Analysis of rates of major cryptocurrencies on 19 Feb 2018

Last week, the cryptocurrency market, there is a clear superiority of the buyers, but from the point of view of technical analysis many coins came out of the scope downward trends. All this creates optimism and confidence that no one is going to “bury that the bursting of the bubble”.

At the end of the week the market capitalization went up again a cherished figure of $500 billion, but output has failed to hold above. This suggests that traders are cautious trading and speculative recorded net profit made during the week. The market behavior was noticeable in charts where the correction of cryptocurrency against a week of growth was not deep within the expected levels.

Based on the current situation, is to closely monitor the news in the background as a new piece of good news is able to push the cryptocurrency market at higher price levels.

Among the leaders of the weekly growth of the most capitalized digital currency was marked by litecoin (+51,47%) and bitcoin (+31,78%). They attracted the most attention, especially litecoin which is from Tuesday to Wednesday jumped by more than 40%.

About the main reasons for the increase in LTC this week, we wrote earlier. Particularly optimistic the market reacted to the message that will soon be a payment system Litepay. However, it became known that the system will be compatible with Visa, and this will make litecoin more accessible for payment for goods. In addition, the growth of the “digital silver” affected reference Microsoft blockchain of litecoin for use in your Microsoft Authenticator app. Has also spurred the growth of an approaching fork litecoin cache (Litecoin Cash LCC).

No less important is the role of the stock market played and messages of good reviews at the G20 summit. The initiative to discuss the new market took the leaders of France and Germany, as well as well-known financiers.

Now technical analysis:

BTC/USD: a new trend, a new goal

Bitcoin (BTC) confidently entrenched in the higher trading framework that serves as a positive signal. In addition, the price chart out of the framework of the downward tendency, and it says ready to form a new wave of growth. However, open goal, to which the “digital gold” could be reached next week — a level in the neighborhood of $12 156. Trading history says that the schedule has been repeatedly tested this boundary, so the prospect of him once again to test will remain in the spotlight next week.

Wave analysis suggests that a new wave of growth. There is development of bitcoin in terms of wave 3. If the implementation of a positive scenario in wave 3, that does not exclude the breakout level of $1256, with subsequent attraction to $14 341. Negative scenario for this cryptocurrency is testing support around $9328.

ETH/USD H4: still in a downward trend

The ether (ETH) could not overcome the first time the psychological level of $1000. It is also seen that this level is bordered by a resistance downtrend, so a break below this important technical Outpost will open new prospects for the bulls.

In terms of Elliott wave, has formed a new momentum. At the moment the focus is on the impulse wave 3, which, after a pause, can overcome the resistance level of $1000 with subsequent attraction to the next resistance near $1158.

Negative scenario: another test of the support level around $900 with the possibility of breakdown and reaching the next support around $825.

LTC/USD H4: a leader in the trend

Litecoin (LTC) stopped near resistance around $236 and has formed a trading range of $236 — $203. In addition, the schedule of prices are fixed near the resistance level of a new upward trend. It is recommended to be careful, because this situation indicates a local overbought asset trading. Good signal to buy the breakout will be a reliable resistance level at $236 or at the break of Fibo level 1.618.

Technical analysis and tells about well-established pulsed motion. The breakdown of the $236 provoke traders to buy on. At least can be confident in securing a higher trading under $236 – $285, and $285 – $300.

Negative scenario: testing support $203 with subsequent breakdown.

XRP/USD H4: not in a hurry to grow

Ripple (XRP) konsolidiruyutsya around $1.1250 and after another attempt to pass this level still shows the weakness of bulls. If you implement the best-case scenario, namely a break above 1.1250, then you can expect the subsequent gravitation to $1.3890.

In terms of Elliott waves, still have a chance to continue an impulse wave 3, but this scenario will be realized only after a breakout of around $1.1250. The negative scenario — a return to the old trade framework and testing support at $0.852.

DSH/USD H4: yet a little while and exited from the trend

Dash (DSH), like other crypto-currencies, out of the framework of the downward trend. It is also seen forming a “ascending triangle”, which technically means further growth. Therefore, a new reversal from the $688 will allow you to test resistance near $795.

From the point of view of Elliott wave, has created the preconditions for the continuation of a new phase of the upward movement. So the pair of $795 will be proof in favor of buyers. The negative scenario is a return in the scope of trade $688 — $550.

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