Analysis Editor's Picks

XRP, BCH, LTC, Dash: technical analysis and forecast rate of 7-8 November 2018

After the next phase of growth altcoins, the vast majority of cryptocurrency markets November 7 demonstrated moderate volatility amid falling trading activity of speculators.

XRP/USD

The price of Ripple is adjusted after a strong two-day growth. Resistance to the local growth of the pair XRP/USD bears formed on the first key level of $0,5662.

At the time of the review market Ripple listed for $0,5376. It is expected that temporary support bitcoin buyers will have in the range of $9,5250-0,4987.

7 ноября XRPUSD H4
7 Nov XRPUSD H4

RSI14 indicator data confirm the correction of the prices of XRP. the indicator line is pointing down from the border of the overbought zone.

Sale Ripple are recommended from $0,5420 with order $0,5160 and $0,4730.

BCH/USD

Quotes Bitcoin in Cash over a five-day rally overcame the resistance of the bears on three key levels. A local maximum of the price of the cryptocurrency is fixed at $646,8.

At the time of market analysis steam BCH/USD adjusted $623б00. Do the bulls have confirmed the ability to support bitcoin at the key level of $608,60.

7 ноября BCHUSD H4
7 Nov BCHUSD H4

From the technical point of view there is opportunity for growth Bitcoin Cash prices to the level of 680. It is assumed that the moving average EMA200 sellers will form a strong enough resistance.

Another option is the development of the course BCH will be probable, in that case, if the bears are “selling” the price support at $608,60. Wave of fixing short-term long positions could lead to a reduction in the price of the pair at least to the level $of 570.00.

LTC/USD

Lidoine at the auction on November 7, the bulls have almost completely lost the initiative. In the second half of the current session, the bears were testing the price support at the key level of $53,60.

At the time of analysis of the market the pair LTC/USD is quoted at $54,30. Short shadow candle on the daily chart indicates a weak price support from buyers.

7 ноября LTCUSD H4
7 Nov LTCUSD H4

Data of the relative strength index also indicates the exhaustion of the bulls and probably before the end of the week, the litecoin will continue to trade in a horizontal range.

DASH/USD

The bulls on the market Dash was faced with strong resistance price growth of the cryptocurrency at $170,40.

It should be noted that the level is characterized as a mirror, and to form he started with 11 August. Currently, the resistance level sales $170,40 further enhances the moving average EMA60.

7 ноября DASHUSD H4
7 Nov DASHUSD H4

The indicator line RSI14 is directed downwards from the border with the overbought region, but the indicator values are charged in the buy zone. Probably in the next 24 hours the bulls will make another attempt to break through the bearish resistance.

Trading recommendations are not a reference to action. Following the recommendations, you assume all associated risk of loss.

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