Bitcoin, Bitcoin Cash, Ethereum, XRP and Litecoin Price Analysis

Yaron Mazor

Bitcoin price analysis

Bitcoin (BTC/USD) is trading above its key mid and long-term support level. The downtrend will remain intact upon a break below the 5,800. On the upside, a break above 7,430 could indicate a direction change.

Bitcoin Daily Chart

Support levels:

  • Week:            6,200
  • Strong:          6,000
  • Key:                5,800

Resistance levels:

  • Week:            6,600
  • Strong:          6,800
  • Key:                7,430

Average prices:

  • Month:         6,746             
  • Quarter:       6,841
  • Year:              8,344

Bitcoin Cash price analysis

Bitcoin Cash (BCH/USD) is heading to its 2017 heavy trading activity levels between 400 and 350. Currently, the downside reigns.

Bitcoin Cash 4H Chart

Support levels: 

  • Week:            400                
  • Strong:          350
  • Key:                280 

Resistance levels:

  • Week:            460                
  • Strong:          520
  • Key:                650
  •  

Average prices:

  • Month:         530.73          
  • Quarter:       595.74
  • Year:          1,052.95

Ethereum price analysis

Ethereum (ETH/USD) has not been able to recover and keeps on digging new lows for the year. July 2017 low, around 136 is getting closer.

Ethereum 4H Chart

Support levels: 

  • Week:            170    
  • Strong:          136
  • Key:                100

Resistance levels:

  • Week:            210                
  • Strong:          240
  • Key:                300

Average prices: 

  • Month:         250.44                      
  • Quarter:       313.80
  • Year:              608.33 

Litecoin price analysis  

Litecoin (LTC/USD) is trying to hold water above the 50 mark, which serves as a short-term key support level. A break below the current support could ignite downward momentum towards the 2017 heavy trading activity region between 45 and 35.

Litecoin 4H Chart

Support levels:

  • Week:            45                  
  • Strong:          40
  • Key:                35

Resistance levels:

  • Week:            56                  
  • Strong:          64
  • Key:                70 

Average prices:

  • Month:         58.85
  • Quarter:       61.47
  • Year:           129.41

XRP price analysis

XRP (XRP/USD) is trading around a significantly low-price level slightly above the 0.246, the year low. With no positive catalyst, the downtrend should remain in place.

XRP 4H Chart

Support levels: 

  • Week:            0.246            
  • Strong:          0.20
  • Key:                0.129

Resistance levels: 

  • Week:            0.28               
  • Strong:          0.31
  • Key:                0.36

Average prices:

  • Month:         0.311            
  • Quarter:       0.345
  • Year:              0.721 

*Any views and opinions presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading.

This article was written by Yaron Mazor, a senior analyst at DX.Exchange 

This article was originally posted on FX Empire

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