Trend Analysis: BTC ETH XRP BCH LTC

30 ביולי 2018

BTC/USD
Overview:
Bitcoin is in a downtrend. The cancellation of the bearish trend will be confirmed by the breakdown and fixing of Bitcoin's price above the level of $9400.

Current situation:
Bitcoin quotation accumulates forces in the range: $8050- $8300. On the BTC / USD chart there are signs of pattern forming: the reversed Head and Shoulders (base: $7800; accumulation range: $8050- $8300; target zone: $9000- $9400).
As the trend remains bearish, and the mark at $8500 is a mirror level of previously broken support, we predict a price decline to levels of $7600, $6800, $6660. The cancelation of the long-term scenario will be the increase in Bitcoin's price above $8650.

Key levels are used by traders to identify immediate targets, limit losses, fix profit, entry points.

Resistance levels: $8300; $8500; $8650; $8800; $9120; $9400.
Support levels: $8050; $7600; $6800; $6660; $6276; $6354; $6100; $5940; $5780; $5450.

Forecast:
The decrease in the price of BTC / USD from the accumulation zone is $8050- $8300 with a stop at the levels: $7600, $6800.

ETH/USD
Overview:
The global trend remains descending. The turning point for the breakdown of the trend is the mark at $555.

Current situation:
The price of Ethereum continues to trade in the range $485- $450. Exit from this consolidation will determine the direction of further price movement. If the price of ETH / USD goes up - the nearest predicted stop level will be $555.
If the price breaks the support level of $450, then the nearest target will be the level of $420.

Resistance levels: $485; $515; $555; $585.
Support levels: $450; $420; $404; $360.

Forecast:
The decrease in the price of ETH from $460 to $420.

XRP/USD
Overview:
Downtrend. The cancellation of the downward trend of the Ripple quotation will be a breakthrough of the level of $0.60 and consolidation above this level. An important line of support for the price of XRP / USD is the $0.42- $0.40 zone.

Current situation:
Ripple price is consolidated in the zone: $0.43- $0.47. We forecast exit from this range down to the price zone of $0.42 - $0.40.

Resistance levels: $0,48; $0,50; $0,52; $0,54.
Support levels: $0,43; $0,42; $0,40$; $0,38.

Forecast:
Ripple price drop from the level of $0.45 to $0.40.

BCH/USD
Overview:
Trend is bearish. The key level for the downtrend cancelation is resistance at $1000.

Current situation:
Bitcoin Cash quotation is traded in a narrowing accumulation zone: $800- $850. We still expect the price to fall to the zone: $750- $720.

Resistance levels: $820; 840$; $890; $930; $970; $1020.
Support levels: $780; $750; $820; $780; $750; $720; $680.

Forecast:
The decrease in the price of Bitcoin Cash from the level of $800 with the target at $750.

LTC/USD
Overview:
The trend is bearish. The fixing of the LTC / USD price over the zone of $100- $110 will be a sign of a reversal of the downtrend. Transactions for the sale of LTC / USD are still in priority.

Current situation:
The price of Litecoin is trading in a tapering range: $85- $80. Exit from this zone, we forecast down to levels: $75, $72.

Resistance levels: $85; $90; $94; $100.
Support levels: $80; $75; $72; $66.

Forecast:
The decrease in the price of LTC / USD from the level of $80 with the target at $75.