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 back into the wedge after a brief and not confirmed upside break above the 150 level. Strong support is 102 level and a daily close below this level would invalidate the upside reversal. We have a small channel upside channel formed but we need to see a close above the 120 level for the upside reversal.
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Bitcoin –Â Instrument is testing the 3400 level where a daily close below could lead to a downside continuation into the 3000. We need to see a daily close above the 4000 for the upside reversal and a test of 5000.
Litecoin – the instrument is breaking below the 35 level again after the false ascending triangle break. This can lead to a retest of the 22 level. Only a daily close above the 32 level could lead to an upside reversal into the 49.
Ripple – the instrument is in the consolidation between the 0.30 and 0.45 level. We have a test of the test of a lower 0.30 level and a daily close below this level could open more downside.
EOS – the instrument is still above the 2.4 downside resistance level and only a daily close below this level would lead to a downside continuation into the 1.55.
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