Cryptocurrencies price prediction: Bitcoin, Ripple & Litecoin - American Wrap - 28 February
|Bitcoin Price Analysis: Is this just a small blip?
Bitcoin is moving lower on Friday but it has found some short term support.
The BTC/USD found support at the 2.00 Fib extension level close to 8,500.
On the topside, the area to watch for resistance is marked in red.
This red zone has been used as support and resistance in the past and if broken could indicate the move lower was just a blip.
If the price bounces off there and moves down, this could indicate we are in the 3rd wave of an Elliott structure and more pain is to come.
Ripple Price Analysis: XRP/USD is stuck in the middle of a very congested area
Ripple has had a serious fall from grace since hitting 0.3463 on February 15th.
Now the price has started to find some support at 0.2250.
This is a key level as it has been used in the past.
Above this level 0.2525 has been used 7 times on this chart alone.
And below the current price, 0.2126 is the next major support.
Litecoin Price Analysis: LTC/USD break of $50 would be devastating
Following the deadly evening star formation in the week of 14 February, downside pressure has been observed.
LTC/USD daily chart
The price is consolidating, for now, following three deep sessions to the south for LTC/USD earlier in the week.
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