Trend Analysis: BTC ETH XRP BCH LTC
BTC/USD
Current situation: The BTC/USD quotation after the test of the level of $3500 went downwards to a correction to the level of $4050 and broke through it. We expect the continuation of the BTC/USD correction up to levels: $5200, $5700, and possibly to the level of $6100.
On the daily chart, you can see the expansion of the downward channel with the support line near the 2000 mark. If Bitcoin prices go below $3000, then we are most likely to see a quote near the $2000 support line.
Cancellation of the scenario may be caused by Bitcoin price increase above $6100.
Resistance levels: $4050; $4350; $4500; $5000; $5700; $6100; $6400.
Support levels: $3,500; $3,000.
Forecast:
After the end of the upward correction, the continuation of the BTC/USD price reduction to the zone of $3000- $2000.
ETH/USD
Current situation:
The quotation of the Ethereum tested the level of $100 twice and went up. At the moment, we characterize this growth as a correction in the price of ETH/USD, after a prolonged fall. The projected levels of correction up: $130, $165, $185.
After the end of the correction, we predict a further decline in the price of Ethereum to the zone: $90- $85.
Resistance levels: $120; $130; $150; $185; $195; $220; $240.
Support levels: $114; $110; $100; $90; $85.
Forecast:
After the end of the correction, the continuation of the ETH/USD price drop to $90- $85 zone.
XRP/USD
Current situation: After the end of the correction, we expect the decline of Ripple to continue to the levels: $0.30, $0.25. Also, we do not exclude a deeper immersion of XRP/USD quotes to $0.20- $0.15.
The projected levels of correction upwards of Ripple are as follows $0.40, $0.44, $0.47.
Resistance levels: $0,38; $0,44; $0,50; $0,58; $0,70; $0,76.
Support levels: $0.30; $0.20; $0.15.
Forecast:
Reduction of the price of Ripple to levels: $0.30, $0.25.
BCH/USD
Current situation:
The price of BCH/USD continues its correction and is currently near the $188 mark. At the moment, the price is trading near the $180 mark. We expect a continued decline in Bitcoin Cash to levels: $150, $120 and $100.
Predicted correction levels: $200, $210
Resistance levels: $200; $220; $300; $350; $400; $425.
Support levels: $160; $150.
Forecast:
BCH/USD price reduction to levels: $150, $120; $100.
LTC/USD
Current situation:
Litecoin price continued its growth and is currently trading above $30. We expect LTC/USD quotes in the range of $25- $20.
Predicted levels of correction upwards of Litecoin are as follows $40, $42 and $46.
Resistance levels: $35; $40; $46; $49; $50; $54; $58.
Support levels: $30; $27; $25.
Forecast:
Litecoin price reduction to $25.
Current situation: The BTC/USD quotation after the test of the level of $3500 went downwards to a correction to the level of $4050 and broke through it. We expect the continuation of the BTC/USD correction up to levels: $5200, $5700, and possibly to the level of $6100.
On the daily chart, you can see the expansion of the downward channel with the support line near the 2000 mark. If Bitcoin prices go below $3000, then we are most likely to see a quote near the $2000 support line.
Cancellation of the scenario may be caused by Bitcoin price increase above $6100.
Resistance levels: $4050; $4350; $4500; $5000; $5700; $6100; $6400.
Support levels: $3,500; $3,000.
Forecast:
After the end of the upward correction, the continuation of the BTC/USD price reduction to the zone of $3000- $2000.
ETH/USD
Current situation:
The quotation of the Ethereum tested the level of $100 twice and went up. At the moment, we characterize this growth as a correction in the price of ETH/USD, after a prolonged fall. The projected levels of correction up: $130, $165, $185.
After the end of the correction, we predict a further decline in the price of Ethereum to the zone: $90- $85.
Resistance levels: $120; $130; $150; $185; $195; $220; $240.
Support levels: $114; $110; $100; $90; $85.
Forecast:
After the end of the correction, the continuation of the ETH/USD price drop to $90- $85 zone.
XRP/USD
Current situation: After the end of the correction, we expect the decline of Ripple to continue to the levels: $0.30, $0.25. Also, we do not exclude a deeper immersion of XRP/USD quotes to $0.20- $0.15.
The projected levels of correction upwards of Ripple are as follows $0.40, $0.44, $0.47.
Resistance levels: $0,38; $0,44; $0,50; $0,58; $0,70; $0,76.
Support levels: $0.30; $0.20; $0.15.
Forecast:
Reduction of the price of Ripple to levels: $0.30, $0.25.
BCH/USD
Current situation:
The price of BCH/USD continues its correction and is currently near the $188 mark. At the moment, the price is trading near the $180 mark. We expect a continued decline in Bitcoin Cash to levels: $150, $120 and $100.
Predicted correction levels: $200, $210
Resistance levels: $200; $220; $300; $350; $400; $425.
Support levels: $160; $150.
Forecast:
BCH/USD price reduction to levels: $150, $120; $100.
LTC/USD
Current situation:
Litecoin price continued its growth and is currently trading above $30. We expect LTC/USD quotes in the range of $25- $20.
Predicted levels of correction upwards of Litecoin are as follows $40, $42 and $46.
Resistance levels: $35; $40; $46; $49; $50; $54; $58.
Support levels: $30; $27; $25.
Forecast:
Litecoin price reduction to $25.
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