Cryptocurrency Analysis: Bitcoin, Ripple, Ethereum, Monero, Litecoin, Stellar, Dash

Crytpocurrencies are having a quiet and slightly bearish session, as Bitcoin failed to follow through on its recent break-out, so far, although it is holding on above its prior high despite the weak momentum. Ripple, Ethereum Classic, Dash, and Monero are among the relatively strong coins of the day. The smaller altcoins are more active today in general (see our previous update for details), as the market digests the new highs of the two major coins, BTC and ETH.


BTC is at a very important point, as a failed break-out attempt, and a break below the prior high could set up a quick decline towards the dominant trendline at $2500 or the top of the short-term base near $2350.  That said, BTC is still on a buy signal and should the currency break above yesterday’s high, the Fibonacci-based targets for the move would still be $3050 and $3260, with the prior swing-low at $2477 providing primary support.


Ripple remained in virtually unchanged today, but there are some positive signs showing up on the charts especially as XRP/BTC broke a minor trendline which could be the start of a period of relative strength. A move above the more prominent trend-line near 0.000115 would trigger a break-out trade in the Bitcoin pair and the USD pair as well.


Ethereum is still a hold, despite the lack of momentum, as it is still trading between the $250 and the $265 levels in a narrow short-term range on the USD pair, while being stuck in a consolidation pattern on the BTC pair.  The short-term upside targets for a move above the Fibonacci-resistance are still $280 and $300 for ETH/USD, with the dominant rising trend line providing support just below $250.


XMR is still showing the relative strength that we have been monitoring in recent days, as it remains on a buy signal both against the USD and BTC. The coin attempted a break-out overnight, but it couldn’t hold above the prior all-time high in the USD pair. Long-term traders might ease up on their holdings after the attempt and wait for a re-entry point, but the rising short-term trend remains intact.


LTC is trading inside the convergence zone that we pointed out recently, and both the short- and long-term setups remain unchanged in the sideways trading environment.  Short-term traders could still wait for a break-out, but our long-term buy recommendation remains active.

Stellar Lumens

Stellar has given a short-term buy signal against the USD, breaking out from a consolidation pattern near the 0.045 level. The initial target of the move is at 0.0585, with the prior highs providing the next target at 0.066. The prior swing low is near 0.039, providing primary support for the coin.


The Dash/USD pair is still in the same setup as yesterday, despite the strength that the coin showed in early trading. The Dollar pair is still bullish, although we are still waiting for a sustained break-out above the $150 level, with an initial target of $166, and further targets at $176 and $183.

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.