Cryptocurrencies trading overview – Ethereum, Bitcoin, Litecoin, Ripple, EOS
Let us see where are the opportunities and market positioning in the cryptocurrencies.
Ethereum – the instrument has broken below the triangle 275 level and we have a swing down to 170-190 zone where is located also the flag channel support. If we get a close below this support we could see a downside continuation. We are expecting a bounce from here for a retest of the broken triangle 275 level at least.
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Bitcoin – the instrument is in the long-term wedge which is narrowing. Look for a possible reaction at the 6000 level for a possible bounce higher into the wedge resistance 7500 level.
Litecoin – the instrument could react from the 50 level for a retest of the recent break below the flag 63 level. A break below the 50 level could lead to a further downside extension into the 40 level.
Ripple – the instrument could be in the consolidation 0.30-0.40 zone before a downside continuation. Only a daily close above the 0.45 level would lead to an upside reversal and will invalidate the downside. A break below the 0.30 will lead to a downside continuation.
EOS – the instrument is reacting on the channel support 4.4000 level. This reaction could lead to a pullback higher into the 6.000 level. Only a daily close and a break below the 4.4000 would lead to a downside extension.
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