ETHUSD: Ether Above $3500
Ethereum is moving in a strong bullish momentum after crossing the $3500 handle, and any dip is reinforced with fresh buying pressure in ETHUSD. ETH is now on its path towards crossing the Fibonacci resistance levels of $3615 and classic resistance levels of $3644 today.
Ether is expected to maintain the bullish tone this week and continue towards the $4000 mark as the bulls take over. Today in the Asian trading session ETHUSD touched an intraday low of $3470.
ETH is now moving above both the 100 hourly and 200 hourly moving average. After reaching the $3600 level, prices are expected to consolidate towards $3550.
- Ethereum is on a bullish run towards $3750
- Short term to Medium term outlook remains bullish.
- Staying above both the 100 hourly simple and exponential moving averages
- The ETHUSD is expected to cross $3850 in the opening of next week.
Ether Uptrend Channel Formations
ETHUSD is moving in uptrend channel formations by staying above the $3500 levels. Ethereum is now on its path towards $3600 after clearing the 50-day moving average of $3500.82. The volatility in ETHUSD is lower today, and more trading volumes could be seen this week.
ETH gained 5.73% with a price change of +$196.88 in the past 24hrs, and has a trading volume of 22.478 billion USD.
The Week Ahead
Ethereum is moving in a bullish tone this week, and any dips are well supported, pushing its prices above the $3500 mark. A short-term correction is expected once the price reaches $3600 after which the path towards $4000 will be cleared.
Since the average direction change (14-day) is neutral, ETHUSD may enter into a consolidation or correction phase at any time; but the renewed buying pressure that is seen will steer its prices above $3600 today in the US trading session.
This week, ETH is expected to close above the $3800 level, and the trend will continue in the opening of the next week.
StochRSI (9,6): at 63.86 indicating a BUY
Moving averages convergence divergence (14-day): at 18.72 indicating a BUY
Ultimate oscillator: at 61.79 indicating a BUY
Bulls/Bears power (13-day): at 18.187 indicating a BUY
LTCUSD – Bullish Divergence Pattern Above $160
Litecoin is currently trading above the $180 handle in the European trading session. It has already crossed its 100 hourly and 200 hourly moving averages. After touching an intraday low of $173.45 in the Asian trading session today, it gained traction, and buying support was seen pushing its prices well above the $185 mark. All the major technical indicators and moving averages are signaling a STRONG BUY at current market prices.
Litecoin is now facing its classic resistance levels of 187 and Fibonacci resistance levels of 186.65 in the European trading session. Both the short term and medium term outlook for Litecoin appears bullish, and the 100-day moving average indicates a STRONG BUY.
- Average direction change (14-day) and ultimate oscillator are both indicating a BUY at the current market levels of $182.20
- Bullish trend line formation above the $173 handle
- Simple and exponential moving averages indicate a STRONG BUY
- Dips remain well supported above the $170 mark
Litecoin Bullish Trend Line Formations
LTCUSD is moving in a bullish divergence pattern above $160, and there is no selling pressure seen below these levels.
Litecoin price has been on a bullish momentum today and is now facing its Camarilla resistance levels of 185.70 and a DeMark resistance level of 187.60.
Litecoin is trading with high market volatility today. It touched an intraday high of 186.85 in the London trading session. In the last 24hrs, LTCUSD has grown by +10.60% at +17.49$, and has a 24hr trading volume of USD 3.874 Billion.
The Week Ahead
Litecoin was moving in consolidation at the start of this week. But now, bullish trend line formation is seen above the $173 level, indicating that the prices can go much higher than the current market levels in the medium term.
It is expected to reach $187.50 as immediate targets this week and later are moving towards the 190-195 handle.
Rate of price change: at 0.660 with a BUY
Commodity channel index (14-day): at 100.77 with a BUY
Moving averages convergence divergence (12,26): at 2.149 with a BUY
Average true range (14-day): indicating high volatility