Technical studies point to a slight strengthening of the bullish trends in the markets of altcoins.
XRP/USD
At the time of the review market Ripple listed for $0,3260. Bulls from January 20 to keep the price of the cryptocurrency above the local support level of $0,3175.
Testing temporary support during the current session had demonstrated the willingness of the bulls to buy volumes below the local lows of the price.
Currently buyers are trying to overcome resistance at the level of the price correction 78,6%-$0,3241. In that case, if the bulls manage to consolidate prices above certain level, the risks of a collapse of quotations of the pair XRP/USD will be significantly reduced.
The current price of Ripple is supported by moving average with a short period at $0,3230. The value of the relative strength index is in the purchase line RSI7 is directed upwards, which indicates a situational advantage buyers.
BCH/USD
During the European session 22 January the bulls in the Bitcoin market for Cash intensified after testing the sellers of the local level of support is $120.00. Session low, the pair BCH/USD was fixed at $115,90.
At the time of the review of the market pair traded in the $124.00 handle with the support of the moving average EMA14 with the value on the price scale $122,90.
On the four-hour chart BCH/USD with the RSI7 indicator formed a bearish divergence that gives early signal of a possible price pullback from session highs.
Given the strengthening of the position of the bulls in the short term, it is expected that support to quotations BCH will be generated is not below $121,40.
Short selling Bitcoin Cash possible from the current value prices with order $122,90 and $ 121,40.
LTC/USD
During the current trading session, the price of litecoin has updated the main price range $30,25-32,50. At the time of the review of the market the pair LTC/USD is quoted at $32,00. A pair of support EMA14 moving average with the current value of $31 to 55.
These technical indicators point to the beginning of the correction the short-term uptrend: the value of the relative strength index is high in the purchasing area, the indicator line turns down from the border of the overbought zone.
It is expected that the support price of litecoin bulls form is not below the local level of $31,00.
Trading recommendations are not a reference to action. Following the recommendations, you assume all associated risk of loss.
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