Trend Analysis: BTC ETH XRP BCH LTC

8. Aug. 2018

BTC/USD
Overview:
The trend for Bitcoin remains descending. 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 fell below the support level of the rising channel at $6800. At the moment, the price is trading near the $6500 mark. Sales remain in priority. Levels of correction upwards: $6750. $6800. $6850. From these markers, the price with a high probability will continue its decline to levels: $5780. $5400. Cancelation of the short script - breaking through the $7160 level and consolidating above it.

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

Resistance levels: $6750. $6850. $7000. $7160; $7500; $7800; $8000; $8300; $8500; $8650; $8800.
Support levels: $6120; $6354; $6100; $5940; $5780; $5450.

Forecast:
Reducing the price of BTC/USD from the levels: $6750. $6800. $6850. The option is also possible without price correction. The target of reducing the BTC/USD asset is in the $6000- $5800 zone.

ETH/USD
Overview:
The global trend remains descending.

Current situation:
Situation on Ethereum remains short. The maximum level of correction of the ETH/USD quotation is to the zone of $380- $400. Short-term target of price drop is $360. If Ethereum price does not stop its decline at $360. then the next target will be at around $300. Transaction for the sale are in priority.

Resistance levels: $380; $400; $420; $440; $485; $515; $555; $585.
Support levels: $360; $300.

Forecast:
Reduction of Ethereum price to $360 (April minimum).

XRP/USD
Overview:
Downtrend

Current situation:
The Ripple price is trading near the $0.35 level. Transaction for the sale are in priority. The target of XRP/USD price drop is near the level of $0.30. The maximum possible correction level is $0.39, $0.40. In addition, the continuation of the price reduction to the level of $0.30 without correction upwards is entirely possible.

Resistance levels: $0.38; $0.40; $0.44; $0.47; $0.52; $0.54.
Support levels: $0.35, $0.30.

Forecast:
The continuation of the price drop to $0.30

BCH/USD
Overview:
Trend is bearish.

Current situation:
The price fell below $650. We expect a price correction to the $650- $680 zone and then the decline to levels: $600; $550. The option is also possible without price correction.

Resistance levels: $650; 680$; $740; $760; $780; $820; $840; $890; $930; $970; $1020.
Support levels: $600; 550.

Forecast:
Bitcoin Cash price drop to the $600- $550 zone.

LTC/USD
Overview:
Trend is bearish.

Current situation:
Litecoin is trading below $70. Sales remain in priority. The target of the decline is $60. The level of possible correction for the Litecoin asset is $68, $70. LTC/USD price drop may continue without correction upwards.

Resistance levels: $70; $72; $75; $78; $80; $90; $94; $100.
Support levels: $65; $60.

Forecast:
Litecoin price drop from level $65 with a target of $60.