Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin - American Wrap - 24 February
|Bitcoin Price Analysis: The wave pattern suggests further weakness
Bitcoin is having a down day on Monday.
The digital gold is trading over 3% lower on a bad day for cryptocurrencies.
The chart below shows the Elliott Wave count on the 4-Hour chart.
We could now be in the 3rd wave lower which is normally the longest but never the shortest wave down in the wave formation.
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Ethereum Price Analysis: ETH/USD bullish pennant subject to a breakout
Ethereum price is trading in the red by 2.10% in the session on Monday.
ETH/USD price action is moving within a narrowing pennant structure, room for the bulls to capitalize.
Critical support should be noted via the $250-40 price range, propping up ETH.
Litecoin Price Analysis: LTC/USD finds some support at 74.00
Litecoin has found some support after having a torrid start to the session on Monday.
There could be some resistance at 75.00 and 80.00 beyond that.
The volume has also picked up during this latest small buying spree.
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