Dec 29 2017, 08:58 AM
QUOTE(NowhereToNowHere @ Dec 29 2017, 04:01 AM)
Technical Analysis: BTC, ETH, XPR, LTC
The majority of the cryptocurrency segment is trading significantly lower today, as the early morning losses that were triggered by a proposed change in South Korean legislation (which was later corrected) are still present. The dip was more a continuation of the already ongoing technical correction that has been led by Bitcoin. The majors all managed to rally off the lows to a certain extent, but only Ripple surged higher, riding the momentum of its still-dominant short-term bullish move, and scoring another marginal all-time high despite the pull-back.
XRP faces strong resistance in the current price zone, and although traders could still play leg higher towards the $1.50 level, the extreme long-term overbought readings point to a deeper correction in the near future. Key support levels are still found at $1, $0.85, $0.68, $0.4250 and in the $0.30-$0.32 range.
[/B]Bitcoin
BTC/USD, 4-Hour Chart Analysis
Bitcoin traded in the vicinity of the $14,000 level throughout the session, bouncing as high as $14,500 after the early sell-off. [B]The largest digital currency remains under selling pressure following the lofty gains of the last couple of month, and the correction that started in earnest last week is still expected to continue with a likely dip below $10,000. Primary support is still found near $13,000, with further levels at $11,300, $10,000, $9000, and stronger levels at $8200 and $7700.
[/B]Ethereum
ETH/USD, 4-Hour Chart Analysis
Ethereum has been relatively strong in recent days, and the coin held up well during today’s dip as well, although it failed to follow Ripple in its rally in the second half of the session. That said, the currency is well above the Friday crash-lows and it is also clear of the Christmas lows, and the long-term uptrend is in no danger. [B]While the key $740 level is now ahead as resistance, strong support is still found at levels are now found at $625, $575, between $480 and $500, and near the prior all-time high at $400.
Ripple
XRP/USD, 4-Hour Chart Analysis
Ripple remains the strongest major coin from a short-term perspective, as it is trading just below its all-time high near $1.25. While traders could still play the short-term trend, investors should remain patient and wait for the next correction before adding to their holdings after the recent almost 500% rally. Support levels are found at $1, $0.85, $0.68, $0.4250 and in the $0.30-$0.32 range.
Litecoin
LTC/USD, Daily Chart Analysis
Litecoin is one of the weakest majors today, as it already took out the morning lows, trading near the $225 at the moment. The coin has already shown weakness in the last couple of days, and now it is likely headed for a test of the correction lows. The long-term picture remains bearish from a momentum perspective, and investors should wait before adding to their positions. Key support levels are found at $125 and $100, with a weaker zone at near the $170 level while primary resistance is ahead between $250 and $260.
from guru?The majority of the cryptocurrency segment is trading significantly lower today, as the early morning losses that were triggered by a proposed change in South Korean legislation (which was later corrected) are still present. The dip was more a continuation of the already ongoing technical correction that has been led by Bitcoin. The majors all managed to rally off the lows to a certain extent, but only Ripple surged higher, riding the momentum of its still-dominant short-term bullish move, and scoring another marginal all-time high despite the pull-back.
XRP faces strong resistance in the current price zone, and although traders could still play leg higher towards the $1.50 level, the extreme long-term overbought readings point to a deeper correction in the near future. Key support levels are still found at $1, $0.85, $0.68, $0.4250 and in the $0.30-$0.32 range.
[/B]Bitcoin
BTC/USD, 4-Hour Chart Analysis
Bitcoin traded in the vicinity of the $14,000 level throughout the session, bouncing as high as $14,500 after the early sell-off. [B]The largest digital currency remains under selling pressure following the lofty gains of the last couple of month, and the correction that started in earnest last week is still expected to continue with a likely dip below $10,000. Primary support is still found near $13,000, with further levels at $11,300, $10,000, $9000, and stronger levels at $8200 and $7700.
[/B]Ethereum
ETH/USD, 4-Hour Chart Analysis
Ethereum has been relatively strong in recent days, and the coin held up well during today’s dip as well, although it failed to follow Ripple in its rally in the second half of the session. That said, the currency is well above the Friday crash-lows and it is also clear of the Christmas lows, and the long-term uptrend is in no danger. [B]While the key $740 level is now ahead as resistance, strong support is still found at levels are now found at $625, $575, between $480 and $500, and near the prior all-time high at $400.
Ripple
XRP/USD, 4-Hour Chart Analysis
Ripple remains the strongest major coin from a short-term perspective, as it is trading just below its all-time high near $1.25. While traders could still play the short-term trend, investors should remain patient and wait for the next correction before adding to their holdings after the recent almost 500% rally. Support levels are found at $1, $0.85, $0.68, $0.4250 and in the $0.30-$0.32 range.
Litecoin
LTC/USD, Daily Chart Analysis
Litecoin is one of the weakest majors today, as it already took out the morning lows, trading near the $225 at the moment. The coin has already shown weakness in the last couple of days, and now it is likely headed for a test of the correction lows. The long-term picture remains bearish from a momentum perspective, and investors should wait before adding to their positions. Key support levels are found at $125 and $100, with a weaker zone at near the $170 level while primary resistance is ahead between $250 and $260.
Quote
0.2631sec
0.62
7 queries
GZIP Disabled