ETHUSD: Double Bottom Pattern Above $1612

Ethereum was unable to sustain its bearish momentum and after touching a low of $1612 on 15th Mar, the price started to correct upwards against the US dollar touching a high of $1835 on 19th Mar.

We have seen a bullish opening of the markets this week.

The prices of Ethereum are ranging near a new record high of 1 month.

We can clearly see a double bottom pattern above the $1612 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

ETH is now trading just above its pivot level of 1749 and is moving in a mildly bullish channel. The price of ETHUSD is now testing its classic resistance level of 1752 and Fibonacci resistance level of 1754 after which the path towards 1800 will get cleared.

We can see the formation of both bullish harami and bullish harami cross patterns in the daily time frame.

The relative strength index is at 46.05 indicating a neutral demand for Ether and a shift towards the consolidation phase in the markets.

The STOCHRSI is giving an overbought signal, which means that the price is expected to decline in the short-term range.

Most of the technical indicators are giving a buy market signal.

Most of the moving averages are giving a buy signal at the current market level of $1650.

ETH is now trading above both the 200 hourly simple and 200 hourly exponential moving averages.

• Ether: bullish reversal seen above the $1612 mark.
• The short-term range appears to be mildly bullish.
• ETH continues to remain above the $1700 level.
• The average true range is indicating less market volatility.

Ether: Bullish Reversal Seen Above $1612

ETHUSD has been successful in crossing the $1800 barrier after which we have seen some pullback action in the markets due to the US Fed raising the interest rates, but this is temporary and we will again see ETHUSD touching the $1800 level soon.

We can see the formation of the bullish trend reversal pattern with the adaptive moving average AMA50 in the 4-hour time frame.

The Williams percent range is indicating a neutral level in both the 15- and 30-minute time frame.

ETHUSD touched an intraday low of 1715 in the Asian trading session and an intraday high of 1754 in the European trading session today.

The key support levels to watch are $1696 which is a 3-10-16 day MACD moving average stalls, and $1717 at which the price crosses the 9-day moving average.

ETH has decreased by 1.88% with a price change of 33.62$ in the past 24hrs and has a trading volume of 12.527 billion USD.

We can see an increase of 18.44% in the total trading volume in the last 24 hrs which appears to be normal.

The Week Ahead

ETH was successful in crossing the $1800 handle and touched a high of $1835 after which we can see some downwards correction. After the price stabilizes, we are looking for fresh upsides in the range of $1800 to $1900 levels.

We can see the formation of a bullish ascending channel from $1612 towards the $1843 level.

The immediate short-term outlook for Ether has turned mildly bullish, the medium-term outlook has turned bullish, and the long-term outlook for Ether is neutral under present market conditions.

The resistance zone is located at $1800 which is a pivot point 1st resistance point and at $1845 which is a 1-month high.

The weekly outlook is projected at $1900 with a consolidation zone of $1850.

LTCUSD: Three Inside Up Pattern Above $75.06

Litecoin was unable to sustain its bearish momentum last week and after touching a low of $75.06 on 15th Mar, the price started to correct upwards against the US dollar touching a high of $91.10 today in the European trading session.

The Williams percent indicator is back over -50 in the weekly time frame indicating a bullish trend.

We can clearly see a three inside up pattern above the $75.06 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.

Litecoin is now trading above its 100 hourly simple moving average and above its 100 hourly exponential moving averages. The price of LTCUSD is just above its pivot level of 87.92.

The relative strength index is at 72.69 indicating a very strong demand for Litecoin and the continuation of the buying pressure in the markets.

The price of Litecoin continues to remain above some of the moving averages which are now giving a buy signal at current market levels of 90.66.

The Williams percent range is giving an overbought signal, which means that the prices are expected to decline in the short-term range.

The resistance of the channel is broken in the daily time frame indicating a bullish scenario.

The short-term outlook for Litecoin has turned strongly bullish.

• Most of the technical indicators are giving a STRONG BUY signal.
• Litecoin: bullish reversal seen above the $75.06 level.
• The RSI is giving a BUY signal.
• The average true range is indicating LESS market volatility.

Litecoin: Bullish Reversal Seen Above $75.06

The price of Litecoin continues to move in a strong bullish momentum above the $90 handle and now we are moving in a rally mode in the European trading session.

We can see the formation of the Ichimoku bullish crossover: Tenkan & Kijun pattern in the daily timeframe indicating a bullish nature of the markets.

We can see the moving average bullish crossover pattern with AMA50 and AMA100 in the 4-hourly time frame.

The MACD crosses up its moving average in the 15-minute time frame indicating a bullish trend.

The price of LTCUSD is now facing its classic resistance level of 88.47 and Fibonacci resistance level of 89.00 after which the path towards $95 will get cleared.

Litecoin touched an intraday low of $85.55 in the Asian trading session and an intraday high of $91.19 in the European trading session today.

Litecoin is now facing its resistance zone at $91.22 which is a pivot point 2nd resistance point and at $93.57 at which the price crosses the 18-day moving average stalls.

LTCUSD has decreased by 10.39% with a price change of 12.89$ in the past 24hrs and has a trading volume of 1.214 billion USD.

Litecoin’s trading volume has increased by 139.14% compared to yesterday which is due to the heavy buying seen at lower levels in the global cryptocurrency markets.

The Week Ahead

The price of Litecoin has been successful in crossing the $90 barrier and now we are looking to touch the $95 level. Since the movements are in the form of a rally into the markets, we may also witness some pullback after the recent upsides.

The horizontal resistance is broken in the 15-minute time frame indicating the bullish nature present in the markets.

The price of Litecoin needs to remain above the important support levels of $85.79 which is a 38.2% retracement from 4-week high, and at $83.37 at which the price crosses 40-day moving average stalls.

The short-term outlook for Litecoin has turned strongly bullish, the medium-term outlook is bullish, and the long-term outlook is neutral under present market conditions.

The weekly outlook is projected at $95 with a consolidation zone of $93.

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