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Cryptocurrency

Top Altcoins Technical Analysis for the Short Term

Top Altcoins Technical Analysis for the Short Term

February 14, 2019 AtoZ Markets  The crypto market unpredictable movement has left a lot of traders and investors confused as the price fluctuation continues to be controlled by the bear. Few days before, popular cryptocurrencies like Bitcoin, Ethereum and EOS had enjoyed a bullish spike during which some coins also shifted ranks. Other than the market movement, Ripple and Tron has also been in the news that have decidedly left a positive impact on the coins.

Major Altcoins Technical Outlook

XRPUSD

At the time of the press, Ripple is quoted at $ 0.30697 mark. However, the maximum prices the coin has attained was at $ 0.3216 mark in the weekly timeframe. Bulls have confidently increased the volume of Ripple in the past few days, but above the $ 0.3150 price the coin was met by strong sell resistance. Looking at the 4 hours XRPUSD chart, confirms that the willingness of traders to sell the coin was in large volumes.

Moreover, XRPUSD is trading below $ 0.3111 pivot and the average price of the coin is exerted by the SMA100 with a value on the price scale of $ 0.3100. The price movement of Ripple indicates that the probability of bulls trying to break through resistance point at the indicated levels in the upcoming days. The RSI(14) indicator signals of short-term growth of the coin, as the coin is directed in upward direction. On the upside, if the coin breaks the $0.32 resistance zone, than it might make a bullish move towards $0.33- 0.34 levels in the short term.

BCHUSD

Bitcoin Cash is trading at $ 120.05 mark against the weekly high of $ 125.50 level. During the morning trading session, the BCHUSD pair broke the support at the level of the weekly pivot point of $122.30 mark. However, the bulls stopped the decline in the price of the coin above the support of $ 119 level.