Bitcoin, XRP, Litecoin

Bitcoin (BTC)

After trading in a range for days, Bitcoin (BTC) has broken out to the downside to test a low of $3405. However, this has led to an increase in volumes, especially buying volumes. This is an indicator that Bitcoin (BTC) could see its value rise significantly in the near-term. To go long on Bitcoin (BTC) in the next 24-hours, it would be best to wait for a break above $3521.2. This was the upper range for Bitcoin (BTC) in the last 24-hours, and a key resistance for Bitcoin (BTC) in the next 24-hours. If it breaks it, then it could possibly rise to $3659. This is the next key resistance level for Bitcoin (BTC) and a possible exit point for Bitcoin (BTC) in the day.

However, in the event that Bitcoin (BTC) loses upside momentum and drops below the 24-hour low of $3405, it would be an indicator that bears are still in control. This would be a signal to go short on Bitcoin (BTC) with a target of $3299.3. This is a key support level for Bitcoin (BTC) on the day chart, and a possible exit point from a 24-hour short position.

XRP (XRP)

Like most major cryptos, XRP (XRP) has broken out to the downside in the last 24-hours. In this period, XRP (XRP) has dropped to a low of $0.290.  However, in the last 15-hours, it has been consolidating between $0.295 and $0.292.  This could be an indicator that bulls are coming into the market, or that bears are taking profits before a continuation of the bear run. To go long on XRP (XRP), it would be best to wait for a break above the 200-day MA at $0.307. This is a key resistance point for XRP (XRP) and a push above it would a signal of increased bullish sentiment. A long position at this price level would have a good exit point at $0.315. This is the next key resistance point for XRP (XRP), and a possible exit point in the day.

On the other hand, if XRP (XRP) breaks below the 24-hour low of $0.290, it would be a signal to go short with a target of $0.219.  This is a key support level for XRP (XRP) on the weekly chart, and a possible bottom.

Litecoin (LTC)

Litecoin (LTC) has broken out downwards in the last 24-hours. In this period, it has seen its value drop from $35 to a low of $32.65. Litecoin’s bearish sentiment is increased by the fact that it has broken below a key support level on the 1-hour 200-day MA. This makes its current price a good entry point for a short position with a target of $31.51. This is the next key support level for Litecoin (LTC) in the day.

On the other hand, if Litecoin (LTC) pushes above the 24-hour high of $35, it would be a signal to go long with a target of $40.66. This is a key resistance level for Litecoin (LTC) on the 6-hour chart, and a possible exit point in the day. A break above it could see it enter a medium-term bull rally.

 

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