Cryptocurrencies trading overview – Ethereum, Bitcoin, Litecoin, Ripple, EOS
Let us see where are the opportunities and market positioning in the cryptocurrencies.
Ethereum – the instrument is testing a strong long-term downside resistance 400-410 zone. A break below this zone could lead to an extreme downside continuation. Invalidation of the downside only in the case of a break above the 550 level.
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Bitcoin – the instrument is trying to break above the 8500-9300 zone for the upside to continue. For a downside extension we need to see a daily close below the 7100 level. Any break above the 9300 level would give a higher probability of the uptrend continuation. The instrument is testing now 6900 level which is 200 WMA also.
Litecoin – the instrument is breaking below the 97.30 level for an extended downside into the 55-60 zone. A bearish flag has been formed with the upside 95-100 resistance zone. Bearish flag is being broken by closing below the 76 level. The next big resistance is 68.94.
Ripple – the instrument is testing the 0.45 level of the strong upside support. Look for the reaction here and in the case of a pullback downside support is 0.54 level. The instrument is inclined for a near-term break. Look for the possible sell entries on a daily close below the 0.45 level.
EOS – the instrument is breaking below the triangle for a test of the long-term support 5.500 level. Look only for the short trade entries.
