Bitcoin, Ethereum, Litecoin & Ripple: short-term technical analysis


  • Typical consolidation day in the crypto-board while indicators adjust after last week's rises.
  • Interest in cryptos increases shyly after first real turnaround possibility.

Yesterday was a quiet, positive day. It was an easy day for most assets, although they are getting renewed, positive attention. Today, Barclay's LTD announced the creation of a crypto market negotiation board, another row in the list of financial businesses using cryptos. Each new such initiative supports their validity as value change tool.

BTC/USD 240 min

Bitcoin moved downwards yesterday, trading below $8,100 most of the day. A usual strategy used to get rid of weak positions without damaging the price. Below, there are still yesterday's supports, the main one on the closing price of $7,980. A strong support stands at the 200-SMA and 50-EMA, $7,700. In the bearish extreme, a price range between $7,300 and $7,400.

Above, it needs to close past $7,400, consolidate that level and continue to $8,950, a difficult obstacle.

The 240 min MACD keeps adjusting the height, but it shows the possibility of a new surge in the late European session.

The Directional Movement Index also shows a small purchases upturn. Sales are still below but close, although a sudden change could yield control to sellers.

LTC/USD 240 min

Litecoin is full of bullish force in the European morning, getting to its next resistance, the last relative maximum at $134. Above, the 200-SMA at $137, with few chances of a clean break. If it manages to surpass it, it would send a strength message that would activate buys. The next resistances would be at $139, $148 and $158. Below, there isn't any important support until the 50-EMA at $125.30, followed by the 100-SMA at $120.93.

The 240 min MACD is similar to Bitcoin's. Divergent profile that shouldn't be an obstacle for a bullish continuation, but only a structural weakness sign.

The Directional Movement Index is positive for Litecoin, with the D+ breaking to the upside the ADX while sellers retreat.

XRP/USD 240 min

Ripple followed a similar path to Bitcoin's, consolidating its current level with some bearish walk to get rid of weak hands. It now moves below the support, while the moving averages develop rising slopes and adapt to the new setting.

The MACD mimics Bitcoin's and Litecoin's, with hopes of a new upside cross that wouldn't reach the recent maximums. Bullish continuation with weakness signs if the move is not wide enough.

In the Directional Movement Index, the D+ can't reach past the ADX but shows a rising reaction. Sellers decrease slightly and can't get to the 20 mark. The ADX comes with the price rises, after a decreasing trend.

ETH/USD 240 min

Ethereum follows the same way as the rest. It consolidated the price range reached previously. Key support at $487, with the 50-EMA, now at $477, is getting closer from below. The 200-SMA is at $465.

The MACD and its predictions are identical to the rest.

The 240 min Directional Movement Index is the weakest of all 4 assets. In spite of buyers having control, their volume is too low and the ADX doesn't react either. Indicator to look at in the next sessions.

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin: 100x growth in next 9 years?

BTCC head Bobby Lee waits for Bitcoin for $1 million in 9 years due to the unwise policy of central banks, as well as due to demand on "digital gold". But this is then, and for now, Bitcoin is unable to hold even above $9K.

More Bitcoin News

Litecoin (LTC) locked in a range amid low market activity

Litecoin (LTC), the sixth-largest digital asset, has been moving sideways recently. The coin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. 

More Litecoin News

Crypto Today: China promises not to use digital Yuan to intrusion

The main actors of the crypto board continue to express the lack of trend force that began on Monday. Cardano stands out today with a rise of 2.15% against the US dollar.

More Cryptocurrencies News

Ripple price prediction: XRP/USD drifts towards $0.2700 – Confluence Detector

Ripple’s XRP has been drifting down towards the support area at $0.2700 since the beginning of the week. The coin touched $0.2893 low on Monday, though a host of stop orders located around $0.2700 stopped the sell-off and pushed the price to $0.2730.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

BTC

ETH

XRP