Trend Analysis: BTC ETH XRP BCH LTC

24. Aug. 2018

BTC/USD
Overview:
The trend for Bitcoin remains descending. All the highs and lows of the price have a decreasing trend, which is typical for the bear market.

Current situation:
The quotation continues to be traded in the $6350- $6640 zone. Exit from this zone is forecasted upwards to the level of $7200, also we do not exclude the exit of the price to the level of 7500. Confirmation of this scenario will be Bitcoin quotation overcoming the level of $6640. The cancelation of the long-term scenario will be the reduction of the price of BTC/USD below the level of $6100.

Resistance levels: $6750, $6850, $7000, $7160; $7500.
Support levels: $6200; $5800; $5400; $4500

Forecast:
We continue to expect the end of the correction of Bitcoin's price in the $7000- $7500 zone. After the end of the correction, we forecast a decrease in the asset to levels: $5800, $5400.

ETH/USD
Overview:
The global trend remains descending.

Current situation:
The price of the Ethereum is trading near its lows. We expect the price to rise within the limits of correction to the $350- $380 zone. Cancellation of the scenario - the withdrawal of the price below $250, in which case we will expect a decrease in the quotation to the $200- $180 zone.

Resistance levels: $280; $300; $325; $350; $380; $400.
Support levels: $250; $240, $220, $180.

Forecast:
After the correction is over, the price of the Ethereum will continue to decrease from the $350- $380 zone and the target in the $240- $220 zone.

XRP/USD
Overview:
Trend is downward.

Current situation:
The price of Ripple is traded in the consolidation zone $0.31- $0.34. The exit from this zone is expected in the form of an upward impulse to the $0.38- $0.42 zone. After that, we forecast a decrease in the price of XRP/USD to the level of $0.24. Also, we do not rule out a drop in Riplle's price from current levels, but this scenario is unlikely.

Resistance levels: $0.36; $0.38; $0.40; $0.44; $0.47; $0.52; $0.54.
Support levels: $0.32; $0.30; $0.28; $0.24; $0.22.

Forecast:
After adjusting the price of Ripple upwards to $0.38- $0.42, we expect the quotation to continue to decrease in direction of the trend with the target at $0.24.

BCH/USD
Overview:
Trend is bearish.

Current situation:
Bitcoin Cash is traded near the support line of the growth channel at $530- $520. In the event of a bounce in the price of BCH/USD from the support line and the subsequent departure of the price above the $550 level, it will give us a long-distance signal with a target in the $650- $680 zone. The price going below $500 is the cancelation of the long-term scenario.

Resistance levels: $540; $585; $600; $620; $650; $680.
Support levels: $500; $470; $450; $400.

Forecast:
The decrease in the price of Bitcoin Cash from the level of $680 and the targets of $450, $400.

LTC/USD
Overview:
Trend is bearish.

Current situation:
Litecoin price continues to trade near the level of $55. We expect correction of LTC / USD quotation in the $65- $70 zone. Otherwise, the price of Litecoin will leave to update its lows near the $46 mark from the current levels.

Resistance levels: $58; $60; $62; $65; $67; $72; $75.
Support levels: $55; $50; $46.

Forecast:
Continued reduction in the price of Litecoin, after the correction is over in the $65- $70 zone. The goal of the decrease is $46.