Litecoin on the Move as Cryptocurrencies Settle Down and Volatility Shrinks

The major coins remained inside their short-term ranges during the weekend, and the volatility of the moves declined significantly as we expected. Ethereum and Bitcoin traded very similarly, but Litecoin attempted a breakout late on Sunday, and it is still looking strong this morning.  The smaller coins are generally higher today, and the decline in volatility is a bullish sign for the majors as well, although the declining short-term trends remain intact for now, at least in the case of ETH and BTC. Correlations continued to break down, and that could point to significant moves by some of the smaller coins today.


BTC/USD, 4-Hour Chart Analysis

Bitcoin continued to trade in the compression pattern that we pointed out on Friday, and it still stuck around the $2500 level after forming a higher low on the 4-Hour chart. A move above $2600 would trigger a short-term buy signal, but for now, the picture remains neutral, with the trendline of the correction still holding on.


ETH/USD, 4-Hour Chart Analysis

Ethereum is also trading below the short-term trendline after the weekend, despite the Sunday bounce, and the new swing low that formed in the crucial support zone that propelled the coin higher after the first leg down in the correction. The coin remains neutral short-term, as a move above $300 would confirm a new rising short-term trend compared to the Dollar, while the BTC faces resistance near 0.12 and above that at 0.13 as well.

ETH/BTC, 4-Hour Chart Analysis


LTC/USD, 4-Hour Chart Analysis

Litecoin is on a renewed buy signal after breaking above the $44 level this morning, and a test of the previous highs around $50 looks possible in the coming days now.  The long-term uptrend in the currency is intact, and the MACD is after a bullish cross, but still I neutral territory, leaving ample space for a move higher.


DASH/USD, 4-Hour Chart Analysis

Dash followed the majors lower on Saturday, touching the $160 level before bouncing higher again. The coin remains in the short-term consolidation pattern below the $190 level, with the prior highs just above the current primary resistance. A move above the swing high would likely trigger a rally to new highs above $200, while the most important support level is still near the $150 level, and the rising trendline is well below the current price at $120.


XRP/USD, 4-Hour Chart Analysis

Ripple is still stuck below the declining short-term trendline as most of the majors, with the weekend bringing no new developments regarding the technical setup of the coin. XRP is still in a long-term consolidation pattern, and traders are still suggested to hold their positions, although the short-term trend is still neutral.

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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.