Home Litecoin Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) Outlook: Resistance in Focus after Bounces – DailyFX

Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) Outlook: Resistance in Focus after Bounces – DailyFX

5 min read
0
68

Bitcoin (BTC/USD), Litecoin (LTC/USD), Ethereum (ETH/USD), Technical Evaluation – Speaking Factors

  • Bitcoin approaching all-time highs after interval of consolidation
  • Litecoin buying and selling in a Symmetrical Triangle, awaiting breakout
  • Ethereum upside momentum fading forward of report highs

Bitcoin Trading

Recommended by Daniel Dubrovsky

Get Your Free Introduction To Bitcoin Trading

Get My Guide

Bitcoin Technical Outlook

Bitcoin finds itself round comparable ranges seen through the center of February. Whereas the dominant uptrend continues to carry – through rising help from January on the each day chart beneath – the trail since February 21 has been pretty uneven. The 58367 – 61788 resistance zone is now in focus, standing in the best way from reaching new highs.

Preserve an in depth eye on RSI. Earlier in March, unfavorable divergence emerged, exhibiting fading upside momentum. That ended up previous a flip decrease. Falling underneath rising help from January might pave the best way to revisit 50305. Beneath that value sits the 43016 – 44850 help zone. In any other case, breaking the all-time excessive exposes the midpoint of the Fibonacci extension at 668333.

BTC/USD – Every day Chart

Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) Outlook: Resistance in Focus after Bounces

Chart Created in TradingView

Litecoin Technical Outlook

Litecoin seems to be buying and selling inside a impartial Symmetrical Triangle chart sample. The route of the breakout could decide the subsequent key transfer in LTC/USD. A break above the ceiling of the triangle might open the door to revisiting peaks from earlier this yr. That’s when Litecoin topped because it struggled to push above highs from February 2018 – see chart beneath.

Then again, Litecoin is quick approaching falling resistance. A take a look at and maintain might find yourself previous a flip decrease. That might place the concentrate on the rising flooring of the triangle. The 100-day Easy Transferring Common might also come into play quickly as a key help level. Falling underneath the triangle could open the door to extending February’s high, inserting the concentrate on lows from the identical month.

Discover what kind of forex trader you are

Start Quiz

LTC/USD – Every day Chart

Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) Outlook: Resistance in Focus after Bounces

Chart Created in TradingView

Ethereum Technical Outlook

Following choppiness for the reason that latter half of February, Ethereum is as soon as once more testing the vital 1942 – 2038 resistance zone. Detrimental RSI divergence does warn that this time could also be just like final, when ETH/USD turned decrease to check rising help from the start of the yr. Such a near-term drop could not find yourself overturning the dominant uptrend.

Very similar to with Litecoin, the 100-day SMA could quickly come into focus within the occasion of a flip decrease. 1544 would even be a vital stage to observe. Breaking it might pave the best way to revisiting the February 28th low at 1295. In any other case, pushing above instant resistance exposes the midpoint of the Fibonacci extension at 2158. Above that’s the 61.8% stage at 2362.

ETH/USD – Every day Chart

Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) Outlook: Resistance in Focus after Bounces

Chart Created in TradingView

— Written by Daniel Dubrovsky, Strategist for DailyFX.com

To contact Daniel, use the feedback part beneath or @ddubrovskyFX on Twitter

Let’s block ads! (Why?)




Source link

Leave a Reply

Your email address will not be published.

Check Also

New "Elon Musk Club" crypto giveaway scam promoted via email – BleepingComputer

A brand new Elon Musk-themed cryptocurrency giveaway rip-off referred to as the “Elo…