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

Yaron Mazor
Updated

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.

{alt}
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

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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.

{alt}
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.

{alt}
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.

{alt}
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.

{alt}
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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