Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin - American Wrap - 27 February
|Bitcoin Price Analysis: A break higher could confirm that the dip was just temporary
As Bitcoin tries to find a base from the fall earlier in the week a strong resistance has emerged.
The 9,500 level matches with the 50% Fibonacci and could become more important.
If the price breaks above there it will break the series of lower highs and lower lows.
If the level is rejected it could confirm the pair is in a 3rd wave (Elliott Wave) lower.
The 3rd wave is traditionally the longest so the market could be in for a hard time.
Ethereum Price Analysis: ETH/USD 1-Hour chart recovery halts at key Fibonacci level
Ethereum fell around 27% from the high seen on February 18th.
Now there have been some signs of a small recovery but more data is needed.
Today the price has moved 4.5% higher but stopped short on the 38.2% Fibonacci level (240.00).
For the downtrend to continue a close below 215.00 would be needed.
Litecoin Price Analysis: LTC/USD now has to break down a huge barrier at $65
Litecoin price is trading in positive territory by 5.50% in the session on Thursday.
LTC/USD is now running towards its fourth potential consecutive session firmly in the red.
A critical trend line of support was breached at around $72, inviting fresh selling.
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