At the auction on February 20, lightcoin overcomes resistance at the autumn level of opposition of the parties and sets the growth rate for the largest cryptocurrencies.
XRP / USD
Since February 18, Ripple has been trading in the price range of $ 0.3280-0.3500. During the morning trading on February 20, the bulls confirmed the price support at the lower end of the range.
Analysis of the four-hour chart of the XRP / USD pair shows that for the development of an uptrend, bulls need to gain a foothold above the upper limit of the range – $ 0.3500, which in turn will provide an inflow of new cryptocurrency buyers to the market.
From January 10, for Ripple, the price level of $ 0.3500 remains insurmountable and forms a psychological barrier for potential investors in the cryptoactive market.
The data of technical indicators indicate that the bulls are enough to keep prices in the horizontal channel. The current price is supported by the short moving average line EMA14 with a value of $ 0.3310. The values of the relative strength index are already outside the oversold area and remain in the area of purchases, the RSI14 line is directed upwards.
Ripple purchases are recommended from the lower level of the price range of $ 0.3280-0.3500 with targets for longs at $ 0.3395 and $ 0.3490.
BCH / USD
At the time of the market review, Bitcoin Cash is trading at $ 143.10, with growth of quotes from the session low at $ 137.70.
Since February 18, when the BCH / USD pair has overcome strong resistance at $ 130.00, the parties at the cryptocurrency auction have identified new boundary levels for the short-term coin rate: the bulls are ready to defend their positions from $ 140.00, the bears will consolidate large volumes on sales of Bitcoin Cash at $ 148.00.
The data of technical indicators indicate a significant advantage for buyers: the price of a cryptoactive asset remains above the moving average EMA14 with a current value of $ 140.70, the RSI14 line is directed upwards to the border with the overbought area, giving a signal for consolidating long positions.
LTC / USD
The main resistance at the mirror level of $ 48.00 was tested by lightcoin for the first time on February 18, and over the next 24 hours the price of the coin fixed in the new range.
At the opening of the Asian session on February 20, the LTC / USD pair received a strong growth momentum and fixed a new maximum at $ 53.80. Given the nature of the cryptoactive price movement, it should be expected that the temporary support for the pair of bulls will form at the autumn level of $ 51.50, where from August to November 2019 the pressure of bears was restrained.
An early signal of continued growth in the price of lightcoin gives a formed hidden bullish divergence on the four-hour cryptocurrency chart with the RSI7 indicator.
Analysis of the four-hour chart shows that the new target of buyers is at the level of $ 57.00. The current price of the coin is supported by a thirty-day exponential moving average. The value of the relative strength index is in the moderate overbought area and the RSI7 line is directed upwards, which indicates full control of the Litecoin price from the bulls.
TRX / USD
At the time of the market review, the throne is trading at $ 0.0254 at the mirror support-resistance level. Level support is enhanced by a thirty-day moving average with a current value of $ 0.0252.
At the Tron auction, the bulls confirmed their ability to hold a coin in the range of $ 0.0237-0.0281. The value of the relative strength index is maintained primarily in the area of purchases and is supported by the EMA14 line on the indicator chart, which indicates a slight advantage for customers.
TRX / USD purchases are recommended only after the price breaks at $ 0.0281 with targets of $ 0.0310 and $ 0.0337.
Trading recommendations are not a guide to action. Following the recommendations, you assume the associated risk of loss of funds.