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 supported by the 200-220 trendline zone. Look for the extension higher into 330 after the break of 240 level. Take the long trade entries with the stop loss below the 200 level.
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Bitcoin – the instrument is in the long-term wedge which is narrowing. We expect an upside continuation in the case of a daily close above the 7100 level. Look for the long trade entries with the stop loss below the 6200 level.
Litecoin – the instrument is in the rounding formation with a nice support at the 57 level. As long as it holds above the 53 level look only for the long trade entries with the stop loss below the 53. The daily close above the 63 level is required for an upside continuation.
Ripple – the instrument is completely reversing the downtrend with the recent swing up. The support zone is 0.40-0.45. Below this zone, you should place your stop loss for long trade entries.
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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