The Bitcoin has a positive outlook
Ether and Ripple both have a negative outlook
Litecoin has a short-Buy/ Short-sell -Uncertain outlook
The Bitcoin (BTC) Price chart
Last week, Wednesday, the BTC managed to raise its dominance index for the first time since December 2017. The crypto market as in the recent days experienced a stagnation move with the Bitcoin maintaining a price range of $10,000 to $11,500.
From the daily chart, the BTC has maintained a downtrend since December last year with the bearish trend ending February, with the BTC creating its first bearish head & shoulder. It then formed a new bullish trend line starting with February lowest at a $600 confirming the trend on 26th February with a new support at $9200, a third support is expected at above $12,000. The stochastic indicator is also indicating a bullish trend, but with short-entry points. The weekly chart confirms the trend with a Feb 4th strong pin bar.
The BTC is expected to complete the Head and shoulder before gaining more than $12,000
The Ethereum (ETH) Price chart
Ethereum, the second largest cryptocurrency by market capitalization and dominance Index is currently on a bearish streak. It has maintained a downtrend since its Jan 13 all-time high with one resistance point forming on Jan 29th at $1220. As the trend line continues, maintaining short-buys will be suitable as any price rise will be limited to the trend-line. ETH has maintained a saturated support level at around $720.
The Ripple (XRP) Price chart
The “Forgotten Crypto” Ripple has not seen any price shifts since 1st January 2018. The XRP price has remained stagnant between $0.85 and $1.1. Any price change will definitely push the centralized cryptocurrency to its support of around $0.68 and $0.57. The Stochastic chart confirms the trend as the XRP has maintained within the oversold area with a maximum shift of 70 points since Jan 10th.
The Litecoin (LTC) Price chart
The Litecoin (LTC) has maintained short gains with any high price gains being limited by its 12th Dec 2017 all-time high of $369. Since then, it has maintained bearish trends with short gains (head & Shoulder). On fundamental analysis, the postponement of the LitePay credit card launch has played a role in its downtrend. The LTC is currently having price stagnation with minimal difference in buyers and sellers. A short up or down trend is best as the market remains uncertain.
“The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of cryptonewsbytes.com. This article is not intended to provide any investment advice and should not be taken as is. Please perform your own research before investing in any cryptocurrency.”
Author: Author : Sam
Sam, has been contributing to cryptonewsbytes team since 2017. He is also a crypto-enthusiast and talented market analyst. In his free time, you will find him traveling and exploring new places.
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