Trend Analysis: BTC ETH XRP BCH LTC
BTC/USD
Overview:
The Bitcoin trend remains downward. All highs and lows prices have a declining trend, which is typical for a bear market.
If the BTC/USD price drops below $5700, where the uptrend line is located (the trend has been formed since March 2017), then the long-term goals of decline will be in the area: $4000- $3000.
Current situation:
BTC/USD quotation continues to be in the consolidation range of $6400 - $6600. We expect a decline in prices to levels: $6100, $5700.
In our opinion, the price of Bitcoin may drop to $5000. But this scenario is possible when the price falls below $6100- $5700.
Cancellation of the scenario of the asset reduction may be caused by the growth above $7400.
Resistance Levels: $6500; $6800; $6900; $7200; $7400.
Support levels: $6400; $6100; $5800; $5400; $4500.
Forecast:
Reduction of the price of Bitcoin from $6500 with targets: $6100, $5700.
ETH/USD
Overview:
The global trend remains downward.
Current situation:
The price of Ethereum is being traded near the level of 220. We are still expecting a decline in the price of ETH/USD to the zone of $180 - $150.
A rise in the price of Ethereum above $240 will mean a return to the upward channel in order to increase $270.
Resistance Levels: $220; $240, $270; $300; $325; $350; $380; $400
Support levels: $200; $180; $150; $100
Forecast:
Reduction of the price of ETH/USD from $220 and the goal in the area of $180- $150.
XRP/USD
Overview:
The trend is downward.
Current situation:
Ripple’s quotation broke through an important support level of $0.50. We expect the asset price to fall to $0.42— $0.38.
Resistance levels: $0.50; $0.58; $0.70; $0.76.
Support levels: $0.42; $0.38.
Forecast:
Reduction of the price of Ripple from $0.48 and the goal in the zone of $0.42- $0.38.
BCH/USD
Overview:
The trend is bearish.
Current situation:
Bitcoin Cash price remains above $500. We expect the BCH/USD price reduction to the level of 450, we also do not exclude the breakthrough of this level and the quotes departure to levels: $400, $350.
Resistance Levels: $520; $560; $600; $650; $680; $800
Support levels: $500; $450; $400; $380
Forecast:
Reduction of the price of BCH/USD from $510 and a target in the area of $400 - $350.
LTC/USD
Overview:
The trend is bearish.
Current situation:
The quotation of Litecoin remains below the support line of the ascending channel (level $60). We still expect the LTC price to drop to $46.
Resistance levels: $58; $60; $62; $65; $68; $72; $75
Support levels: $54; $50; $49; $46.
Forecast:
Reduction of the price of Litecoin from $58 with a target of $46.
Overview:
The Bitcoin trend remains downward. All highs and lows prices have a declining trend, which is typical for a bear market.
If the BTC/USD price drops below $5700, where the uptrend line is located (the trend has been formed since March 2017), then the long-term goals of decline will be in the area: $4000- $3000.
Current situation:
BTC/USD quotation continues to be in the consolidation range of $6400 - $6600. We expect a decline in prices to levels: $6100, $5700.
In our opinion, the price of Bitcoin may drop to $5000. But this scenario is possible when the price falls below $6100- $5700.
Cancellation of the scenario of the asset reduction may be caused by the growth above $7400.
Resistance Levels: $6500; $6800; $6900; $7200; $7400.
Support levels: $6400; $6100; $5800; $5400; $4500.
Forecast:
Reduction of the price of Bitcoin from $6500 with targets: $6100, $5700.
ETH/USD
Overview:
The global trend remains downward.
Current situation:
The price of Ethereum is being traded near the level of 220. We are still expecting a decline in the price of ETH/USD to the zone of $180 - $150.
A rise in the price of Ethereum above $240 will mean a return to the upward channel in order to increase $270.
Resistance Levels: $220; $240, $270; $300; $325; $350; $380; $400
Support levels: $200; $180; $150; $100
Forecast:
Reduction of the price of ETH/USD from $220 and the goal in the area of $180- $150.
XRP/USD
Overview:
The trend is downward.
Current situation:
Ripple’s quotation broke through an important support level of $0.50. We expect the asset price to fall to $0.42— $0.38.
Resistance levels: $0.50; $0.58; $0.70; $0.76.
Support levels: $0.42; $0.38.
Forecast:
Reduction of the price of Ripple from $0.48 and the goal in the zone of $0.42- $0.38.
BCH/USD
Overview:
The trend is bearish.
Current situation:
Bitcoin Cash price remains above $500. We expect the BCH/USD price reduction to the level of 450, we also do not exclude the breakthrough of this level and the quotes departure to levels: $400, $350.
Resistance Levels: $520; $560; $600; $650; $680; $800
Support levels: $500; $450; $400; $380
Forecast:
Reduction of the price of BCH/USD from $510 and a target in the area of $400 - $350.
LTC/USD
Overview:
The trend is bearish.
Current situation:
The quotation of Litecoin remains below the support line of the ascending channel (level $60). We still expect the LTC price to drop to $46.
Resistance levels: $58; $60; $62; $65; $68; $72; $75
Support levels: $54; $50; $49; $46.
Forecast:
Reduction of the price of Litecoin from $58 with a target of $46.
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