Bitcoin, Ethereum, Litecoin: PRICE ANALYSIS 29.06.2017

behemoth18 (49)in #cryptocurrency • 9 years ago (edited)

Here's a price analysis of the BITCOIN, ETHEREUM and LITECOIN

Bitcoin:

As the chart say, we can see that the the price was a unconsistent when it hit the 2300$ before going up but still think that this is a low risk, because this is normal for opening long positions.

According to Cointelegraph Source Two scenarios can be plausable for Bitcoin:

"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"

MONITOR TRADING VOLUMES AS THIS IS CRUCIAL FOR EFFECTIVE AND EFFICIENT INVESTMENT IN CRYPTO.

Ethereum:
Ethereum suffered quite a drawdown so according to Cointelegraph Source we have four patterns that are currently persistent:

Quote: "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."
Quote: "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."
Quote: "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."
Quote: "Negative news feedback for ETH is an important factor to consider"

Graph for ETH:

Litecoin:

Litecoin holds it's 36$ at the support zone for now. According to Cointelegraph Source "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."

Graph for LTC: