Over the last week, Bitcoin has been trading between $7,000 and $8,000, following a parabolic move since the beginning of April.
To the upside, if Bitcoin is able to break above $8,350, the next level of resistance it will have to fight is around $9,600.
After breaking above the ascending triangle formation seen in the 3-day chart, Ethereum passed the 49.5 percent target given by the pattern by 26 percent, reaching a yearly high of $282. Now, ETH seems to be consolidating before its next move.
If Ethereum is able to trade above $282 it could reach new yearly highs.
If a 3-day candlestick trades above this zone, then XRP could go up to test the $0.45 resistance level.
A bullish impulse could be seen if XRP is able to break above the channel, but it could go through a bearish movement if it breaks below it.
Bitcoin Cash can be seen trading inside an ascending parallel channel since the middle of March.
On the 1-day chart, Bitcoin Cash has been trading between $420 and $360. Breaking above this range could take BCH as high as $630, but breaking below it could take this cryptocurrency down to $260. In the meantime, it will be wiser to wait for a break of this range before entering a trade.
Since the beginning of May, Bitcoin Cash sits above the 50 moving average on the 4-hour chart.
On the other hand, a break below the channel could take Litecoin down to around $60 to $54. On the 1-day chart, Litecoin has been trading above the 50-day moving average.
Top 5 forecast: Bitcoin, Ethereum, XRP, Bitcoin Cash, and Litecoin technical analysis
gepubliceerd op May 24, 2019
by Cryptoslate | gepubliceerd op Coinage
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