Friday, 6 September 2019

BTC, ETH and LTC Price Analysis

Cryptocurrency Analysis

Bitcoin Price Outlook

Bitcoin breaks above the moving averages which is positive. A golden cross between 20-day EMA and 50-day EMA is about to happen. Moreover, the pair has formed a huge symmetrical triangle. Traders should wait for a break out above the downtrend line to initiate fresh long positions. The price target of the breakout is around $13,000. The RSI is in favor of the bulls.

In the downside, $9080 is proved to be good support. The bulls will defend this level aggressively. If it breaks down, it may indicate a change in the trend.

bitcoin analysis chart

Ethereum Price Outlook

Unlike Bitcoin, Ethereum looks less bullish. It's still trading below the moving averages. The 20-day EMA is a real hurdle for the pair to advance. Most importantly, ETH/USD breaks down the uptrend line, which is negative. Traders should carry the price above the 20-day EMA to start the recovery. Above this level, 50-day EMA will be the next hurdle. For now, we can't see any reliable buy set up.

For supports, $163 will be the first one, thereafter $147.

ethereum price analysis

Litecoin Price Outlook

Litecoin is in the hands of the bears. The price has corrected below the 0.618 Fibonacci retracements of the entire rally from the low of $22 to the high of $146. Other resistance can be seen from the downtrend line and moving averages. A successful break out of the downtrend will resume a strong uptrend.

On the downside, if bulls can't clear the resistance, a revisit to the recent low at $62.20 is more likely to happen.

ltc price analysis

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