The data from the technical analysis of cryptographic markets indicate the likelihood of the restoration of prices for the largest altcoins during the trading of the current week.
XRP / USD
Over the past 24 hours, Ripple lost in price more than 14%. At the time of the market review, XRP / USD is quoted at $ 0.3083. The pair found support at the strong February level of $ 0.3040, with a considerable margin relative to the key support level of $ 0.2982.
Analysis of the four-hour cryptoactive graph shows that the price of the coin has stabilized in the range of $ 0.3100-0.3056.
From the moment of opening the current session in the short-term market, bulls have a slight advantage: the values of the relative strength index in sales, but the RSI14 line is directed upwards from the border with the oversold area and crosses the level 40 on the indicator chart.
There is a high probability of breakdown of sales resistance at a local resistance level of $ 0.3100 with a rising price of Ripple to pivot level of $ 0.3195. The breakdown of resistance at the designated level will allow bulls to dramatically reduce the risks of reducing the price of cryptocurrency to its February lows.
BCH / USD
The major sales of Bitcoin Cash on February 24 led to a decrease in the price of cryptocurrency to $ 125.55. The nature of the subsequent price movement of the coin indicates the willingness of the bulls to buy back large volumes of sellers below $ 128.00.
At the time of analyzing the market situation, the BCH / USD pair found support above the dynamic level formed along the EMA200 moving average line with the current value on the four-hour price chart of $ 131.10. The pair is trading at $ 132.20 against a session high at $ 134.10.
Bulls on the Bitcoin Cash market are showing a willingness to test sales resistance at the pivot level with a value of $ 135.40. It is expected that in the event of a breakdown of resistance at the designated level, the new session maximum price of BCH / USD will fix at the mirror support-resistance level of $ 139.00.
The situational advantage of buyers in the short-term market of Bitcoin Cash is confirmed by the data of the relative strength index and the upward nature of the cryptoactive price movement.
LTC / USD
At the time of the market analysis, lightcoin is trading at $ 45.48, with quotes rising from the February 24 minimum price – $ 43.30.
From the moment of the opening of the current trading on the LTC / USD pair, the bulls attempt to break through sales resistance at the recent resistance level of $ 46.00. Resistance level enhances the moving average EMA100 with the current value of $ 45.70.
It is to be expected that in the event of the purchase of lightcoin by buyers for the sale of coins in a narrow range of $ 45.70-46.00, the price for an upward impulse can test the density of the volume of sales at the pivot level of $ 47.70.
Short-term purchases of lightcoin on breakout strategies of $ 46.00 with targets of $ 47.70 and $ 49.00 are recommended. Protect long positions should be orders no higher than the session minimum price of $ 44.50.
Trading recommendations are not a guide to action. Following the recommendations, you assume the associated risk of loss of funds.