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

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Cryptocurrency Analysis: Bitcoin, Ethereum, Ripple, Litecoin, Dash, ETC

Introduction

This article was posted on Friday, 19:16, UTC.

Stratis and Bytecoin are the two most active coins today being up by close to 50%, while Ethereum, Bitcoin are doing nothing, probably frustrating a lot of traders who are waiting for the next big move. That said, things are looking much better than one week ago, when the “Friday-Curse” struck again, and all the major coins dropped sharply. Ripple has pulled back after yesterday’s run, but the XRP token still looks interesting in the short run. We could be in for a less busy weekend, and again, Monday will be a holiday in a lot of countries so volumes might remain lower than usual. Let’s see how the charts are shaping up!

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Ethereum

ETH respected the trend-line resistance in the ETH/BTC pair, and it’s drifting lower towards the strong resistance zone between 0.08 and 0.085. A possible entry point is developing near the confluence of the rising trend-line and the 0.085 level. Below 0.008, the 0.064 level might come into play, but that scenario is less likely, given the strong uptrend.  The MACD indicator is still retreating from overbought territory, but the long-term trend is not in danger as of now.

Bitcoin

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Bitcoin got a lift from the positive news coming out from China which might mean that the country will finally be taking steps in the right direction, opening up a new pool of buyers for the segment.  BTC remains on a buy signal above the $2350 level, but caution is still advised following the epic run-up of the recent months, and should Bitcoin fall below that support level, the rising trend-line could be in danger. Long-term investors should definitely hold their core positions, and add to it if another round of the correction comes.

Ripple

 

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XRP is holding on to its break-out gains although the upside momentum stalled today and the token remains below its recent highs. Short-term support is at 0.265 with the very with a crucial zone just below that, around the 0.24 level. The MACD indicator is still somewhat bullish, but short-term traders should be aware of a break below the 0.265 line.

Litecoin

Litecoin is in a holding pattern right at the 27.50 level, and the rising short-term trend that originated off the bottom of the deep correction is in danger. The chart looks fragile, and without breaking above at least the 30 resistance level, LTC should be avoided, although the long-term prospects are clearly positive. Investors should be looking for levels to add to their core positions in the case of further correction.

Dash

Dash is in a similar pattern as LTC following the strong bounce off the lows, as the short-term holding pattern is converging with the rising short-term trend-line. Short-term traders should avoid Dash right now IMHO, while long-term investors should be ready to by more if the coin enters the next phase of the correction. That said, a move above the current short-term pattern could trigger a new buy signal.

Ethereum Classic

ETC has experienced the lowest volatility among the majors lately, trading in a triangle pattern for the past few days. While the long-term picture is still among the most bullish on the coin market I expect a re-test of the support zone near 14, before another sustained move higher. The current sideways price action is very tricky, so short-term traders should wait for more momentum before jumping in, while long-term the coin remains a hold.

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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 aclinch14

    Posted on 8:46 pm June 2, 2017.

    Mate,

    Could we get crypto recommendations? Layman terms of “buy or sell” or other such things.

    I enjoy reading the charts, trends, etc., but it’s nice to be able to read a simple statement or a TLDR.

    Thanks!

    • user

      AUTHOR Mate Cser

      Posted on 8:51 pm June 2, 2017.

      Sure, from now on my recommendations will include cryptocurrencies as well, with continously updated targets and stop-losses. As soon as a clear setup emerges, we will post a flash update! Thanks for the feedback!

      • user

        AUTHOR aclinch14

        Posted on 8:57 pm June 2, 2017.

        That would be amazing! Thanks for listening to your readers requests. That means a lot.

  • user

    AUTHOR embersburnbrightly

    Posted on 10:05 pm June 2, 2017.

    I really appreciate you giving recommendations for both short-term trades and long-term investments. Articles like this one are one of the prime reasons that I am really enjoying being a new subscriber! Thanks much!

  • user

    AUTHOR shyam_shankar

    Posted on 6:25 am June 3, 2017.

    Thanks for your analysis on ETH on Polo, I request you to take a opinion with your subscribed members which exchange they are using the most and I guess polo. I will be much obliged if you update your all charts to BTC/ ETH,DASH,LTC,XRP on poloniex.

  • user

    AUTHOR smumo

    Posted on 7:08 am June 3, 2017.

    What price do ypu think etherrum classic will hit in two months?Thank you.

  • On Ethernet classic you mention:
    “”the long-term picture is still among the most bullish on the coin market “”
    My question is:
    How high do you think it may Trade in the coming weeks or months?

    • user

      AUTHOR Mate Cser

      Posted on 4:09 pm June 3, 2017.

      Hello,

      I expect $28-$30 to be reached with 0.010-0.012 on the BTC pair in the coming two months, with lots of volatility.

  • Thank You Very Much for your response. That gives me a better perspective on what to buy.

  • View Comments (9) ...
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