Cryptocurrencies price prediction: Bitcoin, Ethereum, Litecoin - American Wrap - 12 September


BTC/USD technical analysis: Nice price pattern breakout could lead to higher levels

On the intraday timeframe, there was a nice pattern breakout in the BTC/USD pair.

There was a descending wedge formation in the price action yesterday as 10k was defended yet again.

Price is now headed to the value area on the chart pointed out by the volume profile indicator on the left.

The peak of the bell curve represents the price were most contracts have been traded.

Currently, the price is USD 100 away from that level but is looking positive and could reach there this evening.

Ethereum price analysis: ETH/USD struggles to break $180 resistance

Ethereum is gradually moving down. Moreover, it has recently broken the $180 support area. Before the lower correction, ETH had formed a short-term top near $183.

The 50 Simple Moving Average on the four-hour chart is moving above SMA 100 indicating an uptrend momentum. The main support area is at $177 as indicated by SMA 100 while the second support is at $178 as shown by SMA 50.

The Relative Strength Index (RSI) is recovering towards the overbought. Traders must be on the lookout for signs of a reversal as Ethereum approaches overbought conditions in the near-term.  

Litecoin technical analysis: LTC/USD bears have tested critical support in the session

Litecoin price on Thursday is trading in negative territory by 0.18% in the second half of the session. 

LTC/USD price action is stuck within the confinements of a bearish flag formation.

The bears in the session have tested the lower acting trend line of the above-noted structure but holding for now. 

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The BTC/USD pair is currently trading at the $10.187 price level, the same price level as in recent weeks. The most serious difficulty for Bitcoin is the low volatility, after many days in the same price range, strength and speed indicators are at minimum levels. It will not be easy to start again.

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Ethereum (ETH) price analysis: ETH/USD settles above $200.00 amid altcoins'bull run

The second-largest cryptocurrency with the current market capitalization of $22.9 billion hit $215.18 during early Asian hours. While the coin has retreated to $212.40 by the time of writing, the upside momentum remains strong as the coin stays above a critical $200.00.

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NEO price analysis: NEO/USD retreats from intraday high, upside momentum recedes

NEO is performing strongly on Wednesday. The 20th largest digital asset with the current market value of $69 million gained over 7% both on a day-on-day basis and moved nearly 3% higher since the beginning of the day.  At the time of writing, NEO/USD is changing hands at $9.80, off the intraday high of $9.87. 

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TRON market update: TRX/USD tests DMA50 for the first time since July

TRON (TRX) is one of the best performing coins on Wednesday. TRX/USD has gained over 10% of its value to trade at $0.0178 by press time. While the coin has retreated from the intraday high ($0.0178), the upside momentum is still strong as TRX is moving in sync with the rest of the market. 

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Bitcoin finishes the week with marginal losses. The first digital currency recovered from the recent low of $9,886 but stayed in the red zone as of the end of the week.

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