Crypto Price Analysis 01/06 : BTC, ETH, XTZ, ADA, LINK, XLM, LTC, DOT

Crypto Price Analysis

Over the last few days we saw an exponential growth in the Cryptofutures open interest and volume. The last 24 hours futures trading volume was over $116 billion according to bybt

To decide if we will have a breakout or whether a short-term reversal is around the corner let’s examine Bitcoin, ETH, XLM, Tezos, Link, Litecoin, Polkadot, and Cardano

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XLM Price Analysis

Currently XLM is trading over our initial resistance level of $30 cents. The next resistance level for XLM is $44 cents it will trade side ways between $27 cents and $32 cents. In case of a major sell off XLM will try to touch the $22.5 cents support level.

ADA Price Analysis

Cardano is on track to break the resistance level $38 cents. The current support level for ADA is $22 cents. If ADA is enable to break the $38 cents, ADA will most likely trade between $32 cents and $35 cents.

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ETH Price Analysis

ETH currently trading around $1144. ETH current support level is set at $972. Ethereum is on track to reach $1362 in the near future. Failure to break the resistance level in the upcoming days, will help ETH to consolidate between $980-$1100.

XTZ Price Analysis

Tezos is currently trading at $2,55. It broke our last resistance level which was set at $2.5. Our current resistance level is set at $2.62 with a possibility of breaking straight after the next resistance level set at $2,91. In addition, the current support level for XTZ is $2.19

ChainLink current price is $15.12. It broke our previous resistance level set at $15.

Link is on track to break the resistance level of $15.71. The current support level for LINK is $13.

BTC Price Analysis

Bitcoin is currently trading at $34825. Our short term resistance level for BTC is $35567. In case Bitcoin is successful in breaking this price, we should see almost an immediate price jump of BTC price toward $39k. Our current support level for BTC IS $33K In case of a sell-off it might even reach $30k

Polkadot DOT Price Analysis

Polkadot is currently trading at $9.76. We set the support level for DOT at $9. Dot is currently struggling to reach the resistance level of $10.36. Failure to break this resistance level in the near future, will keep the price of DOT between $9.2-$10.

Litecoin LTC Price Analysis

Litecoin is currently trading at $!163. Litecoin is on track to try to break the $170.4 resistance level.

We set the support level for Litecoin at $144.

The viewpoints and opinions expressed here are solely those of the author and do not necessarily represent the views of Cryptostec. Any investment and trade move involves risk. When you make a decision, you can do your own analysis.

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