So lets look back and ser what our fav cryptocurrency has done.
LTC/USD
Litecoin broke below the $175 support level yesterday, Jan. 26, but recovered and closed above it by the end of the day.
LTC
What might be worth considering is the fact that the bulls are not able to push prices higher. If we don’t get an upside massive range move within a couple of days, chances are that the bears will again attempt to sink the cryptocurrency.
On the downside, support exists at $140.001, which is the intraday low of Jan. 17. If this level also breaks, the LTC/USD pair can sink to the next support level of $85.
If the bulls manage to push prices higher, they will face resistance at $200 from the 20-day EMA and at the down trendline of the descending triangle.
We should change our bearish view only after price breaks out of $225.
ETH/USD
In our previous analysis, we had recommended long positions in Ethereum on dips to $1,000. Our long positions were triggered yesterday, Jan. 27.
ETH
After touching an intraday high of $1,102.4 on Jan. 25, the cryptocurrency fell to the down trendline yesterday, Jan. 26. Now, if it manages to break out of $1,110, we can expect it to rally to $1,174.36 levels.
Once the ETH/USD pair breaks out of $1,110, traders should raise the stop loss from the current levels of $840 to $950. That will decrease our risk. Partial profits can be booked at $1,170 levels, and the stops on the remaining positions should be trailed higher.
