Crypto Price Analysis
Just the other day the market seems like it was on run for more bullish crypto gains.
Yet again, we are saying how volatile the market can be.
In just 1 day, the crypto market shed over $50 billion.
Daily cryptocurrency market performance. Source: Coin360
To decide if the downward trend will continue or whether a short-term reversal is around the corner, let’s examine the LTC, ADA, BTC, ETH, XRP and XLM cryptocurrencies.
Video crypto price coverage
XRP is currently touching the support level of $54 cents and is aiming toward the $48 cents. The pullback will try to touch the $42 cents support level. XRP could touch the second resistance level at 42 cents. If XRP price will touch below $40 cent, this could lead to the end of the bull run.
XLM is with the current bearish momentum is on target to touch the next resistance level of $15.49 cents. If XLM will not maintain price level above $15 cents for the next few days, XLM will try to touch $11 cents.
A breakout below $11 cents will mean, end to the rally of XLM.
With the current momentum in the market, ADA is on track to erase the last few weeks gain. Ada has touched today the first support level of $12.9 cents.
A breakout below $12.6 cents could lead to $11 cents and by that will end the rally momentum we had for Ada.
However if the pair can maintain the price below the first support level, we might see some attempt to break the resistance level of $15.9 cents
LTC is testing the support level of $76.3 with a possibility of testing the second support level of $62.
If LTC is no able to maintain above the first support level of $76.3 for the next few days, we might see a quick reversal leading to LTC reaching $62.
A fall below $62 will signal an end to the bullish momentum.
ETH is testing the support level of $504 with a possibility of testing the second support level of $470
If ETH is no able to maintain above the first support level of $470 for the next few days, we might see a quick reversal leading to ETH reaching $470.
A fall below $450 will signal an end the current bullish momentum.
BTC is testing the support level of $17200 with a possibility of testing the second support level of $15747
If BTC is not able to maintain above the first support level of $17200 for the next few days, we might see a quick reversal leading to BTC reaching $15747
A fall below $15000 will signal an end to the bullish momentum.
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.