At the beginning of the new trading week, the Altcoins demonstrate multidirectional dynamics. Tron and Litecoin retain strong potential for the development of an uptrend.
XRP / USD
The new week the pair XRP / USD opened with quotations of $ 0.3057, below the reversal level of the short-term trend of $ 0.3114. At the time of the market review in the second half of the session on February 4, the situation in the Ripple market did not change, the pair is trading at $ 0.3038 against the background of increasing selling pressure.
A short-term surge in cryptocurrency prices recorded a session high at $ 0.3094 and confirmed the bears are ready to sell the asset in large volumes from the dynamic level with the current value of $ 0.3088.
An analysis of the four-hour chart shows that buyers had formed temporary support for the Ripple price in a narrow range of $ 0.3030-0.3010. A probable breakdown of support will open the way for a confident price reduction to at least $ 0.2980.
BCH / USD
Since February 1, Bitcoin Cash is trading with an obvious advantage of cryptocurrency buyers. Support for a pair of BCH / USD is formed on a dynamic level with the current value of $ 116.46.
At the time of the market review, Bitcoin Cash is trading at $ 117.10 above the reversal level of the short-term trend of $ 114.40. The pair is supported by the moving average EMA30.
The values of the relative strength index are above the neutral level, the RSI line is directed downwards, which indicates the activation of sellers and the probability of an attempt to break through the local support level of $ 116,460. In the case of a bearish scenario, we should expect the sellers to reach the short-term goal at the pivot level of $ 114.40.
LTC / USD
Over the past seven days, lightcoin has shown the greatest growth in the top 20 cryptocurrencies. At the time of the review, the LTC / USD pair is trading at $ 34.30 with an increase in quotations.
The current quotes of the pair are above the short moving average EMA14, which in turn indicates the price growth potential remaining after its correction from the local maximum at $ 3.56.
The value of the relative strength index is in the territory of the bulls, the indicator line is directed upwards at the border of the area of active purchases. Summary data of technical indicators indicate a high probability of a retest of the key resistance level of $ 35.30 in the next 24 hours.
Litecoin short-term sales are recommended to rebound from a key level of $ 35.30 with targets of $ 34.50 and $ 33.80.
TRX / USD
At the opening of the European trading period on February 4, the TRX / USD pair fixed the session maximum price at $ 0.0297.
Despite the pair от s rollback from the local maximum, the bulls maintain strong positions, keeping the cryptocurrency price above the reversal level of the medium-term upward simulator with a mark on the daily chart scale of $ 0.0268.
The values of the relative strength index are kept in the purchase area, the RSI14 line is turned up from the neutral level on the indicator chart, which confirms the advantage of buyers in the Tron market.
Tron purchases are recommended at the end of the correction of the short-term upward price movement from the level of $ 0.0270 with targets of $ 0.0280 and $ 0.0290.
Trading recommendations are not a guide to action. Following the recommendations, you assume the associated risk of loss of funds.
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