Analysis Editor's Picks

XRP, BCH, LTC: technical analysis and course forecast for February 8-9, 2019

In the markets of alternative cryptocurrencies during the current session, there was a strong increase in prices.

XRP / USD

At the time of the market review, Ripple is trading at $ 0.3198 with a daily price increase of 8.50%. The session maximum of altcoin price is fixed at $ 0.3259.

On the four-hour chart, the EMA60 moving average with the current value of $ 0.3050 provides support for the XRP / USD pair. At around $ 0.3113, the XRP / USD pair has overcome the resistance level of the reversal of the short-term trend.

February 8 XRPUSD H4
February 8 XRPUSD H4

An analysis of the four-hour chart of the pair shows that to achieve the goals at the first key support level, bulls need to overcome sales resistance in the range of $ 0.3180-0.3280.

The relative strength index data confirms the situational advantage of buyers in the Stellar short-term market: the indicator value is high in the area of purchases, the RSI line is directed upward to the border with the overbought area.

BCH / USD

At the time of the analysis of the market, Bitcoin Cash is trading at $ 128.12 against the opening price of the current session of $ 114.10. Daily growth of a pair of BCH / USD is + 12.30%.

On a strong upward momentum, the bulls overcame key resistance levels of $ 120.60 and $ 124.40 without difficulty. Given the nature of the price movement, we should expect that in the coming hours, buyers will test resistance at a key level of $ 130.60.

February 8, BCHUSD H4
February 8, BCHUSD H4

A bitcoin cash price correction is very likely from the indicated level, with quotations dropping to at least $ 124.40 at the second key support level.

Bitcoin Cash purchases paired with the US dollar are recommended from the support level of $ 124.40 with targets of $ 128.00 and $ 130.50.

LTC / USD

At the time of the market review, lightcoin is trading at $ 43.06, with quotes rising by + 28.00%, above the second key resistance level of $ 42.37. It is expected that the strong resistance of the LTC / USD pair will meet at the key level of $ 47.20.

The value of the relative strength index is in the oversold area, the indicator line is directed upwards, which indicates the advantage of the bulls in the short-term trading period.

February 8 LTCUSD 1D
February 8 LTCUSD 1D

LTC / USD sales are recommended at a price rebound from the key resistance level of $ 47.20 with targets of $ 45.00 and $ 43.00.

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

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