, providing further strong support. The long-term picture remains bullish but there is room for further correction after the strong rally since the end of March.

Ethereum

ETH/USD, 4-Hour Chart Analysis

Ethereum is also correction after its stellar move to $400, following a bearish cross in the MACD, and it is getting close to the first major support zone near $350, with the rising short-term trendline and the prior swing low converging there on the USD chart. Further targets for the correction are at $300 and between $250 and $270, which could be an optimal entry for long-term investors. The Bitcoin pair is consolidating below the 0.15 level, well within the strong uptrend, with support at 0.13, 0.1225, and at 0.1125.

ETH/BTC, 4-Hour Chart Analysis

Litecoin

LTC/USD, 4-Hour Chart Analysis

Litecoin remains inside the long-term consolidation zone that dominated trading since early May against the Dollar. The short-term trend is still neutral, with support levels found at $27.50, $26.25. The BTC pair is little changed as it is still stuck in a range between 0.10 and 0.115.

Ripple

XRP/USD, 4-Hour Chart Analysis

Ripple finally showed relative strength in early trading today, as it moved up both on the USD and BTC pairs. The USD pair declined again amid the BTC correction, but the rally against the BTC could suggest that Ripple’s lengthy consolidation will conclude soon. A sustained move above the 0.000115 level would confirm the strength, and could set up a buying opportunity in the USD pair as well.

XRP/BTC, 4-Hour Chart Analysis

Ethereum Classic

ETC/USD, 4-Hour Chart Analysis

Ethereum Classic is still in a narrow consolidation pattern on the USD chart, trading just above the prior break-out level at $17.75. The BTC correction could push the currency back in its recent consolidation range, with the rising short-term trend now being broken. Long-term investors should be looking for a pull-back to $15.50 or $14.50 for further entry points if the correction continues.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Analysis

Technical Analysis: Litecoin and Ethereum on the Move as Rotation Continues

Published

on

The altcoin bull run continued today despite the US Thanksgiving holiday, as trading remained active in the majors, and another important break-out occurred, this time in Ethereum. Litecoin is also strong today, and the coin is testing the key $75 resistance level, as it follows in the track of ETH again. The currency still looks set to hit the next target at $82.50, with the all-time highs below just below the $100 level also in sight. While the long-term momentum is edging towards overbought territory, the coin remains bullish on both time-frames, with strong support still found at $64 and $56.

// -- Discuss and ask questions in our community on Workplace.

LTC/USD, 4-Hour Chart Analysis

Ethereum scored a new record high after moving past $400 for the first time in five months, and considering the lengthy consolidation before the move, more upside is likely for the second largest coin. With the long-term momentum still not being overbought, the token’s price might test the $500 mark in this leg higher, with Fibonacci targets ahead at $475 and $512. Support levels are found below $400 at 4380 and $350.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

ETH/USD, 4-Hour Chart Analysis

Ripple is also attempting another bullish move, while Monero and Dash are consolidating just below their recent highs, while IOTA is in a short-term correction pattern as well. More and more altcoins are now in the latter phases of their rallies, just like Bitcoin, but traders still have opportunities with favorable risk-rewards ratios. Let’ see the short-term charts.

(more…)

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Analysis

Break-Out: Another Crazy Rally in Ethereum?

Published

on

What crazy rally you might ask? Bitcoin is the star, right? Everything was about BTC (and BCH) in the last few months, and lots of traders forget the gains that ETH posted amid the take-off of the ICO Rocket during the spring.

// -- Discuss and ask questions in our community on Workplace.

Comparing ETH and BTC in 2017

By the numbers, out of the two largest coins, 2017 is still the year of Ethereum as the 3600% rise in the token’s price dwarfs Bitcoin’s impressive 630% gain. Could Ethereum be on the verge of another epic surge? Before answering that question, first let’s see what happened with the coin in recent months.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

How Did We Get Here?

ETH/USD, Daily Chart Analysis

Ethereum finally broke above the magical $400 barrier that has kept a lid on the token’s price for five months after the crazy run-up in May. What first followed after that stellar move, was a 70% decline top-to-bottom, with a flush-out panic low in July.

Our trend model turned long-term positive even before the spike lower, but since then, the coin only managed to get close to the all-time highs, while Bitcoin eclipsed the previous star with its dominant performance. Now the tide might be turning, as ETH is finally gathering bullish momentum and today it breached the $400 mark, flirting with a break-out from the giant triangle consolidation pattern.

(more…)

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Altcoins

Zcash Dip Offers Chance to Buy

Published

on

The ZEC/USD pair went into a downtrend for several days after hitting the 435 level in June. It shed more than half of its value before establishing strong support at 140. The market tried to reclaim resistance at 310 twice, but was sent back on both occasions. As a result, we have a massive reversal structure that might skyrocket the pair into a new all-time high.

// -- Discuss and ask questions in our community on Workplace.

The market closed above 310 a couple of days ago on weak volume which is why it’s struggling to stay above that level. Technical indicators show that momentum is weakening, increasing the likelihood of a dip. A slight correction not only gives the market legs for its next move up, but it also offers you a chance to place orders.

They key indicator to watch for is volume. As long as volume remains sluggish, the market will most likely slide down to 280 first and then 262 next. That’s a good zone to accumulate positions. If volume suddenly spikes, at least 230k at Bitfinex, then we have a legitimate breakout that will take the market to 465.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

 Summary of Strategy

Buy: between 280 and 262 OR confirmed breakout with volume of at least 230k at Bitfinex

Support: 280, 262, and 243

Resistance: 310, 352, 400, and 412

Target: 465

Stop: If the market breaches 243

 

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

 

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Trending