Top 6 Cryptocurrency technical analysis - Ripple explodes, 18th September 2016
BTCUSD 4HR ANALYSIS
Bitcoin is still in the correction phase accumulating, the longer it stays in the consolidation the bigger the break would be. The price is expected to break this structure to the downside soon towards $570 minimum and any further loss from there would confirm that a short term top has been formed around $770 and we may be in a down trend for a while.
Only a break above $620 would make a case for any upside now.
Key levels:
Support: $600
Resistance: $620
ETHBTC 1HR ANALYSIS (POLONIEX)
Etherium is in an up trend and currently forming a small corrective structure which is expected to break to the upside and resume the up trend once again.
Any move to the downside is expected to be held around 0.0203679.
Key Levels:
Support: 0.0203679
Resistance: 0.02102396
XRPBTC 1 DAY ANALYSIS (POLONIEX)
Ripple has jumped some 80% earlier and hence then retraced most of those gains. Historically we have had several similar spikes but the gains were not sustained and sees the price falling back to the previous levels almost immediately. We can expect the same thing to happen this time around but I assume we would soon see a strong up trend develop.
Any move to the downside is expected to be held around 0.00000934.
Key Levels:
Support 0.00000934
Resistance no immediate resistance nearby
LTCBTC 4HR ANALYSIS (POLONIEX)
Litecoin is still in the accumulation phase with a chance we can go a bit lower with a small break to the downside possibly towards 0.00613216. However it is very likely to be contained there and the start of an impulse to the upside looks very likely as mentioned in the earlier post. It is currently correcting down after the last big impulse up and I am predicting that we would get a similar impulse to the upside very soon and when it does come it can be huge like the previous two impulses seen in the chart.
Key Levels:
Support: 0.00622274
Resistance: 0.00633074
XMRBTC 4HR ANALYSIS (POLONIEX)
Monero is in a strong up trend and is currently correcting down in a channel, this channel is expected to be broken to the upside and possibly start another big impulse to the upside.
Key levels:
Support: 0.01451221
Resistance: 0.01836375
ETCBTC 4HR ANALYSIS (POLONIEX)
Etherium classic looks to have ended the immediate down trend as expected and is now forming a mild up trend which is currently in the accumulation phase and is expected to break to the upside soon.
Any downside can be expected to be held around 0.00210503.
Key Levels:
Support: 0.00210503
Resistance: 0.00220699
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