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Litecoin

Bitcoin, Ethereum and Litecoin Price Analysis: 08 August

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Bitcoin closed above $45,000, for the first time since May 19, and this milestone pumped the altcoins too. BTC’s next resistance is at $48,000,  whereas, Ethereum eyed a move towards $3500. Conversely, Litecoin failed to mimic its larger counterparts as it noted a minor decline in prices.

Bitcoin (BTC)

Bitcoin, Ethereum and Litecoin Price Analysis: 08 August

BTC/USD, TradingView

BTC traded at $45,312 after closing above an important resistance level of $42,000. The next is resistance  at $48,000. The 4-hour chart of BTC pointed towards strengthening of the bulls in the market.

Parabolic SAR’s dotted lines were seen below the candlesticks implying a rise in prices. Green signal bars amplified on the Awesome Oscillator suggesting bullish momentum along with an increased buying pressure. The Relative Strength Index was spotted in the overbought zone validating the aforementioned statement. 

In case of a decline, the first support lies at $42,770 and then at $41,172. 

Ethereum(ETC)

Bitcoin, Ethereum and Litecoin Price Analysis: 08 August

ETH/USD, TradingView

Ethereum registered impressive gains right after the London Hard Fork.  It gained almost 15% over the last two days after the London Hard Fork.  It was valued at $3139 at press time, however, it recorded minor gains of 2% since yesterday.

If ETH continues to rise, the resistance to watch out for, would be at $3500. On the flip side, the support region for ETH is at $2800 and $2400.

Buying pressure mounted as the Relative Strength Index displayed overbought conditions in the market. Capital inflows remained higher than outflows at the time of writing and the MACD indicator continued to observe green bars, however, the indicator also noted declining bullish momentum.

Litecoin (LTC)

Bitcoin, Ethereum and Litecoin Price Analysis: 08 August

LTC/USD, TradingView

LTC was priced at $155 after it increased by 1% yesterday. The technical outlook for LTC remained bullish. However, if the coin remained at the current price level over upcoming trading sessions, it could fall to its support level of $143.

On the upside, it could again try to cross the $156 resistance level. MACD despite trading above the half-line noted receding buying pressure. Awesome Oscillator displayed a green signal bar after a session of trading in the red, which verified the ab0ve mentioned reading. 

Bollinger Bands, however, opened up underlying chances of increased market volatility. 

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Bitcoin

Bitcoin Long-Term Buy Indicator Just Flashed as BTC faces Critical Resistance (Price Analysis)

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BTC has continued to push up with impressive spot volume hitting an intraday high of $45.3k even during weekend trading.

The cryptocurrency is now testing one of the most critical levels of resistance at the 200-day moving average. Successfully reclaiming this level will trigger a significant buy signal in technicals, likely encouraging large momentum traders and other market participants to enter the market, further adding to buying pressure in an already supply exhausted state.

img1 (7)
Chart by TradingView

Another critical level that must be reclaimed for further upside is the 21-week moving average at $44.5K

Overall, the BTC technicals, structure, momentum, on-chain data, and sentiment have been trending higher, showing early signs of a strong recovery. One of the biggest signals of a market reversal is BTC futures open interest increasing throughout the 3-month long consolidation while funding rates were consistently negative, implying the market was net-short BTC, increasing the probability of an eventual short squeeze.

Strong spot buying, led to a massive short squeeze and pushed BTC from the lows of $28.8k to an intraday high of $45.3k

Near-Term Technicals Spell Caution

Near-term technicals appear to be overbought, with bearish divergence forming on the 4-hour chart. This suggests the BTC price could be entering a period of consolidation around current levels to prepare for the next major move.

Long-Term Buy Signal Flashing

What’s very interesting is the BTC Hash Ribbon Indicator has turned bullish on the day BTC is testing the 200-day MA. The Hash Ribbon simply measures the hash rate of the Bitcoin network over a 30-day and 60-day moving average. When the 30-day moving average crosses above the 60-day moving average, this signals potential miner capitulation – an indication that strength is returning to the Bitcoin network in hashrate.

img2
Chart by TradingView

The bullish cross on the BTC Hash Ribbon indicator is considered a long-term buy signal for BTC. It’s more of a lagging indicator as BTC price does not immediately rally when it flashes. The 2 previous buy signals that flashed during major recoveries in BTC hash rate, saw near-term price consolidation, then eventually a significant rally higher.

img3 (4)
Chart by TradingView
img4 (3)
Chart by TradingView

Given the near-term overbought conditions for BTC, we could see a consolidation first, before a large rally. Ideally, a near-term consolidation would be healthier for the technical structure and make the recovery more sustainable.

The weekly close for BTC is coming up at a time where the 200-day moving average is being tested with a fundamental long-term buy signal flashing. Bulls are now waiting for one of the largest technical buy signals to flash.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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Litecoin

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 6th, 2021

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Ethereum

Ethereum rose by 3.84% on Thursday. Following an 8.63% rally on Wednesday, Ethereum ended the day at $2,829.39.

A bearish start to the day saw Ethereum fall to a mid-day intraday low $2,534.30 before making a move.

Coming within range of the first major support level at $2,530, Ethereum rallied to a late intraday high $2,845.00.

Ethereum broke through the 38.2% FIB of $2,740 to test the first major resistance level at S2,845 before easing back.

At the time of writing, Ethereum was up by 0.56% to $2,845.18. A mixed start to the day saw Ethereum fall to an early morning low $2,823.01 before rising to a high $2,845.54.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to avoid the 38.2% FIB of $2,740 and the $2,736 pivot to bring the first major resistance level at $2,938 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Thursday’s high $2,845.00.

Barring an extended crypto rally, the first major resistance level and resistance at $3,000 would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could test resistance at $3,150 before any pullback. The second major resistance level sits at $3,047.

A fall through the 38.2% FIB of $2,740 and the $2,736 pivot would bring the first major support level at $2,628 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,600 levels. The second major support level sits at $2,426.

Looking at the Technical Indicators

First Major Support Level: $2,628

Pivot Level: $2,736

First Major Resistance Level: $2,938

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 0.74% on Thursday. Following a 2.94% gain on Wednesday, Litecoin ended the day at $143.60.

Tracking the broader market, Litecoin fell to a mid-day intraday low $136.25 before making a move.

Litecoin fell through the first major support level at $137 before rallying to a late intraday high $145.25.

Falling short of the first major resistance level at $146, however, Litecoin eased back to end the day at sub-$144 levels.

At the time of writing, Litecoin was up by 0.20% to $143.88. A mixed start to the day saw Litecoin fall to an early morning low $143.60 before rising to a high $144.05.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to avoid the $142 pivot to bring the first major resistance level at $147 into play.

Support from the broader market would be needed, however, for Litecoin to breakout from $145 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another extended breakout, Litecoin could test the second major resistance level at $151.

A fall through the $142 pivot would bring the first major support level at $138 into play.

Barring another extended sell-off, however, Litecoin should continue to steer clear of sub-$135 levels. The second major support level sits at $133.

Looking at the Technical Indicators

First Major Support Level: $138

Pivot Level: $142

First Major Resistance Level: $147

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 0.31% on Thursday. Following a 2.12% gain on Wednesday, Ripple’s XRP ended the day at $0.73321.

A bearish start to the day saw Ripple’s XRP fall to a mid-day intraday low $0.70170 before making a move.

Ripple’s XRP fell through the first major support level at $0.7043 before rallying to a late intraday high $0.73866.

Falling short of the first major resistance level at $0.7479, however, Ripple’s XRP eased back to end the day at sub-$0.735 levels.

At the time of writing, Ripple’s XRP was up by 0.34% to $0.73572. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.73399 before rising to a high $0.73572.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to avoid the $0.7245 pivot to bring the first major resistance level at $0.7473 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.73866.

Barring an extended crypto rally, the first major resistance level and resistance at $0.75 would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.78 before any pullback. The second major resistance level sits at $0.7615.

A fall through the $0.7245 pivot would bring the first major support level at $0.7104 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.70 levels. The second major support level sits at $0.6876.

Looking at the Technical Indicators

First Major Support Level: $0.7104

Pivot Level: $0.7245

First Major resistance Level: $0.7473

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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Dogecoin

Dogecoin – Daily Tech Analysis – August 4th, 2021

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Dogecoin

Dogecoin slid by 3.54% on Tuesday. Following a 0.49% decline on Monday, Dogecoin ended the day at $0.1962.

A mixed the start to the day saw Dogecoin rise to an early morning intraday high $0.2051 before hitting reverse.

Falling short of the first major resistance level at $0.2083, Dogecoin slid to a mid-day intraday low $0.1929.

Dogecoin fell through the first major support level at $0.2001 and the second major support level at $0.1968.

Finding early afternoon support, Dogecoin briefly broke back through the second major support level before ending the day at sub-$0.1965 levels.

At the time of writing, Dogecoin was up by 1.18% to $0.1985. A mixed start to the day saw Dogecoin fall to an early morning low $0.1962 before rising to a high $0.1999.

Dogecoin left the major support and resistance levels untested early on.

For the day ahead

Dogecoin would need to avoid a fall back through the $0.1981 pivot to bring the first major resistance level at $0.2032 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.20 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.2051 would likely cap any upside.

In the event of another breakout, Dogecoin could test the second major resistance level at $0.2103.

A fall back through the $0.1981 pivot would bring the first major support level at $0.1910 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of the second major support level at $0.1859.

Looking at the Technical Indicators

First Major Support Level: $0.1910

Pivot Level: $0.1981

First Major Resistance Level: $0.2032

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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Dogecoin

Dogecoin – Daily Tech Analysis – August 3rd, 2021

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Dogecoin

Dogecoin fell by 0.49% on Monday. Following a 1.73% decline on Sunday, Dogecoin ended the day at $0.2034.

After a mixed the start to the day, Dogecoin rose to a mid-morning intraday high $0.2099 before hitting reverse.

Falling short of the first major resistance level at $0.2148, Dogecoin slid to a late intraday low $0.2017.

Steering clear of the first major support level at $0.1971, Dogecoin moved back through to $0.2030 levels to limit the downside.

At the time of writing, Dogecoin was up by 0.69% to $0.2048. A mixed start to the day saw Dogecoin fall to an early morning low $0.2020 before rising to a high $0.2050.

Dogecoin left the major support and resistance levels untested early on.

For the day ahead

Dogecoin would need to move back through the $0.2050 pivot to bring the first major resistance level at $0.2083 into play.

Support from the broader market would be needed, however, for Dogecoin to break back through to $0.2080 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $0.2099 would likely cap any upside.

In the event of another breakout, Dogecoin could test resistance at $0.2150 before any pullback. The second major resistance level sits at $0.2132.

Failure to move back through the $0.2050 pivot would bring the first major support level at $0.2001 into play.

Barring another extended sell-off, however, Dogecoin should steer clear of the second major support level at $0.1968.

Looking at the Technical Indicators

First Major Support Level: $0.2001

Pivot Level: $0.2050

First Major Resistance Level: $0.2083

23.6% FIB Retracement Level: $0.3016

38.2% FIB Retracement Level: $0.3859

62% FIB Retracement Level: $0.5221

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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Litecoin

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 2nd, 2021

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For the day ahead

Litecoin would need to move through the $143 pivot to bring the first major resistance level at $147 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $145 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $150 would likely cap any upside.

In the event of another extended breakout, Litecoin could test the second major resistance level at $155.

Failure to move through the $143 pivot would bring the first major support level at $136 into play.

Barring another extended sell-off, however, Litecoin should continue to steer clear of sub-$130 levels. The second major support level at $131 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $136

Pivot Level: $143

First Major Resistance Level: $147

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP fell by 2.83% on Sunday. Following a 0.89% loss on Saturday, Ripple’s XRP ended the week up by 19.54% to $0.72533.

After a mixed start to the day, Ripple’s XRP rose to a mid-morning intraday high $0.77741 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.7581 and the second major resistance level at $0.7697.

The reversal, however, saw Ripple’s XRP slide to a late intraday low $0.70587.

Ripple’s XRP fell through the first major support level at $0.7363 and the second major support level at $0.7262.

Steering clear of sub-$0.70 levels, Ripple’s XRP moved back through to $0.72 levels to reduce the deficit.

At the time of writing, Ripple’s XRP was up by 0.68% to $0.73027. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.72250 before rising to a high $0.73027.

Ripple’s XRP left the major support and resistance levels untested early on.

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Litecoin

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 31st, 2021

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Ethereum

Ethereum rose by 3.37% on Friday. Following a 3.59% gain on Thursday, Ethereum ended the day at $2,463.90.

A mixed start to the day saw Ethereum fall to a late morning intraday low $2,317.51 before making a move.

Steering clear of the first major support level at $2,301, Ethereum rallied to a late intraday high $2,472.18.

Ethereum broke through the first major resistance level at $2,433 to end the day at $2,470 levels.

At the time of writing, Ethereum was down by 0.63% to $2,448.28. A mixed start to the day saw Ethereum rise to an early morning high $2,468.76 before falling to a low $2,443.35.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to avoid the $2,418 pivot to bring the first major resistance level at $2,518 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $2,472.18.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could resistance at $2,650 before any pullback. The second major resistance level sits at $2,573.

A fall through the $2,418 pivot would bring the first major support level at $2,364 into play.

Barring an extended sell-off, however, Ethereum should continue to steer clear of sub-$2,200 levels. The second major support level at $2,263 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,364

Pivot Level: $2,418

First Major Resistance Level: $2,518

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.86% on Friday. Following a 0.74% gain on Thursday, Litecoin ended the day at $145.62.

A mixed start to the day saw Litecoin fall to a late morning intraday low $135.92 before making a move.

Litecoin fell through the first major support level at $138 before rallying to a final our intraday high $145.93.

Litecoin broke through the first major resistance level at $144 to end the day at $145 levels.

At the time of writing, Litecoin was down by 0.68% to $144.63. A mixed start to the day saw Litecoin rise to an early morning high $145.84 before falling to a low $144.50.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to avoid the $143 pivot to bring the first major resistance level at $149 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high $145.93.

Barring an extended crypto rally, the first major resistance level and resistance at $150 would likely cap any upside.

In the event of another extended breakout, Litecoin could test resistance at $155. The second major resistance level sits at $153.

A fall through the $143 pivot would bring the first major support level at $139 into play.

Barring an extended sell-off, however, Litecoin should continue to steer clear of sub-$135 levels. The second major support level sits at $133.

Looking at the Technical Indicators

First Major Support Level: $139

Pivot Level: $143

First Major Resistance Level: $149

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 0.38% on Friday. Following a 2.39% gain on Thursday, Ripple’s XRP ended the day at $0.75282.

After a mixed start to the day, Ripple’s XRP fell to a late morning intraday low $0.71252 before making a move.

Steering clear of the first major support level at $0.7102, Ripple’s XRP rallied to a late intraday high $0.76948.

Falling short of the first major resistance level at $0.7778, Ripple’s XRP eased back to end the day at sub-$0.76 levels.

At the time of writing, Ripple’s XRP was down by 0.62% to $0.74818. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.75311 to a low $0.74818.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to avoid the $0.7449 pivot to bring the first major resistance level at $0.7774 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Friday’s high $0.76948.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another breakout, Ripple’s XRP could test resistance at $0.80 before any pullback. The second major resistance level sits at $0.8019.

A fall through the $0.7449 pivot would bring the first major support level at $0.7204 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.70 levels. The second major support level sits at $0.6880.

Looking at the Technical Indicators

First Major Support Level: $0.7204

Pivot Level: $0.7449

First Major resistance Level: $0.7774

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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