Given the strong growth markets in altcoins over the past five days, we should expect a significant correction in prices of cryptocurrencies in the last days of the current week.
XRP/USD
At the time of the review market Ripple trading at $0,3826. During the two trading sessions parties at the auction on the pair XRP/USD has defined the boundaries of the price range in which konsolidiruyutsya the volume of purchase and sale.
The upper boundary of the range has a value of $0,4050 and passes the level of the price adjustment the 23.6% Fibo, the lower boundary of the range passes through the correction level rates of 14.8% with the value on the price scale – $0,3600.
It should be noted that the price support at $0,3600 enhances moving average EMA30, and the resistance of the upper boundary of the range – moving average EMA100.
Given the relatively strong short-term bearish trend on global stock market data technical indicators, which point to a situational advantage buyers Ripple, assume that on December 20-21, the bulls will perform a retest of the resistance level of $0,4050 with a high probability of breaking up.
With this development the market situation in the bidding for Ripple is to be expected that the price of scriptactive will reach prices in the range of $0,4440-0,4580.
BCH/USD
At auction 20 Dec pair BCH/USD showed an anomalous increase of 70.6% against the opening price of the day $216. Sessional maximum price of Bitcoin Cash is fixed at $215.
At the time of analysis of the market of cryptocurrency is trading at $184. The price movement indicates that a short-term correction of the daily upward movement ends. While support for the pair found at $175.
There is a possibility that the end of the current session, the bulls will attempt to update the local maximum price BCH.
Thus, the auction of 21 December, buyers will have the technical ability to test the resistance of sales in range of $233-260, where bears consolidate large volumes for sale.
In making decisions on market entry Bitcoin Cash should be considered significant difference values of RSI7 and EMA14, against the background of a summary indicates the likelihood of a sharp decline in prices BCH.
LTC/USD
At the time of the review of the market of litecoin is trading at $of 33.24. Pair LTC/USD corrected after a false breakout of the resistance level sales price correction of 23.6% with the value on the price scale of the daily chart – $the accounting period by 33.55.
Early signal a deeper price cut scriptactive gives bearish divergence on the daily chart with the indicator RSI7.
It is assumed that the near-term support price of litecoin bulls form is not below $32,00.
From the graph LTC/USD it is obvious that to reduce the risk of a collapse of prices, bulls need to overcome resistance at $the accounting period by 33.55 and to gain a foothold above the line of 23.6%.
Trading recommendations are not a reference to action. Following the recommendations, you assume all associated risk of loss.
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