Let us see where are the opportunities and market positioning in the cryptocurrencies.
Ethereum – the instrument is bouncing from the uptrend line support 630-650 zone. This zone needs to hold for an upside continuation higher. The key test for an upside continuation is 780 level. You can take buy trade entries here with the SL below 630 level.
Bitcoin – the instrument is testing the 200 SMA again 8450 level. This level should hold for a possible continuation higher and a test of the near-term key 10000 level.
Litecoin – the instrument is testing the support 160-170 zone and we are seeing a bounce from there. Look for the buying trade entries here with the SL below 165 level.
Ripple – the instrument is testing the support 0.7200 level for the upside continuation. The key near-term upside resistance level is 0.8500 level.
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