Leading altcoins are trading mixed with minimal price volatility. The decline in trading activity is explained by investors ‘ expectations of price “explosions” during a hard fork in the network of Ethereum.
XRP/USD
At the time of the review of the market the pair XRP/USD is trading at $0,3360 above the local support level of $0,3330. In Asian trading Ripple has not received the support of the market and the price of scriptactive predictable slid down from the high of the last session $0,03478.
The nature of trading in the current session indicates the decrease in trading activity of the parties, with a clear advantage in the market sellers.
At the moment for a couple of XRP/USD is putting pressure EMA14 moving average value on the scale of the four-hour schedule – $0,3362.
Values of relative strength index are in sales, but the line RSI7 is supported by the moving average EMA14 and turns up to the intersection with the neutral line, which indicates the probability of short-term growth of quotations XRP/USD.
It is expected that without the influence of fundamental factors on the market, Ripple 15-16 January, will continue to trade the horizontal direction within the boundaries of the price range of $0,3440-0,3240.
BCH/USD
In the course of trading last session bears on the Bitcoin market Cash confirmed their readiness to defend their positions above the level of the price correction of 61.8%-$of 133.90. At the time of the review of the market the pair BCH/USD is quoted at $128,70.
The sellers have overcome support prices at the dynamic level, generated by a line moving average EMA14 with the current value of $129,92. Given the obvious advantage for sellers even with a sharp decrease in trading activity of the parties, the pair BCH/USD to the next support level of $121,90 looks inevitable.
Signal to short sell bitcoins in Cash is confirmed by the data of relative strength index: the indicator values are in sales, line RSI7 crosses the EMA14 line and is pointing down.
Short sale paired BCH/USD from the current price value $128,70 with order $126,60 $122,00.
LTC/USD
The price of litecoin at the current session, found support only on the dynamic level of $32,40 formed on the moving average line EMA14.
For the past four hours, the customers, slightly increased the purchasing volume for LTC/USD that will probably allow to the end of the day not only to keep the price above the level of correction 50,0%, but also to test the resistance of the sales at the level of the local maximum price of $33,70.
The short-term rising signal is confirmed by the data of relative strength index: the indicator values are held in the purchase line RSI7 supported line EMA14 and unfolds upward from the neutral level.
Graphical analysis shows the formation of a reversal pattern “Inverted head and shoulders”. According to the theory, after it breaks the neckline at the current level of $33,80 price can achieve the goals on the outskirts of the correctional level of 23.6%-$37,65.
DASH/USD
C 10 Jan Dash is trading under bearish pressure in the price corridor of $74,23-67,90. The upper boundary of the range formed by the level of the price correction of 61.8%. The level of the price correction 78,6% has a value on the price scale – $66,28 and until recently the price of cryptocurrency is not touching the boundary mark.
These technical indicators indicate a high probability of reduction of quotations of the pair DASH/USD from its value at the moment – $70,08. The current price is below the moving average with a short period – EMA14. The value of the index relative strength in sales and the indicator line is under pressure of moving average EMA14.
It is expected that the support price of scriptactive bulls will form at the retracement level of 78.6%-$66,28. Sale Dash possible at the price breakout of the dynamic resistance level with targets of $to 68.14 $66,30.
Trading recommendations are not a reference to action. Following the recommendations, you assume all associated risk of loss.
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