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8 HOURS AGO
By
Vladimir Smerkis
BTC, ETH, LTC: Price Analysis
9462 Total views
100 Total shares
BTC, ETH, LTC: Price Analysis
Regardless of the increased volatility over the last few days, the struggle for the $2,300 level did not occur.
Looking at the chart, it can be clearly implied that the price did some retests at $2,300 before going up, which is a rather typical signal for opening long positions. It is relatively low risk.
Bitcoin\Dollar, 240, BTCE
The following scenarios seem to be plausible for BTC/USD:
In the meantime, tests of $2,700, a possible resistance level, might be observed.
Another retest of the $2,300 level. Although not clear, it is still possible. Given a retest takes place, new rooms for deals might occur.
In order to effectively and efficiently invest in cryptocurrencies, you should always closely monitor trading volumes. Admittedly, volumes monitoring provides more valuable insights than mere scrutinizing of the order book.
To recapitulate, long positions from the strong levels would be good deals. Never forget about setting stop-losses! As always, risk/return ratio is a crucial indicator for successful traders.
ETH/USD 29.06.2017
Despite the overall correction of the crypto market, ETH/USD encountered a harsh and severe drawdown. The following pattern is currently persistent with ETH:
The recent $310 support zone has now become a resistance zone. If the $310 level is surpassed and the subsequent retest on volumes is kept, a lucrative point for opening long positions will be set up. Maintaining a close stop-loss level, risk/return ratio might be very promising.
It is quite plausible that there’ll be no surpassing $310 level, against the general up-trend. In this situation, as classic technical analysis puts it, opening short positions might be set up.
Take a moment to consider the $225 zone, which resembles a turning point with a test. Currently, it looks like a strong support level, which is well proved, looking at the historic price movement. This level will be crucial if ETH price proceeds to fall.
Negative news feedback for ETH is an important factor to consider.
Ethereum\Dollar, 240, BTCE
Currently, a struggle for $310, which is a highly vital level, could be observed on the market. Although the price is growing and sometimes the signals might seem to be unambiguous, be attentive when opening short positions.
LTC/USD 29.06.2017
LTC is currently establishing a $36 support zone. Consider the volatility magnitude in proximity to this level - it proves the importance of the retest. If the price merely touches the level and you open the position afterward, stop-loss orders are likely to be executed because of high volatility. However, when the level is tested again, you will be sure about it and the signal will most likely be precise.
LTC\USD, 240, COINBASE
Again, the $36 zone is extremely strong. It is very likely that next month a classical $36-$48 channel for LTC/USD will take place.
At the same time, $48 strongly resembles a resistance zone. So, consider the volumes when opening positions from that zone.
In general, everything looks positive for LTC and the news is positive as well. This is also proved by the $2 bln market cap. It appears that in the near future, LTC might become a good hedge instrument.
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JUN 28, 2017
By
Denis Harrison
Ethereum Price Analysis: June 21 - June 28
21592 Total views
108 Total shares
Ethereum Price Analysis: June 21 - June 28
Ethereum price is adjusting on a long-term scale. Where is the rebound peak?
USDT\ETH
Correction of long-term scale
As expected, the lack of large buyer support in the $300 area triggered a drop to the next resistance zone around $250. The level was formed on June 15, where we saw a significant increase in demand. However, after another fall to this mark, the demand decreased. It was one of the reasons for the further decline.
CryptoCompare Index: ETH
PR move for GDAX exchange?
Ethereum price was only 10 cents at the GDAX exchange on June 22. According to the exchange representative, it was the result of a major sale. That’s why it was a margin call for many traders who bought Ethereum. GDAX promised to return the funds to all the parties involved in the incident in their original form - i.e. until the collapse. But what does it really mean? Did the exchange let some major seller earn or is it just a way to attract attention?
GDAX
The price at the long-term correction peak
Until the fall, the strategic goal was around $250. At this mark, it was necessary to track the price reaction. There is a growth in demand at $210, which seems to exceed the $250 demand. This might be the bottom of a $400 rollback if Ethereum price does not form a downward turn at $245 - $250. Otherwise, there will be decline down to at least $200.
USDT_ETH, H2
USDT/ETC
Medium-term flat
Ethereum Classic price is in its medium-term flat. Thus, we can assume that the growth peak for a major player has been determined. The $23 mark was reached three times, along with large sales afterward. The fact that the price collapses around $23 indicate that there’s still high demand at this mark.
CryptoCompare Index: ETC
Further growth or flat exit
Ethereum Classic price has reached the lowest border of the $15 - $23 flat at the moment. There are two courses of events: whether there will be a bounce up to the next flat wave up or the flat exit and a deeper fall. The demand is higher at the lowest border area than it was on June 15. This might be an indication that the denouement is close. If major buyers don’t support the ETC exchange rate at $15 there will be a downturn. Otherwise, we’ll see the next flat upwave.
USDT_ETC, H3
What to expect
ETH\USD
If there’s no reversal down to $245 - $250, the long-term rollback from $400 will be over.
ETC\USD
No downward turn at $15 will trigger a growth wave.
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JUN 22, 2017
By
Vladimir Smerkis
Price Analysis: ETH, BTC, LTC
29722 Total views
347 Total shares
Price Analysis: ETH, BTC, LTC
BTC/USD 22.06.2017
After the consolidation of the BTC/USD, a new support level of $2,300 has been set up. This level has not been retested yet, so it cannot be regarded as strong. However, in case the correction does take place, traders will consider a strong buy opportunity from that level.
Bitcoin/Dollar, 240, BTCE
Key points
In the case of a correction, you may consider buying close to the $2,300 area. If the level is retested, the price will likely settle and is unlikely to fall down. If this forecast proves feasible, the first target will be at the $2,700 level.
It might be a good idea to closely and attentively monitor the $2,724 - $2,880 zone since the price fluctuations at these levels might result in a viable pattern.
The network scaling issue is one of the crucial factors that will largely determine BTC price.
ETH/USD 22.06.2017
After a massive correction of the crypto market on June 16, ETH was exposed to another correction a few days ago. But, most clearly, these problems have been observed during the large ICOs, like the recent Status ICO, which clogged up the Ethereum Blockchain. The ETH website was down for periods of time due to the traffic problems.
On the market, ETH price instantly reacted to these congestion issues and started to drop.
Because of that, many trading platforms like Bitfinex, BTC-E and Cex.io restricted the withdrawal of ETH.
LTC/USD, 240, COINBASE
Key points
A clear support zone has been established at $310. It was visible during last week’s correction and is visible right now. From the technical point, it is a strong long signal with minimal targets at $360.
There are several upcoming ICOs and the question is whether the ETH Blockchain can handle them.
Vitalik Buterin has not yet spoken on the issue. While there are clearly some problems, ETH price uncertainty will remain. Technically, ETH can be traded with a low stop from the support level of $310 but fundamental factors outweigh, suggesting refraining from the opening positions of the ETH/USD.
LTC/USD 22.06.2017
LTC/USD, 240, COINBASE
LTC exited the channel it was trading from the start of May and has reached new highs.
It has been renowned as a stable currency.
Key points
The potential resistance zone is above $48.
A clear support zone has not yet been established, but it is likely to be the $40 level.
It might be a good idea to follow Charlie Lee’s Twitter.
Given the current volatility levels of the LTC/USD, resistance and support zones are relatively weak. Currently, there is the nascent establishment of strong channels, so successful traders might be waiting for a clear channel pattern with viable support and resistance levels.
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JUN 21, 2017
By
Denis Harrison
Ethereum Price Analysis: June 14 - 21
35242 Total views
109 Total shares
Ethereum Price Analysis: June 14 - 21
Ethereum price is adjusting to the long-term growth. The question is, how will a fall in demand at the current level affect ETH?
USDT\ETH
Smart contracts fever
Russia and China are considering using Ethereum to digitalize their national currencies. According to the Vice President of the PBOC Research Department, the growing interest in smart contracts can be explained by the fact that the Enterprise Ethereum Alliance infrastructure allows you to develop truly great smart applications.
Blockchain Ethereum usage is unlikely to be used by banks, but the interest will surely grow. Right now, Ethereum price is “stuck” between two long-term resistance zones: $300 - $400. The upward trend structure hasn’t been broken yet.
CryptoCompare Index: ETH
Demand fall
After Ethereum price fell to $250, there was a rebound from the long-term resistance. The demand at the uptrend peak of $400 is significantly lower than it was on June 12-14. Overall, the demand and supply levels are falling. It indicates the traders’ uncertainty. The course needs a push and it will most likely be made by a major player. The strategic level is in the $300 area. If there’s a large player’s position there, there will be no downward movement if the price reaches its mark and the growth continues. If there are no positions at $250, there will be a new fall, which will start from a downward turn in the $340 - $350 area.
USDT_ETH, H2
USDT\ETC
No changes in uptrend
After another fall to $14, Ethereum Classic couldn’t form a turn at the key point. This indicates that there’s support from a large buyer. If a large player does not start speculating to fix profits, the growth will go on.
CryptoCompare Index: ETC
Demand increase
The $20 area is essential for a large buyer, as it is in high demand. This is obviously higher than the one on June 12-14. That’s why the price reaction to the $20 resistance zone will be the key factor. If the demand stays the same on this mark and there is no downward turn, the growth will continue. Otherwise, the price fall to the starting point is quite likely.
USDT_ETC, H2
Most likely scenarios
ETH\USD
If there’s a correction to the $300 area and no downward turn, chances are Ethereum price will grow.
ETC\USD
Ethereum Classic upward movement will go on if there is no downward turn at the $20 mark.
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