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 bouncing from the 190-200 zone and we could see the retest of the 275 level on the wings of this bounce. Invalidation of the swing up only in the case of the daily close below the 180 level.
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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. On the bounce off the 50 level, we could see a retest of the 71.
Ripple – the instrument is testing the upside resistance 0.40-0.50 zone. A daily close above the 0.71 level would lead to an upside extension into the 0.45. level. Rejection here would 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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