Let us see where are the opportunities and market positioning in the cryptocurrencies.
Ethereum – the instrument is breaking below the long-term wedge line and we could see a channel forming. The key level for a downside continuation is 700 level. Look for a reaction there for new trade entries buy/sell.
Bitcoin – the instrument is testing the 200 SMA (blue line) 7200 level. Look for a reaction here for a downside extension or the long-term uptrend continuation.
Litecoin – the instrument has broken below the triangle 220 level and is moving along the falling channel. The target lower of this triangle break is 90-100 zone. The SL should be above the 250 level.
Ripple – the instrument is in the downtrend channel targeting 0.4200 level. Look for the short trade entries with the SL above 1.0000 level.
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