BTC, ETH, LTC. LONG TERM PRICE ANALYSIS

BTC/USD

Recently, the BTC/USD pair has greatly increased its volatility. This  remains true not only for Bitcoin, as such a tendency can be observed  throughout the market of cryptocurrencies. There are no vivid factors  that have impacted such movements. Therefore, we can only assume that it  is due to yet another correction and profit taking of the major market  players. 

 At the moment, the situation remains uncertain. What’s happening on the market:  

• The market is still growing, acquiring the nature of bull markets.
• Volatility.
• Clear levels are yet to be formed, while previous support and  resistance zones due to volatility are no longer relevant at the moment.

What to pay attention to:  

• Short positions are not considered since the market is still growing.
• The estimated support level of $2,500 was passed fairly easily.  Assuming this is a factor of high volatility, it’s possible to expect  the price to return back to its original position. As a result, a long  $2,550 potentially looks good.
• The price has dropped below $2,250. This signals strongly to bears.  But due to the overall structure of the market, short positions do not  look very promising.
• Formation of levels. With any correction, support levels are always  formed. At the moment, the situation is ambiguous. It could only be  guessed where the price unfolds. Stay tuned to the market, especially to  the $2,500 and $2,350 zones.

ETH/USD

 Ethereum is no exception. Last week, the $200 support zone  proved to be right. However, at the moment, the price remains far from  those levels. Potentially, the $320 zone looks good, though now Ethereum  is trading lower. Therefore, you need to wait for support levels to  form, regarding the BTC/USD pair. There’s ICO, it seems to indicate investors’ interest in ETH. Another significant news is that the central bank of Singapore is planning to implement Ethereum Blockchain for tokenizing the national currency. While there are no clear levels, monitoring the price turns as well as the news is highly recommended. 

LTC/USD

 LTC has been trading in the $22-$35 channels since the  beginning of May. Technically, everything remains exactly the same as it  was last week. The $23 zone looks good for purchasing. Besides the technical analysis, follow closely the crypto  market in general. Should the drop increase, LTC might be likely to be  knocked out of its usual channel. If the knockout is below $22, it would be a strong signal  for short positions opening. But due to the conjuncture in the current  market, it might be better to play long positions. If there is a $22 blow and a rebound, it is a signal for  long positions. Following this scenario, there might be the reversal  opening the target at $33. There’s been positive news for LTC. Just a few days ago, the creator of Litecoin, Charlie Lee, announced that he was leaving his position as Coinbase technical director in order to focus on Litecoin entirely.