Top 3 crypto price analysis: Bitcoin, Litecoin and Ripple approach key levels
|- Cryptos price keeps moving down. Important levels on the horizon.
- Check out Bitcoin, Litecoin and Ripple's live price.
Ripple doesn't react and moves away from main cryptocurrencies
Ripple continues its downhearted journey, locked up in a contrived technical setting that signals laterality from the February 10 relative maximum.
XRP/USD 240 min
Ripple experienced a new low volatility session, enclosed in a small range of cts/$. It is very close to a key support at $0.90, where the price rested after the heavy January losses. That level became the shoulder of a H&S pattern, and losing it would be dreadful news for Ripple's price.
The MACD confirms the lack of a clear trend. It is very flat, it is moving slightly below the 0. The most likely scenario is a continuation of the lateral, narrow range move tending to decrease.
The Directional Movement Index shows the sellers on control, but it is developing a pattern that tends to end up with the buyers regaining control. If this happened at $0.90, it would be a strong bullish signal.
Above, the first resistance is at $1.06, followed by $1.14. The third level is at the relative maximum $1.226.
Below, the $0.90 level, followed by $0.728. If lost, the next one is the February 6 minimum at $0.569.
Bitcoin and Litecoin face similar challenges
Bitcoin is at the time of writing at $10,300, and continues the downwards move started on late Monday, which will lead it to $10,000 very soon. This is a key technical level, because it is the shoulder of the January's H&S pattern. Litecoin and Ethereum are in equivalent settings and developing similar movements.
BTC/USD 240 min
The MACD shows a downwards but positive trend. There is room between line and signal, so we can't dismiss it to become negative, something that would speed up losses.
The Directional Movement Index favors sellers, although the purchases level is quite high. The D- is above the ADX, a signal that strengthens the bearish potential.
Above, the first goal is at $11,117, followed by $12,000. If broken, Bitcoin would enter a definite bullish trend.
Below, the first support is at $10,000. If lost, the next levels are $9,500 and $8,980.
LTC/USD 240 min
Litecoin is in a better technical environment, despite it is facing the bottom of the small upwards channel where it stands. At the time of writing, it is at $207.52, with the channel's support at $204.95. This level is the 38.2% Fibonacci retreat.
The MACD is more favorable than Bitcoin's. Despite the downward trend, it is positive and its curvature suggests a possible upwards turn.
The Directional Movement Index shows total equilibrium between sales and purchases and supports the 'potentially bullish neutrality' analysis.
Above, the first resistance to meet is at $222.75, followed by $238.87.
Below, the first support stands at $204.95. If lost, the next ones are at $175.45 and $152.68.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.