Let us see where are the opportunities and market positioning in the cryptocurrencies.
Ethereum – the instrument bounced from the bottom of the channel and is retesting the broken upside trend line.We could see an etxetnsion higher into the 1040 level as long as the 747 level holds.
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. We have a falling wedge formed, usually bullish. Above the 9400 level we could see an extension higher.
Litecoin – the instrument tested the lower side of the channel 110 level and is bouncing. Look for a test of 190 level as long as the instrument is above 120.
Ripple – the instrument bounced from the strong support level 0.6500 and we could see continuation higher as long as it holds above the 0.8500 level.
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