Connect with us

Litecoin News

Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 10

HitBTC exchange.” data-reactid=”19″ type=”text”>Market data is provided by the HitBTC exchange.The smart money sells when the whole market and especially the retail players are overly bullish. Similarly, these large players enter the markets when the sentiment is bearish and people are waiting to dump their positions. After the extended bear market and huge erosion in…

HitBTC exchange.” data-reactid=”19″ type=”text”>Market data is provided by the HitBTC exchange.

The smart money sells when the whole market and especially the retail players are overly bullish. Similarly, these large players enter the markets when the sentiment is bearish and people are waiting to dump their positions. After the extended bear market and huge erosion in prices, retail traders are wary of entering the crypto markets.

The total Bitcoin trading volume has been on a decline for the past few months but the institutional players seem to be accumulating at the lower levels. The trades by institutions, when compared to the total volume, have increased from 15 percent in January of this year to 19 percent in April, according to a report by Diar.

Back in July of last year, institutional trades rose to 24 percent of the total but it soon petered out with the breakdown of the $5,900 support on Bitcoin. The current rise in volume shows that institutions are confident of a recovery this time.

Facebook is seeking up to $1 billion in venture capital to develop its digital currency — rumored to be a stablecoin that will be pegged to a basket of fiat currencies — according to the New York Times. These developments show that serious money is waiting to invest in the nascent asset class at every available opportunity. Will this result in a sustained uptrend or will the rally fizzle out again? Let’s look at the charts.

BTC/USD

After a minor correction on April 9, Bitcoin (BTC) is attempting to resume its recovery. Both the moving averages are sloping up and the RSI is in the overbought zone. Deeply overbought readings on the RSI warn that the up-move is getting overextended. However, if such a reading is seen during the rally after an extended downtrend, it suggests that the bulls are unwilling to book profits after a short upswing and a trend change is in the offing.

BTC/USD

Above $5,309.31, the BTC/USD pair can rally to $5,674.84 and if this level is crossed, the next major barrier is $5,900. We anticipate a stiff resistance at $5,900, hence, traders can book profits on the remaining long positions between $5,600 and $5,900.

Contrary to our expectation, if the pair reverses direction from the current levels, it can drop to the $4,914.11–$4,800 support zone. If this zone also fails to provide support, the next stop is the 20-day EMA. We expect this level to hold. Hence, traders can keep a stop loss of $4,600 for now.

ETH/USD

Ethereum (ETH) has been sustaining above the breakout level of $167.32 for the past three days, which is a bullish sign. As it has broken out of an ascending triangle pattern, it has a target objective of $251.64.

ETH/USD

Both the moving averages are trending up and the RSI is close to the overbought zone. This suggests that the bulls are in a strong position.

Any correction from the current levels will find support at $167.32 and below it at the 20-day EMA. We expect the ETH/USD pair to bounce from one of these support levels. Hence, we have recommended a stop loss of $150 on the remaining long position. If the 20-day EMA breaks down, the slide can extend to the 50-day SMA and below it to the trendline of the ascending triangle. We will raise the stops again in a couple of days.

XRP/USD

Ripple (XRP) continues to trade in a tight range. It has been taking support close to $0.350 for the past four days. A breakdown of this level can drag the price to the support at $0.33108. The 20-day EMA is just above this level, hence, we expect the support to hold.

XRP/USD

On the other hand, if the XRP/USD pair rises from the current levels, it can move up to $0.40, above which a rally to $0.45 is probable. The 20-day EMA is sloping up and the RSI is in the positive territory, which suggests that the bulls are at a marginal advantage. We like the way the pair has held above the descending channel after breaking out of it. However, the failure to attract buyers even when the sentiment is improving across the sector is a negative sign. Currently, we remain neutral on the digital currency.

LTC/USD

Litecoin (LTC) is in a strong uptrend. The correction from close to $98 did not even reach the 20-day EMA, which shows that the bulls are aggressively buying the dips. With the current three-day correction, the RSI has alleviated its deeply overbought readings. Both the moving averages continue to slope up. All these confirm that the bulls are in the driver’s seat. On a breakout and close above $100, the digital currency can rally to $159 and above it to $180.

LTC/USD

On the downside, the LTC/USD pair can correct to the 20-day EMA. The resistance line of the ascending channel is also located at this level. Hence, we expect a strong bounce off this support. We shall try to re-enter the long positions again if we spot a favorable buy setup. However, if the pair slumps below the 20-day EMA, it will lose momentum and can fall to the 50-day SMA.

BCH/USD

Following the sharp up-move on April 2 and 3, Bitcoin Cash (BCH) has been consolidating in a range of $272.41 to $332.58. The price turned down from the top of the range on April 8 and can now decline to the bottom of the range at $272.41. If this support breaks, a fall to $239 is probable. Traders can trail the stops on the remaining long positions to $265.

BCH/USD

As both the moving averages are sloping up and the RSI has corrected from its deeply overbought level, the trend favors the bulls. If the BCH/USD pair breaks out of $332.58, it can resume the uptrend. On a breakout above $363.30, it can move up to $468.73, with a minor resistance at $400.

EOS/USD

After rising gradually for the past few days, EOS made a decisive move today. It is now on target to reach the overhead resistance of $6.8299. Both the moving averages are sloping up, which shows that the trend is up. However, as the RSI has entered into overbought territory, we suggest traders trail the remaining long positions with a close stop loss.

EOS/USD

The zone between $6 and $6.8299 is likely to act as a stiff resistance. If the EOS/USD pair turns down from this resistance zone, it might remain range bound between $4.4930 and $6.8299 for a few more days. Contrary to our assumption, if the bulls succeed in pushing the price above $6.8299, a rally to $9 is possible.

BNB/USD

We had proposed trailing the stop loss on the remaining long positions below the 20-day EMA in our previous analysis. As Binance Coin (BNB) dipped below the 20-day EMA on April 9, it triggered our suggested stop loss.

BNB/USD

The BNB/USD pair is attempting to bounce off the 20-day EMA, which is a positive sign. If successful, it will again try to break out of the overhead resistance at $22 and retest the lifetime highs.

However, the negative divergence on the RSI is a warning sign. If the price sustains below the 20-day EMA, it can slide to the 50-day SMA. The trend remains bullish. We shall wait for a new buy setup to form before recommending long positions once again.

XLM/USD

Stellar (XLM) has dipped back close to the 20-day EMA, which is likely to offer strong support. If the price rebounds from the current levels, it is likely to reach the overhead resistance at $0.14861760. This level will act as a major roadblock, but if the bulls push the price above this level, we can expect the downtrend to be over.

XLM/USD

Both the moving averages are gradually sloping up, which shows that the bulls have the upper hand. But if the XLM/USD pair fails to bounce off the 20-day EMA, it can slide to the 50-day SMA. Therefore, traders can keep a stop loss of $0.1130 on the remaining long position.

ADA/USD

Cardano (ADA) is trying to rebound from the breakout level of $0.082952. This is a positive sign as it shows that the bulls are keen to defend the first support level. If the cryptocurrency can rise above $0.094256 levels once again, the probability of a rally to $0.112598, followed by a move to $0.20 increase. The uptrending moving averages and the RSI close to the overbought level suggests that the bulls are in command.

ADA/USD

However, if the bulls fail to scale above $0.094256, the ADA/USD pair might consolidate for a few days between $0.082952 and $0.094256. It will lose momentum if the price plummets below the 20-day EMA. Therefore, traders can protect the remaining long positions with a stop of $0.080.

TRX/USD

Tron (TRX) formed an inside day candlestick pattern on April 9 and followed it up with another small range day today. This shows consolidation following the breakout of the range at $0.02815521.

TRX/USD

The 20-day EMA is sloping up and the RSI is in the overbought zone. This shows that the path of least resistance in the short term is to the upside. The TRX/USD pair should now try to move up to the first target objective of $0.040 and above it to $0.0480. The traders can keep a stop loss of $0.0240 on the long positions.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

” data-reactid=”169″ type=”text”>Our bullish view will be invalidated if the bears sink the pair below the support of $0.02815521. If the price re-enters the range, it will indicate that the current breakout was a bull trap.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

Related Articles:

  • Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 1
  • Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 8
  • Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 5
  • Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 3

Source

Up Next

New litecoin and XRP exchange-traded products set to begin trading in Europe

Don't Miss

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 19

Continue Reading
Advertisement
Loading...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Litecoin News

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 3

HitBTC exchange.” data-reactid=”28″ type=”text”>Market data is provided by the HitBTC exchange.Intercontinental Exchange Inc (ICE) has been loading up on digital assets for its cryptocurrency platform Bakkt, according to its chief executive officer Jeffrey Sprecher. This has helped ICE buy assets at a discount, which would not have happened if the markets were in a bull…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 3
HitBTC exchange.” data-reactid=”28″ type=”text”>Market data is provided by the HitBTC exchange.

Intercontinental Exchange Inc (ICE) has been loading up on digital assets for its cryptocurrency platform Bakkt, according to its chief executive officer Jeffrey Sprecher. This has helped ICE buy assets at a discount, which would not have happened if the markets were in a bull phase. Sprecher expects Bakkt to start operations later in 2019.

Attention has been shifting to institutional investors since the bear phase started. Stronger hands with deeper pockets are needed to provide stability in crypto markets. In a survey of 411 United States institutional investors, Fidelity Investments found that 47% of the participants believe that digital assets have a place in their investment portfolios.

The major attraction is the low correlation with other asset classes. Converesly, unclear regulation, lack of fundamentals, volatility, etc, were some of the hurdles in investing in digital assets.

Along with institutional involvement, mass adoption of cryptocurrencies is another important activity that can boost prices. In this regard, the markets are watching the development of Facebook’s rumored “FB Coin.” Sources have said the Wall Street Journal that Facebook is looking to raise $1 billion in investments for its cryptocurrency stablecoin. With Facebook’s mass reach, it can bring cryptocurrencies to the mainstream at a faster pace.

The recent recovery in Bitcoin has gathered pace and has pushed its market capitalization above $100 billion. Altcoins have also benefited from the bullish sentiment. After the rally, is it a good time to buy or to book profits? Let’s find out.

BTC/USD

Bitcoin (BTC) has surged towards its overhead resistance of $5,900. We like the pickup in momentum. This suggests confidence among the bulls that the leading digital currency will extend its recovery. If the price scales above $5,900, it will be a major sentiment booster. There is a minor psychological resistance at $6,000 but we expect it to be crossed. The next level to watch is $6,480.54. We expect the zone between $6,000–$6,480.54 to offer a stiff resistance. Hence, the traders can tighten their stops to protect their paper profits.

View photos

BTC/USD

Contrary to our bullish view, if the BTC/USD pair fails to sustain above $5,900, it can witness profit booking that can drag it to the 20-day EMA. The pair might also enter into a consolidation between $4,914.11 and $5,900 for a few days. The trend will turn negative on a breakdown of $4,914.11. Until then, the bulls will continue to buy the dips. Traders can trail the stops on the remaining long positions to $5,400.

Currently, both the moving averages are sloping up and the RSI is also trying to break out of the negative divergence. This is a bullish sign. It shows that the path of least resistance is to the upside.

ETH/USD

Ethereum (ETH) has broken out of the downtrend line. It is currently facing resistance at the $180–$190.54 zone. If the bulls scale this zone, the digital currency can rally to $225 and above it to $256. Traders can buy above $192 and keep an initial stop loss of $146. As the risk to reward ratio is not very attractive, the position size can be about 40% of usual. We will suggest to trail the stops higher at the first available opportunity.

View photos

ETH/USD

Our bullish view will be invalidated if the ETH/USD pair fails to ascend the overhead resistance zone and breaks below $148. Currently, the 20-day EMA is starting to turn up and the RSI has risen into positive territory. This suggests that the bulls have a minor advantage in the short term. The next couple of days are critical as it will set the stage for the next leg of the sustained move.

XRP/USD

While most major cryptocurrencies are on fire, Ripple (XRP) continues to lag behind. It is still trading below the 20-day EMA and close to the lower end of the range. This suggests a lack of interest among the bulls.

View photos

XRP/USD

The XRP/USD pair needs to break out of the moving averages and $0.33108 to signal some buying. If the follow up buying pushes the price above $0.37835, we expect the pair to pick up momentum.

On the other hand, if the digital currency fails to move up, the bears will again try to break down of the critical support at $0.27795. We will wait for the breakout above $0.33108 to sustain before suggesting a long position.

BCH/USD

Bitcoin Cash (BCH) has broken out of the downtrend line, which is a positive sign. The 20-day EMA is gradually turning up and the RSI has risen into positive territory. This shows that the bulls have the upper hand.

View photos

BCH/USD

The BCH/USD pair can now move up to $335.62 and above it to $363.30. We expect this level to act as a stiff resistance. If the price turns down from one of these resistance levels, the pair will trade in a range for a few days.

Our bullish view will be invalidated if the digital currency fails to sustain above the downtrend line and slips back to $255. The trend will turn negative on a breakdown of $225.

LTC/USD

Litecoin (LTC) has broken out of the 20-day EMA, which is a positive sign. It can now rally to $84.3439 and above it to $91. The digital currency has formed a cup and handle formation that will complete on a breakout and close (UTC time frame) above $91. This pattern has a target objective of $158.91. Traders can wait for the price to close above $91 to attempt this trade. The stop loss for this trade can be kept at $66 initially, which can be raised later.

View photos

LTC/USD

But if the LTC/USD pair fails to climb the overhead resistances, it might remain range bound for a few days. The 20-day EMA is flat and the RSI is just above the midpoint. This suggests range-bound trading action in the short term. The trend will turn bearish on a breakdown and close below the recent lows of $66.470. It is always better to wait for the pattern to complete to go long, instead of buying in anticipation.

EOS/USD

EOS has broken out of the downtrend line and the 20-day EMA. This suggests that the recent pullback is over and it will now march toward $6.0726 and above it $6.8299. The 20-day EMA is gradually turning up and the RSI has jumped into positive territory. This shows that the bulls have the advantage in the short term.

View photos

EOS/USD

Nonetheless, if the bulls fail to sustain the current levels, it will indicate profit booking that can drag the EOS/USD pair back to the 20-day EMA. A breakdown of the uptrend line will complete a rising wedge pattern and shift the advantage to the bears. Until then, any dip towards the 20-day EMA can be used as a buying opportunity.

BNB/USD

Binance Coin (BNB) rose above the previous intraday lifetime high of $26.4732350 and made a new high at $26.6428765. However, the bulls could not sustain the new high and the price has retreated back below it.

View photos

BNB/USD

This shows profit booking at higher levels, but if the bears fail to sink the BNB/USD pair below the 20-day EMA, we anticipate another attempt by the bulls to make a new high. Both the moving averages are trending up and the RSI is in positive territory. This suggests that the bulls are in command.

However, if the price plunges below the 20-day EMA, it can drop to the 50-day SMA. A breakdown of this support will signal a deeper correction. We remain bullish and on the lookout for a reliable pattern that offers an attractive risk to reward ratio.

XLM/USD

Stellar (XLM) again broke below the uptrend line but found buyers at lower levels. While the repeated breach of a support line weakens it, the bears have not been able to sustain the price below the uptrend line. A breakdown of $0.09478125 can sink the digital currency to $0.08.

View photos

XLM/USD

But, if the XLM/USD pair breaks out of the moving averages, it can rise to $0.12039489 and above it to $0.13250273. Currently, both the moving averages are flat and the RSI is just below 50. This points to a possible consolidation in the short term. We do not find any reliable buy setup, hence, we are not suggesting a long position in it.

ADA/USD

Cardano (ADA) is trying to break out of the 20-day EMA and the downtrend line. If successful, it can move up to $0.082952 and above it to $0.094256. However, the flat 20-day EMA and the RSI close to the midpoint suggest that range-bound trading is probable.

View photos

ADA/USD

If the ADA/USD pair turns down from the current levels or from one of the overhead resistances, it can remain range bound for a few days. It will turn negative on a breakdown of $0.063230.

The pair will complete a cup and handle formation if it closes (UTC time frame) above $0.094256. We will wait for the price to ascend $0.094256 before suggesting any long positions in it.

TRX/USD

Tron (TRX) has been attempting to break out of the moving averages. If the price sustains above it, it will move up to the next overhead resistance of $0.02815521. The bulls have broken out of this level previously, but have not been able to sustain the breakout.

View photos

TRX/USD

If the TRX/USD pair breaks out of the overhead resistance once again, it will offer an opportunity to go long. The pair has been consolidating for the past nine months, which indicates that the ensuing breakout will show a big move. Therefore, we retain the buy recommendation given in the previous analysis.

Contrary to our assumption, if the cryptocurrency turns down from the current levels, it can correct to $0.02094452. A break of this level will sink it to the critical support of $0.01830.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.” data-reactid=”274″ type=”text”>Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

Related Articles:

  • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 1
  • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 29
  • Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 26
  • Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 24

Source

Continue Reading

Litecoin News

Dominant Bitcoin Slips on Monday, Drags Cryptocurrency Index Down $8.7 Billion

By CCN.com: Dominant crypto asset bitcoin sent fresh shivers through the rest of the cryptocurrency market with its latest plunge.The bitcoin-to-dollar exchange rate dropped as much as 2.66-percent on Monday to establish an intraday low towards $5,569.71. The move brought bitcoin’s total downside correction from its weekly high to 4.58-percent, wiping more than $3.5 billion…

Dominant Bitcoin Slips on Monday, Drags Cryptocurrency Index Down $8.7 Billion

By CCN.com: Dominant crypto asset bitcoin sent fresh shivers through the rest of the cryptocurrency market with its latest plunge.

The bitcoin-to-dollar exchange rate dropped as much as 2.66-percent on Monday to establish an intraday low towards $5,569.71. The move brought bitcoin’s total downside correction from its weekly high to 4.58-percent, wiping more than $3.5 billion on the way.

BITCOIN, BTC USD

BITCOIN PRICE WIPED OVER $3.5 BILLION OFF ITS SLATE THIS WEEK | SOURCE: COINMARKETCAP.COM

Other assets listed in the cryptocurrency index followed bitcoin’s sentiment. Ethereum, the second-largest crypto by market capitalization, lost a little over a billion dollar as its dollar-rate dropped 6.76 percent. Bitcoin Cash, bitcoin’s forked version and the fourth-largest crypto, too plunged by more than 11-percent. EOS, Litecoin, XRP, Binance Coin and the rest of the top assets also trended in negative territories, as shown in the CoinMarketCap listing below.

BITCOIN, LITECOIN, ETHEREUM, BITCOIN CASH, EOS, XRP, CARDANO

CRYPTOCURRENCY MARKET CAP PERFORMANCE IN PAST 24 HOURS | SOURCE: COINMARKETCAP.COM

Combined, bitcoin and the rest of the cryptocurrency market, which includes more than 2,100 assets, lost up to $8.7 billion from their weekly high.

Imminent Market Sentiment

View photos

BITCOIN, BTC USD

BITCOIN PULLBACK COMING | SOURCE: COINBASE, TRADINGVIEW.COM

Read the full story on CCN.com.

Source

Continue Reading

Crypto Live Prices

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
Advertisement
Loading...
Advertisement
Advertisement

Trending