BTC, ETH and LTC Price 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.

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.

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.