Trend Analysis: BTC ETH XRP BCH LTC

12 thg 8, 2018

BTC/USD
Overview:
Bitcoin is in downtrend.

Current situation:
Yesterday's drop in the price of Bitcoin to $6000 was bought out in the evening. The BTC / USD quotation is trading near the $6300 mark. This event did not affect our opinion on the further decrease in Bitcoin's price to levels: $5,800, $5,400. Before the decline, we allow Bitcoin to rise in price within the correction to levels of $6,750 and $6,850. Cancellation of the scenario - growth above 7000.

Key levels are used by traders to identify immediate targets, limit losses, fix profit, entry points.

Resistance levels: $6300; $6,750, $6,850, 7,000, $7,160; $7500.
Support levels: $6000; $5,800; $5450.

Forecast:
Continuation of the price reduction of BTC/USD from the $6300 - $6000 zone. The purpose of reducing the Bitcoin asset is near $5400.

ETH/USD
Overview:
The global trend remains descending.

Current situation:
The price of Ethereum approached the previously broken support at $330. Sales remain a priority. The cancelation of the decline is a price increase above $400.

Resistance levels: $330; $350; $380; $400.
Support levels: $300; $280

Forecast:
Continuation of the reduction in the price of the Ethereum from the level of $330 and up to the $300- $280 zone.

XRP/USD
Overview:
Downtrend.

Current situation:
The asset of XRP / USD was corrected up to the level of $0.31. We forecast further price reduction to the $0.28- $0.27 zone.

Resistance levels: $0,32; $0,36; $0,38; $0,40; $0,44; $0,47; $0,52; $0,54.
Support levels: $0.28; $0.27.

Forecast:
Continuation of price reduction to the zone $0,28- $0,27.

BCH/USD
Overview:
Trend is bearish.

Current situation:
Bitcoin Cash quotation is traded in the short zone $580- $600. The rise in Bitcoin Cash's price to the $630- $650 zone will not change the short-term scenario. We still expect the target at around $500.

Resistance levels: $585; $600; $620; $650; $680.
Support levels: $550; $500.

Forecast:
Continuation of the price reduction of Bitcoin Cash from the $580- $600 zone and the target near the $500 mark.

LTC/USD
Overview:
Trend is bearish.

Current situation:
Yesterday, Bitcoin Cash quotation rebounded from the level of $55 and reached the level of $61. We characterize this price movement LTC / USD as a correction before further price decrease. We still expect to see LTC/USD quotation at $50.

Resistance levels: $60; $65; $67; $72.
Support levels: $55; $50.

Forecast:
Continuation of the price reduction of Litecoin to the level of $50.