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 file highs
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Bitcoin Technical Outlook
Bitcoin finds itself round related ranges seen throughout the center of February. Whereas the dominant uptrend continues to carry – by way of rising assist from January on the day by day chart beneath – the trail since February 21 has been pretty uneven. The 58367 – 61788 resistance zone is now in focus, standing in the way in which from reaching new highs.
Preserve an in depth eye on RSI. Earlier in March, unfavourable divergence emerged, displaying fading upside momentum. That ended up previous a flip decrease. Falling below rising assist from January may pave the way in which to revisit 50305. Under that worth sits the 43016 – 44850 assist zone. In any other case, breaking the all-time excessive exposes the midpoint of the Fibonacci extension at 668333.
BTC/USD – Every day Chart
Litecoin Technical Outlook
Litecoin seems to be buying and selling inside a impartial Symmetrical Triangle chart sample. The course of the breakout might decide the following key transfer in LTC/USD. A break above the ceiling of the triangle may 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 may find yourself previous a flip decrease. That will place the deal with the rising flooring of the triangle. The 100-day Easy Shifting Common might also come into play quickly as a key assist level. Falling below the triangle might open the door to extending February’s prime, putting the deal with lows from the identical month.
LTC/USD – Every day Chart
Ethereum Technical Outlook
Following choppiness because the latter half of February, Ethereum is as soon as once more testing the important 1942 – 2038 resistance zone. Unfavourable RSI divergence does warn that this time could also be much like final, when ETH/USD turned decrease to check rising assist from the start of the yr. Such a near-term drop might not find yourself overturning the dominant uptrend.
Very like with Litecoin, the 100-day SMA might quickly come into focus within the occasion of a flip decrease. 1544 would even be a important stage to look at. Breaking it may pave the way in which to revisiting the February 28th low at 1295. In any other case, pushing above fast resistance exposes the midpoint of the Fibonacci extension at 2158. Above that’s the 61.8% stage at 2362.
ETH/USD – Every day Chart
— Written by Daniel Dubrovsky, Strategist for DailyFX.com
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