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Top 3 crypto price analysis: Bitcoin, Litecoin and Ripple approach key levels

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.

Author

Tomas Salles

Tomas Salles

FXStreet

Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.

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