The local growth of the bitcoin market and positive news on the markets of alternative cryptocurrencies created the conditions for the minor advantage of bullish investor sentiment.
XRP/USD
Ripple November 1, overcame the resistance of the sales dynamic $0,4570.
The bulls received the support of the market and this session attempted to gain a foothold above the level of reversal of the current trend. The pivot corresponds to a mark price of $0,4646.
However, the bears have demonstrated a willingness to defend their positions on key level. Buyers ‘ attempts to occupy a strategic price level to date, was crowned only two false breakouts.
There is a possibility that before the end of the session the sellers to increase sales. In turn, the wave of short-term profit fixation on long positions will lead to a rollback of quotations from the level of $0,4646.
In a pair XRP/USD are recommended for the bounce of the price from $0,4646. Target for short positions is $0,4580 and $0,4500.
BCH/USD
During the trading session on 2 November, on the news about Binance support for the upcoming hard fork Bitcoin Cash, a pair of BCH/USD within a few hours rose to $476, against the opening price of the day – $427.
Speculative growth of cryptocurrencies has been suspended only on the third key resistance level of $472. At the time of the review of the market the pair BCH/USD is quoted at $471.
There is a high probability that the retracement Bitcoin Cash even before the end of the current session reaches the price level of $463.
Recommended short selling Bitcoin Cash on the current price level of $471. Target for short positions is $467 and $463.
LTC/USD
The bulls on the market of litecoin managed 31 October-1 November to settle above the key support level of $50.00 and to consolidate sufficient volumes for development of the local uptrend.
At the time of the review of the market the pair LTC/USD is quoted at $51,80 above the key support level of $51,60. Daily high price of litecoin is fixed at $52,23.
In case of deepening of correction, the bulls will support bitcoin on a dynamic level EMA60 line with the current value of $51,40.
RSI14 indicator data indicate overbought scriptactive and reversal indicator lines are down, break out of the boundaries of the oversold zone confirms the assumption of a deeper correction Litecoin.
In the pair LTC/USD is recommended purchase price breakout from $51,40. Target for long positions is $51,70 $52,00.
DASH/USD
C 19 Oct Dash is trading in a horizontal direction. The horizontal channel limits the levels of prices of $150.00 and $155.00.
On the background of General market decline October 29, couple quotes and DASH/USD recorded a new fall low at $147,60. In just a few hours the bulls regained the price of the cryptocurrency within the boundaries of an established price range.
Currently DASH/USD is quoted at $153,90. The price of the asset increases on the background of the attempts of the bulls to overcome at the current price level of resistance bears.
In the case of a breakthrough of the resistance level buyers are open to short-term growth of the cryptocurrency to $158,00.
Trading recommendations are not a reference to action. Following the recommendations, you assume all associated risk of loss.
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